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Letter: Truth about Trump

Regarding Mr. Stan Rachesky’s recent letter in support of Donald Trump, there were several grave errors in the information that he provided; it being a presidential election I find it unfortunate that people so misinformed are perpetuating information that is often believed to be true by others and thus used in their voting decisions.

Mr Rachesky states that there are 58 million Americans on food stamps, when in fact the number topped out at 46.6 million and is in decline. Seventy-five percent of households collecting food stamps include an elderly person, a disabled person or a child. A racial breakdown of of those collecting food stamps is as follows: 40.2 percent white, 25.7 percent African-American and 10.3 percent Hispanic. Surprised? Yes, there are freeloaders, and I do understand your resentment.

And so, I turn to the history of the Trump family. You state that Donald Trump started his fortune with only a million dollars. Mr. Rachesky, read a little. Donald started his fortune with “gifts” and inheritance estimated to be between $40 million and $200 million. You also state that he is worth $10 billion, a number doubted by most experts and unsubstantiated since he won’t release his tax records.

Upset about welfare? Let’s go back to the ‘30s, when Fred Trump used federally subsidized FHA loans to build low-income housing — lots of government-subsidized loans over decades. As it turns out, Mr. Rachesky, the Trump family fortune was based on the sweat and hard-working shoulders of your grandparents.

Today Mr. Trump’s various bankruptcies trickle down to the consumer — “the little guy” — in terms of interest rates and cost burdens that banks use to make up for their losses. Mr. Trump doesn’t pay; who do you think does? I could go on, but then you are a man who continues to believe and tout the idiocy of “trickle-down economics,” an economic model of taxation shown to not work over three decades ago.

Marco Diaz

Redstone


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