Clever Idea by Trump?

[Lucas McCain]

I think so although I see some potential problems but that always comes with change. I won't get into what I think until after some of you guys share your thoughts about whether you agree or disagree with this plan.

https://apnews.com/article/trump-gol...887f1fdb9eec13

President Donald Trump said Wednesday that he plans to start selling a “gold card” visa with a potential pathway to U.S. citizenship for $5 million, seeking to have that new initiative replace a 35-year-old visa program for investors.

“I happen to think it’ll sell like crazy. It’s a market,” Trump said. “But we’ll know very soon.”

During the first meeting of his second-term Cabinet, Trump suggested that the new revenue generated from the program could be used to pay off the country’s debt.

“If we sell a million, that’s $5 trillion dollars,” he said. Of the demand from the business community to participate, he said “I think we will sell a lot because I think there’s really a thirst.”

[69in2it69]

Sales tax on Russian oligarchs for residency with dual citizenship? What rational person with 5 million to drop would want to move here with everything going on? And there's already a cheaper alternative...


https://www.globalcitizensolutions.c...stor-visa-usa/


What favor does almost 5x investment get you?

[tomdooley43]

Originally Posted by 69in2it69

Sales tax on Russian oligarchs for residency with dual citizenship? What rational person with 5 million to drop would want to move here with everything going on? And there's already a cheaper alternative...


https://www.globalcitizensolutions.c...stor-visa-usa/


What favor does almost 5x investment get you?

The cheaper alternative is what the Gold card would replace. Didn't you read the article (seeking to have that new initiative replace a 35-year-old visa program for investors)?

[farmstud60]

The one thing you get with Trump is some new ideas, and even if the idea isn't perfect it gets the discussion going in a totally different direction than the status quo.


I haven't had time to read up much about it, but hopefully will have time to read more on it in the next week.

[1blackman1]

Not a terrible idea. Not sure a 1,000,000 of them will sell but they should tie it to the Republican tax cuts plan dollar for dollar. Rather than having those cuts be on the backs of current workers. Sell a million, republicans can do a 5t tax cut. Everyone would vote for that.

[Jacuzzme]

Rather odd to describe letting people keep their own money as something that’s “on the backs of current workers”. Cutting taxes only burdens those wishing to throw money down the black hole of government, the payer is unburdened. This is the government owns everything and gives you what’s left mindset. We’ve fought wars for far less.

[RX792P]

Trump's version of immigration reform, EB-5 visa (permanent residency to international investors) reform

And it'll pay off the national debt too!!
Hallelujah, it's a miracle.


“We’re going to be doing something else that’s going to be very, very good,” Trump told reporters. “We’re going to be selling a gold card. You have a green card. This is a gold card. 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.”

“If you sell 10 million of the cards, that’s a total of $50 trillion,” he added. “Well, we have 35 trillion in debt. That’d be nice. So we’ll see.”
“They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people,” he said. “And we think it’s going to be extremely successful.”
Paying a lot of taxes? You mean like Jeff Bezos, Elon Musk and Warren Buffett...and Donald Trump?


10 million???
Total EB-5 visas issued over the lifetime of the program is 135,518 (which didn't cost $5MM each)
Trump's goal would only require 74 times as many EB-5 visas as have ever been issued.

[RX792P]

More on the 'Trump Gold Card" (tm TrumpOrg)


Commerce Secretary Howard Lutnick attempts to calm concerns over Trump's 'gold card' visa pitch
https://www.foxbusiness.com/media/co...ard-visa-pitch
Commerce Secretary Howard Lutnick addresses skepticism surrounding President Donald Trump's "gold card" visa proposal during an exclusive interview on "Special Report."


"We said that from the first minute, go — these are vetted people," Lutnick said during an exclusive interview Wednesday on "Special Report."
mmm..ok but...When asked if Russian Oligarchs were eligible
Hey, I know some Russian oligarchs that are very nice people. It's possible.
they could obtain one.

