“Donald Trump took an oath to serve the American people. Instead, he has focused on using the presidency to enrich himself… President Trump has never been a man to ask what he can do for his country. In his second term, as in his first, he is instead testing the limits of what his country can do for him.”—New York Times Editorial Board
In his State of the Union address, President Trump declared that America is entering a “Golden Age.” Golden for whom?
For a president who lives lavishly in a taxpayer-funded mansion, jets around to weekend golf getaways at taxpayer expense, and dismisses concerns about “affordability” as fake news, life might indeed be gilded.
For the rest of the country, it is fool’s gold.
Nearly six-in-ten Americans say the country is worse off now than it was a year ago. Groceries cost more. Utilities cost more. Housing costs more.
For millions of families, this is not a golden age.
It is a painful lesson in imperial economics: the billionaire class lives large while “we the people” are told to live small.
Trump is not working to make America great again. He is working to expand his wealth, protect his investments, and rule in gilded comfort at taxpayer expense.
As a candidate, Trump promised to “drain the swamp.”
Instead, the swamp has been privatized.
When it comes to the true state of our nation, Americans would do well to examine not just what the Trump administration has accomplished—or failed to accomplish—but who has profited.
The highest public office in the land has become a personal revenue stream for Donald Trump & Co.—a vehicle for private enrichment that monetizes access, influence and public assets while the public pays the tab.
To monetize the presidency is to treat public power as property—something to be leased, leveraged and exploited for private gain.
This is how you bilk a nation.
The man who once lent his name to the ghostwritten The Art of the Deal is now authoring a far more instructive manual: The Art of the Steal—a step-by-step guide to how to convert a constitutional republic into a personal brand.
Power attracts conmen and swindlers. It always has. But never has the grift been so openly institutionalized.
One year after the Trump administration’s failed DOGE venture—the Elon Musk-led “Department of Government Efficiency” promised to eliminate waste, but the federal government ended up spending significantly more than the meager amount DOGE claimed to save—“we the people” are left to tally the real cost.
While Americans struggle with soaring food prices, rising utility costs, and economic instability, the White House has perfected one area of growth: personal enrichment and private accumulation.
According to the New York Times Editorial Board, “Trump has used the office of the presidency to make at least $1.4 billion. We know this number to be an underestimate because some of his profits remain hidden from public view. And they continue to grow.”
This is not savvy business. This is graft.
“Throughout the nation’s history, presidents of both parties have taken care to avoid even the appearance of profiting from public service. This president gleefully squeezes American corporations, flaunts gifts from foreign governments and celebrates the rapid growth of his own fortune,” concludes the New York Times. “All told, Mr. Trump has profited from his return to the presidency by an amount of money equal to 16,822 times the median U.S. household income.”
Just consider the entries in this administration’s ledger.
Personal indulgence and vanity projects:
$400 million and counting for a White House ballroom underwritten by corporate giants whose regulatory futures sit squarely in presidential hands.
$70 million for a luxury jet with a private bedroom so DHS secretary Kristi Noem can fly around in comfort with her rumored partner.
$28 million for an Amazon documentary on Melania Trump.
Tens of millions for Trump’s weekend golf trips to Mar-a-Lago, including what he charges the American taxpayer for the Secret Service to be housed at the resort.
Policy decisions that generate revenue or leverage:
Billions in stealth taxes disguised as “emergency” tariff revenues paid for by the American people. According to NPR, the federal government is now collecting roughly $30 billion per month in tariff revenue—far more than it collected from import taxes before Trump returned to office—largely paid for by American consumers. So when Trump tries to sell Americans on the idea that tariffs could eventually replace income taxes—a clear bid to overturn the Supreme Court’s ruling against his tariff policy—don’t believe it. That’s just another money grab.
A $10 billion taxpayer buy-in to a privatized Board of Peace created and controlled by Trump in perpetuity with no real oversight or accountability.
$230 million in damages Trump claims he is owed over investigations into his own past misconduct.
Another $10 billion in damages which Trump claims he is owed after an IRS contractor was convicted of leaking his tax information.
Millions in trademark rights and licensing fees tied to Trump’s name on public infrastructure. As trademark attorney Josh Gerben notes, “The move raises unusual questions about the intersection of public infrastructure and private brand ownership. While presidents and public officials have had landmarks named in their honor, a sitting president’s private company has never in the history of the United States sought trademark rights in advance of such naming.”
At least $23 million from licensing Trump’s name overseas since his re-election.
$4 billion flowing into Trump family coffers in the first year of his second term, including $867 million through cryptocurrency ventures.
