[EpicEng]

>Case in point is Mr. Trump who has declared bankruptcy multiple times without having any impact on his personal worth. This is just nuts

So... if that weren't possible, how do you think it would affect the rate at which businesses are created? Let's say you want to start a business, but if you hit hard times and need to fold, you are _personally_ liable for any debt? Would you start that business, knowing that your financial life could easily be destroyed for the next 30 years? If you _did_ decide to start that business, do you think you'd want to grow at anything more than a snail's pace (if at all)?

[drieddust]

If that is the case then why business owners should be compensated handsomely when they succeed? while they reap the benefits of success ,failure should be owned by society?

I am not saying personal financial position should be destroyed but if you are a multimillionaire already why your failures should be outsourced to society?

And as far as growth is concerned, what's wrong with growing slowly? Cancer too is growth, it's just uncontrolled.

Coming to Trump, he repeatedly failed doing the same type of business.

[Fjolsvith]

I would argue that being a multimillionaire doesn't actually count as failing.

[dkersten]

https://www.washingtonpost.com/politics/2016/live-updates/ge...

According to this Washington Post article, he filed for Chapter 11 a number of times. You argue that being super rich doesn’t count as failing, quite from the article “Trump Hotels and Casinos Resorts filed for bankruptcy again in 2004, after accruing about $1.8 billion in debt.“, which sounds like a failure to me. Trump seems to be good at wiping out other people’s money while protecting his own.

[Fjolsvith]

Actually, you mis-read that. His companies filed for bankruptcy, not himself personally. I don't count that as the guy failing.

[Fjolsvith]

Lets say that you own stock in a company that goes bankrupt. Sears, for example. Does that qualify you as a failure? Besides, I would wager that President Trump owned a lot more successful companies than failed companies.

[drieddust]

It not that simple. Excerpt from New York times sheds some light onto his morality and what he actually did [1]. I have used him as an example only. My point is that corporate world is filled with many such examples much more sinister than Trump.

> The New York Times, which conducted an analysis of regulatory reviews, court records and security filings, found otherwise, however. It reported in 2016 that Trump "put up little of his own money, shifted personal debts to the casinos and collected millions of dollars in salary, bonuses and other payments."

"The burden of his failures," according to the newspaper, "fell on investors and others who had bet on his business acumen."

[1] https://www.thoughtco.com/donald-trump-business-bankruptcies...

[Fjolsvith]

That's the purpose of a corporation. You encapsulate the risk and enterprise inside the legal structure. If the corp goes under, then only the assets of the corp are hit. Your personal property isn't affected, other than perhaps your shareholdings in that corporation become worthless.