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Unknown A
The generalized approach that Trump is taking is draw money and investment to the United States. Draw smart people to the United States. That is not a bad approach.
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Unknown B
Trump was right about everything.
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Unknown A
President Trump has made a new proposal with regard to immigration. One of the big questions with regard to immigration is how do we bring the best immigrants here? Very few Americans, right, left, or center, want to bar all immigrants from the United States. There are some. That is a very low number. Most Americans do not want vast swaths of illegal immigration people. People who are impoverished, who are coming to the United States, who are not going to actually adhere to American culture, they're not going to assimilate, they'll be dependent on welfare. That's not something most Americans want. However, what most Americans want is some way of finding the best immigrants and bringing them to the United States to enrich our economy and to make America stronger. And again, this is a perfectly rational calculation. The reality is it's very difficult to make the case against full scale, like any immigration at all, when President Trump has Elon Musk standing next to him.
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Unknown A
Elon Musk is an immigrant. If you look at the founders of the Magnificent Seven, right, the top stocks in the stock market, several of them, the CEOs of these places, are immigrants to the United States. Again, this does not mean that there needs to be some sort of antipathy between domestically born Americans and immigrants coming to the United States. Far from it. One of the great strengths of the United States has been its status as a powerhouse commercial republic that basically draws like a magnet the most talented people here in a competitive global environment. Of course we want the smartest people coming here. Well, President Trump actually understands this on a root level. Again, there's all sorts of battles that sort of simmer underneath the lid of the pot in MAGA world between immigration restrictionists and people who are a little softer on immigration. But the reality is that President Trump, in the end, is a business person.
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Unknown A
And because he's a business person, he. He understands the implications of saying no more immigrants. So one of the things that he's doing now is he's proposing that wealthy individuals pay $5 million for what he calls a gold card that would grant them permanent United States residency, ending an existing program that offers green cards to people who invest in the country. He said, quote, wealthy people will be coming into the country by buying the card. They'll be wealthy, they'll be successful. In other words, if you want to come here and invest like, 5 million bucks to come to the United States, that seems like a Pretty good investment in the American taxpayer. Here's President Trump explaining, we're going to.
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Unknown B
Be doing something else. It's got to be very, very good. We're going to be selling a gold card. You have a green card. This is a gold card. We're going to be putting a price on that card of about $5 million, and that's going to give you green card privileges. Plus, it's going to be a route to citizenship. And wealthy people will be coming into our country by buying this car. They'll be wealthy, and they'll be successful, and they'll be spending a lot of money and paying a lot of taxes and employing a lot of people. And we think it's going to be extremely successful.
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Unknown A
Now, again, there's this sort of weird debate that was happening just a few months ago, you'll recall, about H1B visas and foreigners coming to the United States to work in tech. And it sort of devolved into the world's stupidest version of that debate, which was, there should be no immigrants at all. Immigrants are bad, and we should involve everybody in the world in our immigration process. And that's really a very stupid version of the debate. There are many practical things you can do to make immigration more restrictive while drawing the best and brightest to the United States. And it is in the interest of America, again, to do that, because while autarky sounds fun, meaning the idea that we can produce everything in the United States, the reality is that smart people are going to go somewhere. And if smart people don't go to the United States, they will go to countries that oppose the interests of the United States.
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Unknown A
In all likelihood, President Trump says that companies like Apple could pay 5 million bucks to get approval for highly skilled workers to reside in the United States. And he estimated the United states could sell 1 million or more gold cards. He says that it would replace the EB5 system, which was launched in the 1990s to channel foreign investment into economically marginalized areas and create local jobs. It offers green cards to people who invest at least 900 grand, or $1.8 million, depending on the area, in into qualified US projects and show they've created at least 10 jobs. Spouses of investors and their kids under 21 would also get green cards. The program has had cases of fraud. Obviously, this always happens. I mean, any government program has a lot of fraud. We have to do a better job of policing that, obviously, which is why you hope that Doge is going to do exactly that.
