Billions of dollars are lost to US economy each year as migrants send money back home

Neil Munro tells us about the lose at Breitbart yesterday:

Immigrants Sent $140 Billion From U.S. Back To Homelands in 2016

In fact, we have written many times about how these dollars sent back to Central American countries, like El Salvador, from people here on Temporary Protected Status literally prop up the economy of the country.

When you look at the newly released numbers, think about how Mexico and other south of the border countries (that regularly storm our border) could make a decent contribution to the price tag of The Wall if the Administration taxed remittance dollars flowing to those countries!

Here is Breitbart:

Legal and illegal immigrants wired almost $140 billion from the United States back to their home countries and foreign relatives in 2016.

The huge loss of domestic spending by of immigrants’ remittances is spotlighted in a new report by the Pew Research Center, which also noted that $6.5 billion was sent back to the United States by foreign-based U.S. workers. That is a 21-fold difference and is enough money to support 2.6 million additional $50,000 jobs in the United States.

The remittance number is based on calculations by the World Bank.

remittances

 

Now here are the top receiving countries.  For the full list go to the Pew report by clicking here.

remittance countries

 

Continue reading as Munro discusses the impact of the immigrant cheap labor supply entering the US.

I wonder if there is any way to determine how many of these dollars are taxpayer-supplied welfare dollars as opposed to those earned through gainful employment.


Click here to read the full article on its original website.