Since the relentless media/Democrat attacks on president Trump have failed they are now pushing a new narrative which is that Trump’s wealth is illegitimate.
One of the many accusations that has backfired was that Trump doesn’t pay any taxes. Yet when one of his tax forms from 2005 was leaked it showed that Trump paid a 25% federal tax rate, or a higher rate than most Americans pay including Obama (19%), Bernie Sanders (13%), George W. Bush, John Kerry or Mitt Romney.
Kaboom… big backfire… Again… these people never learn but just move on to another bogus charge.
The really big issue, however, is that Trump is not your standard modern-day billionaire. Trump earned his wealth the old-fashioned way – he built it brick by brick, girder by girder. You can go and see what he built, or even stay overnight in one of his fine hotels. He constructed or renovated buildings that have a real dollar value.
On the other hand Bill Clinton’s son-in-law Mark Mezvinsky had a hedge fund. Such a fund is simply numbers on a computer screen, and Mezvinsky’s fund collapsed in December 2016 and disappeared into cyberspace.
You cannot destroy Donald Trump’s wealth because it is concrete and steel and glass. He owns 37 major properties pictured here, including residential buildings, hotels, resorts and golf courses all around the world. Each one has a monetary value. Combined they add up to $4 billion to $9 billion, which would be Trump’s ‘net worth’.
The figure is variable because there can be wide discrepancies in the perceived values of the buildings; their real value cannot be determined until they are sold, and Trump isn’t selling.
Trump constructs quality buildings with the best materials. The beautiful new Trump hotel in the Old Post Office building in Washington, DC is a perfect example. It is the pinnacle of elegance and fine materials and finishes. This is why Trump’s wealth is real and cannot be taken away or disappear overnight.
On the other hand Bill and Hillary Clinton claim that they left the White House in 2001 “broke” and since then have earned a $125 million fortune primarily by making speeches at $250,000 or more each. They also had personal access to some of the wealth that they collected in contributions to their global charity. That charity’s whole existence was based on Hillary becoming president, at which time the contributors would get political favors.
Unfortunately now that Hillary has failed to be elected president they cannot do those favors and their income is shrinking. Business groups no longer will pay them great sums for speeches because the businesses have no way to get repaid with favors. Bill and Hillary even closed their charity, which attracted hundreds of millions of dollars in contributions which the Clintons used for their personal aggrandizement in one way or another, including as an informal “slush fund” for personal use.
In 2013 Hillary was given a $14 million advance for a book, yet the book hardly sold even with endless free media coverage. That $14 million was typical of how liberals build their wealth on Other People’s Money.
Obama’s current net worth is estimated at $13 million. Now a publisher is reported to be offering Obama $60 million in advance for a book about his presidency. This $60 million really represents Obama lovers in the publishing industry channeling “funny money” to Obama like they did for Hillary, so that Obama can live comfortably and continue promoting his radical agenda.
Nikitas3.com predicts that Obama’s book will sell poorly since few people are interested in Obama enough to shell out for an expensive book.
Many rich people in America today earn their money like this. They are ‘paper billionaires’ on Wall Street or they earn their wealth in the media, advertising, through their political office, in Hollywood, writing books, or on the internet or in totally nefarious ways.
This situation is quite different from someone like Trump or like the business tycoons who emerged in the 50 years after the American Civil War when the national economy was booming. They were giants like George Westinghouse, Andrew Carnegie, James J. Hill and Henry Ford. They did not write books, give speeches, get elected to office or operate websites or hedge funds. They manufactured things and built things and developed technologies that were useful to all mankind and still are today.
Carnegie gave us the advanced steel technology that built the modern world in the 20th century. Westinghouse was a pioneer in the electronics industry and he financed the development of the air brake system that still prevails on railroads around the globe today. Hill built the Great Northern Railway from St. Paul, Minnesota to Seattle, which opened up an entire region of our nation. Henry Ford established Ford Motor Company and perfected the assembly-line concept for the efficient production of goods.
These trailblazing men built the American economy with crucial products and technological innovation that made the world a better place and that only could have evolved in a free and capitalist nation like America.
Their efforts then did much more; over the last century the ideas and companies that these industrial titans spawned and inspired have employed hundreds of millions of people all over the world at good wages.
Yet the contemporary left-wing narrative is that these tycoons were “robber barons”, which is just more political propaganda. In fact the biggest ‘robber barons’ of all are left-wing swindlers like George Soros, Al Gore and Joseph P. Kennedy, who are discussed further down in this commentary.
Mitt Romney is a really smart guy who has an investment firm called Bain Capital that created 130,000 jobs. This includes 6,000 jobs at Steel Dynamics, which represents the revitalization of the American steel industry. Romney’s net worth is $275 million.
On the other hand the entertainer Cher is worth $330 million and she is a bonehead who can barely put a sentence together. If Cher never existed nobody would know or care. If Andrew Carnegie or George Westinghouse never existed, the world would be a much poorer and less advanced place than it is today.
