By, Jason Taylor
Donald Trump is a deadbeat. He drives on roads paid for by teachers and mocks an army paid for by secretaries. He’s a freeloader complaining about his free meal, pure and simple. I don’t have trouble with the notion that someone who has a valid write-off should take it What I do have trouble with is Giuliani saying “the man’s a genius” for losing almost $1 billion in a single year. Seriously? Where I come from, savvy business people make profits, not losses.
For all the folks defending Trump on the basis that all of this is legal, or the problem lies with the tax code, please explain why he won’t release his tax returns. Hint: it’s not because he’s “smart”. We may not find out by election day, but it’s eventually going to become clear that Donald is just as clueless in finance as he is foreign policy.
At the very least Trump’s response to this should be along the lines of: “I want to thank the US Government and, especially, the American people. If not for them?—?for the laws and tax regulations they passed and allowed to be passed?—?I would have been out of business before I really even started and would likely be selling condos in Sarasota, instead of running for President. The truth is, I am a really bad businessman and I needed not only bankruptcy but also twenty years of write-offs to do anything that remotely resembled a successful career…and even then, today, I still feel the need to exaggerate and embellish my wealth and my success and to belittle others so that I might suppress the nightmare of being a fraud in a $3000 suit.”
Does anyone really believe that because he was “smart” enough to exploit the tax code that he will change it so that people like him will have to pay their fair share, if he’s elected? If Trump is such a HUUUUGE business success, how can it be that he loses so much money? If the tax loss balances income, his income is $50 million per year. Not bad, but given the $100 million he got from his father, not extraordinary. I cannot understand how he can claim to be the savior of the US economy from his business career and from his contradictory statements about lowering the national debt, his rapture about the 2008 housing meltdown and his US income tax plan.
I suspect Donald Trump surreptitiously authorized the release this portion of his tax report himself, believing that he might capture a bit of sympathy by making it look like he was hacked. He also likely thinks that if it comes out in dribbles, the impacts will diminish by the time the next bit of information is released. But like the slow release of air from a pinprick in a balloon, the final result is always that the empty balloon lands back on the dirty ground, permanently damaged and devoid of all value.
All Americans try and reduce their tax liability, that’s not the issue. It’s that tax laws allow certain group’s of citizens the ability to pay zero taxes. This isn’t done in a vacuum though, the country still has to run which means the rest of us, those that have much smaller incomes end up picking up the tab for those at the top. Is that smart tax filing, yes. Is it patriotic, morally correct or fair? No. The thing is, the people voting for Trump don’t care that he hasn’t paid any taxes. They will likely hold him up as a hero for it. The patriotic hypocrisy and cognitive dissonance is ironclad throughout the entire camp of Trump supporters.
I would love to see the media confront all those Members of Congress who voted for all those tax subsidies and ask them to explain to their constituents why they hand out tax breaks to real estate developers like they’re candy. Their lobbyists will, of course, insult our intelligence with claims that the sky will fall without all those tax subsidies. The American taxpayer knows better, but we do not receive the campaign contributions that miraculously allow Members to understand that all those tax subsidies are necessary to the very survival of our Republic.
I find Trump’s knee-jerk excuse for taking full advantage of these arcane tax rules as a benefit to voters to be staggeringly disingenuous. “Because only I know all these ins and outs of the tax code, only I can fix it” declares Trump.
But why would he have any incentive to do so? This man only does things that enrich himself and his kids. The “Trump Corporation” of Donald, whatever woman he’s currently married to, Don Jr., Eric, Ivanka, Tiffany, and Barron. The very same children who will “run” the business while their dad is president, so he won’t be tempted to promote laws that benefit rich real estate moguls like him.
If you believe that, I have a bridge to sell you….providing there’s one still standing after a President Trump fails to cough up budget money for infrastructure. A dishonorable man who cheated his investors, his creditors, his employees, his sub-contractors, his country. Now he wants to be president.
This a man who would make America great again, and yet his entire career has been marred by epic failure, deceit, and unrivaled scumbaggery. What a farce.