January 3, 2017

THAT’S BECAUSE THEY EXPECT THAT TRUMP WILL BE TAXING THEM SOON: Remittances to Mexico spike after November election.

Remittances to Mexico saw the biggest spike in more than a decade during the month that President-elect Donald Trump was elected, Reuters reported Monday.

Mexican citizens in the U.S. sent home nearly $2.4 billion in transfers in November, which is a nearly 25 percent increase from the previous year, according to Mexican central bank data released Monday.

Total remittances are projected to reach a record $27 billion in 2016, which is $2 billion more than the previous year. Mexicans sent a total of $24.8 billion in remittances in 2015, overtaking oil income as a source of revenue for the country.

The jump could be a reaction to Trump’s stunning victory, as the businessman has threatened to block the transfers and has made building a wall on the border with Mexico a centerpiece of his campaign.

Trump has not specified how Mexico would pay for the wall, but he previously suggested his government would impound remittances.

What percentage of $27 billion would suffice to build a wall? Because then the Mexicans would have paid for it. . . .

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