Saturday, July 2, 2011

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  • Macaca
    04-08 05:24 PM
    I will not get time to read the bill. Please let me know if I am correct on the following and/or I have missed something important. Thanks!

    1. More stringent conditions on hiring H1B.
    2. H-1B employees can not consult: outplacement at client site is illegal.
    3. Company can not have more then 50% H-1B employees.
    4. More stringent checks by DOL when H1B is employed.
    5. H1B extension has to go through LCA (applicable to persons already on H1B).

    Further, it may be implemented arbitrarily (unspecified parts) by USCIS.




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  • wellwishergc
    07-11 11:48 AM
    Please ignore my previous posting! I saw in one of the earlier postings that you are approved. Congratulations and Best wishes! and welcome back to this forum; Please help us here whenever you can.

    Thanks!
    Is your GC approved now?




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  • gc4me
    08-06 10:38 AM
    Very well said obviously! But whatever we think about Mrs. Rolling Flood, she already got her lone fan SunnySurya who PMed her his/her phone number. :rolleyes:
    Sure they will have good time in coming weekend.
    We are here guessing whether RF and SS are girl-girl or guy-girl or guy-guy?:confused:

    Rolling_Flood,
    If you are willing to take action, I am with you. Don't worry about what other people are saying, it does not matter. A man got to do what he got to do.
    Let us start with taking some legal opinions. I am willing to share the cost.
    I also beleive (and firmly so) that the PD porting among categories should not be allowed.
    I am sending you my phone number in PM. Call me when you are ready and we can discuss more. Alternatively, give me your phone number as I definitly want to follow through.
    Thanks
    Sunny

    started by a guy/gal who possibly spent the formative years of his/her life buried in text books because mama/papa wanted him/her to crack the JEE and get into IIT... possibly feted with flowers on his/her trip to the US...after lying on the F1 visa interview about intent to immigrate...and now seeking to raise a hue and cry because the protectionist sense of entitlement is being challenged by law abiding immigrants...someone that is obviously closeted in perspective...

    obviously, a spoilt child crying sour grapes... the admins did not sweep anything under the carpet... they let this thread grow to 13 pages! obviously, you are someone that is unhappy with a lot of things. stop hurting yourself. you might invite a myocardial infraction given the rate at which you seem to be stressing out... there is no EB3 (majority) vs. EB3 (minority) issue... stop raking up more BS... enough is enough... someone has to have the b*lls to tell you that the world is bigger than you and your inflated sense of self worth and entitlement...got it?

    i still dont see the EB2 job posting for this #1 guy/gal in a #2 company... what a #3 (third rate :)) poster with a #4 (fourth degree) threat that started this all... i can help your company find a qualified US citizen for YOUR EXACT JOB... go ahead, do post that... scared to do that? :)... obviously you are!!!! Ha! Ha! Ha!

    PM me and I can help your company. No, I am not a body shopper and wont take commissions, thank you. Just thought I'd help a US company not have to deal with this immigration BS, so they can let you go and hire a US citizen instead. Seriously, I call that social service.

    While I am at it, I can also contact special interest groups from the ACLU to Gay/Lesbian Groups to Veteran Groups to find out why their members dont get the kind of protected 'lines' that EB2's such as you have! After all, if EB2 is such a protected category, why not have other protections for other groups that need such protections? We can go ahead and divide the world into pieces as small as our mind... :D

    My last post for this obvious loser... mama/papa would be proud, indeed :D... sad, sorry state of reality that we call the 'high skilled immigration cause' ...

    While you are ranting and raving, dont forget to get back to basics... and read my earlier threads educating you on the basics of EB immigration and why the current interfiling / porting is a valid practice...

    Go ahead, rant, rave... enjoy your stress... :D

    BTW: I have more qualifications and success than people have letters in their long names :)... so, I know a little bit about success :D... and I didnt get it by throwing others under the bus... !




