When plunder becomes a way of life for a group of men in a society, over the course of time they create for themselves a legal system that authorizes it and a moral code that glorifies it.
– Frédéric Bastiat
I’ve written about the EB-5 visa program previously, something I consider a total racket that allows wealthy foreigners to buy their way into U.S. residency while funding real estate catering to, you guessed it, wealthy Americans. It’s more or less a system by which really rich people abuse a government program simply to help out other really rich people. What a country.
This wasn’t always the case. In fact the EB-5 visa program was originally meant to connect wealthy foreigns with projects to help the less fortunate here at home. Naturally, the entire thing has been completely corrupted.
As I noted in the 2015 post, More American Cronyism – U.S. Government Selling Visas to Fund Luxury Apartment…