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The immigration debate in our country has been dominated by huge corporations who want more (and cheaper) workers and by liberal advocacy organizations who want America to take in as many people from developing nations as possible, partly for humanitarian reasons and partly to drive up the voter rolls for the Democrats. These dueling interests have dominated for decades and led to a permissive system with a large influx of new immigrants, both legal and illegal. In response, conservative voices have pushed back on what they see as overly open immigration policies. Lost in this policy debate is what we should really be focused on: what’s good for America. Big businesses want to bring in as many new workers as they can. Expanding the workforce allows workers less leverage on wages and benefits. This system may lead to greater economic output overall, but there is a strong case to be made that it harms American workers, especially those at the bottom of the labor pool, where an influx of unskilled workers has caused wage stagnation. America’s current H1B skilled visa system is a complete giveaway to corporate America, primarily big tech. We bring in skilled foreigners only when a company sponsors them. The system then keeps many of these workers in a legal limbo, often for decades. That whole time they are... https://t.co/RwzFk2kwLz — Neil Patel (@NeilPatelTDC) December 27, 2024 Liberal activists want to take in as many immigrants as they can, and you don’t have to be a cynic to see the political angle of this policy. An influx of new immigrants has already turned California from a decidedly red state to a strongly blue state, although recent trends show this strategy may be backfiring . In recent years, the permissiveness on immigration has advanced from advocating for more legal immigration to openly favoring illegal immigration. We are now at a point where the majority of Democrats who ran in the party’s last presidential primary raised their hands in favor of completely decriminalizing illegal border crossings. The standard Republican response has been to focus on skilled immigrants. The line you hear most often is to “staple an H-1B visa to every science and technology degree” earned by foreign graduates in American universities to keep these new workers in our country. The final camp in the immigration debate believes our country has had an overly permissive immigration system for too long. This camp wants to both shut down our borders and curtail or stop legal immigration until we get things under control. All of these camps have it wrong on immigration, especially when it comes to skilled immigration. There is a better way. Somewhere in the world today are the next generation’s brightest young scientists. A bunch of them are in America, but many are in other countries, especially India and China. It’s in America’s interest to bring as many of these people as possible into our country. Other countries know this. They have a name for it: “brain drain.” This brain drain — the loss of a country’s best and brightest to places like America — is one of the biggest policy challenges for poor countries around the world. For the sake of America’s future prosperity and status as the world’s most innovative and prosperous country, America should be working on policies to promote it. When a worker comes to America on a temporary H-1B visa, they are tied to the American company that sponsors them. Because of the huge backlog we currently have for these temporary immigrants to gain permanent status in America, these highly skilled workers can stay tethered to an American employer for decades. During this time, they can’t change jobs, their spouses often can’t work and their children can be subject to deportation as soon as they turn 18. The end result of this system is an unfair competition for jobs between American workers and this indentured class of highly skilled immigrants. A big company will always prefer to hire an essentially indentured immigrant who can’t afford to push for better pay or benefits. This current system is ripe for abuse by bad actors like Disney or AT&T Inc., who have been caught recruiting temporary H-1B workers to replace Americans, or by Indian consulting firms that have entire business models built to take advantage of temporary, indentured foreign tech workers. The answer to this problem is not to stop bringing skilled workers to America. If they don’t come to the United States, they can go to Canada or New Zealand, where there are policies in place to actively recruit them . Given the improving conditions in their home countries, these immigrants are also increasingly deciding to forego the American dream and just stay home. (RELATED: America Doesn’t Need More Nerds And Foreigners To Start Winning Again) The real answer is to scrap our broken system. We should better identify and recruit the world’s most talented people. But when we find them, we should bring them here with all the same rights we give to Americans. Doing this will prevent American workers from having to compete with workers with fewer rights. Most importantly, an immigration system that better targets talent and then allows that talent to come to America with the same rights as American workers would incentivize the best to keep coming here, keep inventing here, keep starting companies here and keep the American dream alive.Russia's central bank has left its benchmark interest rate at a record 21%, holding off on further increases despite high consumer inflation fueled by the Kremlin's war against Ukraine. The decision Friday comes amid criticism from influential business figures, including tycoons close to the Kremlin, that high rates are putting the brakes on business activity and the economy. And it underlines the ongoing friction in the economy between military spending and stable