Trump and Crony Capitalism?

[Mr Person]

Blue italicized text from article.




The following article discuses financial troubles Trump's casinos ran in NJ (shocking, I know). Specifically, they were nearly thirty million deep in overdue taxes. "The state had doggedly pursued the matter through two of the casinos’ bankruptcy cases and even accused the company led by Mr. Trump of filing false reports with state casino regulators about the amount of taxes it had paid."

But then, a year after Chris Christie took office (and six years of bankruptcy litigation), the state took an abnormally low settlement of five million. The casinos that got this cushy deal, "did far better, for example, than those that benefited from a program Mr. Christie introduced in 2014 under which the state agreed to consider reducing penalties for delinquent taxpayers but only if they caught up on all overdue taxes and interest. Public records do not create a clear picture of how the agreement was reached. A spokeswoman for Mr. Trump said she would be in touch regarding questions sent to her. But she did not reply further or respond to subsequent messages."

http://www.nytimes.com/2016/08/17/us/politics/trump-chris-christie-casinos.html?_r=0

Oh right, and there is also this little nugget: "The Times discovered the agreement during a review of the thousands of documents filed in the bankruptcies of Mr. Trump’s casinos. The taxes went unpaid from 2002 through 2006, during which time Mr. Trump was leading the company as chairman and, until 2005, as its chief executive. He reaped millions of dollars in fees and bonuses from the company, even as it underperformed competitors, lost money every year and saw its stock collapse."




The article also notes things like false reporting by Trump's businesses. For example, the Taj Mahal claimed it paid 2.2 million in alternative minimum taxes when in fact it paid.....

....it paid $500.

If you support Trump because you think he's an outsider and successful businessman who isn't like "crooked Hillary," think again. This is exactly what I mean when I say he's just as establishment as "the establishment" he pretends to run against. He's buddy buddy with enough pols that he can get favors like this, which others don't.

The only reason he appears remotely successful is his ability to legally embezzle, if you will, from his failing businesses.

 

[cpwill]

Blue italicized text from article.


The following article discuses financial troubles Trump's casinos ran in NJ (shocking, I know). Specifically, they were nearly thirty million deep in overdue taxes. "The state had doggedly pursued the matter through two of the casinos’ bankruptcy cases and even accused the company led by Mr. Trump of filing false reports with state casino regulators about the amount of taxes it had paid."

But then, a year after Chris Christie took office (and six years of bankruptcy litigation), the state took an abnormally low settlement of five million. The casinos that got this cushy deal, "did far better, for example, than those that benefited from a program Mr. Christie introduced in 2014 under which the state agreed to consider reducing penalties for delinquent taxpayers but only if they caught up on all overdue taxes and interest. Public records do not create a clear picture of how the agreement was reached. A spokeswoman for Mr. Trump said she would be in touch regarding questions sent to her. But she did not reply further or respond to subsequent messages."

http://www.nytimes.com/2016/08/17/us/politics/trump-chris-christie-casinos.html?_r=0

Oh right, and there is also this little nugget: "The Times discovered the agreement during a review of the thousands of documents filed in the bankruptcies of Mr. Trump’s casinos. The taxes went unpaid from 2002 through 2006, during which time Mr. Trump was leading the company as chairman and, until 2005, as its chief executive. He reaped millions of dollars in fees and bonuses from the company, even as it underperformed competitors, lost money every year and saw its stock collapse."

The article also notes things like false reporting by Trump's businesses. For example, the Taj Mahal claimed it paid 2.2 million in alternative minimum taxes when in fact it paid.....

....it paid $500.

If you support Trump because you think he's an outsider and successful businessman who isn't like "crooked Hillary," think again. This is exactly what I mean when I say he's just as establishment as "the establishment" he pretends to run against. He's buddy buddy with enough pols that he can get favors like this, which others don't.

The only reason he appears remotely successful is his ability to legally embezzle, if you will, from his failing businesses.

Interestingly enough, his campaign seems to be spending a surprisingly large portion of it's money on....


....Trump businesses.

 

[Mr Person]

Even things like this..."The Trump casinos may not have been able to afford their long overdue taxes, but they did not turn suddenly spartan, either. They continued to rent a helicopter from Mr. Trump for $390,000 a year, until they filed for bankruptcy again in 2014."

What a slimeball. There's a word missing from his preferred self-praise: He's a successful business confidence man.