Filed under: Bureaucracy, Capitalism, Economics, Economy, Education, Free Markets, Freedom, Media Bias, Politics, Taxes, Unemployment | Tags: Hillary's Economics, Pence vs. Kaine, Trump's Taxes
The Vice-Presidential Debate was last night. It doesn’t matter much in the larger scheme of things, but it’s nice to get a look at them both. I was impressed with Governor Pence and his calm ability to stay on message. The task for each candidate was to defend their principals.
Tim Kaine played the attack dog role. He tried hard to echo Hillary’s most dramatic accusations, and to make a big deal out of the New York Times revelation that Trump, years ago, lost nearly a billion dollars on his investments in Atlantic City Casinos, as Hillary had.
Unfortunately, the issue demonstrates one of two realities. Either Hillary is massively ignorant about business, for she keeps trying to claim that anyone who lost a billion dollars in business is unfit for the office of the Presidency.
Well, surprise. It’s not uncommon at all. Try companies like Amazon, GE, Chevron, Exxon-Mobil. That’s why there is a provision in the tax code to allow companies who have suffered a major loss to recoup, and put things back on a sound basis to become profitable again. Such tax deductions play out over several years, and Donald Trump was not required to pay taxes to demonstrate his empathy, he was required to pay, and did, exactly what the law prescribed.
After claiming that when Trump paid no taxes, he wasn’t supporting the military and was taking food from the mouth of babies, Hillary went on to claim that any businessman who lost a billion dollars shouldn’t be allowed anywhere near the nuclear codes.
So tell that to GE, Chevron, Amazon and Exxon-Mobil and dozens of other companies. Hillary tried to make a big deal of the fact that he lost money on — an Atlantic City casino. If she does know that Atlantic City was a disaster for all the casinos, then the other alternative is that she is demonstrating her massive contempt for her voters. The common people will fall for anything.
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