Why We Shouldn't Be Selling the Right to Live in America
source: http://www.huffingtonpost.com/robert-reich/foreign-homeowners_b_1031417.html
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- kvb1
- added this
Schumer, while a Democrat, s really interested in Wall St's bottom line at the expense of Americans in general. This is a BAD bill putting even more wealth in the hands of the rich, and the rich of foreign countries. This would be a form a illegal immigration expansion, if it were not for the fact that it is geared to the rich.
"America is having a fire sale. Why not sell wealthy foreigners the right to live here, too?
That's the notion behind a bill introduced last week by Republican Senator Mike Lee of Utah and Democrat Senator Charles Schumer of New York: Stoke demand for American homes by allowing foreign nationals to buy them. In return, give foreigners the right to live here (although not work here).
The price? At least $500,000 cash. It could be one piece of real estate costing $500,000 or more, or several, of one would have to be worth at least $250,000.
Presumably, this would help homeowners by boosting demand. "This is a way to create more demand without costing the federal government a nickel," Schumer told the Wall Street Journal."
"America is having a fire sale. Why not sell wealthy foreigners the right to live here, too?
That's the notion behind a bill introduced last week by Republican Senator Mike Lee of Utah and Democrat Senator Charles Schumer of New York: Stoke demand for American homes by allowing foreign nationals to buy them. In return, give foreigners the right to live here (although not work here).
The price? At least $500,000 cash. It could be one piece of real estate costing $500,000 or more, or several, of one would have to be worth at least $250,000.
Presumably, this would help homeowners by boosting demand. "This is a way to create more demand without costing the federal government a nickel," Schumer told the Wall Street Journal."
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- groups:
- Community
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- tags:
- Wall Street, Housing, Illegal Immigration, Wealth, 1 more
