At the 9:56 mark of the CNBC video below, Larry Kudlow says:
“Going back to the mid 1980s; Reagan signed a rather liberal immigration bill. We had a lot of immigrants come into this country. The 80s & 90s were really the high tide. Those were also extremely prosperous decades.”
But if we look at some actual facts, rather than Kudlow’s blatant corporate propaganda, we see something quite different. See the chart on my legal immigration page.
If we wanted to go back to a Reaganesque level of legal immigration, we would have to chop our current quotas nearly in half. Legal immigration averaged 578,739 per year during the Reagan administration, and since 2001 it has averaged 1,049,560. In other words, Kudlow’s “high tide” is right now, not back in the 80s.
By Kudlow’s logic of “mass immigration = prosperity” our streets should be paved with gold today. Instead, we see a vast impoverished underclass 47-million strong, seemingly on the verge of intifada.
But of course, Kudlow knows that. Kudlow is just doing his part to build what Karl Marx called “The Reserve Army of Labor” – the function of which is to crush wages by flooding the labor market with millions of surplus workers. This army is already huge, but Kudlow is campaigning hard to add more divisions to it. Learn more in my book.
Note: The single-year record for legal immigration was set in 1991. However, Kudlow was talking about decades, so that’s why I used a chart showing decades.