News Is Donald Trump Really Considering a Presidential Run in 2012?

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The discussion centers around the potential candidacy of Donald Trump for the presidency, with participants debating his viability as a candidate and the implications of his business background. Some argue that Trump's lack of political experience could hinder his chances, while others believe his outsider status and business acumen might appeal to voters dissatisfied with traditional politicians. Concerns are raised about Trump's history of bankruptcies and whether this would negatively impact his reputation as a businessman. The conversation also touches on the current political landscape, with predictions that the incumbent president may struggle for reelection if economic conditions do not improve. Participants express skepticism about Trump's ability to create jobs and question the effectiveness of his business strategies, while also discussing the broader implications of corporate influence in politics. Overall, the thread reflects a mix of skepticism and cautious optimism regarding Trump's potential run for office.
  • #51


mheslep said:
Well its the net balance sheet over a few years that counts. The debt on your house and mine likely far exceeds our annual incomes and yet we avoid bankruptcy as well, even if the home values are underwater.
Yes, but I haven't been forced to eliminate most of my debt due to inability to repay, have you? Sounds like he had a bankrupcy without the bankrupcy: When the risk is in the hundreds of millions, a bank may be willing to eliminate/restructure some without a bankrupcy due to the risk of losing it all in a bankrupcy.
 
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  • #52


russ_watters said:
Yes, but I haven't been forced to eliminate most of my debt due to inability to repay, have you?
Not yet, but maybe I haven't tried hard enough. ;-)

Sounds like he had a bankrupcy without the bankrupcy: When the risk is in the hundreds of millions, a bank may be willing to eliminate/restructure some without a bankrupcy due to the risk of losing it all in a bankrupcy.
Sure, there's the old bankers line: loaning a $100k is is just a loan; loaning a $100M is is a partnership. I'm not crying for the bankers, unless Trump defrauded them. The bankers go into these deals because in the long run they know they're getting paid 4-6% above their own cost of money for years on large debt loads. Occasionally a chunk defaults on them, but overall they make out. And along the way strips of New York and Atlantic City become show places again after years of neglect because of guys like Trump, bankruptcies and all.
 
  • #53


mheslep said:
That's not the citation that I said was missing. I guess I wasn't being clear enough.

As of Jan 1, all of the Bush tax cuts will expire and taxes will increase on all income brackets that enjoyed cuts from '01 and '03.
In no way does this make a lie of Obama's pledge.

For that to happen, you need to show that expiration of tax cuts for the <$250,000 income group was a part of Obama's plan.
 
  • #54


Gokul43201 said:
For that to happen, you need to show that expiration of tax cuts for the <$250,000 income group was a part of Obama's plan.

Clarification: Are you saying that President Obama intends to extend the tax cut, but Congress won't play ball? Or something else?
 
  • #55


Come on, man, Trump's a joke. He's best known to the average American for having a bad fake-looking hairstyle and running a reality television show. He's best known in the business community for defaulting on his debt. He's best known in New York for somehow managing to slip through development projects that are forbidden to other developers because they transfer value from someone else's property to his by building above previous limits and blocking penthouse views, and he only got rich in the first place because of money and property he inherited from his father.

He's like the archetype of everything a common person hates about the corporate elite, with none of the Horatio Alger mythic self-made quality that makes us occasionally love the rich. He lives in a palace of marble and precious metals, for Christ's sake. His only political experience is somehow getting city planning commissions to repeatedly violate their own general plans so he can make money.

He'd be a complete disaster of a candidate.

So what if he's "created jobs?" That's becoming a stupid catch phrase. Give me an inherited fortune and the ability to borrow unlimited amounts of cash without having to pay it back and I'll create just as many jobs as he has. How exactly is that supposed to translate to being president? Is he going to sell bonds to the Chinese, build casinos in DC, and then default on the bonds?
 
  • #56


loseyourname said:
Give me an inherited fortune and the ability to borrow unlimited amounts of cash without having to pay it back and I'll create just as many jobs as he has.

How about we do one better than that and just give you the Presidency? Oh wait...
 
  • #57


loseyourname said:
Come on, man, Trump's a joke. He's best known to the average American for having a bad fake-looking hairstyle and running a reality television show.
I'm starting to think the characature of himself he plays on his reality TV show has improved his image. I'm really shocked that people are showing support for him here, seemingly unaware of his past reputation/public persona, before the TV show. Heck, I'd go so far as to say he's literally a joke: I'd bet he got the reality TV show for being the living characature of the rich corporate elite and he often stars in TV commercials making fun of himself for his characature. His "your fired!" slogan is playing on that characature.
 
