Now the big lottery winners are the politicians that can walk away with hundreds of millions of dollars on a hundred thousand dollar salary. Global extortionists can get billions to trillions also.
I would make a strong comparison between Donald Trump and Bob Hope. Hope invested his profits early on into land speculation. By his early 70s....he was probably one of the top ten wealthiest men in LA. Trump? Basically the same story...he bought land, and speculated upon the value, and built hotels that people wanted to visit.
Donald Trump’s father passed away in 2000.
Trump may have inherited a tidy sum from his father, but I seem to recall that Donald Trump had accomplished a thing or two on his own by the year 2000
>>Estate tax lawyers are paid quite a bit precisely because they’re able to help the rich legally shield their money from the grasping hands of politicians.
As I commented on the writers of The NY Times article this is responding to, if those three dweebs knew anything significant about income, gift and estate taxes they’d be making 5X - 10X their current salaries at the NY Times and be working as Tax CPAs, wouldn’t they?
Mark Levin already debunked the 55% charge by the times. There is adjusted gross income. You don’t just apply the 55% tax to everything and call it a day.
I, Pencil is an article written in 1958 by Leonard E. Read. The burden of the article is how diffuse are the inputs to make a simple item like a pencil. Of course a particular company - Eberhard Faber, in the example instance - made the pencil. But Mr. Eberhard and Mr. Faber did not simply speak the pencil into existence; the company has to have buildings housing machinery, and workers to operate the machines. But beyond that, the Eberhard Faber workers have to have food, shelter, and normal amenities - including those required by their families.And the same is true of the vendors who supply Eberhard Faber with the machinery they require, and all the obvious materials - wood, graphite, rubber, and the ferrule material and the enamel. All those vendors have their own equipment, workers, and supply chain. And in all cases the workers need food, shelter, and normal amenities. So although the pencil certainly does not exist without Eberhard Faber, society works together to make pencils - and everything else.
So, “You didn't build that? Somebody else made that happen?” Yes - but that “somebody else” was not government. The “somebody” was more like everybody - mostly very indirectly. It is not the government but society - as Thomas Paine points out in Common Sense, a very different thing - which makes the pencil.
Government planning is merely interference in society’s subtle workings by people who have nowhere near the competence needed to make such large decisions and be responsible for them. It is nothing more than the irresponsible separation of responsibility from authority, in violation of the first principle of good management. Improvement in efficiency via government “planning” is a paper tiger.
“a better investigation from the Times would be an ongoing one of the Democrats and Republicans in Washington who’ve long enhanced their own personal wealth through the mis-allocation of the wealth produced by others, including Fred and Donald Trump.”
The failing nyt is worth nothing. It is assuring its demise by hiring radical hate-filled racists like sarah jeong, and with hit piece articles designed to get trump.
I hope to see the nyt auctioned off in bankruptcy court.
this thread has great info on Trumps wealth
Assuming Trump received 15 million instead of 1 million ignores that the money might have been designated except for 1 million.
Nonetheless, let’s use the 15 million figure. Potus said at the outset of the last election that his holdings were all worth 10 billion. That means he grew his inheritance from 15 million to 10 billion. That’s a 667% increase.
If I inherited $1,000,000. from my parents, I’d have to grow it to 667,000,000 to match what Trump did.
No matter how you look at it, he did a great job.
And his Presidency adds a ! to that point...he really did build that....
The Bush’s, Clinton’s and Obama’s went to Washington D.C. and made their money.
Donald J. Trump made his money and went to Washington D.C.
Unlike the Bush’s, Clinton’s and Obama’s, Donald J. Trump will end up leaving Washington D.C. with much less money than when he arrived with.
The clintons and obamas stole and took bribes for their money.
Bump