Legalized immigrants could add $2 billion in taxes
A nonpartisan study shows that granting them such status would allow them to pay a great deal more.
A study conducted by the Institute on Taxation and Economic Policy (ITEP), a nonpartisan research organization, says the country's 11.2 million undocumented immigrants already collectively contributed $10.6 billion to states and localities in 2010 through sales and excise taxes, as well as through property and income taxes.
That number could swell to $12.6 billion if undocumented immigrants were allowed to work legally, pay more in state income taxes and kick in their full share to federal, state and local tax systems.
The immigration reform legislation Congress is now considering would give many unauthorized U.S. workers the legal right to work. ITEP's analysis assumes that legalization would allow those workers to bargain with employers, increase their income and, in turn, boost their tax contributions.
The study piggybacks on the findings of the nonpartisan Congressional Budget Office, which estimates that the current immigration legislation would decrease the federal deficit by $197 billion and generate more than $450 billion in additional federal revenue over the next decade, if passed.
The Center for American Progress also indicates that immigration reform could add more than 200,000 new jobs and $1.4 trillion to the overall economy as immigrants use their income to buy goods and pay taxes.
So, where do U.S. taxpayers stand on giving undocumented workers legal status? According to the Pew Research Institute, their resounding answer is "Sure, now fork it over." A full 75% of those surveyed told Pew they agree that it would be "better for the economy for undocumented immigrants to gain legal status and become legal workers." That includes 70% of Republicans and 83% of Democrats.
That said, there's still a little trepidation about the effects of that legalization. Little more than 50% of surveyed taxpayers said granting immigrants legal status would take jobs from U.S. citizens, while 61% said it would be a drain on government services.
Those folks are still outnumbered, however, by the 77% who felt deportation is unrealistic and the 75% who believed most undocumented workers are hard-working and deserve a chance to stay in America and improve their lives.
This is making the broad assumption that those illegal immigrants currently residing & working here without paying taxes through legal employment, would switch to paying taxes. If they are getting paid under the table today - why would they switch? And if their employer is paying them under the table to avoid its portion of employment taxes - why would they switch?
Likewise, if they are already here - they are spending money on consumer goods - so how does legalization provide an upward tick in consumer spending & job growth?
This guys an idiot!! Based on these incomes, how many of these immigrants will be paying tax's?? Better yet how many will actually be getting a check come year end because they fall under the poverty level?
Then lets add in all the subsidies, cost for schools, medical, daycare, vouchers, etc.etc.
Do your home work -----------------moron. GGRRRRRRRRRRRR
i love the sub headline has the key word "COULD" in it.
that doesnt mean it will.
the libbies attempt to sell this has failed.
how about an article on how the democrats in the senate refusing to pass a bill keeping student loan interest rates at 3.4 instead of jumping to 6.8% ITS OBVIOUS DEMOCRATS HAVE A WAR ON STUDENTS AND ARE ALSO THE NEW PARTY OF NO
COULD, COULD, COULD ................ and rainbows and unicorns COULD be the answer to climate change, unlimited emission free energy, and idiotic politicians who buy votes and pander (spend tax money on) those who have never and will never contribute to the poor nation that is saddled with them!
MORE LIKELY, LEGALIZED IMMIGRANTS WILL FURTHER BRING DOWN THE WAGE SCALE, AND OPERATE OUTSIDE THE PAY STUB AND THE TAXES THAT WOULD HAVE BEEN ITEMIZED WITHIN ............. WHILE DIGGING IN LIKE A LOUISIANA TICK ON A RED BONED HOUND DOG ON THE ENTITLEMENT GRAVY TRAIN!
If we don't legalize these people, you could be paying tens of thousands of dollars for a pint of strawberries!
Oh, the humanity.
The last bag of brussel sprouts I bought were grown in Mexico. Go figure?
Copyright © 2014 Microsoft. All rights reserved.
Fundamental company data and historical chart data provided by Morningstar Inc. Real-time index quotes and delayed quotes supplied by Morningstar Inc. Quotes delayed by up to 15 minutes, except where indicated otherwise. Fund summary, fund performance and dividend data provided by Morningstar Inc. Analyst recommendations provided by Zacks Investment Research. StockScouter data provided by Verus Analytics. IPO data provided by Hoover's Inc. Index membership data provided by Morningstar Inc.
[BRIEFING.COM] The stock market finished an upbeat week on a mixed note. The S&P 500 added just over a point, holding its weekly gain at 1.0% while the Nasdaq lost 0.4%.
The major averages began the day on an upbeat note, but relinquished their opening gains during the first 90 minutes of action. The early sentiment was boosted by a better-than-expected nonfarm payrolls report for February (175K versus Briefing.com consensus 163K), but a closer look into the report suggested that ... More
More Market News
The solid report comes a month after the retailer closed all of its Canadian operations.
MUST-SEE ON MSN
- Video: Easy DIY smoked meats at home
A charcuterie master shares his process for cold-smoking meat at home.
- Jetpacks about to go mainstream
- Weird things covered by home insurance
- Bing: 70 percent of adults report 'digital eye strain'