Latino Purchasing Power Grows, While Anti-Immigrant PAC formed Argues Detriment To Economy
A recent report outlines how Latinos purchasing power will be double the nation’s growth. Seems Rep. Tancredo wants the American economy to fail. – Axel
LatinaLista — The power of political action committees is fierce. One has only to look at the Tea Party to see what happens when determination sets in to elect only like-minded candidates.
That’s why news today that a new political action committee was being formed with another laser-specific agenda caught most people off guard.
Former Rep. Tom Tancredo (R-Colo.) has filed the paperwork for a “super” political action committee that can raise unlimited donations to spend for candidates that oppose illegal immigration.
The super PAC is calling itself the American Legacy Alliance. The website flashes a series of questions alongside pictures of white families and children, asking such things as “Will they have use for English in their own country?” and “Fight to preserve your legacy to them” — flashed alongside a picture of a white family.
The website makes it clear that “something and someone” is causing the downfall of the American economy and society. The not so subtle question about English directs the reader as to who to blame.
The ignorance of Tancredo on just how much Latino immigrants, undocumented or otherwise, contribute and have always contributed to our economy is mind-blowing. The sad part is that Tancredo fully believes his own distortions of facts that he has been regurgitating for several years to get people on his side.
If people only knew just how much Latino immigrants contribute to the US economy.
Just today IBISWorld, a nationally recognized independent source of industry and market research, released a report showing that the Latino demographic — of which the undocumented comprise a sizeable portion — are contributing to the profitability of seven specific industry sectors.
The Growing Hispanic Population Means Big Business for These 7 Sectors report reveals:
By 2016, the Hispanic demographic will comprise 17.8 percent of US residents and, while the nation’s buying power is projected to grow 27.5 percent to $14.7 trillion, the Hispanic population’s buying power is forecast to grow a whopping 48.1 percent to $1.6 trillion.Hispanics are major purchasers of children’s and infants’ clothing, accounting for about 19.2 percent of industry sales in 2011.
Hispanic men spend 7.0 percent more than non-Hispanic men on clothing on a per capita basis.
Hispanics are 7.0 percent more likely than the general population to own a smartphone, download music online, utilize mobile video, use e-mail and send or receive text messages.
By 2016, Hispanics will contribute roughly $14.0 billion to the car and automobile manufacturing industry, representing annualized growth of 7.4 percent from 2011 to 2016.
Restaurants across all food types have also benefited from the growing Hispanic population. Social factors, such as the tendency to dine out with the entire family, give this group a substantial 11.4 percent share of the single location full-service restaurants industry.
From 2011 to 2016, Hispanic contribution to the credit card processing and money transferring industries will grow at an annualized rate of 7.2 percent, faster than the industry’s revenue growth.
From these statistical facts and projections, it’s clear the role of Latinos, regardless of citizenship, is and will continue to be a vital component on strengthening the health of the US economy.
Unfortunately, if Tancredo and others like have their way, the American people will never know the truth — until it proves to be too late for our economy.