US government revealed unexpected revenue earned from Trump’s $5 million green card program, emphasizing its substantial financial impact.
Donald Trump has introduced a new visa called the Gold Card, which is designed for wealthy immigrants.
This visa costs $5 million and offers a faster path to US citizenship.
Since its announcement, many people have shown interest, leading to impressive sales figures.
What is the Gold Card Visa?
The Gold Card is an upgraded version of the traditional green card. It allows millionaire migrants to live and work in the United States.
This program is intended for those who can make significant investments in the country.
Unlike the previous EB-5 visa, which required a $20,000 investment, the Gold Card focuses on affluent individuals.
Trump’s plan aims to attract rich investors to the US, offering them a direct route to citizenship.
This proposal has sparked discussions about the ethics of purchasing citizenship. Critics argue that it undermines the value of legal immigration.
Despite the controversies, Trump believes this program will help generate revenue and reduce the national debt.
US government discloses massive financial gains from Trump’s $5,000,000 green card
Commerce Secretary Howard Lutnick revealed that the Gold Card is already selling rapidly.
He reported that 1,000 cards were sold in just one day, raising approximately $5 billion.
This is a staggering amount, especially considering the official application process has not yet launched.
Lutnick stated there are about 37 million people worldwide who can afford the Gold Card.
Trump’s administration hopes to sell a million cards, which would bring in a significant amount of money.
This revenue is expected to help tackle the national debt, currently at $36.2 trillion.
Public reaction and concerns
While many see the Gold Card as a great opportunity, others raise concerns.
Critics argue that it is wrong to allow people to buy their way into citizenship.
This idea clashes with the values of fairness and equality in immigration.
Many question how this will affect ordinary immigrants who seek to come to the US through traditional means.
Supporters of the Gold Card believe it will bring more investment into the country.
They argue that affluent immigrants can contribute to the economy and create jobs. Despite differing opinions, the interest in the Gold Card remains high.
One user said: The rich helping the rich.
The second user said: Truly selling the country
The third user wrote: Businesses will probably come anyway which will be nice
The fourth user commented: Imagine – if 1 million of 37 millions green card holders can buy guns and rockets to form ISIS battalions in the US.
Another user said: Putin will soon be a US citizen!!!
Someone said: Smart guy. First throw them out, then let them in again, but then they have to pay.
The Gold Card application process is underway and evolving.
The application system for the Gold Card is still being developed. Elon Musk has been tasked with creating the necessary software for the program.
Trump has indicated that this process will be completed soon, possibly within the next two weeks.
Once launched, the Gold Card will allow holders to live in the US indefinitely. However, there are conditions.
If cardholders commit a crime or violate any laws, they could lose their Gold Card.
While many might pursue citizenship, some may choose not to to avoid US taxation on global income.
Trump envisions the Gold Card as a successful investment opportunity.
President Trump has expressed confidence in the Gold Card program.
He believes it will not only raise funds but also improve the economy. He has suggested that the name “Trump Card” might be more marketable than Gold Card.
This change could potentially attract even more buyers.
During discussions about the Gold Card, Trump emphasized that it does not require Congressional approval.
He believes this will make the implementation smoother and faster.
By bypassing Congress, the administration hopes to quickly attract wealthy immigrants.