VIDEO "A Classic State Capitalist": How Donald Trump Profited from Public Subsidies & Political Favors

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"A Classic State Capitalist": How Donald Trump Profited from Public Subsidies & Political Favors In a compelling segment from Democracy Now, investigative journalist Wayne Barrett discusses the intricate relationship between Donald Trump and his father, Fred Trump, and how it laid the groundwork for Donald's ascent in the competitive world of real estate. The clip offers a critical analysis of Trump's narrative as a self-made billionaire, examining the extensive support he received from his father's established connections and financial resources. Barrett, who chronicled Trump's career since the late 1970s, highlights how Fred Trump was not just a financier but a powerful political figure who strategically leveraged his relationships to benefit his son. The discussion begins with Trump's evocative remark about his upbringing—in which he recounted receiving only “a small loan of a million dollars” from his father. However, the narrative quickly shifts to reveal Fred Trump's significant involvement in Donald's ventures, including Trump Tower and casino operations in Atlantic City, where Fred’s influence was paramount for obtaining financing and necessary permits.

Key Takeaways:​

• Political Connections: Fred Trump was deeply involved in New York real estate and had vital connections, including ties to key political figures such as former Mayor Abe Beame. This level of influence significantly boosted Donald’s projects, bringing them to fruition against substantial odds.
• State Capitalism: Barrett's biography invites readers to reconsider the definition of "self-made" in Trump’s case. Rather than relying solely on personal initiative, Trump's rise was facilitated by his father's resources and political clout, showcasing a form of state capitalism where success is intertwined with government and political connections.
• Racial Discrimination Cases: The segment also brings to light the federal investigation into racial discrimination practices associated with Fred and Donald Trump’s real estate ventures, which has left a shadow over their reputations and business ethics.
• Community Dynamics: Furthermore, Barrett's insights provide a glimpse into how Trump properties attracted controversial figures, highlighting a culture of association with known criminals, which raises questions about the ethical implications of such relationships. As we reflect on this discussion, it challenges many of the ideals surrounding entrepreneurship and success. It's a piece that invites further dialogues about the narratives we accept from public figures and the complexities behind those narratives. What are your thoughts? Do you believe that political connections are somewhat necessary for success in today's economy, or should personal achievement solely determine one's success? Share your insights and let’s dive deeper into this conversation!