Zombie [NY Times] Trump tax returns

Welcome to our community

Be a part of something great, join today!

Register Log in
Fez Hammersticks

Fez Hammersticks

スーパーバッド Zero Cool
Joined
Sep 23, 2008
Messages
29,178
Likes
9,862
Points
113
Link

A loss of $915m in 1995 - $1.4b in 2016 money. Did I mention that it was a strong economic year and he still lost $1.4 billion?

Tl;dr: His losses were so severe the government took pity on him. He also avoided paying income tax for two decades.

# Learn the game, then post

# Checkmate

# RIP Drumpf campaign
 
Last edited:
I eagerly await Kellyanne's rant on all the money Donny spends on property tax.
 
Last edited:
CtvAfO6WcAA6bEq.jpg
 
Again not sure what the big deal is. He took big enough losses to counter paying tax. It happens all of the time with business owners. Our family takes advantage of this too, albeit its a smaller scale so we still end up paying some tax.
 
blue32 said:
Again not sure what the big deal is. He took big enough losses to counter paying tax. It happens all of the time with business owners. Our family takes advantage of this too, albeit its a smaller scale so we still end up paying some tax.
Click to expand...

He lost a billion dollars in one year. Considering that he places a multi-billion value on just his name alone he could easily be running a scam that would make Bernie Madoff blush.

He needs to release more tax returns, this one year paints a terrible picture of him as a businessman.
 
SlyPokerDog said:
He lost a billion dollars in one year. Considering that he places a multi-billion value on just his name alone he could easily be running a scam that would make Bernie Madoff blush.

He needs to release more tax returns, this one year paints a terrible picture of him as a businessman.
Click to expand...

He doesn't need to release shit. The man used tax law to avoid paying taxes. We need to move on. People upset about it need to lobby to fix the tax code if they don't like it.

Nobody is going to pay tax just "for the hell of it".

Also the amount of property tax, excise tax, and other taxes hes paid through his business dealings are more than most Americans pay in a life time. Time to get over it.
 
blue32 said:
Again not sure what the big deal is. He took big enough losses to counter paying tax. It happens all of the time with business owners. Our family takes advantage of this too, albeit its a smaller scale so we still end up paying some tax.
Click to expand...
a couple issues. 1) his basic claim is that he is such a good business man that he should run our country, but this claim seems unsubstantiated at best. 2) It shows a flaw in the system, where you still pay some taxes, I pay taxes, but someone who is worth millions, or possibly billions doesn't pay to support our troops, our schools, roads, hospitals, or anything yet still shits on gold toilets.

Although I don't think this by itself means he shouldn't become president, I do think it ruins his claim that he has some natural gift to make money and that gift will translate to the oval office. He started his career with 14mil from his father (at least) and yet has filed bankruptcy multiple times and has demonstrated an ability to lose money in boom years. His main claim seems faulty.
 
Further said:
a couple issues. 1) his basic claim is that he is such a good business man that he should run our country, but this claim seems unsubstantiated at best. 2) It shows a flaw in the system, where you still pay some taxes, I pay taxes, but someone who is worth millions, or possibly billions doesn't pay to support our troops, our schools, roads, hospitals, or anything yet still shits on gold toilets.

Although I don't think this by itself means he shouldn't become president, I do think it ruins his claim that he has some natural gift to make money and that gift will translate to the oval office. He started his career with 14mil from his father (at least) and yet has filed bankruptcy multiple times and has demonstrated an ability to lose money in boom years. His main claim seems faulty.
Click to expand...

If he used the tax law to avoid paying taxes I could care less. Why? Because it was legal to do so. He contributed to the economy in other ways big time. I am not sure I see a huge problem with him not paying taxes on his losses.

Again:
"Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes, along with very substantial charitable contributions."

SlyPokerDog said:
We don't know.
Click to expand...

You're right. We don't know, yet here it is front page insinuating a bunch of bullshit.

