4 ways Trump's mass deportation plans could hurt your finances

[IronLionZion]

https://www.cnn.com/2024/11/11/business/deportation-immigration-trump-cost-americans/index.html



Higher prices
Deporting millions of undocumented workers would mean that businesses will need to replace those laborers. With historically low unemployment, finding people willing to work for low pay could be difficult, and companies may need to advertise higher wages to attract workers to replace deported laborers.

Job growth will slow
If huge populations of migrants are deported — or at the very least population growth slows as a result of tighter immigration policies — there will be less consumption of goods, which could hurt the labor market.

Lower pay
Even as some people who fill the jobs left by deported laborers could get higher pay than the people they replace, in aggregate, deportations can lower paychecks for US-born workers.

Social safety nets will take a hit
If a large number of unauthorized workers are deported, it would cause funding problems for key federal programs. The American Immigration Council estimated in 2022 that unauthorized immigrants contributed $46.8 billion in federal taxes, with $22.6 billion going to Social Security and $5.7 billion going to Medicare.

Unauthorized immigrants also paid $29.3 billion in state and local taxes.

Absolutely stupid

[LakeVermilion]

1. Unintended Consequences!

Who could know?

[IronLionZion]

2. They'll still blame us somehow

it doesn't have to make sense

[Irish_Dem]

7. The consequences are 100% intended.

A reason to cut federal programs.

[IronLionZion]

11. People at the bottom paying for tax cuts for the wealthy

There's plenty of money to be made during recessions. And the GOP solution will always be tax cuts and cut spending on programs.

[Irish_Dem]

13. 99% will pay for the 1% to get even richer.

[Johnny2X2X]

3. Trump's plan is based on racism

We need immigrants to keep the economy and the country running. We need a system to orderly process people so we can keep the criminals out. Trump shutting down the immigration system is what led the the "crisis" at the border. But it's all part of his plan to Make America White Again.

[haele]

9. Make Americans White Again. Plantation economy.

Between the Billionaire Tech Bros and Capital financiers, I'm seeing a two tiered cast system being set up. The Owners and everyone else.

The rest of us - even the high paid lawyers, marketeers, doctors, and management types - will become "workers" to be bought and sold.
Unskilled or repetitive (manufacturing or agriculture/resource extraction) work to be provided through the prison system or in "company towns", skilled workers from enclaves set aside for them. Perhaps to remove the stigma and placate the bourgeoisie, HUD will set up the company towns and workforce enclaves, with better accomodations as one is allowed more education, recreation, and responsibility in serving the owner caste.

I hope I'm wrong. But I read the same Sci-fi these Tech Bros and Venture Capitalists did, and (with the exception of Ayn Rand's garbage) got the message the authors pretty much intended, unlike those over - privileged jerks.

Haele

[Johnny2X2X]

10. Maybe I am following you down the rabbit hole

But I find it interesting these Tech Bros have been pushing 'Learn a trade" so much lately with AI beginning to take over. Possible they're seeing an elimination of most white collar jobs by AI and people needing to learn a skilled trade to make a living. Would also fit with the farm help jobs being a way for Americans to work soon with most of the white collar jobs going away.

And I am not saying AI is taking over most white collar jobs next year, but perhaps it's inevitable over the next 20 years.

[haele]

12. Over the next 20 - 50 years, they're going to try and shortcut with AI..

But until science and tech can build a bio-computer similar to a crow's brain, let alone a human's brain, there's still some logical jumps and functions AI can't do without having a server farm the size of Alaska. Quantum computers can come closer. But with the current crop of tech bros depending on leveraging other people's prior work to "train" AI to do the job of a real person, well - we aren't going to get AI to be able to copy the paradoxical component in the human brain that inspires inspiration.
Honestly, what the Billionaire types seem to be wanting to do is create a compliant android Alexa to do work while they sit back and play Masters of the Universe.
If they started backing something like, say, Bell Labs or the Skunk Works, or a commercial version of DARPA - idea farms where someone could begin research without a need for profit, then I'd really start being interested in what they did.
Until they do that, they're just leveraging other people's work and pretending to innovate.
They're still going to have to depend on people to get the results they want. Otherwise, it's GIGO.

Haele

[bucolic_frolic]

4. They have leases and car payments too

Withdraw their spending from the economy. It's a reverse multiplier.

[Dogdirt]

5. Mass Deportations

Mass deportations are a crime against humanity. What kind of country, based in human rights for all, would even allow such a thing?

[Freethinker65]

6. The suffering is part of the plan

[Irish_Dem]

8. Yes to bring pain to the American people.

And every one who lives here.

[bdamomma]

14. They

the felon's goons want to crush the economy and the dollar and have cryptocurrency take its place.

But they will steal everything, and make this country garbage just like the felon projected.

Geez, George Carlin was so right, if he was still alive, he would say told you so.

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