Great benefits to America from having MORE immigrants – 5 key points from the Dallas Fed

April 19, 2014

Did you know?

Interesting fact sheet from the Dallas Branch of the Federal Reserve Bank system.

All material below this point is directly quoted from the .pdf fact sheet; it is here in text format to aid in indexing, and quoting.

Immigration Get the Facts header

An Economic Overview

As U.S. immigration reform moves forward in 2013, a variety of facts and figures continue to be presented around immigrants and their current and potential contributions to the U.S. economy. This fact sheet—the first in our series on immigrants and the economy—provides key data points on why immigrants are vital to the U.S. economy and why comprehensive immigration reform is necessary for future U.S. competitiveness.

Five Reasons
Why the U.S. Economy Needs Immigrants
FACTS

1.  Immigrants are more likely to be entrepreneurial and to start new businesses, which, in turn, create jobs for U.S.-born workers.

  • Immigrants started 28 percent of all new U.S. businesses in 2011, employing 1 in 10 U.S. workers. 1
  • Immigrants represent 18 percent of small business owners in the U.S.—exceeding their share of the overall population (13 percent)—and are more likely than those born in the U.S. to start a small business. Immigrant-owned small businesses employed an estimated 4.7 million people and generated an estimated $776 billion in receipts in 2007. More small business owners are from Mexico than any other country.2
  • Over the past two decades, immigrants made up 30 percent of the growth in small business creation.3
  • Immigrants founded 18 percent of 2010 Fortune 500 companies, creating jobs for 3.6 million people. When including immigrants and their children, the number of Fortune 500 companies with immigrant roots jumps to 40 percent, employing more than 10 million people.4

2.  Both high-skilled and low-skilled immigrant labor creates additional jobs across the U.S. economy.  Immigration FRSB Population box

  • With immigration reform, newly authorized immigrant workers would produce enough new consumer spending to support 750,000 to 900,000 jobs.5
  • Every additional foreign-born student who graduates in science, technology, engineering, or mathematics (STEM) and remains in the U.S. creates an estimated 2.62 American jobs.
  • Every low-skilled, non-agricultural, temporary worker who comes to the U.S. to fill a job that may otherwise be left open creates an average of 4.64 U.S. jobs. 6  These low-skilled jobs are the necessary backbone to support higher-skilled positions.
  • Passage of the DREAM Act would add $329 billion to the U.S. economy and create 1.4 million new jobs by 2030.7

3.  Immigrants boost tax revenue, enlarge the taxpayer base and help to keep down the price of goods.  Immigration FRSB DYK box1

  • On average, immigrants, including the undocumented, pay nearly $1,800 more in taxes than they receive in benefits.8
  • Households headed by undocumented immigrants paid $11.2 billion in state and local taxes in 2010. That included $1.2 billion in personal income taxes, $1.6 billion in property taxes and $8.4 billion in sales taxes.9
  • Immigrants lower the price of products used by highly educated consumers by 0.4 percent of GDP and for less-educated consumers by 0.3 percent.10

4.  As baby boomers retire, immigrants will increasingly be critical for continued economic growth and for ensuring a steady flow of new workers.  Immigration FRSB DYK box2

  • Without immigrants, the U.S. will not have enough new workers to support retirees. Seventy years ago, there were 150 workers for every 20 seniors; 10 years ago, there were 100 workers per 20 seniors.  By 2050, there will be only 56 workers for every 20 seniors. The U.S. needs new taxpayers to help fund Social Security and Medicare and new workers to fill retirees’ positions and provide health care services.11
  • Current levels of immigration will temper the aging of the U.S. population over the next two decades, slowing the increase in the old-age dependency ratio by more than one-quarter.12
  • Nearly 65 percent of Latino immigrants in California who stayed more than 30 years are homeowners, making them a critical pool to buy homes as baby boomers downsize.13

5.  The majority of immigrants in the U.S. today are from Latin America, representing a huge potential economic opportunity due to the region’s burgeoning economic standing.

  • Immigrants are a vital link with their home countries and offer new prospects for the U.S. to capitalize on Latin America’s economic expansion, which saw 3 percent growth in 2012—double the 1.5 percent growth in the United States. In addition, 11 of the 20 U.S. free-trade agreements in force are with Latin American countries. Immigrant-owned small businesses have a unique opportunity to connect to the global marketplace.
  • Over 7 percent of immigrant firms export their goods and services, whereas just over 4 percent of non-immigrant firms export.14
  • Mexico boasts the second largest economy in Latin America and grew at a rate of 4.0 percent in 2012, with a projected 3.5 percent growth in 2013.15  With 29 percent of all immigrants and 58 percent of undocumented immigrants coming from Mexico,16 this demographic represents a human gateway to one of Latin America’s fastest-growing economies.

