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Thread started 05/07/19 4:53pm

DiminutiveRock
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TRUMP'S TAXES

In the heated requests for Trump's taxes - this comes out:

BREAKING NEWS

The Times has obtained a ...5 to 1994.

Tuesday, May 7, 2019 7:00 PM EST

Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. But the newly obtained information paints a different, and far bleaker, picture of his deal-making abilities and financial condition.




hmmm Mr Art of the Deal lol

"'Were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter.'' - Thomas Jefferson
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Reply #1 posted 05/07/19 5:17pm

RodeoSchro

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Great salesman; terrible businessman.

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Reply #2 posted 05/07/19 7:11pm

poppys

DiminutiveRocker said:

In the heated requests for Trump's taxes - this comes out:

BREAKING NEWS

The Times has obtained a ...5 to 1994.

Tuesday, May 7, 2019 7:00 PM EST

Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. But the newly obtained information paints a different, and far bleaker, picture of his deal-making abilities and financial condition.




hmmm Mr Art of the Deal lol


More like Mr. Art of the Schlemiel.
See the source image

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Reply #3 posted 05/07/19 7:15pm

13cjk13

DiminutiveRocker said:

In the heated requests for Trump's taxes - this comes out:

BREAKING NEWS

The Times has obtained a ...5 to 1994.

Tuesday, May 7, 2019 7:00 PM EST

Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. But the newly obtained information paints a different, and far bleaker, picture of his deal-making abilities and financial condition.




hmmm Mr Art of the Deal lol

He's a grifting slob.

"If we had had confidence the president clearly did not commit a crime, we would have said so."
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Reply #4 posted 05/07/19 10:38pm

TweetyV6

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DiminutiveRocker said:

In the heated requests for Trump's taxes - this comes out:

BREAKING NEWS

The Times has obtained a ...5 to 1994.

Tuesday, May 7, 2019 7:00 PM EST

Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. But the newly obtained information paints a different, and far bleaker, picture of his deal-making abilities and financial condition.




hmmm Mr Art of the Deal lol


1985-1994 yawn

The man of science has learned to believe in justification, not by faith, but by verification - Thomas Henry Huxley
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Reply #5 posted 05/08/19 12:12am

luv4u

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popcorn We need to know about post 1994 taxes up to present.

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Reply #6 posted 05/08/19 12:27am

EmmaMcG

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RodeoSchro said:

Great salesman; terrible businessman.



Is he really a great salesman though? He's a known liar, which is already a damning trait in a salesman. And he's not even that good of a liar. The only people who would believe his lies are morons. Now I know that America has an awful lot of morons but even they can't be stupid enough to give this waste of space a second term? I very much doubt that the American people will be buying what he's selling when it comes to the next election.
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Reply #7 posted 05/08/19 3:49am

poppys

luv4u said:

popcorn We need to know about post 1994 taxes up to present.


https://www.bloomberg.com/news/articles/2019-05-08/trump-had-losses-of-1-7-billion-over-a-decade-nyt-reports

The losses, in the 1980s and 1990s, were greater than those reported by nearly any other American taxpayer during that period, according to Internal Revenue Service data the Times said it had reviewed. In 1990 and 1991, according to the Times report, Trump’s loses of $250 million a year were more than double those of the nearest taxpayer the IRS collected information on.

Democrats in Congress have been battling for the release of the president’s more recent returns, a clash that may likely end in court. Trump sold himself to voters as a master deal maker, who could bring the same success to the country as he did to his businesses. While he never personally filed for bankruptcy, his businesses sought bankruptcy protection four times.

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Reply #8 posted 05/08/19 3:54am

BombSquad

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TweetyV6 said:


1985-1994 yawn

ten years of proven gross incompetence by a dumb instable uneducated idiot? check.

so you suggest that this incompetence completely turned around 180 degrees after '94 with some uhhhh magic beans or something?

that is possible of course...

yet his unwillingness to release his tax returns like any other pres before him should give you a slight indication on how it REALLY went down LMFAO unless you're a total naive orange dicksucker MAGA dumbfuck yourself





[Edited 5/8/19 4:25am]

Ideally speaking, the President of the United States and the dumbest person in the country would be two different people. Oh well.... money can't fix stupid
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Reply #9 posted 05/08/19 5:03am

SuperFurryAnim
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In reality, Trump was accumulating wealth during that time. Though taxes may show a loss that is part of the game of not paying taxes being a smart businessMAN. Clinton, Obama they made money pay for play. Bush and Trump were more the stereotype businessMEN.

