Investigative Journalists

"Economists have a term for situations in which someone gets rewards but has little or no incentive to avoid risk: a '. ...Those who occupy the executive suite and gamble millions of dollars on the lives of others are rarely seen as engaged in morally hazardous conduct. Yet reward without risk is a form of moral hazard that blinds us to the consequences of our acts."

"[H]e brought into the White House a host of people with fringe ideas, some of them Islamophobes... white nationalists... xenophobes, and many... sharing Trump's ignorance of science. ...[M]any ...had no qualifications ...for the posts ...he got the advice and consent of ...senators despite testimony revealing some as ...know-nothings and one ...determined to destroy the agency he now runs."

"[S]ound bytes of politicians in both parties bear as much connection to the reality of the tax system as my... grandson's belief in Santa."

"[T]axes are at the core of our democracy."

"Instead of a president of specific duties and constitutionally limited authority, Trump and his aides talk as if he is an absolute ruler, or should be, to whom all must bend the knee."

"Trump has himself reduced his life philosophy to a single word—revenge. ...Repeatedly he has said in talks and in books that destroying the lives of people he considers disloyal gives him pleasure. That Trump does not recognize ethical limits on conduct... derives from his fundamental character, narcissism."

"By deciding not to implement a rule to reduce the chances of truck drivers and train engineers' falling asleep on the job, Trump's Transportation Department has put at risk the lives of those workers as well as the lives of families traveling on our nations highways and trains. And Trump appointed to the Supreme Court Neil Gorsuch, a judge who ruled that a company has the right to fire a worker who chose not to freeze to death on the job."

"[T]hroughout his adult life Trump sought out—and worked closely with—more than a score of criminals, including Mafia associates, Russian mob associates, violent felons, con artists, swindlers, and most significant of all, the embezzler and mob associate Joseph Weichselbaum, a thrice-convicted felon. ...[W]hen Trump was the big man in Atlantic City, he got his helicopters to bring his high-rollers in and out of town through a company formed by Weichselbaum. ...Spy ...reported that Weichselbaum ...personally piloted the Trumps [in the Ivana, Trump’s personal helicopter]. ...Weichselbaum also had another business: importing drugs from Colombia..."

"[L]imiting liability... has also obscured a corporation's responsibility to function for the benefit of society. The greater good is an idea that is thousands of years old, but in the recent past corporations have been permitted to lose site of that... notion."

"Workers may toil their entire lives, communities may tax themselves to create infrastructure a corporation needs, and vendors may invest their entire fortune to supply the corporation—but none of these parties, Friedman said, has significant legal rights or moral claims. [T]he idea... was not supported by the development of the law, the regulation of business and the advancement of civilization over thousands of years. But... Friedman's ahistorical thinking has come to dominate..."

"Trump has... lived a life of thumbing his nose at conventions and law enforcement, learning... from his father, Fred, whose business partner was an associate of the Gambino and Genovese crime families. He has long been in deep with mobsters, domestic and foreign, along with corrupt union bosses and assorted swindlers. Trump even spent years deeply entangled with a major international drug trafficker who, like many of the others, enjoyed their mutually lucrative arrangements."

"Over many years in paid public appearances and in books bearing his name... Trump rejected the idea of turning the other cheek, saying that those who do are "fools" and "idiots." This philosophy was ignored by the many pastors who endorsed Trump and accepted... that he is a Christian. ...[R]evenge is explicitly rejected by Jesus and runs counter to the whole theme of the New Testament."

"Unlike individuals, who must take responsibility for their conduct, corporations' legal responsibility... has benefited from limits to that responsibility established by law. The rationale... is that people who... build a business would not take the same risks if failure meant they would lose... their houses, cars... and everything else. ...[T]hey can go about their corporate business, creating enterprises and generating wealth."

"[W]e've had this tremendous weakening of the news media, so that [many] large federal agencies... have no beat reporters... covering them. We have city councils and school boards all across America that get no coverage... and this is terrific for those people who are getting rich by exploiting the rules of the system for their benefit; and you're not hearing about that."

