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The problem with work Visas is they can be used for labor arbitrage and also the corporation controls the status of the worker. If the worker does anything (say organize labor :)) the employer does not like, the employer can fire the worker and have them deported.
Case in point is the H-1B Visa. Originally this Visa was designed to bring in expertise that one could not find in this country. Things like advanced degreed engineers with exceptional skills, scientists and so forth. But, what happened is they started using the H-1B for labor arbitrage and to replace American engineers at much cheaper prices. The worker under an H-1B is making 20% to 70% less than a prevailing American counterpart in the same job. They also are now claiming the MSc (a college degree given in Europe, Asia, India and so forth) is equal to a US Masters degree. It isn't, it's accredited as a US Bachelors degree. Unemployment in highly specialized fields has increased dramatically since 2001 and it's not the "Dot Con" bust, it's this and offshore outsourcing.
So, the question is do you wish to continue with cheap labor prices or raise the standard of living? Employer will go for the cheap price every time. Maybe some of those outrageous CEO bonuses would have to be cut in order to pay workers a living wage then.
I think it would be better to make legal (I have a "earned legal status" idea based on a set of criteria) illegal aliens already here than to pump out more worker Visas. The question is what is the unemployment rate in the United States really and a fear is that unskilled labor guest worker VISAs might be used to cut wages even below minimum wage. Corporations have already used illegals to significantly depress wages, in such areas as construction, roofing, housekeeping, meatpacking (this one is dramatic) and so forth. Some of these used to be high paying union jobs, now they are more of the "can't make the rent" jobs that the US is busy "creating" under the Bush economic system.
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