Cash Remittances to Mexico Set $26B Record in 2017, Says Central Bank

breitbart ^ | ILDEFONSO ORTIZ AND BRANDON DARBY

[davikkm]

Individuals outside of Mexico who sent money home in 2017 broke all prior records with more than $26.1 billion in 11 months. The latest figures from Mexico’s Central Bank (Banxico) show 2017 being a record-breaking year for receiving remittances by Mexicans abroad. From January to November 2017, Mexicans sent $26,167,00,000, the highest figure to date. In 2016, another record-setting year, Mexicans sent $24.1 billion. Banxico reports that 97 percent of the funds sent to Mexico came through wire transfers. Mexico’s second largest source of income was the export of oil for $18.5 billion in the first 10 months of 2017.

According to CNN Money, the broken records reflected a weakening of the peso and an alleged threat by the Trump Administration to tax remittances.

[Mr. K]

25% tax on that and we pay off the wall in 4 years!

[Finnwolf]

Don’t forget to add the incalculable costs of murder, sexual assault, and drug trafficking crimes.

[oldasrocks]

Thgis is probably peanuts to what the chinese people send to china every year.

[Finalapproach29er]

7% tax for 3 years. Wall funded.

[wally_bert]

That would be one tax the dims would absolutely against I’d bet.

[libertylover]

Taxing these transfers has always seemed the best way to make the Mexicans pay for the wall. Get on with it!

[Terry Mross]

This is why the Mexican government is against a wall. I’d like to know how much money is kicked back to American politicians.

[Gunslingr3]

Treasury seize the transfers and require the sender to prove the legitimacy of the transfer. Legally earned, properly taxed, legally entitled to be present in America, proved in person at local ICE office.

I hope that happens, it would be a positive for cryptocurrencies.

[Gunslingr3]

There should be a 40% tax on all remittances individual to individual in any country outside of the United States.

Man, this thread is bringing out lots of Freepers who want more taxes! I hope you get your wish, it would simply increase demand for cryptocurrencies and accelerate their adoption. Good luck!

[TheConservativeTejano]

Cash Remittances to Mexico Set $26B Record in 2017, Says Central Bank

Yup, it sounds like the right amount of $$$$. The $$$ sent back to Mexico is more than the Oil revenuse of Mexico.

This is why we need a Southern Border Wall and we really need a freeze of immigration in this country to see what kind of problems with Illegals that we have in this country.

Our Pubbie politicians do not like to hear about these $$$ being sent back to Mexico and our current politicians do not even care when u tell them to fight with us. I have written mine and we have not received any replies and this is why we are so upset at the Illegal Immigration problems that we have in this country and he is a pubbie.

[Dogbert41]

Mexico could build 5 modern aircraft carriers with that.

[Vlad The Inhaler]

Hey congress.

Get off your asses and elephants and put a transfer tax on this money.

It would pay for the border wall in a relatively few years.

[semimojo]

This is a shameful transfer of U.S. Taxpayer wealth to Mexico!

If the Mexicans are earning the money by working here then they likely are U.S. taxpayers.

[Vlad The Inhaler]

There is a lot of talk about trade deficits.

That’s what we get with illegals - a YUGE trade deficit

Mexico trades us illegal border jumpers for $26 billion in cash every year.

Mexico gets the cash, we get to house, feed, educate and provide medical care for Mexico’s excess unskilled labor force.

Illegals cost the USA $135 Billion a year.

See: http://www.washingtonexaminer.com/record-135-billion-a-year-for-illegal-immigration-average-8075-each-25000-in-ny/article/2635757

Then the illegals suck another $26 billion out of the economy and send it to Mexico.

And billions more to other countries.

[AzNASCARfan]

Said it all along... a tax on those would fund the wall, easily and Mexico would indeed pay for that wall.

[tumblindice]

Stop talking about it and do it!

[palmer]

Goodness gracious this makes me sick to my stomach that our politicians have sold us down the road for the past 50 years.

You can thank the dumbass voters. Watch the boob tube, vote for whoever it says to vote for. Every now and then we'll get a Dave Brat. The GOPe does their part of course but it really boils down to laziness and stupidity.

[Keyhopper]

Trying to send as much home as they can.
When they get deported it will be waiting for them

[HotHunt]

All Trump has to do is to skim a small amount off the top of the $26 billion cash flow headed south and he will have the money needed to build his wall.

And he will keep his promise that Mexico will pay for it.

[SoConPubbie]

If the Mexicans are earning the money by working here then they likely are U.S. taxpayers.

You missed my point completely!

If they are working here, especially as illegals, they are being subsidized by the American Taxpayer probably to the tune of 30% of their income.

Money they are neither morally, ethically, or legally entitled to since they are ILLEGAL!

They have stolen that money and are sending it to Mexico.