This fact sheet is a product of the AS/COA Hispanic Integration and Immigration Initiative, which advances the integration of immigrants and promotes positive dialogue around the economic contributions of immigrants and Latinos overall across the United States. It was produced by Jason Marczak, AS/COA Director of Policy, in collaboration with Leani García. For more information, visit AS/COA Online at:  http://www.as-coa.org.  For media inquiries or to speak with an expert on this topic, please contact Adriana LaRotta in our communications office at:   alarotta@as-coa.org

Population:  The 40 million immigrants in the U.S. today—of which 29 percent are from Mexico— represent 13 percent of the U.S. population.

In addition, the 53 million Latinos in the U.S. account for about 17 percent of the population and 10 percent of voters in the 2012 election.

However, the demographics of new immigrants have changed in recent years, with Asians having overtaken Latinos as the largest group of new immigrants.

Did you know?
Google, Procter & Gamble, Kraft, Colgate Palmolive, Pfizer, and eBay are among companies with immigrant founders.

Did you know?
Hispanic immigrants help revitalize communities across the U.S., including Ottumwa, Iowa, a 30,000-person city southeast of Des Moines, which, according to The Wall Street Journal, saw its taxable property value double in the last 10 years after making a concerted push to bring in new immigrants who opened up shops to replace shuttered storefronts.

Endnotes

1.  Robert H. Fairlie, “Open for Business: How Immigrants are Driving Small Business Creation in the United States,” Partnership for a New American Economy, August 2011. http://www.renewoureconomy.org/sites/all/themes/pnae/openforbusiness.pdf

2.  Fiscal Policy Institute, “Immigrant Small Business Owners: A Significant and Growing Part of the Economy,” June 2012. http://fiscalpolicy.org/immigrant-small-business-owners-FPI-20120614.pdf

3.  Ibid.

4.  Partnership for a New American Economy, “The ‘New American’ Fortune 500,” June 2011.  http://www.renewoureconomy.org/sites/all/themes/pnae/img/new-american-fortune-500-june-2011.pdf

5.  Raúl Hinojosa-Ojeda, “Raising the Floor for American Workers: The Economic Benefits of Comprehensive Immigration Reform,” Center for American Progress, January 2010.

6.  Madeline Zavodny, “Immigration and American Jobs,” American Enterprise Institute for Public Policy Research and the Partnership for a New American Economy, December 2011. http://www.renewoureconomy.org/sites/all/themes/pnae/img/NAE_Im-AmerJobs.pdf

7.  Juan Carlos Guzmán and Raúl C. Jara, “The Economic Benefits of Passing the Dream Act,” Center for American Progress and Partnership for a New American Economy, October 2012.  http://www.americanprogress.org/issues/immigration/report/2012/09/30/39567/the-economic-benefits-of-passing-the-dream-act/

8.  James P. Smith & Barry Edmonston, eds., The New Americans: Economic, Demographic, and Fiscal Effects of Immigration (Washington, DC: National Research Council, National Academy of Sciences Press, 1997), 220, 353.

9.  Immigration Policy Center, “Unauthorized Immigrants Pay Taxes, Too,” April 2011.  http://www.immigrationpolicy.org/just-facts/unauthorized-immigrants-pay-taxes-too

10.  Patricia Cortes, “The Effect of Low-Skilled Immigration on US Prices: Evidence from CPI Data,” 381-422.

11.  Immigration Policy Center, “The Future of a Generation: How New Americans Will Help Suppport Retiring Baby Boomers,” February 2012. http://www.immigrationpolicy.org/just-facts/future-generation-how-new-americans-will-help-support-retiring-baby-boomers

12.  Ibid.

13.  Dowell Myers, Immigrants and Boomers: Forging a New Social Contract for America (New York: Russell Sage Foundation, 2007).

14.  Robert H. Fairlie, “Immigrant Entrepreneurs and Small Business Owners, and their Access to Financial Capital,” Small Business Administration, May 2012.

15.  The World Bank, “Mexico Overview,” 2013. http://www.worldbank.org/en/country/mexico/overview

16.  Pew Hispanic Center, “A Nation of Immigrants: A Portrait of the 40 Million, Including 11 Million Unauthorized,” January 2013. http://www.pewhispanic.org/files/2013/01/statistical_portrait_final_jan_29.pdf

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Historian David McCullough: What is the value of education?

