Tag: Trump

Trump has lost more than $315 million on his golf courses over the last 20 years, bombshell report finds

Donald Trump wearing a hat: Getty

© Getty

  • President Donald Trump has lost $315.6 million since 2000 from the 15 golf courses he owns in the US, Scotland, and Ireland, The New York Times found in a bombshell report published Sunday. 
  • Trump bought his National Doral golf resort in Miami for $150 million in 2012 and, over the next six years, lost $162.3 million on the property, according to Trump’s tax documents obtained by The Times. 
  • The president’s three European golf courses have reported a total of $63.6 million in losses. 
  • The losses that Trump has experienced at his golf courses aren’t an anomaly — The Times investigation found the president has lost millions of dollars at nearly all of his major businesses. 
  • Visit Business Insider’s homepage for more stories.

President Donald Trump has lost $315.6 million since 2000 from the 15 golf courses he owns in the US, Scotland, and Ireland, The New York

Read More

Financial records appear to show Ivanka Trump got ‘consulting fees’ to reduce father’s tax bill

The New York Times has obtained tax return data for President Trump covering more than two decades, which shows that Trump paid only $750 in federal income taxes in 2016 and 2017 and paid no federal income taxes in 10 of the last 15 years, primarily because he reported losing more money than he made.

Trump has not made his tax filings public, and the information made its way to the Times via sources with legal access to it. The filings contain information Trump disclosed to the Internal Revenue Service, but do not reveal his net worth. Trump has said his tax returns aren’t as important as the annual financial disclosures he must submit as president, and comparing the two, the Times found that in 2018, Trump put in his disclosure he made at least $434.9 million, while the tax records show he incurred $47.4 million in losses.

During Trump’s

Read More

Whither the middle class? Biden, Trump have wildly different ideas about what “middle class” means

One of the main issues in this fall’s presidential election will be how best to revive the middle class, which made up 60% of households in 1971 (as measured by income) but only around half today. That already daunting challenge has become even greater due to the economic turmoil brought by the pandemic.

When Donald Trump ran in 2016, he made clear that his preferred route to increasing the size, prosperity and security of the middle class was essentially a “back-to-the-future” route. Trump’s catchphrase, “Make America Great Again,” means make the country like it was when he was growing up, during the twenty-five years after World War II.  At that time, the middle class was dominant at home, middle-class men were dominant seemingly everywhere, and the country was dominant abroad. 

Trump’s nostalgia for that period (he was born in 1946, the first year of the baby boom) does not, however,

Read More

Trump involvement in business deals is break from past

From the Oval Office, Trump has pushed to set the value of both the U.S. dollar and interest rates, determine the winner of federal contracts and overrule corporate decisions on factory locations. He has called for executives to be fired at businesses that displeased him and urged his 86 million Twitter followers to buy some products and shun others.

This populist activism has more in common with strong male leaders in countries such as Turkey, Russia or China than with Republican free market orthodoxy and could undermine the U.S. economy’s long-term appeal, according to economists, former government officials and historians.

“He’s more of a central planner than the communists,” said economist Douglas Holtz-Eakin, who served in President George W. Bush’s White House and advised Sen. John McCain’s 2008 presidential campaign.

The latest illustration of Trump’s highly personal style began Aug. 6, when he issued an executive order banning TikTok, the

Read More

Joe Biden’s plan would create 7 million more jobs than Trump: Moody’s

  • An economic forecast from Moody’s indicated that a Biden presidency would create 7 million more jobs compared to a second Trump term.
  • “The Moody’s analysis tells us the Biden plan would result in more jobs, a stronger economy, and higher incomes for the middle class,” economics expert Michael Linden said.
  • Household incomes would also rise nearly $5,000 under Biden, but stay unchanged if Trump is reelected to another term.
  • Visit Business Insider’s homepage for more stories.

Democratic presidential candidate Joe Biden’s economic agenda would lead to 7 million more jobs created compared to President Donald Trump’s, according to a new analysis from Moody’s Analytics, a research firm.

