The ongoing discussion surrounding Golden Visa programs has expanded to include proposals for a flat tax on migrant income in the United States. George Mentz, a finance and management thought leader, advocates for a 30% withholding tax on migrant earnings, which would allow them to work legally in the U.S. This revenue could be allocated to support social programs, including healthcare and education, addressing the estimated costs of $800,000 to $1 million for raising new children in the U.S. [558f27f7].
Current American workers contribute about 25% of their income in local taxes, while unauthorized migrants significantly bolster sectors such as agriculture, construction, and hospitality. Mentz's proposal includes an online registration system with the IRS for provisional work permits, aiming to create a mutually beneficial relationship between migrants and the U.S. economy [558f27f7].
The ethical rationale behind this proposal emphasizes the economic contributions of migrants and the potential for poverty alleviation through targeted revenue allocation. However, challenges remain regarding the enforcement of compliance and the risk of encouraging illegal immigration [558f27f7].
Globally, successful visa programs in countries like Malta, Cyprus, St. Kitts and Nevis, Greece, and Portugal serve as examples for potential implementation in the U.S. [558f27f7]. Meanwhile, interest in Golden Visa programs continues to rise, with European options like Greece's €250,000 investment and Portugal's €168,000 residency program attracting attention from investors worldwide [06d7fa4].
As Indonesia introduces its own Golden Visa scheme, offering residency for investments starting at US$350,000, concerns about land ownership and local protests have emerged. The Indonesian government aims to issue 1,000 golden visas this year, primarily targeting applicants from countries like Singapore, Japan, and China [0873b898].