As with anything SEO or Trump related: it Depends.
Bad jokes aside, migrating a site isn’t bad for SEO, IF its done right.
If you’re migrating the site to a new domain but keeping all the pages + urls the same, thats easy. Make a 301 redirect that matches each url with the new one. This usually involves 1 or 2 lines in your htaccess.
If most of your urls are going to be dropped for pages where the content is changed, then you’ll want to redirect the old urls to relevant new URLs. This is a little more complex and time consuming.
If you’re going to kill the old site and 301 all of your old urls to the frontpage of your new site, then expect the rankings to drop on your old site and wait awhile for Google to re-evaluate your new site.
Buying old domains and redirecting them to your new site is an old blackhat technique, so Google can see it as spammy if done wrong or if done too often.
And finally: why the migration? If your old site is working well and doesn’t need changing, then leave it be unless there is a direct measurable financial advantage to doing it
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