US Economy: Is Trump’s “Gold Card” A Bait To Write Off Burdening US Debt?

Donald Trump is leaving no stone unturned to strengthen the US economy and is exploring all sorts of ways to uplift the nation’s economic stance. In this wake, Trump has launched a new “gold card” for immigrants, allowing them to purchase the card for $5 million. This card will enable outsiders to live in the US while allowing them to avail themselves of US citizenship later on. However, Trump’s Gold Card idea has gained widespread criticism, with many touting the move as a strategy enabling “only” wealthy immigrants to come to the US. At the same time, Trump was noted stating how this gold card might be the ultimate way to help shake off the mounting US debt. What does this mean? Let’s find out.

Trump Golden Card: What It Means?

Donald Trump recently announced his novel “gold card,” a venture that would allow immigrants to purchase US citizenship. Trump has priced the gold card at a whopping $5 million, with hopes of stabilizing the US economy and, at the same time, helping the US shed off its mounting debt levels.

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Sharing more details about the novel gold card, Trump shared how the aforementioned innovation may help attract reputable talent into the US.

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Trump later shared how this development may also help companies recruit dedicated personnel in the space.

Monetizing Citizenship: A Method to Reduce US Debt?

In one of his statements, Trump shared a rough breakdown of his latest gold card strategy. The US president confidently shared how if he managed to sell a million of these gold cards, the revenue accumulated would be $5 trillion. He later shared that if he can sell a minimum of 10 million gold cards, this would generate a revenue worth $50 trillion. This strategy would ultimately help the US economy pay off its mounting US debt at a rapid pace.

TRUMP ON THE NEW "GOLD CARD": "If we sell a million – that’s $5 trillion… if we sell 10 million, that’s $50 trillion. That means our debt is totally paid off, and we have $15 trillion above that."