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Tuesday, July 12, 2011

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  • suavesandeep
    06-23 12:00 PM
    Tax credit for home purchase could rise - USATODAY.com (http://www.usatoday.com/money/economy/housing/2009-06-22-homebuyer-credit-may-be-extended_N.htm)


    1. It started with $8,000 tax credit which had to be repaid over the next x years.
    2. After a year they said you don't have repay the $8,000 tax credit. Keep IT.
    3. Now till end of 2010 they are proposing $15,000 tax credit.. And open it up to everybody and not only new home owners.
    4. 2011. There may be a bigger tax credit.

    Depending on the year you buy you lose some change.
    Somebody up there is really determined to keep the housing bubble and not let the market correct itself.





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  • alisa
    12-27 02:47 AM
    Alisa,

    Thanks for your posts. I'm glad to have a decent exchange of thoughts with you. I agree with you partly that 'non-state' actors are responsible and not Zardari Govt.. But Who created the non-state actors in the first place? Instead of paying unemployment benefits, who offered them job portability to Kashmir? Their H1B shouldnt have been renewed at all after they came on bench. How can a parent not be responsible for the errant child? The world wants to neutralize the errant child....but for the parent a child is a child after all and that too the one that served its interests once. If this child is abandoned, can future child ( with same objective) be created with the same ease?

    Those are the questions that are haunting many Indians on the forums.

    But I salute you and other folks for keeping this conversation civil.

    Kudos,
    GCisaDawg
    Ofcourse its Pakistan's responsibility since we created them. But the question is, where do you go from here?
    There is about twenty to twenty five years worth of infrastructure and intellectual capital built in the unofficial 'non-state' militant/jihadi circles.
    So, its going to take time for this infrastructure to go away.

    The challenge for Pakistan is to dismantle this infrastructure. A hostile or unfriendly India doesn't help. Ironically, it makes reliance upon this infrastructure attractive.





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  • chintu25
    08-22 11:23 AM
    :D


    "Some good news for the economy. President went on a month-long vacation." �Jay Leno

    "The federal government announced today that the recession ended back in November of 2001. It ended two years ago! Be sure to pass that on to all your unemployed friends. So you know what that means? The past twenty months of job layoffs, corporate bankruptcies and declining stocks, those were the good times. We should have been living it up." �Jay Leno

    "Yesterday Federal Reserve Chairman Alan Greenspan said he would be willing to serve another term. Greenspan said, 'Where else would I get a job in this economy?'" �Conan O'Brien

    "Democrats were quick to point out that President 's budget creates a 1 trillion dollar deficit. The White House quickly responded with 'Hey, look over there, it's Saddam Hussein.'" �Craig Kilborn


    "President unveiled his new economic stimulus plan this week. It was reported that if the plan passes, the president himself would save $44,000 in taxes, Dick Cheney would save $327,000, and you could afford to take the whole family down to Burger King to pick up job applications." �Tina Fey, on Saturday Night Live's "Weekend Update"

    "President 's economic plan will create 2.5 million new jobs. The bad news, they are all for Iraqi soldiers." �Craig Kilborn

    "According to a new study, bad economic times can actually be good for you because people tend to exercise more and eat better. This is not a recession, this is the President�s Health Care Plan." �Jay Leno

    "The big story here tonight comes from Washington, D.C. where President announced his new economic plans. The centerpiece was a proposed repeal of the dividends tax on stocks, a boon that could be worth millions of dollars to average Americans. Well, average stock owning Americans. Technically, Americans who own a significant amount of shares in dividend dealing companies. Well, rich people, that's what I'm trying to say. They're going to do really well with this." �Jon Stewart

    "Treasury Secretary Paul O'Neal has resigned. He didn't want to resign, but there wasn't any money left in the treasury so he's got nothing to do." �Jay Leno

    " Presidents advisers have long been worried that a lagging economy could hamper the president's re-election chances. They hope that the Cabinet shake-up will provide a needed jolt. If that doesn't work, North Korea has to go." �Jon Stewart

    "Al Gore says President�s economic plan has zero chance of working. Now, this raises on important question: President has an economic plan?" �David Letterman

    "President said today that it is our job to vote. That's what he called it, a job. And considering how the way economy is going, that may be the only job we have." �Jay Leno

    "The same week the administration slashed pay raises for all federal workers, they announced they are going to provide bonuses to political appointees who do a good job. You know, that guy who cut everyone else's pay, he gets the bonus." �Jay Leno

