[matwood]

As soon as someone immigrates and becomes a citizen they are also your fellow countrymen.

Where the next huge industry starts, wherever that happens to be, will define the next super power. Having the US be attractive for foreigners to immigrate to and become citizens raises the odds the US will be that place. I don't want access to the Chinese or Indian stock markets, I want the best of their citizens to want to immigrate to the US and start companies here because the US is the best place for company formation (not arguing either way atm, just saying what I want). This type of environment raises all boats.

Instead we teach other countries best, send them home, and yield few of the benefits as they go on to start companies.

[ta2938489]

By that argument, it seems like you would be in favor of being extremely selective about who becomes your next fellow countryman. If he turns out to be a liability, you're just that little bit further away from being the next superpower. He may well not, but what if he does?

Could there be social welfare costs? Rising income inequality? Unemployment of current citizens?

If you want to frame the problem in economic terms, a frank discussion of the risks is mandatory. Right now we usually talk about it like a ca. 2008 banker might have talked about naked credit default swaps. Sure, there might be a risk. But think of how much money we can make!