𝗧𝗛𝗘 𝗙𝗜𝗡𝗔𝗡𝗖𝗜𝗔𝗟 𝗜𝗠𝗣𝗔𝗖𝗧 𝗢𝗙 𝗜𝗠𝗠𝗜𝗚𝗥𝗔𝗡𝗧𝗦 𝗢𝗡 𝗧𝗛𝗘 𝗨.𝗦. 𝗘𝗖𝗢𝗡𝗢𝗠𝗬~𝗟𝗘𝗧'𝗦 𝗟𝗢𝗢𝗞 𝗔𝗧 𝗧𝗛𝗘 𝗡𝗨𝗠𝗕𝗘𝗥𝗦!

 

From the editor: All of the numbers used in the report below come from the Congressional Budget Office.  

                                       

                                 

Despite the stock market being down $4T since Trump took office January 20, the "King of Tariffs" is stubbornly forging ahead with round 2 of anti-free trade tariffs.

But, that's not the only way Trump is wrecking the good economy he inherited from the mumbling Biden.  Trump's obsession with the deportation of immigrants, most here legally, is set to do horrific damage to our nation's financial well-being.

In 2024, immigrants contributed significantly to the U.S. economy, with the Congressional Budget Office (CBO) estimating that a surge in immigration will boost GDP by $7 to $8.9 trillion over the next decade, increase federal revenues by $1.2 trillion between 2024 and 2034, and reduce the federal deficit by $0.9 trillion.

In 2022, immigrants paid an estimated $383 billion in federal taxes.  They also pay billions into Social Security and Medicare although most will never be eligible for payments.

The chart below shows the net effect of immigration on Federal revenues and deficit reduction, although Trump's fixation with deportations will change those numbers.

                                        

Also farmers from across the country — from small organic berry growers in Maine to large-scale hog producers in Iowa — say those Trump's immigration policy changes could cripple their businesses if they aren’t resolved soon, wreaking long-lasting damage on the U.S. agriculture industry. 

"It's a lot of hands to hand-harvest fruits and vegetables," New Jersey farmer Kurt Alstede said. 

More than two-thirds of U.S. crop workers are foreign born, according to the USDA. Many of them came to the country through the H-2A visas, but officials estimate that 42% of the workers are undocumented migrants.

Now, let me share the MAGA counterargument:  MAGA claims that undocumented immigrants receive "free money" and send $44B of that back to their countries of origin.

Well, first of all, undocumented immigrants are not eligible for federal healthcare programs such as Medicaid, CHIP (Children's Health Insurance Program), or Medicare, or to purchase coverage through the ACA Marketplaces. 

They are, however, eligible for emergency medical care under the Emergency Medical Treatment and Active Labor Act (EMTALA). 

Also, some states have established fully state-funded programs to provide coverage to immigrants regardless of immigration status, although eligibility and benefits vary. 

California became the first state to offer health insurance to all eligible undocumented adults, expanding Medi-Cal coverage to low-income immigrants regardless of their immigration status. 

Some other states, like Colorado, Illinois, Minnesota, New York, Oregon, and Washington, also offer state-funded coverage or subsidies for immigrants, regardless of their status. 

An estimated 60% of illegal immigrant households currently use at least one welfare program, with an estimated $5,692 in federal benefits received annually. Some benefits, such as the EITC and CTC, provided an estimated $3.8 to $4.5 billion in outright cash payments to illegal immigrants during 2024.

So, yes, undocumented immigrants received between $3.8 and $4.5B in cash payments in 2024, but remember they paid $383B in federal taxes in 2023 and billions into Social Security and Medicare and also are expected to grow our economy by between $7 and $8.9T between 2024 and 2034, while reducing the national deficit by $0.9T.  That's TRILLION!

Increased immigration creates a larger labor force and increases demand for goods and services, which in turn drives economic growth. 

Immigrants also contribute to overall economic growth by expanding the labor force and increasing consumer spending. 

Many immigrant entrepreneurs are also driving innovation and job creation in the U.S. 

In 2024, 46.0 percent of all Fortune 500 companies were founded by immigrants or their children. 

These new American firms generated $8.6 trillion in revenue in fiscal year 2023, exceeding the GDP of many developed countries. 

Effects of the Immigration Surge on the Federal Budget and ...

Jul 23, 2024 — CBO estimates that increased immigration will add $1.2 trillion in federal revenues over the 2024–2034 period. 

Looking at all these numbers, it's obvious that immigration, legal and undocumented has been a tremendous financial boon to the United States.

Trump wants to wreck all that because of his overt racism.