- move (the company) out of the US (i.e. to less imposing jurisdictions).
If companies choose the latter, the irony is the resulting reduction in US tax revenue from companies moving out could outweigh the gains in revenue from the $100k H-1B tax, thus resulting in lower US government tax revenues due to the change.
Look if they are willing to do this, what makes you think they will allow them to move abroad without severe penalties? We are in a new era. Think of all the power the US government could bring to bear on a company.
> what makes you think they will allow them to move abroad without severe penalties
To my knowledge, there's no penalty (severe or otherwise) for shutting down a company in the US.
There are probably many more gentle solutions too, like if a multi-national wants an H-1B, but they have offices in other countries, they might simply hire through their offices in other jurisdictions. The employee could even take extended work trips to the US if required (but remain hired through the other country's office).
H1Bs are much less of a problem than the offshoring and outsourcing. I’d rather lure top talent to live in the US than ship jobs off to exploited contractors who work for nothing.
I'd rather have neither. I'd rather not import foreign labor to compete with Americans for housing, jobs, wages, healthcare, political power etc. This is a zero-sum game, the nation and its economy exists for the benefit of its citizens not to provide prosperity to people who don't live here.
I think the assumption of it being a zero-sum game is wrong. Almost half of Fortune 500 companies were founded by immigrants or their children [0]. The source is still the American Immigration Council, but even just looking at a specific example can illustrate that it might not be a zero sum game.
Jensen Huang, the co-founder and now CEO of NVIDIA, was an immigrant. NVIDIA is one of the most valuable companies today and has generated thousand of jobs and has helped create the AI revolution happening right now. You can argue that some other American born citizen would have created NVIDIA or found the same success, but that is difficult to prove.
I fundamentally disagree that this is a zero sum game. Many immigrants add to the American experience and many become citizens themselves. The country loses out in ignoring foreign labor, especially if it’s foreigners who are taught in our schools and want to come and work here.
People just wanted cheap goods while not caring how the sausage was made. People didn't care to understand the long term damage just that today's needs should be served. Then companies learned that they can/need recruit 10x cheaper in other countries to make it cheaper that is what they did.
Now the apathy shoe is on the other foot. This government's action have ensured there cannot be any study to show impact of these rules in an impartial manner. Everything has to be for or against these rules. That means people don't care to understand the long term damage just that today's needs should be served.
I don't think the "or their children" means a whole lot here, but the fact that immigrants start a lot of businesses on average than your average US citizen, which is actually important.
What is funny is that the H-1B "scheme" surpassed all expectations by selling the "American Dream" so well to the rest-of-the-world that they all actually lost due to "brain drain". It was a brilliant long-term strategy.
And yet you have people refusing to face the facts and see the data that the US has-been and is the clear winner in all this.
Yea, the United States is the original Meta but instead of having to pay a ton and recruit the best and the brightest, they just came to us. Imagine how much more powerful China and India would be if we didn’t get so many of their smart people.
a lot of international athletes come to the usa on athletic scholarships. Universities are also a gateway for about a million students a year. And then there are about a 100 million tourists a year who can head to a sanctuary city… And a lot of labor just walks over also via a daily limit upto 15k people per day depending on wage inflation. It’s not so much a drain as a centrifuge that concentrates the willing and able from every category.
This is propaganda. CS new grads from Top10 are finding it tough to get jobs. There is lot of supply of smart CS grads within US. No need to hire H1Bs in the current economic situation which is different from late 90s when H1B program started.
It's not an opinion piece but a data-based summary. The sources are listed in the "Endnotes" section (listing 56 notes!) of the paper which you are free to study.
The American economy is for the benefit of Americans. Period. We don't care what foreigners think about domestic policies of Americans and their elected leaders. This is something that should have been done a while ago. There are plenty of Americans that can fill these jobs. We have industries issuing layoffs while simultaneously requesting foreign labor. It's time to end this nonsense.
Agreed. And if there aren't enough Americans or if our culture does not value academics then the solution is not more H1B's but to fix the culture. Higher tariffs on foreign labor and products will reduce the debt. The money that would have gone towards debt interest could be spent on domestic needs, including cultural programs.
Readit News
- stomach the cost increase,
- reduce the number of H-1Bs they hire,
- move (the company) out of the US (i.e. to less imposing jurisdictions).
If companies choose the latter, the irony is the resulting reduction in US tax revenue from companies moving out could outweigh the gains in revenue from the $100k H-1B tax, thus resulting in lower US government tax revenues due to the change.
To my knowledge, there's no penalty (severe or otherwise) for shutting down a company in the US.
There are probably many more gentle solutions too, like if a multi-national wants an H-1B, but they have offices in other countries, they might simply hire through their offices in other jurisdictions. The employee could even take extended work trips to the US if required (but remain hired through the other country's office).
Jensen Huang, the co-founder and now CEO of NVIDIA, was an immigrant. NVIDIA is one of the most valuable companies today and has generated thousand of jobs and has helped create the AI revolution happening right now. You can argue that some other American born citizen would have created NVIDIA or found the same success, but that is difficult to prove.
I fundamentally disagree that this is a zero sum game. Many immigrants add to the American experience and many become citizens themselves. The country loses out in ignoring foreign labor, especially if it’s foreigners who are taught in our schools and want to come and work here.
[0] https://www.americanimmigrationcouncil.org/report/fortune-50...
People just wanted cheap goods while not caring how the sausage was made. People didn't care to understand the long term damage just that today's needs should be served. Then companies learned that they can/need recruit 10x cheaper in other countries to make it cheaper that is what they did.
Now the apathy shoe is on the other foot. This government's action have ensured there cannot be any study to show impact of these rules in an impartial manner. Everything has to be for or against these rules. That means people don't care to understand the long term damage just that today's needs should be served.
And yet you have people refusing to face the facts and see the data that the US has-been and is the clear winner in all this.
Dead Comment
Here are DOL's "Fact Sheets" on H-1B - https://www.dol.gov/agencies/whd/fact-sheets/62/h1b