The Price Of Freedom: Trump Promotes "Gold Cards" Costing Each $5 Million To Emigrate To US
“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, and we think it’s going to be extremely successful.”
In President Donald Trump’s latest scheme to promote legal immigration and foreign investment while paying down federal debt, he is offering a plan for foreigners to purchase an expensive green card with additional perks that Trump calls a “gold card.”
Trump debuted the concept on February 25th during a meeting the press at the White House.
“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, and we think it’s going to be extremely successful.”
He added that companies also “will be able to buy gold cards,” claiming this will help create more jobs. The President jovially argued that this could be a way to pay down the national debt if thousands of people purchase them.
Trump brandished this soon-to-be-released gold card during the State of the Union address on Tuesday.
“With that goal in mind, we have developed in great detail what we are calling the “gold card” which goes on sale very, very soon. For $5 million, we will allow the most successful job-creating people from all over the world to buy a path to U.S. citizenship. It’s like the green card, but better and more sophisticated. And these people will have to pay tax in our country. They won’t have to pay tax from where they came. The money that they’ve made. You wouldn’t want to do that. But they have to pay tax, create jobs.
“They’ll also be taking people out of colleges and paying for them so that we can keep them in our country, instead of having them be—being forced out. Number one at the top school as an example, being forced out and not being allowed to stay and create tremendous numbers of jobs in great success for a company out there.
“So while we take out the criminals, killers, traffickers and child predators who are allowed to enter our country under the open-border policy of these people, the Democrats, the Biden Administration, the open border, insane policies that you’ve allowed to destroy our country, we will now bring in brilliant, hardworking, job-creating people. They’re going to pay a lot of money, and we’re going to reduce our debt with that money.”
So far there are not too many details as to the benefits that will come with the card. Commerce Secretary Howard Lutnick said at the unveiling last week that the gold card would allow holders to avoid paying U.S. taxes on their overseas income - something current citizens or immigrants in the country do not have an option to.
The concept is not new as countries such as Malta, Canada and New Zealand, among others, provide as well but invariably not as much as Trump’s gold card.
PBS noted:
Basil Mohr-Elzeki, managing partner Henley & Partners North America, said the programs often help countries meet investment goals. But they don’t always last.
Spain’s government scrapped its program to allow people from outside the European Union to obtain residency permits if they invested more than half a million euros ($520,000) in real estate. The program was criticized for causing soaring housing prices. The U.K. ended its program in 2022 over security concerns.
Mohr-Elzeki of Henley & Partners said despite the high price tag, there may be an appetite for the program, but it remains to be seen what the parameters are.
“We don’t have that much information aside from the investment threshold and the intention,” he said. But generally these kind of programs can help countries meet investment goals, depending on the goal, he said.
“We do think that there will be significant demand in this program,” he said. “We are just waiting on on the details of what frameworks that they’re going to be outlining.”
The key to whether it will be a success or not will less likely be the $5 million investment threshold and more to do with the process.
But people such as Nomad Capitalist’s Andrew Henderson argue that it will not have that much success. His firm helps clients emigrate to other countries, and he argues that Malta’s program, for example, is simply much better and much cheaper.
Henderson says that while the U.S. still maintains somewhat of “brand” recognition, he in no way does he see America selling millions of these and is unrealistic.
He also argued that if someone has $5 million dollars there are so many other and better options, especially considering that the culture in the U.S. is not great and the country has one of the highest tax rates in the world. As pointed out by Nomad Capitalist on his company’s website,
“The United States ranks 31st out of 38 OECD countries in the tax-to-GDP ratio, highlighting a significant issue in its tax policy. While it might not be high enough to land on this list, the US does tax your global income, making it one of the most draconic in the world and, therefore, one we recommend people never touch.
“Citizenship-based taxation is the most draconian form of all and is only used by the African country of Eritrea and the United States of America. Citizens of these two countries will never escape the demands of their nation’s taxman. However, those living outside the country have the opportunity to exclude some of their foreign income from the country’s strict taxation.”
AUTHOR COMMENTARY
“They’ll be spending a lot of money and paying a lot of taxes” - Wow, what a sales pitch (sarcasm).
Ezekiel 22:29 The people of the land have used oppression, and exercised robbery, and have vexed the poor and needy: yea, they have oppressed the stranger wrongfully.
We’ll see what happens, but I’m with Henderson on this, I don’t see how in the world this is going to work and be successful; I think this is Trump’s latest shiny object and gimmick he wants to sell people, and I seriously doubt the money collected would not be spent on paying down the debt.
With $5 million dollars, if you have that, why in the world would you want to come to the U.S.? And then you look at our sick and wretched culture and society that we have, I see no reason to come and stay. It’s been well said in recent years by many of those online is the new American Dream is to leave the U.S.! That’s not to discount problems with other countries, but those who can’t realize the soul-sucking society the U.S. has created are still brainwashed by the propaganda and poisoned by the food.
The U.S. needs business badly, which is why one could argue that Trump is so adamant about tariffs with the goal of luring foreign investment to come and manufacture here, but there is simply just not enough juice in the squeeze. The empire is collapsing and nothing can stop it…
[7] Who goeth a warfare any time at his own charges? who planteth a vineyard, and eateth not of the fruit thereof? or who feedeth a flock, and eateth not of the milk of the flock? [8] Say I these things as a man? or saith not the law the same also? [9] For it is written in the law of Moses, Thou shalt not muzzle the mouth of the ox that treadeth out the corn. Doth God take care for oxen? [10] Or saith he it altogether for our sakes? For our sakes, no doubt, this is written: that he that ploweth should plow in hope; and that he that thresheth in hope should be partaker of his hope. (1 Corinthians 9:7-10).
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I just had to say this: Is this anything like a Willy Wonka Golden Ticket LOL!
That could possibly be a bad thing too, but not on the level that illegal immigration is.
At least they will be able to pay their own way.
The Democrats will still likely give them Freebies, since it is not their money, but in hopes of getting their money in their own pockets.