Big news broke last night when the New York Times revealed that over a ten year period, from ’85 to ’95, Donald Trump lost a total of $1.17 billion. He likely lost more money over that period than any other individual American citizen.
“In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer…His core business losses in 1990 &1991-more than $250 million…were more than double those of the nearest taxpayers…”
The bombshell report raised many more questions than it answered, such as: what are the sources of his income, how could he suffer so many losses and still get credit or even stay afloat, and how much is he actually worth? Here’s a link to the story:
Aside from the fact that Donald Trump is clearly a terrible businessman (who, you recall, drove a casino into bankruptcy), the report also makes better sense of Trump’s desperate attempts to hide his taxes. He’s terrified of the details his taxes will reveal or confirm, details that would likely smash the myth of his public image. It’s been noted here many times that Trump is merely a playboy real estate heir who fraudulently inherited over $400 million dollars and spent much of it pretending to be a tycoon. Anyone with a lot of money can buy shiny things–spending money doesn’t make them brilliant. But now investigators are on the trail of proving that Trump’s “empire” is made of sand.
On a different legal front, the number of career DOJ prosecutors who signed a letter stating that Trump obstructed justice ballooned yesterday from 450 to 700, most of whom are rank-and-file prosecutors who leave their politics at the door when they go into a court house. Yet they were so concerned by the Mueller report that they decided to lend their names to a public statement of his possible guilt. And this statement lends fuel to the impeachment fire. Elizabeth Warren yesterday became the first Democratic Senator to publicly call for impeachment hearings, stating from the Senate floor that Trump had obstructed justice.
Warren’s speech from the Senate floor caused the usual battle to erupt on cable news between the “impeach him” crowd and the “it will backfire in 2020” crowd. But the backfire position seemed to be losing traction. The main backfire argument is that impeachment hearings will help Trump “solidify his base.” But Trump’s base is already solidified. He’s the most polarizing public figure in generations. I don’t know a soul whose opinion isn’t already set in stone on Trump. Perhaps the real issue isn’t Trump’s base, but what action will motivate Democratic voters to turn out in 2020? Given the remarkable range of scandals and crimes in the Trump regime, it’s possible that impeachment hearings will shine a brighter spotlight on his misdeeds and keep them in full view going into the election. Perhaps it will solidify the resistance against him. Like it or not, anger at criminals and fear of tyranny are both great motivators.
More will surely be revealed about Trump’s shady business history. Meanwhile, let’s keep resisting and working to “vote his ass out of office.”