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Yes. I'm in commercial finance. I started and sold a bank with a group of friends 15 years ago. Made a nice profit to.
And paid some taxes. Nothing wrong with that- I made money and reinvested money.
The irony in Trump's 'genius' is that he lost his a$$ even when his partners told him not to invest that much in the casino.
That's not genius. That's why he went bankrupt, multiple times. When Trump believes he is right, he throws all caution to the wind and ignores the advice of others. That is the story behind Trump 'the genius'.
That is business.
Big risks are taken to gain big benefits. When the economy tanks, location, location, location and is it something everyone needs, are king.
I lost my ass in late 2001 and it took until 2006 to get some stability back before Nancy Pelosi and Harry Reid, blew it up really good.
The tax code has long favored low income earners with dependents and very wealthy with certain Capital Gain situations.
Why would anyone begrudge another from using the tax code to reduce their tax obligation?
What matters is the size of Trump's loss.
What matters is Trump's 6, count them, 6 bankruptcies between 1991-2007, the first occurring less than 1 year of opening the Taj Mahal.
The most recent one also resulted in being removed as Chairman of the Board of his own company.
What's done is done. What is far more alarming is the unprecedented conflicts of interest a Trump win would mean. He owes $ billions to domestic and foreign banks. He has properties in the Middle East. What happens when the next Trump adventure blows and has to file for bankruptcy once again.
How many basis points off the interest rate on his loans will he get by repealing Dodd- Frank or closing an investigation of a bank he owes serious money to?
Why is he advocating for less banking regulation?
Relinquishing control of the empire to his children does nothing to avoid conflicts of interest.
On the flip side Hillary was an idiot for not closing the Clinton Foundation while SoS to avoid creating a perception of a conflict of interest. Instead they solicited donations from people who might reasonably expect quid pro quo. No way to prove or disprove Pay for Play. She deserve every bit of flack that comes her way because she did not avoid situations that created perceptions of conflict of interest.
His idea of big business was tell the NJ commission one thing (read- NO junk bonds) while doing another. He went forward when his partners said 'hey wait- this ain't going to work'. And in his wake he left a lot of people in financial ruin, and then paved the way to 're-brand himself' free from the yoke of taxation.
Not a great businessman. Well, only for himself, maybe.
To say he's some 'genius'? If you think ignoring the advice of your colleagues, assuming risky bets, stiffing your community and fellow business owners is somehow 'genius', well you have you're opinion and your entitled to it. I thought he was a scumbag in the 90's, and I still think he's a scumbag today. And he's got the track record to prove that to me.
I was in business to earn a profit, benefit my shareholders, customers and community. You know- a business.
His idea of big business was tell the NJ commission one thing (read- NO junk bonds) while doing another. He went forward when his partners said 'hey wait- this ain't going to work'. And in his wake he left a lot of people in financial ruin, and then paved the way to 're-brand himself' free from the yoke of taxation.
Not a great businessman. Well, only for himself, maybe.
To say he's some 'genius'? If you think ignoring the advice of your colleagues, assuming risky bets, stiffing your community and fellow business owners is somehow 'genius', well you have you're opinion and your entitled to it. I thought he was a scumbag in the 90's, and I still think he's a scumbag today. And he's got the track record to prove that to me.
I was in business to earn a profit, benefit my shareholders, customers and community. You know- a business.
Looks like Trump followed all the laws the Establishment has in place for the rich and famous.
Now, what would he want to change that?
Why would he change the advantage, the rich have over the middle class, so everyone has skin in the game?
"What matters is Trump's 6, count them, 6 bankruptcies between 1991-2007, the first occurring less than 1 year of opening the Taj Mahal."
OK, 6 bankruptcies. How many start-ups did he have during that period?
IIRC, his start-up to bankruptcy ratio is over 90%!
Yeah, 6 failures sounds pretty bad, if you conveniently forget to look at the successes!
the bottom line on the tax issue is: HE FOLLOWED EXISTING LAW, AND DID NOTHING ILLEGAL!
Just like the clintons, the obamas, the pelosis, the reids, and all the other millionaire politicians!
Mark Cuban apparently just Lovessss paying taxes .
This is interesting though
"It seems that Cuban’s business possibly did something similar to what Trump is accused of—claiming millions in losses to offset future taxation.
In 1998, Broadcast.com, a company that Cuban was both President and Chairman of the Board of at the time, claimed loss carryforwards of more than $10 million for 1997."
On the flip side Hillary was an idiot for not closing the Clinton Foundation while SoS to avoid creating a perception of a conflict of interest. Instead they solicited donations from people who might reasonably expect quid pro quo. No way to prove or disprove Pay for Play. She deserve every bit of flack that comes her way because she did not avoid situations that created perceptions of conflict of interest.
The rich and well to do can hire the best to help them hold onto their money.
I don't begrudge Trump or Clinton for working the system in fact I would think less of them for not doing it.
The problem as usual is the media that is demonizing Trump for taking advantage of the loop holes where Hillary has done the same and no one cares.
Most of the media has an 'OH' face when they hear Hillary's name.
They are the high school nerds doing homework for the cool kids hoping they might talk to them in the halls.
I can't see Hillary sitting at the dining room table filling out an 1040-EZ....
Why would Trump, even want to change what has been working well for him / his accountants and within the law? Why campaign to change all that to make taxes fair for everyone. Not just those with good accountants?
Hillary's accountants do exactly what Trumps accountants do.
Well, not exactly. From 2007 to 2014, the Clintons paid a total of $33 million in personal federal income tax - that averages out to nearly $5 million a year. And no one, including Trump, claims that they make more money than Trump does. http://www.businessinsider.com/bill-...million-2014-7
While we don't know what Trump paid during those years, there is some reason to suspect that the number could be darn close to zero.
Yes. I'm in commercial finance. I started and sold a bank with a group of friends 15 years ago. Made a nice profit to.
And paid some taxes. Nothing wrong with that- I made money and reinvested money.
The irony in Trump's 'genius' is that he lost his a$$ even when his partners told him not to invest that much in the casino.
That's not genius. That's why he went bankrupt, multiple times. When Trump believes he is right, he throws all caution to the wind and ignores the advice of others. That is the story behind Trump 'the genius'.
Paying taxes is "reinvesting money" now???
Do you statists really worship the government that much?
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