As part of his warmed-over jobs plan, President Obama is repackaging "Buy American" stimulus subsidies to help hard-hit homegrown businesses. At the same time, however, Congress is pushing to expand a fraud-riddled investor program that puts U.S. citizenship for sale to the highest foreign business bidders.
Call it the Buy America Cash-for-Visas plan.
As I first reported 10 years ago, the EB-5 immigrant investor program was created under an obscure section of the 1990 Immigration Act. The law allows 10,000 wealthy foreigners a year to purchase green cards by investing between $500,000 and $1 million in new commercial enterprises or troubled businesses. After two years, foreign investors, their spouses and their children all receive permanent resident status -- which allows them to contribute to U.S. political campaigns and provides a speedy gateway to citizenship. The program is set to expire in 2012.
On Thursday, the House Judiciary Committee's Immigration subpanel entertained calls to save the EB-5 law. Democratic Rep. Zoe Lofgren is sponsoring a bill to salvage the immigrant investor visas. The legislation (sponsored by open-borders Democrat John Kerry and Republican Richard Lugar in the Senate) also creates a second program with lower barriers to entry that would provide "start-up visas" for foreign entrepreneurs. They would be granted unconditional permanent-resident status if they create a government-determined number of jobs.
And there's the rub. Obama's make-believe math on stimulus jobs saved or created -- coupled with the snowballing $535 million, stimulus-funded Solyndra solar company bankruptcy scandal -- tells you all you need to know about Washington's credibility in picking economic winners and losers.
If the feds can't be trusted to invest government subsidies wisely in American companies, how can they possibly determine which overseas investors will be successful here? And if top U.S. loan officials have demonstrated such sloppy, politically driven disregard for financial due diligence on risky half-billion-dollar enterprises, how can immigration officials be trusted to better protect the national interest?
CONTINUED: http://www.gopusa.com/commentary/2011/09/16/malkin-the-cash-for-visas-program/?subscriber=1
Showing posts with label foreign money. Show all posts
Showing posts with label foreign money. Show all posts
Friday, September 16, 2011
Friday, October 22, 2010
President Obama isn’t the only Democrat to accept foreign money to influence polices in Washington. The government of Bermuda met with key members of the U.S. Congress, including Charles Rangel and G.K. Butterfield
Guest Column: People who live in glass houses shouldn't throw rocks
October 20, 2010 12:00 AM
Marvin Sparks
Guest Columnist
I guess President Obama has never heard the old adage — “People who live in glass houses shouldn’t throw rocks” — or he just assumed that his subjects would agree with everything he says without questioning his veracity. However, when the New York Times, ABC News, the Associated Press, and CBS start telling the world that his attacks against the Republican Party and the U.S. Chamber of Commerce are bogus, he might come to the astonishing realization that we are not as naïve as he thinks.
President Obama and the Democrat Party are accusing the U.S. Chamber of Commerce and the Republican Party of using foreign money to undermine elections. When Bob Schieffer, host of CBS’s Face the Nation asked David Axelrod, “Is this the best you can do?” Axelrod replied, “I don’t have to prove that they do; I just have to make the accusation and it is up to them to disprove it.”
Based on that logic, a person could make any outrageous claim they wanted and the injured party would be responsible for clearing their reputation. One would think that a normal, decent person would present some proof before making a malicious statement, but some have so little respect for the truth that they will say anything to inflict pain or discredit on another party.
Axelrod has firsthand knowledge of how an influx of foreign money can taint and influence elections. He has selective amnesia regarding the millions of dollars foreign contributors funneled into President Obama’s campaign. For example, the two brothers from Gaza who contributed $32,332.19, and the millions that poured in from countries from every corner of the globe. There were foreign donors with no addresses and names that were gibberish or fictitious. Faced with the prospect of massive investigations, board of elections members decided simply to ignore President Obama’s irregularities, and focus on John McCain’s bookkeeping error of $50,000, which turned out to be legal.
