Behind 250000 people applying for immigration gold cards

On February 25th local time, Trump announced a new immigration policy - launching a $5 million immigration "gold card" to replace the current EB-5 investment immigration visa program. As soon as the news came out, the world was shocked, and what was even more shocking was that US Secretary of Commerce Howard Lutnick subsequently stated that 250000 people were already queuing up to receive this "gold card". Behind this phenomenon, there are many issues worthy of in-depth analysis, involving multiple levels such as the US economy, immigration policies, social equity, and global capital flows.

From an economic perspective in the United States, the Trump administration's launch of the "Gold Card" program is primarily aimed at filling the country's huge fiscal hole. The size of the US treasury bond has now reached more than 36 trillion US dollars, and the heavy debt burden makes the US government unbearable. Trump hopes to attract wealthy people from around the world to invest and obtain huge amounts of funds by selling his "gold card". According to the Secretary of Commerce's statement of 250000 applications, it will bring in over $1 trillion in revenue, which undoubtedly has great appeal for easing the financial pressure on the United States. If we can sell 10 million "gold cards" as Trump envisioned, we will get 50 trillion dollars in income, not only to pay off treasury bond, but also to make a big profit. From this perspective, the "Gold Card" program is a bold attempt by the US government to address its financial difficulties.

From the perspective of immigration policy, the "Gold Card" program has had a huge impact on the traditional immigration system in the United States. The United States has always boasted of a diversified immigration policy, emphasizing the attraction of global talent through various means such as technology and family reunification. However, the "Gold Card" program over commercializes immigration eligibility, turning money into a key factor in obtaining immigration status. Compared to the existing EB-5 visa program, the funding cost for the "Gold Card" program is five times higher, but it eliminates the requirement to create job opportunities. As long as the funding source is legally verified through background checks, the review period is shortened to six months, and approval is granted, a permanent green card can be obtained, and citizenship can be applied for five years later.

From a societal perspective, the "Gold Card" program may exacerbate the wealth gap and social conflicts in American society. A large number of wealthy people have flooded into the United States with their "gold cards". They have strong wealth and may trigger a craze in real estate, high-end consumption and other fields, further pushing up prices and squeezing the living space of ordinary people. At the same time, these new immigrants may have differences in culture, values, and other aspects compared to local residents. If they cannot effectively integrate, it may lead to social conflicts. Moreover, this' money first 'immigration method will also raise doubts among ordinary people about social fairness and reduce the credibility of the government.

From the perspective of global capital flows, the "Gold Card" program will have a significant impact on the global immigration market and capital flows. On the one hand, investors who were originally focused on the EB-5 visa in the United States now have to re-examine their immigration plans. Immigration agencies and project developers who rely on processing EB-5 visa services are expected to see a significant reduction in their business volume. On the other hand, the US "Gold Card" program may attract global capital to flow to the US, which could have an impact on the economy and immigration policies of other countries. For example, some wealthy individuals who originally planned to invest in other countries may instead apply for a US "gold card", which is undoubtedly a challenge for countries that rely on foreign investment.

However, this plan also faces many uncertainties. Firstly, the authenticity of the data of 250000 people queuing to apply is questionable. Foreign media such as The Independent have questioned the source of this data, as the application system has not yet been launched and it is unclear where the queue list came from. Secondly, the "Gold Card" program faces legal risks. The US think tank Cato Institute pointed out that immigration quotas and visa rules should be decided by Congress through legislation, and Trump's unilateral repeal of the EB-5 and introduction of the "Gold Card" may face legal challenges.

The phenomenon of 250000 people applying for immigration "gold cards" is a helpless move by the United States in the face of economic difficulties and a radical change in immigration policy. It reflects both the United States' thirst for funding and exposes issues with its immigration policies in terms of fairness and sustainability. Whether this plan can ultimately be successfully implemented and what profound impact it will have on the United States and the world are all worthy of continuous attention.