Trump’s campaign is bragging that not paying taxes makes him a “genius.”
Rudy Giuliani and Chris Christie referred to Donald Trump as a “Genius” for losing a billion dollars in one year,1995, in the midst of an economic boom (Trump will tell you it was a time where businesses and casinos were failing; only his were. Years later Atlantic City had problems as a whole but it was after he had been given the boot). In the 1980s under President Reagan and his first term “Voodoo Economics” the economy was down, then slightly recovered. (Trump wants to return to that with his own Trumped Up Trickle Down version of Reagan’s “trickle down theory”). I would think it would be more genius to make a billion during an economic boom, not lose it. So is Donald really a genious or is it folly, and are Donald’s shills Rudy and Chris just all that more foolish? Donald says he is a genius for failing and then making a comeback. Donald Trump filed bankruptcy 4 times. His first bankruptcy was in 1991, the Taj Mahal Casino. 1992, Trump Castle Associates; Trump Plaza Hotel in New York, Trump Plaza Hotel and Casino in Atlantic City and the Trump Castle Casino Resort. 2004, Trump Hotel & Casino Resorts-Atlantic City casinos, and a riverboat. 2009, Trump Entertainment Resorts. Did Donald Trump break any laws by using available bailouts to his inept business practices? No. At least not from what was revealed so far. Chances are the reason he won’t reveal his tax returns is because he is hiding something that he doesn’t want revealed. Donald Trump says he brilliantly took advantage of the tax codes and laws to protect his company, his family, his investors, and employees. Donald Trump took his father’s fortune and squandered it, amassing millions, billions in debt, from poor judgment and mismanagement. Throughout his career Donald’s “protection” of his investors was to screw them out of their investment, employees were left without jobs, “OPM” (other people’s money) was lost, banks were screwed, lawyers were screwed, vendors were cheated out their contracted services and had to accept pennies on the dollar or nothing at all. Donald Trump said go ahead an sue me, it will cost you more in legal fees that you will ever get back. Donald Trump claimed he was a billionaire back in 1995 but his same Federal Income Tax return that showed almost a billion dollars in losses only showed an earned income of 3.4 million dollars (Clintons paid that much in taxes in 2015) as pointed out by Lawrence O’Donnell on MSNBC’s The Last Word. There was additional investment income but, it would be more realistic for a billionaire to have an earned income in upwards of 100 million or more per year. Is Donald Trump a business “genious”? Experts disagree. Donald Trump is not someone we want mismanaging the business of running our country.