Trump’s Taj Mahal Casino, once his crowning achievement, now burns through millions each month. He’s already lost even the minority share that he hung onto coming out of bankruptcy back in February. Despite the thousands of workers whose livelihoods hang in the balance, Trump sucked millions of dollars out of the casino to line his own pockets. To pay for that, workers had to be cut and wages had to be slashed. But when the casino finally had nothing left to give, it was the workers that these shameless billionaires blamed. CEO Tony Rodio said back in August:
Currently the Taj is losing multi-millions a month, and now with this strike, we see no path to profitability. Our directors cannot just allow the Taj to continue burning through tens of millions of dollars when the union has single-handedly blocked any path to profitability. Unfortunately we’ve reached the point where we will have to close the Taj.
This is a familiar story for Donald Trump’s business ventures. Nearly every one of them. He cannibalizes the profits and then puts thousands of Americans out of work. His presidency is likely to be a similar story on a much wider scale. He’ll do a lot of favors for himself and a few of his friends while the country buries itself in debt — $9.5 trillion by some estimates. His sons are already shying away from the idea that he’ll sever all business relationships while in office, which is standard practice among presidents to prevent a conflict of interest.
Despite his claim that he’ll put 25 million people to work, analysts estimate that his economic plans will actually strip the economy of 3.5 million jobs. His tax plan will make it a lot easier for the rich to profit off failing business while they drive them into the ground and pay almost nothing in taxes. This is likely why his family doesn’t like the idea of him pulling out of businesses during his presidency. They want to take advantage of all of the money that will come pouring out of American businesses as they take a nose dive.
Trump’s rhetoric about eliminating regulations also seems to be quite telling. Just this week he claimed that 70% of regulations would be retired if he became president. But most regulations in the financial sector are designed to prevent exactly what Trump and his friends do to their businesses. Regulations force businesses to make bets that they can back up and prevent them from just pumping funds into their private accounts and then dropping out. And yet the same people who would be hit hardest by these vultures are cheering him on at rallies as he describes his plan to strip them of all their protections.
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