The post The Trump $5M US ‘gold card’ visa scheme could pay off the national debt appeared on BitcoinEthereumNews.com.

On Tuesday, President Donald Trump publicized a plan to sell “gold cards” for $5 million each, granting wealthy foreigners permanent residency and an “easier” pathway to US citizenship. Europac chair Peter Schiff sees the idea as a way to pay the national debt. Speaking to reporters at the White House, Trump said the initiative would attract high-net-worth individuals who would contribute to the American economy through spending, taxation, and job creation. “Wealthy people will be coming into our country by buying this card,” Trump stated. “They’ll be wealthy and they’ll be successful, and they’ll be spending a lot of money and paying a lot of taxes and employing a lot of people.” In a February 25 X post, Schiff said the proceeds from selling the gold visas would cover America’s $36.22 trillion debt. “If a US passport is really worth $5 million, Trump only needs to sell about 7 million of them to pay off the National Debt.”  President Trump: Gold cards will help wealthy investors get US citizenship Trump told reporters he plans to replace the EB-5 immigrant investor visa program with the newly proposed “gold card” system. The EB-5 initiative grants permanent residency to foreign investors whose funds create or preserve US-based jobs and has been in place since 1990. “It’s going to give you green card privileges plus its going to be a route to (American) citizenship, and wealthy people would be coming into our country by buying this card,” Trump remarked, adding that in two weeks, more details about the gold visas will be released. Flanking the president in the Oval Office, Commerce Secretary Howard Lutnick bashed the existing scheme, coining it as “full of nonsense, make-believe, and fraud” and just “a way to get a green card that was low price.”  He also said the…

---

Filed under: News - @ February 26, 2025 2:27 pm