How about our great President!!!
- Thread starter Mafesto
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Can this moron say anything coherent? All it does is cause more problems when he tries to justify his conspiracy theory nonsense. Just quit already you dunce.
But then these whack jobs try to paint this picture. Trump is going to get slaughtered by Biden in the debates. Not that it matters to Trumptards and Republican lifers. Blinders keep them from seeing the obvious. Trump is the demented one.
You think Biden can formulate a thought and turn it to a coherent sentence well enough to win a debate?
I wonder if DJT will tell Americans how they can all avoid paying taxes also. I mean it would only be fair.
He spent more money to pay off Stormy Daniels than he spent on taxes in the past 15 years. Seems that transaction didn't go to plan.
He spent more money to pay off Stormy Daniels than he spent on taxes in the past 15 years. Seems that transaction didn't go to plan.
It is fair. We are all subject to the same taxation laws.
Are you implying that his people wrote the laws to benefit him?
Or are you implying that he's not abiding by the tax codes?
Or exactly what are you implying?
Since people will hit the i don't care he is a smart businessman button. Let's dive into the revelations a little deeper:
* Trump has basically no liquid assets. He has pretty much sold all his stock assets in order to pay off debt, and any time he got money from other sources (such as the apprentice) he used it as a down payment on loans to buy more property. Most of this property is underwater, taking out more and more debt to make payments. It would not surprise me if his net worth is close to being negative.
* He has been paying his family members "consulting fees" in the range of tens-hundreds of millions of dollars and writing those off as loses, which is pretty much the same thing his daddy did with him.
* Most of his newer businesses, i.e. the golf courses and new real estate projects since 2005 (when he went on a buying splurge with the apprentice money) have consistently lost money before depreciation (the excuse he uses) was even taken into account. His few actually profitable businesses were generally inherited from his father or are from Trump Tower (which is already paid for and as a large building in Manhatten makes good money on rents).
* There is a bunch of shady dealings with lobbyists using exorbitantly priced rooms/venues from his company for basically no reason. This is even more extensive than previously thought.
* His ass got saved by Obama's recession relief package. It allowed him to carry back loses further than two years, which netted him a much needed ~$70 million refund. In addition it allowed him to defer paying taxes on canceled loans from the recession (which are normally taxed as income) until 2014, which would have pushed his business under if he had to eat those taxes during the recession.
* The audit he is currently under is related to the above. To claim the refund from 2005-2007 he used him abadoning his stake in his Atlantic casinos to count as his loss. However in the tax code you can only do this if you receive nothing else from the business or bankruptcy, but he received a 5% stake in the restructured company after the bankruptcy, meaning all those refunds+interest would come due (~100 million dollars).
Small note on where the NYT is getting this from, it seems they got most of the tax information from someone high up in the Trump Organization, as they do not have Trump's full personal finances, just which business losses he was claiming for those finances. That being said, something like 95% of Trumps assets are in the Trump Organization, so this is a distinction without much of a difference. It really means all we are missing is an actual approximation of his net worth.
TL
R- The Trump Organization is a giant Rube-Goldberg machine juggling a bunch of flaming chainsaws, passing debt around and declaring losses while stuffing the few profits into tax havens to keep the business afloat, and virtually every business venture Trump has gotten into has failed and is underwater, and when that debt comes due he is screwed.
* Trump has basically no liquid assets. He has pretty much sold all his stock assets in order to pay off debt, and any time he got money from other sources (such as the apprentice) he used it as a down payment on loans to buy more property. Most of this property is underwater, taking out more and more debt to make payments. It would not surprise me if his net worth is close to being negative.
* He has been paying his family members "consulting fees" in the range of tens-hundreds of millions of dollars and writing those off as loses, which is pretty much the same thing his daddy did with him.
* Most of his newer businesses, i.e. the golf courses and new real estate projects since 2005 (when he went on a buying splurge with the apprentice money) have consistently lost money before depreciation (the excuse he uses) was even taken into account. His few actually profitable businesses were generally inherited from his father or are from Trump Tower (which is already paid for and as a large building in Manhatten makes good money on rents).
* There is a bunch of shady dealings with lobbyists using exorbitantly priced rooms/venues from his company for basically no reason. This is even more extensive than previously thought.
* His ass got saved by Obama's recession relief package. It allowed him to carry back loses further than two years, which netted him a much needed ~$70 million refund. In addition it allowed him to defer paying taxes on canceled loans from the recession (which are normally taxed as income) until 2014, which would have pushed his business under if he had to eat those taxes during the recession.
* The audit he is currently under is related to the above. To claim the refund from 2005-2007 he used him abadoning his stake in his Atlantic casinos to count as his loss. However in the tax code you can only do this if you receive nothing else from the business or bankruptcy, but he received a 5% stake in the restructured company after the bankruptcy, meaning all those refunds+interest would come due (~100 million dollars).
Small note on where the NYT is getting this from, it seems they got most of the tax information from someone high up in the Trump Organization, as they do not have Trump's full personal finances, just which business losses he was claiming for those finances. That being said, something like 95% of Trumps assets are in the Trump Organization, so this is a distinction without much of a difference. It really means all we are missing is an actual approximation of his net worth.
TL
R- The Trump Organization is a giant Rube-Goldberg machine juggling a bunch of flaming chainsaws, passing debt around and declaring losses while stuffing the few profits into tax havens to keep the business afloat, and virtually every business venture Trump has gotten into has failed and is underwater, and when that debt comes due he is screwed.Basically if this dummy would have just invested in stocks and not terrible real estate decisions he might actually be mega rich. Too bad he never learned anything useful from Fred Trump except how to cheat on taxes.
Yeah Hillary called him out on him owing hundreds of millions in 2016. Biden is gonna slaughter this con man
Quit trying to change the subject lol
Dude is a scam artist and so many people fell for his scam. Gonna take a little bit to digest. I get it. I remember when I believed in Santa Claus as well. That fat bitch didn't eat the cookies I left out for him. Deadbeat Dad was behind it all along.
Dude is a scam artist and so many people fell for his scam. Gonna take a little bit to digest. I get it. I remember when I believed in Santa Claus as well. That fat bitch didn't eat the cookies I left out for him. Deadbeat Dad was behind it all along.
Oh classic russian bot memes. Now do the anti socialist and liberal stuff. I want to really feel like a scared Boomer. Oh no my taxes!! How will I take my money and guns with me when I die? Why doesn't (insert politician here) care about America? It isn't fair!