  • #58


loseyourname said:
[...] So what if he's "created jobs?" That's becoming a stupid catch phrase. Give me an inherited fortune and the ability to borrow unlimited amounts of cash without having to pay it back
He started with a few million (<10 IIRC), and earned the right to borrow large sums by building highly profitable projects.
and I'll create just as many jobs as he has.
No comment on your personal abilities, but that's unlikely. Most people taking a shot at the real estate business, even when well financed, fail. The real estate road is especially littered with bankers and lawyers who for years loaned to guys like Trump and thought similarly, that anyone can do what that guy with bad hair does; then they become a primary in deal and find out that, no, its not so easy.
 
  • #59


Gokul43201 said:
That's not the citation that I said was missing. I guess I wasn't being clear enough.

In no way does this make a lie of Obama's pledge.

For that to happen, you need to show that expiration of tax cuts for the <$250,000 income group was a part of Obama's plan.

CRGreathouse said:
Clarification: Are you saying that President Obama intends to extend the tax cut, but Congress won't play ball? Or something else?
Yes I don't track this either Gokul. Are saying there's an Obama plan that somehow differs from that clear statement in the 2008 NH speech?
 
  • #60


loseyourname said:
Come on, man, Trump's a joke. He's best known to the average American for having a bad fake-looking hairstyle and running a reality television show. He's best known in the business community for defaulting on his debt. He's best known in New York for somehow managing to slip through development projects that are forbidden to other developers because they transfer value from someone else's property to his by building above previous limits and blocking penthouse views, and he only got rich in the first place because of money and property he inherited from his father.

Trump did not inherit his father's fortune, he started from scratch.

He's like the archetype of everything a common person hates about the corporate elite, with none of the Horatio Alger mythic self-made quality that makes us occasionally love the rich. He lives in a palace of marble and precious metals, for Christ's sake. His only political experience is somehow getting city planning commissions to repeatedly violate their own general plans so he can make money.

Trump doesn't strike me as one of the elitist corporate elite types. For one, he is very pro-America. He doesn't seem like one of those corporate types who would sell America out in the name of profit. He also doesn't strike me as one of those elitist blue-blood types. Those kind are very private and like to stay out of the public eye. Trump is the total opposite, very much a showman and loving attention.

So what if he's "created jobs?" That's becoming a stupid catch phrase. Give me an inherited fortune and the ability to borrow unlimited amounts of cash without having to pay it back and I'll create just as many jobs as he has.

Trump doesn't have the ability to borrow unlimited amounts of cash without having to pay it back. No one does. You can borrow money as long as you pay it back and make the lenders money. You fail to do this, and the money dries up.

How exactly is that supposed to translate to being president? Is he going to sell bonds to the Chinese, build casinos in DC, and then default on the bonds?

If Trump wants to run for President, he will need to show he is knowledgeable on policy and the issues (which I don't think he really is right now), however at least he has the experience of having dealt with real stress, of having run a large organization, of having managed and completed large projects, etc...
 
  • #61


russ_watters said:
Heck, I'd go so far as to say he's literally a joke: I'd bet he got the reality TV show for being the living characature of the rich corporate elite

The TV show I think they originally thought would fail, but decided to try it anyway.

I would not call him a "literal joke" though, as he is a billionaire and one of the most successful real-estate developers in the world. No, his history isn't perfect and no his projects are not always successful, but as mentioned succeeding in real-estate development isn't easy.
 
  • #62


mheslep said:
Yes I don't track this either Gokul. Are saying there's an Obama plan that somehow differs from that clear statement in the 2008 NH speech?

Where has Obama proposed a tax increase on people making < 250K? How is he not keeping his pledge?

Unless something happened in the last few days that I haven't heard about, nothing that you've said about this makes any sense. In fact, to me it seems that you are being deceptive, so please clear this up.
 
  • #63


My mind boggles to think that this is causing communication difficulty. The promise was that "no family making less than $250,000 a year will see any form of tax increase", and there's a fairly large tax increase for families making between $30,000 and $250,000 coming in just three months. What's not to understand?
 
  • #64


russ_watters said:
Yes, but I haven't been forced to eliminate most of my debt due to inability to repay, have you? .

I wasnt a fan of trump, let alone him running for president until you posted this Russ, now it sounds like he has just the kind of experience we need in the Washington.
 
  • #65


Ivan Seeking said:
Where has Obama proposed a tax increase on people making < 250K? How is he not keeping his pledge?
His pledge was that no family making under $250k would see a tax increase under his plan and families under $250k will see a tax increase, so either his plan failed or he changed his mind. How is that difficult to follow?

I'm just guessing here, but it seems you and Gokul want to play a game with 'but it isn't his fault the tax cut is expiring...' Do you really think the voting public will go for that? The best he can hope for is that they will believe he was powerless to stop it and forgive him for making an unkeepable promise. I wonder if his 'Gitmo promise will work that way (and I'm still waiting for my nuclear waste report)...
 
