“By his own account, in 1976, when he was starting his career, Donald Trump was worth $200 million. Today, he says he’s worth $8 billion. If he’d put that original $200 million into an index fund, and reinvested the dividends, he’d be worth $12 billion today.” — Robert Reich, author of The Common Good
He went bankrupt how many times? One was a casino? How does anyone lose money with a casino? — Multiple Observers
The United States is borrowing $955,000,000,000 nearly a trillion dollars next year. The Department of the Treasury – the Trump Administration Treasury Department – cites the reason for that as “fiscal outlook.” Gee, I thought everything was rosy.
The Congressional Budget Office reports, “tax receipts are going to be lower.” The tax restructuring, primarily to benefit those at the top – way at the top — is costing us all. The Department of Treasury projects borrowing $1 trillion in 2019, and $1.1 billion in 2020.
I know that deficit spending is not the same concept as national debt, but you know as well as I do that the two are in a relationship.
Speaking of national debt, it looks like we’re running one of $21,000,000,000,000.00. That’s 21 trillion dollars, plus some change. OK, plus a large amount of change. The last year’s figure was 19 trillion dollars.
The nineteen trillion dollars was highest level of national debt ever.
Trump said, when he was running in 2016, that it was not unreasonable to think that the national debt could be wiped out in eight years. After almost two years, Trump is running down the field the wrong way. Any way you want to cut it, two trillion dollars is more than chump change.
Some people tolerate Trump’s egregious flaws because they think he’ll help the economy. Perhaps he deserves some credit for not yet having built any part, not even an inch, of his ridiculous and very costly wall. How could a wall ever be defeated, other than by going over, under, around, or through it?
But I do chide him for the “tax cut” that went to the wealthiest of the wealthy. The Very Very Rich benefit greatly. The rest of us, not so much. Because so many people caught on to his “tax cut” sham, he talked a few days ago about instituting an actual tax cut for the middle class, to be put into effect before the 2018 midterm election. I look forward to seeing that happen.
My experience in economics comes from making choices which include, over the years borrowing less and saving/investing more. We spend, but not extravagantly.
Now, days before the election, Trump has a plan to send 15,000 troops to the Mexican border. The military does exist to enforce laws, in fact, that is specifically delineated. What will those 15,000 troops do, stand at the edge of the United States, and not arrest “the invaders”? Women, children, some guys, and, of course “Middle Easterners.”
Trump’s fellow Republicans march in lockstep with him. He’s having a little hissy fight with his own party’s Speaker of the House , Paul Ryan, a week before the midterms about the stunt. Weird, isn’t it?
Should our federal government run similarly? Rather than increase deficits and debt, should they behave more responsibly? Both parties have plenty to answer for, but it seems that one party, more than another, over promises and under delivers.
Everything is rosy if you are a very wealthy. Trumpy made tax cuts that look good for him six years from now. Only if you are stupid enough to vote for the liar again. Build a $30 billion wall that can be breached with a $30 ladder from Wal-Mart. Twice as many troops as the caravan has, do you think our troops two to one can handle a starving child? Not everyone can live here, but there are better ways to handle this.
Just curious, please explain the better way when three to four thousand people arrive at the border. Will they be patient enough to wait to be processed?
Oh, Harry, they scared you didn’t they? Those Fox News people, and Trump. It will be a little late for picking fruit in Michigan by the time they walk 1000 to 2000 miles. But maybe there will be some agricultural work in warmer states. My friend’s daughter was in her dorm at Kalamazoo College, lamenting about not having a summer job lined up. One of the other girls – a scholarship kid – said “you could always come with me to join my family to work on produce in Texas. My friend’s daughter did. The work was difficult. The pay was low. But she did it. She was only one that wasn’t brown skinned at the start – but by the end she was a whole lot darker than a summer hitting the beach would have made her. I tried to treat your question with the seriousness it deserves. Are you actually thinking we should send 15,000 troops to the border? Or build a wall? Don’t you see what’s happening?
