As the years go by, more undocumented immigrants enter the United States for different reasons. In some cases, they do it illegally for personal problems, so they do not end up paying taxes. However, there is also a large portion of expats who pay higher taxes than the average citizen.
Consequently, this places a great financial burden on people who do not usually earn living wages. This is a significant problem that can harm economic and social integration within the country. At the same time, it can lead to crime. Discover here at The Look why immigrants pay thousands of dollars in taxes.
The Hidden Cost of Being an Immigrant: Thousands of Extra Dollars in Taxes
According to several official reports, there are groups of immigrants in the United States who must pay excessive amounts of taxes. Although they pay higher amounts than Native Americans, they do not have access to social programs or benefits. Therefore, they have a lower quality of life and a higher poverty rate.
For those trying to find a secure and stable job, the high amount of taxes represents a great challenge. Especially since this prevents them from being able to settle in the country legally. In addition, it harms your financial ability to send money to your loved ones abroad. Consequently, this generates multiple social problems.
For the average citizen, this immigration situation may not interest him in the slightest. However, this is a problem that affects every person and institution in America. In particular, because the lack of social and economic equality gives way to crime, poverty, disease, and much more. At the end of the day, this hurts everyone equally.
The economic crossroads of immigrants: pay more taxes or be left without basic services?
The main problem with high taxes for immigrants is that they must pay them to access basic services. For that reason, many people of all ages fail to integrate into society. In particular, because they cannot afford health care, education, or housing.
Then, the harsh fiscal situation for migrants can cause them to end up going to another country or returning to their homeland of origin. In both cases, this represents a major loss to the U.S. economy.
Not only because of the high taxes they pay but also because many industries depend on foreign workers. This is because many industries prefer to have undocumented employees, to lower the wage bill considerably.
How to reduce high taxes as an immigrant?
The easiest way to stop paying thousands of dollars in taxes a year is to apply for permanent residency within the country. However, this is a time-consuming process that can require a lot of time and resources. Therefore, it is also recommended to inform yourself about the tax deductions and exemptions that are available to you.
Another efficient way to reduce high taxes is to take advantage of the benefits of tax credits. For example, the Earned Income Tax Credit or the Child Credit can be of great help.
Ideally, you should seek the help of a tax advisor or a lawyer specialized in the area. This way, you can find legal ways to reduce the taxes you pay.