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  • #66


Jasongreat said:
I wasnt a fan of trump, let alone him running for president until you posted this Russ, now it sounds like he has just the kind of experience we need in the Washington.
Egad, you want him to tell our debtors the US is at risk of defaulting on its debts? That would be a disaster!
 
  • #67


CAC1001 said:
I would not call him a "literal joke" though, as he is a billionaire and one of the most successful real-estate developers in the world. No, his history isn't perfect and no his projects are not always successful, but as mentioned succeeding in real-estate development isn't easy.
According to Donald Trump:
The Don said:
My brand alone is worth $5 billion.
http://www.huliq.com/3257/91937/donald-trumps-net-worth-goes-worlds-richest-ranking-goes-down

And google is full of testimonials from investors who trusted him because of who he is and lost money on his deals, so it looks to me like being the joke is a very profitable thing for him personally. The most important thing for a rich elite type (and what people hate about them most) is to profit from your own failures and it seems that he's been able to do that very well. His net worth rose even as his company went bankrupt.

That very issue (CEOs making huge paydays even as their companies were failing) was a big deal to people during the financial bailouts.

I'll certainly have to admit his reputation seems a lot more two sided than I realized. It looks like he's been able to play-up and profit from both sides of the same stereotype:

1. The characature of the evil rich corporate elite - a manifestation of everything that is wrong with corporate America...

and...

2. ...but he's rich so I should still trust him with my money.
 
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  • #68


russ_watters said:
According to Donald Trump:
The Don said:
My brand alone is worth $5 billion.

Not according to Interbrand. He doesn't make their top 100, so they implicitly value his brand at less than $3.11 billion.

http://www.interbrand.com/en/knowledge/best-global-brands/best-global-brands-2008/best-global-brands-2010.aspx
 
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  • #69
This just keep getting better. I just found out Trump even owns a pyramid scheme that markets scam weight-loss pills:

http://www.trumpnetwork.com/Products/QuikStik.aspx
 
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  • #70


russ_watters said:
That very issue (CEOs making huge paydays even as their companies were failing) was a big deal to people during the financial bailouts.

I only have a limited understanding of CEO pay, but I believe the way it works is that it is like with an actor/actress in Hollywood. If you star in a movie and really bring the $$$ and viewership, your pay for each movie goes up. Now if you star in a movie and then it flops, then yes, for that movie you got paid a lot, but you will probably get a dent in your paycheck for your next film, and if that does only so-so, the pay adjusts accordingly.

I think CEOs are the same. If you start off as a CEO of a small company, manage that company well, then when you move to larger company, your pay package increases, you manage that one well, your pay package increases further.

Get to a huge Fortune 500 and you are being paid a lot simply to manage the company. If you crash and burn, then yes, for that job you get a big paycheck, but when you go to manage another company, your reputation is dented, so don't expect to keep commanding the huge pay.

I'll certainly have to admit his reputation seems a lot more two sided than I realized. It looks like he's been able to play-up and profit from both sides of the same stereotype:

1. The characature of the evil rich corporate elite - a manifestation of everything that is wrong with corporate America...

I really do not see him this way. He doesn't strike me at all as a caricature of the evil rich corporate elite. Just as a very rich guy with an oversized personality who loves attention.

and...

2. ...but he's rich so I should still trust him with my money.

I don't think anyone trusts him with their money, they will do projects with his brand in the hopes it has the kind of pulling power he claims.
 
  • #71


CRGreathouse said:
Not according to Interbrand. He doesn't make their top 100, so they implicitly value his brand at less than $3.11 billion.

http://www.interbrand.com/en/knowledge/best-global-brands/best-global-brands-2008/best-global-brands-2010.aspx

Trump boasts he is worth around $5 or $6 billion, but I know Forbes Magazine estimates it more at $2 billion.
 
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  • #72
loseyourname said:
This just keep getting better. I just found out Trump even owns a pyramid scheme that markets scam weight-loss pills:

http://www.trumpnetwork.com/Products/QuikStik.aspx

Popular energy drinks that rely on loads of caffeine and sugar to give you a fake boost can leave you feeling empty and depleted. QuikStiks™ rely on botanicals and bionutrients—known to support energy levels and mood—to give you just what you need to get you going in the morning, pick you up in the afternoon, and help you relax in the evening. They're great tasting, fast acting, and so convenient to use. Just break open a QuikStik and mix with water.

How are these "scam weight loss pills" or am I missing something? Sounds like a decent-quality product.
 
