The people who go around screaming that President Trump is making money during his presidency needs to go back to economic class. It is either intentional misinformation or blazing ignorance about the nature of business. Whatever you want to call it, that notion is flat out false. But, why do I have a feeling the people musing about this out loud know better? I don’t support the president for reelection, but I can’t abandon observable reality.
Today at his G-7 (Soon to be G-8) President Trump was asked about him making money on his hotels and in particular his one in Doral, Florida. He explained to the press that this section was the best for many reasons. Me, being completely disconnected from Trump Derangement Syndrome, the reasons he put forth are hard to argue with. But the question itself leaves an insinuation that Trump is profiting from being president.
Now this shade being thrown towards Trump is just that, shade being thrown at the president. The problem with this narrative is that it abandons simple axioms of economics 101. The president’s hotels across the world occupancy are down as much as 60% in some cases. Well, if your own hotels and your occupancy go down, you lose money. Seems pretty simple, but some Trump haters try to make a case that in this scenario, somehow Trump is making money. The whole idea is asinine.
The president said that one day he will detail the fact of how he lost anywhere from three to five billion dollars being president. We know his daughter had to close down her business over her father’s presidency. To claim that anyone in Trump’s family is profiting is flat out a lie. The people making this claim have to know the Trumps are losing money. Yet, somehow they go around all day claiming this spurious nonsense. You do not have to own a hotel to know any of this. It was taught in economics class in high school.