A Kamala Harris candidate would be a win-win for Wall Street investors because she would welcome more low-wage, legal and illegal immigrants from around the world, according to New York investment firm Goldman Sachs.
The options are Hospitalized The September 3 report, “Elections and the Economy: Estimating the Impact on Immigration, Trade, and Fiscal Policy,”
If Harris wins, net migration is expected to continue. [at] 1.5 million [million] That's slightly above the pre-pandemic trend of 1 million per year. [legal immigrants]If Trump wins in a divided government, net migration is expected to fall to 1.25 million. If the Republicans win, Congress may increase enforcement resources, and net migration is expected to fall to 750,000.
Goldman said the biggest short-term impact will come from President Donald Trump's support for tariffs to protect American industry, jobs and science.
But the company's chart shows that a decline in immigration would be the second-largest change, especially after January 2026. “We estimate that if Vice President Harris is elected, immigration's contribution to labor force growth would be about 30,000 people per month higher than in a Republican sweep scenario,” the report said.
But the report points out that President Trump's populist policies would only cost the country around 0.5% of its economy.
Trump will either win by a landslide or split the nation. For the government, the hit to growth from tougher tariffs and immigration policies is This outweighed the positive effects of fiscal stimulus and resulted in a peak hit to GDP growth.-0.5 points [percentage points] In 2025…it will decrease in 2026.
Immigrants sent by governments stimulate the economy by serving as workers who cut wages, tenants who drive up rents, and government-funded consumers.
The federal government's “extractive migration” strategy imposes huge costs on ordinary Americans and reduces pressure on businesses to invest in high-tech productivity and foreign trade, yet provides a huge human boost to Wall Street investors in the U.S. consumer economy.
Goldman Sachs has been hugely successful for wealthy investors over the years, but it's also disliked by populist critics on both the left and the right. Goldman Sachs I mean it's everywhere…. [and] A 2010 study found that it is a giant vampire squid that wraps itself around humans' faces and mercilessly drains the blood of anyone who smells money. article in Rolling Stone magazine.
The report does not explain why Goldman Sachs believes immigration would decrease with Harris in the Oval Office.
Her words suggest she has no intention of reducing the massive influx of legal, illegal and semi-legal immigrants orchestrated by President Joe Biden's pro-immigration border chief. She is also supported by many wealthy California investors who stand to profit from mass immigration, as well as many progressives who want to use immigration to forcibly diversify the country's popular culture.
Harris' economic plan offers few strategies for economic growth beyond increasing immigration.
The report also appears to have significantly underestimated the influx of migrants that Biden's border chief, Cuban-born Alejandro Mayorkas, allowed through before the election. In July, for example, Mayorkas allowed about 170,000 migrants through the southern border, at a rate of about 2 million per year. That influx was on top of 1 million legal inflows and inflows of temporary workers, including about 500,000 blue-collar workers and 500,000 white-collar workers.
Biden's lieutenants have imported about 10 million legal and illegal immigrants since January 2021. This massive influx amounts to an additional three immigrants for every four Americans born in that period.
Mayorkas said immigrants Helping Subordinate higher paid American professionals to a cadre of investors.
Trump has pledged to help Americans by stemming immigration from the South and deporting some of the roughly 15 million illegal immigrants in the country, but since 2015 he has backtracked, making various claims to donors that he would increase the importation of white-collar workers.
Trump's zig-zag policies have helped him retain crucial support from wealthy donors but also eroded his lead in the polls on immigration.
President Trump also promised to help young Americans by removing illegal immigrants from the U.S. housing market.
The Goldman Sachs report makes no mention of the increased productivity and income of Americans that would result from employers losing access to excess, cheap labor.