    "The Stock Market was down today. Two major businesses declared bankruptcy, consumer spending is at an all time low � in other words, president is back on the job." �Jay Leno

    "President hosted something called the President's Economic Forum down in Waco, Texas today. Waco. Apparently Jonestown and Guyana were booked up. When I think of government policy that works, Waco is the place to go. He invited members of small business to the summit. He was going to invite big business, but they're all in jail." �Jay Leno

    "President told the attendees (at his economic forum) that he wants to simplify the numbers on Wall Street so that people can understand what they are looking at. Simplify the numbers? We are already looking at single digits!" �Jay Leno

    "In a speech yesterday in Milwaukee, President vowed to do whatever it takes to keep the economy strong. In fact he said that if he needs to, he will take vacation for another three months." �Jay Leno

    "There's now speculation in Washington that President is now planning to increase the economic sanctions on Iraq. And let me tell you if they are half as tough as the economic sanctions he has imposed on this country, they are screwed." �Jay Leno

    "President is leaving the White House for a vacation. He's taking a month off. Yeah, take a break, you deserve it. But aides say that while on vacation, will continue to make two or three speeches a week to make sure that the market keeps crashing." �Jay Leno

    "Boy, another bad day on Wall Street. Things are getting ugly. Dow Jones is starting to look more like Paula Jones." �Jay Leno

    "Do you have any idea how cheap stocks are now? Wall Street is now being called Wal-Mart Street." �Jay Leno

    "The United States has developed a new weapon that destroys people but it leaves buildings standing. It's called the stock market." �Jay Leno


    "The economy is in big trouble. Yesterday in a big speech, President said the economy was still getting over the hangover from the 90's. And then, the president admitted he was still getting over his hangover from the 80's." �Conan O'Brien





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  • pete
    04-09 11:29 AM
    Looks like everyone want to talk about their specific selfish advantages and ignore the problem on a whole if this bill passes.

    You can say it whichever way you like. Isnt everybody looking for selfish gains?
    A few months back somebody wanted info on labor substitution and the moderator took the man's side by saying we should all look for advantage and not worry about NAY sayers......

    There is nothing selfish about this. Universities usually donot take short cuts. My job before while they were doing PERM was on monster.com for 11 months!!!The received tons of applications. Yes I can confidantly say they "did not find " a suitable candidate. The H1B visa is a favor granted to us and should not be misused. It also works in IVs advantage because it makes their agenda more solid:

    WE ARE AGAINST MISUSE OF H1B AND WOULD LIKE GC REFORM.

    Unlike we want H1B abuse to continue AND ALSO GC reform.



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  • mariner5555
    04-09 11:29 PM
    we may be thinking that the points below are a worst case scenario but according to the famous economist Roubini - this is a likely one.
    on the lighter side - if this really happens then even the mighty GC would finally become just a card.:rolleyes:
    --------
    1. We are experiencing the worst US housing recession since the Great Depression and this housing recession is nowhere near bottoming out. Housing starts have fallen 50% but new home sales have fallen more than 60% thus creating a glut of new –and existing homes- that is pushing home prices sharply down, already 10% so far and another 10% in 2008. With home prices down 10% $2 trillion of home wealth is already wiped out and 6 million households have negative equity and may walk away from their homes; with home prices falling by year end 20% $4 trillion of housing wealth will be destroyed and 16 million households will be in negative wealth territory. And by 2010 the cumulative fall in home prices will be close to 30% with $6 trillion of home equity destroyed and 21 million households (40% of the 51 million having a mortgage being underwater). Potential credit losses from households walking away from their homes (“jingle mail”) could be $1 trillion or more, thus wiping out most of the capital of the US financial system.
    2. In 2001 it was the corporate sector (10% of GDP or real investment) to be in trouble. Today it is the household sector (70% of GDP in private consumption) to be in trouble. The US consumer is shopped out, saving-less, debt burdened (debt being 136% of income) and buffeted by many negative shocks: falling home prices, falling home equity withdrawal, falling stock prices, rising debt servicing ratios, credit crunch in mortgages and – increasingly – consumer credit, rising oil and gasoline prices, falling employment (now for three months in a row), rising inflation eroding real incomes, sluggish real income growth.
    3. The US is experiencing its most severe financial crisis since the Great Depression. This is not just a subprime meltdown. Losses are spreading to near prime and prime mortgages; they are spreading to commercial real estate mortgages. They will spread to unsecured consumer credit in a recession (credit cards, auto loans, student loans). The losses are now increasing in the leveraged loans that financed reckless and excessively debt-burdened LBOs; they are spreading to muni bonds as default rates among municipalities will rise in a housing-led recession; they are spreading to industrial and commercial loans. And they will soon spread to corporate bonds – and thus to the CDS market – as default rates – close to 0% in 2006-2007 will spike above 10% during a recession. I estimate that financial losses outside residential mortgages (and related RMBS and CDOs) will be at least $700 billion (an estimate close to a similar one presented by Goldman Sachs). Thus, total financial losses – including possibly a $1 trillion in mortgages and related securitized products - could be as high as $1.7 trillion.