SlyPokerDog said:
If he's not paying taxes then why is he proposing to give himself a large tax cut once he's president?
Click to expand...
I'm not going to spell out his tax plan; if you don't know go read it.


I am against taxes regardless of who you are so you'll never see me advocating people paying tax. Hell I don't even want Hillary paying and I can't stand that wench.
 
blue32 said:
If he used the tax law to avoid paying taxes I could care less. Why? Because it was legal to do so. He contributed to the economy in other ways big time. I am not sure I see a huge problem with him not paying taxes on his losses.

Again:
"Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes, along with very substantial charitable contributions."



You're right. We don't know, yet here it is front page insinuating a bunch of bullshit.


I'm not going to spell out his tax plan; if you don't know go read it.


I am against taxes regardless of who you are so you'll never see me advocating people paying tax. Hell I don't even want Hillary paying and I can't stand that wench.
Click to expand...

You're defending Trump's financials like @barfo defends Hillary's emails.
 
I dont see the big deal. He didn't lose a billion dollars, he showed a loss of a billion dollars by having brilliant CPA's. Richbpeople do this all the time.

Now when I say it's not a big deal, I mean because a lot if people do it. Doesn't mean I want my President doing it......Even though most probably have and do.
 
blue32 said:
If he used the tax law to avoid paying taxes I could care less. Why? Because it was legal to do so. He contributed to the economy in other ways big time. I am not sure I see a huge problem with him not paying taxes on his losses.

Again:
"Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes, along with very substantial charitable contributions."
Click to expand...

My post that you are responding to never said that he is wrong to try and pay little tax. This is not my claim. It does relate to half my post, that the system is screwed up and needs correcting because there is no way someone worth billions should have that legal loophole available while the average citizen has to pay a heavy toll every year. But as the laws stand, I don't think it is wrong to try and use legal loopholes. But when those loopholes come year after year, which means losing money year after year, that shows something else.

The other portion of my post was that Donald in many ways is basing his run for the presidency on a basic premise 'The Donald is the Best Businessman' and earns money hands over fists. And that this extraordinary business acumen will translate to running the US government. But the more times we learn about bankruptcies, business scams, taking huge losses in boom years, the more those color our view of Donald as something of a shyster, someone who could end up causing huge problems to our economy, the exact area he proclaims to be the best at.
 
Further said:
My post that you are responding to never said that he is wrong to try and pay little tax. This is not my claim. It does relate to half my post, that the system is screwed up and needs correcting because there is no way someone worth billions should have that legal loophole available while the average citizen has to pay a heavy toll every year. But as the laws stand, I don't think it is wrong to try and use legal loopholes. But when those loopholes come year after year, which means losing money year after year, that shows something else.

The other portion of my post was that Donald in many ways is basing his run for the presidency on a basic premise 'The Donald is the Best Businessman' and earns money hands over fists. And that this extraordinary business acumen will translate to running the US government. But the more times we learn about bankruptcies, business scams, taking huge losses in boom years, the more those color our view of Donald as something of a shyster, someone who could end up causing huge problems to our economy, the exact area he proclaims to be the best at.
Click to expand...


All of these claims are speculation honestly, as even in the article the wording was "may". There is no real proof yet.

Put that with him using tax law to his advantage I don't care and neither should anyone else who could do the same thing if they wanted.

Business is cutthroat and with as many business ventures and investments this guy has had its no wonder some have failed. But also some have massively succeeded and we have proof of that; the guy is very successful and wealthy. His overal average of business success seems to be above average to me. Have no issues with him coming in and fixing our fucked up government.

People complain about his taxes but it's the tax code approved and written by the typical career politicians that have been in office for that last X amount of years... yes including the people's champ Hillary. She is a hypocrite and she is part and cause of this problem. But most liberals are too tunnel visioned to put this correlation together.

Out with the old guard and time to shake things up.
 
For the accountant types out there... he could have had $1B in losses due to depreciation alone. That wouldn't say squat about his ability as a businessman - in fact it would say he's brilliant at it.

