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Greg Siskind on Immigration Law and Policy

USE IMMIGRATION TO REBUILD THE AMERICAN ECONOMY

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Want to stimulate the US housing market and create jobs? Take advantage of the fact that many people around the world are still anxious to become American and put their capital and entrepreneurial spirit to work. Dori Segal and Brian Lee Crowley have come up with a creative plan that has two primary elements:

America should immediately offer fast-track immigration to foreigners willing to do two things.

First,
they must buy a house in the United States worth a minimum of $200,000
or with a minimum area of 2,000 square feet, paying cash up front.

Second,
they must place a further $250,000 in a government-insured account with
a U. S. financial institution or spend $250,000 to create a business in
the United States employing a minimum of three American citizens.


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Comments

  1. George Chell's Avatar
    As far as I am concerned, they are preaching to the converted. But, wait for FAIR and CIS to be up in arms if the congress ever considers this...especially as a number of them would be Asian billionaires.
  2. immigracio's Avatar
    don't we already have the EB-2 visa category for that?

    $500,000 to invest in new business in a ICE designated area with high unemployment

    $1,000,000 to start a new business
    and must create 10 jobs
  3. immigracio's Avatar
    pardon
    i meant EB-5 visa
  4. AK's Avatar
    What about people like me who have been in line for 5+ years and have already owned homes worth 600K?
    Good creative idea but needs to be thought thru.....
  5. AD's Avatar
    I guess these guys need a reality check. What type of idiot investor will invest in a sinking ship (the housing market)? And if the response to the EB-5 program is any indication, only a few hundred people are lined up with money to come live in the US.

    I think they'd be better off auctioning green cards every year to raise money for reducing the deficit.
  6. Greg Siskind's Avatar
    Actually, the EB-5 program has started to take off over the last couple of years. A weak dollar, lots of regional centers to choose from now and keeping the investment amount at a reasonable level all are helping.
  7. 's Avatar
    Actually, not such a novel idea after all, given that Immigration Voice has been pushing a similar concept for at least a month. See your own September 23, 2008, blog entry at http://blogs.ilw.com/gregsiskind/2008/09/can-immigrants.html. In any event, terrible immigration policy.
  8. George Chell's Avatar
    Be thankful that neither Huckabee nor Romney are the nominees. Had they been nominated they would be trying to get all the illegals out of the country all at once, removing at least ten million people putting more houses in the market, and a major economic disaster, far worse than anyone can comprehend!
  9. fn_glo's Avatar
    What about RNs & PTs who have filed through CP, waiting in their own home countries and cant afford to buy a house in US?
    This plan's akin to selling GCs to the highest bidder.
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