Tuesday, May 28, 2019

Report: Migrants’ Remittances Drain $150 Billion a Year from Economy

AP Photo/Ann Johansson
Legal and illegal migrants send $150 billion in untaxed funds back to their homelands each year, denying the remittances to Americans and their communities, according to a Federation for American Immigration Reform (FAIR) report.
The United States’s “generous and lax immigration policies have led billions of dollars to flow out of our economy untaxed, which is a disservice to Americans,” said a statement FAIR President Dan Stein made about the remittances. “When our country urgently needs tax revenue to improve physical and societal infrastructure programs, it’s imperative to address this drain on our resources immediately.”
The exported funds should be taxed, partly because a tax would help reduce the amount of exported funds, said FAIR’s report:
Top recipients of remittances from the U.S. in 2017 
It is bad enough that American taxpayers are being asked to provide welfare for foreign nationals in the United States. It only adds insult to injury when our state, local and federal governments allow income that could be taxed to reduce some of the costs associated with unchecked mass migration (both legal and illegal) to simply flow out of the U.S. economy and into foreign pockets.
The funds come from the roughly 45 million foreign-born legal immigrants and illegal migrants who are living alongside 280 million Americans. The migrants come from various countries, including Mexico, China, and India
. Read the rest of the story HERE.

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