: Trump’s H-1B visa ban ignores foreign workers’ billion-dollar contribution to US welfare schemes #IndiaNEWS The Donald Trump administration has often blamed H-1B workers for stealing jobs from

Trump’s H-1B visa ban ignores foreign workers’ billion-dollar contribution to US welfare schemes #IndiaNEWS
The Donald Trump administration has often blamed H-1B workers for stealing jobs from Americans. But this myopic view ignores how much these foreign workers contribute to the US economy.As per a new study, an estimated three million H-1B visa holders contribute hundreds of billions to the US government programmes like social security and medicare – which they don’t even benefit from – and to local businesses and American companies.The study, conducted by immigrant-focussed financial services company Stilt, analysed transaction data from 3,336 loan applications of H-1B visa holders between January 1, 2019, and May 31, 2020.“There’s a great deal of focus on what immigrants [including H-1B visa holders] supposedly take away from the US, but the undeniable truth is that they’re building this country,??? wrote Frank Gogol, content manager at the California-based firm. “Whether it’s creating jobs and leading the charge in the development of new technologies that bolster the US economy, it’s H-1B visa holders doing the work.???Paying duesThe total annual income tax contribution from all H-1B visa holders currently working in the US is upwards of billion, according to Stilt. The average salary of an H-1B visa holder in the US is 8,100, so with a base rate of 24%, he or she pays ,344 in taxes each...Read more

Stock Market NEWS Best intraday tips Intraday Stocks below 100