Posted on 02/09/2016 5:58:16 PM PST by TigerClaws
Remittances sent home by Mexicans working outside the country surpassed petroleum revenues in 2015 for the first time. ADVERTISEMENT
There was a 4.75% increase in money sent from abroad, most of which comes from the U.S., to total US $24.8 billion last year, up from $23.6 billion in 2014, said the Bank of México.
The bank said it was the first time remittances had totaled more than petroleum revenues since it began tracking them in 1995.
Oil revenues last year totaled $23.4 billion. - See more at: http://mexiconewsdaily.com/news/remittances-totaled-oil-income/#sthash.ZQr2Jt6S.apJQe72y.dpuf
(Excerpt) Read more at mexiconewsdaily.com ...
It’s a lot easier then taxing the remittances.
Just tax Carlos Slim Helu, the world’s richest man, for the cost. He’s the biggest beneficiary and promoter of illegal immigration through his mouthpiece operation called “The New York Times”.
He’s also Mexican.
Roll that around in your brain. The richest man on the planet is...Mexican. And he spends enormous amounts of cash trying to convince us that we owe him and his Raza.
Like hell we do.
Unbelievable.
Tax remittances at 50%.
I don’t think this is the first time; I remember hearing about this back in... I think 2005 or so.
The remittances probably were greater than oil revs BEFORE oil took its poop to sub-$30.
Mexico isn’t considered a ‘foreign country’ by Western Union. Same price to send money there as state to state.
Go Trump!
Very interesting. So no currency exchange rate?
I wonder how difficult it will be to avoid paying remittance taxes.
I like that idea. I’m on board with Mexico paying for a wall.
20% ought to cover the start of the wall
On election day President-elect Trump can say to the illlegals: “GET THE HELL OUT!’ They will be gone within 10 weeks(inauguration) and all will be carrying a lot of cash. That’s ok.
But Mexico taxes it heavily on their end.
What, no exit tax?
It’s called money laundering. The IRS should make sure that the money sent was earned legally and taxed. Those businesses doing the transfer should keep records and report to the IRS. Proper (legal) identification must be given by the sender.
There’s no tax at all.
I see it every day. Contractor hires subs to do the work. They have one legal Hispanic who owns the business. His 20 cousins are illegals and get paid cash. They send cash out of the country.
We pay for their healthcare, their kids public schools, and get NOTHING in return.
Trump is right!
Does Mexico tax the money coming in? With 25 billion a mere 15% tax on these remittances should give Trump the money for his wall.
[This is how we pay for the Wall of Trump!]
True. One bright idea suggested by Instapundit is to have 25% tax on remittances to Mexico and use the tax for a new wall. Makes sense.
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