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Trump tax records. - A Billion in losses.


DrP
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So he finally revealed his tax records. 

https://www.nytimes.com/interactive/2019/05/07/us/politics/donald-trump-taxes.html?fbclid=IwAR2CiXhc1rA2Lpo5lwLLcBB1_o--jWoXH5MgbKx3sT9SnDzy14oy8O5ZWIs

Do those that voted for him still have his confidence seeing as his campaign was all about what a great business man he was? 

Maybe his father left him a note like the one from 'Brewster's Millions'. 

 

 

 

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Just now, swansont said:

No, he did not. They were obtained, not released.

OK - Thanks - that actually makes a lot more sense than him choosing to show the world his incompetence.

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1 hour ago, DrP said:

Maybe his father left him a note like the one from 'Brewster's Millions'. 

LOL. I love this movie!

Quote

Trump tax records. - A Billion in losses.

...you're under impression that what has been shown on these papers is objective truth.. but it might not be the case.. ;)

(compare official statements of some worldwide politicians versus what is found later by independent investigation and/or independent media, what I mean)

 

Edited by Sensei
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43 minutes ago, DrP said:

So he finally revealed his tax records. 

These are just the ones that show he's incompetent as a businessman, compared to others in his wealth bracket. The records that could show his involvement with foreign actors (selling a $40M home to a Russian oligarch for $100M) and his charitable contributions (or lack thereof) are the ones he's always refused to release.

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39 minutes ago, Phi for All said:

These are just the ones that show he's incompetent as a businessman, compared to others in his wealth bracket. The records that could show his involvement with foreign actors (selling a $40M home to a Russian oligarch for $100M) and his charitable contributions (or lack thereof) are the ones he's always refused to release.

He does not release anything that he can get away with not releasing. Actually seeing his finances laid bare would reveal how much of his business is based on fraud and deception (remember how Trump faked to be someone else to praise himself to Forbes?). The major question is whether only his father bailed him out or also someone else.

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56 minutes ago, Phi for All said:

These are just the ones that show he's incompetent as a businessman, compared to others in his wealth bracket. The records that could show his involvement with foreign actors (selling a $40M home to a Russian oligarch for $100M) and his charitable contributions (or lack thereof) are the ones he's always refused to release.

The only set he's released (AFAIK; I think he released or leaked them) are for the year before Melania got citizenship, when they got married. They had to be in good shape for the immigration review.

https://freebeacon.com/politics/maddow-claims-trumps-2005-tax-returns-had-to-be-sterling-so-that-melania-could-become-a-citizen/

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1 minute ago, swansont said:

The only set he's released (AFAIK; I think he released or leaked them) are for the year before Melania got citizenship, when they got married. They had to be in good shape for the immigration review.

https://freebeacon.com/politics/maddow-claims-trumps-2005-tax-returns-had-to-be-sterling-so-that-melania-could-become-a-citizen/

Since he seems fairly bulletproof when it comes to his lies being uncovered, I don't think he's worried about his lack of charitable contributions coming out. His base still thinks he's a good businessman because of his assets (they see a forest instead of a bunch of diseased trees), so there's little there to harm him. I can't believe he's willing to risk so much speculation just to avoid a little bad press, so there must be something in his returns that he greatly fears being made public. What else could it be besides shady dealings with Russia? Collusion seemed to be the issue he always wanted to downplay. 

I think he realizes corruption can be dealt with as long as it's within your own country. The POTUS owing favors to an adversarial foreign government may be the line even he can't cross. He has an unprecedented level of ongoing, unfettered corrupt behavior because he keeps hinting his base will revolt if he's held accountable, he has a grip on the for-profit media, and because the GOP benefits from some of his rabid racism. Remember, when he heard a special counsel had been appointed to investigate him, his reaction was "I'm fucked!" Even HE expected it to end his presidency. 

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Just now, Phi for All said:

His base still thinks he's a good businessman because of his assets

Yea - even FOX news complimented him on his 'genius' accounting - choosing to make a loss year after year so as to avoid having to pay any tax. I am not sure I fully follow the genius of it myself... FOX said it so it must be true - I'll just take their word for it as I am no expert on tax dodging or filing losses of hundreds of millions.  :rolleyes: 

 

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3 minutes ago, DrP said:

Yea - even FOX news complimented him on his 'genius' accounting - choosing to make a loss year after year so as to avoid having to pay any tax. I am not sure I fully follow the genius of it myself... FOX said it so it must be true - I'll just take their word for it as I am no expert on tax dodging or filing losses of hundreds of millions.  :rolleyes: 

Extremist capitalism encourages avoiding taxes by any means. They like it when corruption is considered part and parcel of the process.

5 minutes ago, dimreepr said:

Has its price...

I disagree, both with your conclusion and your style of chopping up replies. 

