Archive for February 22nd, 2013

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Four senators, including High Tech Senator Orrin Hatch, have proposed letting more and more high tech workers come into the United States so that they can further depress wage rates in their fields. That’s the truth because reality is something different from the world of high tech employers and their legislative servants in their war against the American middle class. According to the Economic Policy Institute,

“The bill’s proponents argue that for the sake of our global competitiveness, we shouldn’t train and then return the tens of thousands of Chinese and Indian students who come here every year. But almost 90 percent of the Chinese students who earn science and technology doctorates in America stay here; the number is only slightly lower for Indians. If they’re talented enough to get a job here, they’re already almost guaranteed a visa.

If anything, we have too many high-tech workers: more than nine million people have degrees in a science, technology, engineering or math field, but only about three million have a job in one. That’s largely because pay levels don’t reward their skills. Salaries in computer- and math-related fields for workers with a college degree rose only 4.5 percent between 2000 and 2011. If these skills are so valuable and in such short supply, salaries should at least keep pace with the tech companies’ profits, which have exploded.”

This bill Wall Street Senator Hatch is proposing is another in a long line of legislation that has been passed to suppress wages in the United States. The difference between the old wages and the new lower wages, and the difference between what the wages should be and what they will be, will go straight into the pockets of the 1 percent via higher CEO pay, soaring profits, surging dividends and rising stock prices. In other words, like Wall Street Senator Ron Wyden, Hatch and his three conspirators are waging war against the middle class on behalf of Wall Street and the 1 percent by proposing legislation that will redistribute income from the 99 to the 1 percent.

Check out the op-ed with greater detail below.

Op-ed by Ross Eisenbrey of the Economic Policy Institute

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