"Almost two cents of every dollar reported as losses one year by everyone in the United States, were reported by Donald Trump. ...He's a terrible business man. His business model is not to get an enterprise, to nurture it, to grow it, to make it more profitable over time. His business model is the same as a mob bust-out. ...[S]queeze all the cash out... don't pay your vendors, try to cheat as best you can your employees, don't pay the bankers... Trump once said, "I borrowed money knowing I wouldn't pay it back," and then leave the carcass and go on to the next deal. ...Trump's business model is to rip off one person after another who gets involved with him, thinking he will make them wealthy, while he is destroying their wealth."

"No serious coverage of taxes is possible without reading the journal Tax Notes published by , a nonprofit enterprise whose beneficiaries include reporters."

"Back in 1996 I was the principle reporter at The New York Times on a huge series... that changed the way executive pay was reported. We showed how the head of had gotten a $100 million pay one year and he only paid taxes on about $2 Million... [H]e had built a fortune of just shy of a billion dollars at that point, tax free... [T]here were members of the board of directors of Coke that did not understand how much money they had paid him."

"If you have heard about companies using a Bermuda mailbox to escape American taxes or that the IRS audits the poor more than the rich or that Enron paid no taxes or that executives have amassed massive untaxed fortunes or that the retired chief of General Electric had a free corporate jet, then you have already had a taste for some of the more shocking stories that I have come across. ...This is not just about facts, figures and statistics."

"In 2006 the trade deficit with China reached $232 billion. ...more than $60 per month for every man, woman and child in America. ...In 2004 when the trade deficit... was $161 billion, it was... more than the $126 billion of income taxes paid by the bottom 75% of Americans."

"[O]ur tax system now levies the poor, the middle class and even the upper middle class to subsidize the rich..."

"The Golden Rule has no place in the life of Donald Trump."

"The Chinese have seized upon Trump's erratic behavior and his cancellation of the to promote their own trade deal, orienting fifteen economies and India away from Washington and toward Beijing."

"Democrats and Republicans alike have turned the tax system into a vehicle not just to finance government but to finance social change. For the last three decades, it... has been weighing down the already deep pockets of the super rich while just weighing down everyone else."

"A government that takes 90 cents out of each dollar above a threshold, as... in the Eisenhower years, is deciding to limit the wealth that people can accumulate... Likewise, a government that taxes the poor on their first dollar of wages, as the United States does with the Social Security and Medicare taxes, is deciding to limit or eliminate the ability of those at the bottom... to save... and improve their lot in life."

"Prior to our Constitutional Bill of Rights... the historic problem for the inconvenient individual was predation by the state. If the king doesn't like you, throw him in , [if] the king wants your daughter when she's a virgin and you don't want to hand her over, cut the guy's throat."

"Members of Congress routinely vote on tax bills that they have never read, much less understood even on a superficial level. Sanford J. Schlesinger... says that "there hasn't been a member of Congress with a comprehensive understanding of the laws since ...""

"For almost three decades corporate profits have been growing one third faster that corporate taxes."

"Many journalists rely for expert quotes on a dozen well-financed nonprofits that exist in Washington to promote policies that primarily benefit their rich donors."

"[C]lassical "corporations"... existed not for profit but in service of the state. ...A key tenet ...has changed since ancient times... If a business fails, the chief executive does not have to become a slave to the bank... Corporations... have inverted the Roman equation: ...the state serves them."

"Trump is desperate for others to fill the void inside himself. He has a sad need for attention and, preferably, public adoration."

"For... the political donor class, the system is being remade to serve their interests while disguising the changes as benefits for every American."

"[T]he Internal Revenue Service in 2003 released its first public analysis of tax returns filed by the 400 highest income Americans... from 1992 to 2000. ...the federal income tax burden on Americans overall rose by 18 percent, it fell by 16 percent for the top 400, whose incomes soared."

"The government agencies, without nearly enough money to oversee safety... write superficial reports, and when it comes to accidents at rail crossings, they thoroughly investigate only 4 out of 3,000 cases."

"After the Sixteenth Amendment... the federal government... enacted a regime to tax incomes, gifts and estates... with the explicit promise that the basic means of sustaining life would not be taxed. The original tax regime applied only to the economic elite, to... "surplus" incomes. ...[I]ncome from capital was taxed more heavily ...in the belief that it was morally offensive to take more from money earned by the sweat of one's brow ..."