The study, conducted by Mark Zandi and Bernard Yaros, evaluated the economy’s trajectory under four different scenarios. But it found that a Democratic sweep where Biden is elected and Democrats recapture the Senate would lead to a significant increase in federal spending. They

Read More

Trump executive order prevents racial bias training at Collins Aerospace, BAE Systems

Under an executive order signed this week by President Donald Trump, defense contractors including Collins Aerospace and BAE Systems, both in Cedar Rapids, cannot provide diversity training based on conscious or unconscious bias, white privilege and other topics commonly taught in such programs.

The president’s order prohibits the federal government and its contractors from promoting “race or sex stereotyping or scapegoating” or teaching any “divisive concepts.”

That includes training that suggests a race or gender may have any privilege, status, moral or ethical values or character traits.

White privilege is the “set of social and economic advantages that white people have by virtue of their race in a culture characterized by racial inequality,” according to the Merriam-Webster dictionary.

Collins Aerospace asked employees to “ensure any planned trainings in these areas are postponed until further notice,” according to an email obtained by The Gazette. The email indicates plans for a “further

Read More

Trump ban of ‘un-American’ diversity training roils corporate America


President Donald Trump looked to chip away at rival Joe Biden’s support with African-American voters Friday, telling a crowd in Atlanta “Biden doesn’t know Black Americans like I do,” and insisting Democrats will take their vote for granted. (Sept. 25)

AP Domestic

President Trump’s decision this week to expand a ban on “divisive” and “un-American” anti-racism training to federal contractors is fueling fears the White House order will deal a crippling setback to corporate efforts to increase workplace equality and address race and gender disparities.

“The biggest challenge right now is the confusion, chaos and the uncertainty of not knowing what this means,” said M.E. Hart, an attorney and diversity, equity and inclusion expert who runs training sessions for businesses and federal agencies. “My concern is that it will stop these efforts for months and may have a chilling effect on the momentum in businesses and organizations.”

The announcement

Read More

Trump administration moves to limit student visa stays over fraud, national security concerns

The Trump administration has announced a rule limiting the open-ended stay for international students from countries, amid concerns about overstays, fraud and potential risks to national security.

The new rule, proposed by the Department of Homeland Security, would allow those coming into the U.S. onto an F or J nonimmigrant visa to be limited to a stay of four years. Currently students are allowed to remain in the country as long as they can show that their period of study is ongoing.


The rule submission says that, currently, “admitting a nonimmigrant for duration of status creates a challenge to the Department’s ability to efficiently monitor and oversee these nonimmigrants, because they may remain in the United States for indefinite periods of time without being required to have immigration officers periodically assess whether they are complying with

Read More

Trump unveils plan to expand loans for Black business owners, Juneteenth pledge

President Trump unveiled what he calls the “Black Economic Empowerment — Platinum Plan,” at a campaign event in Atlanta, Georgia on Friday, promising to secure more lending for Black-owned businesses if elected for a second term.

Why it matters: With national polls showing the president lagging behind Joe Biden with Black voters, Trump’s plan also includes a proposal to make Juneteenth — the commemoration of the end of slavery in the U.S. — a federal holiday.

By the numbers: The Trump campaign said in a release that federal investments could generate $500 billion in additional capital, generate 3 million new jobs for Black Americans and 500,000 new Black-owned businesses.

  • The other side: Biden has pledged to leverage $150 billion in new capital for Black-owned businesses and increase funding for historically Black colleges and universities. Sen. Kamala Harris along with fellow Senate Democrats introduced legislation earlier this year to make Juneteenth
Read More

Trump Woos Black Voters With ‘Platinum Plan’ For Loans, Juneteenth Pledge : NPR

Ja’Ron Smith, a top Trump adviser, says Republicans are focused on economic empowerment issues for the Black community.

Drew Angerer/Getty Images

hide caption

toggle caption

Drew Angerer/Getty Images

Ja’Ron Smith, a top Trump adviser, says Republicans are focused on economic empowerment issues for the Black community.

Drew Angerer/Getty Images

President Trump is leaning into his economic record as he attempts to attract Black voters with a plan to try to secure more lending for African-American business owners.

Trump will be unveiling what he calls the “platinum plan” for Black economic empowerment at a campaign event in Atlanta on Friday.

Ja’Ron Smith — a White House adviser who spoke to NPR in his personal capacity ahead of the event — said the goal is to have the federal government invest in institutions that lend to Black businesses. The campaign believes that a sizable federal investment of about $50 billion could ultimately

Read More