The announced $100,000 price tag on H-1B visas is an astonishingly stupid policy that serves no purpose other than create yet another channel for rent-seeking through an anti-immigration mechanism.
There’s nothing to untangle here. No confusion over the underlying economics. No panic or fear mongering through false claims of violent crime. It’s blocking high skilled workers our economy is desperate for in hopes that the prospects of enormous damage will create yet another source of power that will lead to wealth being transferred from industry into the pockets of the administration.
It’s bad. It’s getting worse. It’s the first time I’ve experienced a steady stream of economic policy that there is no one to argue with because there is no earnest belief that this will improve social welfare. It’s just a grift.
The only thing that remains certain is that there will be a new version of this every week and month until they are stopped. I’m pretty sure I can just replace the details of the story, and then copy and paste the rest of this post going forward.
Economist Writing Every Day 
It’s hard to believe that our economy is desperate for high-skilled workers when they’re being laid off by the dozens of thousands.
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