Prior to the Reagan tax cuts, tax law was quite different regarding real estate and NYTimes isn't going to talk about that. For every ~$3500 in income, a rich person needed $100K in real estate to pay $0 in tax due to depreciation. That deduction was eliminated as part of the tax cuts - the RICH had to pay (more) in taxes.

In Vegas, they build casinos that cost multiple $billions. A sub $1B loss in an environment when banks and S&Ls were going belly up doesn't speak to success at all.

Obama lost $500M+ on Solyndra alone, and another $500M+ on Fisker Automotive. And he left us $10T more in debt when he left. Why do you think trusting liberal politicians is any better?

There are better reasons to not vote for Trump. He's a racist. Good enough for me.

For the accountant types:

How can capital losses wash ordinary income as the NYTimes claims?

My understanding is that it can only wipe out capital gains going forward.
 
Last edited:
http://www.forbes.com/sites/jeffrey...orate-taxes-reaches-record-high/#3c1e58f26577

New York Times Hypocrisy On Corporate Taxes Reaches Record High
JAN 31, 2016 @ 12:00 PM

Apparently, The New York Times believes companies should take no actions in order to lower their tax rates. In fact, the editorial makes clear that the Times is particularly incensed at Johnson Control’s maneuver because the auto bailout used taxpayer money to keep Chrysler and GM in business, indirectly benefiting Johnson Controls who sold them auto parts. At this point, I would normally launch into an explanation about how corporations have no obligation to pay taxes and that it is government’s fault if it offers companies tax breaks or leaves loopholes in the tax code.

However, I do not need to lecture The New York Times on that topic because it knows that lesson well. After all, the newspaper of record has its headquarters in a building built on landseized by the government under the power of eminent domain from ten different owners, some of whom did not want to sell, implying that the government exercise of power saved the developer money. In addition to that benefit, The New York Times alsoreceived $26 million in tax breaks in exchange for keeping jobs in New York City.

More recently, for tax year 2014, The New York Times paid no taxes and got an income tax refund of $3.5 million even though they had a pre-tax profit of $29.9 million in 2014. In other words, their post-tax profit was higher than their pre-tax profit. The explanation in their 2014 annual report is, “The effective tax rate for 2014 was favorably affected by approximately $21.1 million for the reversal of reserves for uncertain tax positions due to the lapse of applicable statutes of limitations.” If you don’t think it took fancy accountants and tax lawyers to make that happen, read the statement again.

latest
 
I think giving us information so we can make a valid assessment of ones financial abilities is prudent. release the taxes and then we can make an informed decision as to Trumps money management.
 
Further said:
I think giving us information so we can make a valid assessment of ones financial abilities is prudent. release the taxes and then we can make an informed decision as to Trumps money management.
Click to expand...

I would like to think so, but his tax returns are also fodder for bullshit claims about his finances like this one :)

Tax returns are not true financial statements. A company can show lots of profit on its actual books while showing losses for tax purposes. In fact, when preparing a tax return, you want to show as little income (legitimately) as possible so you don't have to overpay taxes.


This is him signing his tax return:

48550944.cached.jpg
 
SlyPokerDog said:
He needs to release more tax returns,
Click to expand...

He hasn't released any yet. The times did.

Further said:
but someone who is worth millions, or possibly billions doesn't pay to support our troops, our schools, roads, hospitals, or anything yet still shits on gold toilets.
Click to expand...

Sounds like and emotional rant.


I can't understand the outrage here, losses offset profit. Is this new news to the liberal mind? How the hell else would you like it to work?
Sounds like you want a fixed tax for breathing.
 
If Clinton wasn't releasing taxes, you guys would scream. What is she hiding?
 
Denny pretty much put his dick In the liberal. Mouths. Staying true to his neutral area. But nice work.:)
 
You must log in or register to reply here.

Users who are viewing this thread

Total: 1 (members: 0, guests: 1)
Back
Top