April 17, 2014

Branch banks of the Federal Reserve work hard to provide economic education; alas, in the era of state standards requiring “teach to the test,” a lot of this stuff goes unused.

What is the value of education?  The Dallas Branch of the Fed had historian David McCullough in for consultations; they asked him on video, and here’s his response.

“We must be an educated people. We cannot be a productive, original, innovative society if we aren’t educated.”

For more information, visit the Dallas Fed’s website.

6,645


Daytime Moon and jet

April 17, 2014

Passenger jet and Moon.  Photo by Rodger Schmitt, from Lake Powell, Utah.

Passenger jet and Moon. Photo by Rodger Schmitt, from Lake Powell, Utah.

Handheld Nikon.  Nikon stabilizing lens.  Good hands, I’d say.

Third to last time I was out near Lake Powell, I was with Rodger (and about a dozen others) organizing hearings of the President’s Commission on Americans Outdoors.  We flew into Page, Arizona, on an Otter II coming up from Phoenix flying low, looking for elk, and legally buzzing Rainbow Bridge (impressive from the air, too).

We had a luncheon meeting at Wahweap Marina, as I recall; no time for boating.

Then we were off to the South Rim of the Grand Canyon.  There we inspected pine trees 30 feet tall, growing between the ties of the then-abandoned rail lines.  (And did a lot of other stuff.)

Today trains carry tourists to the South Rim on those tracks, the trees gone.  Progress, really.

Rodger carries on in the knowledge that use of the outdoors, especially these public lands, heals souls, and sometimes gives you great photos.

Rodger said I could borrow the photo.  Thanks!


Remembering the worst ever U.S. industrial accident, 1947: 576 dead at Texas City

April 16, 2014

April 16 marks the 67th anniversary of the Texas City Disaster.

It’s a day Texans, and all Americans should note.  It’s an event we need to remember, because every point of the disaster is something we forget at our very great peril.  Thinking such a disaster could not happen again, and failing to train for these same conditions, contributed to the disaster last year in West, Texas.

67 years ago, in the harbor at Texas City, a large cargo ship being loaded with tons of ammonium nitrate caught fire and exploded, setting fire to other nearby ships, one of which exploded, devastating much of the town. In all, 576 people died in Texas City on April 16 and 17, 1947.

View of Texas City from across the bay, in Galveston, April 16, 1947

View of Texas City from Galveston, across the bay, after the explosion of the French ship SS Grandchamp, April 16, 1947. Photo from International Association of Fire Fighters Local 1259

The incident also produced one of the most famous tort cases in U.S. history, Dalehite vs. United States, 346 U.S. 15 (1953). (Here is the Findlaw version, subscription may be required.)

The entire Texas City fire department was wiped out, 28 firefighters in all. The International Association of Fire Fighters, Local 1259 has a website dedicated to the history of the disaster, with a collection of some powerful photographs.

More below the fold. Read the rest of this entry »


Typewriter of the moment: Thomas Merton

April 16, 2014

Thomas Merton's typewriter, at Bellarmine University

Thomas Merton’s typewriter, at Bellarmine University; image from Spiritual Travels blog. Photo by Lori Erickson

One of Thomas Merton’s typewriters sits on display at the Thomas Merton Center at Bellarmine University, in Louisville, Kentucky.

Who? You remember, the guy who wrote The Seven Storey Mountain.

Thomas Merton, O.C.S.O. (January 31, 1915 – December 10, 1968) was an American Catholic writer and mystic. A Trappist monk of the Abbey of Gethsemani, Kentucky, he was a poet, social activist, and student of comparative religion. In 1949, he was ordained to the priesthood and given the name Father Louis.[1][2][3]

Merton wrote more than 70 books, mostly on spirituality, social justice and a quiet pacifism, as well as scores of essays and reviews, including his best-selling autobiography, The Seven Storey Mountain (1948), which sent scores of World War II veterans, students, and even teenagers flocking to monasteries across the US,[4][5] and was also featured in National Reviews list of the 100 best non-fiction books of the century.[6] Merton was a keen proponent of interfaith understanding. He pioneered dialogue with prominent Asian spiritual figures, including the Dalai Lama, the Japanese writer D.T. Suzuki, and the Vietnamese monk Thich Nhat Hanh. Merton has also been the subject of several biographies.

It’s a French typewriter, by Royal, with French characters available for use.

Closeup of Thomas Merton's Royal Typewriter; The Thomas Merton Center

Closeup of Thomas Merton’s Royal typewriter, showing some of the special characters available for French; The Thomas Merton Center

 

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Another typewriter displayed by the Thomas Merton Center. One of Merton's?