Facebook founder Mark Zuckerberg is a radical open-borders leftist who today is worth $45 billion at age 32. He has never worked a day in his life. He built nothing. All he did was get funding for Facebook from wealthy investors to turn it into an internet phenomenon. Zucky even was charged with stealing the idea for Facebook from two Harvard classmates, twin brothers named Winkelvoss. Wikipedia reports:
In 2004, the Winklevoss brothers sued Facebook founder Mark Zuckerberg, claiming he stole their ConnectU idea to create the popular social networking site, and ultimately received $65 million.
If Facebook closed today another site would replace it overnight. But if George Westinghouse’s air-brake system suddenly stopped operating, the global economy would collapse without trains since nobody has come up with as good a braking system as Westinghouse did almost 150 years ago.
The Westinghouse story shows the difference between old-fashioned capitalism (which helps everyone) and socialism (which benefits only socialists and their cronies and their causes).
Most of the $1 billion Kennedy family fortune came from stock market fraud in the 1920s by the family patriarch Joseph P. Kennedy. That type of fraud caused the market crash of 1929, which triggered the depression of the 1930s, ruining tens of millions of American lives. In other words the Kennedys got rich on the backs of thousands of “little guy” investors who lost their shirts. Indeed the Kennedys are ‘cursed’ because their wealth was illegitimate to start with.
Democrat Lyndon Johnson, who served as US president from 1963 to 1969, is considered to have been our most corrupt president ever. His net worth is estimated in today’s dollars at over $100 million. He even blatantly stole his first election in 1948 to the US Senate from Texas and was the figure most responsible for the massive American involvement in the Vietnam War.
US president Franklin D. Roosevelt was a wealthy Democrat whose fortune today would be $66 million. He got his family wealth from his maternal grandfather Warren Delano who got rich shipping opium into China. Joseph P. Kennedy also made a fortune bootlegging in the 1920s.
Can you imagine the hysteria if president Trump’s father were a bootlegger or an opium transporter? Or a stock market fraudster? Instead of a totally legitimate businessman?
Jon Corzine was a Wall Street bigshot and Goldman Sachs chairman who then became a Democrat US Senator from New Jersey. Corzine’s brokerage firm MF Global went up in smoke in 2011, with $1.2 billion disappearing. We never found out what happened there. Nikitas3.com suspects that the firm was looted, and that someone close to Corzine got that cash.
Now consider three of America’s richest men and compare their sources of income. George Soros is a hard-left figure with a $25 billion fortune. He is an international currency speculator. He looks at computer screens and makes educated guesses about the movement of wealth around the globe.
Such speculators have been considered since the beginning of time to be devious people. Even George Washington warned about them. Soros’ manipulations even have caused major international economic crises, i.e., Soros got rich as millions suffered. A website called Human Events reports:
A large part of Soros’ multibillion-dollar fortune has come from manipulating currencies. During the 1997 Asian financial crisis, Malaysian Prime Minister Mahathir bin Mohamad accused him of bringing down the nation’s currency through his trading activities, and in Thailand he was called an “economic war criminal.” Known as “The Man who Broke the Bank of England,” Soros initiated a British financial crisis by dumping 10 billion sterling, forcing the devaluation of the currency and gaining a billion-dollar profit.
On the other hand the two Koch Brothers (combined net worth $45 billion) support conservative causes. Did they make money on a computer screen? Or an internet site? Or moving money around the globe and breaking the economies of whole nations? Or writing books? Or plundering the stock market?
No, they built their wealth methodically over many decades by improving the American economy with vital products, services and resources. Here is how Koch Industries is described by Wikipedia:
Koch Industries, Inc. is an American multinational corporation based in Wichita, Kansas , United States, with subsidiaries involved in manufacturing, trading, and investments. It was founded as Wood River Oil and Refining Company in 1940, and later as Rock Island Oil & Refining Company.
Koch also owns Invista, Georgia-Pacific, Molex, Flint Hills Resources, Koch Pipeline, Koch Fertilizer, Koch Minerals, Matador Cattle Company and recently Guardian Industries. Koch companies are involved in industries such as the manufacturing, refining and distribution of petroleum, chemicals, energy, , fiber, intermediates and polymers, minerals, fertilizers, pulp and paper, chemical technology equipment, ranching, finance, commodities trading and other ventures and investments. The firm employs about 60,000 people in the United States and another 40,000 in 59 other countries.
In short, Koch Industries creates real products that make our modern world possible, and employs 100,000 people. On the other hand Facebook is an internet site that employs 3,000 people.
Al Gore left the White House as vice president in 2001 with $1 million in net wealth and today has $200 million. He has built nothing, produced no products, and employs nobody. He makes a reputation for himself as a ‘green’ alarmist.
He made most of his money when he started a television network called Current TV which failed and then was sold for a huge profit to a pro-Islamist Middle Eastern media firm called Al Jazeera.
It is amazing how that worked. We should investigate what was really going on there. It sounds like an influence-peddling scheme to me.
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