The Bottom Line on Drumpf's Taxes

[BlueWavePsych]

The Bottom Line on Trump’s Taxes

What happens if collectors come knocking at the White House door?

S3: Yes. Well, there’s a couple of things that I think that are important to keep in mind. One is that the Trump family business was built with the support of U.S. taxpayers. There would not be a Fred Trump. There would not be a Donald Trump or an Ivanka Trump or Don Jr. or an Eric or any of that. Had not Fred Trump been able to turn to the U.S. government around the time of World War Two and after to get federally backed loans to build basically moderate income housing in the outer boroughs of New York and Brooklyn and Queens?

S3: The Times did write. You know, one of the things is that Fred Trump was called before the Senate Banking Committee to testify on an investigation they were doing into federally backed loans, because one of the things that the became clear was that it wasn’t like anybody could go to the the federal housing agency, the FHA, and say, give me a loan. They were controlled by political figures in each area. And Fred Trump really curried favor with the New York administrator and got a disproportionate amount of loans for being a single developer in New York. And so it was the taxpayers that built up the Trump empire.

S3: Right. Well, I think it’s a really, really interesting thing because his whole business model has been building his brand and building faith in his brand and thereby getting money from partners and lenders and licensors and customers and students at Trump University and getting money from these people and then losing money. And when it comes time to paying people back, they get pennies on the dollar. I mean, it sounds like a Ponzi scheme. Yeah, I don’t know what you would legally call it because it is in a class by itself. But this brings us to sort of another thing that I think people are not paying. When I say people are not paying attention, it’s a sweeping statement. But another thing that I hope that comes out of the story and that people think more about is who are the victims? Who loses out when Trump doesn’t pay taxes? I mean, The New York Times did point out that taxpayer, these taxpayer losses are non-negotiable and they could go to pay for a lot of things that Donald Trump is not paying for. But when you look at the sort of overall business model that emerges from his tax returns, which is that he had money and now he has less money and he keeps pouring it into these money, losing businesses, then at every step of the way, making somebody else hold the bag. So obviously, in this case, it’s the taxpayer that over the course of his business, it has been bankers like maybe your heart doesn’t bleed for bankers, customers, people who bought his condos. OK, maybe you feel like those are rich people anyway and they made a deal and OK, so what if they lost out when they bought a condo? And you go all the way down to something that was talked about in the New York Times story and his licensing deals, where there’s a company called ACM that made video phones and they have been accused of being a kind of multilevel marketing scheme. And there’s a case that’s going on right now in federal court where the people who were bought in to this scheme, one of whom is homeless, one of whom is a home health aide, I think someone on welfare, not a lot of people means and they said we bought into this scheme because Donald Trump endorsed it and we learned that he made eight to nine million dollars from ACORN, from the Trump tax returns, according to The New York Times. So he is making a lot of money and people who really don’t have money are losing money. And I think what we I would like to see more discussion of is this who are the victims when Donald Trump doesn’t pay?

https://slate.com/podcasts/what-next/2020/09/20-years-trump-tax-returns-election-2020

[asiliveandbreathe]

1. Thanks for this article BlueWavePsych - I do hope during this week inbetween

so-called debates, the media, and journos keep on the TAX story..

Those of us who endured the babbling idiot last night already know who made the best impression - BIDEN - so they need to move on this TAX NOT paid issue...pump it up!!!

[BlueWavePsych]

3. Right now all attention is on Drumpf's sh1tshow.

As more painstaking forensic analysis of Drumpf's taxes are done, tax fraud will become more self-evident.
Meanwhile, GOTV!

[stillcool]

2. She wrote one of the best books..

I've read about Trump inc. Lots of connections, background, things of which I had no idea. Very readable. I almost want to read it again.

American Oligarchs: the Kushners, the Trumps and the Marriage of Money and Power.
by Andrea Bernstein