> That's not much higher than $60,000 Which means that about 35% of workers get "sweatshop" income of $60,000 or less.
Three things:
1) Many of those 35% are living in rent controlled housing which is a maybe $20k/year subsidy.
2) Its also about more than just income. Working 70-80 hours for $60k is very different from working 40 hours for $60k. (Or in the case of retirees working 0 hours for $60k).
3) Many of the working poor in San Fransciso are working in sweatshop conditions. Having to work 3 jobs, having to work 80 hours weeks, having very little job security or savings etc, just to get by is horrible.
> Are you suggesting that Indians have better working and living conditions in India than what they have when they come working to San Francisco?
Many of them? Yes. But it's usually worth it for them. The difference between our local market and most of India is incredible. The absolute pay difference is like 10x.
To put it in perspective: It's like if you could move to a very expensive location (Richville) and get worked like a dog, but they paid you $1.5 million/year.
Of course a house costs $20-$30 million. And sending your kids to a good school would set you back $500k/year. And you are having to share house with 4 other people you don't really like to afford the rent. And you have very little free time because of all the hours you work. Etc etc. But by living cheaply you manage to save 15% of your salary ($225k USD).
In Richville that isn't even enough to get your kid into a good school, but when you go back to the US you will be very well off.
> What is your solution to that?
Change the h1b system to be an auction based bidding system. That problem with the current system is you distort the local market and make the locals worse off.
> Median Income 25-44 $78,810
That's not much higher than $60,000 Which means that about 35% of workers get "sweatshop" income of $60,000 or less.