Buy a home, get a US visa, Senators propose • Hacker News Board

Re: Buy a home, get a US visa, Senators propose

#101

Post by pyre » Thu, Oct 20, 2011, 9:31 PM UTC

yummyfajitas wrote: post #74

temphn wrote: post #52

Earlier quoted context omitted.

America is broke. If you want to tax the rich you need to let them into the country. And people buying a house aren't that rich anyway. Besides, this is very similar to the immigration policy of Canada or Singapore, which also give points if you buy property and start a business in the country. Their economies are vastly outperforming ours and it might be worth emulating them.

Although Singapore is outperforming our economy (on a per-capita basis), Canada is not. Why do you believe emulating them will get us Singapore-like benefits rather than Canada-like harms? http://en.wikipedia.org/wiki/List_of_countries_by_GDP_(PPP)_...

1. The Canadian economy is largely based on exporting goods to the US or exporting natural resources world-wide.

2. When the Canadian dollar reaches par with the US dollar, the benefits of US companies doing things across the bordering Canada rapidly evaporates. This means that economies like Ontario start doing poorly, while economies like Alberta and British Columbia that have natural resources to export start doing better (well, at least when coupled with an increase in oil prices.. because the tar sands become viable).

3. A lot of money comes into the Canadian economy through the entertainment industry. There are huge tax breaks in Ontario (specifically Toronto) and BC (specifically Vancouver) for doing things there, in addition to the exchange rate (when the US dollar is riding higher).

Re: Buy a home, get a US visa, Senators propose

#102

Post by IgorPartola » Thu, Oct 20, 2011, 9:37 PM UTC

nobody314159 wrote: post #81

nobody314159 wrote: post #34

Earlier quoted context omitted.

But many of those graduates will be in law or medicine so having more of them in the country will lower the wages in those professions And many of the others are scientists and engineers - people who often believe in evolution.

Tell me - does Irony just mean "made of Iron" here?

For what it's worth, I did upvote you, but I think you are trivializing it a bit. My point is that there are alternatives, and I happen to think that my idea is pretty good; or at least good enough to share. At first your response did look like an attempt to shoot it down, but upon closer inspection I think you are just expressing frustration with the current system, if I am reading your comment correctly.

Re: Buy a home, get a US visa, Senators propose

#103

Post by nobody314159 » Thu, Oct 20, 2011, 9:51 PM UTC

impendia wrote: post #98

msg wrote: post #92

Earlier quoted context omitted.

people doing PhDs usually wind up doing bad research FTFY Seriously though, limiting it to STEM majors would goose academia in the right direction.

> Seriously though, limiting it to STEM majors would goose academia in the right direction. What is this supposed to mean?! If you don't know, humanities programs are being badly squeezed already. Some programs are being cut entirely. I have a friend who is earning her Ph.D. in comp lit, and she (with all of her colleagues) are seriously scared that her field will no longer exist in 20 years. And all this, despite th…

Many jobs require a degree.

Those jobs that only require you to wear a suit don't care what the degree is in.

Now if your future job only depends on your grade - not the subject which would you choose? Studying maths/physics/etc for 4years or doing psychology/media studies/american studies.

Re: Buy a home, get a US visa, Senators propose

#104

Post by impendia » Thu, Oct 20, 2011, 9:56 PM UTC

nobody314159 wrote: post #103

impendia wrote: post #98

Earlier quoted context omitted.

> Seriously though, limiting it to STEM majors would goose academia in the right direction. What is this supposed to mean?! If you don't know, humanities programs are being badly squeezed already. Some programs are being cut entirely. I have a friend who is earning her Ph.D. in comp lit, and she (with all of her colleagues) are seriously scared that her field will no longer exist in 20 years. And all this, despite th…

Many jobs require a degree. Those jobs that only require you to wear a suit don't care what the degree is in. Now if your future job only depends on your grade - not the subject which would you choose? Studying maths/physics/etc for 4years or doing psychology/media studies/american studies.

I don't know anybody that took nothing other than math classes for four years of undergrad... and I majored in math, and subsequently went to grad school in it.

