• If previous statements from Commerce Secretary Howard Lutnick remain true, then the United States could roll out its “gold card” program soon—an unprecedented initiative to sell US residency to wealthy clients in order to raise revenue.
  • To be sure, there has been much talk of these gold cards, but with no implementation to date. If it actually came to pass, the gold card program—or “Trump card,” as the president calls it—would be a novel revenue source for the United States.
  • The idea first came to the forefront in February, when President Donald Trump proposed selling U.S. residency for $5 million a person to draw down the national debt.
  • Predicting that they would begin selling cards in two weeks, Trump said in February, “If we sell 10 million, which is possible … that’s $50 trillion. That means our debt is totally paid off, and we have $15 trillion above that.”

Source: dailysignal.com