And when you buy one you get a complimentary membership to Trump steaks. Trump steaks, when you want to eat ass without actually eating ass.
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.
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.
Good news for rich people, this article says they won’t be taxed like a citizen
Unlike American citizens, gold card holders will not have to pay taxes to the U.S. government on their overseas income.
Their source is CNBC
That probably explains why he wants to buy one despite being a citizen already. I’d guess he thinks it’ll mean he wont be taxed on overseas income either. Figuring out whether he’s currently paying any, and if so how much is left as an exercise for the interested reader.
Shit, that is a good deal, then. And probably exceeds Trump’s authority in what the can offer, but when has that stopped him before?
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
Being born here is increasingly an albatross to bear your entire life.
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.
Ah yes, pay $5m to live where other people get deported despite their legal status. Only a fucking moron will get one.
If it’s still honored, it would appreciate in value in four years.
You’re just mad trump discovered an infinite money glitch for government revenues. Sell someone a visa for $5 mil, kick them out for no reason because you can, make them pay another $5 mil to come back, rinse and repeat.
I would highly recommend you go to almost any other country than this one right now.
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It has his face on it, so it already has an ass on it.
no, it’s on the front
Country for sale! Buy now!
And it’s a going out of business fire sale.
Held in a flaming dumpster
Hey, be fair! We’re not on fire at the moment.
Speak for yourself, flameless.
Wasn’t it $1 million a week ago?
That was before the tariffs lol
Why not let Americans sell their citizenship for $5m instead.
The world is just waiting to pick up well educated americans because they keep electing clowns.
Now that’s an idea! Hell, I’ll do it for 3 mil
Best I can do is $7.50 USD and whatever meal you want from Taco Bell
That’s higher than federal minimum wage! You generous bastard 😄
How about 3 fiddy?
That’s some capitalism I can get behind! Free the citizenship market!
There should be fair competition in the market the government should not be the only one that can sell citizenships. Or at least we should be allowed to sell it back to the government for $5 million who can then sell to someone else.
I’d do it in seconds.
Yup, you can live like a king with that money in many other parts of the world.
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.
This is our actual present reality, people. Resist the urge to look away, it will still be there.
Holy fuck.
We’re so fucking cooked.
Many countries do this to bring in wealthy investors. In those countries there are requirements to invest in local economy, not sure about this one.
The wealthy use these to travel every couple of month, allowing them to skip residency taxes by never being anywhere long enough.
However a US one is just dumb, because US tax laws are one of the only ones that will tax you, as a resident, when you are not in the US. So the types of people who typically buy these won’t go near it.
Idk why dems don’t discredit this as “Desperately importing wealthy foreign elites”.
It doesn’t work.
The right would celebrate that it was ‘triggering teh libs’.
You can’t beat someone who is only playing to get a rise out of you.
Sure you can. When Trump breaks them and makes them poor, they’ll have to stop trolling and get serious. A ton of them are starting to wise up and pressure their congressional representatives to do something.
Nope.
You vastly underestimate their hate.
When they’re broken, he’ll let them loose on the browns who get all the blame.
Exactly the same as happened during the first great depression.
Sure but they’ll stop trying to be silly and get more serious (albeit hateful).
As Chris Rock said, if a homeless guy has a funny sign, he hasn’t been homeless for long.
The analogy is apt, we are the guy with a job walking by in a suit, they are coming down from meth, desperate for their next fix, and they’re pulling out their knife.
Last time they went on a redneck rampage we lost 600k good Americans.
Doesn’t this need an act of Congress to enact?
Half the shit he’s done has required congressional authority.
Congress is full of fascist shit lickers and is fully complicit in all of these violations to the constitution. They could have impeached him weeks ago for setting up DOGE or enacting tariffs without congressional approval, instead they sit back and act like they can do nothing.
He’ll be a scammer till the day he dies.
like father like son, and his grandfather.
