There are an estimated 11 to 12 million undocumented immigrants in the United States as of 2021. This estimate has remained relatively constant throughout the last few decades. In the billionaire’s news media there is always a political issue of what to do with these people. The Democrats under newly elected President Joe Biden want to push through immigration reform, which means providing a road to citizenship for the undocumented. No penalties will exist for those who enter the United States illegally after legalization is granted. Biden’s basic plan, then, is to encourage more undocumented immigrants to enter the United States after legalization is granted. But this is a ploy that will ensure the president will not be able to fulfill his pledge on this issue.
The billionaires who control both major political parties are against legalization. This is why Biden has instructed Democratic party senators to keep the filibuster, meaning that it will take sixty votes in the senate to pass Biden’s immigration plan. That is not likely to occur with Republican Party opposition. Biden has already sent his stimulus package scurrying through the senate using something called a procedural vote. Notice he refuses the do the same thing with immigration reform, as well as raising the federal minimum wage to $15 an hour, and other promises he made to the Democratic Party grassroots voters. There is a reason for this. It is called profits.
Roughly 73 percent of all immigrants detained by the government are sent to private prisons. This is a $4 billion a year industry. CoreCivic (CXW) and Geo Group (GEO) are the two largest private prison corporations. CoreCivic’s share price was $41 in 2015, but dropped to $7.19 as of February 20, 2020. Likewise, Geo Group’s share price plummeted under President Trump from $32 in April 2017 to $7.30 on February 20th. Lobbyists for these and other corporations that benefit from the apprehension of undocumented immigrants are battling tooth and nail to ensure the filibuster is not shoved to the side on immigration reform. Campaign money has been given to the president to ensure a rising tide of undocumented workers cross the border, while stifling immigration reform, all of which should push share prices higher.
Immigration reform would hurt the profits of a number of corporations and private businesses in food service, technology, ground transportation, air transportation, “bail bond companies, health care companies, food service groups, money transfer services and more” are “working in tandem with for-profit prisons and ultimately, the U.S. government, to help run the multibillion dollar business of immigration enforcement.” This is big business!
So don’t expect immigration reform. Don’t expect an increase in the federal minimum wage. The billionaires who control both major political parties are saying no to both, and President Biden must obey. Enacting either piece of legislation would reduce corporate profits, share prices and dividends, which would lessen to a small degree income and wealth inequality. Biden’s job is to ensure that does not happen.
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