I heard trump would be worth more money than he claims to have if he’d just let it sit in the bank, on CDs and the like
If he went bankrupt after he inherited all that money from his father, wouldn’t that mean any wealth he got after that was earned himself? Sorry, I didn’t mean to interject logic into what is clearly…another kind of thing.
No Ucc, he bankrupted business, not himself personally. So he got out of paying his creditors and his own money was protected. He just screwed the investors and the contractors through the courts. But that makes him smart right?
Like I take a loan from wells fargo and open, mr reasonable’s lawn care, then I pay myself a salary that’s huge and then the company goes under because of it. You work for me cutting grass as a contractor and I owe you a bunch of money for having to break our contract, and I owe wells fargo for the loan. So the company goes bankrupt, I settle with you for pennies on the dollar, and with wells fargo who probably doesn’t even get paid at all, and my personal money is still in the bank because it wasn’t mr reasonable who went bankrupt, it was “mr reasonable’s lawn care LLC”.
Do you get how that works? Apparently, doing shit like this makes you smart. Before this election I was unaware of that.
This is like the skeezy restaurant franchisees who will have 10 locations of a fast food chain, and 1 guy owns them all, but he forms as many LLC’s as he needs to so he can split up the company so that he doesn’t have to insure his workers and so that in some conditions he can get exemptions for certain labor board requirements. In Alabama, the dept of industrial relations doesn’t do enforcement on businesses that gross less than 1.5 mil a year. So if you’ve got 6 restaurants you just form 6 LLC’s and then you can mistreat your workers in a variety of ways.
That’s probably smart too. I mean, seems like if there’s something or someone out there that you could exploit for your own gain, then it’s just smart to do that. You’d be dumb not to figure out a way to fuck your investors and contractors and workers. You just can’t have good business without doing those things.
Plus…when you say, “earned”, can you give me a little bit on what you mean by that? I mean, I know a guy who works in a factory earns his paycheck, but capital gains aren’t earned income. So there’s some line between earning money and just getting money, and I honestly would like to know your take on where you think that line is.
Be that as it may, surrepticious was saying he gained his money as inheritence and not through earning it. That’s obviously false and that’s what I was pointing out.
Obviously for any line you try to draw, there’s going to be some sort of financial activity that stands astride it. I just mean he got the money in the way businessmen do, and not as a result of inheritence as surrepticious claimed. I’ve no interest in exploring whether farmers, pawn shop owners, drug dealers, stock market speculators or anybody else truly ‘earns’ there money or merely ‘get’ it. Trump did a bunch of clever, shady, legal shit to get ahead. He’s never hidden that fact, and was quite open about it on the campaign trail.
Bankruptcy doesn’t mean you lose all your assets, just that you can’t pay your debts. I recall he had to sell a big chunk of his properties, but not all. I recall this from a old NBC Dateline Documentary on Trump from way, way back when.
He hardly started from scratch. I just don’t get why this matters so much… I know a lot of people who went bankrupt. I’ve started from literal scratch twice (non-bancruptcy, just dirt poor homeless poor), it doesn’t result in buying NYC properties.
I don’t see why everyone insists that he had to magically build a business empire sane way Gates or Jobs did. Can’t really do that in luxury properties.
It wasn’t like everyone wasn’t very, very well aware of Trump’s business practices when we elected him. He tried a lot of ideas, a chunk of them failed, like the Trump Steaks, some are a pointless joke that technically could never hurt him financially, like Trump Water. His university was 100% legitimate, knowing everything I know, no rule you MUST be accredited, and yes, colleges are businesses and can push their own courses for profit. If Trump did something wrong, more than half our nations colleges need shut down. Sucks if you were so stupid that you never did your research before trying for a “accredited degree”, usually people check to make sure, and advancing to take those master courses likewise can be quite the impressive scam, be it Oxford or Cornell.
Why the fuck, should I care? Hillary and Bill got their money via fucking over Haiti. Trump actually set out to earn his. He made money appear via economic acquisition and investment. They made it by playing on people’s gullibility, thinking they were helping those in need. Bill wasn’t content to live off of doing speeches like most ex presidents do, or Hillary off her Senator pay. Does Jimmy Carter have that much money?