Companies can and should seek ways to increase profits, if it's cheeper to employ foreign labour than citizens, those companies are incentivised to do so.
Even if, with the addition of tax incentives it's still cheeper to employ foreign labor than that's what they'll do.
Cheeper labor can also benefits consumers. when the product is in a competitive market lower costs means companies are able to compete within a larger margin, allowing prices to fall.
Lower prices mean each dollar you work hard for can be spent on more things, which technically speaking make everyone more wealthy
There's also something to be said about the taxes that would otherwise be used to fund other government projects.
Not saying that we'll ever reach it but theres a point where the money "given" to the company as a tax incentive, could have just been given to the person that the foreign worker displaced via the unemployment benefit or similar means.
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