The Cato Institute has long advocated for a fee-based visa system akin to a gold card for immigrants. However, President Trump's introduction of a $5 million Gold Card program faces significant hurdles, namely his lack of legal authority to grant immigrant status and a probable low demand from potential buyers. While the concept may have merit, Trump's approach is deemed impractical, as it lacks both the necessary legislative backing and the interest from the estimated market of wealthy immigrants.
Selling legal residence to immigrants has merit, but Trump's idea won't get any takers.
The President lacks the authority to grant gold card purchasers lawful permanent resident status in the United States.
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