Busted: Trump Caught Red-Handed Funneling Campaign Cash to His Own Companies
As the primaries end and candidates transition into general election mode, the discrepancies between the Clinton and Trump camps couldn’t be clearer – and conservative fears about both Trump’s chances at winning and his determination to do so are only getting worse. A report from the New York Times last night showed that Trump has a meager war chest of $1.3 million on hand, in comparison to Hillary Clinton’s $42 million – and we may have discovered where all that money is going.
Recipients of payments from Trump campaign with “Trump” in name, through May 31. Doesn’t include Mar-a-Lago/planes. pic.twitter.com/JF6skaWYGF
— Derek Willis (@derekwillis) June 21, 2016
He plays off his lack of obvious spending on usual expenses like attack ads, campaign materials, and on-the-ground staff by telling his supporters he’s being very frugal – but analysis of his Federal Elections Commission report by Rebecca Ballhaus of the Wall Street Journal shows that he is funneling donation cash to his own personal businesses and using his war chest as a personal piggybank. Trump has been spending boatloads of campaign cash to fly himself and his kids around the country, and uses more to fund his own business ventures.
Among Trump’s top expenses: $423K to Mar-A-Lago, his golf club, and $349K to Tag Air, the airline he owns.
— Rebecca Ballhaus (@rebeccaballhaus) June 21, 2016
Trump directed ~20% of his campaign spending in May—$1.1M—to firms he owns & travel reimbursements for his kids https://t.co/y4yboQ2lm0
— Rebecca Ballhaus (@rebeccaballhaus) June 21, 2016
Far from being a responsible businessman and a good money manager, Trump has been tearing through his money at a fast pace and not replacing it. It’s hard to picture Trump having to swallow his pride, sit in an office and begging other wealthy men for donations (a recent report says that he only made it three people through a list of twenty before giving up), meaning fundraising isn’t going to be a strong point. It’s equally hard to see the perpetually stingy Trump actually using his own money to fund the campaign into the general.
Yet Trump has loaned himself less money each month, even as donations have stayed fairly constant https://t.co/JUDHms9oJs
— Rebecca Ballhaus (@rebeccaballhaus) June 21, 2016
Trump says he’s frugal, but he spent more than he raised (including personal loans) in May. Burn rate: 120%. https://t.co/y4yboQ2lm0
— Rebecca Ballhaus (@rebeccaballhaus) June 21, 2016
This latest bombshell revelation would seem to indicate that, just as many of us have suspected for some time now, Trump’s campaign is nothing but a long scam with no real intention of making a concentrated effort for the White House. It would appear that Trump’s “businessman” instincts have taken over – to extort, cheat, and steal from the American people for his own personal profit. As his poll ratings plummet, it is safe to say that his campaign is in freefall, and all our fears of a President Trump have been exaggerated. Maybe he can turn things around with some more fake fundraisers for veterans?
ProPublica’s detailed breakdown of Trump’s spending can be found here.
Trump’s full FEC filing can be found here.
