Betting on Bureaucracy ... The Donald Trump Way
Real estate mogul Donald Trump thinks we're on the verge of a new era of Big Government ... and he's planning to profit from it.
He's bought an 800-acre golf club outside of Washington D.C.
"The reason I did it is I see Washington as the only growing place in the United States," Trump said during an interview on CNBC. "I mean they are going to own the banks... they are going to own the car companies. They are going to own everything."
The development is the Lowes Country Club on the Potomac River just outside of Sterling, Va. According to the Washington Post, the 800-acre club has been on the market since last summer. The newspaper reported that the seller was the Chevy Chase Bank and the price was about $18 million.
"I've been after this for so many years and I just did the deal," Trump said.
In his interview Trump, while noting the Obama budget opened the door for his Virgina golf club to take off, also expressed displeasure with the overall fiscal strategy. The tax proposals would make it very difficult for the wealthy, he said, which would have detrimental effect on investment and national spending levels, he said.
"You don't raise taxes at a time like this," he opined.
He also took exception to the proposal to curtail tax deductions for mortgage interest payments.
"When you take mortgage deduction away in the middle of the worst hosuing crisis probably ever ... it certainly doen't seem to make sense on the face of it," he said.