To Fix the U.S. Economy, Fix Immigration – Bloomberg 01-29-13

Salient to Investors:

Ezra Klein writes:

  • The most important piece of economic policy in 2013 is immigration reform.
  • A tenth of the US population is foreign-born. Over 25% of US technology and engineering businesses started from 1995 to 2005 had a foreign-born owner, while half of all tech startups in Silicon Alley had a foreign-born founder. Immigrants start businesses and file patents at a much higher rate than native-born Americans.
  • Immigrants lift wages.
  • Everyone agrees that aging economies with low birth rates are in trouble, e.g Japan. The ratio of working Americans to retirees will drop from 5-to-1 today to 3-to-1 in 2050.
  • In the global draft for talent, the US almost always gets the first-round picks.
  • The Congressional Budget Office found that legalizing undocumented immigrants would increase federal revenue by $48 billion while costing only $23 billion in increased public services.

Read the full article at http://www.bloomberg.com/news/2013-01-29/to-fix-the-u-s-economy-fix-immigration.html

 

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