Dems are busy trying to prove President Donald Trump is violating the Constitution’s emoluments clause and is profiting from the presidency, which could then lead to impeachment:
The Justice Department moved to challenge a federal district judge’s ruling that allowed congressional Democrats to proceed with a lawsuit claiming that President Trump had violated the Constitution by profiting from his businesses while in office https://t.co/LKTB3cCzTN
— The New York Times (@nytimes) May 15, 2019
And that dream is taking a hit after two new articles, one from Bloomberg and the other in the Washington Post, say that the presidency is costing Trump a ton of money.
First up, here’s Bloomberg on how apartments in Trump Tower are selling at a loss and more importantly to the Trump Organization’s finances, retail space in lobby remains vacant:
“past 2 years have been brutal. Most Trump Tower condo sales led to a loss, several more than 20%. Across Manhattan, just 0.23% of homes sold at a loss.
Tower’s occupancy rate has plunged over last seven years to 83% from 99% – a vacancy rate twice Manhattan’s average” https://t.co/7Vj4pBbhZ2
— John Harwood (@JohnJHarwood) May 14, 2019
“No one wants in that building,” Bloomberg reports:
Trump Tower is now one of New York City's least-desirable luxury buildings. "No one wants in that building," says one former apartment owner.
Read more on @business: https://t.co/lh8HKhYmHd pic.twitter.com/86pPKWMKzS
— TicToc by Bloomberg (@tictoc) May 15, 2019
And the Washington Post added this morning that the president’s resort in Doral, FL is hurting:
NEW: Trump’s prized Doral resort is in steep decline, according to company financial documents, showing his business problems are mounting, via @Fahrenthold and @OConnellPostBiz https://t.co/oyYMmMBEtY
— Amy Gardner (@AmyEGardner) May 15, 2019
According to the Post’s article, the resort is asking for a tax break because of the decline in Trump’s brand:
A rep for Trump Org blamed Doral’s decline on @realDonaldTrump’s brand.
Then asked the county for a tax break, b/c brand was hurting revenue https://t.co/T1XPAvY4vz— David Fahrenthold (@Fahrenthold) May 15, 2019
In other words, Trump is giving up money to be president, which we can expect to hear more of once the 2020 campaign gets in full swing:
President Trump sacrificed his brand when he entered the political arena, knowing he would be subject to nonstop smears and attacks. https://t.co/cNM8YiPAfj
— Phil Kerpen (@kerpen) May 15, 2019
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