Trump’s Financial Dependencies
Until recently, the term “Tea Party” referred to the Boston Tea Party, a protest which took place in 1773. Colonists who objected to British taxation without representation “demonstrated” by taking British tea from docked ships and dumping it into Boston Harbor. The incident had a strange racist overtone because the lawless Bostonians dressed up as Native Americans, complete with face paintings. I’m not sure why the protestors would have wanted the British to think someone else did the deed, but those were strange times. The goal of “looting” and “destruction” was to make it clear to people in American and across the pond that our left-wing, radical patriots wanted change.
Did this rebellion work? Not exactly. In retribution, the British passed the Coercive Acts, also known as the Intolerable Acts. They closed Boston Harbor until those involved with the destruction paid for the dumped tea. They also tore up the Massachusetts Constitution and ended free elections of town officials. So, I guess they figured out they needed a revolution.
Donald Trump brags about not paying taxes because he, genius that he is, found all the loopholes. Instead of working to eliminate those loopholes, he believes it’s okay for rich people to cheat. How unpatriotic to not pay your fair share in this great enterprise known as the United States of America.
We all know that the Donald has no problem deceiving us. He used to say he was under an IRS audit and that is why America could not learn his financial records and monetary entanglements with multinational banks, investors and oligarchs. To whom does Donald Trump and the Trump organizations owe money? He must disclose his financial status.
There are extremely strict penalties for anyone leaking someone’s tax returns, and obviously that punishment stands as a reasonable deterrent. Mary L. Trump released some of Trump’s tax information. That material was part of the discovery process in her lawsuit with the family. Her late uncle, Robert Trump, did all he legally could to stop her from releasing the information, but it wasn’t enough.
The Republican party used to care about taxes and transparency. When they’re in office, however, they usually run up the national debt and give away more money than they take in, just like Donald Trump. It’s totally out of control now, and it might make some sense for the America people to know if this president’s wildly destructive tax changes, regulation purges and easing of environmental constraints aren’t evidence of the true weakness of Donald Trump. He doesn’t manage money very well.
Go back and see the path of red ink that led banks to assume all power of the purse in his companies. Congress has done a mediocre job of managing the economic fallout caused by the pandemic. They’ve put money in the hands of the big companies but have failed small businesses as well as the lower and middle classes. In Donald Trump’s America, many temporary layoffs will become permanent this week.
Sure, Walmart, Fed-Ex, UPS and Amazon are doing well, but there are some profound cracks in our economy. According to the Washington Post, “Yelp Inc., the online reviewer, has data showing more than 80,000 permanently shuttered businesses from March 1 to July 25. About 60,000 were local businesses, or firms with fewer than five locations.” How has this global pandemic affected the Trump Organization, a privately held company? Let’s see.
Here’s a headline from the Canadian Broadcasting Company’s website, “Trump Hotel in Vancouver closes as company files for bankruptcy.” Most of the Trump properties are not owned by Trump. The boys sell their name and branding to other hotel and housing developers for a percentage of their profits. Over the last four years many of these properties are not doing well. Trump is an asshole and people don’t want to be associated with him.
Time magazine broke this story, “Companies associated with President Donald Trump and members of his administration were among recipients of small-business COVID loans, newly released data show.” Has the Trump family benefited from the Paycheck Protection Program? We need to see their financials AND Trump’s personal tax returns!
Corruption is a dastardly and dirty way to show love of your country. Trump loves only Trump, and that is where it’s at. He would rather lose the election than be forced to release his tax returns. Mark Cuban, a guy with a true business sense, believes that Trump refuses to release his tax returns because it would show, as Mark says, “He ain’t that rich.”
We all owe money. Some are still paying off their college loans. Many people carry a certain amount of debt on the little plastic helpers in our wallets. According to the most recent data from the Survey of Consumer Finances by the US Federal Reserve, Americans have an average credit card debt of $5,700. For some, their family debt lives in the $10,000+ range. It’s how many of us pay for things like dental care, home improvements and yes, even taxes.
If the Donald is deceiving the IRS, a department of the government he oversees, then how can we trust him with our money? In an op-ed piece in the New York Times, Tom Friedman wrote, “Biden should declare that he will take part in a debate only if Trump releases his tax returns for 2016 through 2018. Biden has already done so, and they are on his website.” Many political pundits and TV talking heads were quick to denounce the idea. They pointed out that Trump would make a big game of such a confrontation, not disclose his financials and skip the debate. Trump would say that Joe Biden was afraid to debate him and is weak and senile and blah, blah, blah.
The conman residing in the Oval Office will continue to stonewall any attempts at disclosing his money and debt. He’s a blind, little mole in a hole. He cannot bear to have transparency and sunlight show who he really is. The ill-fitting suits, the makeup, lies and deceptions show what a weak, fumbling coward he is. He knows he will be nailed as a failure should his financial material be released. The plain truth is, we don’t need to see his taxes to know he’s a fraud and fiasco. More than 180,000 of our brothers and sisters have died on his watch. Donald Trump is a loser.
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