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That's actually a brilliant way to handle immigration.

Compute how many slots are available, based on national concerns (mostly, how many people can you easily integrate and naturalize per year). Then, auction off the slots to the highest bidder, and have a short-track naturalization process for the winners.

When you auction off the available slots you can be reasonably sure that the auction will benefit the winners (if self-sponsored) or the sponsors (if this is an H1B-style visa). But it may not be in the best interest of the nation as a whole. I note that most every other high-immigration country (Australia, New Zealand, Canada, Britain) has a point system.

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