25 Billion Dollars Vanishes From The US Economy

(Sue Bee)  265 million, that’s the amount according to Foreign Assistance.gov the U. S. gave to Mexico in 2013.

25 Billion, that’s the amount sent to Mexico in “remittance” from Mexican citizens living in the U.S. The number could be many billions higher according to the World Bank because not all money transfers originate from banks.
Anyone who has ever stood in line at Wal-Mart’s front desk would agree. How much of those billions are sent by illegals (or unauthorized, undocumented, immigrants depending on which way the PC wind is blowing )? And how many illegals currently reside from sea to shining sea? Homeland Security and the Pew Research Center estimates 11 to 12 million. The Time Magazine article “ Who left the door open” gave the number at 15 million. A Wall Street Independent Study set the number around 18 million. If you ask the Tucson Sector Border Patrol Union 2544, whose estimate should command more attention due to proximity alone, the number is closer to 20 million.

Check out their website at local2544.org for eye opening information.

11 to 20 million Mexicans sending billions of dollars out of the U.S. , money that assuredly will not be put back into our economy. How many of the over 750,000 businesses, according to statisticbrain.com, that closed in 2013 due to inadequate sales would still be open employing people and paying taxes if those billions were kept and spent here? Where does the money come from? The Heritage Foundations “ Fiscal Cost of Unlawful Immigrants and Amnesty to the U.S. Taxpayer” says in 2010 illegal households received over 24,000 each in government benefits. Federation for American Immigration Reform states that 50% of working illegals are “paid under the table” in cash. The other 50% who do pay taxes, using an I.R.S. issued I.T.I. number, receive that revenue back in refunds when they file a tax return. Many also claim credits that result in a payment from the U.S. Treasury. The Treasury Inspector General for Tax Administration report from 2010 reports 4.2 billion was refunded to individuals not authorized to work in the U.S. Why is it so easy to send money out of the country?

In 2001 as part of the Partnership for Prosperity Program, Presidents Bush and Vicente Fox devised programs to reduce the cost of sending money across the border. The taxpayer subsidized “Directo a Mexico” permits money to be sent through the Federal Reserve System to Mexico’s Central Bank. An estimated 27,000 transfer reach Mexico through this program monthly. The Federal Reserve Bank Services brags on its website about the benefits of Directo a Mexico, “ the amount of funds transferred into Mexico is the second largest in the world ……almost all the remittances originate in one country, the U.S.” Wells Fargo and Bank of America have lowered transfer fees and accept Mexican consulate issued ID cards as identification to capture a larger share of the Latino market. The Poni card is also available in many large U.S. cities. Migrants can buy the Poni card, similar to a phone card, in various peso amounts . Sent south of the border the card is then used to withdraw that amount from an ATM. This wind fall for Mexico is their second largest source of income after oil.

With the amount of money bleeding across our southern border every year we can be assured that Mexico will do nothing to discourage their citizens from continuing to enter the U.S. by any means necessary. And if the complacency from the White House continues after the 2016 election we can expect nothing to change on this side either.

Thanks to P. F. Wagners excellent website The Dark Side of Illegal Immigration for much thought provoking information.