4 ways Trump's mass deportation plans could hurt your finances [View all]

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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