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Money we don't have
TooBig
Member Posts: 28,559 ✭✭✭
Amnesty Costs 70 Times More Than Enforcement
The cost of amnesty: $999 billion.
The cost of attrition by enforcement: as little as $14 billion.
Amnesty would cost up to 70 times as much as enforcing existing law.
$999 billion cost of Amnesty (Mass Legalization)
Source: The Heritage Foundation
Summary: The Heritage Foundation issued two studies in 2007 pointing out
that the big problem with mass legalization is that (a) most illegal
aliens are low-skilled and therefore do not earn enough money to pay
enough taxes to cover the government benefits they receive; and (b),
amnesty would eventually make them eligible for the full array of welfare
and medical benefits offered by local, state and federal governments. They
found the cost of allowing illegal aliens to remain in the United States,
and eventually to become citizens, would be $3.7 trillion through the year
2056. That works out to a present cost of $1 trillion, at a 5 percent
discount rate. In other words, immediately upon passage of an amnesty
bill, the United States government would need to put $1 trillion into an
investment earning 5 percent per year if it were honest about paying for
the costs of amnesty.
The cost of amnesty: $999 billion.
The cost of attrition by enforcement: as little as $14 billion.
Amnesty would cost up to 70 times as much as enforcing existing law.
$999 billion cost of Amnesty (Mass Legalization)
Source: The Heritage Foundation
Summary: The Heritage Foundation issued two studies in 2007 pointing out
that the big problem with mass legalization is that (a) most illegal
aliens are low-skilled and therefore do not earn enough money to pay
enough taxes to cover the government benefits they receive; and (b),
amnesty would eventually make them eligible for the full array of welfare
and medical benefits offered by local, state and federal governments. They
found the cost of allowing illegal aliens to remain in the United States,
and eventually to become citizens, would be $3.7 trillion through the year
2056. That works out to a present cost of $1 trillion, at a 5 percent
discount rate. In other words, immediately upon passage of an amnesty
bill, the United States government would need to put $1 trillion into an
investment earning 5 percent per year if it were honest about paying for
the costs of amnesty.
Comments
The federal reserve charges the Govt interest on the money the Fed prints up out of thin air.
This is very good for the banks, and very good for the politicians that get campaign contributions from the banks...
CA -IF that be the case,Why are all these banks going broke[?]
they sold the note at a discount to foreign investors. people default on the loans and they can't hold them to it. no notes, no new notes..
A) The federal reserve is a collection of 12 private banks - not every bank is a part of the Federal Reserve - No not every bank makes money off of the interest on the US debt.
Why do you think the banks got all the bailout money? they control congress.
Its quite a racket they've got going.
The banks (in general, not the 12 that are members of the Fed- as the fed can print it out of thin air) need more capital.
The Fed creates the money and loans it the the government, which will need to pay it back with interest.
The government gives the money to the banks as a bailout.
Ie the banks are charging the US taxpayer interest on money that didn't really exist that they loaned themselves.
The banks are the most powerful lobby in Washington, and the most over looked...