Donald Trump's Tax Records: A Tale Of Business Failures

[DonDadda59]

Did Kurt Eichenwald get ripped off by Drumpf U or something? Few days ago he broke the Donald's Cuba connection story, now he just eviscerated the business genius myth. The man has been on a war path, declared jihad on the Donald.


...And the primary way he avoided bankruptcy those times was not through any personal skill, but because of an accident of birth—his wealthy father, who set him up in business, bailed Trump out.

...

...But Trump’s success in that deal—as well as every project that preceded it—came because he was born with a silver shovel in his mouth. His father, a major New York developer named Fred Trump, had personally guaranteed the construction loan from his banker at Chase Manhattan so that his son could do the project. Through that same banker, Fred Trump also arranged for Donald Trump to obtain a personal line of credit of $35 million at Chase Manhattan. In one more bit of evidence that the wealthy are not like you and me, the bank gave Trump the loan without even requiring a written agreement.

...

The bottom line—no pun intended—is this: Trump is not a self-made man. He is a self-made disaster who only avoided personal bankruptcy thanks to his father being there to clean up his messes. In other words, if Trump really was the businessman he pretends to be—an executive who made it on his own through sheer grit and determination, rather than through his family’s ability to bail him out—today he would not be the Republican nominee for president, but instead just another forgotten footnote in the annals of New York real estate development.

http://s.newsweek.com/sites/www.newsweek.com/files/styles/full/public/2016/10/05/trumptax1.jpg

RIP The Alt Right (http://www.newsweek.com/donald-trump-federal-income-tax-records-506713)

http://i280.photobucket.com/albums/kk188/Dreamcastor/Funny%20Stuff/THElol.gif

[poido123]

Nice copy/paste.


$5 per post?

Must be alright money. The witch has been taking in millions from donors while appointing them into ambassador positions.

[Patrick Chewing]

https://media.giphy.com/media/26uflvc8Y3D4vvyw0/giphy.gif

[FillJackson]

Tim O'Brien is on this too. He's the guy who Trump sued because he said Trump wasn't a billionaire and he got Trump under oath to admit he lies about his wealth.

[FillJackson]

As I’ve noted before, I’ve seen Trump’s tax returns -- in conjunction with an unsuccessful libel suit he filed against me in 2006 for my book “TrumpNation.” While I can’t write specifically about what I saw, I can say that the returns would give voters useful and tangible insights into Trump’s actual track record as a businessman, philanthropist and taxpayer.

But Trump has chosen not to release his returns. And I doubt he ever will, because they would reveal that the career he boasts so much about is built on sand. That’s just one reason the 1995 tax return anonymously sent to the Times is so valuable. It refutes Giuliani’s argument in big numbers (numbers that even the Trump campaign does not dispute).




But Trump isn’t that financially sophisticated. In my interviews with him, he had trouble explaining such basic real estate concepts as “cash flow.” And in the present campaign, he has dropped alarming howlers about how he might manage federal finances as president. His eyes tend to glaze over when complex numbers come into play. Trump’s own former accountant, Jack Mitnick, told the Times that it was always Trump’s ex-wife Ivana who asked probing questions about the couple’s taxes. Trump himself, Mitnick said, was disengaged, and less detail-oriented than his father, Fred.
https://www.bloomberg.com/view/articles/2016-10-03/searching-for-the-truth-in-trump-s-1995-tax-return

[poido123]

Tim O'Brien is on this too. He's the guy who Trump sued because he said Trump wasn't a billionaire and he got Trump under oath to admit he lies about his wealth.


One of the key signs in detecting the 'online army' is the frequency of their posts and the coloured, detailed posts they make.


shit, Dondadda is a shill :eek:

[Jameerthefear]

Donald exposed

[FillJackson]

Now the other thing about the $916 million loss that is interesting is when did Trump ever have 900 million of his own money? In 1995? After a billion dollar loss a few years earlier?

When you take a loss on a S corporation, the loss is only supposed to equal what you put into the company. Trump didn't put 900 million in, he borrowed it. Normally if you have your debt forgiven, that counts as taxable income. But before 2002 there was badly written law that created a loophole. That loophole allowed trump to take a 900 million dollar loss while his banks were they ones who actually took the hit. Even though his bankers forgave his debt, this loophole meant he didn't have hundreds of millions in taxable income.

http://www.businessinsider.com/why-did-trump-pay-so-little-tax-2016-10

Senator Hillary Clinton was one of those who voted to close that loophole.

[~primetime~]

Now the other thing about the $916 million loss that is interesting is when did Trump ever have 900 million of his own money? In 1995? After a billion dollar loss a few years earlier?

