Thread: Greenspan: Let more skilled immigrants in

Greenspan: Let more skilled immigrants in

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

http://www.boston.com/business/globe/ar ... grants_in/

It's funny that these people never suggest importing CEO's to bring down the 500:1 wage gap there.

Sounds like someone called in a favor to get him to chatter live about this issue. They are just pulling out all of the stops.

Isn't Greenspan like 100 years old and wont be around putting up with the repercussions of importing more illegal aliens?

He's talking about erasing the middle class and making them impoverished. Sounds like a recipe for the Commie Oligarchy.

Dixie

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.

That is the most ridiculous, crazy rationale I've ever heard. Isn't it the American way for people with exceptional skills, that have worked exceptionally hard to earn more? Are we to solve our problems by working toward mediocrity?

Thought the H1B Visas were to fill the gaps in our shortage of high-tech workers...now we know the truth, it's to move us on the way to socialism.

Why doesn't Greenspan just stay in retirement? He's making a fool of himself...

So, he is talking about a central gummint plan to flood the higher end of the labor market in order to harm American workers and reduce them to a lower status. We always knew that our 'leaders' viewed us as herds of cattle and sheep to be managed, this proves it again.

Besides, high level workers are not the ones concentrating the wealth. It's the investment class who's doing that.

Our politicians, like always have been lying from the beginning, they felt by insulting us saying they're replacing us because we're to lazy to work, that it would embarrass us and rob us of our self esteem enough that we'd back down and shut up. The only truth I read came from a Mexican news article. It said Mexico was upset with Bush because he wasn't keeping his part of the bargain to make sure Mexicans took all labor jobs away from Americans to bring Americas wages down. That as long as our wages are higher than Mexicos, Mexicans will continue to migrate.

Now Greenspan is being truthful. Apparently theres been enough success in replacing millions of our lower wage workers, he thinks it's time to replace our middleclass. That's what they think will finally cause all Americans to beg for a welfare state, namely socialist/communist rule. We have forces from every angle working hard to pull us down. They are trying to kick down every door, break every window, break every bone and sever every artery in America. They are determined to crush the USA.

The only thing I can say is they have all gone PLUM FRIGGING CRAZY!!!!How can they even think these things up!!

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http://www.alipac.us/modules.php?name=N ... e&sid=2015

I have said they are not happy with the illegal aliens taking all the low skilled jobs from our children and our poor, they want the middle class and upper class jobs as well. Driving down wages, is the guy nuts or what? Most people are barely making it on their wages now. Let us import thousands of skilled workers to take the rest of the american jobs. These companies do not care about american workers they care about getting cheap labor. And talking about quality of work, where have you seen the quality of service or production rise by hiring illegal aliens? Gimmee a break

We know exactly what will happen if Greenspan and his buddies try out their theory because it already happened in IT. People got training, degrees, and certs for what - at the time - was a decently lucrative and prestigious career. Suddenly the dot com bust came AND the H-1b cap was about doubled to 200K at the same time, and stayed high until mid 2003 if memory serves. IT as a career got knocked down for the count, and now that it is showing mild signs of life again, we have a push for unlimited visas. Then the powers that be blame us, and yell at our kids for not majoring in computer science and related fields. Of course not. Why should they?

The next time it won't just be the nerds suffering. Already, if you stroll through the LCA database, you'll see that they're branching out - lots of 'business analysts' for example. They'll be coming for almost every job that has halfway decent pay, and lowballing and displacing us. You have student loans to pay off and a 30 year mortgage? Too bad for you.