Trump claims $421 million debt“tiny.” Owes more than twice that

so the NY Times said they had his taxes and it was 400 million, another article said 800 and now this?? who’s lying???

 

This Forbes, not NYT.

 

the context of that conversation was the debt in relations to the financial size of his business and whether it was healthy/sustainable. His next (or soon after) clarifying statement was, I am very underleveraged by the industry standards.

 

so NyT was lying?

 

Lenders won't touch him. That's the point.

 

Dunno, all the righties complain that NYT isn’t a credible source, so I cited the Forbes article.

 

so the times is lying?

 

Obviously if you could think like Trump you'd be a billionaire many times over and the leader of the free world. As things stand, your continuous insistence that only a totally debt free business can be passed to one's descendants betrays total ignorance (no offense meant) of all business related matters. I hope you've already ordered that book I recommended, it WILL help, I promise.

PS $100 million in profits on $2.9 billions worth of assets is extremely low. Of course qualified high paid accountants will do their best to minimize this number to a bare minimum, utilizing every loophole, deduction, write-off provided by the tax code, which happens to have been written by lawmakers like Biden, Kamala, Obama, the Bushes, the Clintons and others.

 

They're personal loans. Industry standard is to get corporate loans. Why would anyone risk their personal wealth when the loan can be given to the corporation?

 

nah, you are ignoring the context and at any rate, it's just yet another funny and harmless leftist freakout over absolutely nothing. You are not fooling 100% of the country with these cheap and transparent machinations. but kudos to you for never giving up and keeping the faith that some day somehow these freakouts will fool someone LOL

 

Probably accounting, it's basically the same sh*t, when a company is privately owned (i.e. not publicly traded) you can pretty much move the money between your business and private accounts all you want (you of course need to report the transactions to federal/state tax authorities but there are very few restrictions).

 

Impressive. You still don't get it. People who understand proportions don't see the comment as tone deaf.

 

Ha. I'm not a leftist. I'm saying our president is so completely out of touch that he's not aware how his statements sound. Yes, he tried to explain it, but he should have done that FIRST. Blurting out that 400 million is peanuts is just dumb.

 

You can rationalize anything. To me, it's a big red flag. Trump could settle this with transparency. He doesn't. Another big red flag. I'm past rationalizing.

 

Almost nobody can imagine a world where 400 million dollars is chump change. That's the point. It doesn't matter if it's true. Perception is reality. I knew exactly what he meant when he said it. My issue isn't with that; my issue is the way he treats Americans with such disdain.

 

Debt means using someone else's money to make money for you.
For him to NOT have a responsible amount of debt would be a sign of a bad businessman.

As far as leaving $ to the kids - he has a --net-- worth of $2.5 billion - he's going leave,what, more than five thousand times more to his kids than you are.

 

^^^
Statement of abject ignorance.

 

He has $400m in debt against $2,500m in assets, so you must be wrong.

 

You do not get it. His companies might be worth 2.9 billions, which I doubt.
But he is personally responsible for 421 millions, which are due in the next 4 years.
He would have to do a fire sale, to get that money, because nobody will give him such a huge amount of money.

I am a millionaire many time over, in assets, in the range of double figures.
Really, its fantasy, because you have to realize, those figures, which means, try to sell the crap.
So if you are not producing enough cash to pay of your debt, than your money loosing assets, aint going to do it.

I am just a millionaire 10 time over, if I can sell it, till than I am just the average guy.
Not really average, because Me and my business have no debt.

 

YOU have no clue whatsoever what he can/can't/will do to take care of that debt.

No one believes this, especially you.

 

I do not care, If you believe it.
its the simple matter of evaluation of property. By that I am supposed by Covid Boys standards a ten time millionair.

I aint, because my assets, don't mean crap, till I made green out of them.

 

Did you read what I said?

 

Give him a break - the inability to pin people to positions they don't have must be frustrating.

 

yeah you aren’t concerned about who’s lying

 

No, I supplied an alternative source of information. I made no claim about lies.