US billionaires' fortunes have skyrocketed $845 billion since March

I don't think Trump's parents read that one to him. They just gave him everything he wanted.

 

Yeah, I thought Greenspan was the worst on that (we called him Uncle Al, the Mad Printer) but it keeps getting worse.

 

When?

That was the big promise when Trump cut taxes for corporations, but they didn't add many jobs. They used that largesse to buy back their own stock and increase dividends to major stockholders, and pay higher bonuses to executives.

 

I myself witnessed trickle down first hand. I got sent to a rich mans house to see what was wrong with his generator. When I got there his house cleaner answered the door. He had someone servicing his air conditioner unit. Another company was cutting the grass and someone else was out on the dock washing his yacht. If that isn't trickle down what is it? Or did you mean the rich man should have just sent me a check while I sit home and play video games?

 

No one should be against free enterprise because small business' is what made this nation what it is. Unfortunately, small business' are being hampered by taxes, regulations and high rents, so it's difficult for them to compete with the mega corporations.

If a small business does become successful, then a corporation will give them an offer that is hard to refuse. At first, I couldn't understand why stores like CVS were opening within 2 blocks of one another. Now I know it was to knock out the small pharmacies. I was told that in Manhattan, there are Starbucks on opposite corners of one another. The small luncheonettes are all gone.

Today with Covid and all the bankruptcies, these mega corporations have been given the opportunity to buy up almost everything. So much for free enterprise.

 

The billionaires weren't affected by the Covid shutdowns. The working people were. Thanks governors and mayors.

 

Trump's father was a relatively prosperous man. It was Donald who turned that small fortune into billions.

G O T C H A !​

 

The intent of lowering corporate taxes was to bring the corporations back into this country.

 

Did you intentionally miss the point, or did you have to work at it?

 

Irrelevant to the point I made, and thus, the point you just conceded.
Well done.

 

https://en.wikipedia.org/wiki/Fred_Trump
[...]
Wealth and death
In 1976, Trump set up trust funds of $1 million ($4.5 million in 2019 currency) for each of his five children and three grandchildren, which paid out yearly dividends.[90] Trump appeared on the initial Forbes 400 list of richest Americans in 1982 with an estimated $200 million fortune shared with his son Donald.[107]

Assuming that Trump started his carer in 1982 with $200 million and today he is worth $4-5 billions, it means his business grew 8-9% a year. Not very impressive.

 

That wouldn't do it, you would have to change the tax structures back to the way they were before the Reagan nuts screwed them all to hell.

 

Donald Trump became famous in 1978 when he moved his father's business from Queens and the boroughs, and ventured into Manhattan to restore the derelict Commodore Hotel in the bankrupt city. He was only 32 and someone said if he was older he would not have had the courage. But he did have it, and he started the NYC renaissance. Of course now with the liberal mayor, the city's back into its poverty state - once again.

This is from Wikipedia:

He became president of his father's real-estate business in 1971, renamed it The Trump Organization, and expanded its operations to building or renovating skyscrapers, hotels, casinos, and golf courses. Trump later started various side ventures, mostly by licensing his name.

​

 

Trump, unlike others who gain financially by becoming president, Trump's enterprises have lost over 30 billion from the time he started his presidential run.

 

So it looks President Trump is $26 billion in debt:
https://en.wikipedia.org/wiki/Wealt... 2019 billionaires ranking,as of 5 March 2019.
[...]
In its 2019 billionaires ranking, Forbes estimated Trump's net worth at $3.1 billion (715th in the world, 259th in the U.S.) as of 5 March 2019.[25]

 

I thought I saw $30 billion somewhere but I might have made a mistake. I can't find it. Then again maybe it was referring to the Trump Enterprises and whatever corporations his children own and maybe even the trust funds, but I don't know. What Trump's personal loss has been from the time he became president, is anywhere from 3 to 5 billion. As for Forbes, how would they know what he owns unless they spoke to his accountant.

 

I always like reading your poems.

 

Pelosi knows that she can obstruct, drag her heals, not pass any relief to the citizens and that media will assist in somehow making that "Trump's fault".

The "people on the left" opposing Pelosi are not politicians. They are media commentators who lean toward Socialism as opposed to the continued duopoly of RINO/DINO partnership, represented by Pelosi and the rest of the old-guard establishment. In other words, they are also not Trump fans, and they are not elected officials.

 

You obviously don't know the real history of that family. Daddy was still bailing The Donald out due to his poor business decisions right up to the day he died. After squandering daddy's last $200 million or so, Donald had to go to banks for backing on his projects. After several bankruptcy filings and defaulting on many bank loans, Donald had to start getting his funding through other less reputable lenders, leading him to the likes of the Bank of Cyprus and Deutsche Bank, both of which are currently paying huge fines and are under intense scrutiny for laundering money for Russian and other Eastern European oligarchs.

As for his being a billionaire as he claims, that's debatable. We won't know the truth of that until we see his full financial documents and tax returns, all subpoenaed and all being fought out in courts right now. I've often wondered at his extreme reluctance to disclose his real finances ... I strongly suspect that it is less about exposure to illegal financial dealings and more about hiding the fact from his supporters that he's not as fabulously wealthy as he claims. Just a theory, but it would fit with his extreme egoism.

 

Really? At the expense of adding about $7 trillion to the deficit?

How has that worked out? How many corporations moved their headquarters here after that tax break? How many Americans have they hired?

 

No one is blaming Trump for the lack of action in congress on relief. The blame should go directly to McConnell.

 

And yet the Don's popped a whole lot of tariffs on China to stop that pesky free market. Oops!

 

Not a "pesky free market". To get America out of proverbial bent over and grabbing the ankle position. We're now standing tall, my friend

 

Is that right? Because that's not what I'm hearing from metal workers and farmers.

China is not paying those tarrifs. We the American consumers are.

 

Rich people have a social responsibility to live in luxury; this is something Democrats too practice, but will never publicly admit to the voters they shepherd. Take Bozo's $400mln yacht for example - how many people got good incomes building it, servicing it, operating it?...

Many!