....ably done by Mark Zandi of Moody's, and ably accepted without question by Yahoo finance. How so?
Simple. Zandi's estimate of a $105 billion loss due to the end of DACA (Obama's illegal, unconstitutional "Dream Act" for children brought illegally into the country) simply assumes that the children of illegal immigrants--largely farmers from Latin America--are just as productive, economically speaking, as the average immigrant--which includes a huge number of green card holders, H1B visa holders, and the like who have advanced degrees.
So while, for the sake of the "dreamers", I hope Zandi is right, statistics suggests he's put his finger on the scales of his estimates in a major way. The kids of illegals simply are unlikely to have the same productivity as the kids of legal immigrants.
In related news, former President Obama has spoken against the repeal of his initiative not by arguing it's legal--he himself admitted it wasn't--but by arguing that it was cruel. Well, yes, there is indeed going to be a lot of pain about this going forward, as a lot of people could end up, barring Congressional action, going home after a life spent here--some claiming to not even know the languages of their homelands.
But in the same way, it's cruel to the rest of us to have wage rates for the poor suppressed by a surplus of low skilled labor, and to have the rest of us providing schools and welfare for an additional group of poor people, and for us to be incarcerating those illegal immigrants who commit crimes--these data indicate that 90% of the 45000 immigrants in federal prison are here illegally.
I'm not holding out for a good deal regarding DACA at this point, sad to say. It appears, really, that on the left, even the deportation of felons is frowned upon. Why, exactly, we would need more felons in this country is beyond me, but I can come up with no other explanation for sanctuary cities.
The Two-Income Trap - The Two-Income Trap: Why Middle-Class Mothers & Fathers are Going Broke, by Elizabeth Waren and Amelia Warren Tyagi. Published in 2003. Hardcover, 272 page...
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