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GoLeft TV

(3,910 posts)
Mon Oct 26, 2015, 02:10 PM Oct 2015

Trump’s Rags To Riches Lie Gets Busted

Donald Trump has had a rough life. His dad only gave him $1 million to start his career, and he had to pay it back! The Donald wants average Americans to believe that he is “one of them,” but nobody is buying his rags to riches historical rewrite.

Ring of Fire’s Farron Cousins discusses this.

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Trump’s Rags To Riches Lie Gets Busted (Original Post) GoLeft TV Oct 2015 OP
This is wrong by several orders of magnitude - he inherited hundreds of millions in property, jtuck004 Oct 2015 #1
"Borrow from your parents." 3catwoman3 Oct 2015 #2
About a half an hour ago... gregcrawford Oct 2015 #3
The only way Trump will get in the white house is when the president invites him, shebornik Oct 2015 #4
 

jtuck004

(15,882 posts)
1. This is wrong by several orders of magnitude - he inherited hundreds of millions in property,
Mon Oct 26, 2015, 02:42 PM
Oct 2015

He is the beneficiary of someone who not only made him wealthy, but sent him to school to teach him how to steal from others and call it business.

He also learned to be a liar, bigot, xenophobic ass clown, and based on his leering at his daughter's body on tv, maybe a pedophile as well.

Fuck evillocks.

From their history...

This excerpt from "The Self-Made Myth: The Truth About How Government Helps Individuals and Businesses Succeed" tells the real story about how Trump got so obscenely rich.
By Brian Miller, Mike Lapham / Berrett-Koehler Publishers July 9, 2012

In March 2011 Forbes estimated Donald Trump's net worth to be $2.7 billion, with a $60 million salary. Many praise and analyze his “success” as if it were self-made, and they fail to attribute the proper credit to others in society where it is deserved. Despite what Trump may espouse, his success would have been in no way possible without his father, the general public, and the US government. Unfortunately, Trump decided to forget or selectively ignore these truths while forming his political philosophy, a sentiment made particularly clear during his brief bid for the 2012 Republican presidential nomination.



Trump was born in New York City in 1946, the son of real estate tycoon Fred Trump. Fred Trump’s business success not only provided Donald Trump with a posh youth of private schools and economic security but eventually blessed him with an inheritance worth an estimated $40 million to $200 million. It is critical to note, however, that his father’s success, which granted Donald Trump such a great advantage, was enabled and buffered by governmental financing programs. In 1934, while struggling during the Great Depression, financing from the Federal Housing Administration (FHA) allowed Fred Trump to revive his business and begin building a multitude of homes in Brooklyn, selling at $6,000 apiece. Furthermore, throughout World War II, Fred Trump constructed FHA-backed housing for US naval personnel near major shipyards along the East Coast.

In 1974 Donald Trump became president of his father’s organization. During the 15 years following his ascension, he expanded and innovated the corporation, buying and branding buildings, golf courses, hotels, casinos, and other recreational facilities. In 1980 he established The Trump Organization to oversee all of his real estate operations.

Trump eventually found himself in serious financial trouble. In 1990, due to excessive leveraging, The Trump Organization revealed that it was $5 billion in debt ($8.8 billion by some estimates), with $1 billion personally guaranteed by Trump himself. The survival of the company was made possible only by a bailout pact agreed upon in August of that same year by some 70 banks, allowing Trump to defer on nearly $1 billion in debt, as well as to take out second and third mortgages on almost all of his properties. If it were not for the collective effort of all banks and parties involved in that 1990 deal, Trump’s business would have gone bankrupt and failed.
...

http://www.alternet.org/story/156234/exposing_how_donald_trump_really_made_his_fortune%3A_inheritance_from_dad_and_the_government%27s_protection_mostly_did_the_trick


And his bankruptcies have, and continue to cost you, the taxpayer.

gregcrawford

(2,382 posts)
3. About a half an hour ago...
Mon Oct 26, 2015, 06:43 PM
Oct 2015

... my head exploded as I listened to New Hampshire Republicans, who wish they were as smart as a house plant, tell an NPR correspondent why they thought Donald Trump was the greatest gift to America since the zipper. One even made the case for a Ben Carson presidency. Jesus wept. These people shouldn't be allowed to breed, let alone vote!

Trump is a toxic waste of skin, and God fuckin' help us all if he ever gets into the White House.



shebornik

(127 posts)
4. The only way Trump will get in the white house is when the president invites him,
Mon Oct 26, 2015, 10:32 PM
Oct 2015

and I don't think Bernie would waste his time on him.

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