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Politics : Politics for Pros- moderated

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From: LindyBill	5/7/2005 7:36:28 PM
	of 793916

Even Banco Mexico Counts $20 Billion Escaping the IRS... scyllacharybdis.blogspot.com By BummerDietz The Bank of Mexico puts the 2005 money transfer by [illegal] Mexican aliens, from the U.S. to Mexico, at about $20 billion. 1st quarter 2005 numbers are running 20% ahead of 2004; and the 2004 total was $16 billion. Ergo, 2005 is on a $20 billion pace. Here's some bone to chew on: Not all money transfers into Mexico are cleared by the Bank of Mexico. In fact, only a fraction of dollar transfers into Mexico are processed through the Bank of Mexico. What is the real annual number? Wachovia Bank spots the number at $36+ billion per year. If the Bank of Mexico increase - 20% this year - holds across all institutions, that $36B number would be $43 billion in 2005. Over $50 billion in 2006. Why won't Mexico close the border? To do so would destroy their second biggest source of money -- cash wired from the U.S. Only the state oil company Pemex nets more cash.

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