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Biden should give American workers a fighting chance
Daron Acemoglu
Photo: AFP file
Capital has always been taxed more lightly than labour has in the United States.
The first months of US President Joe Biden’s administration will be defined by the efforts to contain Covid-19 and deliver vaccinations on a mass scale. Over the medium term, however, the economy will determine the administration’s success. Here, Biden has indicated that tax reform will be a high priority, and he has released plans to address long-running fiscal problems such as federal government revenue shortfalls and the tax system’s loss of progressivity. But these proposals do not yet go far enough to address a major fault line in the tax code: the excessively favourable treatment of capital income (profits and returns on financial assets and savings).
Explained: What Are H-1B Work Visas, Requirements, Old Lottery System, And New Wage-Based Rules?
Once again, the US administration amended the H-1B visa norms by changing the rules to give priority to higher wages and skills for the selection of deserving candidates. Representational Image Outlook Web Bureau 2021-01-12T07:12:07+05:30 Explained: What Are H-1B Work Visas, Requirements, Old Lottery System, And New Wage-Based Rules? outlookindia.com 2021-01-12T09:06:55+05:30
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Once again, the US administration again amended the H-1B visa norms by changing the rules to give priority to higher wages and skills for the selection of deserving candidates. The old lottery system of work visa selection will not be followed now.