If You Like Your Job You Can Keep It – NOT!

Published on December 7th, 2013

The “Affordable Care Act” is raising many questions and the blood pressure of many Americans who have discovered that, because of this flawed legislation, they are losing the healthcare insurance and/or their doctors even though they were happy with both. So much for assurances by the administration and our leaders!

Comprehensive Immigration Reform (CIR) might not be an issue for the current session of Congress; however, it is as likely to be back when Congress reconvenes as the sun is likely to rise in the east tomorrow. Therefore it is critical to understand the truth about this hotly contested legislation.

What is never discussed is how Comprehensive Immigration Reform would actually impact American workers and their families. Advocates for CIR use a variety of intentionally vague phrases that obfuscate the truth. When have we seen this before?

CIR would actually lower wages of Americans who would be fortunate enough to keep their jobs, not only those at the bottom rung of the economic ladder, but also those who are highly educated and highly skilled who comprise the middle class. Already highly educated and experienced Americans have lost jobs to foreign workers.

Two years ago, “Dan Rather Reports” focused on the practice of American companies such as Microsoft firing their American IT workers, replacing them with IT worker from India in an eye-opening, hour-long program.

In his report, Rather noted that the DHS has no real idea of how many foreign workers with H-1B visas are currently working in the United States. Estimates, according to Rather, range from 600,000 to one million. CIR would exacerbate this problem many times over. It would provide millions of illegal aliens with the lawful right to work in the United States, putting them on an equal footing with American workers.

Also, CIR would roughly triple the number of H-1B visas for high-tech workers and, for the first time, provide the spouses and adult children of H-1B visa holders with Employment Authorization Documents (EADs). These documents enable the aliens to whom they are issued to take any job in the United States that they have the ability to do, irrespective of the detrimental impact on American workers.

Labor is a commodity. The price of commodities is established by the principles of supply and demand. Flood the market with a commodity, and the price of that commodity decreases.

Here is how Alan Greenspan, former chairman of the Federal Reserve, laid out his goals for immigration when, on April 30, 2009, he testified before the U.S. Senate’s Subcommittee on Immigration:

…The second bonus (in accelerating the influx of skilled immigrant workers) would address the increasing concentration of income in this country. Greatly expanding our quotas for the highly skilled would lower wage premiums of skilled over lesser skilled. Skill shortages in America exist because we are shielding our skilled labor force from world competition. Quotas have been substituted for the wage pricing mechanism. In the process, we have created a privileged elite whose incomes are being supported at non-competitively high levels by immigration quotas on skilled professionals. Eliminating such restrictions would reduce at least some of our income inequality.

It is outrageous that Greenspan disingenuously referred to the wages of middle-class American workers as including a “wage premium” that, according to Greenspan, enabled American workers to become a “privileged elite!” What he was really saying is that CIR would slash the wages of Americans who would have to compete with foreign workers for their jobs. And in order to compete, Americans would have to accept far lower salaries.

It was Greenspan who was instrumental in providing disastrous subprime mortgages for illegal aliens and others, many of whom ultimately defaulted on those loans, contributing to the economic meltdown in 2008. (Read more about Greenspan’s legacy at “Greenspan's Folly: The former Fed chief's culpability in Wall Street's woes” and “Financial Crisis Panel: Bank Meltdown Could've Been Avoided.”)

On April 8, 2005, Greenspan addressed the Federal Reserve Board at the Federal Reserve System’s Fourth Annual Community Affairs Research Conference, Washington, on the issue of “Consumer Finance.” His prepared statement contained his strong advocacy for the issuance of disastrous subprime mortgages that were provided to illegal aliens and others:

A brief look back at the evolution of the consumer finance market reveals that the financial services industry has long been competitive, innovative, and resilient. Especially in the past decade, technological advances have resulted in increased efficiency and scale within the financial services industry. Innovation has brought about a multitude of new products, such as subprime loans and niche credit programs for immigrants.

Now the administration and members of both parties are once again following his advice. Wasn't one Greenspan-engineered catastrophe enough? Even as America struggles to undo the damage done by Greenspan's influence and monetary policies, the administration is implementing his immigration policies that, if codified by Comprehensive Immigration Reform, would be irrevocable.

“Fool me once, shame on you; fool me twice, shame on me!”

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