Thursday, February 26, 2015

Let The Banana Bucks Flow: Executive Amnesty Could Cost More Than Bush Tax Cuts

Executive amnesty is sold as being limited, but these immigrants will soon have their family members join them in America, sending their children to school on the taxpayer dime and putting relatives on welfare. Later their own children are likely to fall into the welfare system and require taxpayer subsidies until their death. The total amount of money printing that will be required in a nation that is unable to pay its existing bills is staggering. Look at the numbers below, it is not too hard to see taxpayer funding rising above $100,000 per person in some cases. For 5 million people alone, these costs could easily skyrocket to $500 billion, exceeding the level of the Bush tax cuts. OF course, these costs will be split between state, local and federal governments, so the true total will be hidden from the public.

AMNESTY BENEFICIARIES COULD CLAIM MORE THAN $35K IN TAX BENEFITS IN FIRST YEAR
CRS calculated the maximum level of tax credits available to hypothetical families with three and four children. It found that for a family with three children in the four years from 2011-2014 “phase-out threshold amount” would be able to obtain $35,521 in the EITC and CTC.

A family of four in that same four year time frame and circumstance could obtain $35,560.

In those years considered, the “phase-out threshold amount” for both hypothetical families was $21,770 in 2011, $22,300 in 2012, $22,870 in 2013, and $23,260 in 2014.

Both hypothetical families were also able to amass around $9,000 worth of the EITC and CTC annually in the years CRS considered.
The big problem for the U.S. central bank is that it cannot print borrowers. The federal government counts as a borrower though, so skyrocket the deficit and have the Fed monetize the debt, with the proceeds going into the pockets of illegal aliens, first being skimmed by the Washington predator class to line their own pockets.

The economy and stock market will boom, but average Americans will fall further behind as costs rise and "good" real estate becomes more expensive. Quality of life for many lower income Americans will fall.

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