cross-posted from: https://lemmy.ca/post/39729942
President Donald Trump said he is starting a program which would offer residency and a path to citizenship for investors who commit at least $5 million to projects in the US.
Trump said the program, dubbed the “gold card,” would launch in two weeks, adding that he did not believe his administration needed to secure approval from Congress.
“We’re going to be selling a gold card,” Trump said Tuesday in the Oval Office as he signed executive orders alongside Commerce Secretary Howard Lutnick.
“We’re going to be putting a price on that card of about $5 million, and that’s going to give you green card privileges,” he added, referencing the permits currently issued to US permanent residents.
No offense but, who is wealthy and shopping for US citizenship at the moment? Are there other wealthy english-speaking nazis out there?
He’s definitely showing his old man in this. He really just thinks this is a clever deal and will make people flock to buy their way in and get more wealthy people therefore more wealth.
Honestly New Zealand could do this and put the price at $500 million and they would absolutely get takers.
He really does think America is the greatest asset to sell and that’s so worrying for anyone living in it.
It’s a way for russians oligarchs to get back to their frozen assets.
People who could throw down 5 million like it’s pocket change? Yeah probably all of them are nazis. Most of them speak english.
Good. As someone who HATES Illegal Immigrants and FULLY SUPPORTS sending them to Guantanamo Bay I’m Happy allowing RICH WHITE PEOPLE into the Country to Steal American Jobs and Money!
There’s no “/s”, so I’m assuming that this is a serious comment.
It will likely be foreign housing speculators, who will further drive up the housing prices of the US.
You do realize that many countries have this disguised as a retirement visa?
The US already has this: https://en.m.wikipedia.org/wiki/EB-5_visa . Trump is just rebranding the same thing and making it sound like it’s a new idea.
And he thinks by increasing the cost by 5x, it’s going to be more attractive.
The EB-5 typically gets used 5-10k/year at $1m. He wants to sell 10 million. That’s how the business stable genius thinks price elasticity works
There’s a whole bunch of conditions for the old visa, (eg . You need to ‘create’ 10 jobs, invest in certain areas, etc) which presumably wouldn’t apply to this one.
So just multiply the amount of fraud compared to the existing visa by 5x as well.
So only the wealthy matter… got it.
Always been the way