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  • #73
CAC1001 said:
Popular energy drinks that rely on loads of caffeine and sugar to give you a fake boost can leave you feeling empty and depleted. QuikStiks™ rely on botanicals and bionutrients—known to support energy levels and mood—to give you just what you need to get you going in the morning, pick you up in the afternoon, and help you relax in the evening. They're great tasting, fast acting, and so convenient to use. Just break open a QuikStik and mix with water.

How are these "scam weight loss pills" or am I missing something? Sounds like a decent-quality product.

That's only one of many products they sell, but the scam isn't necessarily the products. For all I know, they work, but I find it a little strange there's no apparent means of actually purchasing them linked to that site. Instead, you're simply encouraged to get in contact with a marketing agent to find out how you too can build a gigantic residual income stream selling this stuff.
 
  • #74


CAC1001 said:
I don't think anyone trusts him with their money, they will do projects with his brand in the hopes it has the kind of pulling power he claims.

I'd agree with this. More than half of his current net worth is tied up in name licensing for development projects he isn't actually affiliated with. His brand is worth more than his actual ability to manage these days.

Plus, the only person I know he was ever a personal financial advisor for was Mike Tyson, arguably the most spectacular case of personal bankruptcy in American history.
 
  • #75


Ivan Seeking said:
Where has Obama proposed a tax increase on people making < 250K? How is he not keeping his pledge?

Unless something happened in the last few days that I haven't heard about, nothing that you've said about this makes any sense. In fact, to me it seems that you are being deceptive, so please clear this up.

As CRG and Russ say here and I've posted several times elsewhere:
CRGreathouse said:
I can speak for neither mheslep nor Gokul43201, but I think the point the latter was trying to make was that income tax will increase Jan 1 2011 for those making at least ~$34,000, depending on the exact cutoff for the tax brackets and filing status.

Of course, strictly speaking, this is not Obama but the current Congress.
CRGreathouse said:
My mind boggles to think that this is causing communication difficulty. The promise was that "no family making less than $250,000 a year will see any form of tax increase", and there's a fairly large tax increase for families making between $30,000 and $250,000 coming in just three months. What's not to understand?

russ_watters said:
His pledge was that no family making under $250k would see a tax increase under his plan and families under $250k will see a tax increase, so either his plan failed or he changed his mind. How is that difficult to follow?

I'm just guessing here, but it seems you and Gokul want to play a game with 'but it isn't his fault the tax cut is expiring...' Do you really think the voting public will go for that? ...

Clear enough?
 
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  • #76


Nobody needs to tell US debtors about the risk of default, nor is any President or Treasury Sec going to change what they already know by telling them any kind of story .
 
  • #77


loseyourname said:
I'd agree with this. More than half of his current net worth is tied up in name licensing for development projects he isn't actually affiliated with. His brand is worth more than his actual ability to manage these days.

Yup, that is his strategy these days.

Plus, the only person I know he was ever a personal financial advisor for was Mike Tyson, arguably the most spectacular case of personal bankruptcy in American history.

Keep in mind though that Tyson fell prey to some real predators, first Robin Givens, then Don King.
 
  • #78


russ_watters said:
His pledge was that no family making under $250k would see a tax increase under his plan and families under $250k will see a tax increase, so either his plan failed or he changed his mind. How is that difficult to follow?
It's not, and it's almost exactly the point I was making, with a further refinement: if you have no evidence that he changed his mind (the citation I have been asking for), the only option that remains is that his plan failed (or more accurately, is anticipated to fail).

1. There's a huge difference between being unable to implement a plan due to Congressional opposition (or whatever other reason), and actually contradicting a campaign pledge,

2. The take home political message, as always, will be about where the blame lies for this failure. Just as easy a political move as it may be to play a clip of the pledge, it might completely backfire, as the counter-punch - that the failure to keep taxes down on lower income brackets was directly due to Republican opposition - might do more damage than the punch.

EDIT: I have meanwhile found that Obama did, in fact, willfully contradict the pledge. The Health Care bill imposes a tax on indoor tanning parlors, and of course there's the penalty (starting 2014) for violating the insurance coverage mandate. The former is an indisputable violation of the pledge, but affects such a small group of people that it might be a hard sell, politically, to use that as the centerpiece of an "Obama broke his promise" campaign ad. The latter could be argued either way, but I think it will be more effective (in an ad attacking Obama's promises) than anything else.
 
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  • #79


russ_watters said:
His pledge was that no family making under $250k would see a tax increase under his plan and families under $250k will see a tax increase, so either his plan failed or he changed his mind. How is that difficult to follow?

I'm just guessing here, but it seems you and Gokul want to play a game with 'but it isn't his fault the tax cut is expiring...' Do you really think the voting public will go for that? The best he can hope for is that they will believe he was powerless to stop it and forgive him for making an unkeepable promise. I wonder if his 'Gitmo promise will work that way (and I'm still waiting for my nuclear waste report)...
Russ, are you referring to the Inheritance Tax cut Bush had in place?

https://www.physicsforums.com/showpost.php?p=2786366&postcount=61

If not, what are you referring to?
 
