Every January, economist Elliot Eisenberg comes to Denver from Washington, D.C. to update Realtors and lenders about the economy and the real estate market. I attended two of his presentations in January and was struck by his remarks about the recent tax reform legislation, which he called “a mistake.”
Reducing taxes when the economy is this healthy makes no sense, he said. Yes, it will have a positive effect on some business, but for only 12 to 18 months, and no more.
Part of what makes our economy healthy is our low unemployment rate, which can’t go much lower. In short, Eisenberg says we need more workers. In light of that statement, I asked him about the possible deportation of DACA children (many of whom are now working adults) and non-DACA illegal immigrants who are also working and paying taxes. He responded “absolutely” when asked if he believes that deporting these workers would only make matters worse for our economy.
I’m reminded of something former President George W. Bush said after Hurricane Harvey: “Good luck rebuilding Houston without immigrants!”