187 Inside President Trumps Business, Taxes & More w/ Author of Whitehouse Inc. Dan Alexander (Part 2)

Automatic TRANSCRIPT

So Dan you really think that if the president of the United States had divested one hundred percent of all the assets that you've been talking about done this thing that the bushes did and the OBAMAS did and so forth from a business point of view, he'd actually be a really good place. There's no question I mean it's it's it's a massive So, if you take the size of his fortune. At the start of the presidency. And you divest at, let's say I ran the numbers saying there's some debate about. This capital gains tax thing that's true for everyone except for the president because they are dependent, they have to comply with the conflicts of interest you. For the president there's some question of whether he gets that benefit of most ethics people think that if he just went to Congress and said, Hey, you know I wanna fall the you know the spirit of this can you give me this break to that? That would have been better from an ethics standpoint in the Congress for Sherwood done particularly if it were controlled by Republicans, as it was at the time but okay, let's let's say that that that didn't happen. Let's say that he had to pay. Full capital gains tax, not the and not just gains on like minor gains gains on the entire fortune. Both at the federal and at the New York state level which are large Agai and you take his entire fortune at the start of the presidency you pay full capital gains tax on everything, and then you take the proceeds of that what's left in you invest at NASA and p five hundred. Okay and you compare that to how his fortune has performed with all of the damage, the tap into the brand and all that sort of stuff. And you put those two things online grass over time. Now it changes all the time because the market is perform differently trump's assets of performing differently and all that last time that I calculated this, which was about a month ago. Trump had he done what all the ethics people suggested at the start gotten rid of all this stuff. He would be eight, hundred, million dollars richer today. And he wouldn't have any of the conflicts. Written a book we wouldn't talking about this. And he would have paid a shit ton and tax. In taxes and he would have been eight hundred million dollars richer talk about how you know this is such a sacrifice that I made and I gave all this money the US Treasury and he would have been way Richard Today. So the decision the initial decision hang on his business. You. Know I think we sort of new start that this was kind of. A questionable political move out the first politics is might not be the best thing you know he's going to have a lot of headaches. Now there's GonNa be a lot of ethics issues all that, but we didn't know from a business perspective whether this is going to be a good move or a bad. Will the results are in? This was a bad move from a political. Perspective and it was a bad move through and business perspective. You wouldn't even richer and cleaner if he just got out of. Wow what a stunning. It's almost shakespearian to hear. You say this I I didn't realize this. Yeah, and it's again. It's not you know. It's just numbers. You know it's not there's no there's no debate about it. It's just a math equation. You run the numbers on what the appreciation of it would be and you know it'd be way way richer well, and his his life would be easier. You write the trump organization is one of the most unusual businesses in. America. And Bhai unusual in for at least part of what you mean is complicated. It's complicated. It's Harry. You know I mean there's there's a lot it has You know most most businesses are either real estate business or there are golf club business or their hotel business. Or. They're rich Guy Hoon's like some mansions. Trump's got all that stuff and they don't really interplay with each other. He's got commercial buildings to. Sin a cohesive. You know you look for like a publicly traded comparable to the trump organization. Good luck I mean what company? Has You know collection of office buildings, a collection of real estate assets. You know a mansion in Saint Martin Penthouse in in New York City. You know it's this is a very, very strange. So it's it's really the Strategy Shit I like Oh for sure this is as somebody with adhd. I can understand is one day we're doing golf courses the next day we're doing condos next day we're doing TV shows it's kind of interesting for adhd I don't know whether he has adhd or not as somebody who has been diagnosed with four or five different. They call us and they call them learning differences now I buy them all together. Dan and call it dysfunction. But anyways. I understand the desire to do this wife is always trying to stop me from doing you. Know for sure. I mean, in that same, you know trump trump tower office meeting whereas air you know as asking him. So what's the strategy of the trump organization? You know who's really interesting moment who's right after you know trump becomes president I think they're in one of the most interesting business strategy moments in business history. Nobody'd ever done anything like this. He's got a multibillion dollar business. He's an heir to the fortune his dad's in the White House. He you know has this murky relationship with his father were apparently he's in control and say, all right man like. This stuff is now under your purview what's the plan? You know what? What's what's your strategy and just put a fine point on it Dan at that point if you're eric. Trump. There is literally not a single person in the united. States and maybe on planet earth that you can't get in to see or talk to Oh, for sure you anyone anyone and so you know I say for what's the strategy you know this is like a really exciting business

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