NY Times Gets a decade of Trumps Tax Figures

[hal2kilo]

It's amazing what someone can get away with when they can buy an army of high priced lawyers, isn't it? Especially when they're paying the legal bills with the plaintiff's money.

It's all about OPM when you're an operator like Trump.

 

[Starbuck1975]

Always the liberal medias fault. Same old bothsides play.

lol. NBC as in the network that signed Trump for the Apprentice. Has nothing to do with the “liberal” media.

 

[hal2kilo]

lol. NBC as in the network that signed Trump for the Apprentice. Has nothing to do with the “liberal” media.

Essentially it's always the media fault, never the perp. Facts just piss people off.
You know, one of the real reasons why Roger Ailes started Fox cause NBC was in talks with him but, screwed him and started MSNBC instead.

 

[esquared]

I didn't see this posted:
New York Senate OKs giving US House Trump state tax return

https://news.yahoo.com/ny-lawmakers-jump-fight-over-trump-tax-returns-094903609.html

Now watch the repubs calling this a dirty trick.

 

[Bitek]

If the tax code allows deprecating real property, then it's not illegal at all.
I'm very curious to see what an actual CPA or tax attorney has to say about the released information. If Trumps losses were depreciation on real property, it's a non story as those losses only exist on paper. If he was actually incurring multi million dollar losses every year for ten years I'd like to know where that money came from.

Not an accountant, and I don't know the depreciation schedule and details for US commercial real estate tax law specifically, but I'm not the clueless fool he would take us all for.

For capital equipment, 15 years is a typical duration, as that's the useful life of the equipment.

Property should have a greater useful life, so a smaller % of the overall cost is depreciated every year.

For a hypothetical and easy math, let's assume a 20 year period on his assets. That's 5% per year.

To write down $100M (on avg) in a year for depreciation, that translates to ~$2B worth of assets.

However, depreciation is just one item on the Profit and Loss statement.

He showed net loses Y/Y. That means on top he would have to also show no net profit, at the very best, from all his other business activities, year after year.

Basically massive funds tied up in depreciating, non-liquid assets, fueled by debt being serviced at high %, and failing to generate profit.

His cash flow statements must have been a bloody nightmare. Hence why he defaulted on his loans and had to forfeit so many assets to lenders at steep losses.

Considering he became a notorious, high risk lender, yet still had considerate real estate assets in desperate need of new cash flow, you gotta wonder where he could find sources of new funds... And why would they want to take the risk? Hmmmm.... Where does this all lead? Hmmmmm...

 

[Starbuck1975]

Essentially it's always the media fault, never the perp. Facts just piss people off.
You know, one of the real reasons why Roger Ailes started Fox cause NBC was in talks with him but, screwed him and started MSNBC instead.

It was brave of you to admit you were wrong and I admire the honesty of your concession.

 

[Hayabusa Rider]

It's amazing what someone can get away with when they can buy an army of high priced lawyers, isn't it? Especially when they're paying the legal bills with the plaintiff's money.

The best way financial failures can benefit is to take advantage of the expertise of others. Trump is still a failure but lived financially to tell the tale.

 

[Bitek]

Is this the information that has been publicly know for a few decades? What's the next breaking news? We land on the moon?

So your position is that you were fully aware Trump was a historically bad businessman who's ventures routinely ended up as spectacular failures, even after engaging in desperate, fraudulent and bad faith business practices, and all his claims of an alternate reality of success, wealth and business acumen were comically false lies that could only be overshadowed by his venal, immoral and sinful behavior in his personal life...

... and you decided to vote for him to lead the wealthiest economy and most powerful military on the planet? On purpose.

That's a hell of an admission.

 

[Hayabusa Rider]

And the current state of Trump taxes is...


NY makes Mnuchin irrelevant. Also double jeopardy being rewritten.

 

[VRAMdemon]

Trump is like Schrodinger's businessman. He is both successful and unsuccessful, and BOTH of these states of being make him an excellent choice for president in some people's minds. All this double-think determination to ignore reality has to be doing a number on the stability of those cognitive gymnasts.

We're talking about somebody who repeatedly went broke running a casino, which is the business equivalent of getting lost inside a phone booth.

 

[VRAMdemon]

There's a context here that I think is missing in this discussion, which is that Trump's extreme losses led him to tap into Russian money in the 1990's, when the Soviet Union collapsed and kleptocrats were seeking to profit off of the liquidation of assets.

Once you combine this story of Trump's losses with the quote from his son, Eric, that "we have all of the money we need out of Russia", and then combine that with the fact that Deutsche Bank became Trump's go-to lender, and then realize that Deutsche Bank was assisting with the laundering of Russian money, you begin to understand how Trump originally became such a Russian stooge, why he was glad to poo-poo away their election help, and why he remains indebted to them to this day.

 

[fskimospy]

What I see and what I find is funny is that it seems to be slowly dawning on Trump supporters that he’s as stupid as any other reality TV star.

 

[DarthKyrie]

What I see and what I find is funny is that it seems to be slowly dawning on Trump supporters that he’s as stupid as any other reality TV star.

I wouldn't count on about half of them to get it, you need to remember that there are at least 60 Million people in this country with the IQ of a turnip.

 

[Hayabusa Rider]

I wouldn't count on about half of them to get it, you need to remember that there are at least 60 Million people in this country with the IQ of a turnip.

Turnip voters and a bag of hammers President.

 

[DarthKyrie]

Turnip voters and a bag of hammers President.

There are very few things that scare this sociopath and my biggest fear is the growing population of turnip IQ's that can vote and own firearms.

 

[Hayabusa Rider]

There are very few things that scare this sociopath and my biggest fear is the growing population of turnip IQ's that can vote and own firearms.

As IQ's apparently plummet I wonder if these people wouldn't shoot themselves accidentally before they harm anyone else.

 

[kage69]

So all that money lost? Feh. Just sport.

They weren't "massive loses" per se, closer to unbridled yet harmless adventurism! That cost him so much he set a record.

This should do wonders for Il Douche's temperament and depression. His big baller tycoon image is near and dear to where his heart should be.

 

[Hayabusa Rider]

And another black eye for Team Rocket, er, Trump.

As the article states fast tracking is a bad sign for Trump. Looks like Congress can have NY tax and financials as well as from Mazars. The illusion of absolute power can be fleeting indeed.

 

[cytg111]

"Decade in the red"...still becomes a BILLIONAIRE. Lol

Selling meth and US foreign policy.
Lol.