Tuesday, December 2, 2014

Bring Us Your Rich

The United States will sell anything, including access to immigration visas for a $500,000 infrastructure investment.

The Pennsylvania Turnpike Commission is counting on 400 wealthy foreign investors, mostly from China, to provide $200 million for the $420 million project.

The rest of the money will come from federal and turnpike funds.

The heavily indebted Turnpike Commission is borrowing the $200 million from foreign investors under the federal Immigrant Investor Program that grants "EB-5" immigration visas to foreigners who provide at least $500,000 to U.S. projects that create 10 or more American jobs.
It's no longer:

"Give me your tired, your poor.  
Your huddled masses yearning to breathe free."

The America of 2014 is "Give me your investors, your wealthy.  Your landed gentry wishing to purchase access to our shores."  Who needs a receipt?

Update 12-13-14:  WSJ reported on rich foreigners purchasing visas via real estate investments