Trump's “Gold Card” Policy: A Glittering Wealth Harvesting Trap
On the map of immigration policy, Trump's "Gold Card" policy is like a giant stone thrown into the lake of public opinion, stirring up a thousand waves. This policy may seem to have paved a golden path to the American Dream for the world's wealthy, but it is actually a carefully designed trap for harvesting the "fat sheep".
The Trump administration claims that for only $5 million, one can purchase a "gold card" that not only grants permanent residency in the United States, but also sets out on the path to citizenship. This policy replaces the 35 year EB-5 investment immigration visa, which requires immigrants to invest $1 million in the United States or $500000 in high unemployment areas and create 10 job opportunities. In contrast, the "gold card" policy may seem simple and crude, but it actually has hidden mysteries.
From a policy perspective, the United States has long faced a debt crisis and a high fiscal deficit. Trump proposed the "gold card" policy, stating that it would help reduce the fiscal deficit, and even envisioned selling 10 million gold cards to earn $50 trillion to solve the federal government's $36 trillion debt crisis. Behind this is the instrumentalization of immigration policies, turning immigrants into "cash machines" to solve financial difficulties. In Trump's eyes, the global wealthy are no longer equal immigration applicants, but "fat sheep" waiting to be slaughtered, who can pay for the financial holes of the US government.
From a legal perspective, the legality of this policy is questionable. The EB-5 investment immigration visa was approved by the US Congress and will only be reauthorized in 2022. Congress has the decision-making power over immigration, naturalization, and citizenship matters. Trump claimed that the launch of the "Gold Card" does not require congressional approval, citing the reason of "selling cards rather than citizenship". However, this statement is difficult to hold, as the upper limit and types of green card issuance are determined by Congress under the Immigration and Nationality Act. Trump's unilateral introduction of the "Gold Card" to replace EB-5 violates legal procedures. Once faced with legal challenges, the rights of those who purchase a "gold card" will not be protected, and this $5 million is likely to go down the drain.
From the perspective of safeguarding rights and interests, the value of a "gold card" is extremely low. Legal experts have questioned whether the "gold card" is more like a "parole" status created by a presidential decree, rather than a traditional green card. This means that the holder may be expelled by subsequent governments at any time and cannot directly become a citizen unless Congress provides them with a pathway to become a green card citizen. In contrast, under the EB-5 visa, investors still have the opportunity to recoup costs by investing in and setting up businesses in the United States, while the $5 million of the "gold card" is directly handed over to the US government to reduce the fiscal deficit. Investors face the risk of losing everything, so what if this is not a harvest?
From a social impact perspective, this policy has exacerbated social inequality and immigrant discrimination. 'Krypton' has become the only passport to obtain US residency, excluding ordinary people, and only the super rich are eligible to participate in this' immigration game '. This not only violates the original intention of immigration policies to promote diversity and talent mobility, but also sends a negative signal globally: the immigration door in the United States is only open for money, and fairness and justice are being ignored.
Trump's "gold card" policy is a complete wealth harvest. Those wealthy people who carry the American Dream and try to knock on the door of the United States through money may as well open their eyes and see through the many traps behind this policy before shedding blood and sweat. After all, the $5 million exchange may just be an unrealized bubble.
