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Monday, October 03, 2016

NYT praises Trump's business acumen

The New York Times on Sunday violated federal law by publishing tax information about Donald John Trump from 1995. The year is interesting because on October 25, 1995, the New York Times crowned Trump the Comeback King. He lost a billion, and bounced back.

From the New York Times twenty-one years ago:
Crowning the Comeback King
Though there are still four years to go in the 90's, business and government leaders in New York honored Donald J. Trump yesterday for pulling off what they called "the comeback of the decade."
Mr. Trump, the developer who came to epitomize opulent wealth during the 80's before tumbling into deep financial trouble, has managed to erase much of his debt and is moving ahead with major projects at a time other developers are idling.
Judging from the attention showered on him yesterday at the Union League Club, some of New York's civic and business leaders are quite captivated by Mr. Trump, despite the financial uncertainties that still surround some of his properties.
But the operative word at the luncheon was comeback, though Mr. Trump might dispute that he ever went far away. William D. Fugazy, the limousine magnate and chairman of the Forum Club, the group of business and civic leaders that sponsored the luncheon, presented Mr. Trump with a boomerang encased in glass. "You throw it and it always comes back," he said as he handed it over.
In a flattering speech, Lieut. Gov. Betsy McCaughey called Mr. Trump "the comeback kid." Charles A. Gargano, who as chairman of the Empire State Development Corporation is himself considered one of the new powers of the state, joked about a Perot-Trump presidential ticket. "He would be the most loved Vice President since Spiro T. Agnew," he said. Mr. Gargano, who heads the state's economic development efforts, added, "Thank you for your tax dollars."
For you youngsters out there, Agnew was not loved at all.

Trump was a winner.

Still is.

Anyone who has had a business deal go sour knows what he did.

***

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11 comments:

  1. If The Donald had even a whiff of cheating on his tax refund for ANY year you can bet that the IRS would have been all over him. Prosecute the NYT. Then sue them for defamation of character. Make Carlos Slim regret the day he became the major shareholder. - Elric

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    1. Exactly! The fact that his enemies haven't found anything so far means there is no there there.

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    2. We KNOW the IRS is on Hillary's side in this election. The Won won't have it any other way...unless he gets his revenge this month.

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  2. Better people use the tax laws to keep as much of their money as possible instead of the government squandering it and padding their off-shore accounts.

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  3. Nobody in his right mind pays more than he has to.

    The Gray Lady wants to fan a little class warfare.

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  4. See, what y'all don't understand is that the rabid Libs think it's their money, not yours. You didn't earn that! Including your IRA. It's their money. And they will do their best to get their greasy Pharisee fingers on every last penny of it...

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  5. Anyone who owned stock in late 2008 probably lost a fair bundle of money during the dramatic free fall of the stock market in October 2008 through March 2009. I know I had my share of losses before I could stop my accounts from bleeding red...and I had a very conservative portfolio at the time. And that meant most investors in the stock market likely had a tax loss carryover when they filed their federal income tax returns for 2008 and 2009. In the aggregate, for all investors, the paper losses probably amounted to several trillions of dollars. Were all those people---like me---supposed to ignore those losses when they filed their tax returns in the following years and to forego the offset of those losses against income, as the Internal Revenue Code permitted? I don't think so.

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  6. Since most Leftists have never run a business, never been involved in running a business, and have no idea how business works, this seems like a scandal.

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  7. So our leftie lib "betters" say following the tax laws are somehow cheating? Or the gov't needs to raise taxes?

    How many of them have "donated" to reduce the debt?
    Pay.gov says you can write a check payable to the Bureau of the Fiscal Service (used to be called "bureau of the public debt"). In the memo section, notate that it's a gift to reduce the debt held by the public. Mail your check to:

    Attn Dept G
    Bureau of the Fiscal Service
    P. O. Box 2188
    Parkersburg, WV 26106-2188

    I don't know if the gift is tax deductible.

    (I actually sent in an extra $50 back in the Jimmah Cahtah days.)

    Or, you can do it online by going to pay.gov https://www.pay.gov/public/form/start/23779454

    The gov has actually gotten over two mil in gifts so far this year:
    http://www.treasurydirect.gov/govt/reports/pd/gift/gift_2016.htm

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  8. I pay all my taxes because I don't want to get in trouble with the Gestapo, not because I think it is the "moral" thing to do. (Plus I'm in the type of business where hiding income is impossible.) In fact you could argue that paying money into a rogue, criminal government is immoral. In any case I don't consider telling the truth to a government bureaucrat to be a moral imperative.

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