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Unknown A
Under EB5, every country gets no more than 7% of the program's 10,000 visa annual quota, which creates long backlogs for countries which large numbers of applicants, especially China. Now, again, that seems to me a really dumb way of doing it. I'm not sure why we should have sort of quotas by country as opposed to individually looking at candidates and determining whether or not they should come in. Why should there be a quota on, say, France or England or Germany or anywhere else, as opposed to just doing it on the basis of merit? Commerce Secretary Howard Lutnick, who was at the Oval Office on Tuesday, according to the Wall Street Journal. Trump criticized that EB5 program pointing to fraud. He said people who apply for the gold card would be vetted. We're making sure they are wonderful world class global citizens. Well, presumably the idea would be that they are wonderful world class global citizens who want to become American citizens.
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Unknown A
Trump, he was asked about if Russian oligarchs would be eligible. He said, I know some Russian oligarchs who are very nice people. And then Lutnik started laughing and Trump said, they're not as wealthy as they used to be. Now, again, it is unclear exactly how Trump would be able to quote, unquote, unilaterally change this law. But the generalized approach that Trump is taking is draw money and investment to the United States. Draw smart people to the United States. That is not a bad approach. That is not a bad approach. Again, those who are arguing otherwise, if we're not talking about failures of cultural assimilation, I get that and I'm with you. If somebody wants to pay $5 million to come into the United States and promote Qatari propaganda, for example, the answer should be no. If somebody wants to come in from China and pay $5 million to end up stealing IP on behalf of the Chinese, the answer should be no.
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Unknown A
If you are talking about somebody who will make an excellent American citizen, we go through vetting. And again, this is a very small program. It's like 10,000 people a year. If you're talking about vetting those people and they bring their money and they bring jobs and they bring their. Know how. I fail to see how this is a terrible thing for the United States. I think President Trump is correct about all this. By the way, President Trump was having fun in the Oval Office yesterday. He started handing out hats that read, trump was right about everything.
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Unknown B
Give me all of them. Look, yes. See that? Trump was right about everything. Just came in. Somebody sent. I said, this was sent in by a fan. I said, I think we should make some of them right. But we were pretty much, you want one?
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Unknown A
I'll pass.
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Unknown B
Are you allowed to take one?
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Unknown A
Probably not.
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Unknown B
He'll consider it. I know him well. He's sort of a stiff. Brian, you're not a stiff. You're sort of a stiff guy. He'll take other things, but not a free hand. Always say yes to the president. Always say yes to the president. Would anybody like one?
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Unknown A
I mean, hilarious, hilarious stuff. Again, look at the image of this. And then he's got like a map behind him that says Gulf of America. Trump is a world class troll. He always will be. The greatest troll in world history, probably President Trump. And second is the guy who's leading Doge, Elon Musk. Speaking of which, Elon Musk's super controversial email. You know, the what did you do last week email, which seems not all that controversial to me. It may not be the sort of most sophisticated way to determine who is a good government employee and who is not, because you can just go to ChatGPT and have it type out five things you did last week. Or possibly you're in a department where actually you can't say publicly what it is that you did last week. But the idea this is some sort of massive attack on the federal bureaucracy for people to actually explain what they did last week.
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Unknown A
I mean, if I asked any of my employees, name me five things that you did yesterday, they would probably be able to name me five things that they did yesterday. Just because you're on the taxpayer dime does not mean that you should be basically held as some sort of immune person when it comes to accountability. Apparently over a million federal employees have already responded to last weekend's controversial email. The White House, eager to present the email demand as part of its coordinated attempt to dramatically scale down the size of the federal government, made that announcement in Tuesday's press briefing. According to Politico, Caroline Levitt, the White House press secretary, said all federal workers should be working at the same pace as President Trump is working and moving. This is to ensure federal workers are not ripping off American taxpayers, by the way. That is literally one third of the federal workforce.
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Unknown A
That is a big number. Again, there's been a lot of confusion as to whether people are, quote, unquote, resigning. Now, they could theoretically be fired. Trump could theoretically fire them, but there are protocols and procedures for firing them. The email said failure to respond to this email will be considered a resignation. That's not how resignations work. But again, the sort of general approach here, which is to make the federal bureaucracy scared for their jobs seems to be a useful thing. And in the absence of a large enough DOGE departments go through every single one of those 3 million federal employees and determine who's a good employee and who's a bad employee. This is sort of a self winnowing process. That is not a terrible idea. Well, that's all for now folks. Don't forget to like subscribe and comment your thoughts down below. Be sure to check out all of the other great content on my channel.
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Unknown A
I'll see you here next time.