so yes, will be replaced. the entire tech sector and most white collar work, the final bastion of american that is already being hallowed out for profits, will leave. it's already happening. > the us economy will see a boom i highly dispute that because it all depends on how tech uses their new-found profits. are they going to go into r&d? cool, except that they now have h1b visas doing that work too. are they going to hire more tech workers? wait, more h1bs. are they going to invest in better pay structure to hire better talent? but that defeats the entire point of h1b visas... they'll throw out a few stock buybacks, continue to offshore and pay pennies, and maybe they'll add in a few more billion into building manufacturing or infrastructure in america. the vast majority is going to shareholders who will continue to argue for more jeets to replace the expensive, lazy americans. how does the average american benefit from this? are we now just relegated to making coffee for the jeets who now can't even afford it? can we trust business leaders to allocate that capital wisely? in aggregate, we are a consumer based economy, and americans have been squeezed dry. lower compensation = less spending = less profits. it's a curse, because on a per company basis there's an incentive to cut costs, but as a whole, when you take the entire economy into view, less spending by americans is terrible for the economy. but when we're talking about bringing in immigrants to replace white collar workers for cheap to replace entire sectors of the country's economy (who will naturally do more work for less), our focus is on the macro. what are the immigrants doing with this money? remittances? living 6 to a single bedroom? are they raising families here, or are they saving money to return to their home country? where is that cash going? i fully suspect that money is better off in the hands of an american worker when it comes to the economy.
United States