Sketch Guy: Spending More Just to ‘Save’ Money Is a Self-Defeating Strategy


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Carl Richards

Just over a week ago, we learned that in 1995 Donald Trump “claimed almost a billion dollars in operating losses that could be used to avoid future federal income taxation.” On Sunday night during the presidential debate, he bragged about his tax expertise.

So let me just clear up something that should be obvious to most people. A net operating loss of $916 million in one year isn’t a good thing. This is true even if he was losing other people’s money. And it’s true even if it did “wipe out more than $50 million a year in taxable income over 18 years.” It doesn’t make Mr. Trump a genius.

But I bring it up here because this kind of talk does reflect the thinking I’ve seen countless people use to justify spending (or losing) money. They think it actually saves them…



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