Tag: donald trump
'Crypto Coins': Why Trump Never Stops Scamming His MAGA Flock

'Crypto Coins': Why Trump Never Stops Scamming His MAGA Flock

With the election upon us, many voters are focused on Donald Trump's unravelling mental state and his radical plans to kill off the democracy. But there should be space to recall his scams victimizing ordinary people and his joy in pulling them off. That speaks to character.

Trump's latest fishy deal involves a crypto operation. But let's start about three decades earlier, in 1995. Trump's Atlantic City casinos were going under, and he needed suckers to bail him out. He thus hawked shares of Trump Hotels & Casino Resorts.

Sophisticated investors regarded a company built on two casinos that had already gone bankrupt as an obvious loser. And so Trump turned to the chumps who bought into his rich-man, spinner-of-gold act. They put $140 million into the company and became a joke on Wall Street.

Trump was stuck with a third casino that was also failing. He persuaded Trump Hotels & Casinos Resort to take it off his hands at a grossly inflated price. By 2004, the bankers had enough and sent the company into a Chapter 11 bankruptcy. For every $10 that his marks invested at that initial public offering, they had $1 left.

Trump's explanation for the collapse in stock price should sound familiar to anyone now listening to his usual excuses: "People don't understand this company."

You heard echoes when he recently appeared before the Economic Club of Chicago. The moderator, citing The Wall Street Journal, asked him about his growing pile of campaign promises that could add almost $8 trillion to the national debt. "What does The Wall Street Journal know?" Trump responded. "They've been wrong about everything."

The year Trump Hotels & Casino Resorts filed for bankruptcy, Trump incorporated Trump University. Students fell for Trump's promise to share his tricks for building a real estate empire. (They presumably were not current on Trump's recent casino fiasco.)

Trump University was "a massive scam," according to the conservative National Review. First off, it wasn't a university. Rather it was a bait-and-switch scheme whereby students were conned into paying a typical charge of $20,000 — "ALL PAYMENTS MUST BE RECEIVED IN FULL" — for basically nothing. They didn't even have their picture taken with Trump, as promised. Instead, they were posed next to a cardboard cutout of him.

Trump was sued up and down and finally agreed to pay a $25 million settlement.

Trump is now trying to draw believers into his sketchy cryptocurrency company, World Liberty Financial. The clear objective is to raise a pile of money through unregistered securities offerings. The tokens are supposed to be sold only to accredited U.S. investors. But as a financial writer for New York magazine reports, "I received an email pushing me to buy them, despite having no accreditation whatsoever."

New cryptocurrency ventures put out what's called a "white paper" detailing their project. Trump calls his a "gold paper." Its cover features a portrait of a stern Donald surrounded by a blotch of what looks like melting gold.

In clear language, it piously notes that Trump, his family and Trump Organization employees may not serve as "an officer, director, founder or employee of, or manager, owner or operator of Word (they didn't bother to check for typos) Liberty Financial."

Under that is a complexly worded paragraph explaining that 75 percent of the crypto coin revenue goes to the Trump family. Trump's son Barron, who just entered NYU as a freshman, has been named one of its "Web3 Ambassadors."

If Trump has so much money, why does he run these grifts? There's a simple answer: It's a game. In his moral universe, a successful scam targeting the little people who buy your story is just good fun.

Reprinted with permission from Creators.

Staging Fake McDonald's Photo Op, Trump Slanders Harris (Again)

Staging Fake McDonald's Photo Op, Trump Slanders Harris (Again)

Donald Trump pretended to be working at a McDonald’s location closed to the public and stocked with his supporters on Sunday. The staged event at the restaurant in Feasterville, Pennsylvania, was part of the long-time conspiracy theorist’s promotion of another evidence-free attack on Vice President Kamala Harris.

The public could not access the restaurant during Trump’s visit and the people who Trump handed food orders to were his supporters who were pre-screened by the Secret Service and put in place before Trump arrived. The supporters were not allowed to make food orders as they would during the normal course of business, but were instead handed packages that Trump gave to them.

A Reddit forum member posted a photo of a letter purportedly written by the owners of the McDonald’s franchise, DG Torresdale LLC, that was posted on the front door. It read, “We plan to be closed on Sunday, October 20 until 4 p.m., to accommodate a visit at the request of former President Trump and his campaign.”

The Republican National Committee rushed to cash-in on the moment, and is now selling T-shirts with Trump dressed up in his McDonald’s apron with the phrase “MAGADonald’s.”

