Last updated on: 12/29/2016 | Author:

Michael McDonald, PhD Biography

Assistant Professor of Finance at Fairfield University
Not Clearly Pro or Con to the question "Should the Government Allow a Path to Citizenship for Undocumented Immigrants?"

“The economic impact of illegal immigration in the US is costly and impacts the financial security of the county’s legal residents. This impact plays out in a number of ways.

Illegal Immigration Reduces Wages… Those unregulated workers are often underpaid, which keeps wages lower in a particular occupation and region…

Illegal aliens can put a financial burden on local and federal law enforcement…

Immigrants on average tend to have larger families than those in the US. This difference can strain the resources of local school districts…

The arrival of illegal immigrants both in the US and in other countries creates a problem that is often under the radar: a black market for goods and services. Black markets are not regulated or taxed by the federal or state government, which means that the goods and services traded there do not contribute to the tax base…

They also can drive up car insurance rates. That’s because some states make it hard for undocumented workers to get driver’s licenses. One study found that drivers in those states pay a higher amount for car insurance because they are surrounded by more uninsured motorists…

Illegal immigrants come from another country, so financial problems can arise when there are excess amounts of emigration. Such a trend can destabilize foreign countries and reduce the ability of US firms to export goods to those nations.”

“10 Ways Illegal Immigration Affects You Financially,”, Nov. 16, 2015

Involvement and Affiliations:
  • Assistant Professor of Finance, Fairfield University, 2014-present
  • Subject Matter Expert, Certification Management Services, Jan. 2012-present
  • Consultant, Morning Investments, Aug. 2010-present
  • Senior Editor,, July 2013-Dec. 2014
  • Research Analyst, Wachovia Securities, June 2006-Aug. 2010
  • PhD, Finance and Financial Management Services, Haslam College of Business at the University of Tennessee, 2014
  • MA, Economics, Clemson University, 2006
  • BA, Industrial Engineering, 2005
  • None Found
Quoted in:
  1. Is Illegal Immigration an Economic Burden to America?