NightTrain
05-04-2017, 03:37 PM
$2.5 Billion. That's a lot of money lost to our economy.
With fears the Trump administration will tax or block south of the border cash transfers, remittances sent to Mexico from the United States jumped 15 percent in March from the same period last year – marking one of the largest cash transfers from Mexicans living north of the border to friends and family back home.
Mexico's central bank, Banxico, reported that around $2.5 billion in cash transfers were sent to the country from the U.S. last month, compared to $2.2 billion a year earlier -- and making March the third largest in U.S.-Mexico remittance history. In October 2008, individuals sent to Mexico $2.6 billion and in May 2006 $2.5 billion went to the country.
Another interesting tidbit from this article :
The U.S. currently does not tax remittances as they are transfers of previously owned money rather than payments for goods or services. Mexico also does not tax those who receive remittances as long as the transfers are for less than a predetermined amount.
Remittances are the country's second-largest source of income after automotive exports. Last year remittances rose to almost $27 billion, the highest on record, far surpassing the $15.6 billion Mexico earns from oil exports and the $17.5 billion in tourism income Mexico received in 2015.
http://www.foxnews.com/world/2017/05/03/fears-trump-spur-near-record-cash-transfers-from-us-to-mexico.html
Holy. Crap.
2nd largest source of income in the entire country? I knew it was a lot, but I didn't think it was that huge.
Is it any wonder that the Mexican Government is vehemently against the whole anti-illegal scourge?
Grab this money and pay for the wall. There's tons of precedent for seizing illegally gotten money - tax cheats, drug dealers, laundering, arms deals... the list goes on and on. Illegals unable to prove their right to be here automatically got that money illegally. Take a minimum of 50% of it.
With fears the Trump administration will tax or block south of the border cash transfers, remittances sent to Mexico from the United States jumped 15 percent in March from the same period last year – marking one of the largest cash transfers from Mexicans living north of the border to friends and family back home.
Mexico's central bank, Banxico, reported that around $2.5 billion in cash transfers were sent to the country from the U.S. last month, compared to $2.2 billion a year earlier -- and making March the third largest in U.S.-Mexico remittance history. In October 2008, individuals sent to Mexico $2.6 billion and in May 2006 $2.5 billion went to the country.
Another interesting tidbit from this article :
The U.S. currently does not tax remittances as they are transfers of previously owned money rather than payments for goods or services. Mexico also does not tax those who receive remittances as long as the transfers are for less than a predetermined amount.
Remittances are the country's second-largest source of income after automotive exports. Last year remittances rose to almost $27 billion, the highest on record, far surpassing the $15.6 billion Mexico earns from oil exports and the $17.5 billion in tourism income Mexico received in 2015.
http://www.foxnews.com/world/2017/05/03/fears-trump-spur-near-record-cash-transfers-from-us-to-mexico.html
Holy. Crap.
2nd largest source of income in the entire country? I knew it was a lot, but I didn't think it was that huge.
Is it any wonder that the Mexican Government is vehemently against the whole anti-illegal scourge?
Grab this money and pay for the wall. There's tons of precedent for seizing illegally gotten money - tax cheats, drug dealers, laundering, arms deals... the list goes on and on. Illegals unable to prove their right to be here automatically got that money illegally. Take a minimum of 50% of it.