President Obama isn’t the only Democrat to accept foreign money to influence polices in Washington. The government of Bermuda met with key members of the U.S. Congress, including Charles Rangel and G.K. Butterfield, seeking their support for fiscal assistance that would assure Bermuda’s long-range future. Bermudan Premier Brown returned home and bragged about his influence with the U.S. Congress.
Rep. Butterfield co-sponsored a bill that would give Bermudian homeowners and businesses susceptible to hurricanes and floods tax credits and financial assistance. An amendment to the American Recovery and Reinvestment Act (stimulus) would set aside part of the $787 billion for hazard mitigation. Butterfield received a donation for his services. He also received donations from British Petroleum (BP), which is a foreign corporation.
Yes, foreign money does influence policies and elections, but the accusing finger should be pointed in the right direction regardless of party affiliation.
Marvin Sparks is a Snow Hill resident who has worked for the airline industry for more than 45 years and is currently a student at Lenoir Community College. You can reach him at ssparks747@aol.com. The opinions of the guest columnist are not necessarily those of The Free Press.
The Free Press guest columnist feature appears every Wednesday in this space. Would you like to be considered as a guest columnist? Contact Managing Editor Bryan Hanks at (252) 559-1074 or at bhanks@freedomenc.com.
October 20, 2010 12:00 AM
Marvin Sparks
Guest Columnist
I guess President Obama has never heard the old adage — “People who live in glass houses shouldn’t throw rocks” — or he just assumed that his subjects would agree with everything he says without questioning his veracity. However, when the New York Times, ABC News, the Associated Press, and CBS start telling the world that his attacks against the Republican Party and the U.S. Chamber of Commerce are bogus, he might come to the astonishing realization that we are not as naïve as he thinks.
President Obama and the Democrat Party are accusing the U.S. Chamber of Commerce and the Republican Party of using foreign money to undermine elections. When Bob Schieffer, host of CBS’s Face the Nation asked David Axelrod, “Is this the best you can do?” Axelrod replied, “I don’t have to prove that they do; I just have to make the accusation and it is up to them to disprove it.”
Based on that logic, a person could make any outrageous claim they wanted and the injured party would be responsible for clearing their reputation. One would think that a normal, decent person would present some proof before making a malicious statement, but some have so little respect for the truth that they will say anything to inflict pain or discredit on another party.
Axelrod has firsthand knowledge of how an influx of foreign money can taint and influence elections. He has selective amnesia regarding the millions of dollars foreign contributors funneled into President Obama’s campaign. For example, the two brothers from Gaza who contributed $32,332.19, and the millions that poured in from countries from every corner of the globe. There were foreign donors with no addresses and names that were gibberish or fictitious. Faced with the prospect of massive investigations, board of elections members decided simply to ignore President Obama’s irregularities, and focus on John McCain’s bookkeeping error of $50,000, which turned out to be legal.
President Obama isn’t the only Democrat to accept foreign money to influence polices in Washington. The government of Bermuda met with key members of the U.S. Congress, including Charles Rangel and G.K. Butterfield, seeking their support for fiscal assistance that would assure Bermuda’s long-range future. Bermudan Premier Brown returned home and bragged about his influence with the U.S. Congress.
Rep. Butterfield co-sponsored a bill that would give Bermudian homeowners and businesses susceptible to hurricanes and floods tax credits and financial assistance. An amendment to the American Recovery and Reinvestment Act (stimulus) would set aside part of the $787 billion for hazard mitigation. Butterfield received a donation for his services. He also received donations from British Petroleum (BP), which is a foreign corporation.
Yes, foreign money does influence policies and elections, but the accusing finger should be pointed in the right direction regardless of party affiliation.
Marvin Sparks is a Snow Hill resident who has worked for the airline industry for more than 45 years and is currently a student at Lenoir Community College. You can reach him at ssparks747@aol.com. The opinions of the guest columnist are not necessarily those of The Free Press.
The Free Press guest columnist feature appears every Wednesday in this space. Would you like to be considered as a guest columnist? Contact Managing Editor Bryan Hanks at (252) 559-1074 or at bhanks@freedomenc.com.
Subscribe to:
Posts (Atom)