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  • imbond707
    08-06 08:41 AM
    Dear Rolling_Flood,

    Interfiling/PD Porting is a law. And I understand that you want to file lawsuit so that this law can be changed. If you are so adamant about this then why are you wasting your time to know our views on this? Why don�t you go ahead and file lawsuit? If indeed you succeed then what if Americans stands up and see opportunity from this case that EB based immigration system can be challenged and file lawsuit to change EB based immigration system that allows only PhDs to immigrate to US? And you are not PhD. Please for your sake take a moment and try to release negative energy you have and then you will see that this world is so beautiful.

    May GOD give you wisdom. (Amen�)

    James Bond



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  • pvadiga
    09-30 09:26 AM
    Well, this entire process of green card is being made so complicated for people who have education and constatly supporting the economy of this country. Illegal Immigrants are getting a cake walk

    I came to U.S in August 2000, completed my Master's and with great difficulty of H1b sponsorship found a job for my qualification in Aerospace Industry. Though I had Master's and was eligible for EB2, my employer disagreed because they had to pay more. I started my EB3 process in Nov 2006 and filed for I-485 in July 2007 in the confusion. I fwas orced to switch job in Feb 2008 and had filed AC21. My I-140 got approved in Apr 2008. Due to the death of my father in Sep 08, I had to travel to India. I attended my H1b interviw on 18th Sep and still waiting for my Passport. There is some unexpected delay due to migration in system. I was schocked to find out on Sep 22 that my I-485 has been denied. My wife is on AP and can't enter U.S now withot her H4.

    My Struggle has been never ending for the past 8 years though I am contributing towards the progress of this country economically a tax payer and intellectualy as an Aerospace Engineer

    We need to fight for this cause and voice our concern, which is in the benefit of both us and U.S




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  • edd
    07-14 11:57 PM
    I am wondering how hard it will be for USCIS to tell exactly how many EB3-I (and other) pending cases are out there. If they can break it via monthly, it will atleast tell us how long will it take to get to our respective PD's (without any legislation whatsoever). This would be worst case scenario and frankly would help me to plan my next move.

    What makes bit confusing to me is that most of the people I know (outside california) with Eb-3 and PD less than Dec 2002, have already got their GC's

    Someone mentioned FOIA. Can you please share the link on how to apply for the same



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  • mpadapa
    09-26 10:14 AM
    Yes, I would also love to see Sen Obama as President. I have no doubt in my mind that a Harvard graduate can get USA out of this economic turmoil. Obama presidency comes with a price for high-skilled immigrants because of the influence of Sen. Durbin on Sen. Obama on EB immigration issues. Past proposals from Sen. Durbin has scared the heck out of EB folks. If there is any changes to AC21 law like portability and H1 extensions, then many high-skilled immigrants might be sent packing because they cannot maintain status.

    I have been in this country for almost 10 years and still have a long way to go before I get my green card. A Green Card system that was devised for a wait time of few years, has been clogged and is taking decades for people to get Green Cards. On top of it if the rules of the game is changed (like that proposed in CIR), I certainly don't want to get into this black hole queue again. If I have to start over my GC process again I would rather start it else where other than USA. I am strongly inclined to start my Canadian PR process if I don't see any process improvement in the GC process in the next year. Decades of waiting for a Green card has taken the edge out of my creativity and innovative spirit. It has causes me to compromise on professional ambitions. Even after 10 years of wait for this never ending ordeal, I still have to spend thousands of dollars every year on immigration expenses. I still cannot commit to buying a house and settling down because of the uncertain future due to Green Card limbo.

    The luke warm reception to Lofgren bills by the Republican's have shown what we can expect if Sen. McCain becomes the President. Why did the so called maverick who supposedly supports immigration let the Lofgren bills die in the committees, while Republicans filibustered the bill in all the markup sessions. Sen. McCain has forgotten the word immigration after he has become the Republican nominee.




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  • anandrajesh
    03-24 03:31 PM
    But many of your posts indicate you have a bias against Indians. You seem to be going hard against H1B and saying Indians are screwing H1Bs.


