President Trump has proposed adding a new immigration process, which he calls “The Gold Card” that could be bought for $5 million. He stated that it is similar to a Green Card, except it carries a more sophisticated status and additional privileges.
“I do think Trump adding the gold card was a bit much, but I think he is just trying his best to improve the economy,” said sophomore Valentina Bustos.
Those additional advantages include no longer having to pay the taxes from where they came, and having to wait for approval in about ten days, instead of the long periods that people usually wait, for the green card.
It would contain Green Card privileges and it could also be used as a path for foreigners to obtain their American citizenship.For those who may be unaware, a Green Card is a card that allows a foreigner to live and work in the U.S permanently.
“It feels unnecessary and money hungry. It’s as if your selling two things that are the same, but you’re just adding a fancy title to one to up its price” said sophomore Teresa Kurishingal.
One stated purpose of this was so that wealthy foreigners contribute to the country. There have been efforts for this because some politicians have argued that certain immigrants face challenges contributing to the U.S due to their legal status in the country.
Possible Benefits
1. It could increase government earnings, meaning that if 1,000 people bought the card, it would bring in $5 billion dollars for the U.S economy.
2. Those who are purchasing the card might start businesses, invest in companies, etc. For instance, if a wealthy entrepreneur from Europe or Asia buys a Gold Card, he or she may choose to invest in American real estate, or open a company, which would contribute to the economy.
“I think it is interesting because it is basically paying for citizenship” said sophomore Ethan Cordisco.
Potential Concerns
1. This type of policy could favor the ultra wealthy while making it harder for middle or lower income immigrants to gain legal status.
2. The Gold Card may not guarantee long-term economic benefits so it could result in a short-term cash boost rather than a sustainable economy.
