Republican Senator Mitt Romney wants to reduce inflation by cutting Americans’ wages, including wages earned by the GOP’s own voters.
Sen. Romney (R-UT) urged cuts in a Nov. 10 the wall street journal editorial, where he echoed Goldman Sachs’ May call for more migration to reduce inflation by cutting wages:
Voter exit polls have confirmed that inflation remains a top voter concern. Medium-term campaigns have largely focused on assigning blame for rising prices. Now… Congress Can Really Help By Increasing Legal Immigration [and] increase the number of work visas in sectors facing labor shortages.
In May, Goldman Sachs argued that President Donald Trump’s 2020 migration cuts ensured that “the substantial gap between the number of workers and the number of jobs…led to wage growth of 5 1/2 % in the last year”.
“We felt that the [worker] the gap should close by around 2.5 million [extra migrants] to bring wage growth back into the 4 to 4½ percent range,” or about $100 billion less, Goldman Sachs said.
Romney worked alongside Goldman Sachs in the financial industry for many years before being elected governor of Massachusetts and losing the 2012 presidential election.
“He is completely out of touch, as out of touch as all the elite Democrats in Hollywood,” responded Rosemary Jenks, government relations officer. director of NumbersUSA. She told Breitbart News:
[Landslide Gov.] Ron DeSantis has very strong positions on immigration. [Newly elected] JD Vance… [and] Ted Budd has strong positions on immigration. There is no evidence anywhere that taking the right stance on immigration harms [candidate] …
A YouGov poll in February asked 1,500 citizens: “Do you think the following measures to reduce inflation are a good or a bad idea?” …. Increase immigration to reduce labor shortages? »
Only 27% of registered voters agreed that importing workers to reduce inflation was a good idea, including 45% of President Joe Biden’s 2020 voters. Fifty percent of registered voters said it was a ” bad idea,” including 83% of President Donald Trump’s 2020 voters. Since February, Americans’ wages have fallen further, amid Biden’s cheap labor migration and rising unemployment. inflation.
Romney’s support for more visas also threatens to stall accelerated automation of specialty crops, such as apples and strawberries.
Romney did not mention the massive wave of illegal migration that was prompted by President Joe Biden’s Borders Chief, Alejandro Mayorkas.
Romney was one of six GOP senators who voted to confirm Mayorkas, who has since delivered an estimated 3 million blue-collar and white-collar illegals into the US housing and labor markets. The additional influx comes on top of the regular annual influx of about 1 million legal immigrants and about 500,000 visas.
The wave of illegal migrants from Mayorkas has helped reduce inflation because it reduces the ability of Americans to negotiate living wages with their employers and investors.
But the migration of Mayorkas has also increased inflation by driving up the price of homes, rents, used cars and a myriad of retail items.
Romney’s editorial also said, “We need new legal immigrants – at least a million a year to keep the population from declining.”
“The population continues to grow – where does he want to put all these [extra] people?” Jenks replied
The influx of migrants is also driving up government spending by pushing more Americans to the economic sidelines and into welfare and assistance programs. Yet Romney complained that increased government spending is fueling inflation:
Rather, it is automatic “non-discretionary” spending on entitlements, such as Medicare, Social Security, and Medicaid, and on debt service. It is this spending that is growing faster than the economy… Excessive spending not only adds to the national debt, it is highly stimulative and inflationary.
Romney’s understanding of the economics of immigration “is embarrassing for him, but it’s tragic for the rest of us,” Jenks added.
Since Trump’s immigration has been holding back wage growth for ordinary Americans, immigration reforms have been a key demand from the GOP rank and file.
CNN’s 2022 midterm exit polls show that immigration was the top issue for one in seven Republican voters. Immigration was considered more important than crime, abortion or gun rights, and ranked second only to inflation. Immigration tied with abortions as the second most important issue in a Fox News poll of more than 100,000 people that was conducted from October 31 to November 8.
Romney’s op-ed included an interesting anecdote about immigration policy within the Democratic Party:
I asked a leading Democrat why his party hadn’t acted to secure the border, especially since his failure to do so gives my party a huge advantage in swing states like Arizona and Nevada. His response: “You don’t understand the power of the immigration lobby.
This lobby encouraged hundreds of thousands of migrants to take their children to the Panamanian jungle, where thousands of migrants died:
Hamleisy and Hamleisky Ortega, from Venezuela, traveling hand in hand through the Darién Gap, trying to get to the United States.
They brought with them their pet turtle, called Tuga. pic.twitter.com/7n39INmkpm
— julieturkewitz (@julieturkewitz) November 10, 2022