    Isnt that true? If you are in the IT industry for the past 10 years you know it is true.
    We, Indians are the ones who has mastered the art of circumventing the H1B process and screwing up the job market. Fake Resumes, Fake References, not working in the state where you are approved, somebody appearing in the phone interview and somebody else showing up in the Face to Face interview and what not.

    I am not tainting the whole community here, and i am one of you. I agree that atleast 80% of us are Genuine, hardworking candidates. There are few chosen individuals(rest 20%) who did unethical & immoral things for their own good and we are the ones who are paying the price for this whole mess. You can chose to deny this fact and live in a world of denial.



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  • xyzgc
    02-12 10:31 PM
    its all forgotten now, just wait for a bright tomorrow.:D




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  • dixie
    02-02 05:47 PM
    Bottom line is : if you are in the US > 183 days an year, you pay tax period. IRS doesnt care about visa status.Social security and medicare is a different issue, and certain visa categories are exempt from it.



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  • gapala
    12-24 08:17 PM
    I know you must have left the forums by now. But I find it interesting how you are being misled by the so called leaders in India itself. Check this column by Tarun Vijay http://timesofindia.indiatimes.com/Columnists/Tarun_Vijay_Thou_shalt_rise_again/articleshow/3882599.cms Check out the differences between Shabana and other muslim leaders on the forum. Interesting!

    Insightful article. Imagine what is going on under currents... they seems to have 2 faces. There is a investigative video floating in youtube where one idiot is preaching youths in UK to show secular face to society until achieve their goal. Same idiot goes out and conducts interfaith conference and talks about unity. what a hypocrat.




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  • sc3
    08-05 06:48 PM
    Here we go again. EB2 is fraud, they are all really EB3, but guess what? All the bright EB3s are really EB2, they are all suffering needlesly. Right?

    Here's my take (I don't even believe it but I think you deserve to hear it)- I think EB3s like you are the real frauds. If immigration law were followed to the T, plenty of EB3s would never get a GC. So many Americans with basic skills that can do silly coding - hell a monkey can do it. So enjoy what you have.

    How did you like the sound of that pal? If it felt wrong and offensive, then first shut your own gob and stop posting crap about "most EB2s".

    Just fyi I have been here loger than you- by quite a lot. So if that's the qualification, I have "seen" a lot too.

    I dont know whom you are responding to but...

    So Eb2 does not do silly coding??!!. Get a reality check. The jobs that Eb3 and EB2 does are pretty much the same. The same monkey can do the jobs of EB2 too, so I fail to see you point.

    Also, the law does not just state that there are no qualified -- there is also a willing clause. There might be Americans who can do the job, but such Americans may not want to relocate etc.


    Over the lot of arguments I have seen Eb2 claiming to be superior, please disabuse yourselves of it. I am Eb3, but I lord over Eb2, and the same EB2s lord over me depending on particular expertise and problem that is being solved, that is business. No, I am not talking about telling EB2s how to switch on their computers. I am talking about hardcore technical issues.



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  • ghost
    07-09 08:56 PM
    Really, H1B program and employment based greencard program, that brings professionals in skilled occupation into this country to fill a shortage of skilled workers has been vindicated beyond limit. And they keep beating the same drums. "They steal jobs". "They drive down wages". They make good soundbites. And they make good quotes for Lou Dobbs.



    Could not resist from posting this:

    http://www.youtube.com/watch?v=jqWPS1NYyVw&search=jon%20stewart%20on%20immigration

    One more example of Lou's extreme ideology.




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  • Ramba
    07-14 03:44 PM
    --------------------------------------------------------------------------------

    It is very understandable the frustration of Eb3-I guys. The reason is very simple; supply Vs demand; nothing more nothing less. Both EB2 and EB3 gets about 40K visas per year. Since worldwide demand for EB3 is extremely very high, India gets abot 3000 visas per year. However, there is not much worldwide demand for EB2 visas, India and and China gets all spill over in EB2 catagory plus unused visas from EB1. This makes availability of visas in Eb2-for India and China is very much higher than EB3. I guess about 30 to 35K (out of 40K) visas goes to EB2 for both India and china. However in Eb3 both In and China gets 3K each. Just compare 30K vs 3k.

