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Trump's Taxes

knapplc

By knapplc,
in Politics & Religion

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TGHusker Offensive Coordinator

TGHusker

Posted
Posted
43 minutes ago, BigRedBuster said:

This is true.  One thing about this is, you can't do it for eternity and they have to be legitimate losses.

 

 

In Trump's criminal mind - it is just "sport" -  a game.  It is never about doing the 'right thing' but how one can bend, break, ignore the law and the sport of always being one step ahead of the posse.  

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NM11046 All-American

NM11046

Posted
Posted
2 hours ago, BigRedBuster said:

 

Knapp basically said what I think has to have happened. Also, I'm pretty sure it would all be hidden behind corporations and LLCs.  

 

 

Wasn’t Michael Cohen in charge of creating and hiding LLCs in Delaware and other states for Trump?   

 

I think its it’s no coincidence that this came out of an NYC paper the day Cohen went to prison.   I’m guessing lots more “documents” find their way into good reporters hands in the coming weeks and months.  

 

This is just the tip of the iceberg. With every slight he and his family do to others they create more enemies.  Soon there will be ex wives and lawyers for the kids and etc popping up.

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Fru Travel Squad

Fru

Posted
Posted
4 hours ago, BigRedBuster said:

 

I heard someone interviewed about this this morning. (I believe it was one of the NYT reporters)  Yes, what he described by recording losses is legitimate.  However, that strategy is just a very small part of these losses.  Most of these losses are other people's money.  Investors, bond holders, banks....etc. that didn't get paid.  Remember, he has said many times how he gets into debt and then renegotiates.  HE bragged about it in the campaign as how he would take care of the national debt.  KING OF DEBT!!!!  Well, that's this.

 

So, from what I'm gathering, He talked investors, bond holders and banks into investing billions in these projects.  He then goes broke showing that loss.  These people don't get paid and the Russians come in and save his butt.  What I'm not understanding is why the investors, banks and bond holders couldn't latch onto the Russian money.  But....it's possible with the mafia and good lawyers on your side, they really didn't want to push the issue.  

 

Wouldn't it just be easier to not be a sh!tty business man? 

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BigRedBuster Legend

BigRedBuster

Posted
Posted
6 minutes ago, Fru said:

 

Wouldn't it just be easier to not be a sh!tty business man? 

Well, if he's an honest "not s#!tty" business man, he can't go as far as faking being the richest man in the world.....master negotiator.....TV star firing people....living the life styles of the rich and famous.  He would just be like a million other schmucks that make a decent and honest living.

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ZRod Offensive Coordinator

ZRod

Posted
Posted
1 minute ago, knapplc said:

But Trump had an entire foundation dedicated to his charitable works.

 

 

 

Maybe that's why the courts ordered the charity shut down last year?

 

¯\_(ツ)_/¯

Why would he? It would be pittance compared to the deductions he's already received from his debt.

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TGHusker Offensive Coordinator

TGHusker

Posted
Posted

SPIN SPIN SPIN SPIN  :movegoalpost::movegoalpost::movegoalpost::movegoalpost:

When you are a member of the CULT OF TRUMP you lose your ability to think clearly as evidence here. The Trump news agency, formally known a FoxNews, does cover for Trump on Fox and Friends:

 

https://www.yahoo.com/lifestyle/fox-friends-showers-trump-praise-133956103.html

 

Quote

 

The hosts over at Fox & Friends have spent their morning gushing with praise for Donald Trump after The New York Timesrevealed records showing that he lost over $1 billion over a ten-year period.

The president’s most loyal newscasters tried very hard to find a way to put a positive spin on the numbers that showed that Trump lost a total of $1.17 billion from 1985 to 1994—so much that he was able to avoid paying income taxes for eight of the 10 years, according to the report.

“If anything, you read this and you’re like ‘Wow, it’s pretty impressive, all the things that he’s done in his life,’ said breathless host Ainsley Earhardt. “It’s beyond what most of us could ever achieve.”  (TG: Yes I always had a dream that I could lose a billion $$s Ms Earhardt. I just haven't figured it out yet. :blink:)

In a way, she’s right that Trump’s efforts were unmatched at the time. In 1990 and 1991, Trump reported losses of more than $250 million—more than double that of any other high-income individual U.S. taxpayer for those years, according to calculations from the Times.

