US Citizenship on Sale - Business Outrank

Gold Card: Trump’s New Path to US Citizenship US President Donald Trump has revealed a new controversial immigration policy called the gold card which allows only wealthy foreigners to apply for American citizenship immediately if they pay $5 million. This initiative that is expected to start in place of the current EB-5 immigrant investor visa program is expected to raise billions of dollars and attract high net worth individuals to the United States. The program could raise billions of dollars and help finance the national debt, Trump believes. He predicted at least one million gold cards could be sold, infusing $5 trillion in investments, when discussing the plan. The gold card would allow its holders temporary green card privileges and a faster path to US citizenship. The new system simplifies the process for direct citizenship eligibility by purely based on wealth, unlike the EB-5 visa which requires investors to create or preserve American jobs. The "We are going to be selling a gold card," Trump said. "Wealthy people would be coming into our country by buying this card." However, the announcement has stirred debate on whether it is fair to have special immigration policies for some classes of people. Its critics are quick to point out that the program advantages the ultra-rich, and thus circumvents the standard immigration system, which usually places a premium on skills, family ties, and humanitarian concerns. Replacing EB-5: A More Lucrative Alternative? The EB-5 Immigrant Investor Program which was introduced in 1990 was meant to help the US economy by encouraging foreign investments that would create employment for Americans. In EB-5, foreign investors could receive permanent residency if they made a US$ 800,000 investment that would create 10 jobs within the country. However, EB-5 has been criticized for fraud, abuse and inefficiency. It has been suggested that the program was abused to allow foreign investors to secure US green cards without actually creating the necessary jobs. Trump called the program ‘full of nonsense, make-believe and fraud.’ The Commerce Secretary, Howard Lutnick, also agreed with Trump’s decision to shut down the EB-5 program, calling it an outdated system. “Instead of having this kind of stupid EB-5 program, we are going to eliminate it. We are going to replace it with the Trump gold card,” he said to reporters. In the gold card system, there would be no need for job creation or investment in specific regions; instead, investors would pay $5 million for a direct path to citizenship. This drastic change in the policy is in line with Trump’s policy goal of making immigration policy market-driven, with the economic contribution being the primary criterion. Potential Impact on US Immigration and Economy: Trumps' gold card initiative is expected to affect drastically both US immigration policy and the economy. The program could surge foreign capital, benefiting sectors like real estate, technology and finance, if wealthy individuals buy into it. Supporters argue this initiative could provide much-needed revenue to the US Treasury, which could be used to help pay down the national debt and fund public programs. If Trump is right that one million gold cards could be sold, then $5 trillion in potential revenue could be a game changer for government finances. Its opponents, however, warn that selling US citizenship to the highest bidder raises ethical concerns. The program could create a two-tiered immigration system, where the wealthy can fast track access to the American Dream, while ordinary applicants face years of processing delays. National security experts have also raised concerns about foreign influence, and potential money laundering. Critics of offering citizenship for sale argue that could allow corrupt individuals to exploit the system, possibly compromising US national interests. Nonetheless, Trump remains firm on his stance and continues to argue the gold card will replace what he sees as a broken EB-5 program. Details on the implementation are expected to be released in the coming weeks. A Bold Move or a Risky Gamble? The gold card proposal marks one of the most radical shifts in US immigration policy in recent history. While supporters praise it as an innovative way to attract foreign investment and strengthen the US economy, critics warn that it undermines traditional immigration values and could lead to serious security and ethical concerns. As the program moves forward, debates will continue over its long-term impact on the US economy, social equity, and national security. Whether the gold card becomes a success or a controversial failure remains to be seen, but it undoubtedly signals a major transformation in how US citizenship is granted in the future.

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Gold Card: Trump Puts US Citizenship on Sale for $5 Million

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