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You do realize the reason your engineering degree is worth less money is many of your engineering jobs have been sent to India and companies that haven't moved them to India are bringing in engineers on H1B Visa's at cheaper wages?

Likewise many doctors and hospitals are sending tests and x-rays off to Pakistan and India to be read vs paying a radiologist here in the USA to do the readings -- and the people doing the reading in those countries may not have the same level of education as the radiologist here in the States. Also... hospitals sending billing (with your ID number) off to Pakistan for billing is quite common these days. Recently a person over there decided she wanted a raise and held up a hospitals records until they gave her the large raise... something that if I did here in the States would be a crime, but was legal being done by someone overseas.

I work in an export-controlled industry (defense) so I am relatively secure in my future work here in the US, but H1Bs certainly lower the wage of others within my expertise outside of my industry and that ultimately affects my salary. Hopefully, the US will never be so foolhardy as to trust our national defense to outsourcing, but I have seen evidences of this and am not really so sure anymore.