The BIG ONE: 20 years of Trump taxes obtained by NYTs

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:FORBES: Donald Trump Has At Least $1 Billion In Debt, More Than Twice The Amount He Suggested
https://www.forbes.com/sites/danalexander/2020/10/16/donald-trump-has-at-least-1-billion-in-debt-more-than-twice-the-amount-he-suggested/#393916de4330
The president’s liabilities are spelled out in dozens of documents, published here.

No aspect of Donald Trump’s business has been the subject of more speculation than his debt load. Lots of people believe the president owes $400 million, especially after Trump seemed to agree with that figure on national television Thursday night. In reality, however, he owes more than $1 billion.

The loans are spread out over more than a dozen different assets—hotels, buildings, mansions and golf courses. Most are listed on the financial disclosure report Trump files annually with the federal government. Two, which add up to an estimated $447 million, are not.

Did you read the whole this? He has a net worth of 2.5 billion according to this report

Not in cash. That is the estimated value of his properties. But a lot of them are money losers and probably not worth the estimate.

Don’t confuse assets with liquidity. I’m a multimillionaire but not much is liquid. Liquidity is important.

This. If you’re illiquid, creditors start seizing assets often for a fraction of their paper value.

Trump is highly illiquid. That’s a big problem when you have a house of cards.

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.motherjones.com/politics/2020/10/people-keep-asking-who-trump-owes-400-million-to-thats-not-the-real-problem/?utm_source=facebook&utm_campaign=naytev&utm_medium=social&fbclid=IwAR0rl3xZ2VDK_ptciZsefW2hk9NgyE7YBUBs0PWIkMld-k-cnGmNpNSZZkQ

The real issue is this: How does Trump—whose businesses were faltering before the coronavirus pandemic and have been battered since then—plan to handle these soon-to-be-due debts?

The Times story, based on an analysis of his tax returns, portrayed a man who gets cash windfalls—from his father’s estate, from his work on the Apprentice, and from various endorsement and licensing deals—and then immediately blows it and needs to go searching for money. A number of Trump’s properties are far from profitable and some, like his Scottish resorts, are hemorrhaging cash.

Paying the loans off, in other words, doesn’t seem like an option. His last financial disclosure shows that at the end of 2019 Trump had anywhere between $46.7 million and $156.6 million available in checking or money-market accounts. He does of course have assets he could sell. Indeed, prior to the pandemic, the Trump Organization was floating the sale of its DC hotel, and, more recently, Trump’s company has talked of selling a Westchester estate that Trump unsuccessfully tried to turn into a golf course.

If Trump can’t pay off the debts, he needs to refinance them. But banks were not keen on dealing with Trump before he became president. Who on Earth would lend Trump money now? As we reported this summer:

Nancy Wallace, a real estate finance professor at University of California, Berkeley’s Haas School of Business, says the scrutiny that Deutsche Bank has faced may scare off other banks. “I think any bank I can think of in the United States would have exactly the same response: He is toxic. Exposing yourself to that kind of oversight under the current regulatory reality, for lenders who are large enough to provide capital to him, is just a nonstarter.”

Lol motherjones

Mother Jones is the truth. Real investigative journalism. So much so that Facebook rigged its algorithm against MJ, as reported today by the Wall Street Journal.

[Anonymous]

Whether or not the properties are mortgaged is largely irrelevant. The fact is that he is apparently personally liable for 400 million dollars. A "real estate guy"would normally not be personally liable for one cent of loans secured by the property. Real estate debt, except for the untrustworthy borrower, is inevitably non-recourse.

That's the rub.

[Anonymous]

So now Forbes says he is actually $1B in debt. If he is lying about the value of his assets (which we can assume he is), that’s a pretty hefty chunk of his net worth.


https://www.forbes.com/sites/danalexander/2020/10/16/donald-trump-has-at-least-1-billion-in-debt-more-than-twice-the-amount-he-suggested/#4353d1b94330

[Anonymous]

Anonymous wrote:So now Forbes says he is actually $1B in debt. If he is lying about the value of his assets (which we can assume he is), that’s a pretty hefty chunk of his net worth.


https://www.forbes.com/sites/danalexander/2020/10/16/donald-trump-has-at-least-1-billion-in-debt-more-than-twice-the-amount-he-suggested/#4353d1b94330

But I guess if he's worth $2.5B it's ok?

https://www.forbes.com/sites/danalexander/2020/09/28/yes-donald-trump-is-still-a-billionaire-that-makes-his-750-tax-payment-even-more-scandalous/#6281ae842885

[Anonymous]

Anonymous wrote:Whether or not the properties are mortgaged is largely irrelevant. The fact is that he is apparently personally liable for 400 million dollars. A "real estate guy"would normally not be personally liable for one cent of loans secured by the property. Real estate debt, except for the untrustworthy borrower, is inevitably non-recourse.

