Trump Eyeing One of Mexico’s Biggest Sources of Outside Cash in Move Sure To Terrify Mexican Gov’t
Apr 11, 2019 19:08:03 #
Trump Eyeing One of Mexico’s Biggest Sources of Outside Cash in Move Sure To Terrify Mexican Gov’t
https://www.westernjournal.com/ct/author/jharris/?ff_source=push&ff_medium=conservativetribune&ff_campaign=manualpost&ff_content=2019-04-10
The administration of President Donald Trump could soon be hitting a major source of Mexico’s income, and he might just tackle a large part of the i*****l i*******t crisis at the same time.
For much of 2014, Mexico’s biggest source of foreign income came from the crude oil trade. In December of that year, shifting dynamics gave the country a new primary source of foreign income: Remittances from Mexicans working north of the border supporting families back home.
As Forbes reported, remittances passed oil to become Mexico’s largest source of foreign money. In 2015, remittances accounted for a whopping $24.8 billion, dwarfing the next two largest sources, oil and tourism.
Money sent home by migrant workers in the United States is cash that will likely not make it back into our economy — at least not directly. It’s strengthening Mexico at the expense of American families.
And Mexicans are not the only ones sapping the U.S. economy.
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Breitbart reports that Central American workers in the U.S. sent $16 billion home in 2016. By 2018, this number rose to $20 billion.
The opportunity to enjoy the U.S. economy is what brings many people across our southern border, and Trump knows this.
Because the ability to send money back home from America brings is such a lucrative pull for economic migrants, the Trump administration is considering tightening the clamp around remittances altogether, according to The Wall Street Journal.
“A senior administration official on Tuesday said the White House is considering attempting to restrict the flow of remittances from the U.S., in order to discourage migrants,” The Journal reported....
https://www.westernjournal.com/ct/author/jharris/?ff_source=push&ff_medium=conservativetribune&ff_campaign=manualpost&ff_content=2019-04-10
The administration of President Donald Trump could soon be hitting a major source of Mexico’s income, and he might just tackle a large part of the i*****l i*******t crisis at the same time.
For much of 2014, Mexico’s biggest source of foreign income came from the crude oil trade. In December of that year, shifting dynamics gave the country a new primary source of foreign income: Remittances from Mexicans working north of the border supporting families back home.
As Forbes reported, remittances passed oil to become Mexico’s largest source of foreign money. In 2015, remittances accounted for a whopping $24.8 billion, dwarfing the next two largest sources, oil and tourism.
Money sent home by migrant workers in the United States is cash that will likely not make it back into our economy — at least not directly. It’s strengthening Mexico at the expense of American families.
And Mexicans are not the only ones sapping the U.S. economy.
TRENDING: Jaw-Dropping Video: Ilhan Omar Facing Outrage After Giving Her Take on 9/11 Terrorists
Breitbart reports that Central American workers in the U.S. sent $16 billion home in 2016. By 2018, this number rose to $20 billion.
The opportunity to enjoy the U.S. economy is what brings many people across our southern border, and Trump knows this.
Because the ability to send money back home from America brings is such a lucrative pull for economic migrants, the Trump administration is considering tightening the clamp around remittances altogether, according to The Wall Street Journal.
“A senior administration official on Tuesday said the White House is considering attempting to restrict the flow of remittances from the U.S., in order to discourage migrants,” The Journal reported....
Apr 11, 2019 21:51:33 #
eagleye13 wrote:
Trump Eyeing One of Mexico’s Biggest Sources of Ou... (show quote)
I've said this for 30 years. There should be a 20% minimum tax on it, or something, IMO.
Apr 11, 2019 22:17:01 #
debeda wrote:
I've said this for 30 years. There should be a 20% minimum tax on it, or something, IMO.
Agreed
Apr 12, 2019 08:42:19 #
debeda wrote:
I've said this for 30 years. There should be a 20% minimum tax on it, or something, IMO.
Good idea.
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