If that is the case then why business owners should be compensated handsomely when they succeed? while they reap the benefits of success ,failure should be owned by society?
I am not saying personal financial position should be destroyed but if you are a multimillionaire already why your failures should be outsourced to society?
And as far as growth is concerned, what's wrong with growing slowly? Cancer too is growth, it's just uncontrolled.
Coming to Trump, he repeatedly failed doing the same type of business.
According to this Washington Post article, he filed for Chapter 11 a number of times. You argue that being super rich doesn’t count as failing, quite from the article “Trump Hotels and Casinos Resorts filed for bankruptcy again in 2004, after accruing about $1.8 billion in debt.“, which sounds like a failure to me. Trump seems to be good at wiping out other people’s money while protecting his own.
Lets say that you own stock in a company that goes bankrupt. Sears, for example. Does that qualify you as a failure? Besides, I would wager that President Trump owned a lot more successful companies than failed companies.
It not that simple. Excerpt from New York times sheds some light onto his morality and what he actually did [1]. I have used him as an example only. My point is that corporate world is filled with many such examples much more sinister than Trump.
> The New York Times, which conducted an analysis of regulatory reviews, court records and security filings, found otherwise, however. It reported in 2016 that Trump "put up little of his own money, shifted personal debts to the casinos and collected millions of dollars in salary, bonuses and other payments."
"The burden of his failures," according to the newspaper, "fell on investors and others who had bet on his business acumen."
Then he must be the biggest presidential failure in history. I write this as I enjoy the nice tax cut he put in my pocket. (Does that count as a failure too?)
I am not saying personal financial position should be destroyed but if you are a multimillionaire already why your failures should be outsourced to society?
And as far as growth is concerned, what's wrong with growing slowly? Cancer too is growth, it's just uncontrolled.
Coming to Trump, he repeatedly failed doing the same type of business.