    Study the visa statistics for last 10 years at DOS website. http://travel.state.gov/visa/frvi/st...tics_1476.html
    Then, one can easily unserstand the demand for EB3 in worldwide. The reason is, unfortunatly EB3 has professionals and skilled workers catagory. There are thousands of skilled workers (who has just two years working experince with out much education) are in demand for EB3 numbers every year accross the world. This makes the availablity for India is just 3000. 1500 restarunt cooks with their dependents from India is sufficient to consume one year quota in Eb3. Thatswhy India stuck in 2001. It will be like that in future too. It will be in snail phase.

    So, it is not the DOS or CIS or DOL determines the movement of cutoff dates. It is the INA that contolls the allocation. DOS is just doing their job.

    The INA does not address how to give prefrence to a EB3 Indian guy with PD in 2001 with EB3-ROW guys with PD 2007. Every year EB3-ROW pours tons of new application. The demand from ROW will not dimnish, so India will get only 3000 by the virtue of increasing new demand by ROW form easch passing years. A ROW guy with PD 2007/2008/2009 will be in preference than a EB3 guy from India with PD 2002. Therefore there should be a mechanism to balance this effect. Unfortunatly there is no provision in INA. So, DOS may not help to overcome this, as DOS is a just a implementer of INA.



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  • nojoke
    06-26 04:58 PM
    Well - your approach smells of speculation, which is pretty dangerous!!

    I take the following approach

    Left Side: Add my rent

    Right Side: Add all my expenses (mortgage + maintenance + tax)

    As soon as Left > right - it is a time to buy.

    If you get to the nitti-gritties - it can get very complicated. e.g. you usually put 20% down. Plus the principal payment is technically not "expenditure" - it is "investment in your home equity". Owning means you lose flexibility. It is impossible to put numbers against all these.

    However, my personal "estimate"/"Tipping point" (taking into account the loss of flexibility etc) is when I have positive cash flow from owning (i.e. rent > mortgage + tax + maintenance). Some very successful RE investors I know take the same approach and are very successful.

    No. Speculators generally drive up the prices. What I am doing is not speculation. It is being cautious and rational(with the data I have). The one who drove up the housing price are the ones who were speculating that it will go up in price forever and created this huge bubble. You got the meaning of speculation wrong.
    Speculation is "engagement in business transactions involving considerable risk but offering the chance of large gains, esp. trading in commodities, stocks, etc., in the hope of profit from changes in the market price."
    There are people who are waiting for the house prices to come to back to sane levels. And there are people who cannot get loan even if they wish to buy. They are not speculators.




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  • wantgc23
    08-06 02:53 PM
    plz keep goin



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  • Macaca
    12-28 06:54 PM
    The India-U.S. Relationship in 2010 (http://blogs.wsj.com/indiarealtime/2010/12/28/the-year-that-was-india-and-the-us-in-2010/) By Tripti Lahiri | IndiaRealTime

    Indian and U.S. relations went through both highs and lows in 2010, with roadblocks on nuclear cooperation and outsourcing creating some rifts in a relationship that is strengthening overall, as U.S. President Barack Obama said on his first visit here in November.

    Here are five India Real Time blogs that present a sense of the diversity of the political, economic and cultural ties between�yes, we have to say it��the world�s oldest democracy and the world�s largest democracy.�

    Sure, some Americans still see Indians as job-stealers. During the Arkansas Democratic primary earlier this year, a group called Americans for Job Security tried to capitalize on that perception with an ad that had various Indian characters thanking candidate Bill Halter for sending them jobs. Many Americans, and not just those of Indian or Asian descent, found the ad a wee bit tasteless.

    And sometimes India still feels on unequal footing with the U.S. The verdict this summer by a Bhopal court in the Union Carbide pesticide plant gas leak case of 1984 stirred up grievances India still harbors towards the United States from a time when the country wasn�t viewed as an emerging nation and had little ability to bargain with the American superpower.