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15 minutes ago, DrP said:

Yea - even FOX news complimented him on his 'genius' accounting - choosing to make a loss year after year so as to avoid having to pay any tax. I am not sure I fully follow the genius of it myself... FOX said it so it must be true - I'll just take their word for it as I am no expert on tax dodging or filing losses of hundreds of millions.  :rolleyes: 

 

Losing $8,999/minute is a small price to pay to own the libs.

Not to worry though, they'll recoup it from evil socialist entitlements like our grandmother's medicine and child's school and call it a win for capitalism and democracy.

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57 minutes ago, Phi for All said:

Since he seems fairly bulletproof when it comes to his lies being uncovered, I don't think he's worried about his lack of charitable contributions coming out. His base still thinks he's a good businessman because of his assets (they see a forest instead of a bunch of diseased trees), so there's little there to harm him. I can't believe he's willing to risk so much speculation just to avoid a little bad press, so there must be something in his returns that he greatly fears being made public. What else could it be besides shady dealings with Russia? Collusion seemed to be the issue he always wanted to downplay. 

I think he realizes corruption can be dealt with as long as it's within your own country. The POTUS owing favors to an adversarial foreign government may be the line even he can't cross. He has an unprecedented level of ongoing, unfettered corrupt behavior because he keeps hinting his base will revolt if he's held accountable, he has a grip on the for-profit media, and because the GOP benefits from some of his rabid racism. Remember, when he heard a special counsel had been appointed to investigate him, his reaction was "I'm fucked!" Even HE expected it to end his presidency. 

I think that certain real estate dealings, involving the Russians, are things he wants to keep out of sight. They would need to be explained in some way other than "I was laundering money"

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31 minutes ago, swansont said:

I think that certain real estate dealings, involving the Russians, are things he wants to keep out of sight. They would need to be explained in some way other than "I was laundering money"

And it appears his strategy for dealing with this is distraction. His direction to ignore congressional subpoenas takes focus away from this and puts it instead on constitutional crises, plus military movements into Iran and Venezuela.

It's as if he's distracting us from a murder he committed by setting the house on fire. All we can see is the burning house... Swarm of bees strategy... We keep swatting at each individual bee while they walk out the house behind us carrying our valuables and jewelry.

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1 hour ago, rangerx said:

Losing $8,999/minute is a small price to pay to own the libs.

Not to worry though, they'll recoup it from evil socialist entitlements like our grandmother's medicine and child's school and call it a win for capitalism and democracy.

There is an element of truth in some of the responses to the story. If you are depreciating an asset, it's a paper loss, not a cash loss.

But the fact that he declared bankruptcy —six instances, four of which occurred in the window of this story — tells us that these were not all paper losses. That was real money he owed people and could not pay.

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9 minutes ago, swansont said:

There is an element of truth in some of the responses to the story. If you are depreciating an asset, it's a paper loss, not a cash loss.

But the fact that he declared bankruptcy —six instances, four of which occurred in the window of this story — tells us that these were not all paper losses. That was real money he owed people and could not pay.

In addition the report indicated that assets were turned over to lenders prior to declaring bankruptcy, indicating that he was making substantial losses leading up to the various bankruptcies.

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3 hours ago, swansont said:

There is an element of truth in some of the responses to the story. If you are depreciating an asset, it's a paper loss, not a cash loss.

But the fact that he declared bankruptcy —six instances, four of which occurred in the window of this story — tells us that these were not all paper losses. That was real money he owed people and could not pay.

...or felt paying could be legally avoided.

Did he actually declare personal bankruptcy at any point? ...or simply declare a limited liability company, that he owned, bankrupt?

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28 minutes ago, J.C.MacSwell said:

...or felt paying could be legally avoided.

Did he actually declare personal bankruptcy at any point? ...or simply declare a limited liability company, that he owned, bankrupt?

Just his LLCs, I gather. However, he's quite notorious for reneging on contracts or getting them over a barrel and reducing the payment previously agreed to.

His word isn't worth shit. He's underhanded and greedy.

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37 minutes ago, J.C.MacSwell said:

...or felt paying could be legally avoided.

Did he actually declare personal bankruptcy at any point? ...or simply declare a limited liability company, that he owned, bankrupt?

He has not declared personal bankruptcy. However, according to the NYT article his companies were set up as partnerships. As mentioned, he had to turn over personal assets, including his yacht, stocks etc. to pay off lenders. (He did manage to avoid personal bankruptcy seemingly by various windfalls that are somewhat unexplainable, but that may be a separate question).

But even before the NYT report came out, it was known that Trump had to sell off personal assets as part of the agreement with lenders which shows that he actually had to pay. I.e. the bankruptcy declarations were not a way to avoid personal liability (again, as the businesses were not set up as LLCs to begin with).

 

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2 hours ago, J.C.MacSwell said:

...or felt paying could be legally avoided.

Did he actually declare personal bankruptcy at any point? ...or simply declare a limited liability company, that he owned, bankrupt?

LLCs, AFAIK. Relevant to discussing his business acumen 

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