Lol I love the internal conflict that America has with holding white people accountable as a group and individual. The storyline shouldn’t be Trumps response!! His lack of response is sinister when the real storyline is that he incited and his people funded the shit.

1/Today's @bopinion post is about Trump's taxes, and what they show about how America allocates capital.

We appear to have some big problems.

2/Trump has a bunch of businesses that lose money. Our financial system has lent him money to throw into unsuccessful golf courses, hotels, and so

3/A lot of these loans are loans that Trump hasn't even paid back yet, using loopholes in the tax system to avoid paying taxes on those unpaid debts.

Why would creditors give money to a guy who wastes the money on bad businesses and doesn't even pay them back?

4/One seemingly obvious answer is that capital is just really cheap these days. Companies are able to borrow more easily than at any time in the last few decades.

5/But this presents us with a mystery.

Why hasn't an abundance of cheap capital caused the return on financial capital to fall? Interest rates are low, but stock returns have held up strongly.

The media issue a scathing, well-documented look at how much money US Catholic dioceses raked in under Trump's pandemic relief initiative, and watch the response in Catholic circles, Catholic media, among many Catholic laity. /1

It's a variant of the VERY SAME response used repeatedly by Catholic leaders to exonerate top-level responsibility for priests abusing minors and going unpunished.

The typical gambit now being used to justify the lavish feeding at the Trump trough: /2

Well, maybe dioceses were grabby and did not need all that money — look at the assets they're sitting on already — but poor, struggling parishes needed that money.

As if a parish is somehow disconnected from a diocese …. As if a parish is not integrally tied to a diocese. /3

As I say, this is a variant of the argument often advanced by Catholic leaders to justify doing nothing when a priest is known to be abusing minors: Well, he's only a hired employee on a contract. What does he have to do with us, with the bishop, with the chancellor? /4

The whole Catholic governing system is set up in a way that totally integrates parishes with dioceses. No parish and no parish priest can possibly function with independence from diocesan structures. Let a parish/parish priest try that, and see how quick the reprisal is. /5