10/19/2016
By Charles Payne, CEO & Principal Analyst

"Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.
Send these, the homeless, tempest-tost to me,
I lift my lamp beside the golden door!"

The New Colossus
-Emma Lazarus

One of the topics from the last debate was immigration, which has been a hot-button issue. The focus is mostly on illegal immigration. Still, more and more Americans are fretting over the fact that even legal immigrants are taking jobs natives could perform.  (This situation becomes even thornier when considering the impact of technology and growing thesis that the nation has reached its peak for workers.)  

Of course, America is built on immigration and takes enormous pride in being a successful melting-pot not matched by other nations. Last week, Americans were awarded seven Nobel Prizes, of which six went to people born outside this country.  The same dynamic comes through in the latest Forbes 400 2016 list where forty-two members are immigrants.

Currently, 43.6 million immigrants live in the United States, representing 13.6% of the population. However, new research really underscores the growing impact of immigrants in America.

Nearly, 65 million U.S. residents speak a foreign language at home, up 180% since 1980.  This is a huge development and presents an enormous test for the nation.  Europe’s failings are said to be the inability to assimilate its Muslim and North African migrates and refugees while in America. The history has been more about acculturation.

With acculturation, it sees immigrants maintain customs such as food and certain ceremonies in   families that (eventually) speak primarily in English.

Then there’s the economics of immigration, which has been focused largely on the impact to local taxpayers of illegal immigrants. The fact is that legal immigrants are opening businesses at a faster pace than native-born Americans. And their children are scoring very high academically.

Just as immigrants; Albert Einstein helped us win WWII, and legal immigrants will help win the economic battle of the next century but there will be friction. 

Political Impact

There is data showing that immigrants vote overwhelmingly as Democrats and that might explain the rapid evolution of formerly deep red states into purple and perhaps now blue states. Look at states with the largest percentage increases in foreign-language speakers from 1980 to 2015:

• Nevada (up 1,005%)
• Georgia (up 916%)
• North Carolina (up 729%)
• Virginia (up 460 %)

Immigrants are reshaping America. I think they love being Americans.

Charles Payne
Wall Street Strategies

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