The head of commerce shared that there are roughly 250,000 individuals in line for the "gold card" visa, and priced at $5 million a piece, the current list would come to $1.25 trillion for the United States.
mmm.. 250K that either don't want to or can't meet the for the 'free' existing EB-5 visa? Why? Not willing to make the investment in US?
According to USCIS's website, the visa is open to investors who "make the necessary investment in a commercial enterprise in the United States" and "plan to create or preserve 10 permanent full-time jobs for qualified U.S. workers."
"Imagine if we sell a million of them. That's $5 trillion, and that pays off our debt, drives down interest rates and makes America amazing," Lutnick said.
mmm...NOPE
Math problem: Current US debt is around $36 trillion, leaving $30 trillion after Lunick's $5 trillion.
Or you could sell Trump's 10 million Trump Gold Cards (tmTrumpOrg). I don't think the market's that big.
Maybe Lutnick was talking about the deficit? Current FY2025 deficit is $838B, expected to grow to $1.9T at end of FY25. IF you started today and sold 1,000,000 by the end of FY25, Sept 2025 (217 days) you would be able to close the FY25 deficit, with $3.1T left over to put toward the debt. ​Selling the claimed 250K backlog wouldn't close the FY25 deficit, (-650MM), never mind paying off debt.

[RX792P]

Well, the Trump Gold Card (tm TrumpOrg) is being touted as a path to citizenship.

[Snark on]Gotta give Trump credit. He's getting his imported new voters (10 million) to pay for the privilege, while the Dems were paying the new voters.
Ten million [/Snark off]


If Trump and Lutnick can just get through that pesky little Congress problem...
The U.S. Constitution explicitly grants Congress the authority to regulate immigration under Article I, Section 8. The Supreme Court has consistently reaffirmed this plenary power, meaning that Trump’s attempt to establish a new immigration pathway without Congressional approval is not only legally questionable but also unlikely to withstand judicial scrutiny.

Need a real explanation of why Trump Gold Card (tm TrumpOrg) is so much better than existing EB-5 program. Seems it will delete the 'invest in America, create jobs' part and substitute a one time cash payment as the only real requirement.

[HDGristle]

Pull back and think about the impact in the current global tax regime in the U.S. vs the how it looks of he eliminates income tax

Then think about the other implications. Like collection of the fee and which entities should and shouldn't be involved.

Think holistically

[1blackman1]

Originally Posted by Jacuzzme

Rather odd to describe letting people keep their own money as something that’s “on the backs of current workers”. Cutting taxes only burdens those wishing to throw money down the black hole of government, the payer is unburdened. This is the government owns everything and gives you what’s left mindset. We’ve fought wars for far less.

You clearly have no idea how tax cuts for the wealthy work. Someone has to pay for the wealthy keeping more money. Usually in the form of additional debt for the US that the middle class will be burdened with. Keep believing the Republican lie that tax cuts are free.

[Jacuzzme]

“Tax cuts are free” LMAO! It’s your money, not the government’s. More everything belongs to the government tripe.

The last round of tax cuts under Trump went to every bracket, and was progressive at that. I don’t doubt any future tax plan will be the same. Describing them as “tax cuts for the rich” is nonsense, meant to rile up the majority of people, who aren’t in the top bracket. Obviously it worked in this case.

[Jacuzzme]

*won’t* be the same.

[Schwarzer Ritter]

People want to live here. If you could choose would it be people with money, probably a college education, and something to contribute or thugs, traffickers, possible terrorists, people wanting live off the fat of our land.
I would expect that every person has to be vetted which Biden didn't do.
Everyone has a useful skill or position which Biden didn't do.
I don't expect anyone to become a citizen overnight like Switzerland does or wait 20 years like Dubai does.

We can't get some people (and their companies) to come here. We can get those students we graduated to stay and their employer can pick up the bill.

[HDGristle]

Tie it back to the gold card