Incorrect: By oversupplying labor, HB-1’s & related Visas drive down wages in big swaths of the economy. For example, take out the top 10 or 20% (earning) engineers, techies (including IT), and so on, and look again at wages for the rest. Add those driven out of their professions, causing a ripple effect in other areas...
Harvard is not a good example? Ok, fine: Who can afford to work their way through college, or (if parents) send their kids to college, even to a lowly 2nd tier State University, without financial aid? Say, Wichita State, just to pull a name out of the air. (Ok, they’re not 2nd tier in basketball anymore - heh-heh.)
Heck, who can sensibly afford an average price new car? (Now over $30k, not including taxes, etc.) Maybe 20% of the population?
I don’t think there’s much of a “ripple effect” from H-1Bs. We have 123,420,000 full-time workers and in 2012, we had 135,991 H-1Bs. That represents 0.1% of the work force or about 1 out of every 1,000 workers. It’s terrible for those people who lost out on those jobs but it still has a very small effect on the overall labor market.
If you want to talk about college tuition inflation, that’s obviously a big problem. I’m not sure if anything’s been inflated more. And we know that’s because the government subsidizes it to the extreme and the colleges keep raising tuition to soak up more of the easy money. They don’t have to compete on price because students and the government are willing to fund the tuition with massive loans, grants and debt.
As far as cars go, the price relative to median income actually has been falling since 1997 and is now down to what it was in 1979. This graph shows weeks of income needed to buy a new car. So, again, you seem to be coming up with stats off the top of your head without backing them up by research.
http://2.bp.blogspot.com/_DLIvw6mZGBU/SRDPkT-yq7I/AAAAAAAAAP0/OcJTOJF61lU/s1600/comerica.jpg
http://www.freeby50.com/2008/11/history-of-new-car-costs-and-average.html
