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07/24/10 - A Houston CPA Says: Hike Visa Fees To Generate Billions!

From: U.G. Sullivan (e-mail him)

U. S. Representative Joe Wilson was an optimist.

 

Wilson, as you remember, was firmly upbraided for his outburst during one of President Barack Obama's healthcare speeches.  We may soon wish that Obama planned nothing more heinous than simply including illegal immigrants in a public health care option.

 

The reality of Obama's grand design will be much more devastating to the long-term financial viability of our nation.

 

The on-going chatter about "reforming" immigration by granting illegal aliens a "path to citizenship" should be a red-flag to any thinking conservative with a calculator and access to the tax code. 

 

Senator Harry Reid, and his fellow amnesty advocates, are quick to point out that naturalized citizens are subject to the federal income tax, and (by that reasoning) pay their fair share. 

 

Nothing could be further from the truth.

 

Currently, 47 percent of American households pay no federal income tax. In fact, many receive tax "rebates" in excess of what is withheld from their pay.  [47 Percent Will Pay No Federal Income Tax, by Jean Sahadi, CNNMoney.Com, October 3, 2009]

 

Here is how it works.

 

A family with three or more children, and earned income of less than $48,362.00, is entitled to a maximum earned income tax credit of $5,666.00.  That credit creates a negative tax rate making them net recipients of federal income tax dollars. 

 

The "path to citizenship" provides access to all the benefits without incurring any of the financial responsibility. Amnesty will burden taxpayers with providing services to millions of new citizens – services for which the majority of those newly minted Americans will actually be paid to enjoy. [Nearly Half of U.S. Households Escape Fed Income Tax, by Steven Olemacher, Associated Press, April 7, 2010]

 

The immigration status quo puts us on an economic collision course with a tragic destiny. No country can outspend its income by trillions each year and expect to remain solvent. 

 

Amnesty would hasten the pace of our national demise and, once in place, its consequences are irreversible.

Sullivan explains that in his example, he applied the standard deduction and exemptions, then subtracted the EITC. A previous letter from Sullivan offering his "simple solution" to American job loss is here.