Tag: Economy

Toomey’s Bank Wouldn’t Lend To Low-Income PA Families — But Toomey’s Plane Company Got A Loan

Pat Toomey’s bank wouldn’t loan money to low- and moderate-income Pennsylvania families — but it was happy to give Toomey a loan for his private airplane-leasing company.

Team Capital Bank — the bank Pat Toomey founded and owned — was profitable for Pat Toomey, even as he tried to repeal consumer protection regulations on the Banking Committee. But Team Capital hasn’t similarly been a positive for Pennsylvania families. Case in point: Team Capital used a controversial foreclosure tactic banned in a number of states to try to foreclose on at least 20 Pennsylvanians’ homes.

And that isn’t all, Team Capital also got in trouble with regulators when it from 2006 to 2009 “failed to lend to low-and moderate-income borrowers.”

Meanwhile, during that same period Team Capital gave Pat Toomey a loan worth between $100,001 To 250,000 for his private plane-leasing company.

Low- and middle-income families in Philadelphia weren’t able to secure loans from […]

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Trump Is A Con Artist Who Would Destroy The Economy To Help Himself

Donald Trump really tries to talk a good game on trade and the economy, but his history of outsourcing his own products and profiting from trade proves he’s a foe for working families.

Donald Trump’s non-apology for cheering on the housing crisis because he saw an opportunity to profit while working families lost their homes: “That’s called business.” 

Sadly, there’s nothing surprising about Donald Trump feeling just fine about the prospect of others suffering because he thought he could make a quick buck. That’s the philosophy that’s defined Trump’s entire adult life, and it comes through in his Trump First economic policies that help him and his wealthy donors, but would tank the economy.

“Who the hell cares if there’s a trade war?” Trump asks, oblivious — or just indifferent? — to the fact that his “trade war” mentality and billionaire friendly tax proposals (yes, he has […]

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Trump Is A Con Artist Who Would Destroy The Economy To Help Himself

Donald Trump’s non-apology for cheering on the housing crisis because he saw an opportunity to profit while working families lost their homes: “That’s called business.” 
 
Sadly, there’s nothing surprising about Donald Trump feeling just fine about the prospect of others suffering because he thought he could make a quick buck. That’s the philosophy that’s defined Trump’s entire adult life, and it comes through in his Trump First economic policies that help him and his wealthy donors, but would tank the economy.

“Who the hell cares if there’s a trade war?” Trump asks, oblivious — or just indifferent? — to the fact that his “trade war” mentality and billionaire friendly tax proposals (yes, he has four) would not just add $10 trillion to the national debt, but also ensure “the economy suffers a lengthy recession and is smaller at the end of his four-year term than […]

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Trump’s Dangerous Stock Market Babble

A day after unveiling an economic plan with all the trademarks of a GOP give-away to the super-rich, Trump went unhinged and fell off message yet again this morning reiterating his position that Americans should avoid investing in the stock market–a linchpin of American wealth–because it’s, “all a big bubble”. Last week Trump implied that Syrian refugees are also somehow a threat to the health of the market. This isn’t a new development from Trump. In January, Trump cautioned that the stock market is “semi-crashing”. Since then, the Dow has added 2,777 points and the S&P 500 has tacked-on 321 points.

Trump’s dangerous rhetoric risks undermining investor confidence in the markets, possibly precipitating the type of downturn he’s warning against. If Trump made such prognostications in the Oval Office, they would almost certainly cause a staggering downturn in markets leaving many Americans with less in their retirement savings.

Trump is neither astute […]

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Trump’s Trade Fever Dream Threatens Americans

Among Donald Trump’s many dangerous fantasies is his claim that a “trade war” would be good for working Americans. The truth is Trump’s trade proposals could lead to a “lengthy recession,” according to Moody’s Analytics.

Trump puts on a show of railing against companies that outsource and ship jobs out of the U.S. Trump says he opposes outsourcing, but his Trump-branded clothing, “as well as eyeglasses, perfume, cuff links and suits,” are all manufactured overseas, in “Bangladesh, China, Honduras and other low-wage countries.” Just as bad, Trump invests in and profits off those very same companies that he criticizes for outsourcing.

Trump’s call for a “trade war” reveals how dangerously naive Donald Trump is about international trade. Donald Trump is a lying con man, who’s consistently put his own interests and profits first, no matter who has to get hurt. 

