Skip to navigationSkip to main contentSkip to right columnADVERTISEMENTAdrian VolenikFri, June 26, 2026 at 12:31 AM GMT+2 7 min readBenzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below.The rise of anti-immigration sentiment in many countries may have less to do with racism and more to do with economic frustration, says SkyBridge Capital founder Anthony Scaramucci.In a recent post on X, he said that when people feel financially secure and optimistic about the future, immigration tends to become a much less important political issue. But when families start falling behind, the conversation changes.The American Dream And Economic AnxietyScaramucci pointed to his father as an example of what many Americans once expected from life.Don't Miss:Paying too much toward debt? Find out how much you could save with a quick, free check.Turned down for a HELOC? You may still have options if you have substantial home equity."My dad was a crane operator, earned union wages, putting in the time, and felt pretty good about himself," he wrote on X recently. "He wasn't [Amazon (NASDAQ: AMZN) founder] Jeff Bezos, but his kids were going to do better than him."My dad was a crane operator, earned union wages, putting in the time, and felt pretty good about himself.He wasn't Jeff Bezos, but his kids were going to do better than him.That was the deal in the US and he believed in it.When you feel that way, you're basically agnostic… pic.twitter.com/KESKXMY6LH— Anthony Scaramucci (@Scaramucci) June 10, 2026According to Scaramucci, that expectation used to be part of an unwritten social contract. People didn't need to become wealthy. They simply wanted to believe that hard work would create a better future for their children."When you feel that way, you're basically agnostic to immigration," he said.On the other hand, he argued, rising costs and declining affordability have changed that outlook for many families."But when you're in decline, when the affordability crisis has you missing mortgage payments, skipping the dentist, watching your kids fall behind where you were at their age, the immigrants become the threat," he said. "Not because they actually are, but because fear needs somewhere to land."See Also: Still on the fence? Coverage gets harder to lock in as you age. Ladder lets eligible applicants apply for term life insurance in minutes — no medical exam required up to $3 million, while you're still eligible."That's Economics"Scaramucci argued that politicians have benefited from this frustration, but he believes the underlying issue is a growing gap between those who are prospering and those who feel left behind.Terms and Privacy PolicyEU DSA contactPrivacy & Cookie SettingsMore Info