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Just how big of an impact do remittances have on Mexico? Glad you asked....
Posted on 6/10/25 at 8:29 am
Posted on 6/10/25 at 8:29 am
quote:
CONTEXT for Los Angeles Riots: Approximately 12.3 million Mexicans live abroad, both legally and illegally, with 97% of them living and working in the United States, according to BBVA Research. Last year Mexicans living abroad sent $64.75 billion back home in remittances, largely from Texas and California to states in central and western Mexico.
According to data recently released, in April of this year remittances back to Mexico dropped 12.1%. The Mexico central bank said April saw 8.1% fewer transactions than a year earlier, that’s down to 12.4 million transactions. For Mexico this is a devastating outcome.
How dependent is the Mexican Govt on these remittances? Remittances sent home by Mexicans working outside the country surpassed petroleum revenues in 2015. {link} Oil Revenue in 2015 was 23.4 billion; remittances were $24.8 billion. Last year in 2024 remittances were $64.75 billion…. and in April of this year the remittances dropped by 12.1%.
If you don’t think there is a critical financial motive in this, think again.
LINK
This post was edited on 6/10/25 at 8:30 am
13
Posted on 6/10/25 at 8:31 am to lake chuck fan
Just over a 12% drop?
Those are rookie numbers, gotta pump that up substantially and make them bleed!
Those are rookie numbers, gotta pump that up substantially and make them bleed!
Posted on 6/10/25 at 8:36 am to lake chuck fan
Facts don't lie. Good post.
Posted on 6/10/25 at 8:39 am to lake chuck fan
quote:The US DOD wipes its arse with that amount.
Last year in 2024 remittances were $64.75 billion
Yet, La Mexico Presidente' was threatening to "mobilize" over this amount?
Posted on 6/10/25 at 8:40 am to lake chuck fan
I knew it was significant, but I didn't think it was above oil numbers. On another note, let's deport some more and get that number even lower. Maybe add a nice tax on those numbers...
Posted on 6/10/25 at 8:42 am to Mahootney
quote:
The US DOD wipes its arse with that amount.
Yet, La Mexico Presidente' was threatening to "mobilize" over this amount?
Imagine the boost in Mexico's GDP if they taxed fentanyl, meth, and cocaine exports!!!
Posted on 6/10/25 at 8:43 am to lake chuck fan
Mexico has a vested interest in allowing their citizens to get into the USA and send back money to their family, so they can spend it. It is a big chunk of their economy.
Posted on 6/10/25 at 8:47 am to Ozarkshillbilly
quote:
Maybe add a nice tax on those numbers...
You left out the trigger term:tariffs on remittances. LOL heads would explode if Trump places a tariff on them.
Posted on 6/10/25 at 8:48 am to TurkeyBaconLeg
quote:
Mexico has a vested interest in allowing their citizens to get into the USA and send back money to their family, so they can spend it. It is a big chunk of their economy.
That's why the remittance tax needs to be higher....make them drive to the border to bring the money back home.....and stop the illegal's there....
easiest way to lower illigals is to hit them in the pocket book. target banks....require federal tax ID to us a bank, ever just cashing a check.
Posted on 6/10/25 at 8:49 am to lake chuck fan
Mexico is not our friend, in fact, it should be added to Trumps travel ban.
Posted on 6/10/25 at 8:51 am to Bob Sacamano
quote:
Bob sacamano
Posted on 6/10/25 at 9:05 am to lake chuck fan
quote:Thank you for posting this.
lake chuck fan
Posted on 6/10/25 at 9:11 am to Mahootney
Texas has a GDP that’s 1.5x mexicos
Mexico is a 3rd world hell hole ruled by criminal gangs that would make African warlords blush
What they have accomplished is truly impressive. Mostly homogenous population, fantastic geography (good weather, fertile soil, no foreign threats), and directly next to the worlds hegemony as their prime trading partner
And somehow, they still managed to create a society that is broken
Mexico is a 3rd world hell hole ruled by criminal gangs that would make African warlords blush
What they have accomplished is truly impressive. Mostly homogenous population, fantastic geography (good weather, fertile soil, no foreign threats), and directly next to the worlds hegemony as their prime trading partner
And somehow, they still managed to create a society that is broken
Posted on 6/10/25 at 9:49 am to lake chuck fan
Travel ban and 50 percent tax on remittance will bring Mexico to its knees
Posted on 6/10/25 at 11:39 am to lake chuck fan
every dollar going back should be taxed at the same rates that us non illegal hombres are taxed on the dollars we earn.
Posted on 6/10/25 at 11:51 am to lake chuck fan
We play too nice in these scenarios, we should put a 75% tax on all money leaving the country period. That would slow down money sent out immediately they would be forced to spend it here so they would actually have a sliver of money in the game now.
Posted on 6/10/25 at 11:53 am to lake chuck fan
Mexico, and other countries, should get more criticism for having shitty countries that their citizens want to flee.
They should all be embarrassed that U.S. remittances make up such a large portion of their economy.
Their economic plan is, basically, be so shitty that your citizens leave and send money back home.
Mexico was founded less than 50 years after the United States, yet is a failure of a country. Why?
They should all be embarrassed that U.S. remittances make up such a large portion of their economy.
Their economic plan is, basically, be so shitty that your citizens leave and send money back home.
Mexico was founded less than 50 years after the United States, yet is a failure of a country. Why?
Posted on 6/10/25 at 11:56 am to TechBullDawg
quote:
Travel ban and 50 percent tax on remittance will bring Mexico to its knees
No sir. Freeze remittances.
If you are gonna swing, swing big.
Posted on 6/10/25 at 12:07 pm to Screaming Viking
12.3 million Mexicans living abroad is a complete joke. Probably more like between 50-100 million.
Posted on 6/10/25 at 12:24 pm to lake chuck fan
Does the Mexican government tax remittances when they are processed in Mexico? I don't think I've seen that addressed anywhere.
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