Trump 1991: Reagan's Tax Reform A 'Catastrophe,' U.S. Is Like The Soviet Union

Dailywire ^ | 4/11/16 | Hank Berrien

[rdcbn]

Ronald Reagan's 1986 Tax Reform was a catastrophe for tax engineered real estate projects engineered to lose money in order generate an even larger tax write off in the insane and destructive tax laws of the 1980s

Most 1980s real estate deals of the time were structured to lose money in order to generate massive tax write offs to investors to shelter income from punishingly high marginal tax rates

[trebb]

Holy crap Batman! The article reads like a Cruz butt-kissing, Trump hating, jumble.

I wonder where the rest of the transcript is and how it modifies any context - but you really couldn't care less.

Over 60% in NY - Go Trump!

Go Away Cruz! Stop working for Hillary.

[GLDNGUN]

FAIL. Ted Cruz is EXACTLY the same punk now as he was in college. He is a power-hungry sleazy creep who will say or do anything for a vote. If he has to side with communists, anarchists and BLM he will. If he has condemn an innocent man he will. If he has to lie about his record he will. If he has to lie about another person’s record he will. If he has to cheat, deceive, trick or treat his way into office he will. He will abandon anyone or any principle the second he thinks it will benefit him in some way.

[RaceBannon]

then since trump is the same sleazy wife cheater, you have no problem with Ted then, right?

because if they both are the same, and you declare it to be so, and trump never said anything about changing his life, they are the same, so, for you to hate Ted makes you a hypocrite...

right?

Biblical level of delusion.

[GLDNGUN]

You keep referring to the Bible, so you must loathe imperfect men like David and Solomon. David was a murderer and an adulterer, while Solomon had more than 2000 wives. Since sexual morality seems to be the most important thing to you above all else, you must regard Trump as a minor-leaguer comparitively.

[Mechanicos]

God has a habit of calling and using the unlikely: Noah was a drunk, Abraham was too old, Jacob was a liar, Leah was ugly, Joseph was abused, Moses had a stuttering problem, Gideon was afraid, Samson was a womanizer, Rahab was a prostitute, David was an adulterer and a murderer, Elijah was suicidal, Jonah ran from God, Naomi was a widow, Job went bankrupt, Peter denied, the Disciples fled, Martha worried, the Samaritan woman was divorced, Zacchesus was too small and Lazarus was dead!

[CutePuppy]

The ability to shelter income through tax losses in real estate limited partnerships was severely curtailed, and it hurt people like Trump whose equity required the cheap financing pipeline to stay open. I think this was the middle of one of Trump's many bankruptcies.

1986 tax reform signed by Reagan was a compromise (like most of these "sausage" bills are) that further built on the 1981 general tax reductions and simplification — one of which was about getting rid of counterproductive and revenue-costly "tax shelters" that were used in a lot of shady and outright phony real-estate deals which existed only for purposes of tax "losses," on top of which many of them were also partly or entirely financed by other local, state and federal tax incentives. **

And no, that had nothing to do with Trump's many bankruptcies which destroyed about $5B in wealth of Other People's Money, while some hundreds of millions of these dollars ended up in Donald's pockets (yet he still grossly underperformed the average annual gains in real-estate and equity markets over time, though he did build the "Trump brand"). And Trump is still using phony "charity" loopholes (like "conservation" on his golf courses) through his Foundation, while bragging how "charitable" he is... **

** Ref : The son-in-law also rises: For Jared Kushner, championing Trump marks break with Democratic past - Kushner Cos. CEO was an active donor to liberal politicians in NJ, NY - FR, posts #75, #81, 2016 April 07

Ref : Fresh document trove sheds light on Clinton-Trump ties - FR, post #56, 2016 April 12

** Ref : Who will buy New York's Plaza Hotel? Chinese or Arabs (What Donald Trump's Plaza Deal Reveals About His White House Bid) - FR / NYT / TSC / DR, posts #1, #2, #9, 2016 March 31

** Ref : Here's what Trump gets wrong - FR / CNBC, posts #2, #49, #54, 2016 March 16

Ref : Is the Media Protecting Donald Trump? - FR / FBN / TCP, posts #1, #96, 2016 March 09

** Ref : Reports question Trump's giving to veterans groups - FR / FN, posts #1, #115, #122, #124, 2016 January 29

** Ref : In Ego, Obama and Trump Are Two Of A Kind - FR, post #275, 2015 October 25

The [often irrelevant non-tangential single-factor] ridiculous comparisons of ideals, character and motives of Trump to Reagan — as a way to win or blunt the opposite argument — are so inapplicable, superficial and phony that they shouldn't belong on FR (though, unlike Trump and his supporters, I wouldn't advocate banning them) :

"Great minds talk about ideas. Average minds talk about events. Small minds talk about people. And the smallest of minds talk about themselves"

I think everyone can clearly see which part belongs to Ronald Reagan and which parts belong to Donald Trump.