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  • amitga
    04-07 05:06 PM
    What kind of employee/employer will be eligible for H1 if this bill gets passed? or there will not be a single person who will be able to get H1 under this law.



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  • unitednations
    03-25 07:10 PM
    send it to info at immigrationvoice.org and we can upload it.

    It is a known bug that we could not fix in the forum. Some members are unable to upload files.

    sent.





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  • xyzgc
    01-04 01:46 PM
    Since 9/11, Pakistani terrorism has become a global issue. Till then it was a local issue.

    The Mumbai attacks were highlighted very well in the world media.
    That is a big step forward.

    War has economic repercussions in these times of recession and open India-Pak war is unlikely, we are all aware of that. But covert operations cannot be ruled out.

    Educated Pakistanis like alisa are well-aware of this issue of terrorism. They may try to be a little defensive but that is quite natural I would think.

    Alisa, I appreciate that you acknowledge this issue but I will not agree with you that let bygones be bygones because this terrorist encroachments have historical roots. In fact, the whole bloody thing is rooted in history since 1400-1600 A.D when the first islamic incursions began.
    Let me stop here...this is my last post on this thread. It does not mean, however, that I'll stop expressing my views against Pakistani terrorism. Not ever.



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  • another one
    09-29 07:20 PM
    To me collateral damage to GC is more acceptable than the same to human life.

    On economic front, the only person on either side who truly supports free market policies is Ron Paul. He is the one of the few Republicans who actually thinks about balancing the budget. Tax cuts are ok, only if you back them up with reduced spending, without increasing the national levergage. National debt is now at 100% of GDP (in the company of zimbabwe and jamiaca) , 20-30% of future income tax will go towards paying of the interest on Govt tax. It will definitely crowd out future private investments. Look at the history of national debt, and correlate them to the administrations.

    "Supply side" tax reductions of Reagan admin were good but even he increased the debt during his tenure. Leveraging is good for private cos (to certain limit, as we can say from recent developments), but not for Govts, as they do not really do much economically productive activity. Keynesian economists have all been hiding in their basement in the last two weeks.

    It is just my belief that Repubs dumb down everything.. from education to how to sell a war or economic plan to people.

    So you are ok with "colateral damage" to your GC ? I have never seen a school force creationism on a child, as for reading its the same everywhere (i remember in india my catholic shool was at pains to teach us that Ramayan was a legend...i didnt change my religion because of that). How many wars were fought during regans adminstration? Do you remember the tax rate during the Carter years? people were shelling out 17% on home loans while banks were paying 13% interest on their CD's. Media driven pontification is ok as long as you can substantiate them with valid reasoning. (Clinton years were good for us but some say that it laid the foundation for the dot com crisis, which lead to easy credit and so on)





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  • pranju
    05-29 09:00 PM
    Donot forget to send the webfax :)



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  • gc28262
    06-07 02:58 PM
    Very interesting discussion going on in this thread.

    Can some of the gurus here point to some websites for fundamentals of home buying as well as investment in general ?

    Appreciate your feedback.





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  • kumar1
    08-06 01:45 PM
    Dude - If you have issues, then fight for 50,000 Green Cards that USA gives away every year through a lottery. Why Indians are not eligible for that? Do you know that more than 80% of green cards are given based on family relations? They get green card just because their relative is a US citizen? Is it fair? Why an Indian/Chinesse graduate from Stanford should wait 6-10 years where someone is getting green card because his distant uncle (They do not remember when they met last time) is a naturalized US citizen? Even worse, fight against those scams where a non immigrant marries a US citizen for just getting green cards. Flight for those who have seen Backlog Reduction/Elimination days.....

    Out of all these causes, you got EB2/EB3 interfile cause? Shame on you! Please stop saying that you are from IIT. I have done B Tech from IIT and I do not remember that system producing garbage like you!