"Whose society lasted 3,300 years? It was the [Egyptian] Pharaohs. ...They figured out through public works how to keep people busy and out of trouble, and every high-born Egyptian was taught... how far you can oppress people before they would strike back. ...[T]hey also learned one other lesson. You've all heard of the ?"

"While only a minority of people was taxed during World War II, the politicians got a taste of the huge revenues... by expanding the tax base. After the war... the income tax was steadily expanded until it applied to most Americans..."

"[T]he Democrats, who have not paid attention to their knitting for 40 years, while the Republicans have been building bench strength, passing laws to suppress votes, coming up with laws to throw out votes after they're cast, as we saw in Michigan. The Democrats have to run candidates who are viable. I was sent a news clip by a friend... a couple of interviews of people who want to run for office as Democrats... they were young and they were earnest and... then they got asked questions... [T]hey immediately fell apart because they didn't know anything. They were just like Donald Trump. ...You've got to find and develop real candidates."

"People have to get registered to vote. People have to be driven to the polls on election day... Go to a district where there might be change. Arrange in advance... Don't call people and ask them to go. Go get them! Take them to the polls. That's the only thing that matters at the end of the day, our votes."

"Throughout his writings Smith warned of the damage done when government interferes in the market by guaranteeing profits or by handing out gifts. This damage can exceed that caused when government taxes unwisely or imposes rules that needlessly obstruct commerce."

"[F]or the past quarter century, policies adopted in the name of Adam Smith... that supposedly strengthen the invisible hand guiding the market, have weighed down our economy while simultaneously stuffing the pockets of those among the rich and powerful who solicited them or... were just standing in the right place at a lucrative time. This is our story, not of one free lunch, but of the many banquets at which billions and billions of your dollars are being served to the richest among us."

"[L]aws in nineteen states... let companies pocket the state income taxes withheld from their workers' paychecks for up to twenty-five years. ...In many of these subsidy programs, no jobs are created."

"Of each dollar people earned in 2005, the top 10 percent got 48.5¢... the greatest share of income pie since 1929, just before the collapsed into the Great Depression."

"Legislatures passed these laws, presidents and governors signed them and the courts have endorsed them. In many cases they effectively gut state constitutional provisions and laws banning gifts to business."

"Rewriting the economic rules... in the past few decades has been done under the banner of "" and its promise that less government means more economic growth. The term itself is a misnomer. No society is free from regulation. Everything has rules..."

"Journalism never did a great job of covering government, but 40% of journalism jobs in this country have disappeared since 2000. ...[A]s a result of that the agencies aren't being covered at all. The electricity markets, job safety, diplomacy, all through the government, the military. All of these things are being ravaged by this . ...Spend a couple of evenings reading the book, and then you've got to... tell other people. Have the facts to persuade them to understand what's wrong."

"If we do our jobs as citizens, we become informed, we insist on rational debate about real issues and we then get people to the polls, we can get a different Congress, we can get rid of this presidency and we can have a bright future. There's damage that will last forever, but the longer he's in office, the longer he is a clear and present danger to all the world. So please... read my book, get to the actual damage being done, and tell other people."

"Martin Luther King Jr. said he had a dream that one day his four children would be judged by the content of their character, not by the color of their skin. ...Today we often value people less by their character than by the contents of their wallet. ...The pursuit of ever more financial zeros... has... produced a moral breakdown... twisting our culture and our values in ways that tear at the fabric of our society."

"[P]residents of companies have gone from apologizing when they had to lay off workers to boasting of the riches... obtained through mass firings. ...[I]nvestors ...owe their wealth ...to buying companies in deals that required destroying lives and careers"

"[S]tate and local governments alone spend at least $70 billion a year of taxpayer's money to subsidize factories, office buildings [etc.]... $900 per year for a family of four."

"People don't know... They... are so fascinated by what's going on in the White House, they're not paying attention to what matters. ...[T]he reason I hope every single one of you reads my book (and if you can't afford to buy the book, it's in the library...) is that people need to know this or we will not get change."