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Quote of the day: H-1B suggests too many smart people coming

Microsoft Chairman Bill Gates said he doesn't buy the rationale behind the H-1B visa, that "too many smart people are coming."

Microsoft Chairman Bill Gates slammed the federal government's strict limits on temporary visas for technology workers Wednesday, saying that if he had his way, the system would be scrapped entirely.

"The theory behind the H-1B (visa)--that too many smart people are coming--that's what's questionable," Gates said during a panel discussion at the Library of Congress in the nation's capital. "It's very dangerous. You can get this idea that the world is very scary; let's cut back on travel...let's cut back on visas."

Gates' comments verged on sarcastic. He said that "it's almost an issue of a centrally-controlled economy versus" and then trailed off. "I'd certainly get rid of the H-1B visa caps," he added when asked what he would do if he could write U.S. laws. "That's one of the easiest decisions."