Thursday, December 4, 2014
Well in this case there is a dollar amount necessary for entrance..
"Chinese investors have begun signing up to spend $500,000 each to help pay for a long-awaited connection between the Pennsylvania Turnpike and I-95 (in Philadelphia).
In exchange, the investors hope to get permanent residency in the United States for themselves and their families.
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.
The foreign investors and their families will get a quick path to legal residence in the United States, though they may lose money on their investment."
The brokers and lawyers will collect millions in commissions and fees, with each of the 400 investors paying $50,000 to the deal makers and $15,000 to the lawyers."
So many ironies..
Of course there's the irony that we're supposed to be a nation that opens our arms to the tired and poor and whatever else is on that Ellis Island poem, and yet like anything else from waiting to board a plane to visiting Disney World, those with money never need to wait in lines..
And then the irony that when it comes to the issue of illegal immigration, both political parties love it.. Democrats see them and their naturalized US born children as part of a new voting bloc, and Republicans love the dirt-cheap labor and they'll do the menial jobs many American blacks refuse to..
Let's say for simple math purposes a Chinese investor creates 10 jobs and each person hired is to make $37k annually.
Because salary is above $36,200, the tax rate would be 25% which in this example would equal $9,250
So each hire is essentially paying the federal government $9,250 ($92,500 for 10 employees) for the pleasure and privilege of giving 40-50 hours of their life to another entity; a 'boss' and have practically every aspect of their 9-5 lives controlled by others
Government makes money off the foreign investors desperate to come here trying hide their millions and billions from their native lands, the taxing of that money which while less than other nations is still a pretty penny, and they profit off the newly created work force who essentially work for free from January 1st until March 31st
Quite a good racket... Continuing..
"Similar EB-5 foreign-investor deals have provided funding for the Convention Center, the Temple University Health System, and the Comcast Center.
The turnpike deal was created by Joseph Manheim and other officials of the Swarthmore Group, a Philadelphia investment-management firm headed by James E. Nevels, a prominent Republican donor and fund-raiser."
Nevels is chairman of the board of the Federal Reserve Bank of Philadelphia
Oh yes.. The All-mighty, All-infiltrating Fed
It used to be during the US Civil War, the difference between an enlisted Union soldier and a Northerner free of such an obligatory burden was $300
Now the difference between an quick EZ Pass into this nation vs the obligatory burden of waiting one's turn and applying for citizenship the proper way is $500k or thereabouts..
Ah, what a country..
Posted by Susquehanna at Thursday, December 04, 2014