US tech exports in 2018 was $338 billion. Tech is our biggest export by far. Think of the US tech industry as a siphon that sucks in wealth from foreign countries. Would you want to make that siphon bigger or smaller?
If you want to make that siphon bigger — and more competitive — how would you do it? By limiting the people that can work in tech to whoever companies can hire locally, or by bringing in the smartest people from around the world?
Does "The US" siphon that money off? Or Meta, Google, Amazon, Microsoft, etc. siphon that money off? And where and to whom does it go from there?
The major benefit of reducing or eliminating the H1B visa program is that those companies can continue to do well, and Americans can do well along with them.
The money this siphon brings in is benefiting not just tech workers and tech shareholders. When the money is spent it turns the wheels of our economy, which leads to prosperity for all Americans, not just the 8% or so that work in tech.
The tech industry vacuums up money from foreign countries and pumps it into the economy of our country. The beneficiaries include all Americans, including those who work in restaurants, retail, healthcare, insurance, education, housing, transportation, entertainment and so on.
Limiting tech industry to whoever companies can hire locally will hurt its global competitiveness. Such a move will not just hurt the few would-be tech immigrants that are prevented from immigrating, but American prosperity in general.
When is that prosperity coming to the US? It seems that it's been leaving the US for the past decades and life is harder and harder and the American Dream is hardest to attain in decades.
Restricting or eliminating the H1B visas will cause these companies to hire more in oversea offices. Consulting companies however are a whole other deal.
Because the talent is already here or will be here (on h1b/o1). It's common complaint I hear from people doing offshore consultancies type of businesses that their best workers leave for US $$$ paycheck.
If you want to make that siphon bigger — and more competitive — how would you do it? By limiting the people that can work in tech to whoever companies can hire locally, or by bringing in the smartest people from around the world?
Read more: https://mckoder.medium.com/does-america-need-immigration-781...