@GabeGuidarini
๐๐ก๐ข๐ฌ ๐ข๐ฌ ๐ญ๐ก๐ ๐ฆ๐จ๐ฌ๐ญ ๐ข๐ฆ๐ฉ๐จ๐ซ๐ญ๐๐ง๐ญ ๐ฉ๐จ๐ฌ๐ญ ๐ฒ๐จ๐ฎโ๐ฅ๐ฅ ๐๐ฏ๐๐ซ ๐ซ๐๐๐ ๐จ๐ง ๐ฆ๐๐ฌ๐ฌ ๐ข๐ฆ๐ฆ๐ข๐ ๐ซ๐๐ญ๐ข๐จ๐ง ๐ข๐ง๐ญ๐จ ๐ญ๐ก๐ ๐๐ง๐ข๐ญ๐๐ ๐๐ญ๐๐ญ๐๐ฌ:
In 1924, President Calvin Coolidge signed the Johnson-Reed Immigration Act, which halted mass immigration into the United States.
The act completely stopped immigration from Asia, and set strict quotas on immigration from other places including Europe.
Wages began to dramatically increase.
By the 1950s, America reached the peak of its economic and industrial might. Economic inequality was low. Large businesses and workers alike were prospering.
Then, in 1965 the Hart-Cellar Immigration Act was signed by President LBJ, opening the floodgates and allowing for massive unchecked immigration, especially from the global south.
Immediately, income growth and wage growth for the bottom 90% of earners came to an abrupt halt.
Soon after, the incomes for the top 1% of earners skyrocketed, leading to the massive wealth inequality in America we see today.
The political left attributes this to simply a lack of proper taxation and regulation, but thatโs mainly not the case.
Mass immigration has allowed for modern scab labor to become the norm, allowing large companies to pay lower wages for foreign migrants who demand less.
The loser? Americaโs middle class, which has been deteriorating for more than half a century now.
When you see wealthy technocrats argue in favor of mass โskilledโ immigration, keep this in mind.
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