Someone mentioned a 100% tax on all money wires going into Mexico. That would raise the money in a month.
I trust that you are joking with this economically illiterate suggestion.
Heck of a plan. The day after such a tax is passed I can set up a business in Canada or some off-shore Caribbean island that will allow people to wire money there for immediate transfer to Mexico, for a small fee of course. You tax revenue drops to zero and my fortune is made.
“Someone mentioned a 100% tax on all money wires going into Mexico. That would raise the money in a month.”
That is absolutely correct. The Trump campaign put out a memo on that. But Trump seems to have forgotten about it. It should be looked at again
Mexico, the Philippines, China....
A 100% on all money wires going into Mexico would bring in revenue for about 1 day. After that no one would use that method, and find other ways. An offshore business would make a fortune wiring the money for them.
More alcohol was produced during Prohibition than before the government instituted it - a great boon to organized crime. That's why it was repealed shortly afterwards. A 100% tax would be tantamount to Prohibition.
Now, a more reasonable tax - e.g., 25-50%, might work. But again, ways may be found to skirt even that tax.