US will sell "gold card" giving foreigners right to live/work for $5M
cnn.com
cnn.com
With this, it seems like a 5 million usd donation to the US government. Which makes sense and puts us in-line with other countries that have "weaker" citizenships. Just makes me a little sad because I was saving up to 1 million to get the EB-5.
Where's the law from congress that authorized this new category? The EB-5 he's talking about replacing comes from the Immigration Act of 1990.
The timeline suggests Trump is going to sell worthless crap to gullible victims again, and use his lawbreaking to tee up another kind of The President Is A Dictator assertion in the hopes the Supreme Court will endorse it. (The Constitution says Congress has to impeach the President to stop power-grabs, but too many Republicans want their guy to grab power.)
instead pay a one-time fee to the man himself and do whatever you want.
Or donate it to Trump and Musk and find yourself with zero dollars to your name and the right to be in a place where if you don't have money you are even more of a zero compared to other regular countries, matter of fact if in other countries people without money are zero, in the US they are 6 feet under (or on their way there given health policy)
Why would you expect someone to be spending all their money on this? It's clearly for wealthy people. I'm Canadian/Australian so you can probably guess my opinions on Trump and the current US government but I don't have any problem with this type of program and most countries already have a similar one just at a lower price point(I think Canadas in like $2m in venture investing instead of a straight payment to the government but same difference).
not for long though, lol
But is it legal to make nazi salutes in Thailand or Vietnam?
Malta in the EU also offers golden visas with straightforward route to citizenship and it attracts people who wants this and be able to have a place of adobe in a stable country.
Labor shortages can be induced by cutting supply: the Black Death was a famous example of this. More modern ways to do so could be reducing the birthrate or deporting able-bodied, working-age immigrants.
Capital surplus can occur if there is too much cash and not enough investment opportunities. Importing more rich people and printing money can accomplish the former. Low interest rates and technological stagnation can accomplish the latter. War is also an option: war profiteering is a poor investment since the losing side's investors often get their assets confiscated as loot or reparations.
One risk of this approach is that retirement becomes near-impossible. This is because retirees are capital holders: either directly via defined-contribution pensions or indirectly via annuities (defined-benefit pensions). The only way to retire will be if one has kids (or at least younger friends) willing to support them.
Another risk of this is that the capital class will try to defy economics by abolishing civil rights and re-instituting slavery or serfdom. After all, it worked for Constantine...
[0] Yes, I know this idiom is increasingly unfair to the rest of the Americas.
I think it's a given that none of the character assessments conducted for other visa applicants will apply in this case.