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according to Forbes Trump is worth between 2 and 3 billion dollars. Quite humorous people on a message board claiming he's broke yet they can't even afford to stay overnight at one of his properties.....lmao
Forbes is estimating his net worth.
Liberals are also estimating his net worth based on taxes, which is just as flawed as how Forbes does it.
Fact is no one has a precise number, not even Trump. Real estate is at a high point, so he might get some value if he had to sell. If the real estate market crashes so does his net worth.
It is possible he has a high net worth but is cash poor.
It is possible he has a low net worth with debt close to equal to assets. Would it shock you if he aggressively went into debt to buy more properties and is now in a pinch?
It is possible he has lots of liquid assets (he does have some stocks for example) on hand and good net worth to off set debt.
thats what I mean. the 4 brackets/limited deductions is what he proposed.
No one was able to do their taxes on a postcard. It was on of many things Trump campaigned on but could not deliver then blamed everyone but himself for that failure.
But I was glad that the tax cuts happened. Would not have happened with Hillary. Not perfect but better than nothing. I was defending Trump on here left and right on here and in my life back them. Trump wears on you after a while. Clearly this is just all about him. The pandemic opened my eyes. Its not American first, its Trump first. Believe me I am far from the only who has come to this conclusion.
Elon Musk is not running for President. If he was running instead of Biden then there would be reason to bring that up.
The point is running up debt is the norm of running the business. Look at the S&P 500. How many companies have a debt vs. asset ratio less than 1? There are very few.
Trump having debt while running a business is a giant nothingburger.
Location: In a city within a state where politicians come to get their PHDs in Corruption
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Quote:
Originally Posted by BoBromhal
if Forbes/Fortune says he's worth $2B, and his entities owe $400MM and are making the required payments on those debts, is that in debt up to your eyeballs?
His entities don't just owe $400m, he's himself personally liable for $420M. That doesn't mean his entities don't owe more without a personal guarantee. Two different things.
And net worth figure? Compiled off of self-reported financial disclosures and best publicly available data. Highly subjective.
I mean he did file few actual bankruptcies. That's not disputable. I'm not sure then why it's so hard to believe Trump's self-reported wealth is debt fueled? And for a guy who claims he's successful and rich, wouldn't releasing his tax returns showing that strengthen his claim? Therefore his refusal to do so, in fact he's gone to great lengths to prevent that from happening could only mean one thing; disclosure of his tax returns would weaken his claim, rather than strengthen it.
His entities don't just owe $400m, he's himself personally liable for $420M. That doesn't mean his entities don't owe more without a personal guarantee. Two different things.
And net worth figure? Compiled off of self-reported financial disclosures and best publicly available data. Highly subjective.
I mean he did file few actual bankruptcies. That's not disputable. I'm not sure then why it's so hard to believe Trump's self-reported wealth is debt fueled? And for a guy who claims he's successful and rich, wouldn't releasing his tax returns showing that strengthen his claim? Therefore his refusal to do so, in fact he's gone to great lengths to prevent that from happening could only mean one thing; disclosure of his tax returns would weaken his claim, rather than strengthen it.
if Forbes/Fortune says he's worth $2B, and his entities owe $400MM and are making the required payments on those debts, is that in debt up to your eyeballs?
Forbes and Fortune DO NOT know how much Trump is worth.
The reports says:
- Trump is only making interest payment, not covering the principal.
- Trump sold over 99% of the stocks in his portfolio to service his debt. There is only $850k of stocks left in his account.
That sounds suspiciously like someone who is hemorrhaging cash. When you have to almost liquidate your stocks to pay debt and the payment only covers interest, that's a tell.
Trump is in way over his head and I think the whole scheme is going to be made public before long.
Quote:
The Campaign Legal Center, a nonpartisan campaign finance watchdog group, filed a complaint with the Federal Elections Commission Tuesday accusing the Trump campaign of “laundering” $170 million through numerous companies, some with connections to former Trump campaign manager Brad Parscale. https://www.forbes.com/sites/andrews...mpression=true
Liberals are also estimating his net worth based on taxes, which is just as flawed as how Forbes does it.
Why is it Liberals. I am not a Liberal yet I find this interesting. In 2016 on his disclosure form Trump listed his net worth at $10 billion.
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