Re: Buy a home, get a US visa, Senators propose

#105

Post by daniel-cussen » Thu, Oct 20, 2011, 9:57 PM UTC

OstiaAntica wrote: post #68

This is the type of unserious, policy-by-press release we've come to expect from the micromanagers in the U.S. Congress. First of all, housing is still overpriced, in terms of historic trends, in many markets. Second, this is yet another program for ICE, which cannot manage its current immigration visa portfolio. This idea seems particularly open to abuse, since the home could be bought with borrowed money. (Sure it…

We already sell/monetize US visas. You have to invest a few hundred thousand in a US-based business and you get a Visa. I believe the amount is 500,000.

Re: Buy a home, get a US visa, Senators propose

#106

Post by r00fus » Thu, Oct 20, 2011, 10:00 PM UTC

mixmastamyk wrote: post #29

andreshb wrote: post #21

Earlier quoted context omitted.

I don't see a problem in these being the only beneficiaries, right now, they are already getting EB5 visas if they invest in a business. This approach would be similar, except with the added benefit of solving the issue (or at least help) of the housing market. I think this is a really creative approach.

The problem with housing is that it is too expensive for the common man. Propping up prices artificially is not a solution.

It is for the financial elite. They want to OWN and let the "common man" RENT.

Re: Buy a home, get a US visa, Senators propose

#107

Post by mahyarm » Thu, Oct 20, 2011, 10:08 PM UTC

MiguelHudnandez wrote: post #46

127001brewer wrote: post #42

Earlier quoted context omitted.

"The only beneficiaries I can think of for this program would be rich capitalists from China and the Middle East ..." Actually, Canadians are largest percentage of foreigners buying homes in the U.S. at 23%.[1] [1] Canadians Warm to Phoenix, Wall Street Journal http://online.wsj.com/article/SB1000142405297020401060457659...

They would extend the offer only to those that spend half a million dollars on a home. I have a feeling that excludes most of the Canadians bargain hunting for property in Phoenix.

Canada has an over-inflated real estate market, especially in Vancouver, which is equal to the bay area or even more expensive and the best weather we can get within Canada is Seattle style around Vancouver. Canadians finding US houses attractive in these two cases is not surprising.

Re: Buy a home, get a US visa, Senators propose

#108

Post by mcrider » Thu, Oct 20, 2011, 10:14 PM UTC

prostoalex wrote: post #50

jellicle wrote: post #14

The only beneficiaries I can think of for this program would be rich capitalists from China and the Middle East who are exporting their gains and sinking them into foreign property already, and who would now get a fast-track for immigration as well. I guess Congress would like to get campaign contributions from these people (once you have a green card, you can legally make political contributions to U.S. politicians)…

Not like they don't have any other choice if this proposal doesn't pass, if you look at immigration patterns to Vancouver and Toronto. This would just put US in competitive position with other countries catering to these customers. Potential visa troubles are a non-trivial deal-blocker for many.

Are you referring to business class immigration? In Canada, its $800k, and you don't get a house ([http://www.cic.gc.ca/english/immigrate/business/index.asp]). But yeah, point.

Re: Buy a home, get a US visa, Senators propose

#109

Post by potatolicious » Thu, Oct 20, 2011, 10:18 PM UTC

impendia wrote: post #98

msg wrote: post #92

Earlier quoted context omitted.

people doing PhDs usually wind up doing bad research FTFY Seriously though, limiting it to STEM majors would goose academia in the right direction.

> Seriously though, limiting it to STEM majors would goose academia in the right direction. What is this supposed to mean?! If you don't know, humanities programs are being badly squeezed already. Some programs are being cut entirely. I have a friend who is earning her Ph.D. in comp lit, and she (with all of her colleagues) are seriously scared that her field will no longer exist in 20 years. And all this, despite th…

Don't be so surprised - it seems that haughty dismissal of all things non-technical is a trademark of geeky communities. See: reddit, slashdot, etc.

Re: Buy a home, get a US visa, Senators propose

#110

Post by teyc » Thu, Oct 20, 2011, 10:27 PM UTC

This is suited not for entrepreneurs, but wealthy retirees from overseas and also parents of rich overseas students who want to be with their children. This is especially if they can show proof of pension income and will not take up work in the U.S..

However, the US tax laws aren't particularly friendly to the super rich and wealthy. Once you are deemed resident (I read this from phodgen's blog) then you have to pay tax on all your income.