Trump tax returns leaked, and show he lost more money than anyone in the time period.

Discussion in 'Budget & Taxes' started by Pro_Line_FL, May 7, 2019.

  1. Pro_Line_FL

    Pro_Line_FL Well-Known Member

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    Some dealmaker......


    https://www.nytimes.com/interactive/...ump-taxes.html

    The numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade.

    In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 — more than $250 million each year — were more than double those of the nearest taxpayers in the I.R.S. information for those years.
     
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  2. sec

    sec Well-Known Member

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    And? Have you ever started a business? Have you ever experienced losses in the business that you started? What is it that we are supposed to be outraged? If you don't like the guy, fine.
     
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  3. Pro_Line_FL

    Pro_Line_FL Well-Known Member

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    Why is Trump refusing to release his taxes?

    - They show his failure as a business man
    - They show he didnt pay taxes for over 10 years
    - They show he donated nothing to charity
     
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  4. Pro_Line_FL

    Pro_Line_FL Well-Known Member

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    Yes, I have started a business, but I was not the #1 loser in the nation. I actually did pretty well. The guy who sold you a book about how to run a business is the #1 loser.

    No one is asking you to outraged, or express any other emotion. Trump loyalists are expected to ignore the fact that he sucked as a businessman.
     
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  5. sec

    sec Well-Known Member

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    what book? I'm curious, how did Dodd/Frank and then the ACA impact your business? I'm on record on this site with great detail about the impact that it had upon mine. Perhaps your business was much smaller than mine is, but I'd like to hear how you navigated through it.

    As to the tax returns of Trump; if you don't like the tax codes, get them changed. The only emotion that I see is the "outrage" that you seem to have about 34 year old tax returns of a guy who employed thousands
     
  6. ibobbrob

    ibobbrob Well-Known Member

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    I have started two businesses and you are correct in my instance. However, Trump claimed losses over a ten year period, citing
    write-downs as the cause. If he can do it, so can the all the super wealthy claim write-downs for continuous losses resulting in no taxes for them. My question is: Why the huge tax reduction for the super wealthy who didn't pay taxes anyway? Obviously, along with his
    disregard for the law over the years, he had a knack for taking advantage of our tax code as do all great con-men.
     
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  7. Pro_Line_FL

    Pro_Line_FL Well-Known Member

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    I did well, but I am not the topic here, and neither are you.

    What book? "The Art Of The Deal", which he wrote while taking massive losses with his businesses.

    Maybe you see outrage everywhere you look. It seems to be a permanent state of mind with some people.
     
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  8. Mandelus

    Mandelus Well-Known Member

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    So much for the myth of the terrific successful businessman Donald Trump ... :roflol:
     
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  9. ibobbrob

    ibobbrob Well-Known Member

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    The myth is only in the eyes of his supporters. Informed people know that he is full of sht.
     
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  10. Mandelus

    Mandelus Well-Known Member

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    I can only agree ... :)
     
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  11. Observing

    Observing Well-Known Member

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    If he is a failure, I wished I failed. You understand that dems also voted for the tax code that allows his success at doing so. Would you have voted for him if he paid 25% on his taxes and gave big money to charity- I would not have and I don't think anyone would have who voted for him.

    The RW on this site don't care that the super rich don't pay the same proportion of their income in taxes as we do.
    They are fine with it and would have voted for trump anyway.

    This taxes is ridiculous, Like the CIA and FBI don't have his returns already, with all the leaks in those organizations it would being the wall street journal yesterday if there was a significant conflict of interest. This is just orange man bad crap.
     
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  12. sec

    sec Well-Known Member

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    Trump has always been full of bull. Much like with Obama, I don't need to hear what the POTUS thinks about every topic. I see the economy and it's good. I see that how things were done in the past with respect to international relations needed to be changed. As a business owner, I'm all in favor of trying new methods/markets in order to get favorable results but, if the resutls aren't better, change again.

    The biggest issue that I have with all of DC (not just the POTUS) is they keep doing things in the same inefficient, ineffective manner and then tell the constituents that all they need is X,Y, or Z and then things can change.

    Trump was the kick in the groin that DC needed, and you can see the kicking and screaming from both sides of the aisle because Trump doesn't need to play along to become wealthy, he already is.

    The whole concern about 30-year-old tax returns is testament
     
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  13. fmw

    fmw Well-Known Member

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    The NYT released these returns before the 2016 election. It is old news. people were fighting over them back than. It simply demonstrates how poorly debaters understand tax law.
     
  14. vman12

    vman12 Well-Known Member Past Donor

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    Well he was a Democrat then, so that explains that.
     
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  15. TOG 6

    TOG 6 Well-Known Member

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    Gotta ask:
    So?
     
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  16. vman12

    vman12 Well-Known Member Past Donor

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    You mean the billionaire right.
     
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  17. yardmeat

    yardmeat Well-Known Member

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    It is useless to play make-believe that these are normal business losses.
     
  18. TOG 6

    TOG 6 Well-Known Member

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    It's even more useless to believe you have a clue as to what kind of losses they are and how, from 25-35 years ago, they matter.
     
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  19. Collateral Damage

    Collateral Damage Well-Known Member

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    It would really be beneficial if you understood some of the tax laws, and understood where those losses came from, what losses are legal to write off, how they are written off, and what actually causes those losses.

    Don't like the tax code, let your multi-millionaire state Representatives and Senators know, and campaign them for changes. Otherwise, not really much to stand on.
     
    Last edited: May 8, 2019
  20. vman12

    vman12 Well-Known Member Past Donor

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    Must be Russian involvement.
     
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  21. ibobbrob

    ibobbrob Well-Known Member

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    The testament is that those tax returns tell a story and the same may be and probably is true today. Trump is in the process of destroying
    our international relationships and this is a huge change, as he sidles up to thugs much like himself and denigrates our intelligence agencies. Trump doesn't need to be wealthy and he is greedy and wants more and more. Doesn't matter what he already is. His mission is to line his pockets.
     
  22. yardmeat

    yardmeat Well-Known Member

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    The degree of the losses, if the reporting is correct, are (to put it mildly) substantial, and they are in keeping with the criticism of Trump's business practices that people have been giving for years. If you don't care, then you don't care. I only see them as illustrative of his recklessness, which didn't really need many more examples.

    Business is at its best when it creates value, which really isn't the way Trump has gone about conducting business, which is part of why he relies on image (often false image) over substance.
     
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  23. Le Chef

    Le Chef Well-Known Member Donor

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    He lost that much but still has a penthouse in Manhattan, plus a private Boeing 757 and a Sikorsky S-76 (one of several private choppers) to buzz around in. Sounds like those losses were chump change, or should I say ... Trump change?

    Tell us about your penthouse, jet, and helicopter(s).
     
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  24. yardmeat

    yardmeat Well-Known Member

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    Probably not. Russians tend to over-pay for his properties and use them for money laundering. Though, note, I'm not speculating on Trump's knowledge of that money laundering. He probably had no idea what was going on. It just probably had nothing to do with his business losses.
     
  25. TOG 6

    TOG 6 Well-Known Member

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    So you've been told... by people to oppose Trump...
     
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