Diana’s Little Corner in the Nutmeg State: Do I Hear $5 million? Going Once, Going Twice... Sold!

Monday, March 03, 2025

Do I Hear $5 million? Going Once, Going Twice... Sold!

Under Trump everything is for sale... even citizenships!

Trump says he will offer ‘gold cards’ for $5 million path to citizenship, replacing investor visas
AP News
By ELLIOT SPAGAT
February 26, 2025

President Donald Trump said that he plans to offer a “gold card” visa with a path to citizenship for $5 million, replacing a 35-year-old visa for investors.

“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,” Trump said Tuesday in the Oval Office.

Commerce Secretary Howard Lutnick said the Trump Gold Card would replace EB-5 visas in two weeks. EB-5s were created by Congress in 1990 to generate foreign investment and are available to people who spend about $1 million on a company that employs at least 10 people.

Under Trump everything has a price!

The British Guardian writes...

Wealthy foreigners willing to pay about $5m, Russian oligarchs potentially among them, will soon be able to apply for a visa to live in the United States courtesy of what is being billed as the “Trump gold card”.

Donald Trump announced the new visa program from the Oval Office on Tuesday night, saying it could start in about two weeks.

“It’s going to be a route to citizenship, and wealthy people will be coming into our country by buying this card. They’ll be wealthy, and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes,” he said.

The president was asked by reporters whether Russian oligarchs would be eligible to apply. “Yeah, possibly,” he replied. “I know some Russian oligarchs that are very nice people.”

[...]

Despite the $5m asking price, the new visas-for-sale scheme is likely to be popular among the global super rich. One possible impediment is America’s unusual tax system which makes US citizens answerable for US taxes on income earned anywhere in the world.

If you have money, the front door is always open! But those fleeing tyranny are packed off sent to Guantanamo and shipped out of the country.

1 comment:

Marian3/3/25, 4:59 PM
Last year, there were about 8,000 people who applied for the current program, which started at approximately $1m to get a Green Card. Trump claims hundreds of thousands of people would pay 5x as much for the same privilege. Given that there are only so many Russian Oligarchs who'd consider $5m and American taxes worth it for a Green Card, I'll make a generous assumption of 10k people/year applying for the card. 10,000 x $5,000,000 = $50,000,000,000 at best. Definitely not the Trillions of dollars that Trump claims. And do we even want the oligarchs coming here, chasing out the hard working honest businessmen who contribute $4,000,000,000 to our economy today?
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