Illegal Immigration's Economic Effects: Elon Musk's Perspective


Illegal Immigration's Economic Effects: Elon Musk's Perspective
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In a series of assertive social media posts, tech mogul and billionaire Elon Musk recently voiced his concerns about the economic impacts of illegal immigration, directly critiquing the Biden administration's approach to managing the border crisis.

Musk, who has made headlines with his acquisition and rebranding of the social media platform X, previously known as Twitter, highlighted various services and benefits accessible to illegal immigrants in the United States.

He pointed out that these individuals can avail bank loans, mortgages, insurance, and driver’s licenses, as well as free healthcare in states like California and New York, and in-state college tuition rates. Musk raised a provocative question: "What’s the point of being a citizen if an illegal gets all the benefits, but doesn’t pay taxes or do jury duty?" This statement reflects his perspective on the nuances of the immigration debate.

Housing Crisis Worsens

Further emphasizing his stance, Musk linked these benefits to the escalating housing affordability crisis in the U.S., remarking, "If you’re wondering why housing is so expensive, this is a major contributor." The housing market in the U.S.

has indeed been experiencing unprecedented highs, with prices peaking in November and mortgage rates soaring due to the Federal Reserve's anti-inflation measures. This situation has led to a significant reluctance among sellers to part with low-rate mortgages, further straining the market.

The impact extends beyond homebuyers to renters, who are increasingly burdened by housing costs. A study by Harvard’s Joint Center for Housing Studies reported a record number of "cost burdened" American renters in 2022, totaling approximately 22.4 million individuals.

This figure represents nearly half of the country's renters, who are struggling with housing payments exceeding 30% of their income. Musk, himself a legal immigrant and a naturalized American citizen originally from South Africa, clarified his stance on immigration.

While opposing illegal immigration, he strongly advocates for expanding legal immigration pathways. "I’m not anti-immigration," Musk stated, "I’m just against a massive number of unvetted people flooding into America, which any rational person should be." Addressing potential solutions, Musk suggested that President Biden and Congress could make headway in resolving the southern border crisis without new legislation.

He proposed that an executive order to reform asylum policies could be effective. "No laws need to be passed," Musk opined. "All that is needed is an executive order to require proof before granting an asylum hearing.

Elon Musk