Enact A Tax On Foreign Remittances

Economy
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It is a common theme that many migrants, particularly illegal immigrants, collect money from the US, and then send that money to other countries. Drug cartels, terrorists organizations, and countries who are known to be state sponsors of terrorism and drug trafficking, use this as a way to fund operations while flying “under the radar”.

Enacting a tax on remittances would be a positive step for two reasons. The first being this will help to crack down on funding of illegal organizations, money laundering, and US money going to countries which oppose us, helping to strengthen world and national security. The second being that it would help raise a significant amount of revenue for the US, which can go towards projects such as improved infrastructure or military/defense funding. A tax on remittances will help, thusly, to make America wealthier, as well as more safe.

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Mentioned this on another similar post, but completely agree. However, this doesn’t go far enough, nor does it target the most egregious offenders. In the high-skilled labor market, particularly where the majority of positions are filled by H1B holders, its not uncommon to see over 50% of a paycheck sent back to their home countries (mostly India and China), where the dollar will get them 10x the value. They are benefitting from asymmetric prices, which is extracting value from the US and expending it in countries that are ostensibly competitors of ours. We either need to completely slash/ban this practice or end the H1B program indefinitely or else we risk outsourcing all our critical infrastructure to India and China.

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