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  • nogc_noproblem
    08-29 09:07 PM
    When I Take a long time to finish, I am slow,

    When my boss takes a long time, he is thorough


    When I don't do it, I am lazy,

    When my boss does not do it, he is busy,


    When I do something without being told, I am trying to be smart,

    When my boss does the same, he takes the initiative,


    When I please my boss, I am apple polishing,

    When my boss pleases his boss, he is cooperating,


    When I make a mistake, I' am an idiot.

    When my boss makes a mistake, he's only human.


    When I am out of the office, I am wondering around.

    When my boss is out of the office, he's on business.


    When I am on a day off sick, I am always sick.

    When my boss is a day off sick, he must be very ill.


    When I apply for leave, I must be going for an interview

    When my boss applies for leave, it's because he's overworked


    When I do good, my boss never remembers,

    When I do wrong, he never forgets





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  • Amma
    01-07 07:21 PM
    to call all of these people as highly skilled . Don't know the decency and decorum of the forum.Fighting in the name of religion.
    When you people are going to change ?

    People with no skill is better than so called highly skilled but no brain .



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  • desi3933
    08-05 10:55 PM
    Pappu,
    As usual, if the EB3 (i.e. majority) folks here do not like a subject, it gets banned. If something is unpopular, it gets swept under the carpet.

    Go ahead and close the thread, it's in your nature. Plus i already know which members to contact to make this go forward. I said before and i will say it again, i was NOT looking for monetary contributions.

    I was just reading all the posts which i did not get to read since morning when i left for work.

    To answer some people who called me an asshole, a hater, an anti-immigrant, a bodyshop employee, and a number of other things:

    1.) I graduated from one of the IITs in India, came to pursue my Masters in the same field in the 4th ranked university (for that field) in the US.
    2.) Finished my Masters in 1.5 years and got 2 jobs through on-campus placements (one in my field, one not).
    3.) Took the job that pertained to my field of study, been here ever since, company is the number 2 company in its area, and is a US establishment.
    4.) I never paid a dime for my H1-B or my GC processing till date, it was all paid by the company.
    5.) My company is very strict regarding the letter of the law, and so my GC processing was by the rule book, each and every detail (no fake resumes here).
    6.) I get paid the same (actually about 2% more) compared to a US citizen at the same level/position in my organization.
    7.) I have exactly the same medical/vacation/retirement benefits as a US citizen.

    I did not get a chance to read my PMs but will do that shortly after supper. Yes, i am EB2, but a VALID one. I hope, in moments of clarity, people who are shouting and abusing can see that.

    Yes, i do have an attorney and a paralegal i am talking to, and i will file this case in the proper arena. I am fed up and will do what i think is right. Meanwhile, for those who think porting is right, you are welcome to it. No one stopped you from challenging the law either.

    You can talk here all you like, but i pray that your "bring it on" attitude survives till the point where this porting mess is banned by law.

    Thanks for your attention (or the lack thereof).

    So, what is your point? Why are you against PD recapture (aka porting)?

    Since you mentioned it, let me say few things about myself -
    1. I have graduate degree from IIT as well (IMHO its no big deal)
    2. I have Masters as well
    3. Took the job that pertained to my field of study
    4. I never paid a dime for my H1-B/GC processing. Infact employer paid for EAD and AP for spouse as well.
    5. I worked for Fortune 50 company (until last month)
    6. I had exactly the same medical/vacation/retirement benefits as other employees

    I did I-140 in eb3 and ported to eb2 with the SAME employer (in year 2000). I don't see anything wrong in PD recapture.

    PS - Last Month, I become independent consultant in my field and enjoying my work.

    Good Luck to you.

    ___________________________
    Permanent Resident since 2002





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  • SunnySurya
    08-05 01:45 PM
    Why, what is difference? Why was labor substitution bad. It was perfectly legal after all.
    You can't generalize everything. Do you care to show how this is as bad as labor substitution ?


    How about comparing the actual job duties of all EB2s and EB3s . Not just what their lawyer says ?



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  • Refugee_New
    01-06 12:38 PM
    It is very sad but please post it on the relevant site.

    I think we discuss these kind of news in IV. Don't you know that? In the same forum i have heard people saying Isreal is a peace loving nation and they never commit crime.

    Look at what is happening now. Can we justify killing innocent kids? Who would kill kids? How evil one should be in order to kill school kids?

    How evil this world is, watching these attrocities silently. While pakistani terrorists committed attrocities in India, whole world blamed the entire Muslim communities.

    Now where are those peace loving people have gone while Muslims are brutally murdered and innocent kids are brutally killed by missles?





