Closing Thought–01Nov19

Can a president while in office make $500 million off a business deal?

I ask because of a story that I found while surfing them web…..the Trump Hotel in DC may hit the market soon…..

President Trump’s real estate company might unload a palatial hotel over complaints that government-ethics laws are being cast aside, the Wall Street Journal reports. The Trump Organization has hired a real estate firm to let go of the Trump International Hotel in Washington, DC, where Trump and other White House officials often dine and visit. Asking price: over $500 million, or $2 million per room, for leasing rights that extend nearly 100 years. This as Democrats, watchdog groups, and the inspector general of the General Services Administration—a federal agency that leases the hotel—raise red flags about the president possibly receiving “emoluments,” or things of value beyond his government paycheck.

Meanwhile, a federal appeals court said last month that plaintiffs (like competitors of Trump’s restaurants and hotels) can make legal claims against his businesses, per USA Today. And House committees led by Democrats are looking into possible emoluments problems involving Trump. “I’m skeptical that this latest development isn’t an attempt to make a massive profit that directly benefits the Trump family, so I will be following this marketing attempt closely,” says Rep. Peter DeFazio, D-Oregon. Eric Trump doesn’t deny it’s an issue: “People are objecting to us making so much money on the hotel, and therefore we may be willing to sell,” he says. Profits at the hotel increased by roughly $400,000 to $40.8 million in 2018.

I think that he should not be able to until after all evidence is presented……

Trump is NO longer a proud New Yorker….he now resides in Florida…….

President Trump is now officially a Florida man. According to documents seen by the New York Times, the president—who was born in Queens and has described himself as a lifelong New York City resident—changed his “primary residence” from Manhattan to Palm Beach, Florida, around a month ago. After the Times reported the change, Trump confirmed that he will be making Palm Beach, where he owns the Mar-a-Lago resort, his “Permanent Residence” after leaving the White House. He tweeted that while New York and its people will always have a special place in his heart, “unfortunately, despite the fact that I pay millions of dollars in city, state and local taxes each year, I have been treated very badly by the political leaders of both the city and state.”

“I hated having to make this decision but in the end it will be best for all concerned,” Trump added. Melania Trump filed the same “declaration of domicile” in Palm Beach County. NBC reports that the president has spent 99 days at Mar-a-Lago since becoming president—around 10% of his time in office—but only 20 at Trump Tower in Manhattan. Sources tell the Times the move is largely for tax reasons: Trump isn’t happy about Manhattan DA Cyrus Vance pursuing his tax returns, and Florida has no state income tax or inheritance tax.

Thoughts?

I Read, I Wrote, You Know

“Lego Ergo Scribo”

6 thoughts on “Closing Thought–01Nov19

  1. There is nothing in the constitution that says a person has to sell all his assets before becoming president, tun jus business as Washington did when he was president , continue to own his business as Carter did, or sell off any of his assets during his tenure in office.

    There is no oath of poverty on becoming president.

    1. You are right and most president to avoid any conflict put their holdings in a “blind trust”….but not this one he wants his position to be profitable while in office. chuq

  2. No Tax in Florida sounds like a solid reason to move there.
    But how much can any one person spend in a lifetime?
    They can never have enough, it seems
    Best wishes, Pete.

    1. Trump never has enough but more than that he must have his name in lights…..the ego rush is what he lives for…..his idiots sons and daughter not so much…….BTW if Trump has an IQ of 150 then mine is 200+ LOL chuq

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