Donald Trump on Corporations

2000 Reform Primary Challenger for President


Get U.S. money back into U.S.: address corporate inversion

What's happening right now is something that not been a subject of conversation by politicians. They haven't talked about a corporate inversion. Companies are leaving the United States to go to other countries. They have trillions of dollars in those other countries. They can't get their money back in. It's probably two and a half trillion. All of that money could be used to rebuild our country.
Source: Fox Business/WSJ Second Tier debate , Nov 10, 2015

I've used bankruptcy laws to do a great job for my companies

Q: Trump corporations, casinos and hotels, have declared bankruptcy 4 times. Why should we trust you to run the nation's business?

TRUMP: Because I have used the laws of this country, the chapter laws, to do a great job for my company, for myself, for my employees, for my family. I have never gone bankrupt, by the way. I have never.

Q: But your companies have gone bankrupt.

TRUMP: Out of hundreds of deals that I've done, on 4 occasions I've taken advantage of the laws of this country, like other people. The difference is, when somebody else uses those laws, nobody writes about it. When I use it, they say, "Trump, Trump, Trump."

Q: Trump Entertainment Resorts went bankrupt in 2009; lenders to your company lost over $1 billion and more than 1,100 people were laid off.

TRUMP: These lenders aren't babies. These are total killers. These are not the nice, sweet little people that you think, OK? I had the good sense to leave Atlantic City; every company virtually in Atlantic City went bankrupt

Source: Fox News/Facebook Top Ten First Tier debate transcript , Aug 6, 2015

2002: Participated in development boom of Jersey City

Jersey City at the time had been coming off one of the largest building booms in history. Top developers, including Donald Trump and suburban home builders such as Toll Brothers and K. Hovnanian Homes, were putting in thousands of new residential units. The tallest building in NJ, the Goldman Sachs Tower, designed by renowned architect Cesar Pelli, had been planted along the waterfront just a few years earlier. With so much new construction, they were calling the downtown area around City Hall a gold coast, permanently transforming a city once left for dead.
Source: The Jersey Sting, by Sherman & Margolin, p.120 , Apr 10, 2012

0% corporate tax would create millions of jobs

We need to lower the U.S. corporate tax rate from 39 percent to zero. America's corporate tax rate is the second highest on the planet. The international average is 26 percent. How can we expect companies to hire American workers and locate their business in America when our government taxes them at exorbitant rates for doing so? That's crazy. I want to encourage American companies to stay here and hire American workers, and I want foreign companies to relocate their businesses to the United States and create jobs here. We are the greatest country on planet earth--the world's companies want to be here. A zero percent corporate tax would create an unprecedented jobs boom. Millions of jobs would materialize.
Source: Time to Get Tough, by Donald Trump, p. 63 , Dec 5, 2011

Fight crony capitalism with a level playing field

One thing the Tea Party folks and the Occupy Wall Street people can and should agree on is tackling the rampant problem in the Obama administration of crony capitalism. We've already seen with Solyndra and Fisker how the president's pals and big time campaign donors all got sweetheart loans and deals and stuck taxpayers with the bill. I predict we haven't heard the last of it and that the Obama administration engaged in many more cases of funneling money to companies connected to the president and his donors. Mark my word.

I love capitalism enough to protect it. There has to be a level playing field where everyone can compete fairly. The guy swinging a hammer all day shouldn't have the government reaching in his pocket and handing his taxes to Obama's big shot donors. It's wrong and unfair.

Source: Time to Get Tough, by Donald Trump, p.188 , Dec 5, 2011

Wealthy move assets around globally based on tax incentives

[Trump's tax proposal] in 2000 was to impose a one-time 14.25% tax on the assets of people and trusts worth $10 million or more. Conservative critics attacked the plan, using arguments similar to those made by Trump today to deride Obama's proposal. Pat Buchanan, who was then Trump's main opponent for the Reform Party nomination, said the tax proposal would prompt the wealthy to move their money out of the U.S.

When questioned, Trump also argued that the tax would drive the wealthy to shift their assets, the developer dismissed those concerns: "Well, I just think that the booming economy that we create by my plan would keep the money here because it's incentive. They're going to want to be where the action is. They're going to want to be where the good economy is. And they move their money around, hey, including me. You move your money around where the action is, and now it's a real world economy. But this country would be booming. We'd have no debt. It would be unbelievable."

Source: Marcus Baram on Huffington Post , Apr 26, 2011

Business is an acquired skill based on discipline & focus

A lot of people think I'm natural at business, but it's also an acquired skill that takes discipline & focus, just as being an athlete or a musician takes perseverance & training. Before I decided to go to the Wharton School of Finance, I had thought about studying film, but once I decided on Wharton, I was very serious and focused business student.

There's a certain amount of bravado in what I do these days, and part of that bravado is to make it look easy. That's why I've often referred to business as being an art.

I received a star on the Hollywood Walk of Fame in 2007, which was a big surprise for someone who opted for a real estate career. Did I have a natural talent for the entertainment industry? Maybe, but I've always paid attention to it, and I'm always learning. When I was in school, I always studied on my own in addition to what was required. I've noticed that a lot of very successful people have done the same thing, no matter what their respective fields might be.

Source: Think Like a Champion, by Donald Trump, p. 57-8 , Apr 27, 2010

Pragmatic positive: be positive, but be realistic

I'm a pragmatic positive thinker. When I hear people saying that anything you what to do is possible, that seems childish or at least uninformed to me. Some things are not going to happen. For example, if I suddenly decided tomorrow that I wanted to win a gold medal at the Olympics as a swimmer, and I was sure I could because I was so positive about it, well, I think I'd have to have some mental checks. It's not going to happen, no matter how hard I train. Or if I decide I was going to give Tiger Woods a run for his money as a golfer, starting tomorrow, I think I'd have to worry about being a little irrational. Be positive, but be realistic.
Source: Think Like a Champion, by Donald Trump, p.140 , Apr 27, 2010

Being a know-it-all shuts the door on new ideas

It's important to remain open to new ideas and new information. Being a know-it-all is like shutting the door to great discoveries and opportunities. Keep your door open every day to something new.Once in awhile ask yourself this question: What do I need to know more about?

If I'd started in business thinking I knew everything, I'd have been sunk. Don't make that mistake. There are a lot of hidden aspects in every industry, and you will find out how complex seemingly simple things can be.

Source: Think Like a Champion, by Donald Trump, p. 15-6 , Apr 27, 2010

Other candidates on Corporations: Donald Trump on other issues:
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George W. Bush (R,2001-2009)
V.P.Dick Cheney
Bill Clinton (D,1993-2001)
V.P.Al Gore
George Bush Sr. (R,1989-1993)
Ronald Reagan (R,1981-1989)
Jimmy Carter (D,1977-1981)
Gerald Ford (R,1974-1977)
Richard Nixon (R,1969-1974)
Lyndon Johnson (D,1963-1969)
John F. Kennedy (D,1961-1963)
Dwight Eisenhower (R,1953-1961)
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Page last updated: Dec 26, 2015