That's the rub.

Also, I've still not seen an answer to the question - why did Deutsche Bank continue lending Trump money even after he defaulted on previous loans? https://www.propublica.org/article/trump-inc-podcast-deutsche-bank-donald-trump

[Anonymous]

Anonymous wrote:

Anonymous wrote:https://www.motherjones.com/politics/2020/10/people-keep-asking-who-trump-owes-400-million-to-thats-not-the-real-problem/?utm_source=facebook&utm_campaign=naytev&utm_medium=social&fbclid=IwAR0rl3xZ2VDK_ptciZsefW2hk9NgyE7YBUBs0PWIkMld-k-cnGmNpNSZZkQ

The real issue is this: How does Trump—whose businesses were faltering before the coronavirus pandemic and have been battered since then—plan to handle these soon-to-be-due debts?

The Times story, based on an analysis of his tax returns, portrayed a man who gets cash windfalls—from his father’s estate, from his work on the Apprentice, and from various endorsement and licensing deals—and then immediately blows it and needs to go searching for money. A number of Trump’s properties are far from profitable and some, like his Scottish resorts, are hemorrhaging cash.

Paying the loans off, in other words, doesn’t seem like an option. His last financial disclosure shows that at the end of 2019 Trump had anywhere between $46.7 million and $156.6 million available in checking or money-market accounts. He does of course have assets he could sell. Indeed, prior to the pandemic, the Trump Organization was floating the sale of its DC hotel, and, more recently, Trump’s company has talked of selling a Westchester estate that Trump unsuccessfully tried to turn into a golf course.

If Trump can’t pay off the debts, he needs to refinance them. But banks were not keen on dealing with Trump before he became president. Who on Earth would lend Trump money now? As we reported this summer:

Nancy Wallace, a real estate finance professor at University of California, Berkeley’s Haas School of Business, says the scrutiny that Deutsche Bank has faced may scare off other banks. “I think any bank I can think of in the United States would have exactly the same response: He is toxic. Exposing yourself to that kind of oversight under the current regulatory reality, for lenders who are large enough to provide capital to him, is just a nonstarter.”

Lol motherjones

You laugh at mother jones, but if you read it, they are citing other articles and sources. So are you LOLing at THOSE sources too?

-DP

[Anonymous]

Anonymous wrote:

Anonymous wrote:Whether or not the properties are mortgaged is largely irrelevant. The fact is that he is apparently personally liable for 400 million dollars. A "real estate guy"would normally not be personally liable for one cent of loans secured by the property. Real estate debt, except for the untrustworthy borrower, is inevitably non-recourse.

That's the rub.

Also, I've still not seen an answer to the question - why did Deutsche Bank continue lending Trump money even after he defaulted on previous loans? https://www.propublica.org/article/trump-inc-podcast-deutsche-bank-donald-trump

Because they were directed loans backed by Russian oligarchs and their illegal monies.

[Anonymous]

This is simple.

Trump "I'm the best businessman ever"

Trump "Oh I don't owe $400 million"

Trump Mr Law and Order never pays his bills.

[Anonymous]

Anonymous wrote:

Anonymous wrote:So now Forbes says he is actually $1B in debt. If he is lying about the value of his assets (which we can assume he is), that’s a pretty hefty chunk of his net worth.


https://www.forbes.com/sites/danalexander/2020/10/16/donald-trump-has-at-least-1-billion-in-debt-more-than-twice-the-amount-he-suggested/#4353d1b94330

But I guess if he's worth $2.5B it's ok?

https://www.forbes.com/sites/danalexander/2020/09/28/yes-donald-trump-is-still-a-billionaire-that-makes-his-750-tax-payment-even-more-scandalous/#6281ae842885

He is barely hanging on to being on the Forbes 400 list. He would probably be off completely if he was transparent with the debt and assets he actually has. That would hurt his ego a lot to fall off that list!

[Anonymous]

Trump paid more in taxes to the Chinese Communist Party $188,561 than to the United States -$750.00

[Anonymous]

Anonymous wrote:In short, he’s a crook!

$750 in taxes paid the year he won presidency!

https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?referringSource=articleShare

Guarantee he paid more in taxes that year than you have in your life. Please educate yourself on taxes.

[Anonymous]

Anonymous wrote:

Anonymous wrote:In short, he’s a crook!

$750 in taxes paid the year he won presidency!

https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?referringSource=articleShare

Guarantee he paid more in taxes that year than you have in your life. Please educate yourself on taxes.

Do you have his tax returns? How can you guarantee this?

[Anonymous]

[Anonymous]

And the hits keep on coming...