The plan is not as he presented it. It doesn't make sense that guest workers would have to leave to renew when illegals don't have to leave to apply, and a clear reading of the language from the White House site doesn't support the contention.
Consider that if there are 10 million illegal aliens and say half were to become guest workers. What happens to the other five million? We're already told that we can't find them, and the guest worker program would change nothing in that regard. If the Bush plan went through how would you enforce the law against the five million illegals who just saw half their number legalized?
The odds are that those other illegals would stay put while waiting for an amnesty of their own. Why would they leave?
Now consider foreign nationals in their home countries who are watching all of this... half the illegals get amnesty, and half go on as they were. If a foreign national can't get accepted into the guest worker program from their home country, what disincentive would they have from becoming the next batch of illegal aliens? Everything about the Bush plan would reward and condone illegal aliens.
You are incorrect. Furthermore, if the only way that you can argue is by making such outrageous mischaracterizations, then you must not be in the right.
If you can't make your point by telling the truth, then you aren't making an argument so much as a propaganda piece.