Agnostic.com

11 6

LINK As a Businessman, Trump Was the Biggest Loser of All | The New Yorker

Between 1985 and 1994, the Times story says, Trump’s core businesses lost money every single year, and the accumulated losses came to more than a billion dollars. “In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer, the Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners,” Buettner and Craig write. “His core business losses in 1990 and 1991—more than $250 million each year—were more than double those of the nearest taxpayers in the I.R.S. information for those years.”

In case you didn’t take all that in, here is a quick recap: when Trump was portraying himself as a newly minted billionaire and financial genius, his core businesses were losing money hand over fist. Assuming the Times reporters’ analysis of the I.R.S. data on high earners is accurate—and there is no apparent reason to doubt it—he was the biggest loser in the country for two years in a row.

HippieChick58 9 Nov 14
Share

Enjoy being online again!

Welcome to the community of good people who base their values on evidence and appreciate civil discourse - the social network you will enjoy.

Create your free account

11 comments

Feel free to reply to any comment by clicking the "Reply" button.

0

I don't understand why you call him a loser if, despite significant losses, he managed to live well and become president of the United States for one term.
And do not jump to conclusions. Dry statistics with losses and profits can be very deceptive. No one knows what was going on outside of accounting and tax books.
I'm not saying that it's worth taking an example from him. But he was not afraid to take risks and taking risks. A year ago, I decided to invest. At first, I didn't succeed, but then I turned to a financial advisor helping me with financial goals personally.
And I realized that only self-confident people ready to lose could achieve something in business.

Qeser Level 2 Jan 6, 2022
1

I think most people in the know, know this. Daddy's money got him out of trouble. Besides why would anyone want a billionaire for president especially one who complains about how the rich are taking over the country (as do many of his fans (sheep)?

2

I did read when he was first put up for election, that in total, all his business ventures that he inherited, had made less than bank interest rates in his time. Which is about as failed in business as you can get without going broke. So why did all those people say, it will be great to have a business man for potus, when the qualification , "failed business man", was just waiting to be said.

2

Please keep in mind, it appears that his companies lost money. They lost because he transferred income to himself (covered by tax doges as necessary). Losses fell to investors, but he profited.

1

Big mouth, tiny acumen...and other things, I hear......

3

It is pretty hard to lose money when you are running the gambling game, but he managed to do that at least twice.

3

That's why he sucks in the Russian money in return for favors. No bank here would lend him anything.

2

Doesn't surprise me😝

2

And he's still the biggest loser!

5

without his illegal corruption and scams, the idiot would be flat broke.

3

Still the biggest loser, on all counts.

Write Comment
You can include a link to this post in your posts and comments by including the text q:426515
Agnostic does not evaluate or guarantee the accuracy of any content. Read full disclaimer.