Reasons Donald Trump Should Not Be President

Politics/Social Issues - Politics - General

By: IzzyDuncan 30-Mar-2011

Trump Is All Bluster

While four of his major investments were billions of dollars behind in payments and looking at bankruptcy, Donald Trump told the press that he was looking for projects to buy. He announced it was fine time to buy!

Trump realizes that most people are confused by the stock market and have little practical experience in buying and selling stock. Trump makes big noise and blusters and people assume he's doing well. Donald Trump claims he's worth millions, but profits listed in 2011, his most recent reporting for business income, cited only "operating profits," a term used to describe profits before interest payments on his loans and before state and federal taxes. His records do not report any real profits. The way Trump interests are over leveraged, his wealth is all about bluster!!

The U.S. certainly doesn't need a president that is all bluster.

Donald Trump Has Few Economic Skills

You may think Trump is a wealthy man who has always been successful in business. Nothing can be further from the truth. Wealth can be created through paper interests, with little actual value.

Donald Trump's casino interests have filed for bankruptcy numerous times. Trump Entertainment Resorts filed for bankruptcy in 2009, and Trump sold the failing company to others but still retained nearly 30 percent of the company stock. (That amount was reduced to 5 percent after the final bankruptcy decision on the Taj Mahal properties.) The Trump Enterprises group cited $2.06 billion in assets and nearly $2 billion in debts at the bankruptcy hearings. This filing was the third time that these same casinos have filed for bankruptcy. The first time was in 2004, with Donald Trump as Chairman of the Board.

The Trump International Hotel and Towers in Chicago also failed to meet their loan demands in 2009. The company asked the funding group to discount their loan and also asked for an extension to pay the loan. Trump claims the U.S. shouldn't discount the dollar, but he practices the same policies in his own economic transactions. Do as I say, not as I do, Mr. Trump?

Trump uses stocks to leverage investment money. He also can talk investors into bringing money to his investments, while he himself provides little, if any, actual money to the venture. Business call this "highly leveraged," but for common just folks it's called borrowing way more than you can ever afford to pay. When the Trump Taj Mahal declared bankruptcy in 2006, an employee of the parent company was allowed to remove over $1.2 million in cash before the judgment was finalized. The bankruptcy papers claim the payment was for "services done on behalf of the resort." Could this be how Trump makes his profits? He over leverages businesses, removes cash equity and leaves investors with the company remains to be repaid? Just who was allowed to cash out a cool million from the struggling business? Trump has claimed numerous times that everything he's done in business has been legal under the law. Legal and ethical are two distinctions that may be blurred in business, but should be clear when working as a leader modeling fair practices for a nation.

The U.S. needs sound direction from a president who understands economic policy--not how to manipulate the market to look like things are going well. We also don't need someone who takes the money and runs. That's a trait for dictators who take the people's money before they retreat in disgrace to foreign countries granting the leader exile or asylum.

Donald Trump Is a Loose Cannon

Donald Trump has moved his interests from casinos to hotels to the Miss America contest. He fails to finish a project before abandoning the project, as he did when he resigned from the board of directors of his own company, taking his daughter along in the exit. He's moved from investments to television shows, an unlikely path for a qualified president.

The country needs a leader with the ability to focus on the issues facing the country, not someone who is attracted by any flashy media event that comes by his office.

Trump's Not Diplomatic

Shouting, "You're fired!" at someone hardly qualifies as diplomatic skills. He's fought with his business partners in every investment project since his first penny stock failing that took a casino project in his name into bankruptcy. Trump lacks the diplomatic skills to lead his own corporation, let alone a nation.

Trump Has Little Compassion

Trump's first casino venture was operated from penny stocks that took money from thousands of small-time investors. The casino quickly went bankrupt as Trump blamed everyone, but his own lack of financial skills. Trump lost personal income in the first bankruptcy, but since that time he's been careful to separate his own investments from investor money. Trump has taken money and services from his failing companies and skated free from personal debt. He flies on company jets, uses company hotels, eats company food and travels in company cars for ground transportation. Trump told the news media that investors in his failed enterprises shouldn't have spent the money, if they couldn't afford to loose it. All the time, Trump lived high on the hog using company funds before the enterprise failed. This "Let Them Eat Cake" attitude might sell TV advertising, but it certainly isn't what America looks for in presidential qualities.

Final Thoughts

Trump also fails to pay state and federal income taxes. He has repeatedly gone on record to deny owing any taxes for his business enterprises. Hit books for the Taj Mahal bankruptcy show profits and earnings to the penny, so that no income shows as made for 2005 and 2006. Tax entities in New Jersey and the federal government maintain that Trump owes back taxes and have filed lawsuits to recoup the money. Trump's compassion and patriotism for the U.S. runs only as deep as his pocketbook.

Why does Trump think he is exempt from paying taxes? Who does he think should pay taxes that fund streets, sewers, education and other public services?

Supporting Links

Give this list a high five!

Comments

Post a Comment

goodselfme 8/4/2012
Flag This Comment

I like your list. I like Donald Trump better than the POTUS.
dashboardc33 2/3/2012
Flag This Comment

nice list!
litetender 12/17/2011
Flag This Comment

Nice list!
GeorgeSommers 5/8/2011
Flag This Comment

Great reasons - and you didn't even have to go into how he made a jackass of himself with the birth ceriticate issue. H5.
tracyann 4/14/2011
Flag This Comment

Interesting indeed.