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Eventually, he became a passive owner.
But he is not an entirely passive owner.
I use the term passive owner to describe owners who have removed themselves from the day-to-day operation.
I've seen too many businesses where the owner tries to become a passive owner but struggles with how to stay current with what's going on.
If so, then Comcast's behaviour would have violated the conditions of its purchase of NBC Universal in which it promised to remain a passive owner so as to avoid stifling a smaller firm that might otherwise grow into a competitor.
If instead you're considered a "passive" owner — determined by, for example, how many hours you log working for it — then you inexplicably qualify for the special pass-through rate on 100percentt of your earnings.
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While not active in the traditional sense, passive investors are not passive owners.
CEOs are responsible for managing the firm on behalf of shareholders, who are generally passive owners of stock in the firm.
The big cut in corporate tax rates and the corporate repatriation holiday also disproportionately benefit passive owners of capital rather than workers.
A stockmarket recovery would reduce those figures, but it would take many years of high share returns to wipe out the deficits.That pressure may produce some change, inducing more institutions to be active rather than passive owners.
The bill would cap pass-through taxes for "passive" owners such as Trump, who don't actively work for the company, at 25percentt — a 15 percentage point savings virtually overnight.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com