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As markets melt down, Trump touts $5m gold card for wealthy immigrants (featuring his face)
(www.independent.co.uk)
Wasn't it $1 million a week ago?
this post was submitted on 04 Apr 2025
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Looks like monopoly money.
AI generated
One nation under Grok
Grok Damnit.
Ew
Why would anyone with that much money want to come here permanently, and get the IRS all up in their business? The US is the only large country that taxes its citizens on their worldwide income (edit: regardless of residency status)
Yes, I know Republicans are always interested in reducing taxes on the rich, but right now these hypothetical rich people who want to come here have zero tax liability. All that $5m does is subject them to intrusive questions about where they are making their money every year when they file taxes.
The US is the only large country that taxes its citizens on their worldwide income.
That’s untrue. As a Canadian, I know we do, and I believe we’re far from alone. I don’t know why people keep perpetuating this myth.
Canada will not tax you if you are a citizen, but no longer reside in Canada. the US will.
Source: https://en.m.wikipedia.org/wiki/International_taxation
Look at the map. Very few countries tax all citizens regardless of their residency in their worldwide income like the US does
the US will.
But there's a US$130,000 exemption (the "foreign earned income exclusion") and tax treaties with many countries, so not many people actually need to pay extra tax to the USA. Realistically, the only time you need to is if you earn more than US$130k and the country you live in has a lower tax rate than the USA.
What hurts much more is the "exit tax" when you leave the USA (as a green card holder after 7 years) or renounce your citizenship.
I'm assuming if someone had $5m just lying around to buy citizenship, their income is well beyond the $130k exemption
Sure, that's completely true but unrelated to what you said in your original comment. I quote:
Why would anyone with that much money want to come here permanently
You were not talking about non-resident citizens, so stop moving the goalposts.
Plus, the US has one of the lowest tax rates of any of those "large countries" you talked about. So unless a US citizen resided in a country without a tax treaty with the US (there's not many of them), they're almost certainly being charged enough tax in their resident country that they pay $0 to the IRS on non-USA income.
I was talking about non-residents, that's why I edited the comment. Resident non-citizens presumably have jobs here, and are already paying tax.
Being born here is increasingly an albatross to bear your entire life.
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They should have to pay me $5m to own a card featuring his ugly mug
If I was rich enough to do that I'd pay an extra 5 million to not have his ugly fuckin face on it.
Doesn't make sense. This should obviously be an NFT. Did the intern they tasked with this not know how to setup a new memecoin?
I would highly recommend you go to almost any other country than this one right now.
Every time stuff like this happens .... it doesn't change how people feel about Turnip
Every time stuff like this happens ... I think about how stupid the American people are. They have a clown for a leader, running the country like a circus for sale and they put up with it every time.
AmeriCo., green cards now on sale!
Get 'em while they're hot!
Buy the ticket, take the ride, Murica!
I really want to setup a museum of all the crazy crap Trump has sold, or put his name on. Steaks, sneakers, diplomas, deeds to apartments in his buildings, those stimulus checks with his fake signature on them, everything.
It would be crazy to see it all next to each other. Along with how much he made or lost. It'll be the most perfect museum in the country. Some say even the world maybe.
Firstly, does he really think it's going so great over there that wealthy people think it's worth $5M to get in? More likely they will just wait for the fire sale and buy up the land cheap.
Second if you have 5 mil, do you need to go there for work?