Immigration reform could spark a $1.4 trillion boom
A study finds that granting citizenship to undocumented workers would increase pay, tax revenue and overall spending.
Would Americans still think it's a good idea if that boom required granting undocumented immigrants immediate citizenship? The answer might be less than unanimous, but the folks at the Center For American Progress say it's an idea worth considering sooner rather than later.
Five years after gaining citizenship, undocumented workers would make 25.1% more annually, according to a study obtained by The Huffington Post. That raise will "ripple through the economy" as immigrants use their income to buy goods and pay taxes.
The plan, as with nearly any mention of immigration reform in the U.S., has drawn its fair share of criticism. In his book "Immigration Wars: Forging An American Solution," former Florida Gov. Jeb Bush insists that the economic benefits of a path to citizenship are outweighed by the potential damage to the "integrity of our immigration system."
The junior senator from Bush's state, Republican Marco Rubio, flat-out disagrees and has joined Arizona Sen. John McCain in calling for a clear and immediate path to citizenship for undocumented workers. They wouldn't be the first or even the most high-profile Republicans to make that call, either.
In 1986, Ronald Reagan made immigration a priority of his presidency by instituting the Immigration Reform and Control Act, which National Public Radio recently spotlighted for granting amnesty and, eventually, citizenship to undocumented workers who had been in the country since 1982.
How did that work out? Ask the Department of Labor, which reports that immigrants granted citizenship under Reagan's plan got a 15.1% bump in pay immediately afterward.
But what if Americans just aren't ready for such a sweeping change in immigration policy? Then they're going to have to wait a whole lot longer for a payout while they make up their minds. The Center For American Progress study showed that delaying the citizenship process could put off benefits for both workers and the greater economy by a decade or more.
All those guesser polls, estimates, need to realistic. Their domestics (cleaning, gardening and ect.) are not full time and able to collect unemployment, welfare and any other benefits. Throw in the seasonal jobs and other low paying jogs as well. If they think that employers are automatically are going to pay benefits and taxes, think again. Huffington post "ripple" is in effect NOW: the immigrants are buying goods. The other joke is the 25.1%. The average full time employee works 2000 hours a year and if he makes $10 an hour or $20,000 a year in wages. The end of the first year he would get a realistic raise between 1 and 3%, I'll use 3%. In 5 years they will earn $3185.49 which is about 16%, not 25%. In my opinion the economy probably will allow less than 3% per year in raises.
Why do we sit and watch the soothe Sayers spin their tales about utopia when the economy is going to hell in a basket: they want us dumbed down and doing well with it.
I don't buy it. #1.. theres only so much cash.. one person getting more means someone getting less. or its just being spent in a different way #2. They are already here spending money #3. they are already here doing the work
How does making them a legal citizen change that?
Good Grief, financial advice from the Huffington Post and The Center for American Progress. Two of the few remaining bastions of Marxist economic theory that remain after the fall of the Soviet Union. The Communist Chinese gave up on this type of stupidity years ago, and we've been embracing it. No wonder the Chinese economy will eclipse us within two years.
ok let's do the math increase tax revenue by $184 billion this means the 203,000 new jobs are going to pay at 15 percent tax rate $6,042,692 a year wages per person.
And only add $1.2 trillion to the national GDP not the $1.4 trillion as the article stated.
PLEASE FIND ME ONE OF THESE NEW JOBS
THINK HOW RICH WE WOULD BE IF WE ALLOWED AN ADDITIONAL 100,OOO,OOO ILLEGALS TO ENTER THECOUNTRY. EVERYONE WOULD BE A MILLIONAIRE.
Blacks were brought here from greed and look what we ended up with. Now we
have latins here for greed purposes and they are "illegal". If you forgive this criminal
why not take the killers, rapist, etc into your home for your wife and children to use
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[BRIEFING.COM] The stock market finished a down week on a cautious note with small caps leading the retreat. The Russell 2000 lost 0.5%, widening its weekly decline to 2.6%, while the S&P 500 shed 0.3%. The benchmark index ended the week lower by 2.7%.
This morning, the market was provided a basis to rebound with the July employment report, which was just right for the policy doves (209K versus Briefing.com consensus 220K). It showed payroll growth that was weaker than expected, ... More
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