When you take a loss on a S corporation, the loss is only supposed to equal what you put into the company. Trump didn't put 900 million in, he borrowed it. Normally if you have your debt forgiven, that counts as taxable income. But before 2002 there was badly written law that created a loophole. That loophole allowed trump to take a 900 million dollar loss while his banks were they ones who actually took the hit. Even though his bankers forgave his debt, this loophole meant he didn't have hundreds of millions in taxable income.

http://www.businessinsider.com/why-did-trump-pay-so-little-tax-2016-10

Senator Hillary Clinton was one of those who voted to close that loophole.

Trump keeps talking investors into letting him borrow money, and he keeps losing

He sucks at everything except conning dummies

[Terahite]

Hillary has already been caught paying people via craigslist to act as protesters at Trump rallies. Are people really surprised they have paid shills on the internet?

[Cleverness]

http://api.theweek.com/sites/default/files/1005SteveKelley_Creators.jpg

[kurple]

Trump is a scumbag and a terrible businessman


Guy says he's gonna save the american economy, but it doesnt take a genius to understand that if everyone stopped paying taxes that would never happen

[FillJackson]

Acutally according to the trade publication Tax Notes (https://pbs.twimg.com/media/CuENKeoWEAAvI6F.jpg), the loophole that Trump most likely used was closed in 2002. Clinton voted to close that loophole. Bush signed the bill.

Previously the IRS went to the Supreme Court to argue against the interpretation that made the loophole possible, but the court said they needed to change the letter of the law.

[FillJackson]

Buzzfeed put up the records of Trump's bankruptcy online.

His own lawyers decided they always need to send two lawyers when meeting with him. That way there would be a witness if Trump tried to later lie about what was said.

:roll:

https://pbs.twimg.com/media/CuEFiR6WYAAHqOp.jpg

https://pbs.twimg.com/media/CuEFjSpWcAAAkRd.jpg

https://pbs.twimg.com/media/CuEFjSpWcAAAkRd.jpg


Look at what they claim Trump is an expert on.

:roll:

:roll:

[nathanjizzle]

hes a great person for sure.

[andgar923]

[QUOTE]If I don

[Facepalm]

also, the tax "genius" moniker cracks me up. His own attorney that prepared his taxes said Trump had 0 input in how his taxes were done. He's not a tax genius, he just hired some good lawyers.

[NumberSix]

Acutally according to the trade publication Tax Notes (https://pbs.twimg.com/media/CuENKeoWEAAvI6F.jpg), the loophole that Trump most likely used was closed in 2002. Clinton voted to close that loophole. Bush signed the bill.

Previously the IRS went to the Supreme Court to argue against the interpretation that made the loophole possible, but the court said they needed to change the letter of the law.
No, the 2002 bill just changed it to an 18 year timeframe. Before that it was unlimited.

[bladefd]

What a fraud and con-artist Trump is. $10 billion my ass. I would be surprised if he is even worth half that :roll:

He has conned half of America by trying to sell the idea that he is this successful businessmen when he is nothing but a fraud :facepalm

[NumberSix]

What a fraud and con-artist Trump is. $10 billion my ass. I would be surprised if he is even worth half that :roll:

He has conned half of America by trying to sell the idea that he is this successful businessmen when he is nothing but a fraud :facepalm
He probably isn't. Most reliable sources say he's worth about $4 billion.

I think the reason why he's saying $10 billion is something psychological. We all know $4 billion is filthy rich, but there's something about the number 10. Even if you were worth $11 billion, there's something psychologically more impressive sounding about 10. Something about the number 10 represents a fullness. It's like, complete.

[poido123]

What a fraud and con-artist Trump is. $10 billion my ass. I would be surprised if he is even worth half that :roll:

He has conned half of America by trying to sell the idea that he is this successful businessmen when he is nothing but a fraud :facepalm


If you hate cons, you are in support of the biggest one.


Pay to play donors
pay for online army
planting child actors tht she claimed she picked in the crowd 'randomly'
mysterious deaths of people who have dirt on hillary
clinton foundation taking donations from the saudis
planted teleprompters and biased moderators at debates


And the list goes on and on...


But you keep talking about tax returns and Trump's wealth. Because clearly that has FAR more relevance than Hillary's track record.

:rolleyes:

[TheMan]

Goddam, the bad news just keeps on coming for the Donald.

Not only is he gonna get destroyed on Nov 8, his brand is taking a massive hit :lol

He will still have the millions of idiots who think he's the greatest thing since sliced bread so he'll be ok, he'll figure out a way to fleece those mouthbreathers.