I am sure 15.000 armed troops is not the answer. how about the $ billions sent in aid get to the people who need it. not the dictators. That would make their countries better and they would want to stay. But just like the USA the rich get richer and the poor get poorer. Or maybe the wealthy congress and senate members could get along and come up with a plan . I admit i dont know everything if i did I would for GOD.
NASA has yet to detect the plume of dust by the 400,000 invading or boarders. Maybe Trumpy can look. I hear he is a good judge of crowd size. Being a scientist’s nephew, I’m sure he can tell.
Over $9 Trllion dollars of debt piled on by Obama and not a discouraging word by the media (fake news) or Democrats. That is more debt in eight years than the USA history before 2008. Obama was an amateur and ineffective president. But he was an excellent teleprompter reader, even in front of elementary school students.
Yes, there is. But it would not be politically correct nor judged humane.
Prior to the 2017 Tax Act business owners could pay themselves a salary and if the business showed a loss for the year, the business owner could show that loss on their 1040 and reduce, possibly eliminate all tax liability for the year.
That was changed with the 2017 Tax Act. Now the only business that is eligible for transferring business losses to the personal income 1040 are real estate investors. Like Donald J Trump.
Just llike his father before him, Donald J Trump is stacking the deck to minimize or eliminate his tax liabilities. How does that work? Make sure you provide costs for renovations of residential or office leased properties that exceed the annual lease revenues. That way the business entity doesn’t pay taxes and the loss gets transferred to salaried ownership that reduces or eliminates tax liability.
Go to fact check .Trumpy has lied at least 82 times on his most recent campaign swing. With four more days to go, that could easy reach 100 times.
Less than 2% of Mideastern terrorists try to enter the USA by land, most by airplane. How tall does that wall have to be? More jobs added in October? the same thing has happened for years — temporary help for holidays. Trumpy taking credit from Santa too.
The way I see it, no I’m not scared, but I am concerned. How do we as a nation find suitable housing, jobs and other necessities these people will need. We can not find adequate affordable housing for our homeless. Our citizens can not get proper affordable health care.
So I’m sure those who welcome this mass arrival have everything figured out.
The fear I do have is blood will be shed at the border. Desperate people do desperate things. If our President holds true to his past actions, those who try to breach the border will more than likely end up shot.
If no one believes violence will prevail, they are dreaming. Many may hate this President, but despite all the double talk and tweets, I believe he would have no remorse in shooting everyone trying to storm across the border, just because he believes he is protecting this country.
People on the left fail to realize our President is not alone in his line of thinking… if he was, the office of President would have someone else leading our country.
Do we need a wall? Only if the wall operates as the Berlin Wall, where breaching it ended in death. Otherwise, it’s a total waste of money.
As for the troops, I think numbers will frighten those headed for the border. I believe what, who, how or why this many at one time decided to come one thing is certain most will not wait to be correctly processed.
People must ask themselves after walking that far, would you wait for the process to legally enter? I’m guessing not and neither will the majority of them.
I do have fear but not from those headed here.
Harry, I find we have some areas of agreement. Suitable jobs, housing, and affordable healthcare is something that a rich country like this should be able and willing to provide to our citizens. Other issues are thornier (I think that a lot of those able-bodied “caravaners” may well want to work, and may well be willing to accept difficult work for low pay, like the housekeepers at public lodging, or roofers. This summer there was a roofing project across the street, and, if I wanted to open the window by my desk, I couild hear the sweet sounds of mariachi music and spoken Spanish, while men nailed shingles onto a high, steep roof. Maybe they were all documented. Maybe not. But, they worked hard, and the roof looks great). I don’t have it all figured out. Neither, it seems, does our president.
I suspect you could be right about Trump having little or no remorse about ordering the military to fire on people throwing rocks – based upon what he implied, and what he said.
Donald Trump is our president, but the majority of the Americans that voting in 2016 selected his opponent, speaking to your point of who is leading our country.
I don’t think you’re advocating our own version of the Berlin Wall. Even Reagan was no fan of that monstrosity. But, as you point out, an unprotected wall would not achieve the desired result.
It’s nice to think we can find some commonality. Thank you for spelling out your thoughts on this.