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Phase 1: There would be a huge number of IT jobs that companies would mostly need to fill with Americans. They would then aggressively recruit Americans with degrees in anything STEM-related and train them for the specific skills on the job. This aggressive recruitment would lead to much HIGHER wages for EDUCATED Americans, INCREASE the level of employment, and DECREASE underemployment.
Phase 2: With a large group of mostly young, tech-savvy Americans now getting bigger paychecks, they would have much MORE disposable income and would drastically INCREASE their spending, which would INCREASE growth in other industries.
Phase 3: With demand now increasing across the broader economy, other sectors such as retail and service would need more workers and they would INCREASE hiring and INCREASE wages to attract workers. This phase would be most beneficial to LOWER skilled workers as they would see HIGHER levels of employment and HIGHER wages.
Phase 4: With the economy BOOMING, the middle class RETURNING, and wages SOARING, the government would find itself with a SURPLUS from the LOWER welfare spending and HIGHER tax intake. As a result, Congress would DECREASE tax rates.
Phase 5: With many more financially INDEPENDENT Americans and lower tax burdens, skilled workers would increasingly look to start their own ventures. INNOVATION would increase and we would likely see a new wave of transformative inventions that would set the course for decades ahead.
Yeah sure, it might be good for hundreds of thousands of Americans but Zuckerberg's net worth would decrease by 10 or 20% if he had to pay higher wages so we can't have that.
Yeah sure, it might be good for hundreds of thousands of Americans but Zuckerberg's net worth would decrease by 10 or 20% if he had to pay higher wages so we can't have that.
What? Sorry but you are 100% wrong. Only thinking of YOURSELF. Shame on you
Phase 1: There would be a huge number of IT jobs that companies would mostly need to fill with Americans. They would then aggressively recruit Americans with degrees in anything STEM-related and train them for the specific skills on the job. This aggressive recruitment would lead to much HIGHER wages for EDUCATED Americans, INCREASE the level of employment, and DECREASE underemployment.
Phase 2: With a large group of mostly young, tech-savvy Americans now getting bigger paychecks, they would have much MORE disposable income and would drastically INCREASE their spending, which would INCREASE growth in other industries.
Phase 3: With demand now increasing across the broader economy, other sectors such as retail and service would need more workers and they would INCREASE hiring and INCREASE wages to attract workers. This phase would be most beneficial to LOWER skilled workers as they would see HIGHER levels of employment and HIGHER wages.
Phase 4: With the economy BOOMING, the middle class RETURNING, and wages SOARING, the government would find itself with a SURPLUS from the LOWER welfare spending and HIGHER tax intake. As a result, Congress would DECREASE tax rates.
Phase 5: With many more financially INDEPENDENT Americans and lower tax burdens, skilled workers would increasingly look to start their own ventures. INNOVATION would increase and we would likely see a new wave of transformative inventions that would set the course for decades ahead.
Really, just think of all the billionaires that may only be able to buy one entire tropical island, and not two. Seriously dude, don't be such a hater.
OP - Please be quiet. Your ideas scare the Hell out of the investor classes. Their fear goes beyond money. They cannot tolerate the idea the regular people might have enough money to contaminate their exclusivity and privilege. That would destroy "life as they know it".
If we add countervailing tariffs and an all sources with a 90th percent deductible Income tax to eliminating H1b and some of the other immigration schemes your scenario would become reality. Very well said, thank you.
yeah sure, it might be good for hundreds of thousands of americans but zuckerberg's net worth would decrease by 10 or 20% if he had to pay higher wages so we can't have that.
What? Sorry but you are 100% wrong. Only thinking of YOURSELF. Shame on you
No he's right because the cost of labor would increase because the flow of HB visas would cease.
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