The tech sector is reeling from Trump’s immigrant ban
Trump’s image is taking a hit. Firstly, the mishandling of the coronavirus pandemic, the resulting stock market spiraling, the global outrage over his response to the Black Lives Matter movement, and more. The election is only months away.
In a desperate bid to curry favor with his electorate, Trump announced a “temporary” ban on issuing immigrant visas on Monday. The measure was supposed to protect the nation against the spread of the coronavirus. Yet the President has on previous occasions called immigrants “animals” and “invaders.”
Historically, immigration is helpful to the economy. The ACLU explains:
A 1994 study of unemployment and immigration by Richard Vedder and Lowell Galloway of Ohio University spanning 100 years (from 1891 to 1991) found that higher rates of foreign-born population historically have corresponded to lower unemployment rates. The study found that immigrants expand total output and the demand for labor, tend to be highly productive and promote capital formation through high savings rates.
America is a nation of immigrants. Immigrants built the country, and the economy still depends heavily on the innovation, skilled labor, and tax revenue brought in by migrants.
Study after study has proven that immigration contributes to — not confiscates from — the economy. American immigrants or their families founded almost half of the top Fortune 500 companies.
Donald Trump is the son and grandson of immigrants. He married two immigrants.
Before he points fingers over the wrecked economy at his feet, perhaps he should look in a mirror?