Charles Payne

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Two weeks ago, Eric Cantor turned the world of politics upside down with a crushing loss; it was the first time, ever, that a sitting majority leader lost a reelection attempt. While there were several factors (including a perceived aloofness with constitutions, and cozy relationships with big business headlines) that focused on Cantor's moves toward so-called immigration reform.

Last week, President Obama's handling of immigration was also a shocker ion- when 65% of Americans disapprove, there is something horribly wrong. This is a hot-button issue and will be influential in upcoming elections. The politics of it all may involve some xenophobia, but for the most part, it comes down to economics and the rule of law.

Americans have been horrified by Russia's boldface moves into Ukraine, which have defied the rule of law, while erasing established borders. With many, it seems indifferent to the US border being porous and violated.

The Economics of Immigration

"Keep, ancient lands, your storied pomp!" cries she
With silent lips. "Give me your tired, your poor,
Your huddled masses yearning to breathe free,
The wretched refuse of your teeming shore.
Send these, the homeless, tempest-tost to me,
I lift my lamp beside the golden door!"

-Emma Lazarus

There is no debating the benefits of America's melting pot. Millions of immigrants have come to this country to make it their own, assimilated, and have added unique touches and skills. Yes, America has taken in the huddled masses, but those huddled masses have taken their yearning to be free and to leave indelible marks that have enriched and have even helped make America unique and special. Let's face it; this debate is not about legal immigration.

Within the United States, three in four immigrants are legally in this country, and like those that came before them, they are doing remarkable things.

An immigrant or the children of immigrants have founded 40% of fortune 500 companies. These companies employ 10 million workers and are worth $4.2 trillion.

From 1995 to 2005, start-ups by immigrants in Silicon Valley employed 450,000 people, while generating $52 billion in sales.

Many immigrants begin 50% of all start-ups in Silicon Valley.

Forever Young


Charles Payne

Charles V. Payne is a regular contributor to the Fox Business and Fox News Networks. He is also the Chief Executive Officer and Principle Analyst of Wall Street Strategies, Inc. (WSSI), founded in 1991 which provides subscription analytical services to both individual and institutional investors.