The Framers could not have been clearer: the president’s claim that something was not a gift, but was earned through his business or other effort still does not allow him to accept it. It would blow a giant loophole in the clause in terms of the Framer’s intent—preventing foreign sovereigns from corrupting American officials—to forbid presents but allow other things of potentially much greater value on the pretext (or actuality) that they were earned. Moreover, the Framers did not limit “emoluments” to cash or any other particular kind of thing of value. (Indeed, the root of emoliri is said to refer to the grinding done by a miller in exchange for a portion of the wheat or other payment.)

Thus, emoluments capture the cash-flows from foreign governments that Trump is seeking for his Washington, D.C., hotel, which has openly solicited business from foreign embassies, and potentially from the government permits and permissions that The New York Times and The Washington Post have noted are now starting to flow to stalled Trump building projects in Argentina and Georgia that suddenly restarted after his election.

As these examples make clear, this clause in the Constitution is hardly an anachronism. We are in danger of having a president who could violate it if he does not disentangle his business operations from foreign governments. The potential violations also include the benefits conferred on Trump in connection with outstanding loans from the Bank of China, which is controlled by the Chinese government, as well as any investment or involvement of sovereign wealth funds in his many projects around the globe, and foreign governments putting up their officials or diplomats at Trump hotels or even those governments buying apartments in his buildings—at times likely vying for the most expensive suites. All of this will become unconstitutional come January 20.