Clever Idea by Trump?

[RX792P]

Originally Posted by 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.

https://econofact.org/factbrief/did-...rich-americans

The Tax Policy Center found that households whose earnings are in the top one percent would receive an average tax cut of $61,090 by 2025 while the bottom 60% of American households would receive an average tax cut of less than $500. This represents a 2.9 percent increase in after-tax income for the top one percent, compared to a 0.4 percent increase in after-tax income for the bottom quintile of Americans.

[Iceman]

The top 1% paid 40.4% of all federal income taxes in 2022. The bottom 60% paid 3%.

[HDGristle]

Latest discussion was for gold card residents to be exempt from the global tax regime

[RX792P]

Originally Posted by Iceman

The top 1% paid 40.4% of all federal income taxes in 2022. The bottom 60% paid 3%.

And
As of 2024, the top 1% of households in the United States owned 30.8% of the country's wealth, according to Visual Capitalist. This is an increase from 22.8% in 1989.
The bottom 50% of households own 2.8% of the country's wealth, down from 3.5% in 1989.

[RX792P]

So what's wrong with the current 'investor visa'?
Why does it need to be replaced with 'Trump Gold Card' (tmTrumpCo)?

Why do away with the investment and job creation requirements of the current investor visa?

[Tiny]

Originally Posted by RX792P

https://econofact.org/factbrief/did-...rich-americans

The Tax Policy Center found that households whose earnings are in the top one percent would receive an average tax cut of $61,090 by 2025 while the bottom 60% of American households would receive an average tax cut of less than $500. This represents a 2.9 percent increase in after-tax income for the top one percent, compared to a 0.4 percent increase in after-tax income for the bottom quintile of Americans.

They should change the name from econofact to econolie or econofiction.

https://www.eccie.net/showpost.php?p...7&postcount=57

[biomed1]

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[RX792P]

OK, back on topic.

All Trump has to do is sell (cue Dr Evil) ONE MILLION 'Trump Gold Passes' (tm TrumpCo) to pay off the national debt.

OOPS, that's not right.
All Trump has to do is sell 7 million 2 hundred thousand 'Trump Gold Passes' (tm TrumpCo) to pay off the national debt.

OTOH, if Trump can sell 40,000 'Trump Gold Passes' by Sept 30, we can pay off the upcoming budget's 1 year deficit.

[HDGristle]

That's where the total green card cap per year and the seven percent per country cap would need to be taken into consideration. Plus the sub caps

The total cap would need to be increased. The per country cap would need to be adjusted by congress.

Since the current fiscal are already in place, the earliest that we would see any of this go in the effect would be next fiscal year. I believe the EB5 cap is 10k.

[Iceman]

Originally Posted by RX792P

So what's wrong with the current 'investor visa'?
Why does it need to be replaced with 'Trump Gold Card' (tmTrumpCo)?

Why do away with the investment and job creation requirements of the current investor visa?

No reason that they couldn't both exist.

[Precious_b]

*THIS* is the most brilliant idea trump has ever had.

All his zillionaire buddies can sponser all the foreigners we need to pick crops, wash dishes, do construction, etc.

Win-win for everyone. Coffers get filled. Americans can not even think about doing those menial jobs and bum around as usual. And be floating the boat of the economies in shithole countries so that they'll stay after finishing working here.