It’s all about wage depression.  You never hear this from Bill Gates or any of the others whining about needing more skilled workers so H1B Visas HAVE to be increased exponentially.

From Bloomberg News Greenspan spills the beans that has been common knowledge for years:

By Bloomberg News | March 14, 2007

WASHINGTON — Former Federal Reserve chairman Alan Greenspan said allowing more skilled immigrants to work in the United States would help keep the income gap from widening.

Inequality of incomes is the “critical area where capitalist systems are most vulnerable,” Greenspan said yesterday in Washington at a conference on maintaining the competitiveness of US capital markets convened by Treasury Secretary Henry Paulson. “You cannot have a system that we have unless the people who participate in it believe it is just.”

Allowing more skilled workers into the country would bring down the salaries of top earners in the United States, easing tensions over the mounting wage gap, Greenspan said.

“Our skilled wages are higher than anywhere in the world,” he said. “If we open up a significant window for skilled workers, that would suppress the skilled-wage level and end the concentration of income.”

Income inequality has risen in the past three decades.

Kathleen Newland, director of the Migration Policy Institute, a Washington think tank, said she was skeptical of Greenspan’s proposal. “In theory, increased skilled immigration should help contain wage rises at higher levels, but there is little empirical evidence,” she said. “If you want to reduce political concern, it would be better to deal with the problem by helping to raise the wages of the lowest earners, by helping to improve productivity and raising the minimum wage.”

It’s all about lowering salaries for skilled developers and programmers for the likes and ilk of Bill Gates.

I notice that Greenspan doesn’t mention CEO or executive level salaries. Government needs to keep it’s big fat nose out of salary determination for the skilled or professional worker just as it does for executives (who knows how long this will last with the Dhimmicrats in charge). Course the exec’s are the ones with the lobbyists so their salaries won’t change.  Although, if legislators continue on the path they’ve been on (Sarbanes Oxley) and increase corporate taxes maybe more corporations will move their headquarters out of the country (see Haliburton).

There’s no shortage of any type of skilled workers in this country – if the salary is right.  That salary should be determined by market demand, not H1B Visas or Green cards or illegal aliens which depress wages and salaries.

h/t Stein Report

Other CAII news:

President Builds relationship with Calderone….Brick…ow! by Brick…oof! from stikNstein

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