The Federal Government is not run the same way that State govs are run and are not run the same way that businesses are run. They each have different mandates from their Constitutions or Articles of Incorporation or the SEC.
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The current Rep Governor candidates are bragging about their "cut! cut! cut!" state policies but they use the Feds as their emergency back up plan and piggy bank for every problem that comes along: hurricanes, floods, tornadoes, earthquakes, collapsed roads and bridges, health crises, ... . They cut their education budgets and seek Fed help to improve their bottom of the barrel (Arkansas) public schools. They cut their health budgets and seek Fed help to provide affordable health care to their citizens. They "cut! cut! cut!" in-state but cry "gimme! gimme! gimme!" to the Feds to pay for bailouts and urgent projects.
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There are many types of businesses but let's just start with one: SEC regulated for-profits. They have a fiduciary responsibility to their shareholders. They can start drilling a hole in the ground, decide it won't be profitable, declare bankruptcy and walk away from it ... and start a NEW company the next week.
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THE FEDERAL GOV CANNOT OPERATE THAT WAY.
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Trump called himself the King of Debt ("I’m the king of debt. I’m great with debt, nobody knows debt better than me. I made a fortune by using debt."). In addition to losing millions of dollars on failed ventures (Trump Shuttle; Trump Plaza; all of his 18 world class golf courses LOSES money year after year; etc.), Trump has filed for SIX BANKRUPTCIES, FIVE of them on casinos. *****During the 2016 campaign Trump even declared that he would renegotiate the national debt,***** a policy that EVERY economist, politician, normal person, and third grader said was insane and indicative of Trump's lack of understanding of the US economy and international finance.
http://www.dailywire.com/news/trump-yeah-so-ill-declare-america-bankrupt-james-barrett
Trump: Yeah, So I’ll Declare America Bankrupt.
"In a discussion on CBS News Wednesday about how he would handle America’s crushing debt, Donald Trump said he’d use the same approach he’s used for his businesses: “renegotiate the debt.” In other words, walk America through a form of national bankruptcy. ..."
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In 1970, Trump invested $70,000 ($527,000 in 2022 dollars) in a Broadway play, Paris is Out! It opened on Feb 2, 1970 and closed on Apr 18, 1970 after 96 performances. Not exactly Life With Father (3224 performances). Speaking of Life with Father, Trump's father Fred rescued Donald from serious business failures with cash bailouts time after time. When Donald was about to lose one of his AC Casinos, Fred sent a bag man with $3.5 million to buy some chips but not play them or cash them in. IT TURNS OUT THAT THAT IS AN ILLEGAL LOAN. "New Jersey’s Casino Control Commission investigated the chip purchase the following year and said it was an illegal loan that broke the state’s rules about casinos receiving cash from approved financial sources. The Inquirer wrote that a casino lawyer told the paper that “Fred Trump is ineligible for licensing, and Trump Castle should be required to return the money, a move that would almost certainly force it into bankruptcy court.” In the end, the casino kept the money and the commission fined the casino the relatively small amount of $65,000. But it didn’t save Trump. A year later, the Trump Castle went into bankruptcy, and Donald gave up half the casino to his creditors."
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In the late 1980s, Trump pictured himself as a Corporate Raider and concocted a series of Pump and Dump stock transactions. It worked at first but investors caught on to his lies: "By 1989, investors were less fooled by his moves. That September, he bought a large stake in American Airlines and announced a takeover bid. “I’m very skeptical of everything this man does,” Andrew Geller, then an airline analyst at Provident National Bank in Philadelphia, told The Associated Press. Mr. Trump was rebuffed, and the stock price fell sharply. Though at the time his losses were reported to be modest, the new tax return figures show that in 1990, the year he sold his American Airlines stake, Mr. Trump lost $34.9 million on short-term trades."
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(More recently, Trump's SPAC deal is unraveling due to insider trading and stock fraud. And some of Trump's fund raising organizations are being investigated for fraud.)
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Do you remember when Trump bragged about not paying Federal taxes for many years because he was SMART? It turned out that he had lost so much money that he was able to use his business losses to offset having to pay taxes for YEARS:
http://www.nytimes.com/interactive/2019/05/07/us/politics/donald-trump-taxes.html
"Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses"
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"... In fact, year after year, Mr. *****Trump appears to have lost more money than nearly any other individual American taxpayer,***** The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 — more than $250 million each year — were more than double those of the nearest taxpayers in the I.R.S. information for those years."
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Trump was "saved" by The Apprentice TV show and Mark Burnett. Trump inherited more than $413 M from his father Fred. If Donald had invested that in Index Funds he would be wealthier today than he currently claims to be. Trump got around $427 M from 14 years on The Apprentice.
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That's only part of Trump's "business portfolio and resume." Trump's PERSONAL bona fides as a businessman are abysmal. ***You would hire DONALD Trump to run one of your businesses?*** I think you really want to hire FRED Trump or Mark Burnett, the men who made Donald wealthy and allowed Donald to think that he, himself, knew "The Art of the Deal."
Posted By: durran421
Re: Let me tell you where I stand...
Unfortunately not everyone had the opportunity to "jump in and help." Supply chain IS my business.
We didn't have much choice but to play with the hand that we were dealt.
Our supply chain took a hit one million percent thanks to our failing administration.
Lets say this....sleepy Joe submits his business portfolio and resume to become your company president.
There's not a snowball's chance in hell you would have given that guy an opportunity. Especially with younger, better business applicants. If there were no other good quality applicants you would have held where you were.
That's what most business would do. So why in the hell would we vote that guy in as President of the US? If we wouldn't do it in the real world, why would we do it for that. Most people could see that coming from a hundred miles away. I guess there were eighty million who didn't.... So they say.
The Federal Gov is NOT a business. It cannot operate as a business. It must operate according to the Constitution. It can operate BETTER than it has for the past 60+ years but that does not mean it should operate like Trump Org, a business convicted of criminal fraud and soon to be convicted of civil fraud.
See also:
http://www.theeroticreview.com/discussion-boards/politics-and-religion-39/nyt-trump-tax-figures-show-over-1-billion-in-business-losses-338101 http://www.theeroticreview.com/discussion-boards/politics-and-religion-39/re-another-laughable-story----338147 http://www.theeroticreview.com/discussion-boards/politics-and-religion-39/re-you-dont-say-----423967