DLS getting all excited in regards to the Biden Boom:
- An overall spending package worth between $2-4tr will be proposed.
- It will focus on roads and green infrastructure.
- It will be funded by tax hikes for corporations from 21% to 28% and higher personal taxes for $4ook+ earners and higher capital gains taxes for $1m+ earners.
…and he is probably correct – it will trigger a staggering boom, for Corporate profits and immigrants, because they will be the ultimate and ONLY beneficiaries of this largess.
Why? Because of this:
- Under Biden’s immigration proposal all foreign students enrolled in U.S. universities will have the right to stay and work in this country for 10 years—and after that, they will be awarded green cards;
(TAKE THAT Australian Universities…. and Leith wonders where Aust Universities are getting these notions).
- In lieu of better working conditions or decent salaries, employers get to offer green cards to foreign students. And there’s no cap on these student workers;
- US Govt will subsidize employers who hire foreigners over Americans;
- Companies don’t pay payroll taxes on their foreign student employees, saving them more than 8 percent per worker!
- Raising diversity visas – yes, diversity visas! To increase intake from nations that have previously had little cultural influence or migration to America from 50k to 80k.
Why? Because ‘Why not?’ More diversity and fracturing of social consensus is always better than less;
For the moment Trump’s working visa restrictions remain in place and the immigration pump is cloaked as foreign students (just like Australia), but Biden and his backers are itching to roll those reforms back as well – the slightest uptick in the economy or wages will see the cry of ‘skills shortages’ go up and in a flash the migrant mobs will be back. How do we know? Because every other immigration category other than outright working visas have already been pumped back up to the max:
“The State Department issued nearly 290,000 fewer immigrant visas in the categories that the ban targeted during the year that it was in effect. If they are not from a country on which Biden has imposed a countrywide entry ban—mostly Europe, South Africa, Brazil, China, and Iran—these immigrants will now be able to immigrate to the United States. This is great news for them and for the Americans with whom they plan to associate.” [Stewie: i.e. US corporations]– Cato Institute
When DLS first started wanking on about the Biden Boom I agreed that it would be possible, but I stated the boom would be in Company profits and immigration, there will be ZERO real wage growth for existing Americans.