FAANG employees here are cheap to hire. They work very hard to remain rich or become rich from nothing (50-60LPA will basically make you rich in 5-6 years if you save and invest well). Leetcode grind and competitive problem solving is Indian childhood bread and butter these days. And given how much househelp exists in India this kind of model is perfectly suited to be outsourced to young and middle aged Indians who have virtually no life beyond CTC anymore.
I’m just surprised it took them this long to outsource.
The risk of course is people start their own companies learning from big tech and Indians get more UPI like tech.
If the Democrats were smart (they are not) they could landslide next election (and 5 more) by running a simple campaign, “Americans First,” the core of which would be to slap 1000% tax of any job which is outsources. Your company wants to hire someone from X, for every dollar paid in salary you have to pay $100 to the IRS.
The funny thing is that this same 60LPA person will happily take a 300k job (assuming parity) with a 50% tax cut because the standard of living is still quite high in maybe Atlanta or Pennsylvania compared to Hyderabad or Bangalore.
In the above scenario the federal government is collecting zero taxes for the employees and the shareholders are getting richer.
By cutting H1Bs the Americans are actually losing money by outsourcing jobs and creating a larger divide between the rich and the poor. Something that the rich actually don’t have a problem with and something people just seem to miss.
FAANG employees here are cheap to hire. They work very hard to remain rich or become rich from nothing (50-60LPA will basically make you rich in 5-6 years if you save and invest well). Leetcode grind and competitive problem solving is Indian childhood bread and butter these days. And given how much househelp exists in India this kind of model is perfectly suited to be outsourced to young and middle aged Indians who have virtually no life beyond CTC anymore.
I’m just surprised it took them this long to outsource.
The risk of course is people start their own companies learning from big tech and Indians get more UPI like tech.
If the Democrats were smart (they are not) they could landslide next election (and 5 more) by running a simple campaign, “Americans First,” the core of which would be to slap 1000% tax of any job which is outsources. Your company wants to hire someone from X, for every dollar paid in salary you have to pay $100 to the IRS.
The funny thing is that this same 60LPA person will happily take a 300k job (assuming parity) with a 50% tax cut because the standard of living is still quite high in maybe Atlanta or Pennsylvania compared to Hyderabad or Bangalore.
In the above scenario the federal government is collecting zero taxes for the employees and the shareholders are getting richer.
By cutting H1Bs the Americans are actually losing money by outsourcing jobs and creating a larger divide between the rich and the poor. Something that the rich actually don’t have a problem with and something people just seem to miss.
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So are you saying that no multinational company ca have employees overseas?
This is really a poorly thought out proposal.
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then they'd immediately create an indian subsidiary, Google SEAsia, and the hire through them
that's what many do anyway
there could be a tax on offshoring in general but good luck getting that passed, or enforcing it