Comments by "D W" (@DW-op7ly) on "CBC News"
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That argument reminds me of when I use to debate dum down Americans
Sure they may have lost 7 million manufacturing jobs from the height of their manufacturing days. But they gained 53 million service sector jobs
33 million of them higher paying jobs than their manufacturing jobs
So with more jobs, more higher paying jobs, and added saving from imported goods
did the average American Invest,save, throw that money under the mattress?
No they spent those added earnings and the borrowed to spend some more
For us average Canadians? We were no better
Here is an example
* From 2004 to 2008, more than one in seven manufacturing jobs, nearly 322,000, disappeared
* In fact, from 2004 to 2008, over 1.5 million jobs were created in the rest of the economy—a growth of 11%.
StatsCan
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President Trump participated in dubious tax schemes during the 1990s, including instances of outright fraud, that greatly increased the fortune he received from his parents, an investigation by The New York Times has found.
Mr. Trump won the presidency proclaiming himself a self-made billionaire, and he has long insisted that his father, the legendary New York City builder Fred C. Trump, provided almost no financial help.
But The Times’s investigation, based on a vast trove of confidential tax returns and financial records, reveals that Mr. Trump received the equivalent today of at least $413 million from his father’s real estate empire, starting when he was a toddler and continuing to this day.
Much of this money came to Mr. Trump because he helped his parents dodge taxes. He and his siblings set up a sham corporation to disguise millions of dollars in gifts from their parents, records and interviews show. Records indicate that Mr. Trump helped his father take improper tax deductions worth millions more. He also helped formulate a strategy to undervalue his parents’ real estate holdings by hundreds of millions of dollars on tax returns, sharply reducing the tax bill when those properties were transferred to him and his siblings.
These maneuvers met with little resistance from the Internal Revenue Service, The Times found. The president’s parents, Fred and Mary Trump, transferred well over $1 billion in wealth to their children, which could have produced a tax bill of at least $550 million under the 55 percent tax rate then imposed on gifts and inheritances.
The Trumps paid a total of $52.2 million, or about 5 percent, tax records show.
NYT
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