Major Events in our Country Essay Example | Topics and Well Written Essays - 750 words

Major Events in our Country - Essay Example ople left displaced and unemployed as a result of the hurricane posed a major economic strain on the government, which was forced to come up with tax relief measures for the affected population. Hurricane Katrina did not have positive effects on anyone, although oil and gas producers may have benefitted from the increased prices of the two commodities. The United States economy has in both negative and positive ways, been affected by the influx of illegal immigrants into the country. On the positive side, illegal immigrants as Jacobe writes, expand the American economy by accepting low wages, paying taxes, and spending money (1). However, critics of illegal immigration, according to Jacobe are of the opinion that the government loses a lot of expenditure in providing basic services to these immigrants (1). This is because the taxes paid by the latter are not enough to cover the costs of their basic services. There is also the notion that illegal immigrants take up the jobs originally meant for Native Americans, the reducing the total wages of the latter group. Illegal immigrants arguably get the most benefits, considering the free public services given to them, regardless of the minimal taxes paid by this group. The rate of high school dropouts in America is at an all time high, with data showing that the graduation rate stood at 52 per cent as of 2008 (Fields 1). The effect of this high dropout rate on the national economy is that there are fewer people joining the workforce, hence reduced tax revenue. According to Fields, if the number of high school dropouts was reduced by half, the United States would collect approximately $45 billion in tax revenue per annum (1). The dropouts also suffer economically, in terms of a significant reduction in their lifetime earnings. According to Fields high school graduates have approximately 40 per cent more lifetime savings than their dropout counterparts (1). In this case, therefore, both the federal government and the