    This year seven former Indian executives of the now defunct Union Carbide India Ltd. were found guilty of negligence in connection with a disaster that killed thousands. No American executive stood trial and Union Carbide Corp. the parent company, never admitted negligence though it did agree to a $470 million settlement five years after the leak. The feeling that an American firm had got off lightly because it hailed from a country more powerful than India sometimes still rankles and set off a cry again this year to extradite then Union Carbide Corp. chair Warren Anderson, now in his eighties.

    But couch potatoes in both countries can still share a laugh at and with each other. Following the theory that the best comedy comes from the things we really want to cry about, as Americans complained about job losses and Indian IT firms complained about a hike in skilled-worker visa fees, NBC waded into the fray with a sitcom called �Outsourced.� Reviews for the show, which premiered in September, and comments from India Real Time readers , were mixed.

    Culturally, the two countries exchanged some things. From motorcycles to Broadway-inspired theme parks, India drew a lot from the United States. Meanwhile, Indians are now providing suits to Obama and recipes to the rest of America. And at least one Indian-American came to greater prominence in the United States.

    And the most powerful man in the world (or second-most, with China�s Hu Jintao apparently ahead this year) says the two countries have overcome the coldness of the past, when India aligned more closely to the former USSR. In his landmark address to Parliament Mr. Obama said that India and the U.S. �have an historic opportunity to make the relationship between our two countries a defining partnership of the century ahead.� He also said the two countries must work together to create jobs, fight terror, promote democracy around the world.

    Of course, in order to achieve all those things, India Real Time suggested that the two countries, like any couple that is in it for the long haul , must work out the kinks in their own relationship.

    India U.S. Ties in 2010 (http://online.wsj.com/article/SB10001424052970203731004576046822308542558.html) By IndiaRealTime




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  • engineer
    01-03 12:31 AM
    Writer, Shuja Nawaz
    http://www.shujanawaz.com/index.php?mod=about


