Did you know Mexicans living abroad sent $11 billion home in the first half of 2006?

Question

Which is an increase of 23 percent over the same period last year, the government news agency Notimex reported Friday.

Remittances have become an increasingly important source of income for the country in recent years, surpassing tourism. They represent Mexico's second-largest source of foreign income after oil.

They topped $20 billion for the first time in 2005, a 17 percent increase from the previous year.

Where is the unemployment insurance for Mexican workers?
Instead of doing the hard work to benefit Mexican citizens, Fox is relying on America's natural sympathy for the underdog. He hopes that gullible American politicians will ignore the bottom 25 percent of families that have been hurt by low wages in the U.S., just as he has ignored them in Mexico. Remittances have become an increasingly important source of income for the country in recent years, surpassing tourism. They represent Mexico's second-largest source of foreign income after oil.They topped $20 billion for the first time in 2005, a 17 percent increase from the previous year.

Answer 1

Yet you never see the balance of trade costs offset against any claims for cheaper produce, etc. The more you look, the more expensive you find that illegal immigration is.

Sqwirlgirl- we can't block free flow of funds by private individuals. However, the fact that illegals send money home in this number rather than spending it here is another element of cost to off set from the 'cost' of paying Americans (who don't do this) a living wage.

And Bunt, don't be ridiculous. To access your bank account from Europe, all you would have to do is write a counter check.

Answer 2

The Average NOW Is 39 Billion Annually
Second Only To Mexicos Oil Export Revenues
On The Chart Of Mexicos GNP

There Is A Nationwide Deficit
In Funding For Public Schools
Totalling 28.8 Billion ANNUALLY (Average)

Why Are We Supporting Mexicos Economy
But At The Same Time
Educating The Children Of Mexico At A Deficit??

Answer 3

I read an article once......will try to find the link. That said that illegals account for billions on both sides. They are spending and contributing in the US and sending to family in Mexico.....so it compliments both countries and that is the reason BIG business and OUR politicians have taken the low road.

While I am pro-amnesty.......I still often wonder why our Pres jumped into bed with FOX whenever possible and kept illegal immigration "low key" for as long as he did. It had too line someones pocket? Regardless.....if the numbers you quoted are correct THEN we need to NOT ONLY SECURE our borders but look at banking and flow..........OOPS wait......is that the start of a fascist or communist lifestyle. Crap.......what now Zoe........what now?

Answer 4

That's not so bothersome to me, as long as it was money they earned working at jobs, my big sticking point with the whole thing is legal/illegal. legal 'si', illegal 'no', and I don't care how much money we're talking about, it's the principle of the thing. But the OTHER income they don't talk about is the billions in drug trade...

Answer 5

Yes, and it's not only the Mexicans but all illegals. If we were legal, we would invest out money here, but since we have no security for tomorrow, we are forced to send it where it's safe. Imagine being deported and not getting access to your bank account anymore. Would YOU keep our money here? No. Then what do you expect from us?
Moreover, Hispanics can't open a bank account if they don't have a valid SSN and a visa on their passport. So they are forced to send their money home. You don't wanna have your cash stacked at home with all those back robberers around...The US company Western Union is making tons of $$$$$$ on the poor illegals' backs!

Answer 6

Agree with Bunt!

Answer 7

And our banks are making it easier and cheaper for them to do that ... nothing like big corporations jumping on the bandwagon .... http://utopia.utexas.edu/articles/tbr/remittance.html?sec=business&sub=banking

Bunt, you're sooooo wrong yet again ... illegals can open bank accounts, and they do .... read this link, you might learn something ..........

Answer 8

Just what kind of taxes do they pay on that money they send home?????? NONE and that is total B.S.

Answer 9

wow some ppl is working, no playing on internet,

Answer 10

the government also factor in proceeds from illegal drug sales.