Alongside federal income taxes, immigration has been a mainstay of former President Trump’s campaign since the very first time he hit the trail in 2015.

But it’s a sensitive — and complicated — issue: Immigration is a hallmark of our nation’s identity.

A sonnet written by the daughter of Portuguese-Jewish immigrants, Emma Lazarus, expresses this idea best, portraying America as the “Mother of Exiles.”

Photo courtesy: National Park Service
The 1903 bronze plaque located in the pedestal of the Statue of Liberty

Like I said, it’s complicated… and deeply ingrained in the American consciousness.

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Your Rundown for Monday, October 28, 2024...

How Do We Fix Immigration?

For weeks, I’ve been contemplating how to address the issue of immigration with the sensitivity it deserves.

(After all, your ancestors and mine likely emigrated from other countries sometime during the last couple centuries.)

So here goes…

First, let’s compare U.S. immigration with that of other developed nations:

Source: Organization for Economic Cooperation and Development (OECD)
Most recent available data: Number of immigrants in OECD countries, 2021

“The U.S. is by far the largest recipient nation in this list,” the OECD notes. In fact, around 14% of our population is “foreign-born.”

The U.S. also has the largest per capita GDP in the world.

In the interest of comparing “apples to apples” I thought it would be reasonable to look at the immigration policies of the country that’s in second place on the list above…

The so-called “economic powerhouse of Europe,” Germany.

Here are some of Germany’s key immigration policies and how they compare with U.S. policies:

• Germany follows the principle of jus sanguinis (citizenship by descent) rather than jus soli (birthright citizenship) like the U.S. Children born in Germany to non-German parents do not automatically receive citizenship.

• Germany has stricter naturalization requirements, including longer residency periods before eligibility.

• Germany's asylum policies have been tightened in recent years to reduce applications, including designating certain countries as "safe" and streamlining deportation procedures.

• Work-based immigration to Germany is more restricted, with a focus on highly-skilled workers rather than broader labor migration.

• Perhaps most striking? Germany requires financial proof that an immigrant can support himself. And this is necessary to obtain a visa, to apply for a residence/work permit and to study in Germany as an international student.

While the U.S. embraces a more open approach, Germany's stricter regulations highlight significant differences in citizenship, naturalization and financial requirements.

Clearly, this issue is too complex for a single episode of Election Insider - The Rundown.

Join us tomorrow as we’ll delve deeper and explore potential paths for reform in the ongoing national conversation about U.S. immigration.

Market Rundown for Monday, Oct. 28, 2024

S&P futures are up 0.45% to 5,875.

Oil, wow, is down 6% to $67.29 for a barrel of WTI.

Gold’s down 0.35% to $2,774.90 per ounce.

And Bitcoin is up 1.75% to $68,850.

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