When President Donald Trump said that Mexico was going to pay for his proposed wall along the U.S.-Mexican border he was, per usual, dismissed with laughter and disbelief.
If the Washington Times is to be believed, however, the President has moved Congress to pass a bill that would start to do just that.
On March 30, House Republicans submitted a bill for consideration that would tax at 2 percent the transfer of money from immigrants here in the United States to family and friends in their foreign home countries. Mexicans are by far the largest group of immigrants in the United States and send the most back home
Such a bill, if it becomes law could net up to $2.7 billion a year.
There will undoubtedly be those who wail and gnash their teeth over this perceived ‘racist and xenophobic’ bill. Those doing so should best consider beforehand, that the United States charges the least in transferring money to international destinations, “at about 6 percent of the payment. Canada’s rate is twice that, while the world’s other big economies hover around 8 percent” reports the Times.
Other options for funding the wall are also open to the President. Perhaps a reduction in foreign aid to Mexico equivalent to the total cost of arresting, imprisoning, and eventually deporting every illegal caught during a fiscal year?
Just a suggestion.