Another typewriter displayed by the Thomas Merton Center. One of Merton’s?


Cross seas: Nature, or design?

April 16, 2014

Here’s just exactly the sort of thing that happens in nature that drives creationists nuts.  How could this happen without God personally working to confuse and/or delight the photographer?  Not to mention the physicist and mathematician.

Photo from the Twitter feed of Science Porn:

Photo from the Twitter feed of Science Porn: “Go home waves you’re drunk. This is called cross sea btw pic.twitter.com/5Cv1UUo8QX”

Where? Somewhere in France, one might gather from the flag on the structure (lighthouse?).

Turns out to be a Wikipedia photo, with this intriguing caption:

Crossing swells, consisting of near-cnoidal wave trains. Photo taken from Phares des Baleines (Whale Lighthouse) at the western point of Île de Ré (Isle of Rhé), France, in the Atlantic Ocean. The interaction of such near-solitons in shallow water may be modeled through the Kadomtsev–Petviashvili equation.

Oh, you remember that one, don’t you?  The Kadomtsev–Petviashvili equation?

At least we confirmed it was taken in France.

They do everything differently in France, don’t they?

Update:Got an e-mail suggestion that I include the equation itself.  You may certainly click to Wikipedia to find it; here’s what it says over there:

In mathematics and physics, the Kadomtsev–Petviashvili equation – or KP equation, named after Boris Borisovich Kadomtsev and Vladimir Iosifovich Petviashvili – is a partial differential equation to describe nonlinearwave motion. The KP equation is usually written as:

\displaystyle \partial_x(\partial_t u+u \partial_x u+\epsilon^2\partial_{xxx}u)+\lambda\partial_{yy}u=0

where \lambda=\pm 1. The above form shows that the KP equation is a generalization to two spatial dimensions, x and y, of the one-dimensional Korteweg–de Vries (KdV) equation. To be physically meaningful, the wave propagation direction has to be not-too-far from the x direction, i.e. with only slow variations of solutions in the y direction.

Like the KdV equation, the KP equation is completely integrable. It can also be solved using the inverse scattering transform much like the nonlinear Schrödinger equation.

Certainly the longest equation ever published at Millard Fillmore’s Bathtub.


Anniversary of Paul Revere’s ride, in the middle of National Poetry Month 2014

April 16, 2014

This is mostly an encore post.  Is there a good reason Paul Revere made his ride in the middle of National Poetry Month

Teachers, I’m posting this a couple of days early.  You may want to get copies of the poems for your U.S. history and literature classes. 

You may want to note that the Boston Marathon is traditionally run on Freedom Day in Massachusetts — the day that commemorates the ride of the patriots’ warning that Gen. Gage’s army was on the move, and of the battles at Lexington and Concord, the next day. 

_____________

April 18 and 19. Do the dates have significance? Paul Revere's ride, from Paul Revere House

Among other things, April 19 is the date of the firing of the “shot heard ’round the world,” the first shots in the American Revolution. On April 19, 1775, American Minutemen stood to protect arsenals they had created at Lexington and Concord, Massachusetts, against seizure by the British Army then occupying Boston.

April is National Poetry Month. What have we done to celebrate poetry?

What have we done to properly acknowledge the key events of April 18 and 19, 1775? Happily, poetry helps us out in history studies. Or it can do.

In contrast to my childhood, when we as students had poems to memorize weekly throughout our curriculum, modern students too often come to my classes seeming wholly unaware that rhyming and rhythm are used for anything other than celebrating materialist, establishment values obtained sub rosa. Poetry, to them, is mostly rhythm, certainly not for polite company, and never for learning.

Poetry has  slipped from our national curriculum, dropped away from our national consciousness.  No national test adequately covers poetry, not in English, not in social studies — certainly not in math or science.

That is one small part of the reason that Aprils in the past two decades turned instead to memorials to violence, and fear that violence will break out again. We have allowed darker ideas to dominate April, and especially the days around April 19.

You and I have failed to properly commemorate the good, I fear. We have a duty to pass along these cultural icons, as touchstones to understanding America.

So, reclaim the high ground. Reclaim the high cultural ground.

Read a poem today. Plan to be sure to have the commemorative reading of “Paul Revere’s Ride” in your classes on April 18 or 19, and “The Concord Hymn” on April 19.

We must work to be sure our heritage of freedom is remembered, lest we condemn our students, our children and grandchildren to having to relearn these lessons of history, as Santayana warned.

Texts of the poems are below the fold, though you may be much better off to use the links and see those sites, the Paul Revere House, and the Minuteman National Historical Park.

Read the rest of this entry »


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