  • #80


Evo said:
If not, what are you referring to?
The big (primarily income) tax cuts of 2001 and 2003, both set to expire at the end of this year.
 
  • #81


russ_watters said:
I'm just guessing here, but it seems you and Gokul want to play a game with 'but it isn't his fault the tax cut is expiring...' Do you really think the voting public will go for that?
Since, in your opinion, I'm really only playing a game here, why do you expect an honest response to your question?

Russ, I'm getting weary of your personal jabs.
 
  • #82


CAC1001 said:
Trump boasts he is worth around $5 or $6 billion, but I know Forbes Magazine estimates it more at $2 billion.

I was talking about his brand, not his net worth.
 
  • #83


Gokul43201 said:
It's not, and it's almost exactly the point I was making, with a further refinement: if you have no evidence that he changed his mind (the citation I have been asking for), the only option that remains is that his plan failed (or more accurately, is anticipated to fail).

1. There's a huge difference between being unable to implement a plan due to Congressional opposition (or whatever other reason), and actually contradicting a campaign pledge,

Agreed -- I made the same point in post #27.

Gokul43201 said:
I have meanwhile found that Obama did, in fact, willfully contradict the pledge. The Health Care bill imposes a tax on indoor tanning parlors, and of course there's the penalty (starting 2014) for violating the insurance coverage mandate. The former is an indisputable violation of the pledge, but affects such a small group of people that it might be a hard sell, politically, to use that as the centerpiece of an "Obama broke his promise" campaign ad. The latter could be argued either way, but I think it will be more effective (in an ad attacking Obama's promises) than anything else.

There are also other minor examples -- an increased tax on tobacco, for example -- but I felt they were unimportant so I hadn't mentioned them.
 
  • #84


CAC1001 said:
I only have a limited understanding of CEO pay, but I believe the way it works is that it is like with an actor/actress in Hollywood. If you star in a movie and really bring the $$$ and viewership, your pay for each movie goes up. Now if you star in a movie and then it flops, then yes, for that movie you got paid a lot, but you will probably get a dent in your paycheck for your next film, and if that does only so-so, the pay adjusts accordingly.

I think CEOs are the same.
That's probably true, but Trump has mostly just been CEO of one company. He hasn't had to worry about impressing other boards to get hired. At the same time, he does need to get investors for his projects, but since they are real estate projects, a great many of the investors are ordinary people buying condos.
I really do not see him this way. He doesn't strike me at all as a caricature of the evil rich corporate elite. Just as a very rich guy with an oversized personality who loves attention.
Fair enough.
I don't think anyone trusts him with their money, they will do projects with his brand in the hopes it has the kind of pulling power he claims.
Isn't that "trusting him with their money?" Here's an example from the google I referenced:
Stephen and Linda Drake cast aside concerns about owning property in Mexico because they believed in Donald Trump.

The Southern California couple paid $250,000 down payment on a 19th-floor oceanfront condo in Trump Ocean Resort Baja in 2006 before the first construction crew arrived.

But admiration for the celebrity developer and star of “The Apprentice” has now turned into anger and disbelief as Trump’s luxury hotel-condo plan collapsed, leaving little more than a hole in the ground and investors out of their deposits, which totaled $32.2 million.
http://seattletimes.nwsource.com/html/nationworld/2008824545_trump07.html

Though I'm not certain, I suspect Trump makes money from a deal like that whether the property succeeds or not - like a stock broker.
 
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  • #85
On reflection, I believe I'll have to back up a little on Obama's tax pledge and admit the situation between the President and Congress complicates the issue, at least with respect to the pending Jan 2011 tax increases.

The significant history:
Again the '08 campaign pledge, repeated several times and places:
Obama said:
"I can make a firm pledge. Under my plan, no family making less than $250,000 a year will see any form of tax increase. Not your income tax, not your payroll tax, not your capital gains taxes, not any of your taxes."

Then, from the http://www.whitehouse.gov/sites/default/files/omb/budget/fy2011/assets/message.pdf" released earlier this year it appears Obama remained aligned with the pledge:
FY 2011 Budget said:
the Budget eliminates the Bush tax cuts for those making more than $250,000 a year and devotes those resources instead to [...]

Finally in the http://www.oliverwillis.com/2010/09/08/text-of-obama-speech-in-cleveland-on-the-economy/" in Sept:
Obama Sept Cleveland speech said:
Under the tax plan passed by the last administration, taxes are scheduled to go up substantially next year. Now, I believe we ought to make the tax cuts for the middle class permanent.

