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He appoints as his commerce secretary one of leading s in America, Wilbur Ross, whose specialty is seizing a company that's run out of cash, recapita… - David Cay Johnston
" "He appoints as his commerce secretary one of leading s in America, Wilbur Ross, whose specialty is seizing a company that's run out of cash, recapitalizing it. You don't pay the bills you owe... (something that Donald Trump never heard of). You borrow new money (something Donald Trump certainly has heard of) then you squeeze the borrowed money out and put it in your own pocket, and you turn the zombie [company] loose until it dies.
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About David Cay Johnston
(born December 24, 1948) is an American investigative journalist and author specializing in economics and tax issues. He won the 2001 , and from 2009 to 2016 he was a Distinguished Visiting Lecturer at Syracuse University, Martin J. Whitman School of Management and College of Law, teaching tax, property, and regulatory law of the ancient world. From 2011 to 2012 he was a columnist for , writing, and producing video commentaries on worldwide issues of tax, accounting, economics, public finance and business. In recent years he has also written for and , and is the board president of , Inc. (IRE).
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Birth Name:
David Cay Boyle Johnston
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DC Report
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Trump bought the Doral with $104.8 million he borrowed from ... infamous for laundering money for Russian oligarchs. ...When Trump took office, the Doral was under a foreclosure order. Trump, as he often does, refused to pay contractors in full. ...Most contractors just walk away when Trump refuses to pay... because Trump will spend far more to litigate than the amount in dispute to discourage contractors and small business owners he cheats from suing for what they are due.
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[W]hat were we promised in 1980 when Ronald Reagan asked his famous question, "Are you better off now than you were 4 years ago?" ...I'm here asking the question, "Are you better off than you were in 1980?" He said we'll have less taxes. ...Taxes [and government spending] as a share of the economy are the same as they were back then. ...[W]hat we've gotten instead is all this government debt.
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