Trumps Taxes? Whitewater without the bank fraud.

Trumps Taxes? Whitewater without the bank fraud.

 

 

Of course, in the media, this “issue” is taken to the tenth level of stupid.

 

In the 70’s, Congress issued a series of tax deductions to spur investment. Tax rates were so high that only an idiot would risk money investing.  Trump did what every investor did then. He invested in tax shelters.

 

This is what Whitewater was. A shelter. But with Hillary it was different. She took paper losses, then convinced her banker buddy Jim McDougal to allow her to put the debt that she and her husband had personally guaranteed in a shell corporation and allow the corporation to file bankruptcy. The bank eventually went under and taxpayers paid for Hillary’s losses.

 

This was the heart of the S&L crisis, buried politically by Bush.

 

There’s no evidence Trump broke any of the laws Hillary broke, but Hillary is special. She can invent her own laws.

 

For the record, tax shelters were THE investment choice in the 70’s and early 80’s. Ronald Reagan eventually eliminated them, but it took a decade for the damage to be undone.

 

In the mean time, the media has learned that there’s no money in intelligent, honest journalism. Stupid sells. 

 

 

 

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