Nancy Pelosi to Donald Trump: Thanks for Halting a Few Deportations, Now Give Us a Giant Amnesty

The 2013 amnesty would also have allowed companies to hire an unlimited number of foreign graduates for the white-collar professional jobs which are sought by the 800,000 Americans who graduate with skilled degrees each year. The flood of foreign workers would have been delivered by giving greencards to foreigners who get masters degrees from American universities.

Overall, the 2013 Comprehensive Immigration Reform bill would have suppressed wages earned by ordinary Americans while boosting Wall Street stocks by flooding the labor market with lower-skilled immigrants, said a June 2013 report by the Congressional Budget Office,

“Because the bill would increase the rate of growth of the labor force, average wages would be held down in the first decade after enactment by a reduction in the ratio of capital to labor, which would make workers less productive,” said the report, titled, “The Economic Impact of S. 744, the Border Security, Economic Opportunity, and Immigration Modernization Act.”

The 2013 bill was blocked by grassroots GOP opposition, which included the 2014 shock defeat of the House GOP’s second-ranking leader, Majority Leader Rep. Eric Cantor.

In contrast, Trump’s proposed immigration reform bills would fix many border security problems, and also would shrink or stabilize the inflow of new migrants, so boosting wages for Americans.

Immigration by the Numbers

Each year, roughly four million young Americans join the workforce after graduating from high school or university.

But the federal government then imports about 1.1 million legal immigrants and refreshes a resident population of roughly 1.5 million white-collar visa workers — including approximately one million H-1B workers — and approximately 500,000 blue-collar visa workers.

The government also prints out more than one million work permits for foreigners, tolerates about eight million illegal workers, and does not punish companies for employing the hundreds of thousands of illegal migrants who sneak across the border or overstay their legal visas each year.

This policy of inflating the labor supply boosts economic growth for investors because it ensures that employers do not have to compete for American workers by offering higher wages and better working conditions.

Flooding the market with cheap, foreign, white-collar graduates and blue-collar labor also shifts enormous wealth from young employees towards older investors, even as it also widens wealth gaps, reduces high-tech investment, increases state and local tax burdens, and hurts children’s schools and college educations. It also pushes Americans away from high-tech careers and sidelines millions of marginalized Americans, including many who are now struggling with fentanyl addictions. The labor policy also moves business investment and wealth from the Heartland to the coastal cities, explodes rents and housing costs, shrivels real estate values in the Midwest, and rewards investors for creating low-tech, labor-intensive workplaces.

Story cited here.

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