Tags: wealthy | pay | immigration | Buffett

Author Tonelson: Let the Wealthy Pay for Increased Immigration

By    |   Monday, 21 July 2014 01:21 PM

Bill Gates, the country's richest person, according to Forbes; Warren Buffett, No. 2; and Sheldon Adelson, No. 11, recently wrote an opinion piece in The New York Times calling for immigration reform allowing the flood of immigrants a path to citizenship.

That's all well and good, says author Alan Tonelson, founder of RealityChek, a public policy blog.

"But a critical point went unmentioned: Buffett et al and other rich Americans have long been the biggest domestic beneficiaries of greater immigration, and they stand to win even bigger if reform efforts boost the influx further," he writes in Fortune.

Editor’s Note:
Get These 4 Stocks Before 399% Stock Market Rally!


"Luckily for the wealthy, there's a simple and fair way to break any deadlock for immigration reform. They could agree to foot the lion's share of the bill for providing the full array of public services most new immigrants will long need."

Research shows that immigration mostly helps the wealthy, Tonelson says. Increased immigration creates a bigger labor supply. And that enables senior executives and other wealthy people to hire workers for lower wages.

"Needless to say, having more workers typically doesn't bode well for those competing with immigrant labor, especially when unemployment is high amid a slow-growing economy," he writes.

Meanwhile, the recent wave of illegal immigration into the United States at the Mexican border might be stiffening Republican opposition to immigration liberalization, The Washington Post reports.

A poll taken by Pew Research earlier this month shows that 54 percent of Republicans believe that undocumented immigrants who meet certain requirements should be allowed to stay in the country legally, down from 64 percent in February.

Editor’s Note: Get These 4 Stocks Before 399% Stock Market Rally!

© 2019 Newsmax Finance. All rights reserved.

   
1Like our page
2Share
StreetTalk
Bill Gates, the country's richest person, according to Forbes; Warren Buffett, No. 2; and Sheldon Adelson, No. 11, recently wrote an opinion piece in The New York Times calling for immigration reform allowing the flood of immigrants a path to citizenship.
wealthy, pay, immigration, Buffett
287
2014-21-21
Monday, 21 July 2014 01:21 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved