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#329175 - 09/28/20 05:48 PM the Trump Taxes
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 3686
Loc: Port Angeles, WA
the NYT has a story showing the trump tax returns for years. Seems he lost a LOT of money. I know about his golf courses losing money but it was a lot worse than that. I have been claiming for years that Trump is the worst businessman in the United States but, now, they are saying the worst in the entire world!

There are also, now, many saying that he has something more than 300,000,000.00 worth of debt coming due next year. Add in that his personal income, during his administration is something more than 1 billion dollars, which seems to have gone up in smoke its gonna get interesting. Add in that, apparently, he is in debt to foreigners and foreigners have also been supporting his businesses. For instance, the Saudis have paid big bucks for rentals and leases that they don't use. Seems there is a lot of that going on too (some might call it bribery).

All in all we have a businessman loser, is hugely in debt, has lost huge amounts of money, is taking bribes and, evidently, selling favors for bucks.

Gotta say, it just gets better and bigger every day! So, now, we have a senate peopled with Republicans that are dedicated to, basically, a failed businessman criminal.

I heard one tv talking head say he thought that Trump is the greatest conman of all time!

Interesting times.............


Edited by jgw (09/28/20 05:49 PM)

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#329176 - 09/28/20 06:28 PM Re: the Trump Taxes [Re: jgw]
pdx rick Offline
Member
CHB-OG

Registered: 05/09/05
Posts: 43449
Loc: Puget Sound, WA

Teachers paid $7,239 in taxes
Firefighters paid $5,283 in taxes
Nurses paid $10,216 in taxes

Donald Trump paid $750.

Wall Street vs Scranton. Average people can't afford clever accountants to hide assets to pay less taxes.
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#329178 - 09/28/20 06:41 PM Re: the Trump Taxes [Re: jgw]
pdx rick Offline
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CHB-OG

Registered: 05/09/05
Posts: 43449
Loc: Puget Sound, WA


Turns out that Princess Brokeass pays $70K a year to get her "hair" done. That thing on her head costs $1,346 a week to maintain?!?

LOL ROTFMOL LOL
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#329181 - 09/28/20 09:08 PM Re: the Trump Taxes [Re: pdx rick]
NW Ponderer Online   sad
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Carpal Tunnel

Registered: 09/09/11
Posts: 17440
Originally Posted By: pdx rick

Teachers paid $7,239 in taxes
Firefighters paid $5,283 in taxes
Nurses paid $10,216 in taxes

Donald Trump paid $750.

Wall Street vs Scranton. Average people can't afford clever accountants to hide assets to pay less taxes.
That, I think, is the most salient point about this story.

We know he's an unprincipled liar - on every topic under the sun, but there is some level of pure criminality that may actually resonate. I think he's going to have the opportunity to continue to live on the State's dime for the foreseeable future. His new color scheme won't even change, it's just that the orange will cover more than his face.

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#329182 - 09/28/20 09:10 PM Re: the Trump Taxes [Re: pdx rick]
Greger Offline


Carpal Tunnel

Registered: 11/24/06
Posts: 17390
Loc: Florida
Quote:
Average people can't afford clever accountants to hide assets to pay less taxes.


Of course they can! Every business owner uses accountants for that very reason. If by "average people" you mean his employees then no, they have no need of accountants. But most business owners are just average guys. Back before computers I had to keep accurate ledgers which had to be delivered to the accountant quarterly and shown to various auditors upon request.
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#329183 - 09/28/20 10:50 PM Re: the Trump Taxes [Re: jgw]
pondering_it_all Offline
veteran

Registered: 02/27/06
Posts: 10477
Loc: North San Diego County
My returns have included farm operations, residential rentals, and various businesses run as sole proprietorships. There are some large tax benefits in these activities. Having a large loss that offsets income in later years is not illegal, or even unethical. Many business do not start and then end within a single calendar year!

What is going to send Trump to prison is overstating value of assets for bank loan applications and understating their value for tax purposes. People DO go to prison for this for relatively small valuations. He's done it in the 100 million dollar range! The other big no no, is trying to conceal his bimbo payoffs by shifting money around and claiming they were for something else. That fits the classic definition of money laundering. And people DO go to prison for that.

One interesting fact is that both of these took place before he was President, so any sort of immunity claim on the state level is baseless for several different reasons.

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#329191 - 09/29/20 12:10 AM Re: the Trump Taxes [Re: pondering_it_all]
Greger Offline


Carpal Tunnel

Registered: 11/24/06
Posts: 17390
Loc: Florida
You've been telling me for years now that Trump is gonna go to jail. And I'm gonna keep saying no, he aint.

He's going to Mar-A Lago and will likely be dead before Biden's first and only term is up.

But I'm thinking he's actually got a better chance of winning re-election than he has going to jail.
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#329198 - 09/29/20 03:58 AM Re: the Trump Taxes [Re: jgw]
pdx rick Offline
Member
CHB-OG

Registered: 05/09/05
Posts: 43449
Loc: Puget Sound, WA

Brother? Can you spare a couple of dimes? Donald Trump seems to be broke.

smile
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#329199 - 09/29/20 04:11 AM Re: the Trump Taxes [Re: jgw]
pdx rick Offline
Member
CHB-OG

Registered: 05/09/05
Posts: 43449
Loc: Puget Sound, WA

While Melanie Tramp was re-negotiating her pre-nup in 2017, Ivanky was getting $750K in "consulting fees."


Melanie loses again. smile
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#329201 - 09/29/20 06:30 PM Re: the Trump Taxes [Re: jgw]
jgw Offline
enthusiast

Registered: 05/22/06
Posts: 3686
Loc: Port Angeles, WA
It just gets better and better as time goes on. If he leaves office he has a large number of law suits he will have to deal with as well as state and federal stuff. There is something like 40 suits from contractors he never paid, a bunch more to do with women he has done wrong to. Then there are the debtors now, I think, to the tune of 420 Million dollars (about the amount daddy gave him which he worked, very hard, to lose)

One can only wonder if he is really going to stick around for all of this attention. If not then where does he go? Won't be Russia, he will have done everything he can for them and, I suspect, will want nothing to do with him. I think he has an island in the Bahamas (or someplace down there) but some of the people suing him are REALLY angry and are, probably, not above finding him and doing him in.

Just gets better and better. I will REALLY be upset if he wins the next election! Not fair! I can also understand just why he wants to stay in office!

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