    Brinksmanship in South Asia: A Dangerous Scenario
    December 26, 2008 10:32 | PERMALINK (http://www.shujanawaz.com/blog/brinksmanship-in-south-asia-a-dangerous-scenario)
    Reports of military movement to the India-Pakistan border must raise alarums in Washington DC. The last thing that the incoming Obama administration wants is a firestorm in South Asia. There cannot be a limited war in the subcontinent, given the imbalance of forces between India and Pakistan. Any Indian attack across the border into Pakistan will likely be met with a full scale response from Pakistan. Yet, the rhetoric that seemed to have cooled down after the immediate aftermath of the Mumbai attacks is rising again. It was exactly this kind of aggressive posturing and public statements that led to the 1971 conflict between these two neighbors. Pakistan has relied in the past on international intervention to prevent war. It worked, except in 1971 when the US and other powers let India invade East Pakistan and lead to the birth of Bangladesh. What makes the current situation especially dangerous is that both are now nuclear weapon states with anywhere up to150 nuclear bombs in their arsenal. If India and Pakistan go to war, the world will lose. Big time. By putting conventional military pressure on Pakistan, is India calling what it perceives to be Pakistan�s bluff under the belief that the United Sates will force nuclear restraint on Pakistan?
    The early evidence after the Mumbai terrorist attack pointed to the absence of the Pakistan government�s involvement in the attack. Indeed, the government of Pakistan seemed to bend over backwards to accommodate and understand Indian anger at the tragedy. But, in the weeks since then, as domestic political pressure mounted on the Indian government to do more, talk has turned to the use of surgical strikes or other means to teach Pakistan a lesson. It was in India�s own interest to strengthen the ability of the fledgling civilian government of Pakistan to move against the militancy within the country. But it seems to have opted for threats to attack Pakistan, threats that, if followed up by actions, may well derail the process of civilianization and democratization in that country. India must recognize the constraints under which Pakistan operates. It cannot fight on two fronts. And it lacks the geographic depth to take the risk of leaving its eastern borders undefended at a time when India has been practicing its emerging Cold Start strategy in the border opposite Kasur. Under this strategy, up to four Integrated Battle Groups could move rapidly across the border and occupy a strategic chunk of Pakistani territory up to the outskirts of Lahore in a �limited war�.
    For Pakistan, there is no concept of �limited war�. Any war with India is seen as a total war, for survival. It risks losing everything the moment India crosses its border, and will likely react by attacking India in force at a point of its own choosing under its own Offensive-Defensive strategy. (That is probably why it is moving some of its Strike Force infantry divisions back from the Afghan border to the Indian one.) As the battles escalate, Indian�s numerical and weapon superiority will become critical. If no external intervention takes place quickly, Pakistan will then be left with the �poison pill� defence of its nuclear weapons.
    The consequences of such action are unimaginable for both countries and the world...
    The NRDC (Natural Resources Defense Council) conducted an analysis of the consequences of nuclear war in South Asia a year before the last stand-off in 2002. Under two scenarios, one (with a Princeton University team) studied the results of five air bursts over each country�s major cities and the other (done by the NRDC alone) with 24 ground explosions. The results were horrifying to say the least: 2.8 million dead, 1.5 million seriously injured, and 3.4 million slightly injured in the first case. Under the second scenario involving an Indian nuclear attack on eight major Pakistani cities and Pakistan�s attack on seven major Indian cities:
    NRDC calculated that 22.1 million people in India and Pakistan would be exposed to lethal radiation doses of 600 rem or more in the first two days after the attack. Another 8 million people would receive a radiation dose of 100 to 600 rem, causing severe radiation sickness and potentially death, especially for the very young, old or infirm. NRDC calculates that as many as 30 million people would be threatened by the fallout from the attack, roughly divided between the two countries.
    Besides fallout, blast and fire would cause substantial destruction within roughly a mile-and-a-half of the bomb craters. NRDC estimates that 8.1 million people live within this radius of destruction.
    Studies by Richard Turco, Alan Robock, and Brian Toon in 2006 and 2008 on the climate change impact of a regional nuclear war between these two South Asian rivals, were based on the use of 100 Hiroshima-sized nuclear devices of 15 kiloton each. The ensuing nuclear explosions would set 15 major cities in the subcontinent on fire and hurl five million tonnes of soot 80 kilometers into the air. This would deplete ozone levels in the atmosphere up to 40 per cent in the mid-latitudes that �could have huge effects on human health and on terrestrial, aquatic and marine ecosystems.� More important, the smoke and sot would cool the northern hemisphere by several degrees, disrupting the climate (shortening growing seasons, etc.) and creating massive agricultural failure for several years. The whole world would suffer the consequences.
    An Indo-Pakistan war will not cure the cancer of religious militancy that afflicts both countries today. Rather, India and Pakistan risk jeopardizing not only their own economic futures but also that of the world by talking themselves into a conflict. The world cannot afford to let that happen. The Indian and Pakistani governments can step back from the brink by withdrawing their forces from their common border and going back to quiet diplomacy to resolve their differences. The United States and other friends of both countries can act as honest brokers by publicly urging both to do just that before this simmering feud starts to boil over.
    This piece appeared in The Huffington Post, 26 December 2008 (http://www.shujanawaz.com//)




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  • ilwaiting
    06-01 01:31 PM
    I bet these guys do NOT know the facts more than the Congress. I bet Congress might have done lot more research into this immigration issue and its impact in all aspects than these news channels anchor's.

    But I guess it time that these channels get the facts straight or no conservative would believe them!!!



    Its also MSNBC. Just look at Tucker Carlson and Joe Scarborough.

    If you hear Tucker Carlson on MSNBC, he sounds like the protege of Jeff Sessions.

    However, one difference between Tucker Carlson and Lou Dobbs. Tucker supports(or atleast pretends to support) the legal variety.

