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As I recall, the public perception of bankruptcy really started to change in the early 1980s. As for presidents, Jefferson, Monroe, Wm. Henry Harrison, Lincoln, Grant, McKinley, and Truman all had serious financial problems (including bankruptcy or near bankruptcy) at various times in their lives.
Bankruptcy comes in many flavors, like Chapters 7 & 13. The reasons one gets there is varied, from simple spending beyond one's means, to a medical emergency, family issues, losing a job, or even just a series of misfortunate events. Those on the outside looking in sometimes stigmatize those her are bankrupt, if that person lets it be known. Many times it's a negative feeling.
But here we are, one of the two presidential candidates pretty famous for his multiple bankruptcies. Here's a man who somehow to date how's pushed through the negatives to get this far. Many people can't get financial jobs if they are bankrupt, as employers may not trust that person. Yet a large % of this country is saying thy will let a person who has been bankrupt run the country, which includes finances and decisions that could ultimately affect us. That's some trust.
Has this happened before in major politics? Many businesses have gone through bankruptcies, obviously affecting others along the way (not paying 100% of debt, etc), and people losing their jobs. Yet a person with a strong history in bankruptcy although may not win has been brought this close. I find it somewhat amazing.
That's because you don't know the facts or well, anything about it.
OK first for starters, Trump was never bankrupt.
It's far different to have COMPANIES file a chapter than what you're describing and the hyperbole.
And his were CHAPTER 11 reorganization/ restructure. Out of HUNDREDS of companies he has. Not 7 and not 13. Weird you left out 11.
This theory is out of thin air.
People have been filing for BK for DECADES not even knowing anything about Donald Trump. THAT is why they had to re-write the BK code to STOP STUDENTS from declaring BK on their student loans DECADES AGO.
Last edited by runswithscissors; 10-13-2016 at 03:17 PM..
My point was that Trump doesn't know taxes. His hired people do. Just like I do.
And most likely those advisors did advise him on who to pay and what to do come investment and also BK time.
Yeah, I'm pretty sure he hires people to do his taxes.
Especially considering it's a full time job. For MANY people.
Following the story would help you avoid "most likely".
His very own [retired] tax guy was interviewed in FL who said you'd be a fool not to use loss carry-over tax provisions LIKE EVERY OTHER COMPANY including the NYT who wrote the article bashing him for it.
Also hilarious to think "Trump doesn't know taxes". You think he just sits around aimlessly having everything decided without his input and ideas? He knows enough.
hahah - yes, it's the same argument I hear from business majors and MBAs who cheated their way to their degree - they were just doing what they'd do in real life - subbing out the work!
The problem with a business person is not so much that they do illegal stuff...but that the ONLY objective of a business is to make money. And actually, if you can make more money than you pay in fines for doing illegal stuff, more power to you! Right? There is immoral behavior and unethical behavior that may not be illegal but isn't very pretty...THAT'S what we admire right? But I'd wager he and his smart advisors have managed to step over that line into illegal at least a few times...oh, but if he's not caught, it didn't really happen, right? yeah, some people make a lot of excuses for him.
Why are you saying all that? Based on disliking Trump?
He gets audited ALL THE TIME.
NAME what he specifically did that was illegal or in any way approached illegal?
So you're saying business people are evil for "making money"?
Yeah, I'm pretty sure he hires people to do his taxes.
Especially considering it's a full time job. For MANY people.
Following the story would help you avoid "most likely".
His very own [retired] tax guy was interviewed in FL who said you'd be a fool not to use loss carry-over tax provisions LIKE EVERY OTHER COMPANY including the NYT who wrote the article bashing him for it.
Also hilarious to think "Trump doesn't know taxes". You think he just sits around aimlessly having everything decided without his input and ideas? He knows enough.
Agreed. He knows enough about taxes. As do I.
Trump is certainly not aimless. Time and again he aims all over the place, and all at one time!
The point is, that based on his financial history, American banks won't lend Trump money anymore. The question is where does his operating capitol come from? The fact that he won't produce his tax return is bound to create suspicion.
Trump challenged Warren Buffet to produce his tax return, Buffet did just that, so what is Trump afraid of? Personally I would not want to give a person who has declared corporate bankruptcy four times, the power to run any kind of enterprise that I would want to be involved with.
So basically, this is just another bash Trump thread hidden as "economics". Do you realize the 4 BK were all the same enterprise - out of like, 500 companies?
You're making up accusations that don't even exist.
LOL that's funny you equivocate with "American" banks.
Since Trump had no problem even in 2012 getting a $106M mortgage on Trump Doral from Deutsche Bank Trust Co.
And after the Obama GSA awarded him the Old Post Office contract, who had no qualms "being involved with" The Trump Organization, another partner funding source Colony Capital. American, but not a "bank".
Seriously just stick to facts instead of nonsense imaginary corruption allegations. Try GOOGLE for answers. They're all out there.
Trump is certainly not aimless. Time and again he aims all over the place, and all at one time!
(lol)
lol
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He knows enough.
