Last updated on July 17th, 2023 at 07:04 pm
The media is digging into Trump’s business practices, and what they have uncovered is a Republican nominee who has built his life on fraud.
The New York Times exposed Trump as a fraud:
On the presidential campaign trail, Mr. Trump, the presumptive Republican nominee, often boasts of his success in Atlantic City, of how he outwitted the Wall Street firms that financed his casinos and rode the value of his name to riches. A central argument of his candidacy is that he would bring the same business prowess to the Oval Office, doing for America what he did for his companies.
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But a close examination of regulatory reviews, court records and security filings by The New York Times leaves little doubt that Mr. Trump’s casino business was a protracted failure. Though he now says his casinos were overtaken by the same tidal wave that eventually slammed this seaside city’s gambling industry, in reality he was failing in Atlantic City long before Atlantic City itself was failing.
But even as his companies did poorly, Mr. Trump did well. He put up little of his own money, shifted personal debts to the casinos and collected millions of dollars in salary, bonuses and other payments. The burden of his failures fell on investors and others who had bet on his business acumen.
The central premise of Trump’s entire campaign is that he is a great businessman who will be a great president, but it turns out that Trump wasn’t a great businessman. Donald Trump’s wealth was built on inheritance, self-promotion, and fraud.
There are indicators all over his 2016 presidential campaign that Trump has imported the same fraudulent scheme to his presidential operation. Much like his casinos, Trump’s campaign is broke. Donald Trump expects other people to take all the risk and put in all of the money for his presidential campaign, and he is making money off of running for president.
Interestingly, Trump has had no response to The Times story. If Trump is not a great businessman, and he doesn’t have any policies, then what have Republicans nominated to be the next president? The GOP has been taken in by a con man who is only interested in using his platform as the Republican nominee for financial gain.
The only difference between Atlantic City and now is that Trump has shifted from conning people out of money to conning people out of their votes.
Jason is the managing editor. He is also a White House Press Pool and a Congressional correspondent for PoliticusUSA. Jason has a Bachelor’s Degree in Political Science. His graduate work focused on public policy, with a specialization in social reform movements.
Awards and Professional Memberships
Member of the Society of Professional Journalists and The American Political Science Association