So at least by pronouncement the President has remained aligned with his pledge.

Then again, public pronouncements are one thing and actions are another. He is the President with large party majorities in both houses, yet taxes on millions of taxpayers making less than $200/$250k will none the less increase as of Jan 1. It seems to me that if the President really wanted to make this happen, we would have at least had a vote on the matter in the House.
 
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  • #86


Gokul43201 said:
Since, in your opinion, I'm really only playing a game here, why do you expect an honest response to your question?

Russ, I'm getting weary of your personal jabs.
Well I'm weary of gamesmanship in here, Gokul. I feel like I'm being forced to combat it in way too many places in here and get irritated when people make veiled implications, don't explain them and force others to guess what they mean. The point mheslep made was very clear and you asked for a citation for a claim he didn't make and obliquily referenced a beef with the point but didn't explain it. That's gamesmanship. What I expect (and the forum rules require) is a straightforward response to a straightforward point: Ie, your post #78 should have been your post #9.

Anyway:
It's not, and it's almost exactly the point I was making, with a further refinement: if you have no evidence that he changed his mind (the citation I have been asking for), the only option that remains is that his plan failed (or more accurately, is anticipated to fail).
Both possibilities still exist and without the ability to see inside his head and without clear evidence, none of us are in any position to judge which it was. Obama has no obligation to tell us he changed his mind (in fact, it is often to a politician's benefit to do his best to hide it). This is not a 'if you can't prove he's guilty he must be innocent' situation. That's not an accusation of a flip-flop, just an analysis of the two possible options...which is why your request for citation is unreasonable/irrelevant.

Just speaking for myself here, but I don't really have an opinion on which is correct (or will become correct under the current path). Ultimately it doesn't even matter: he's a politician and will almost certainly do what benefits him most politically in responding or not responding to the issue. I'm just laying out the possibilities and analyzing the situation. So further development:

If the issue is pressed during the current election cycle (before the taxes actually go up)*, he has a pretty decent out: he can blame it on Congressional Republicans. But ultimately, Congressional Republicans can just hammer home the 'he said it wouldn't happen but it did' refrain and can take either tack and profit from it because neither are positive for Obama.
1. There's a huge difference between being unable to implement a plan due to Congressional opposition (or whatever other reason), and actually contradicting a campaign pledge.
Absolutely, but the difference is bigger if the sitting President has a Congress of the opposite party. Since he has a Democratic Congress, people will want him to explain why he couldn't get a Congress from his own party to implement a plan he wanted (or, at least, Republicans will needle him that it makes him look impotent).
2. The take home political message, as always, will be about where the blame lies for this failure. Just as easy a political move as it may be to play a clip of the pledge, it might completely backfire, as the counter-punch - that the failure to keep taxes down on lower income brackets was directly due to Republican opposition - might do more damage than the punch.
Since Congress is Democratic, I'd be surprised if the counterpunch carries that much weight and as I said before, it opens up two more avenues for counter-counterpunchs:
1. Why did you make an unkeepable promise?
2. How are you so powerless that you cannot get a Democratic Congress to do what you want?

But it is the tendency for politicians to go negative, so I suspect you're right that he'll go with that counterpunch if he feels the need to respond. Perhaps he can give republicans a negative on the issue while taking his double-negative. I think the strategy's flawed, but it seems like it's the way politicians like to go. (If an issue is twice as negative for you as for the other guy, I think it is better to downplay/ignore than respond.)
EDIT: I have meanwhile found that Obama did, in fact, willfully contradict the pledge. The Health Care bill imposes a tax on indoor tanning parlors, and of course there's the penalty (starting 2014) for violating the insurance coverage mandate. The former is an indisputable violation of the pledge, but affects such a small group of people that it might be a hard sell, politically, to use that as the centerpiece of an "Obama broke his promise" campaign ad. The latter could be argued either way, but I think it will be more effective (in an ad attacking Obama's promises) than anything else.
I'm not sure what "it" is, but I agree that the tanning parlor thing is not going to be politically useful. I really think most people understand/believe the promise was about income taxes.

*If/when the issue comes up for his re-election, he can reasonably blame Congress in general, but obviously cutting his own party off at the knee carries its own risks.
 
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  • #87
loseyourname said:
This just keep getting better. I just found out Trump even owns a pyramid scheme that markets scam weight-loss pills:

http://www.trumpnetwork.com/Products/QuikStik.aspx

i'd have to know what's in them before i made a judgment. the plain old caffeine and ephedrine combo really does work, and can be sourced botanically.


but back to serious matters... can we please forget this silly trump nonsense and get busy amending the constitution so that schwarzenegger can run in 2012?
 
