Trump Tower Funded by Rich Chinese Who Invest Cash for Visas

Bloomberg | March 6, 2016 | Jesse Drucker

[reaganaut1]

No quote from Bloomberg allowed, story here.

[reaganaut1]

National Review commentary: Guess Which Presidential Candidate Is a Big Fan of EB-5 Visas?

[MNJohnnie]

Ted Cruz? He sure is fond of the other visa programs, why not this one?

http://www.cruz.senate.gov/?p=press_release&id=137

Sen. Cruz Presents Measure to Strengthen, Improve Legal Immigration
Offers amendment to increase H-1B visas to help improve, retain high-skilled labor force
May 14, 2013
|
press@cruz.senate.gov / (202) 228-7561

WASHINGTON, DC – U.S. Senator Ted Cruz (R-TX) today presented an amendment to the Gang of Eight immigration bill that would improve our nation’s legal immigration system by increasing high-skilled temporary worker visas, called H-1B visas, by 500 percent. The measure would effectively address the needs of our nation’s high-skilled workforce by helping meet the growing demand for workers in the science, technology, engineering, and mathematics (STEM) fields. It will also make block grants available to states to promote STEM education efforts and increase domestic STEM professionals. The committee voted against the amendment 4 to 14 with every Democrat voting against it on a party-line vote.

“I strongly support legal immigration. Legal immigration is a fundamental pillar of our nation’s heritage, and I was pleased today to offer legislation that would have improved and expanded legal immigration by dramatically increasing the cap for high-tech temporary worker visas. This amendment would not only improve the current system, but would also encourage economic growth and create new jobs in America. There is currently a serious shortage of workers in the fields of science, technology, engineering, and math, yet every year we send thousands of high-tech graduate students back to their home countries to start businesses and create jobs. This makes no sense. I’m disappointed in the committee’s vote to reject expanding high-tech immigration. Although the Gang of Eight’s bill makes a modest step towards improving high-tech immigration, it does not go nearly far enough. There is no reason to arbitrarily cap high-tech visas at 110,000 when these jobs are going unfilled. We need economic growth here and now.”

Sen. Cruz’s amendment would:

Immediately increase the H-1B cap by 500 percent from 65,000 to 325,000.

To truly fix our broken immigration system and take into account our nation’s economic needs, we must put more emphasis on increasing employment-based immigration. There is a current shortage of qualified high-skilled workers in the U.S., with an estimated 230,000 advanced-degree STEM jobs going unfilled by 2018.
Additionally, more H-1B workers mean more jobs for American workers – according to a study by the American Enterprise Institute, for every additional 100 H-1B workers, 183 jobs are created for U.S. citizens.

Help retain the high-skilled workers that are trained in the U.S. by allowing “dual intent.”

This would allow foreign students at U.S. colleges and universities to enter the U.S. on a temporary H-1B visa if they intend to get a Green Card once they complete their studies.
Currently, about 300,000 students come to America annually to be educated, but are required to return home upon completing their education.

Create block grants for states to promote STEM education in their public schools by raising H-1B fees.

These block grants will encourage educating our children in these high demand fields, opening more doors of opportunity to future generations. According to the Joint Economic Committee, between 2010 and 2020, demand for STEM graduates is expected to grow by 17 percent, while employment for those graduates will increase only 14 percent, partly because American graduates are not available or qualified to fill these jobs.
The block grant program would be funded by raising H-1B fees from $750 to $1,250 for businesses with fewer than 25 employees, and from $1,500 to $2,500 for those with 25 or more employees.

[WellyP]

Chinese spend money in the States....good!

[mabelkitty]

Throw out bombs of half-truths and out of context charges, force candidate off message to defend, rinse, repeat.

I am so over this.

[datura]

EB-5 requires a $500,000 investment in an approved project. The project must create US jobs.

You have an issue with that?

