Why Trump’s plan to cut national debt by selling ‘gold card’ visas for US$5 million each won’t work

By Amalendu Misra, Professor of International Politics, Lancaster University

The US president, Donald Trump, is set to introduce a “gold card” visa that would allow wealthy foreigners to buy permanent US residency – and a path to citizenship – for US$5 million (£3.9 million).

Speaking at the Oval Office on February 25, Trump said: “I think it’s going to be very treasured. I think it’s going to do very well. And we’re going to start selling, hopefully, in about two weeks.”

US commerce secretary Howard Lutnick has

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