Public money redirected toward private allies and enforcement expansion:
$128 million for an ICE warehouse purchased three years earlier for $29 million—a $100 million markup benefiting a Russian-backed company.
$15 million earmarked to feed starving children internationally, which was instead impounded for OMB director Russell Vought’s security detail.
$51 billion in taxes not paid by Amazon, Alphabet, Meta, and Tesla in 2025 after receiving a 4.9% tax rate.
A $10 billion government contract between the Army and Palantir, founded by Trump supporter Peter Thiel.
Foreign entanglements and gifts:
A $400 million luxury plane from the Qatari government, which will be retrofitted at taxpayer expense for Trump’s official use as Air Force One and which he plans to take with him when he leaves office.
Hundreds of millions more from foreign government-linked investors gaining access through the purchase of the Trump family’s cryptocurrency ventures.
These are not isolated expenditures. They reveal a pattern.
They speak to the blueprint Trump has used to monetize his stint in the White House.
The Founders anticipated precisely this danger: a president tempted to convert public trust into private profit. The Constitution’s Foreign and Domestic Emoluments Clauses were intended to prevent a president from profiting from office.
The Framers were explicit about this. The Foreign Emoluments Clauses bar any federal officeholder from accepting any present, Emolument, Office, or Title from a foreign state without congressional consent.
An emolument is not merely a bribe. It is any profit, gain, or advantage derived from office.
The prohibition exists for one reason: to prevent foreign powers from purchasing influence over American decision-making.
With Congress unwilling to enforce the Constitution and the courts slow to intervene, these guardrails have weakened.
“Never in our history had a president come to office presenting the same threat of harming America’s national interest in favor of their personal financial interests,” concluded Citizens for Responsibility and Ethics in Washington. “In spite of Trump’s efforts to avoid transparency, publicly available records reveal a mountain of violations of the Emoluments Clauses during his administration, resulting in a level of corruption that has no analogue in American history.”
By continuing to operate private ventures while in office, including his crypto companies, hosting foreign dignitaries at Trump-branded properties, pursuing crypto enterprises, and reportedly entertaining extravagant gifts from foreign governments, Trump has raised urgent ethical and legal concerns about self-dealing, corruption and backdoor arrangements by which foreign and domestic governments can funnel money into Trump’s personal coffers.
As the Brennan Center concludes, “Not even the most notorious public corruption scandals from American history can match the scale of Trump’s profiteering in terms of total dollar amount.”
It is difficult to determine which is worse: a kleptocracy—government by thieves—or a kakistocracy—government by the worst.
Increasingly, we appear to have both.
And this is where the danger becomes clear.
When a president turns public office into a source of personal revenue, corruption does not stop at enrichment. It spreads.
It spreads into the Justice Department.
It spreads into the courts.
It spreads into law enforcement.
It spreads into the very machinery that is supposed to hold power accountable.
Rather than being restrained by the rule of law, this administration increasingly behaves as though the law exists to serve it.
One system of justice for allies and investors. Another for everyone else.
For instance, President Trump wants his own Justice Department to put American taxpayers on the line to pay him $230 million in damages over FBI investigations into his alleged past misconduct.
When the president seeks to use the Justice Department to pursue his own financial grievances, the line between public duty and private interest disappears.
Journalist David D. Kirkpatrick calculates that Donald Trump and his immediate family have made more than $3.4 billion from his time in the White House, including more than $2.3 billion from various cryptocurrency ventures alone.
In May 2025, Trump was accused of selling access to accumulate personal wealth when he hosted a private event for 220 crypto investors who had bought into his meme coin. News reports estimate that buyers spent about $148 million in total on the coin and associated perks, with some spending $1.8 million to attend.
This is how access to power is sold to the highest bidders.
The average American waits. The wealthy pay.
The emerging revelations from the Epstein files only underscore how deeply the monetization of access has infected the culture of power. For years, wealthy and politically connected figures moved through a shadow network in which proximity to influence appeared to buy protection, silence, or both.
That culture does not disappear when one scandal fades. It seeps into institutions. It normalizes the idea that influence can be purchased and consequences can be avoided.
Measured against this reality, Thomas Jefferson’s warning to bind government down “by the chains of the Constitution” sounds almost quaint.
What good is a Constitution if those sworn to uphold it treat it as optional?
It has become increasingly difficult to pretend that we are still dealing with a functioning republic.
What we have instead is a government that rewards loyalty, punishes dissent, and treats public power as private property.
The American system of government was designed as a constitutional covenant: power delegated, limited, and bound by law.
