Democrats have been avoiding the truth for months now, and they are doing everything they can to stop Americans from hearing it. But now all of that is about to change.
Because Democrats have been hit with a massive immigration report blow.
The International Monetary Fund’s (IMF) managing director, Kristalina Georgieva, claimed that “abundant labor coming across the border” is lowering the pay given to American workers.
The Bulgarian-born Georgieva told the media during the IMF’s spring meeting, which was hosted alongside its sister agency, the World Bank, that not everyone who crosses borders adds positively to the economy.
She said, “But that labor supply also gave to the United States [overall economy an] advantage: Wages are not pushing up, because there is no strong pressure because of lack of labor.”
According to The Wall Street Journal, the average hourly wage has grown by 4.1 percent annually, excluding inflation, in March 2024, compared to 5.9 percent on March 22, the day of the coronavirus crisis.
But after inflation is taken into account, incomes in President Joe Biden’s migration-inflated economy have either stagnated or decreased, particularly for the large number of young Americans who are having to pay higher rent.
Inflation is also fueled by migration, primarily through housing price increases in the wake of Biden’s welcome for at least two million legal immigrants and over seven million migrants from the South.
Speaking at the meeting, Georgieva stated, “Inflation is down but not gone.”
Even while American wages are stagnant or declining, cheap labor benefits companies, investors, government tax collectors, and bankers by increasing the number of revenue-generating workers, customers, and taxes.
In this way, migration increases Wall Street values, the size of government, and the broader economy even while American wages decline.
Georgieva acknowledged that the discrepancy “creates a domestic political problem.”
In fact, numerous surveys indicate that the majority of Americans disagree with Biden’s low-wage, high-migration “Bidenomics” economic plan.
Even worse, the influx of low-cost labor also slows down productivity growth, which is necessary to increase middle-class prosperity.
Migration enables businesses to profit from low-productivity jobs that require a lot of workers, like manufacturing, or jobs with restrictions.
The influx of low-cost labor also lessens the incentive for businesses to invest in venture capital projects or purchase machinery that increases production.
Alternatively, they can make money by employing their subsidized labor to run outdated equipment that would otherwise be sold to businesses in underdeveloped nations.
China, on the other hand, is strongly against immigration and massively investing in high-tech factories that raise wages.
By making local and federal taxpayers foot the bill for the welfare and housing expenditures that keep migrant labor out of poverty, Democrats encourage businesses to profit from migration.
Bloomberg covered the financial challenges faced by Ukrainian parole migrants who are unable to obtain city-paid housing in April.
“I couldn’t stretch my pay, not just for an apartment but even for a room,” said Marina Kostenko, a former teacher from Odesa who moved to New York in 2022.
“The 52-year-old said she offered child-care services in exchange for housing, an arrangement that fell through on three different occasions, each time leaving her without a place to live.”
The Left has crippled this country in more ways than one and we cannot allow it to continue.
Stay tuned to the Conservative Column.
