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They come up with these rules on a Saturday morning. If you’re a visa holder outside the country and you don’t return to the US by Sunday, you’ll be asked to pa

by pavlov 1y ago

They come up with these rules on a Saturday morning. If you’re a visa holder outside the country and you don’t return to the US by Sunday, you’ll be asked to pay a $100k ransom to re-enter the country where your life and work and children are. Amazing level of contempt for ordinary foreigners who came into the country legally. The inhumanity aside, the economy-related quotes from Lutnick and Trump are typically laughable. It’s hard to believe these guys are in charge: “[Lutnick] added that the revised program would filter out the ‘bottom quartile’ while generating more than $100 billion for the US Treasury. Trump further said that the revenue would be used to reduce national debt and lower taxes.” The US has a multi-trillion-dollar deficit. Even if they could somehow get a million H1B holders paying this huge sum, the income wouldn’t reduce the national debt because you’re still running a big deficit. It would just slightly slow the current growth of the deficit.

jvanderbot 1y ago
You're of course right on all points, but in the sense of HN, I'm required to point out that technically, reducing the deficit even a little does reduce the debt as a fn of time, so that the debt at any future time is lower than it would be.
jmpman 1y ago
Every dime paid by the H1B tax is a dime the US taxpayers don’t need to pay. The administration should go further and layer an additional tax on H1B’s income. That would reduce the amount the H1Bs take home. Excess pay in the tech industry is driving up real estate prices in the bay and Seattle. The excess pay is either spent on rent or remitted to the home country. Neither is beneficial to a US worker in the technology hubs.
- Irishsteve 1y ago
  Would that not be a slippery slope ? Tax foreigners more if on a h1b, but not foreigners on other work visas.
  - jmpman 1y ago
    I’m fine with taxing foreigners more if on other visas too.

by pavlov 1y ago

jvanderbot 1y ago

You're of course right on all points, but in the sense of HN, I'm required to point out that technically, reducing the deficit even a little does reduce the debt as a fn of time, so that the debt at any future time is lower than it would be.

jmpman 1y ago

Every dime paid by the H1B tax is a dime the US taxpayers don’t need to pay. The administration should go further and layer an additional tax on H1B’s income. That would reduce the amount the H1Bs take home. Excess pay in the tech industry is driving up real estate prices in the bay and Seattle. The excess pay is either spent on rent or remitted to the home country. Neither is beneficial to a US worker in the technology hubs.

Irishsteve 1y ago
Would that not be a slippery slope ? Tax foreigners more if on a h1b, but not foreigners on other work visas.
- jmpman 1y ago
  I’m fine with taxing foreigners more if on other visas too.