The staged event was meant to further Trump’s conspiracy theory that Harris didn’t work at McDonald’s in her youth. She has often discussed her time working at the restaurant as her motivation for backing policies that help working families.

The McDonald’s conspiracy is the latest in a succession of false stories that Trump has promoted during his time as a public figure. He was the most prominent backer of the racist birther conspiracy against former President Barack Obama and he has falsely claimed that climate change science was a “hoax” created by the Chinese government.

Trump’s allies at the conservative Fox News Channel furthered the conspiracy on Monday during a report on the staged event on “Fox & Friends.”

“There’s just no record of her being there or not being there,” reporter Peter Doocy said. “To our knowledge, there’s no photo of her in the McDonald’s apron, which now there is a photo of Donald Trump in the McDonald’s apron.”

While he stood at the drive-through window, Trump was asked by reporters if he supported raising the federal minimum wage, a policy that would significantly improve the lives of thousands of people who actually work at McDonald’s. Trump ducked the question, and instead said, “I think these people work hard, they’re great.”

Trump has historically opposed minimum wage increases and during his 2020 debate with President Joe Biden said, “How are you helping your small businesses when you’re forcing wages? What’s going to happen, and what’s been proven to happen, is when you do that, these small businesses fire many of their employees.”

Before he launched his own wide array of failed businesses, Trump was born into a wealthy family and given his start with millions in loans backed by his father.

Unlike Trump, Harris comes from a middle-class background and has backed economic policies meant to benefit employees in the service industry. She supports a minimum wage increase and eliminating taxes on tipped income.

While Trump also supports eliminating taxes on tipped income, he also supports large tax cuts for the ultra-wealthy and increased tariffs that would increase taxes for the workers who were a part of his campaign photo op.

Reprinted with permission from Daily Kos.

Nonpartisan Study Shows Trump Would Bankrupt Social Security By 2031

Nonpartisan Study Shows Trump Would Bankrupt Social Security By 2031

Fox News host and Donald Trump adviser Sean Hannity claims that Vice President Kamala Harris is lying when she says Trump’s proposals would threaten the solvency of Social Security. But according to a new study, Trump’s tax plans would drain the Social Security Trust Fund in just six years, triggering devastating cuts to the payments seniors depend on if no further changes are made.

Trump’s “campaign proposals would dramatically worsen Social Security’s finances,” according to the analysis of the nonpartisan Committee for a Responsible Federal Budget (CRFB):

President Trump’s proposals to eliminate taxation of Social Security benefits, end taxes on tips and overtime, impose tariffs, and expand deportations would all widen Social Security’s cash deficits. Under our central estimate, we find that President Trump’s agenda would:

  • Increase Social Security’s ten-year cash shortfall by $2.3 trillion through FY 2035.
  • Advance insolvency by three years, from FY 2034 to FY 2031 – hastening the next President’s insolvency timeline by one-third.
  • Lead to a 33 percent across-the-board benefit cut in 2035, up from the 23 percent CBO projects under current law.
  • Increase Social Security’s annual shortfall by roughly 50 percent in FY 2035, from 3.6 to 4 percent of payroll.
  • Require the equivalent of reducing current law benefits by about one-third or increasing revenue by about one-half to restore 75-year solvency.

Trump adviser and Project 2025 contributor Stephen Moore has argued such changes are good policy because “we want people to keep working. We want to keep incentivizing people once they turn 65, or 66, or 70.”

Democrats, meanwhile, typically favor extending the solvency of Social Security by increasing taxes on wealthy Americans rather than cutting benefits for vulnerable seniors.

Fox News and its right-wing counterparts rarely discuss Social Security because they want Republicans to win elections and they recognize that the right’s proposals are generally politically toxic. When Trump suggested in a March interview that he would consider cutting Social Security benefits — a mainstay of right-wing punditry -- Fox ignored the remarks.

But when Trump’s propagandists talk about one of the most successful federal programs in history, which sustains tens of millions of American seniors, they stress that he and his party are committed to defending it, claiming suggestions otherwise are lies.

“At multiple rallies today in North Carolina, Harris also continued her long-running lie that Donald Trump wants to cut your Social Security,” Hannity complained last month. “But the official Republican Party platform and Donald Trump in his own words over and over again say just the opposite. As you can see on your screen, a complete and total lie from Kamala Harris.”

