Tuesday, April 19, 2011

Bad Businessman

At NRO, Robert VerBruggen explains that there are two kinds of businessmen and Donald Trump is not the kind we want as president:

And that’s not to mention another favored technique of Trump and many others in the business world: Rather than compete in a free market, they get in bed with the state. Trump became “partners” with the City of New York to build a hotel in the 1970s — a deal that involved a 40-year property-tax abatement that saved him “tens of millions of dollars.” (Libertarians: If you think that selectively letting people out of their taxes is somehow different than a government subsidy, please spare me.) More recently, he’s had the government take other people’s real estate and give it to him. How exactly would this experience help Trump as president? It’s much harder for a politician to balance a budget than it is for a business to use its lobbying power to get favors from politicians, and the last time around, Trump’s big idea on the budget front was simply to confiscate wealth from rich people.