Watch here for the worst of Donald Trump’s trade hypocrisy:

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Trump First: Trump’s Economic Policies Help Him, Hurt Us

In his speech this afternoon on trade and the economy, Donald Trump will certainly bemoan outsourcing that shifts “our jobs, our wealth and our factories to Mexico and overseas.”

The hypocrisy is palpable.

Trump has outsourced much of his Trump-branded clothing and other products to countries like Mexico, China, and Bangladesh. Currently, Trump is seeking more guest workers for his his resorts; jobs that American workers are eager to do. Trump for weeks attacked Nabisco, Ford, Carrier, and other U.S.-based companies for outsourcing manufacturing. 

Then we learned what Trump was hiding: Trump was investing in and profiting off those same outsourcing firms, even as he criticized them for shipping jobs to Mexico. Trump is so unstable he can’t see–or refuses to recognize–that he’s engaging in the same acts he decries.

It’s baffling and dangerous hypocrisy from Trump. From running his Trump University racket to not paying his bills, Donald Trump’s built his wealth […]

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Trump’s Tax Plan Is Extremely Dangerous

Trump’s tax plan “would make the national debt skyrocket by $10 trillion or more.”

Moody’s Analytics found that Trump’s tax reform proposal and trade policies could very well bring about a “lengthy recession,” and noted that Trump’s “Who the hell cares if there’s a trade war?” bravado is as dangerous as it is naive, because such a trade war would render “the U.S. economy…isolated and diminished.”

Trump only cares about enriching himself and will act to give himself a kickback whenever possible, no matter who has to get hurt in the process. Just look at the way Trump cheered on the housing crisis. Or the way in which he celebrated the prospect of disastrous post-Brexit economic turmoil because he thought it would be good for his business interests. 

Trump hasn’t demonstrated the ability to separate his business interests and the nation’s interests–and that is a hazardous shortcoming. 

Donald Trump is a reckless, […]

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Trump’s Economic Agenda Is Good For Trump — But It’d Wreck The Economy

Donald Trump’s economic agenda is great for him. Top income-earning households would get the “largest cuts” under Trump’s tax plan — “an average tax cut worth over $1.3 million, nearly 19 percent of after-tax income” for the top 0.1%, according to the Tax Policy Center.
That’s a great deal for Trump and his billionaire friends and donors, because they get a disproportionate boost while the lowest income-earners are left with “an average tax cut of $128.”

Here’s the catch: Trump’s tax plan “would make the national debt skyrocket by $10 trillion or more.”

Moody’s Analytics reports that Trump’s tax reform proposal and trade policies could very well bring about a “lengthy recession,” and notes that Trump’s “Who the hell cares if there’s a trade war?” bravado is naive, because such a trade war would render “the U.S. economy…isolated and diminished.”

Trump only cares about enriching himself and will act to give himself a […]

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Make America Work Again? Trump Vineyard Imports Foreign Labor

Donald Trump has Trump Winery GM Kerry Woolard on stage tonight as part of his “Make America Work Again” programming.

But rather than highlight Trump as a job creator for American workers, all Woolard draws attention to is Trump’s eagerness to hire foreign workers:

Trump Vineyard hired 58 foreign workers as seasonal farm employees from 2014-2016 — including 19 workers set to begin work in late March 2016.

Trump talks a big game about brining jobs back to America — but all he’s done at Trump Vineyard is bring foreign labor in.

Background:

Trump Vineyard Relied On Foreign Worker Visas
March 2016: Trump Vineyard Applied For 19 h-2A Visas For Temporary Foreign Workers

Trump Vineyards Applied For Up 19 H-2A Visas To Hire Temporary Foreign Workers In 2016. According to ABC News, “But it’s not just Trump’s Mar-a-Lago Club that relies on foreign labor. So, too, does Trump Vineyard in Virginia, which is run by Trump’s son Eric. U.S. Department […]

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Financial Turmoil: Bad For Us, Good For Trump

In 2006, Donald Trump hoped for a housing market crash: “I sort of hope that happens because then people like me would go in and buy.” Trump’s wish came true, and millions of Americans lost their homes and jobs — presumably as he padded his pockets. Trump doubled down on those statements reiterating on the trail that, “That’s the kind of thinking we need,” and, “If it goes down, it goes down.“

In a similar line of reasoning, Trump callously asserted last week that “If the pound goes down, more people are coming to Turnberry, frankly.“

As global markets continue their steep decline this week, Donald Trump is only concerned with his bottom line and congratulating himself for making the “correct call” on Brexit. There’s no separation between Trump’s campaign and his business interests. “, millions are watching their retirement accounts take a hit. […]

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