What are you outraged about today? CNN has not told you yet?
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Reply #10 posted 05/08/19 5:05am

SuperFurryAnim
al

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RodeoSchro said:

Great salesman; terrible businessman.

Then would you say Obama and Clinton great businessmen? ROTFLMAO!

What are you outraged about today? CNN has not told you yet?
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Reply #11 posted 05/08/19 5:37am

BombSquad

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SuperFurryAnimal said:

In reality, Trump was accumulating wealth during that time. Though taxes may show a loss that is part of the game of not paying taxes being a smart businessMAN. Clinton, Obama they made money pay for play. Bush and Trump were more the stereotype businessMEN.


translation: he steals it from honest small taxpayers right into his greedy pockets

disgusting piece of shit.

but hey, right on! as long as the small taxpayers ar so genuinly dumbed down inbred idiots that they cheer at him for robbing them then hey cool, mor power to that smelly worhless fat fuck pig, just rip them MAGA dumbfucks a new one ramming your smelly mushroom up their stinkign assholes and make them scream in pleasure over it. it works LOL

Ideally speaking, the President of the United States and the dumbest person in the country would be two different people. Oh well.... money can't fix stupid
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Reply #12 posted 05/08/19 7:08am

13cjk13

SuperFurryAnimal said:

RodeoSchro said:

Great salesman; terrible businessman.

Then would you say Obama and Clinton great businessmen? ROTFLMAO!

THEY NEVER SAID THEY WERE GREAT BUSINESS PEOPLE!!! ROTFLMAO AT THE DISGUSTING PIECE OF LYING SHIT IN THE WHITE HOUSE.

"If we had had confidence the president clearly did not commit a crime, we would have said so."
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Reply #13 posted 05/08/19 7:28am

OnlyNDaUsa

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People so full of hate, some who invent a right to know, who do not grasp how tax law works, think these returns show something they simply do not. And this is not a defence...but the truth.
Being a die-hard civil rights champion,
Being a die-hard libertarian,
Sometimes I have to defend
that which I find distasteful.
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Reply #14 posted 05/08/19 7:31am

OnlyNDaUsa

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SuperFurryAnimal said:

In reality, Trump was accumulating wealth during that time. Though taxes may show a loss that is part of the game of not paying taxes being a smart businessMAN. Clinton, Obama they made money pay for play. Bush and Trump were more the stereotype businessMEN.



The same that are mad he is not in Putin's pocket are here showing they do not grasp what is on the forms.
Being a die-hard civil rights champion,
Being a die-hard libertarian,
Sometimes I have to defend
that which I find distasteful.
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Reply #15 posted 05/08/19 7:31am

RodeoSchro

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What is he hiding?

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Reply #16 posted 05/08/19 7:34am

BombSquad

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OnlyNDaUsa said:

...who do not grasp how tax law works...

see reply #11 LOL

Ideally speaking, the President of the United States and the dumbest person in the country would be two different people. Oh well.... money can't fix stupid
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Reply #17 posted 05/08/19 7:42am

SuperFurryAnim
al

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13cjk13 said:



SuperFurryAnimal said:




RodeoSchro said:


Great salesman; terrible businessman.




Then would you say Obama and Clinton great businessmen? ROTFLMAO!



THEY NEVER SAID THEY WERE GREAT BUSINESS PEOPLE!!! ROTFLMAO AT THE DISGUSTING PIECE OF LYING SHIT IN THE WHITE HOUSE.



Agree they are not businessmen but strictly made money politically.
What are you outraged about today? CNN has not told you yet?
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Reply #18 posted 05/08/19 8:02am

2freaky4church
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This was at the height of his deal making remember? He is a huge fraud or the Times would not think this was news.

All you others say Hell Yea!! woot!
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Reply #19 posted 05/08/19 9:32am

jjhunsecker

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SuperFurryAnimal said:

In reality, Trump was accumulating wealth during that time. Though taxes may show a loss that is part of the game of not paying taxes being a smart businessMAN. Clinton, Obama they made money pay for play. Bush and Trump were more the stereotype businessMEN.



So you're OK with Trump defrauding America?
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Reply #20 posted 05/08/19 9:40am

poppys

Accumulating wealth by ripping off contractors, employees and financially trashing Atlantic City, which wasn't doing too well before he got there. All he does is exploit bubbles and then move on when they crash. Criminal con.

