Remittances and what it means to the American Economy

Al Ritter

I’ve long been a proponent of taxing remittances. Foreign workers whether in the country legally or not have been depleting our resources for decades.

Most of these workers come from poor countries that offer little in the way of wages, so being an American worker even if paid sub-standard wages here, makes them more money than if they stayed in their home country.

Remittances are wages they earn here and then send back to family members in their home country. This is money that will NEVER return to the United States, never to be spent here to bolster OUR country’s economy.

In a recent article by left leaning Yahoo, they claim that the “Big Beautiful Bill” has already devastated third world countries by eliminating the fraudulently corrupt USAID, and taxing remittances will only make things worse.

I suppose it depends on whether you think our country should be propping up third world countries first, or we should be serving our citizens first. The answer to that was decided by 77 million Americans last November.

Just look at the remittances sent back to Mexico in 2021! $52 BILLION! That’s 4 years ago folks! What do you think that figure is now going back to Mexico?

IMO 3.5% is a joke of a tax on remittances, but it is a start

Read more of Yahoo’s whiny article here:

https://www.yahoo.com/news/millions-around-the-world-rely-on-money-sent-by-family-members-working-in-the-us-trumps-big-beautiful-bill-would-deal-them-a-financial-blow-194516497.html