Greenspan on IT workers

September 14, 2008

Here’s this article where the main point is that Alan Greenspan is skeptical of McCain’s tax cut plan since it wouldn’t come with an similiarly sized budget cut. At the end of the article Greenspan address the issue of increasing income inequality in the US:

Greenspan said the widening income disparity among Americans is a “very serious” issue, and requires both raising the pay of lower-income workers and reducing higher incomes. “The best way of doing that is to remove what is essentially protectionism for those skilled workers in the United States who are helped by keeping out their competition,” he said, referring to the issue of “skilled immigration.”

The U.S. education system is “critical” to help “cutting-edge technologies” replace older industries that will be phased out over time, Greenspan said.

OK, so you open up worker visas and drive down the pay of professionals and is obviously talking about IT people and other technical white collar professionals. It reads as a desire to lift caps on H1B visas, among others.

Now I don’t see where this would also raise the pay of lower income workers except in relative terms.


One Response to “Greenspan on IT workers”

  1. raymondwberg Says:

    I agree with your assessment, and believe that his is very, very off-base. I’m an IT professional, or will be soon, and the reality of the matter is that the gap doesn’t start with us. I’m also very cautious when it comes to statements indicating that “people make to much”. I think the issue is the tax system now, and I believe it needs to be addressed before we move to even more destabilization in the technology field.

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