Hannity may be willing to take Trump at his word, but CRFB’s analysis shows Harris is correct that the former president’s plans would devastate Social Security.

Reprinted with permission from Media Matters.

Trump Won't Condemn Gunman Who Allegedly Threatened FEMA Workers

Trump Won't Condemn Gunman Who Allegedly Threatened FEMA Workers

Donald Trump came under fire Monday after not condemning an armed gunman who was arrested for allegedly threatening FEMA workers trying to help North Carolina victims of Hurricane Helene. Trump also continued to spread lies about FEMA and the federal government’s response to that devastating and deadly event.

A reporter told Trump about the man who had been arrested, and that his threats had caused FEMA to “stand down” for safety reasons, which inhibited their ability to help victims. He asked the ex-president if it was “helping” the recovery efforts “to keep making these claims that FEMA is not doing their job?”

Trump defended his lies and false attacks on the agency, and immediately replied, “I think you have to let people know how they’re doing.”

The ex-president, CNN reported earlier this month, “has delivered a barrage of lies and distortions about the federal response to Hurricane Helene.” The network noted he “has been one of the country’s leading deceivers on the subject. Over a span of six days, in public comments and social media posts, Trump has used his powerful megaphone to endorse or invent false or unsubstantiated claims.”

“If they were doing a great job, I think we should say that too,” Trump also told reporters Monday, “because I think they should be rewarded, but if they’re not doing, does that mean that if they’re doing a poor job, we’re supposed to not say it? These people are entitled to say it. And these are honest people behind us. If we were doing well, they would be saying they did a good job.”

There has been strong bipartisan praise of the Biden-Harris administration’s response to Helene. Democratic and Republican governors impacted by Helene have complimented FEMA as well.

“Some of the claims swirling around federal responders have been amplified by former president Donald Trump as he seeks to return to the White House,” The Washington Postreported earlier this month. “Trump has alleged, without evidence, that the federal government was ‘going out of their way to not help people in Republican areas’ and repeatedly claimed that FEMA was diverting disaster relief money for migrants.”

The arrested man charged with threatening FEMA workers, William Jacob Parsons, was found by law enforcement officers “armed with a handgun and a rifle.” He had “posted a message on Facebook calling for people to ‘overtake’ the FEMA site in Lake Lure based on what he says were social media reports that FEMA was withholding supplies from hurricane survivors,” WGHP had reported.

“Upon arriving at Lake Lure, however, Parsons said he realized the situation was different than he had imagined,” WGHP also reported.

“I went up and saw that there was absolutely nothing there, so I stayed, and I volunteered all day,” said Parsons, who “insists he was simply exercising his Second Amendment rights.”'

In Tennessee, FEMA workers were also threatened, as this local news report shows:

Meanwhile, on Monday Trump had also falsely claimed, “you’ve obviously seen nothing but, uh, you know, very bad statements coming out about the job that FEMA and this administration has done having to do with this area North Carolina as a whole and by the way, other states also, they’re also complaining.”

And he falsely said, “look, a lot of the [FEMA] money is gone, they don’t have any money, they have to have they have to have a meeting in Washington, a special meeting in Washington to get money. It’s all gone. They’ve spent it on illegal migrants.”

“Many of them are murderers, many of them are drug dealers, many of them come out of mental institutions and insane asylums, and many of them are terrorists,” Trump falsely charged, “and they spent money to bring these people into our country and they don’t have money to take care of the people from North Carolina and other states.”

The Associated Press reported that Trump was “repeating the falsehood that the response was hampered because FEMA spent its budget helping people who crossed the border illegally, a claim that was debunked weeks ago by U.S. Rep. Chuck Edwards, R-N.C., who stood behind Trump as he spoke.”

Trump also went on to claim that “our FEMA,” meaning when he was president, did a “really incredible job,” but that same agency under the Biden-Harris administration did not.

Progressive news site Tennessee Hollernoted: “Trump expresses zero remorse about FEMA workers being threatened by armed gunmen (including in Carter County, TN) — and immediately continues to lie about the response efforts.”

“Trump has endangered and destroyed countless lives with COVID, the climate, and the January 6 insurrection. Now he threatens American citizens again, encouraging violence against FEMA workers who bring aid during a crisis. The only ‘enemy from within’ is Donald Trump,” The Lincoln Project wrote, referring to Trump’s repeated attacks on Democrats, including one on Sunday.

Watch the videos below or at this link.

Reprinted with permission from Alternet.

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