In the video above, in 2009, Bill Gates testifies that the United States needs more foreign high tech workers. He wants more of the “best and the brightest” from around the world to come to the United States and take jobs from US citizens, who are often forced to train their H1B Visa replacements.
Gates testifies that we should allow an “unlimited amount” of H1B immigrants. What Gates doesn’t mention is that wages have been stagnant in the US high tech industry since 1990. At least one study shows that 2/3rds of US high tech workers were unemployed in their field, as of 2012.
That’s precisely why Gates wants “unlimited” H1B visa recipients. The more the merrier for the bottom line of Microsoft. Reducing wages by increasing the labor supply increases corporate profits, share prices and dividends. This benefits the 1 percent at the expense of the 99 percent who are trying to make a living in the high tech sector. That’s the real story in a nutshell for the position of Bill Gates.