John Funderburk for Congress | Policy
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Policy Statement

John Funderburk for Congress

 

How Increasing Immigration Will Boost The Economy And Get Us Out of Debt We Don’t Need To Fight Over A Shrinking Pie. We Need To Bake a Bigger Pie.

Immigration Is The Key
Our immigration system is broken. On our current course here in the U.S., we seem headed for a repeat of the “Evil May Day” Riots that tore London apart in the spring of 1517, pitting young English apprentice workers against wealthy Germans merchant-class immigrants.

During that spring, sporadic attacks on immigrants had begun several weeks before, but that warm night on April 30, 1517 would prove to be the the worst outbreak of anti-immigrant violence yet. A mob of one thousand young white men, angry over recent immigrants taking what they considered their jobs, and egged on by xenophobic speeches telling white men like them to “cherish and defend themselves,” poured onto the city streets in Cheapside. They ignored a 9pm curfew set by the city’s mayor, and headed to a neighborhood known to shelter immigrants. Here they were met by a fusillade of rocks, bricks, and even boiling water thrown from upper windows into the streets.

Before the riots died down shortly after 3am more than 300 arrests were made, with the Duke of Norfolk himself calling on 1,300 of his private troops to subdue the melee. Thirteen men paid with their lives in the bloody aftermath. It doesn’t have to be this way here in America. We need a return to our historic philosophy which sees the benefits of immigration.

When we grow our population, we grow our economy… The American industrial revolution of the 19th and 20th century that built this nation, won two World Wars and the Cold War and put a man on the moon happened not just because of what was being built in our factories and plants, but because there were ​enough
​ Americans to buy what was being made. Immigration helped build that. But in the Trump “America-First” era we are forgetting that crucial catalyst.

Even with unemployment now close to 3 percent, which is considered by many to be “full-employment” this summer we showed a record number of job openings, 7 million according to the Department of Labor. Who will fill those jobs? Not Baby Boomers, they’re retiring. Native-born Americans? Our birth rate is the lowest in 30 years, on par with Russia and Japan, who are struggling to maintain their population and their economy.

You don’t have to look far to see the cracks. Auto sales are slumping, even in this supposedly booming economy. GM, the biggest U.S. auto producer, in October reported selling 11 percent ​fewer
​ cars last quarter than it did a year ago. If the economy is doing so much better, why is GM selling LESS? Our food industry throws away ​40 percent​​ of its production a year, 150,000 tons per day, according to the ​Natural Resources Defense Council
​ , more than $220 billion. Our dairies are pouring milk down the drain because there is there no-one to buy it. Grain rots on the side of elevators at harvest time because there is nobody to buy it. The reality is with an economy that is 70 percent consumer-based we are not running at “full-employment” if we have a monthly trade deficit of close to $54 billion and a projected yearly $1 trillion budget deficit. Nearly 50 percent of the sales of the companies in the S&P 500 are in overseas markets. Our trade deficit is where it is today because our demand here is faltering and companies have to seek markets elsewhere to maintain our production. Americans have to realize when we reduce our population, we reduce our GDP because we close off the domestic spigot for demand for our products. This brewing population crisis is going to create an unsustainable path. We are already too dependent on overseas markets which puts pressure on us to keep our currency at an affordable level. Because with the U.S. currency as the world standard, our debt instruments are considered the safest. But if our interest rates rise too quickly if our deficit skyrockets, other countries rates rise more as their currency is considered less safe. As that happens their debt service becomes unmanageable, credit will freeze and t​hey will not be able to buy our products that our GDP depends on. Both political parties in this country have been fighting on how to fix the deficit. We know the tired arguments. Conservatives say reduce spending on entitlement programs. They don’t however want to reduce military spending. Democrats want to increase taxes on the wealthy and the middle class which many say will hurt the economy. I think there’s a better way. Instead of taxing and squeezing more juice out of the tax base, we need to increase our tax base by increasing our population, dramatically. We won’t need to raise taxes, we will ​increase
​ the percentage of taxpayers. We increase the number of people buying food, we increase the number of cars sold, we increase the number of clothes sold, we increase the number of houses sold and apartments rented because everyone needs a place to live. The way to create this demand and tax base and debt relief? Increase immigration. We’ve done this countless times in our history. The Native Americans invited the Irish. When the Irish integrated they invited the Italians, then the Jews, then the Chinese, then Hispanics and then the Indians. ​Now we have a duty to invite a new immigrant generation to become entrepreneurs.

One-quarter of the U.S.-based Nobel laureates of the last 50 years were foreign-born, and highly educated immigrants account for about one-third of U.S. innovation. In recent years, immigrants founded 25 percent of new high-tech companies with more than $1 million in sales, generating income and employment for the whole country.

But we need to have those that come here do three things as part of their citizenship. Integrate.

Pay taxes.

Buy American. Right now we have schools, farms, even whole towns in middle America and the Rust Belt that are EMPTY. We have lost more than 100,000 family farms since the year 2000. More than 200,000 people have left rural America since 2010. Often there is no-one to continue a small business or farm when the current owner retires. The poverty rate in rural America is higher than that of urban America. Let’s repopulate the Midwest with skilled factory workers, tradesmen, IT technician, farmers. Let’s pull from the world people who want to come work here and build America again. And lets get our corporations to help. If Pampers wants 10 million new customers, they can help build this future, with helping build schools and housing. If Ford wants 10 million new customers they can help build it, with cars, and parks, bridges, roads, airports. The new immigrants will reward them with ​American​​ brand loyalty. The bottom line is every immigrant family who comes here, finds a job, or builds a business and buys a home, is creating a multiplier-effect for demand and tax revenue. We’ll use that money to finally being able to pay off the giant debt anchor that has been holding America down for decades. Let’s all make an effort to get past the emotional reaction of who is immigrating and instead recognize the individual potential each immigrant has and change the conversation of the debate. We’ll sell more phones, sell more cars, and pay off our debts, and in the end return America to the promised land it has always been. (John Funderburk is a licensed investment professional and a candidate for the 6th Congressional District in

7000

High Economic Intellect

As a Wealth Manager I personally research over 7000 companies listed on the American Stock Market Exchanges

65

Experience

Serving advising and helping over 65 families daily with their financial health which places me squarely in tune with their needs and concerns.

2020

Strategy

My experience in evaluating analyzing and dissecting economic policy has uniquely prepared me to provide answers for not only today but tomorrow’s challenges.

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