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Reply #21 posted 05/08/19 9:42am

13cjk13

SuperFurryAnimal said:

13cjk13 said:

THEY NEVER SAID THEY WERE GREAT BUSINESS PEOPLE!!! ROTFLMAO AT THE DISGUSTING PIECE OF LYING SHIT IN THE WHITE HOUSE.

Agree they are not businessmen but strictly made money politically.

Sure, PEANUTS compared to the flaming pig we have now.

"If we had had confidence the president clearly did not commit a crime, we would have said so."
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Reply #22 posted 05/08/19 10:07am

OnlyNDaUsa

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jjhunsecker said:

SuperFurryAnimal said:

In reality, Trump was accumulating wealth during that time. Though taxes may show a loss that is part of the game of not paying taxes being a smart businessMAN. Clinton, Obama they made money pay for play. Bush and Trump were more the stereotype businessMEN.



So you're OK with Trump defrauding America?




Do you pay more taxes than you are required to pay? Do you take credits and allowable deductions?
Being a die-hard civil rights champion,
Being a die-hard libertarian,
Sometimes I have to defend
that which I find distasteful.
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Reply #23 posted 05/08/19 11:32am

jjhunsecker

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So it's clear that there are people who have no issues with wealthy people gaming the system (created by other wealthy people) in order to get out of paying their fair share of taxes.

I'll never understand people who are obviously not wealthy supporting such methods that they themselves have no chance of ever benefiting from. What obsequiousness
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Reply #24 posted 05/08/19 11:46am

RodeoSchro

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jjhunsecker said:

So it's clear that there are people who have no issues with wealthy people gaming the system (created by other wealthy people) in order to get out of paying their fair share of taxes.

I'll never understand people who are obviously not wealthy supporting such methods that they themselves have no chance of ever benefiting from. What obsequiousness




"If we don't make the rich people richer, we're all going to lose our jobs!" - Typical GOP voter sentiment.

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Reply #25 posted 05/08/19 12:01pm

RodeoSchro

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PART 1

OK, here are my thoughts. BTW, I really find it funny that people who've never had two $100 bills to rub together feel qualified to talk tax theory, but whatever. Maybe they'll read this and learn something!

First of all, most of what we see on unrepentant serial adulterer Donald J. Trump's tax returns isn't illegal, immoral or fattening. Based on my cursory glance, he hasn't done anything that every other real estate developer in America didn't do. As a refresher, you have to remember this:

Most real estate developers never actually "make" money on their developments. they just keep refinancing them and drawing out the extra amount financed in each loan. That's their "wealth creation". It goes like this:

1. Unrepentant serial adulterer Donald J. Trump builds a building that costs $100 million. He gets investors to put up $15 million and he borrows $85 million from Deutsche Bank.

2. Unrepentant serial adulterer Donald J. Trump builds the building and earns a management fee - probably around 5%. That's all on the up-and-up.

3. Unrepentant serial adulterer Donald J. Trump finishes the building and leases it. Let's say he gets it 90% leased. He goes back to Deutsche Bank and says, "Now I have a completed building that's 90% leased up, and now it appraises for $130 million. I want to refinance it - will you lend me $115 million on this building?" The bank says yes.

4. Unrepentant serial adulterer Donald J. Trump pays his investors a nice return - let's say he pays them back $18 million, which is a 20% return. They're happy. Unrepentant serial adulterer Donald J. Trump pays back Deutsche Bank $85 million for the construction loan. So he's made payments of $103 million, meaning he has $12 million left for himself. He'll tell you he "made" that money but all he really did was get a bank to lend him his profit. He still owes the bank $115 million, you know.

5. As long as rents keep rising, unrepentant serial adulterer Donald J. Trump repeats this process as many times as he can - each time borrowing more money and pocketing the difference between what he owed on the current loan, and what he gets in funding under the new loan. Again - all he's really doing is getting a bank to lend him his "profit". And again - this is totally legal, not immoral, nor is it fattening. It's dumb on the bank's part, but that's not against the law.

6. One of two things will ultimately happen: (a) if unrepentant serial adulterer Donald J. Trump is smart, he'll sell the building, pay off his loans, and will have actually made real, non-encumbered money; or (b) if unrepentant serial adulterer Donald J. Trump is not smart, sooner or later the real estate market will crash and he won't be able to make the payments on his loan. but no worries - he'll renegotiate with the bank because the last thing the bank wants is to own an office building.

