Posted on 05/03/2016 8:24:59 PM PDT by Trumpinator
Trump Wall Plan Could Stunt Western Union's Fast-Growing Mexico Business
By Emily StewartFollow | 05/03/16 - 04:26 PM EDT
Donald Trump's plan to deport all illegal immigrants and build a wall at the southern U.S. border and make Mexico pay for it could cause some collateral damage, including to cash transfer company Western Union (WU - Get Report) .
The Englewood, Colo.-based company sees a significant chunk of its business come from Latin America and the Caribbean, as well as Mexico. Latin America and the Caribbean comprised about 11% of Western Union's revenues in the first quarter, and Mexico, which it includes in its North America figures, is 4%. Most revenues are derived from funds being transferred out of the U.S., also known as remittances.
"Mexico for us continued to grow faster than the rest of the market," said Western Union Chief Financial Officer Raj Agrawal. "We're pleased on the overall growth there."
(Excerpt) Read more at . ...
The Feral Gobmint does it every day.
Built that wall!.....Also have SocSec quit turning over FICA taxes from ID theft illegal aliens. That is money given directly to the MEX government instead of being returned to the SS programs.
Yes. Me too.
That will either help pay for the wall or force illegals to ride or drive themselves back to Metico to deliver their money personally. And that gets them out of our country and back into their country.
It will do nothing of the sort you imagine. Just as the mohammedans have an informal international money transfer scheme, the Mexicans will set up a similar one.
And, who is best positioned to set up this informal network -- the drug cartels.
Too high a tax will just enrich those already in the criminal underground. The beauty of Trump's 4% tax is that it is high enough to get the job done, but low enough that the average illegal will opt for the safety of a legitimate company instead of the unknowns of a criminal money transfer scheme. Raise that tax too high, and the criminal scheme starts to look better and better.
too bad soon sad
If he isn't then you better make better plans.
Never tried to send a $10.00 bill to a grand child have you?
A lot of US business and Mexican business is built off of illegal immigration. They will be howling like stuck pigs. But they built their houses on sand.
PISS OFF RAJ!!!!!!!
Now, remember - what was reported here was Western Union’s “revenues” from their Mexican money-running operations. Western Union only “earns” 2-3% of what is TRANSFERRED out of country by illegal aliens.
So multiply their “earnings” - and perhaps only 1/2 to 1/3 of their fees from money transfers are actual post-tax “earnings” - by what could be 100 times.
So, do you want to “tax” the illegals, and their illegal non-taxed wages?
1. Use the IRS to actually find out duplicate SSN and duplicate SSN-tax rebates going to multple addresses and multiple states. (Only a few percent of people move each year, but when one SSN has several hundred addresses ? Several thousands addresses? )
Tax the money going to Mexico- Central America- Asia at 25% rate, then return what is claimed by people actually filing taxes.
What a frigging shame! I didn’t know WU was still in business except for Nigerian scams. If anybody you are doing business with mentions Western Union, drop them like a hot rock.
“Never tried to send a $10.00 bill to a grand child have you?”
My grand kids live in the UK.
Years ago I had to warn customers that anyone offering to upgrade their TV services in exchange for WU transfers was a big fat scam. The worst part was their services DID change - they got upgraded to the top-notch package and unless they checked their accounts they just thought “oh wow, cheap upgrade!”. Either they had inside help or had broken into the system, was never told which, but oh man what a headache those calls were.
“Or they could put cash in the mail”
Probably the most corrupt Postal System in the World. Even Registered delivery is not safe for Mexico. It would be even worst if Postal Carriers knew letters from the USA contained cash. Even still to all cover bases I would have a special Mexico only Postage stamp $10 a pop. Special Money orders as well with a 4-5% fee.
Congress would have to enact some kind of law on money tranfers to 3rd parties which will pop up over night in Barbados or some such country for the purpose of then forwarding the money to Mexico.
A mere 2 percent tax on money transfers will build the wall and pay for deporting illegals. Trump has that one right.
Trump Wall Plan Could Stunt Western Union’s Fast-Growing Mexico Business
They say that as if it were a bad thing.
I quite agree with the premise that if an immigrant’s first act is to break the law, there is something primoridally insidious and undermining about that that I can’t and do not wish to get over. That these folks want us to respect their culture when they crap on our laws is and should be intolerable to any genuine citizen. Unless said citizen has zero respect for our country which they are free to do. But enacting their miscreant wishes into law and action is what this president has been all about. A juvenile delinquent wanting to spray paint his name on your garage door.
[already been discussed ad inifinitum]
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