Tuesday, November 01, 2016

The way he made his billions matters.

October 31, 2016
By David Barstow, Mike McIntrire, Patricia Cohen and Russ Buettner

Donald J. Trump proudly (click here) acknowledges he did not pay a dime in federal income taxes for years on end. He insists he merely exploited tax loopholes legally available to any billionaire — loopholes he says Hillary Clinton failed to close during her years in the United States Senate. “Why didn’t she ever try to change those laws so I couldn’t use them?” Mr. Trump asked during a campaign rally last month.

Legislatures, regardless whether it is Hillary Clinton or Harry Reid, don't have the slick billionaire in mind when they are looking for a fair minded IRS. This is ridiculous. His behavior is near criminal and of course everyone in the federal legislature knows about every bit of criminal like activity that occurs.

Donald Trump makes ridiculous statements. Legislators are suppose to hold hearings when there is something wrong within the IRS. The hearings held since the Republican majority of 2010 hardly pursued criminal like behavior. They were far more interested in playing politics with the taxpayer's monies than anything recognizable as progress through a better tax system.

But newly obtained documents show that in the early 1990s, as he scrambled to stave off financial ruin, Mr. Trump avoided reporting hundreds of millions of dollars in taxable income by using a tax avoidance maneuver so legally dubious his own lawyers advised him that the Internal Revenue Service would most likely declare it improper if he were audited.

Thanks to this one maneuver, which was later outlawed by Congress, Mr. Trump potentially escaped paying tens of millions of dollars in federal personal income taxes. It is impossible to know for sure because Mr. Trump has declined to release his tax returns, or even a summary of his returns, breaking a practice followed by every Republican and Democratic presidential candidate for more than four decades....

Donald Trump is SLICK. Understand that? He runs up incredible debt with a bank so the bank has to pander to him to receive their monies back. He found that a very interesting method to maintain some degree of wealth in his life.

That matters.

Being a slick billionaire is hardly a man of integrity. He also treated his companies as if they owned him more than the income he received, the beauty queen contests were playgrounds for his voyeurism.

There isn't anything moral about him in any of his activities. His enterprises were designed to fail in bankruptcy so he had a better cash flow. He exploited businesses that contracted with him. It is amazing any contractor will actually sign a contract with him. 

All to often the wealthy persons lining the halls of the Democratic Party are complained about. I think I get it now. If a person comes by their wealth honestly and within moral standards, they aren't members of the "Clubs of the Corrupt and Corruptible."

Donald Trump's wealth came to him through corruption and exploitation. If he didn't carry out immoral standards, he'd be a pauper.