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“ Some [of the loans] are guaranteed by Trump himself, meaning a creditor could come after his personal—not corporate—assets if he defaults.”
Which raises the question: does Trump actually own any of his properties?
so you're confirming for us all that he doesn't personally owe $400MM.
No, he likely personally owns nothing more than 1 personal residence. Now, he may own 100% of some entity that owns property that has a mortgage. That financial disclosure that I linked should help you.
Trump knows his tax returns were eventually going to be an issue and it may ultimately go to the Supreme Court.
He also has sewed enough doubt in the election results (if they are not in his favor) to his supporters that the results will likely be contested and make its way to the Supreme court.
He also knows Republican packed branches of government will keep tax loop holes, reduce taxes on the wealthy and oppose anything that is considered liberal / progressive (i.e. closing tax loopholes and making the wealthy carry their load), even if it considered by most fair (i.e. a flat tax with no loopholes).
Trump is an opportunist and exploiter. He knows what he is doing and the big reason why he is packing the Supreme court and system in his favor.
Trump proposed 4 tax brackets and the elimination of all deductions except MID and charitable.
so you're confirming for us all that he doesn't personally owe $400MM.
No, he likely personally owns nothing more than 1 personal residence. Now, he may own 100% of some entity that owns property that has a mortgage. That financial disclosure that I linked should help you.
I’m not confirming anything.
He apparently personally guaranteed some of the loans.
What did he use as collateral?
The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.
Is the NYT going to explain how they obtained these records legally, or are we just supposed to presume that some people at the NYT and IRS will be going to prison?
I've served in the military and debt is a BIG no no for a security clearance of "Secret" and above. Being in the red with debt is a deal breaker. This is one of the main topics of a thorough investigation of family members and friends prior to getting a clearance. Debt is also one of the things that will cause one in the military to lose a clearance. The reason is debt makes someone vulnerable to intimidation, bribery and coercion. Think China buying out countries for future favors but at a personal level. No bueno!
Regardless of whether Trump committed tax avoidance or tax evasion (that is a separate serious issue), if Trump is really honestly and truly that much in debt, then he has no business holding a clearance and being briefed classified information.
I've served in the military and debt is a BIG no no for a security clearance of "Secret" and above. Being in the red with debt is a deal breaker. This is one of the main topics of a thorough investigation of family members and friends prior to getting a clearance. Debt is also one of the things that will cause one in the military to lose a clearance. The reason is debt makes someone vulnerable to intimidation, bribery and coercion. Think China buying out countries for future favors but at a personal level. No bueno!
Regardless of whether Trump committed tax avoidance or tax evasion (that is a separate serious issue), if Trump is really honestly and truly that much in debt, then he has no business holding a clearance and being briefed classified information. Being briefed on classified information is one of the requirements of the highest office of the United States. If he can not be briefed classified information, then he can not do his job fully. If he can not do his job fully, then he needs to get out, either voluntarily or like some of the troops I served with, security clearance revoked and then forced out.
Quote:
Originally Posted by bu2
The US is trillions in debt. General Motors has $88 billion in debt.
$400 million would be a lot for you and me, but not for a person who has a ton of real estate.
A Hollywood star might have a $20 million mansion with $10 million in mortgage debt. Is that a problem?
Exactly... for a minute there I thought he was gonna tell us Trump should resign because he's a risk to take a bribe and endanger our national security.
But he has self described $10 billion in assets. Why the co-signor?
I've been known to have patches of temporary financial embarrassment myself. There's no shame in it.
Banks are funny, though. They won't loan you a billion bucks based on your word and your good looks alone.
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