What are you taking about. The leak is from 2016-2017. Trump was president. You think he is running those? He just owns majority interest.
Trump Corp. owns real estate worth about 100 times that. He could sell Trump tower on 5th Avenue, pay that off, retire the remaining debt on the building and pocket over $100M. If he needs to, he can just sell a couple of properties. Read somewhere his leveraged amount is less than 35% to value. What that means is his debt is 35% of the value of his real estate assets. Don't quote me on that 35% I am working off memory and 2 hours sleep last night. Also, he get audited all the time. If the IRS doesn't have nor has had any issues with his tax returns the Democratic party and their propaganda arm in the media shouldn't either. I wish they would ask about Biden's subchapter S corporations as a tax dodge.......Oh and then there's the payola thing with Hunter. These politicians are all so dirty, I need a bath after talking about them
It’s like saying the guys that invested in Twitter before their IPO are idiots because Twitter never made a profit. They didn’t do anything and made millions off that company. People are just ignorant of wealth. The guy that runs our company pays less tax as a % than I do. He showed me. I’m not mad. He has helped me make more money than I ever dreamed of and HE has all the risk. This really shouldn’t be an issue.
I hate you. I actually opened the NYT to read it to make sure I wasn't missing anything and let me tell you, FAKE NEWS! From the NYT's OWN reporting: "Mr. Trump paid alternative minimum tax in seven years between 2000 and 2017 — a total of $24.3 million" Its clear these idiots are not actually that stupid and this $750 number is the "additional" payment each year. This is a clear tactic to deceive the lemmings. No way they do not know how to read a tax form. No way..... "For 2015, he paid $641,931, his first payment of any federal income tax since 2010." So from 2000 - 2017 he paid $24 million in the "minimum" tax but 2015 was the first time he paid since 2010.... They are just playing with words at this point. But wait! There is more! "As he settled into the Oval Office, his tax bills soon returned to form. His potential taxable income in 2016 and 2017 included $24.8 million in profits from sources related to his celebrity status and $56.4 million for the loans he did not repay. The dreaded alternative minimum tax would let his business losses erase only some of his liability. Each time, he requested an extension to file his 1040; and each time, he made the required payment to the I.R.S. for income taxes he might owe — $1 million for 2016 and $4.2 million for 2017. But virtually all of that liability was washed away when he eventually filed, and most of the payments were rolled forward to cover potential taxes in future years." Let me repeat their own words.... "HE MADE THE REQUIRED PAYMENT TO THE IRS...." "To cancel out the tax bills, Mr. Trump made use of $9.7 million in business investment credits, at least some of which related to his renovation of the Old Post Office hotel, which qualified for a historic-preservation tax break. Although he had more than enough credits to owe no taxes at all, his accountants appear to have carved out an allowance for a small tax liability for both 2016 and 2017. When they got to line 56, the one for income taxes due, the amount was the same each year: $750." Everyone knows this is the "additional payment" spot..... Or do they? Here is the gem everyone. Read this closely..... Until 2009, those coupons could be used to wipe away taxes going back only two years. But that November, the window was more than doubled by a little-noticed provision in a bill Mr. Obama signed as part of the Great Recession recovery effort. You guys see what happened right? In 2009 Obama changed the tax law to all people like Trump to: request full refunds of taxes paid in the prior four years, and 50 percent of those from the year before that. We all know what happened in the 2007-2008 time frame. Being that Trump was massively in casinos and real-estate, he just played the game. So Trump has smart people and figured out a hole in the law and the government got caught with their pants down. THAT IS THE STORY. Damn. I like him even more now. I should thank you!
You don’t read well do you. I never said a thing against his leveraging of the tax code. He used the law to its fullest extent and he would have been a fool not to. My point is that the losses he used to carry forward are evidence of his poor management. By his own financial statements he’s over leveraged with more than $400 MM in loans much personally guaranteed due soon after he leaves office. Many of his golf properties are hemorrhaging cash and his income from the Apprentice is dwindling. He’s a loan refusal from bankruptcy. That’s the real data in the article
No its not. Its all casinos and real-estate. Were you in hibernation in 2008 dude? Not a single person was able to "keep" the value of their property. Not one damn person in this country. Further, his Casino was private money. Not even the publics like MGM were able to stop the losses. Its the name of the game. MGM lost BILLIONS. You are in over your head dude. Its the system. Not the individual. Think about it. MGM looses billions in a public company and the only people that really get burned are the public investors. In a private enterprise, like Trumps, he managed to "increase his wealth". Tell me again he is stupid....
In other words, poor management of his wealth would be a "refusal" to carry forward realized losses on property value and or economic hardship. Like I said in 2016 when people questioned his "wealth" and "bankruptcy". Who is smarter, the guy that takes loans in billions to increase his wealth or the guy who used and lost his own money? Its very simple dude. Its the type of "Dave Ramsey" view of money that keeps people poor. If a bank was willing to give me 1 million dollars and I lose it all, who is really the dummy? But Dave would have told me to not take a loan and save 1 million of my dollars and then go lose it..... Trump is the ultimate salesman and love him or hate him, he has played the game well.
https://www.nytimes.com/2016/06/12/nyregion/donald-trump-atlantic-city.html But even as his companies did poorly, Mr. Trump did well.
Lastly, the real issue is people like you @Winston1 who have this higher perceived moral compass. You think what Trump does is scummy. Who is the scum. The guy who uses the laws or the people that write them? Don’t say both.
