How Fixing the Immigration System Will Help the Economy
Immigration has been a hot topic of debate in the United States for quite some time now—and especially recently—with people on both sides refusing to come to an agreement about what should be done. But there are plenty of great reasons why the immigration system in the country needs to be analyzed closely, changed, and fixed. Doing so would help the immigrants, as well as the citizens and business that are found throughout America.
Did you ever wonder if, and how, the economy would benefit from reforms within the immigration system? If so, continue reading to learn more.
Increasing the Workforce Throughout the Country
If immigrants were allowed to look for work more freely, the overall size of the US workforce would increase. As a result, the economy would also grow. Estimates claim that the workforce could increase by about 150,000 people in the course of a decade if the immigration system is properly reformed sooner rather than later. Many of these workers would also be able to more easily receive EB5 funding to invest in businesses and hire even more employees, thereby bringing down unemployment.
Boosting Productivity
Arizona protesters 2010 photo/Chzz via wikimedia commons
By fixing the immigration system, the entire country should see an increase in productivity across the board. Undocumented workers will finally be able to find jobs that actually match their potential and their current skill set, and this will ultimately lead to a shift as workers move from one occupation to another as they further develop their skills and are able to earn more.
And increases in productivity will also lead to all workers earning higher wages as well. People would be able to make more money and spend more money, as well as save more money, and this would all contribute to a healthier economy that everyone can benefit from.
Increasing Wages
Wondering just how much American workers’ wages would increase if immigration reform took place?
Basically, because of increases in innovation, as well as in productivity, all over the country, both workers who were born as citizens and those who immigrate to the country would find that their annual wages by 2024 would be 0.3% higher than they are now.
That translates to about $170.
Again, this is good news for everyone because it means that they would have more money to live more comfortably, and this means that they would have more money to spend on businesses that keep the economy going strong.
Reducing the Deficit
One of the biggest problems facing the United States today is its deficit, but with the right immigration reform, the US government would be able to borrow less money, spend less on interest, and reduce spending overall. This would shrink the deficit by about $25 billion by 2024, and this would mean that the country would be stronger than it is today.
With the implementation of better laws that help immigrants, and the expertise of lawyers like those at Hirson Immigration, the entire system can be changed for the better in just a few years, and the whole economy of the country would benefit.
Guest Post: Keith Sullivan
New TIME Magazine covers features Illegal Immigration Photo/TIME