This is how real estate developers work. They are great salesmen, but generally terrible businessmen. That's why most developers aren't also operators. Unrepentant serial adulterer Donald J. Trump thought he was both a great salesman and a great operator, but he found out differently and to his credit, he changed his business model so that now he generally builds, sells, and licenses his name.

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Reply #26 posted 05/08/19 12:12pm

RodeoSchro

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PART 2 OF 2

Now, here's the part most of y'all will find more interesting. As the New York Times/Wonkette points out, unrepentant serial adulterer Donald J. Trump's interest income is...odd. To wit:


In contrast to his father's stable and profitable empire of rental apartments in Brooklyn and Queens, Mr. Trump's primary sources of income changed year after year, from big stock earnings, to a single year of more than $67.1 million in salary, to a mysterious $52.9 million windfall in interest income. But always, those gains were overwhelmed by losses on his casinos and other projects.

Mr. Trump reported $460,566 in interest income in 1986. That number grew to $5.5 million the next year, and $11.8 million the next. Then came the outlier 1989.

https://www.wonkette.com/...ion-a-year

The highest average rate paid on any CD term in 1989 was 8.83%, paid on a 1-year CD in July 1989. https://www.bankrate.com/...1984-2016/ So let's be conservative and assume that unrepentant serial adulterer Donald J. Trump invested his money at the absolute best rate for the entire year.

In order to earn $52.9 million in interest assuming a one-year annual rate of 8.83%, that means that the amount of cash - CASH - that unrepentant serial adulterer Donald J. Trump had sitting around available for investment into CDs was...

...$599,093,998. Let's round it to $600 million.

Do you think unrepentant serial adulterer Donald J. Trump had $600,000,000 sitting around for all of 1989?

Neither do I.

I hope we find out how unrepentant serial adulterer Donald J. Trump's cash balances enjoyed such an incredible increase in one year. Should be interesting!


.

[Edited 5/8/19 12:14pm]

Second Funkiest White Man in America

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Reply #27 posted 05/08/19 12:44pm

benni

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Real estate developers in the 1980’s & 1990’s, more than 30 years ago, were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases. Much was non monetary. Sometimes considered “tax shelter,” ......



....you would get it by building, or even buying. You always wanted to show losses for tax purposes....almost all real estate developers did - and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!



I'm sorry, but my utilizing deductions, etc., when filing my taxes isn't "sport", it's called legal deductions that are written into our tax codes. I had to pay my fair share and could not milk the system to get out of paying taxes. If I had, I'd be in jail. The fact that he says this is "sport" when every single middle class and poor person has had to pay their fair share and could not write off millions and millions of dollars to get out of paying taxes, just boggles my mind. It's not "sport" when middle America is paying more in taxes than a so-called "billionaire".



Secondly, I doubt very seriously if Trump had that much in losses. Keeping in mind that Cohen testified that Trump would often deflate his worth in order to decrease the amount he paid in property taxes, then it is extremely likely that Orange Fluff lied on his taxes to get out of paying them. Trump would do whatever he could to not pay any taxes because to him, "that's my money, I earned it, why should I give the government a damn cent?" Well, because I have to, and every other red blooded American has to. So I can almost guarantee that Trump lied on his taxes so that he could claim all those losses, so that he wouldn't have to pay anything to the government, and that is why he does not want people to see his taxes.

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Reply #28 posted 05/08/19 1:01pm

poppys

Carl Icahn gave him a bunch of cash, but eventually bailed. This is a great overview article.

Why Donald Trump's Companies Went Bankrupt

Details About the 6 Trump Corporate Bankruptcies

https://www.thoughtco.com/donald-trump-business-bankruptcies-4152019

[Edited 5/8/19 13:06pm]

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Reply #29 posted 05/08/19 1:40pm

jjhunsecker

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RodeoSchro said:



jjhunsecker said:


So it's clear that there are people who have no issues with wealthy people gaming the system (created by other wealthy people) in order to get out of paying their fair share of taxes.

I'll never understand people who are obviously not wealthy supporting such methods that they themselves have no chance of ever benefiting from. What obsequiousness




"If we don't make the rich people richer, we're all going to lose our jobs!" - Typical GOP voter sentiment.



Again, I have to say that the GOP was masterful in their messaging: they convinced millions of their voters- some of whom are lucky if they have $90 in the bank- that it's in America's best interest to have millionaires and billionaires pay little to no taxes! Genius, sheer genius
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