Turns Out President Business Deals Couldn’t Manage a Lemonade Stand

Photo credit: Spencer Platt - Getty Images
Photo credit: Spencer Platt – Getty Images

From Esquire

No one should need to see Donald Trump’s tax returns to know he’s a Businessman in the way Clark Stanley was a Businessman. We have known for some time that Trump initially made his money through a multigenerational tax avoidance scheme that at some points veered into outright fraud. We have known that many of his businesses—six at least—have crashed into bankruptcy, including multiple casinos(!), and he avoided personal bankruptcy by taking his failing business public—the stock ticker was his initials—and leaving investors with the bill. Throughout much of the 1990s, he was not paying taxes because of nearly $1 billion in business losses he incurred during that time, which canceled out any income earned. When he did get some real income again, it was primarily by playing the part of a Businessman on television—complete with a stage-set Boardroom that NBC

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