Meanwhile, Trump: India is a dead economy.
It is inevitable that this happens. H1B workers already cost more on average, and were a lot more expensive once you count the legal fees and lawyer costs and all that. Now the new 100K fee just makes it too expensive to be practical.
So America is left with a choice. Let companies hire workers in other countries, or enact new barriers for that. But that’s no different than arguing for tariffs, a tax on consumers. And those countries may just remove market access for those companies.
But the real fix is to have much more aggressive taxation of the ultra wealthy within America to fund UBI, healthcare, education, etc. Inequality is getting out of hand. Musk is literally worth over 700B. And the mega corp are worth over a trillion now.