    Lou Dobbs openly opposes all immigration.




    jungalee43
    09-28 12:39 PM
    I am not US citizen and who becomes president or who the American people vote for is none of my business.
    But I can't resist writing here because it is going to affect my life in a great way.
    Sen. Obama's appeal of change is definitely attractive. But would he walk the talk?
    He mentioned American values in the debate. All of us i.e. the EB immigrants came here on the invitation of American Employers to help American corporations and economy. I came here little over 8 years ago, not only on the invitation but on the insistence of the American employers. I paid taxes from day 1 and followed every law in letter and spirit.
    My then colleagues, who were not invited, stayed back in India and have become Vice Presidents and Presidents of the companies. And they earn equal or more than what I earn here and have exactly same or better life style as I do, including the cars that I drive here. But I am stuck with the same job description and title that was assigned to me 8 years ago and all my retirement money in now with US government and none in India.
    Then I've realized that once the EB immigrants, invited by the American employers, enter the GC loop, they are chosen by US immigration system to discriminate on the basis of their country of birth. People born in Timbuktu clear all the three stages of green card in 5 to 15 months. But for people born in India, this journey is simply put, 'endless'. I am myself in the last stage of green card for last five years for the only reason that I was born in India.
    If Sen. Obama is really going to bring change, he’ll have to answer these core issues in the immigration system. What is broken is the respect for US values that he talked about. There is discrimination built in the system. There is no fairness, no equality and most of all no justice.
    And if his fellow Sen. Durbin calls the shots in next senate then it is all over for us and may be for American employers also. If I am asked to write 100 reasons why CIR2007 failed, I would write Durbin-Grassley provisions on EB immigration from no.1 through 50. That would be followed by the disastrous points based system from position 51 through 75. (My former boss, a great maintenance manager in a huge company in India migrated to Australia under points based system. The last I heard of him was that he was a taxi driver at Sidney airport.)
    If a scenario happens where Sen. Durbin calls shots in senate, Sen. Obama would be turning back on his promise of change. To bring change he may have to take the current senate democratic leadership head on. His best chances are with Republican Senate and Democratic House.
    I am really really worried but still I wish all the very best to Sen. Obama.




    ssa
    06-23 04:53 PM
    Besides other errors in calculation which have been already discussed above, the numbers assumed here are unrealistic.

    First and foremost you can't get townhome in Cupertino for 500K. Even in this market 2br/2bth dingy condos in good school district in Cupertino (remember, even within cupertino there are different levels of school district, especially when it comes to high school) are going for 550K at least.

    Second for those condos HOA is on an average 400/mo so that's minimum 4800 per year not 3000.

    Also the biggest problem with this calculation is it is valid for the very first year ONLY. The 15K you get back from tax credit and 50% from the broker (IF you can get it in the first place) is only for the very first year. What are you going to do for the next 29 years? Unless you think you will own for just one year and then flip it (which is a suicidal plan in this housing economy) it does not make sense.

    Here is one calculation that might give you one more reason to buy...

    This is taking into consideration bay area good school district ....


    say you are currently in a 2 bedroom paying around $1900 rent (say cupertino school district)

    you buy a townhome for around $500k putting down 20%
    so loan amount is 400k
    @ 5% instrest your annual intrest is $ 20k.
    Say 3k HOA anually...
    Property tax....as a rule of thumb, I believe (and have heard from others) whatever poperty tax you pay comes back as your mortgage intrest and property tax is deductable.
    So not taking property tax into account....your annual expense is 23k.

    now here is the nice part....
    you get 8k (or is it 7.5k ?) from FED for buying a house (first time buyer)

    If you get a real estate agent who is ready to give you 50% back on the comission you can get back around 7.5k (assuming the agent gets 3% comission)...I know those kind of agent exist for sure !!

    There is something I have heard about CA also giving you 10k for buying new homes...but I am not sure of this so will leave it out of the calculations...

    so total amount u get back....8k+ 7.5k = 15k approx..

    1st year expense = 23k
    1st year actual expense = 23-15 = 8 k

    which mean monthly rent = 8k/12 = $666 per month (it is like paying $666 rent for a 2 bedroom in cupertino school district)

    Will the property value go up ? I do not know (I wish I knew)...

    Is there a risk ? I would think yes....

    Percentage of risk ? I would think keeping in mind current prices the risk is low...

    I am not telling that you should buy or not buy....just provided one piece of the calculation....-;)

    All the best !



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