The Gold Card Enigma: What Trump is Trying to Sell You
The Trump Gold Card: A $5 Million Path to Citizenship?
In a move that has sent shockwaves through the world of politics and immigration, Donald Trump has once again teased the imminent arrival of “Trump GoldCard,” a new visa program aimed at granting permanent US residency and a potential path to citizenship to wealthy foreigners willing to pay a staggering $5 million.
A Program with a Questionable Business Model
The proposed program is intended to replace the existing EB-5 Immigrant Investor Program, which requires investments in job-creating businesses. In contrast, the Gold Card appears to involve a straightforward $5 million payment without specific job creation requirements. This has led many experts to question the legitimacy of the program, with some estimating that only 20,000–30,000 non-American centimillionaires globally could afford the fee.
A Promising but Dubious Sales Pitch
Trump and his supporters have touted the prospect of attracting over 1 million foreigners paying $5 million each to generate $5 trillion, a sum that could pay down the country’s mounting debt of $36 trillion. However, this number has been met with skepticism by many experts, who argue that it is far too optimistic. Even if only a fraction of this number comes to fruition, it would still be a significant boost to the US economy.
A Tangled Web of Truth and Misinformation
The Trump administration has released patchy details about the program, including claims by Commerce Secretary Howard Lutnick that 1,000 cards have already been sold, generating $5 billion. However, these numbers are difficult to verify, and many experts remain unconvinced by the administration’s enthusiasm for the program.
A Constitutional Conundrum
US lawmakers, including some Republicans, are waiting with bated breath to see how this new program will play out. They argue that creating a new visa category requires congressional legislation, which is power reserved for Congress under the Immigration and Nationality Act. The executive branch cannot unilaterally grant permanent residency or alter tax laws for foreigners.
A Divided America?
For MAGA diehards, the prospect of selling US citizenship to wealthy foreigners is a source of resentment. Others, however, are fantasizing about the potential benefits – including a surplus created by the influx of foreign capital and a reduced national debt. But one thing is certain: this move has raised more questions than answers.
As we wait for the Trump Gold Card program to launch, one question remains: will it truly live up to its promises, or will it prove to be another example of Trump’s signature style – bold, attention-grabbing, and perhaps just a little bit reckless? Only time will tell.