USviewer: Everyone knows that selling illiquid assets such as brands and real estate in a hurry requires accepting huge losses.
After electing the first African-American president eight years ago, Americans made history once again by choosing a truly international businessman. A future global businessman might be discouraged from seeking the presidency if we force huge losses on the Trump family via divestiture.
Ethics requirements could be met by temporarily nationalizing Trump Inc. only for four or eight years, without a formal deed of sale.
Since Donald Trump has supposedly been audited every year, an audited estimate of the pre-tax income and the rate of growth in that income over the past four or eight years is available to the Internal Revenue Service. All of the Trump companies’ business secrets would remain private.
Instead of huge losses from divestiture of assets at fire-sale prices, Trump family would be better off accepting, in the spirit of public service, an income cap over the next four or eight years, based on the past income level and growth rate.
It is only fair to let the Trumps earn at their own historical level with a downside protection. The Foreign Gifts and Decorations Act of 1966 states that high-value “gifts” belong to the U.S. Treasury. Thus, a legal framework to cap Trump Inc. earnings already exists.
Suppose a foreign country pays to rent a room for a representative in a Trump hotel or buy a Trump-branded item. It is easy to allege that payments were intended to curry favor with President-elect Trump. But if the businesses were U.S. government property, all conflicts of interest allegations would be invalid.
Temporary nationalization of earnings above the Trump family cap would be efficient, simple and clean.