[kabar]

These block grants will encourage educating our children in these high demand fields, opening more doors of opportunity to future generations. According to the Joint Economic Committee, between 2010 and 2020, demand for STEM graduates is expected to grow by 17 percent, while employment for those graduates will increase only 14 percent, partly because American graduates are not available or qualified to fill these jobs.

Total lie. We prioduce more STEM workers every year than we have jobs in those fields. There is no shortage of STEM workers.

[mazda77]

Key word here is WORKERS. Not people who show up to get a paycheck. I have personal experience with that game.

[aMorePerfectUnion]

Legal program in the USA...

[txrefugee]

Selling US citizenship to the highest bidder is fine with politicians and businessmen. The Chinese are stupid for paying for it when Central Americans can get on top of a train and ride across the southwestern “border” for nothing and get better benefits than U.S. citizens.

[SubMareener]

or qualified to fill these jobs
- - - - - - - -
So you think that the PC “equal outcomes” culture has skipped the STEM disciplines and these students are really qualified to do science, technology, engineering and mathematics? Have you interviewed an American for a STEM job recently?

[TexasCajun]

I've seen pictures posted of all the Trump buildings and thought wow, that's impressive.

Till I learned the majority of them simply license the Trump name and Trump has no skin in the game.

...just collects a check.

Smart Business, I'll agree. ..but not like he owns all the buildings with his name on them.

[SueRae]

I sure don’t. Thanks for the clarification. I have no problem with free trade as long as it is fair. The reciprocity piece is what is largely missing. If the requirement is to create U.S. jobs, I am A.O.K. with that.

[Nifster]

So what? Trump got other people to fund his projects. He is not in charge of visas the gubbmint is

[Nifster]

A visa is not citizenship

[JohnBovenmyer]

Couple odd things in the source beyond the basic story:

First, a statement that Trump has actually built few "buildings" the past two decades. Instead he's just been licensing his brand to other developers. I'd hope this implies he's been busy, personally, developing things other than buildings, rather than sitting back just collecting license fees. That wouldn't fit with my image of the Donald.

Second, the odd coincidence that both Trump and Clinton's daughters married the son a Democrat bigwig convicted felon, a real estate developer in Ivanka's case and my former congresscritter in Chelsea's. Can't blame Donald or Hillary for this, but considering the difficulty in actually being convicted for acting Democratic it makes for an odd footnote.

[gov_bean_ counter]

He quit building things over 10 years ago and went to minimal financing and name licensing. I guess the banks began to consider him a bad risk. Four bankruptcies will do that to you.

[CA Conservative]

Chinese spend money in the States....good!

So if you discovered that the Chinese were pumping millions of dollars into a project associated with Chelsea Clinton's husband in exchange for visas, you would have no problem? I seem to remember when Chines money going to the Clinton's when he was running for president was a BAD thing.

[11th Commandment]

Ok- I will be a Trump apologist here, even though I don't support him. Bring all the Chinese rich to the US! why, they don't buy property with Yuan, but with smuggled US Dollars!!

Why Are China's Rich Moving to the US? | China Uncensored

[kabar]

So you think that the PC “equal outcomes” culture has skipped the STEM disciplines and these students are really qualified to do science, technology, engineering and mathematics? Have you interviewed an American for a STEM job recently?

If we had a shortage of STEM workers, their wages would be going up, not be stagnant. It is cheaper to bring in foreign workers and it depresses wages across the board making STEM jobs less attractive.

Americans can do any job and there is an ample supply of them. This is all about cheap exploitable labor. When the companies bring in foreign workers, they must work for those companies or else they have to leave. Sponsorship is a control over foreign labor, which employers don't have with American workers.

The Impact of "High-Skilled" Immigration on U.S. Workers

Is There a STEM Worker Shortage?

[SubMareener]

Figure 7 shows inflation adjusted wages growing slightly since 2000, but you are saying that is depressed from what it would be if the foreign workers were kept out of the market?