Trump Tower Funded by Rich Chinese Who Invest Cash for Visas

Bloomberg | March 6, 2016 | Jesse Drucker

[reaganaut1]

No quote from Bloomberg allowed, story here.

[Parmy]

He quit building things over 10 years ago and went to minimal financing and name licensing. I guess the banks began to consider him a bad risk. Four bankruptcies will do that to you.

Anyone looked up the number of bankruptcies that Romney's Bain Capital presided over? How about Buffet? How many jobs did he destroy while becoming a billionaire?

[Velvet_Jones]

Nearly every country in the world has a provision like this. In some places, like Brazil for example, the only way to emigrate is to wither marry a Brazilian or invest $500k in a business there. It’s like that in nearly every country, if you make a big investment in a business they’ll allow you to become a resident.

Further-Trump only licensed his name for this particular project. He wasn’t involved in the financing. So claiming that Trump is a yuuuge fan of EB-5 visas based on this story is just nonsense.

[CA Conservative]

Further-Trump only licensed his name for this particular project.

Did you miss the part of the article where it mentions that the project is question is his son-in-law's, and it is attached to another one of Trump's properties? This is hardly just a case of him licensing his name...

[kabar]

Over the entire period of 2000 to 2012, real hourly wages (adjusted for inflation) grew on average just 0.65 percent annually for those with only a bachelor's degree and 0.71 percent for all STEM workers. Thus, in both cases average hourly wages grew less than 1 percent a year from 2000 to 2012. What growth there has been in hourly wages for STEM workers mostly occurred from 2000 to 2007. There has been almost no hourly wage growth since 2007. Hourly wage growth of less than 1 percent annually for over a decade is certainly not the pattern we would expect to see if workers were in short supply.

Annual Wages. Hourly wages have the advantage in comparison to annual earnings of controlling for hours worked. On the other hand, annual wages may be seen as providing a more complete picture of trends by reflecting what people are earning on a yearly basis. Figure 8 reports annual wages from 2000 to 2012 for full-time workers who worked for the entire year based on the ACS. Table A8 in the Appendix reports more detailed annual figures. Figure 8 and Table A8 show the same pattern as hourly wages from the CPS. Real annual wages for STEM workers with only bachelor's degrees grew on average just 0.32 percent per year from 2000 to 2012 and 0.42 percent for all STEM workers. In fact, all the growth was from 2000 to 2007. From 2007 to 2012, real annual wages actually declined slightly for STEM workers overall. Like the hourly data from the CPS, the lack of growth in annual earnings from the ACS strongly indicates that demand for STEM workers is not outstripping the supply of such workers, at least since 2000.

[SubMareener]

OK, I see your point on the supply side, but the real problem has been on the demand side. There has not been enough growth in STEM related business in the United States. The visa problem only deals with the diminishing pie, it doesn’t bake more of them.

[kabar]

A lot of the STEM jobs have been outsourced to other countries along with our manufacturing base.

[SubMareener]

Precisely! This is why we need Donald Trump as President.

[Albion Wilde]

Trump to McCain - "Pass the strawberries"

What does this mean?

[moehoward]

“Throw out bombs of half-truths and out of context charges, force candidate off message to defend, rinse, repeat.

I am so over this.”

Leftist tactics abound from one particular candidates camp.

[Albion Wilde]

He quit building things over 10 years ago and went to minimal financing and name licensing. I guess the banks began to consider him a bad risk. Four bankruptcies will do that to you.

So, how do you account for the two golf resorts in UK, Turnberry and Doonbeg, and the Old Post Office Building in DC being built during the last decade? The one in DC required a fine-tooth-comb examination of finances by the U.S. Government Accounting Office before they would sell the property to Trump.

[gov_bean_ counter]

The one in DC required a fine-tooth-comb examination of finances by the U.S. Government Accounting Office before they would sell the property to Trump.

Trump has bragged about buying politicians.

[jmaroneps37]

Yes and we all know Trump issues the visas the Chinese use: Why of course.

[jmaroneps37]

Yes and we all know Trump issues the visas the Chinese use: Why of course.

[Steven Tyler]

Did you hear the latest??
Donald went swimming in the ocean, and peed in the ocean!!
I know.

[Albion Wilde]

Trump has bragged about buying politicians.

Correction: Trump has criticized the system for allowing donors to infulence politicians.

Secondly, politicians don't run the GAO; bureaucrats do, subject to the whims of the politicians above them. That Trump was able to score this property under the Obama administration was an astounding oversight on a Democrat Administration's part, as even Trump has indicated.

[entropy12]

Are you anti-Chinese or anti-rich people?

Rich Chinese beat cheap H1-B visa workers Ted Cruz wants by a mile!

Cruz pushing Path to Legal Status for ALL Illegals

Cheap Foreign Workers on H1-B visa