Daily Caller | Harvard Economist: Immigration Costs US Workers $500 Billion A Year

via The Daily Caller:

 

Empty Wallet (200x200)Harvard Economist: Immigration Costs US Workers $500 Billion A Year

by Rachel Stoltzfoos | March 16, 2016

Immigration effectively redistributes half a trillion dollars from U.S. workers to the businesses that hire immigrants each year, Harvard economist and immigration and wages expert George Borjas testified before Congress Wednesday.

Based on a supply and demand model, Borjas found an increased supply of immigrants competing in the U.S. job market does produce a net gain for current U.S. workers of about $50 billion a year. But that small gain in the context of an $18 trillion economy is far outweighed by a transfer of wealth from U.S. workers to the businesses that hire those immigrants that amounts to $500 billion dollars.

“What immigration really does is not so much increase the pie, as redistribute the wealth,” Borjas testified before the Senate Subcommittee on Immigration and the National Interest. “So what I’ve learned from all this is that immigration happens to come out to be just another government redistribution program.”

“This is not in the people’s interest,” Republican Sen. Jeff Sessions, chairman of the subcommittee, said in his opening statement. “Our goal should be to work every day to create policies that advance the training, and the job prospects of Americans first — lawful immigrant and native-born alike. That is our responsibility.” (Read More)

 

Read the full article on The Daily Caller

 

 

C4P - SHARE



(3831 Posts)

Leave a Reply