Politics

Is Trump Ignorant about Civil Asset Forfeitures?

Anyone who is unaware of civil asset forfeiture laws that let the U.S. government seize your savings, investments and other possessions without any proof it was obtained illegally is not alone.

The following link goes to an article that provides information about a Feb. 9 conversation President Donald Trump had about asset forfeiture, and it shows even the leader of the United States seems ignorant of a law that can require far more people than drug dealers to forfeit their cash, investments, precious metals and other assets. Click here if you want to read that article; I provide my summary and opinion below.

I was amazed when President Donald Trump met with county sheriffs from around the country on Feb. 9 and spoke as if he was unknowledgeable about the travesty known as civil asset forfeitures.

For years now, police departments have seized and kept property that is suspected of involvement in criminal activity. Under these civil forfeiture policies, property owners need not be found guilty of a crime — or even charged — to permanently lose their cash, car, home, or other property. According to a new report published by the Institute for Justice, “Policing for Profit: The Abuse of Civil Asset Forfeiture,” most state laws are written in such a way as to encourage police agencies to pursue profit instead of seeking the neutral administration of justice. The report grades each state and the federal government on its forfeiture laws and other measures of abuse. The results are appalling: Six states earned an F and 29 states and the federal government received a grade of D.

President Trump was told by one sheriff that civil asset forfeitures only involve drug dealers. That claim is nonsense. Many people have lost thousands of dollars who were students, business people and others totally unrelated to drug dealing.

I hope President Trump will get a more objective review of the unconstitutional crime known as civil asset forfeiture. The end of government abuse of its powers should be included among the president’s objectives if he truly wants to do what he promised during his political campaign to “make America great.”

Mark Skousen

Mark Skousen, Ph. D., is a professional economist, investment expert, university professor, and author of more than 25 books. He earned his Ph. D. in monetary economics at George Washington University in 1977. He has taught economics and finance at Columbia Business School, Columbia University, Grantham University, Barnard College, Mercy College, Rollins College, and is a Presidential Fellow at Chapman University. He also has been a consultant to IBM, Hutchinson Technology, and other Fortune 500 companies. Since 1980, Skousen has been editor in chief of Forecasts & Strategies, a popular award-winning investment newsletter. He also is editor of four trading services, Skousen TNT Trader, Skousen Five Star Trader, Skousen Home Run Trader, and Skousen Fast Money Alert. He is a former analyst for the Central Intelligence Agency, a columnist to Forbes magazine (1997-2001), and past president of the Foundation for Economic Education (FEE) in New York. He has written articles for The Wall Street Journal, Liberty, Reason, Human Events, the Daily Caller, Christian Science Monitor, and The Journal of Economic Perspectives. He has appeared on ABC News, CNBC Power Lunch, CNN, Fox News, and C-SPAN Book TV. In 2008-09, he was a regular contributor to Larry Kudlow & Co. on CNBC. His economic bestsellers include “Economics on Trial” (Irwin, 1991), “Puzzles and Paradoxes on Economics” (Edward Elgar, 1997), “The Making of Modern Economics” (M. E. Sharpe, 2001, 2009), “The Big Three in Economics” (M. E. Sharpe, 2007), “EconoPower” (Wiley, 2008), and “Economic Logic” (2000, 2010). In 2009, “The Making of Modern Economics” won the Choice Book Award for Outstanding Academic Title. His financial bestsellers include “The Complete Guide to Financial Privacy” (Simon & Schuster, 1983), “High Finance on a Low Budget” (Bantam, 1981), co-authored with his wife Jo Ann, “Scrooge Investing” (Little Brown, 1995; McGraw Hill, 1999), and “Investing in One Lesson” (Regnery, 2007). In honor of his work in economics, finance, and management, Grantham University renamed its business school “The Mark Skousen School of Business.” Dr. Skousen has lived in eight nations, and has traveled and lectured throughout the United States and 70 countries. He grew up in Portland, Ore. He and his wife, Jo Ann, and five children have lived in Washington, D.C.; Nassau, the Bahamas; London, England; Orlando, Fla.; and New York. For more information about Mark’s services, go to http://www.markskousen.com/