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  • #88
Proton Soup said:
but back to serious matters... can we please forget this silly trump nonsense and get busy amending the constitution so that schwarzenegger can run in 2012?

New thread?
 
  • #89
CRGreathouse said:
New thread?

please, no. :rolleyes:
 
  • #90


Russ, that's particularly unfortunate timing - coming right on the heels of mheslep's post.
russ_watters said:
Well I'm weary of gamesmanship in here, Gokul. I feel like I'm being forced to combat it in way too many places in here and get irritated when people make veiled implications, don't explain them and force others to guess what they mean. The point mheslep made was very clear and you asked for a citation for a claim he didn't make and obliquily referenced a beef with the point but didn't explain it.
While I don't particularly feel inclined to explain myself to you, the two people on this sub-forum that I have a lot of respect for are mh and CRG. I have no intention of yanking their chains.

That's gamesmanship. What I expect (and the forum rules require) is a straightforward response to a straightforward point: Ie, your post #78 should have been your post #9.
If I violated a forum rule, then report my post and give me an infraction. As I've mentioned before, I don't care much for your psychoanalysis.

Edit: Looking back through my posts to see where I could have been engaging in "gamesmanship" ...
Gokul43201 said:
That's not the citation that I said was missing. I guess I wasn't being clear enough.
Wow! Admitting I may have been unclear in my previous posts. So much for "making veiled implications".
 
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  • #91
mheslep said:
On reflection, I believe I'll have to back up a little on Obama's tax pledge and admit the situation between the President and Congress complicates the issue, at least with respect to the pending Jan 2011 tax increases.

I think if President Obama directly said to Congress, "Extend all the tax cuts for now," that Congress would probably have gone along.
 
  • #92
CAC1001 said:
I think if President Obama directly said to Congress, "Extend all the tax cuts for now," that Congress would probably have gone along.
All the tax cuts? I can't see Pelosi/ Reed ever going along with that after years and years of bashing Bush, the 'rich', and the kitchen sink for not 'sharing the burden'.
 
  • #93
mheslep said:
All the tax cuts? I can't see Pelosi/ Reed ever going along with that after years and years of bashing Bush, the 'rich', and the kitchen sink for not 'sharing the burden'.
You don't exactly need Pelosi and Reid, if you have the entire Rep side voting in favor. You just have to convince enough Dems from the more conservative states to join in. And if you propose something like a 2-year extension, I think that can be sold without a lot of trouble.
 
  • #94
Donald Trump is the US's version of Maine's Les Otten. Otten led his investors into financial ruin again and again while reaping a nice personal fortune for himself. Want to invest in the purchase and expansion of ski areas in New England, with its spotty weather, high-cost snow-making, and lousy boiler-plate ski surfaces? Les is the guy to sell it to you. Want a nice (EXPENSIVE) condo on the lower slopes that you can stay in a few weekends a year and ski to lower lifts and ski back down home every day? That sounds like heaven to a skier. How about trying to rent out such over-built and under-used condos to short-term renters, and have to pay for the damages done by irresponsible jerks who don't give a crap about your property? There is a lot of money to be made in such enterprises, but it is not to be made in the prime thrust of the public offering. Repairs, maintenance, rental-brokering are the hot profit-makers.

Creeps can always accumulate fortunes, once they get established. The more inventive and secretive they are, the longer they can pose as investment "mavens" while fleecing the idiots that trust them. Otten's latest enterprise (apart from a failed run at governor) is the wood-pellet business. You'd have to be an idiot to buy a wood-pellet stove if you live in Maine. If things get bad, the price of bagged wood pellets will only go up. If things go bad, there are thousands of Mainers with chain saws that will sell you all the wood you want at competitive prices, so you can stay warm all winter.
 
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  • #95
turbo-1 said:
Donald Trump is the US's version of Maine's Les Otten. Otten led his investors into financial ruin again and again while reaping a nice personal fortune for himself. Want to invest in the purchase and expansion of ski areas in New England, with its spotty weather, high-cost snow-making, and lousy boiler-plate ski surfaces? Les is the guy to sell it to you. Want a nice (EXPENSIVE) condo on the lower slopes that you can stay in a few weekends a year and ski to lower lifts and ski back down home every day? That sounds like heaven to a skier. How about trying to rent out such over-built and under-used condos to short-term renters, and have to pay for the damages done by irresponsible jerks who don't give a crap about your property? There is a lot of money to be made in such enterprises, but it is not to be made in the prime thrust of the public offering. Repairs, maintenance, rental-brokering are the hot profit-makers.

