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A smart business man does not lose a billion in one yr and have like 6 or so your business fail
But a grifter might con his other company to buy all the failing companies at a price he set while he collected millions in salary and claimed the paper loss as real tax deductions for up to 18 years.
For all of you criticizing Trump and his taxes and finances, I just have this to say: when you have built an empire like his, have had the same ups and downs in business, and have earned/made/lost/and still have as much money as he does, then I'll listen to you.
Until then y'all are just blowing a lot of hot air.
A smart business man does not lose a billion in one yr and have like 6 or so your business fail
It was pointed out to me yesterday, that Trump actually transferred that debt from his business loss to his personal income tax report. Marla's name was on that report..so it wasn't Business only losses! How does a Corporation transfer their business losses to personal losses for income tax purposes? In do so..he also benefited by those losses Corporate wise would only benefit @ 30% ..while personal tax obligation gets lowered to just over half that amount!
Quote:
Because of provisions in the tax code that allow wealthy individuals to offset their personal income with losses in various partnerships and business ventures, Trump could have used his losses in 1995 to avoid incurring tax liabilities on as many as three years of prior and 15 years of future profits.
Willing to bet his Accounting fee's are UUGE..but his Legal fees have only been a few hundred dollars for that past decades! It's not a wonder the proper paperwork wasn't done properly to allow his Trump Foundation to soliciting funds~~ It appears that the exposure of Trump's usage of those donations for personal gain uncovered the deception that's been going on for almost a decade! Sure it's political, BUT it's only political because his deceitful usage of Foundation piggy bank has been going on for years. Pay out other's people's $$$ for his personal use. I wouldn't call that smart much less genius. I call it a Deceit and since he claims he's a genius..HE SHOULD HAVE KNOWN!!
Quote:
According to The Washington Post, the Trump Foundation — despite “subsisting entirely” on donations running back to 2008 — never “registered under article 7A of New York’s Executive Law, as is required for any charity soliciting more than $25,000 per year from the public.”
Yes, like not paying his contractors and suing them if they complain. Hey, let's all not pay taxes, sound good?
This is what really cracks me up about about these guys saying, "well we all get all the tax breaks we can get, right"? As if they are satisfied with their puny mortgage deduction or whatever. They appear to be perfectly willing to pay federal taxes to cover the golden hindquarters of Donald Trump and the billionaire class.
Once up a time we worried about "no taxation without representation". Elect Mr. Trump and you can be assured that we will be right back there again, because I can guarantee that he will not be representing you if you make less than $1B a year. The bizarre part is that even when his supporters are presented with these facts, they do not see a problem with it. Somehow they think that that since the billionaire class is smart enough, and wealthy enough to take advantage of a tax code that is biased toward them, that is somehow admirable. They are perfectly happy to vote for a guy that will continue to enhance the ability of the billionaire class to fleece them.
This is what really cracks me up about about these guys saying, "well we all get all the tax breaks we can get, right"? As if they are satisfied with their puny mortgage deduction or whatever. They appear to be perfectly willing to pay federal taxes to cover the golden hindquarters of Donald Trump and the billionaire class.
Once up a time we worried about "no taxation without representation". Elect Mr. Trump and you can be assured that we will be right back there again, because I can guarantee that he will not be representing you if you make less than $1B a year. The bizarre part is that even when his supporters are presented with these facts, they do not see a problem with it. Somehow they think that that since the billionaire class is smart enough, and wealthy enough to take advantage of a tax code that is biased toward them, that is somehow admirable. They are perfectly happy to vote for a guy that will continue to enhance the ability of the billionaire class to fleece them.
Exactly and his own tax plan makes that clear.
Donald Trump’s tax plan now favors the ultra-rich even more
A smart business man does not lose a billion in one yr and have like 6 or so your business fail
I disagree. It's a simple question, does Trump have more or less then when he first started and how much is that amount. Trump has grown his millions he borrowed and inherited from his father and turn it into billions. Sure he has had major setbacks, but the $900~ million he lost isn't even a quarter of his networth. He survived his downturns and came back.
I don't agree with all of Trump business tactics, I do believe some are downright wrong and he has screwed people over. The number of lawsuits the man has been in is enormous, even for a major developer. The number of contractors, employees, and even staff on his campaign that have said he screwed them is a very long list.
Trump is a smart man, but his entire focus has been his own gain. He doesn't care about anyone else but himself and his stockholders. He is not someone I want to be president.
Whatever you, or anyone else thinks about The Donald's tax machinations, it appears the IRS has been crawling through his finances, and likely has been for decades. (Hint: want to draw an audit, try to take a billion dollar write off.) If they found anything criminal, we would have heard about it, likely long before he ran for president.
And if it all was legal, what responsibility does anyone have to not use this county's byzantine tax code to there maximum advantage? None.
Quote:
Originally Posted by Lyndarn
It was pointed out to me yesterday, that Trump actually transferred that debt from his business loss to his personal income tax report. Marla's name was on that report..so it wasn't Business only losses! How does a Corporation transfer their business losses to personal losses for income tax purposes? In do so..he also benefited by those losses Corporate wise would only benefit @ 30% ..while personal tax obligation gets lowered to just over half that amount!
Willing to bet his Accounting fee's are UUGE..but his Legal fees have only been a few hundred dollars for that past decades! It's not a wonder the proper paperwork wasn't done properly to allow his Trump Foundation to soliciting funds~~ It appears that the exposure of Trump's usage of those donations for personal gain uncovered the deception that's been going on for almost a decade! Sure it's political, BUT it's only political because his deceitful usage of Foundation piggy bank has been going on for years. Pay out other's people's $$$ for his personal use. I wouldn't call that smart much less genius. I call it a Deceit and since he claims he's a genius..HE SHOULD HAVE KNOWN!!
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