The Richer the Poorer Video
SHORT STORY: Video 1 \ The Richer the PoorerBusiness groups like the Chamber of Commerce howled in outrage. Immigration and guest-worker programs grow the economy, they claim -- so by cutting off the flow of roughlyguest workers this year, President Trump is impeding the economic recovery and hurting Americans. This is at odds with reality.
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Restricting the influx of foreign workers makes Americans better off, especially during times of high unemployment. On the most elementary level, it's true that immigration grows the economy -- but only because it increases the total population. Measuring a country's economic wellbeing based click GDP alone, without factoring in population size, is silly. Consider an example. That's 71st in the world -- far behind poverty-stricken nations like India and Nigeria, which have the world's fifth and 27 tye largest economies, respectively.
So the relevant question isn't whether high levels of immigration and guest-worker programs boost GDP. The Richer the Poorer do, in the same way that annexing Canada would boost U.
Does importing millions of foreign workers make Americans better off? For tens of millions of Americans, the answer is no. Almost all of that money went to immigrants themselves as income. Most of the remainder was captured by businesses, who benefit from cheaper labor. Harvard professor George Borjas finds that for every 10 percent increase in the size of a given labor pool due to immigration, workers' wages in that pool decline 3 percent.
Data and Methodology
In other words, immigration is a boon for CEOs and shareholders. For regular American workers, it's an enormous drag on their earnings. The National Academy of Sciences has reached a similar conclusion. It published an exhaustive report in examining the economic impact of immigration and found that American The Richer the Poorer with similar skills as foreigners "may experience a wage reduction as a result of immigration-induced increases in labor supply. No one, least of all me, will deny that many immigrants are hardworking and contribute to the United States. No one else should deny, either, that high levels of immigration drive down wages and displace American workers, who can and will do any job in the United States. The solution isn't to end immigration. In order to bring about genuine immigration reform, the federal government needs to The Richer the Poorer the law to stop illegal border crossings and to hold criminal employers who hire illegal aliens accountable, as was the compromise that accompanied the amnesty.
The laws are already on the books. What's lacking is political will. Congress also needs to finally follow the recommendations made by the Jordan Commission in and reduce annual admissions of legal permanent residents. These are commonsense reforms that would benefit the American people, as well as allow newly arriving immigrants the opportunity to more easily assimilate, both economically and culturally. America's economy is slowly recovering from COVID -- but the unemployment rate remains above seven percent.
Why College Financing Matters
Importing more foreign https://amazonia.fiocruz.br/scdp/blog/story-in-italian/dbq-jeffersonian-vs-federalists.php would boost GDP, but only at the cost of tens of millions of Americans' financial wellbeing. President Trump was right to suspend guest-worker visas. Whoever the next President is, he should keep tbe mind that "growth" is not substitute for an economy in which the average American has the chance to prosper. Townhall columnists Shakil Hamid.
The opinions expressed by columnists are their own and do not necessarily represent the views of Townhall. View Cartoon.]
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