“Immigration supplies workers, which increases GDP [gross domestic product] and has helped the United States avoid the fate of stagnant economies created by purely demographic forces – in particular, an aging (and, in the case of Japan, a shrinking) workforce.”
“The contribution of immigrants to human and physical capital formation, entrepreneurship, and innovation are essential to long-run sustained economic growth.”
To give an idea of how large the benefit of immigrant entrepreneurship likely is in America, note that a recent National Foundation for American Policy study of just 87 startup companies valued at $1 billion or more found 44 (more than half) had at least one immigrant founder.
Moreover, at $168 billion, the collective value of just these 44 immigrant-founded companies was almost half the value of the stock markets of Russia and Mexico.
“Immigrant business owners generated $67 billion of the $577 billion in U.S. business income in 2000...They generate nearly one-quarter of all business income in California – nearly $20 billion – and nearly one-fifth of business income in New York, Florida, and New Jersey.”
In short, the prospects for long run economic growth in the United States would be considerably dimmed without the contributions of high-skilled immigrants.
I don't want to reduce the positive impacts of immigration to just $$$ -what I'm saying is the xenophobia and racism Trump voters display isn't just sad, pathetic and un-American - it hurts the future of the country immeasurably.
Footnote for anyone arguing, "We should only let in skilled laborers." My great-grandfather was not skilled when he crossed the Atlantic. Grandpa was a pants salesman, dad a Navy vet and a commercial pilot. I work in TV. Low skilled workers are an investment in the future.
(Not that working in TV is necessarily the loftiest of end goals for everyone, but I'm blessed to make a living doing what I love and I owe that privilege to my elders who paved the way.)
You can follow @mileskahn.
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