If you’re poor and raising kids in the South, you owe it to your children to move elsewhere as soon as possible. David Leonhardt, for The New York Times:
Especially intriguing is the fact that children who moved at a young age from a low-mobility area to a high-mobility area did almost as well as those who spent their entire childhoods in a higher-mobility area. But children who moved as teenagers did less well.
The Second-Biggest Myth About Unpaid Internships: They’re Just for the Rich:
If anything, poor and middle class students are extra likely to get stuck in unpaid internships. Rich kids, by and large, seem to prefer collecting a paycheck.
Such were the findings of a fascinating 2010 study conducted for Intern Bridge, a consulting firm that specializes in college recruiting, and one of the few major sources of data on the internship market. After analyzing survey responses from thousands of college students, the paper concluded: “Our findings do not support the common contention that students from the wealthiest families have greater access to unpaid internships, even among most for profit companies. Low income students have a much higher level of participation in unpaid internships than students from high income families.”
This was a myth that I believed until I read this article. Turns out I wasn’t completely wrong though: rich kids do tend to take a large share of the unpaid internships in Hollywood and Wall Street.
The Economic Effects of Granting Legal Status and Citizenship to Undocumented Immigrants:
Under the first scenario—in which undocumented immigrants are granted legal status and citizenship in 2013—U.S. gross domestic product, or GDP, would grow by an additional $1.4 trillion cumulatively over the 10 years between 2013 and 2022. What’s more, Americans would earn an additional $791 billion in personal income over the same time period—and the economy would create, on average, an additional 203,000 jobs per year. Within five years of the reform, unauthorized immigrants would be earning 25.1 percent more than they currently do and $659 billion more from 2013 to 2022. This means that they would also be contributing significantly more in federal, state, and local taxes. Over 10 years, that additional tax revenue would sum to $184 billion—$116 billion to the federal government and $68 billion to state and local governments.
Under the second scenario—in which undocumented immigrants are granted legal status in 2013 and citizenship five years thereafter—the 10-year cumulative increase in U.S. GDP would be $1.1 trillion, and the annual increases in the incomes of Americans would sum to $618 billion. On average over the 10 years, this immigration reform would create 159,000 jobs per year. Given the delay in acquiring citizenship relative to the first scenario, it would take 10 years instead of five for the incomes of the unauthorized to increase 25.1 percent. Over the 10-year period, they would earn $515 billion more and pay an additional $144 billion in taxes—$91 billion to the federal government and $53 billion to state and local governments.
Finally, under the third scenario—in which undocumented immigrants are granted legal status starting in 2013 but are not eligible for citizenship within 10 years—the cumulative gain in U.S. GDP between 2013 and 2022 would still be a significant—but comparatively more modest—$832 billion. The annual increases in the incomes of Americans would sum to $470 billion over the 10-year period, and the economy would add an average of 121,000 more jobs per year. The income of the unauthorized would be 15.1 percent higher within five years. Because of their increased earnings, undocumented immigrants would pay an additional $109 billion in taxes over the 10-year period—$69 billion to the federal government and $40 billion to state and local governments.
It’s like a stimulus package that reduces the deficit.