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  • gc_lover
    07-10 08:16 AM
    According to Lou Dobbs, all the problems faced by America today are purely a creation of immigration and immigrants.

    The global warming, Hurrican Katrina, Rising gas prices, inflation, rising interest rates, slowing economy, deficits...everything is something that is purely a product of immigrants.

    According to him had it not been for immigrants, everyone would have 2-3 mansions to live in, 10-20 high paying job offers, 4-5 luxury european cars. But immigrants took all that away by stealing the jobs of Americans. If the immigrants had not been sucking out the welfare from this country, the social security trust fund and the US treasury would be overflowing with money.

    Goddammit these immigrants who stole the jobs of thousands of hard working lettuce pickers and meat packers and farm workers, who, had it not been for these job-stealing, flag waving, non-english speaking, country invading, sovereignty ruining, wage-depressing immigrant intrudor-invader-thief would have been millionaires by now.

    When will the politicians listen to Lou Dobbs who is the only smart person left in the United States now?

    :D :D :D





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  • NKR
    04-08 12:46 PM
    If I buy a house today and loose 100K in value each year for 2 more years, how is it a savy investment? Savy investors buy low and sell high. Unless you are saying housing is not going to fall further, I am totally confused how it is an intelligent investment. Nightmare stories of the savy investors are all over the news.
    If you want to debate that housing is not going to fall further, history is against you. There are housing bubbles in the past and they take years to correct. It doesn't happen in months. Has there been so much disparity between house price and income ever in history of US? Show me the proof why the prices would not fall further. Do you know what happened to the last housing bubble and how long it took to correct itself?
    Don't tell me this time it is different. It is probably different because a fruit picker earning 20K income was able to buy a house for 500K with no down payment at the high of the bubble. It will be different this time because it will be the worst housing bubble ever. Please don't mislead people with false hope. It is their hard earned money.


    Who said that if you buy a house today you will lose 100k this year and the in the next?. Where does it say so?. How did you come up with that figure?. Which fruit picker earning 20k bought a house worth 500k without a down payment?. Giving analogies and examples are fine, but try to make it more realistic. You are accusing somebody of misleading people, but look at what you are saying. Don�t try to scare people.

    This might not be the right time to buy a house. After a couple of years when things start to look bright, then again you will come up with an excuse to not buy a house. Looks like you and alberto pinto might want to spend the rest of your lives in an apartment. That is fine too if that is what you guys want.

    Keeping this thread alive has become Mr Pinto�s mission, it doesn�t matter if the person who opened this thread has already made a decision and moved on...





    desi3933
    07-11 10:57 AM
    Yes H1B is NOT Stamped yet.

    You can try getting visa from Canada/Mexico, but if visa is denied one has to fly home country to get visa from. You can not re-enter US if visa is denied in Canada/Mexico.

    Do you have degree from US? In that case, it may be helpful.


    ________________________
    Not a legal advice.





    unitednations
    07-10 01:42 PM
    Hello United Nations..

    After looking into above message...I have some doubts, could you please clarify them.

    1. In order to file 485, the person must have a valid visa in his passport?
    In my case I have a valid I 94 but my visa got expired 2 months back, Am I eligible to file 485?

    2. What is auto revalidation?

    I appreciate for your answers.

    Thanks
    RR


    No; you don't have to have a valid visa in your passport to file the 485. You are just supposed to be in non immigrant status (ie., f1, f2, h1, h4, etc.). Your I-94 card if expired; should not have expired more then six months prior to filing 485.

    Auto revalidation is one of the neatest little escapes to gettting back into proper status. Essentially; when entering into usa; one needs a valid visa to enter. However; auto revalidation is when a person goes to Canada or Mexico; stays less then 30 days; doesn't try to visit another country; doesn't attempt to go for visa stamping; has a valid/unexpired I-94 card (this also means unexpired I-94 card on a notice of action) then you can re-enter usa without a valid and unexpired visa.

    This concept is actually very difficult for people to believe that if their visa is expired but they have a valid i-94 card that they can go to canada and re-enter usa without a visa. since you are resetting your date of last entry by going out and coming back in then it helps greatly in using 245k since you have reset the date of your last entry into usa.

    Without auto revalidation; if you wanted to go out and come back in and take advantage of 245k then you would have to go for visa stamping in order to be allowed back in. However; consulate can check back to your earliest entry into usa and ask for paystubs/w2's as far back as they want (sometiemes they will ask you for all the way back). If they don't like what they see then they may not approve the visa and you are stuck.



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