Co-host Brian Kilmeade chipped in: “He lost a lot of money over the course of 10 years, if you consider a billion dollars a lot of money.”  (TG: I don't know Kilmeede, what do you consider to be a lot of money :facepalm:)

Kilmeade went on to argue that the numbers make sense when you consider that Trump is a “bold businessman,” and that the numbers simply were simply a “chronicle” of an adventurous risk-taker.

“It’s as if you buy something and it doesn’t pay out right away or ever you’re a loser,” he said. “No, you take shots, you have an opportunity to do things, that’s the way you live. The reason why we all knew Donald Trump’s name is because for 30 years that’s what he did... What do people not understand about he’s a little bit different from most people?”(TG: YOU THINK! - wished the voters in Wisc, Mich, and Penn had figured that out prior to the election. )

In his own defense of his business record Wednesday morning, Trump insisted that his suffering of more than $1 billion in business losses was actually part of his plan all along. He argued that his losses created a “tax shelter,” which “almost all real estate developers did” at the time. (TG: Is that what you taught @ Trump University - Oh, that is right Trump U failed too.  I guess you read your own text books)

 

 Seriously folks - we need the next 2 decades of his returns.   If I was a betting man, I'd bet Trump's fortune (fake or otherwise) that the only thing keeping him a float and out of the poor house was his connection to the Russian mafia.   They are using him as their Manchurian candidate as we speak - he is a puppet on Putin's string.

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NM11046 All-American

NM11046

Posted
Posted
36 minutes ago, funhusker said:

My understanding it would just be his state returns.  But since he was headquartered there, it could be a substantial amount of information.

I heard that in NY your federal taxes are submitted with state.  Haven't done any research to see if that is true yet.

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TGHusker Offensive Coordinator

TGHusker

Posted
Posted

NYT doubles down on Trump taxes and the right of the public to see his recent returns.

 

https://www.nytimes.com/2019/05/08/opinion/trump-taxes.html

Quote

 

President Trump owes the American people a fuller account of his financial dealings, including the release of his recent tax returns, because politicians should keep their promises, because the public deserves to know whether his policies are lining his pockets and because the integrity of our system of government requires everyone, particularly the president, to obey the law.

Mr. Trump promised to release his tax returns before his presidential campaign and in the early stages of that campaign, then reneged, offering a long series of inconsistent excuses for breaking his promise. Now Mr. Trump is resisting the lawful request of the House Ways and Means Committee for the Treasury secretary to release the last six years of his tax returns.

In seeking the president’s returns, the House is clearly acting in the public interest.

 

 

 

Quote

 

The tax returns could also be used to verify the accuracy of the financial disclosures, or at least to check whether Mr. Trump’s returns are consistent with those disclosures.

Mr. Trump, for example, omitted from his 2017 disclosure his obligation to repay Michael Cohen for the $130,000 payment Mr. Cohen made on his behalf to the pornographic film actress Stormy Daniels. That was before The Wall Street Journal first reported the debt. The following year, Mr. Trump reported on his disclosure that he had repaid Mr. Cohen.

And the returns could shed light on some mysteries. In the decade before he became president, Mr. Trump went on a $400 million shopping spree, paying cash for real estate around the world — a binge first reported by The Washington Post. It was a marked break from Mr. Trump’s longstanding habit of using other people’s money, and it remains unclear where Mr. Trump got the money, and why he decided to spend it.

The returns also could help to clarify whether Mr. Trump continues to cheat on his taxes. The Times has previously reported that Mr. Trump engaged in fraud to avoid taxation during the 1990s. In requesting Mr. Trump’s tax returns, the House has said it seeks to evaluate whether he is being properly audited by the Internal Revenue Service, which audits all presidential returns as a matter of policy. It has asked for the last six years of the president’s personal tax returns — the period likely still subject to an I.R.S. audit — and tax information for eight of Mr. Trump’s businesses.

The congressional effort to obtain Mr. Trump’s returns is a second-best solution. The House committee would be able to evaluate the information, but not to share the returns with the public. Similarly, a bill passed by the New York State Senate on Wednesday would allow New York to release Mr. Trump’s state tax returns to select congressional committees, but not to the public.

The best answer remains for Mr. Trump to keep his promise and release his returns voluntarily. But unless and until he does so, Congress can and must force the issue.


 

 

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