Another Reason Why EB-5 Is Not Unfair

In a recent post we took note of the fact that, “Like school children on a playground, the opponents of the EB-5 investment visa program keep finding ways to say, “That’s not fair!”

 

In the article we specifically addressed objections to the location of Targeted Employment Areas (TEA). We also alluded to the criticism that EB-5 favors high net worth individuals. To that issue we reply, “Of course it does!” But we also add that, given the explicit job creation and economic developmental purposes of the program, it is not, therefore, unfair.

When the U.S. has cities like Pontiac, Michigan; East St. Louis, Illinois; Yuma, Arizona; and Detroit, Michigan with double digit unemployment rate, the EB-5 program has the potential to help those cities thrive once again. Add to those, cities like Brawley and Calexico, California where more than 25% of the residents can’t find work, using EB-5 investments addresses on a humanitarian need.

Conversely, EB-5 often addresses humanitarian needs on behalf of foreign investors.

Although the U.S. Declaration of Independence declares that all men are created equal, many Americans have bought into the misleading socialist agenda that all men should BE equal. Those who espouse that view, perceive being wealthy as distasteful, especially when others have attained it and they haven’t.

Finally, many Americans fail to realize that wealth in some countries does not necessarily mean having a healthy environment. Being wealthy in Beijing, for instance, still exposes citizens “to pollution that far exceeds levels deemed safe by the U.S. Environmental Protection Agency.” In fact, “The air in Beijing is so polluted that breathing it does as much damage to the lungs as smoking 40 cigarettes a day.” Helping anyone escape those conditions using EB-5 is most certainly humanitarian.

Do you agree or disagree? Participate in the conversation on LinkedIn.

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