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Why Trump will lose   Futility Folder:Politics

Started Jul-11 by yotsubishi (ToraMori); 13978 views.
In reply toRe: msg 1

Trump's finances have been exposed. This looks really, really bad.

https://dnyuz.com/2020/09/27/18-revelations-from-a-trove-of-trump-tax-records/

  • Mr. Trump paid no federal income taxes in 11 of 18 years that The Times examined. In 2017, after he became president, his tax bill was only $750.

  • He has reduced his tax bill with questionable measures, including a $72.9 million tax refund that is the subject of an audit by the Internal Revenue Service.

  • Many of his signature businesses, including his golf courses, report losing large amounts of money — losses that have helped him to lower his taxes.

  • The financial pressure on him is increasing as hundreds of millions of dollars in loans he personally guaranteed are soon coming due.

  • Even while declaring losses, he has managed to enjoy a lavish lifestyle by taking tax deductions on what most people would consider personal expenses, including residences, aircraft and $70,000 in hairstyling for television.

  • Ivanka Trump, while working as an employee of the Trump Organization, appears to have received “consulting fees” that also helped reduce the family’s tax bill.

  • As president, he has received more money from foreign sources and U.S. interest groups than previously known. The records do not reveal any previously unreported connections to Russia.

Boomslang (DaveP8)

From: Boomslang (DaveP8)

Sep-27

I could only imagine what Pelosi is writing off for botox and hair styling.

 

Dave P

SwingBetter

From: SwingBetter

Sep-27

I don't think it surprises a lot of people, who regularly hear about the rich not paying much tax.  IE Amazon.  
 
Tax laws could have been changed under Biden/Obama, but they didn't want to pay taxes either on all their deals. 
 
I agree that there should be adjustments to tax laws, where huge profits are not wiped out so easily.     

Boomslang (DaveP8)

From: Boomslang (DaveP8)

Sep-27

If you build a few hundred millions dollars worth of warehouses, shouldn't you be able to write off that cost?

 

Dave P

Bob (MULLYMAN)

From: Bob (MULLYMAN)

Sep-28

Oh no another nail in his now fire proof coffin

flatstik (gregf82)

From: flatstik (gregf82)

Sep-28

FYI, we have guaranteed loans with balloons coming due all the time (and what is guaranteed - nonrecourse carveouts, payment, etc.?), and you just refinance.  No lender wants to be a landowner - it gets worked out.  

j (Dustdevil8)

From: j (Dustdevil8)

Sep-28

Yeah, don't get it. Either Trump is dodging paying his taxes on the huge amounts of money he's raking in or he's a bad businessman who is losing money hand over fist and therefore has no income to tax.

I wish the haters could get together beforehand and get their stories straight.

I don’t think so. This looks really bad. Trump Drama Fatigue is real.
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