prices for consumers. Central Bank of Russia Gov. Elvira Nabiullina said that lending to companies had tightened more than expected due to the October rate hike that brought the benchmark to its current record level. The central bank held open the possibility of an increase at its next meeting and said inflation was expected to fall to an annual 4% next year from its current 9.5%. Factories are running three shifts making everything from vehicles to clothing for the military, while a labor shortage is driving up wages and fat enlistment bonuses are putting more rubles in people's bank accounts to spend. All that is driving up prices. On top of that, the weakening Russian ruble raises the prices of imported goods like cars and consumer electronics from China, which has become Russia's biggest trade partner since Western sanctions disrupted economic relations with Europe and the U.S. Russia’s military spending is enabled by oil exports, which have shifted from Europe to new customers in India and China who aren’t observing sanctions such as a $60 per barrel price cap on Russian oil sales. High interest rates can dampen inflation but also make it more expensive for businesses to get the credit they need to operate and invest. Critics of the central bank rates and of Nabiullina have included Sergei Chemezov, the head of state-controlled defense and technology conglomerate Rostec, and steel magnate Alexei Mordashov. Russian President Vladimir Putin opened his annual news conference on Thursday by saying the economy is on track to grow by nearly 4% this year and that while inflation is “an alarming sign," wages have risen at the same rate and that "on the whole, this situation is stable and secure.” Putin acknowledged there had been criticism of the central bank, saying that “some experts believe that the Central Bank could have been more effective and could have started using certain instruments earlier.” Asked what decision the Central Bank was going to make on the rate, Putin said that Nabiullina didn’t tell him what the rate will be. “She may not know it herself yet as they discuss it during the board meeting and make the final decision during discussion,” he said. “I hope that the decision will be well-balanced and conform to today’s needs.” Putin is in a difficult situation because he needs to keep the economy growing and ensure social stability, said Alexander Kolyandr, senior fellow at the Center for European Policy Analysis. “And inflation is not a good recipe for keeping society stable. On top of that he needs to wage his war, and there are not enough resources in the state to meet all three” goals - growth, stable prices, and military spending. Nabiullina “doesn’t care much about pressure from business people,” Kolyandr said. “She is quite independent and she knows that she has Putin behind her. But the overall slowing down of the economy definitely played a role.” The central bank has in the past month turned to other ways of tightening lending to cool inflation such as by imposing stricter credit standards and regulatory requirements on banks. “Whether that was successful or not, we’ll see next year. But for the moment it gave Nabiullina an opportunity to keep the rate unchanged, to please the industrialists, politicians and President Putin himself, and just sit and wait. “I think the chances of the rate going up at the next meeting are pretty high.” The bank next holds a policy meeting Feb. 14.
Travelers may face yet another 'tourist tax' when visiting certain cities
World News | Israeli Troops Forcibly Remove Staff, Patients from Northern Gaza Hospital, Officials SayA 9th telecoms firm has been hit by a massive Chinese espionage campaign, the White House saysA state Route 36 improvement project near Hydesville and Carlotta has received more than $15 million in federal funding from the California Transportation Commission. The funding comes from the Infrastructure Investment and Jobs Act of 2021 and will be used for roadway and guardrail improvements, including the extension of a passing lane and a new bridge at Ward Creek. Construction on what is being called the Carlotta shoulder widening project is estimated to begin in late spring or early summer 2025 and will improve the safety of a two-mile stretch of state Route 36 from west of Fisher Road to west of Wilder Road. The new 60-foot wide, 45-foot-long bridge at Ward Creek will replace the current 60-foot long, 10-foot-wide culvert at that location, which is a barrier for fish. “The project upgrades along state Route 36 go beyond fish passage,” Caltrans Humboldt and Del Norte counties spokesman Myles Cochrane said. “With wider shoulders, additional rumble strips and improved curves, we’re building a safer, smoother drive for everyone in this area,” he added. The changes will also enhance visibility and also reduce collisions. The improvement project was initiated by a traffic investigation report which found that between 2013 and 2017 there were 31 collisions on this stretch of state Route 36, from mile post 3.0 to mile post 6.0. Of these collisions, seven involved fatalities and 16 were injury incidents. This project has been in discussion for several years. “We really appreciate all of the great feedback we received about this project during a 2022 public meeting,” Cochrane said. “The community was engaged and excited with us about improvements for this beautiful area.” Once construction begins, the goal is to be complete by the end of 2026. “Well keep folks in the loop if there are changes,” Cochrane said. He added that progress on Caltrans projects can be found on social media and the Caltrans website.
Commentary: Is parting with cash more ‘painful’ than paying by card?Subsplash Acquires Pulpit AI, an Innovative Platform Leveraging AI to Help Streamline Content Creation & Boost Sermon Engagement for Churches
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