"Only dull people are brilliant at breakfast" -Oscar Wilde |
"The liberal soul shall be made fat, and he that watereth, shall be watered also himself." -- Proverbs 11:25 |
In other words, all we need to do is fine tune a system already in place. We could raise the minimum wage a little more often, and let in a lot more H-1B visa holders to lower everyone else's wages. So much the better if raising the minimum wage increases the unemployment rate, as many claim.Greenspan said the widening income disparity among Americans is a "very serious'' issue that requires both raising the pay of lower- income workers and reducing higher incomes.
"The best way of doing that is to remove what is essentially protectionism for those skilled workers in the United States who are helped by keeping out their competition,'' he said, referring to the issue of "skilled immigration.''
The U.S. education system is "critical'' to help "cutting-edge technologies'' replace older industries that will be phased out over time, Greenspan said.Greenspan does not come out and say it, but to me, the meaning is clear. Bring in foreign students to study in the STEM fields (Science, Technology, Engineering, Mathematics), subsidize their tuition, and pay them lower wages after they graduate from school.
Labels: H-1B, income inequality