Trump’s $100K Visa Fiasco: Immigration Policy No One Understands

(00:00.792)

We have ourself a immigration and visa fiasco. Yeah. Anyway, I did a podcast on this a couple of days ago and tried to outline what the new rules are. If those rules stick. I don’t even know, quite frankly. I got that information from the press secretary of the United States. Again, Howard Lutnick is… he’s shooting from the hip!

No one knows what’s going on here. So we get this new hundred thousand dollar fee that Lutnick did propose. He brought in Lutnick brought in a bunch of anti immigration, anti visa groups to basically sell them on this idea of a one hundred thousand dollar H1B visa. OK.

He’s trying to win them over, win them over because he’s been trying to basically sell them on this new Donald Trump gold card. This gold card, which would provide a path to citizenship for wealthy foreigners willing to pay $1 million. Yeah, some of these anti-immigration groups, that’s paid.

play. didn’t like it. Lutnick said that it would actually reduce immigration, but then he brought up this huge fee H1B visa program. Again, they were warming up to it. Again, they announced it, announced it at the White House. They weren’t clear on what it meant. And Silicon Valley had a collective freak out.

(02:01.43)

Yeah, I’m talking, know, Nile Rodgers, Le Chic freak out. Yeah, they freaked out. Again, they called up, you talk about, know, who they hire and the volumes, it’s just a of Silicon Valley companies hiring people with H1B visa problems. Again, this is part of the issue. You’ve got a lot of Trump’s political base that wants to just shut…

the border, throw everybody out, no immigration at all. And then you also have CEOs that write big checks. And again, they can pick up the phone and they can call the president at any time. again, you got two conflicting forces that have influence within the Trump administration. Okay. The meeting that Lutnik, Trump’s little dummy, I mean, dummy, he’s like a little ventriloquist.

He sits on Trump’s lap and says what Trump wants him to say. He said that the annual fee would be annual. And he actually said it’s standing next to the president. Then they walked it back. They also threw the anti-immigration group won’t send it. They would suspend all other green card categories outside of the gold card.

path. But then, you know, someone raised their hand and said, Wait a second here. What about, you know, green cards for spouses of US citizens? And he didn’t even understand that. It was like, good point and made a note. again, I don’t know what they’re going to come up with when it comes to this. And I know what the right answer is. I do know that

We need to have workers come into the country. don’t know necessarily what the need is exactly for H1B visas. These are higher level jobs, higher paying jobs. The issue that constantly comes up is, well, they’re bringing these immigrants in from India. I don’t like the idea. The companies basically, you serve at the pleasure of the company you’re working for.

(04:27.192)

They don’t like you, you gotta go home. They’re gonna send you home. I don’t have really understood that. I’ve always understood that, you know, if we need immigrants here into this country, we’ll bring in immigrants and, you know, we’ll turn them into American citizens. The idea out there that all these H-1B visas, they are going to depress wages, it’s…

concern obviously because of the status that they have. Again, I’ve covered horrible stories where American corporations, and again, I’ll be honest, this is why I can never be a publicly traded company. I can never do such a thing. I gotta save a few bucks here and there. We’re gonna fire all of these workers that are American and we’re gonna import all of this labor from India.

CEO of company. Well, I got to do what’s the best interest of my shareholders. I couldn’t do it. I couldn’t do it. Some people could. Anyway, neither here nor there. How many do we actually need? Are these jobs that Americans will take? Will Americans do these jobs? Do we actually have the Americans that will do them? Now I’ve talked about the high level of unemployment for recent college

grads are they qualified to do this? Again, I want to remind everyone that 53, 54 % of the country reads at a sixth grade level.

reads at a sixth grade level. We have covered over the past several weeks, well forget about it, we’ve covered for the past several years, past several decades, the failing, the reality of failing American schools.

(06:28.478)

We have people that can actually do these jobs. I don’t know. I don’t know. Do we have to import them? Because the issue is going to be if these companies feel like they can’t get their workforce, could be me calling me crazy, they’re going to start opening up shop in other places around the globe. It was interesting. My early ride into the

The gym was like 4, 415 in the morning was it two days ago. I had, you know, one of the overnight programs I’m listening to on CNBC and a guy from Europe is talking about, Hey, you know, we may be able to attract more business here to Europe quality of life. Not to mention the fact we’re willing to take in some of these immigrants that will do this stuff. That’s going to be an issue.

Companies will adjust. They will change things up. Overall, the American people, it’s the latest polling done from the Associated Press. Americans are more likely than they were back in March of 2024 to say it’s a major benefit that people who come to the US legally contribute to economic growth and help American companies get the expertise of skilled workers.

A survey also shows that Americans are less likely than they were in January to say the number of illegal immigrants to the US should be reduced. Okay. I want to be perfectly, perfectly clear right now.

There’s a right way and a wrong way to do immigration. We get caught up in politics. don’t, again, I think that there’s enough people that would love to come to the United States that we can bring in the best and the brightest and also say, hey, you know what? You assimilate, you learn the language, you pass the citizenship test, you do all of these things. I have a really big problem with slave labor.

(08:42.638)

I do. I don’t know about you, but I got a big problem with slave labor. I don’t think we should be bringing in an underclass migrant workers, these nonsensical visas, any of this stuff. Why? Why? Well, all that’s gonna do quite frankly is it’s just going to lower wages for everybody. If you’re gonna bring people in, if we need workers who are gonna come in, shouldn’t everybody have to compete on a level playing field?

That makes sense. We don’t have that now. Again, these H-1B visas are a problem, but there’s the other visas as well for seasonal workers. Again, people that are in the hospitality industry have very, very difficult time finding workers to staff their hotels on Fire Island and Long Island and the Hamptons and a myriad of other places. These are things that need to be dealt with. Again, there’s a compromise that…

could be had. There really is. It’s a matter of whether or not they’re willing to have it. Watchdogonwallstreet.com.