What we are witnessing is transactional governance: access traded, favors exchanged, loyalty rewarded, and policy negotiated like a business deal.
This pay-to-play culture now permeates the highest levels of power.
The Foreign Gifts and Decoration Act bars the president and federal officials from accepting gifts worth more than $480 from foreign governments (unless they’re accepted on behalf of the United States—meaning they would then belong to the American people—or purchased by the official). Yet congressional investigators have already documented more than a hundred foreign gifts to Trump and his family that went unreported for months in violation of disclosure rules.
The publicly-reported gifts being showered upon President Trump by foreign governments and politically connected foreign corporations include: a gold crown, a Rolex desk clock and a one-kilogram personalized gold bar worth $130,000, and a $400 million luxury Boeing 747.
These are not tokens of diplomacy; they are investments in influence.
As Richard Painter, a former chief White House ethics lawyer for President George W. Bush, explains, “It’s unconstitutional in the United States for the president or anyone else in a position of power to receive anything of value from a foreign government. That is unconstitutional. But if the gift is from a foreign corporation or a private interest, it’s not technically prohibited under the emoluments clause of the Constitution. But it’s still a very, very dangerous precedent to set that foreign interests can give gifts to the president and then get a concession on tariffs or anything else.”
In many cases, these gifts went unreported to the State Department, only coming to light through House investigations and watchdog reports—concealed from the public and from Congress until after the fact.
That secrecy was not accidental. It was strategic.
Federal contracts, regulatory decisions, and diplomatic overtures increasingly appear correlated with the interests of those giving the gifts. A growing number of domestic and foreign business interests appear to be receiving preferential treatment from agencies whose regulatory decisions align suspiciously with Trump’s personal business deals advancing behind the scenes.
This quid pro quo governance—private profit in exchange for public policy—does not resemble republican self-government. It resembles a protection racket, where the powerful exchange favors not for the public good but for personal gain—and access and immunity are available for purchase by those willing to pay.
Unfortunately, the rot doesn’t stop there.
The presidential pardon—meant as a safeguard against injustice—has become a reward system.
During his first term, Trump issued 238 pardons and commutations. A year into his second term, he has issued nearly 2,000 pardons.
Who benefits? Political loyalists. Donors. Operatives. Financial criminals. Those who proved useful.
A congressional report found that Trump’s pardons have allowed convicted fraudsters and white-collar criminals to avoid more than $1.3 billion in restitution and penalties—money owed to victims and taxpayers.
In other words, the pardon power has been used to return stolen wealth to the people who stole it.
This is not mercy. It is a protection racket.
These are not miscarriages of justice being corrected; they are protection payments, signals to future operatives: do what we need you to do, and we will take care of you.
The resemblance to a cartel grows harder to ignore.
The U.S. government is fast becoming a self-serving, money-laundering enterprise masquerading as legitimate authority.
As the Editorial Board of the New York Times concluded:
“[A] government whose leaders worked to enrich themselves might still call itself a republic, and might still go through the motions, but when the aim of government shifts from public good to private gain, its constitution becomes an empty shell. The government is no longer for the people. The demands of avarice gradually corrupt the work of government as officials facilitate the accumulation of personal wealth. Worse, such a government corrupts the people who live under its rule… The United States risks falling into this cynical spiral as Mr. Trump hollows out the institutions of government for personal gain.”
The choice before us is not partisan. It is constitutional.
A republic cannot survive when public office becomes private property.
A Constitution cannot restrain power when those sworn to uphold it treat it as optional.
When loyalty is rewarded, dissent punished, and wealth transferred upward through the machinery of government, we are no longer witnessing politics as usual.
We are witnessing the hollowing out of a constitutional republic.
As I make clear in my book Battlefield America: The War on the American People and in its fictional counterpart The Erik Blair Diaries, this is how republics fall.
Not in a single dramatic collapse, but in the steady conversion of public trust into private gain.
If we allow the presidency to become a profit center, the Constitution becomes window dressing. And “we the people” become subjects.
It is time to reclaim our role as the ultimate check on government power.
It is time to drain the swamp.
Source: https://tinyurl.com/265c2yfs
ABOUT JOHN W. WHITEHEAD
Constitutional attorney and author John W. Whitehead is founder and president of The Rutherford Institute. His most recent books are the best-selling Battlefield America: The War on the American People, the award-winning A Government of Wolves: The Emerging American Police State, and a debut dystopian fiction novel, The Erik Blair Diaries. Whitehead can be contacted at staff@rutherford.org. Nisha Whitehead is the Executive Director of The Rutherford Institute. Information about The Rutherford Institute is available at www.rutherford.org.
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