The Real Value of American Citizenship?

President Trump and the Commerce Department have put a price on a pathway to citizenship for the world's wealthiest. Is $5 million actually a bargain?

Dear Fellow Expat:

The latest outrage or celebration in Washington comes from the brain of President Donald Trump. Surprise, surprise.

This week, Trump set off headlines again with a plan to sell "$5 million gold card" resident permits with a pathway to citizenship.

The op-eds in response are saying what you’d expect.

That this plan makes America less safe, that it’s a gift to Russian Oligarchs, or that it’s unfair and inequitable.

It’s incredible how fast the outrage starts - as if there was some group in Washington that tracks the White House’s policy ideas and then begins an all-out media assault on them.

(Oh yeah, that’s right. I used to work for one of those outlets in Washington.)

But the Commerce Department’s plan got me thinking…

There’s a question I want to try to answer on the back of an envelope.

What is the real financial value of American citizenship?

This question isn't merely academic.

The global market for "investment migration" is expanding.

Countries like Malta and St. Kitt…