Saturday February 16, 2013, 7:33 am
Economic Benefits Of Immigration Reform Outweigh Costs, Study Says (INFOGRAPHIC)
The Huffington Post | Posted: 02/07/2013 12:35 pm EST
While opponents of immigration reform often portray undocumented immigrants as a potential drag on the economy, some research shows legalizing their status would likely provide an economic boost.
According to an infographic produced by the Financialist, a digital magazine produced by Credit Suisse, the economic gains of immigration reform far outweigh the potential costs.
economic benefits immigration reform
The infographic predicts that comprehensive immigration reform would provide a $1.5 trilion benefit to the GDP over 10 years, along with a $66 billion boost in federal tax collection. Those figures would more than offset the potential costs of the same.
The Financialist modeled its projections on the 2006 comprehensive immigration reform proposal and based the graphic on information from the Congressional Budget Office and a 2010 study by Raúl Hinojosa-Ojeda for the Immigration Policy Center and the Center for American Progress.
The digital publication isn't the only one trying to move the immigration debate beyond social issues into the economic realm. Conservative New York Times columnist David Brooks said in a piece last month that reform advocates should drop the humanitarian argument and instead focus on the economic one:
The forlorn pundit doesn’t even have to make the humanitarian case that immigration reform would be a great victory for human dignity. The cold economic case by itself is so strong.
Increased immigration would boost the U.S. economy. Immigrants are 30 percent more likely to start new businesses than native-born Americans, according to a research summary by Michael Greenstone and Adam Looney of The Hamilton Project. They are more likely to earn patents. A quarter of new high-tech companies with more than $1 million in sales were also founded by the foreign-born.
Sunday February 17, 2013, 1:07 pm
Let me start by saying, no, i did not read this whole long-winded report, but from what i read, it is very narrowly focused on potential earnings increase with naturalization. The problem is that 11 million illegals made legal has a much greater impact on a society than how much more money they can make, (and, yes, i understand that this increase means more money exchanging hands and more taxes collected, etc.). But, 1st, they have to find jobs! We have our own college grads living at home because there are No jobs!
2nd, this additional 11 million people will tax an already fragile health care system and an education system already on life-support!
The answer is to spend our foreign funds on actually making things better for those people in their own countries, instead of spending it on what's good for 'corporate amerika', (who by the way, happens to be the real beneficiary of 'naturalization', because for the most part it provides a cheap supply of labor, especially agricultural, to the labor market, which in turn, drives wages down across the board, excepting the crooked CEOs etc.)
Sunday February 17, 2013, 1:36 pm
Thanks Robert for adding some points however I believe the data indicates it is wrong to assume anywhere near a majority of the 11 million are unemployed adults--most of the adults already have jobs and a decent percent of the undocumented (humans cannot be illegal only actions can be) and thus the numbers do indeed work as documented in this report.