Creeps can always accumulate fortunes, once they get established. The more inventive and secretive they are, the longer they can pose as investment "mavens" while fleecing the idiots that trust them. Otten's latest enterprise (apart from a failed run at governor) is the wood-pellet business. You'd have to be an idiot to buy a wood-pellet stove if you live in Maine. If things get bad, the price of bagged wood pellets will only go up. If things go bad, there are thousands of Mainers with chain saws that will sell you all the wood you want at competitive prices, so you can stay warm all winter.

Please cite examples at least.
 
  • #96
Here you go.

http://www.sunjournal.com/node/809974

While American Skiing’s stockholders were taking a bath, Otten’s compensation remained healthy.

SEC filings and newspaper reports show, for example, that his salary went as high as $400,000 with a bonus of $23,000 in 2001. At that point, his salary had grown 16 percent since 1997, while the company’s losses were pegged at $130 million.

Additionally, at that time, Otten’s wife, Christine, was paid $54,000 to run the company’s retail purchasing and had the option to buy stock well below the market value, as did Otten.

An investor who had bought the stock when it first went on the market would have seen a $1,000 investment shrink to $83 at the time of the 2001 SEC filing.

Brad McCurtain of Maine Securities followed the company closely during that period, and he told Edward Murphy of the Maine Sunday Telegram, “When you look at the year that they had now — they lost $52 million and the stock price is down — what is the justification of paying someone a bonus? What’s the justification for handing out stock options? What are these people doing for you?”

A July 2003 SEC filing reveals that as part of the Otten separation agreement with American Skiing the company paid him and his executive assistant $480,000 (Otten’s share is not broken out) and transferred ownership of a vehicle worth about $20,000 to Otten.
 
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  • #97
turbo-1 said:

I'm not seeing a comparison between Otten to Trump. Otten has only owned a single publicly traded company that was eventually delisted when it became obvious it was a sham. And he failed at it. He is what I would call a wanna-be CEO. Trump has always been the real deal.

Trump has enormous successes and enormous failures. No question, but he stays in the game. You got to give him that. He deals in risky ventures but that's the kind of business he apparently likes.

That being said, maybe Trump being the President isn't the kind of risky venture that the US would want.
 
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  • #98
This morning, an interview with Donald Trump on Good Morning, he is again voicing his consideration of running for President. Possibly challenging Palin as a candidate.
 
  • #99
drankin said:
This morning, an interview with Donald Trump on Good Morning, he is again voicing his consideration of running for President. Possibly challenging Palin as a candidate.

This is the famous DiFelice effect.

For those that don't know, Mark DiFelice is a pitcher for the Milwaukee Brewers that only has one pitch - an 82 mph fastball. This guy should get slaughtered by opposing hitters! Instead, he strikes out 8.7 batters per 9 innings. Granted, he only has a 5-1 career won-loss record, because he's a middle reliever - no manager in his right mind would put someone that slow and with only pitch on the mound as a starter.

Still, every game he pitches, every drunk Brewer fan in the stands lines up outside the Brewer's locker room after the game asking for a job. Even the Italian Sausage asks for a chance to pitch (but she was once hit in the head, so that might have something to do with that). If a pitcher like DiFelice can succeed, anybody can succeed!

Palin attracts the same sort of response. In the latest Pew Research poll, she, Mitt Romney, and Mike Huckabee are virtually tied as the leading Republican candidate for 2012. If Palin can be a front runner, then any American that has ever been on TV for at least 30 seconds feels like they have a chance to be President.

I know I'm looking for eyewitness News reports hoping for the chance to stand around in the background while the reporter gives his on the spot story. I want to be President, too!
 
  • #100
BobG said:
This is the famous DiFelice effect.

For those that don't know, Mark DiFelice is a pitcher for the Milwaukee Brewers that only has one pitch - an 82 mph fastball. This guy should get slaughtered by opposing hitters! Instead, he strikes out 8.7 batters per 9 innings. Granted, he only has a 5-1 career won-loss record, because he's a middle reliever - no manager in his right mind would put someone that slow and with only pitch on the mound as a starter.

Still, every game he pitches, every drunk Brewer fan in the stands lines up outside the Brewer's locker room after the game asking for a job. Even the Italian Sausage asks for a chance to pitch (but she was once hit in the head, so that might have something to do with that). If a pitcher like DiFelice can succeed, anybody can succeed!
I take the moral of that story to be any hack sports writer can publish. DiFelice is apparently an average talent for the sport, but nevertheless he is a pitcher in Major League Baseball. The drunks, the sports writers are not and can not be. Maybe there's a bit more to pitching at that level than the speed of his fastball. One does not get there because of who your daddy knows, because you can give a good speech, or because of where you went to college. Likewise, maybe there's more to being at the top of the Manhattan real estate game through boom and bust than most people know, or think they know because of Trump's annoying self-promotion. Trump acquitted himself well in the interview, I think.
 

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