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

[Anonymous]

Anonymous wrote:

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

How much should he have paid?

If he's really a billionaire, more than $750, don't you think?

Taxes are based on income, not assets or wealth. As a real estate developer/investor, Trump would have significant depreciation and loss carry forwards that would allow him to dramatically (and legally) reduce his taxable income to include showing a loss. DH and I have a very similar tax situation.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

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

How much should he have paid?

If he's really a billionaire, more than $750, don't you think?

Taxes are based on income, not assets or wealth. As a real estate developer/investor, Trump would have significant depreciation and loss carry forwards that would allow him to dramatically (and legally) reduce his taxable income to include showing a loss. DH and I have a very similar tax situation.

For 18 years? Are you kidding me? That's not how taxes work. Seriously.

[Anonymous]

What’s the basis for people saying Trump is broke? Maybe he is but nothing about paying $750 in taxes says this. By most standards, DH and I are quite wealthy but most years we pay very little, if any, in taxes.

[Anonymous]

Anonymous wrote:What’s the basis for people saying Trump is broke? Maybe he is but nothing about paying $750 in taxes says this. By most standards, DH and I are quite wealthy but most years we pay very little, if any, in taxes.

Why do people hate the wealthy again, I can’t remember.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:After reading the story, I truly believe that he did NOT want to President. It was just a way to get his name out there. He was going broke and needed a boost.

The article also says that he is personally on the hook for about 500M in loans in 2022. He can't afford to lend his campaign money. He doesn't have any.

I think that’s right. He did it to boost his brand. But why run again then?!

He had to keep the con going.

And as a sitting president it would be hard to arrest him.

When you're well into dementia, you forget why you started something. He's running again because the rallies are fun.

There are several benefits. He has more defenses against legal proceedings against him, since he is the sitting president. He also has more resources at his disposal to fight them. He has also found a way to enrich himself, his family, and his cronies. Why stop a good scam, when you have several million in debts due in the next few years?

[Anonymous]

New book details the way Russians funneled money through Trump’s real estate empire using a money laundering middleman

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In a new book, investigative reporter Tom Burgis details the shocking ways in which corrupt leaders used Russian “businessman” Felix Sater to conduct sketchy deals, including ones for President Donald Trump.

According to the Daily Beast, Kleptopia: How Dirty Money is Conquering the World reports the “terrifying” and true tale of overwhelming corruption, “clandestinely fusing their business interests, and forming alliances.”


https://www.thedailybeast.com/the-k...g-middleman-who-did-deals-with-trump?ref=home

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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

How much should he have paid?

If he's really a billionaire, more than $750, don't you think?

Taxes are based on income, not assets or wealth. As a real estate developer/investor, Trump would have significant depreciation and loss carry forwards that would allow him to dramatically (and legally) reduce his taxable income to include showing a loss. DH and I have a very similar tax situation.

For 18 years? Are you kidding me? That's not how taxes work. Seriously.

That’s exactly how taxes can, and often do, work. I see it every day.

[Anonymous]

Anonymous wrote:Hollly shit.

Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.

He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.

As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.

I hope he has to pay one day. Although the IRS typically folds with these cases with high net worth individuals because they don’t have the manpower to fight an army of private lawyers.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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

How much should he have paid?

If he's really a billionaire, more than $750, don't you think?

Taxes are based on income, not assets or wealth. As a real estate developer/investor, Trump would have significant depreciation and loss carry forwards that would allow him to dramatically (and legally) reduce his taxable income to include showing a loss. DH and I have a very similar tax situation.

For 18 years? Are you kidding me? That's not how taxes work. Seriously.

This.

[Anonymous]

Anonymous wrote:Imagine if Obama had only paid $750. Fox and all of its idiot viewers would have flipped out. Everyone should go check out what they are reporting right now.

There’s always a tweet.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

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

How much should he have paid?

If he's really a billionaire, more than $750, don't you think?

Taxes are based on income, not assets or wealth. As a real estate developer/investor, Trump would have significant depreciation and loss carry forwards that would allow him to dramatically (and legally) reduce his taxable income to include showing a loss. DH and I have a very similar tax situation.

For 18 years? Are you kidding me? That's not how taxes work. Seriously.

That’s exactly how taxes can, and often do, work. I see it every day.

Please explain how Trump can be a successful businessman and claim losses for 18 out of 20 years.

[Anonymous]

Oops. The link in pp didn't work. This is the correct link

https://www.thedailybeast.com/the-kleptocrats-money-laundering-middleman-who-did-deals-with-trump?ref=home

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I'm guessing a lot of people have never taken depreciation on real estate.

I have. That's a lot of depreciation, but that isn't the only issue on his returns. He has huge debts. This is what I always thought. It just reinforces my belief that he is actually broke on paper, staying just one step ahead his creditors.

Leverage, like depreciation, is part and parcel of anyone who is in real estate. You may as well blame a hokey player for having skates and a stick.

Yeah, I get it. So why did he hide it? You and I both know there only two reasons, one of which has just been confirmed and the other is under investigation by the DA.

Because he knows that ignorant people like many people in this thread would not understand and become useful idiots to Democrats looking to vilify him.

Yup, I'm ignorant, and I vote. Sorry he was afraid to just tell the truth. That's even worse.

*shrug*, I commend you on taking your civic duties seriously. Regardless of how you decide who to vote for, the important things is that you give it some thought and participate in the process. The more people that do this, the less useful idiots there would be. The reason wealthy people who have not broken any laws keep their finances private is for the same reason why lawyers advise innocent people to not talk to the police without representation.

The reason politicians release their tax returns is so stupid people like me can see they are transparent. If you don't want to do this, don't go into politics. People might think yoi are hiding something. And apparently they'd be right. I assumed he paid $0 tax and he didn't want me to know that, and voted accordingly. Now I see he paid $0, he's right, I don't like it, and I'm still voting the same way.

Well, clearly, this thread proves that you are wrong. As you can see from the reactions in this thread, people are accusing Trump of breaking the law due to their lack of understanding of real estate investments, depreciation, and debt leverage. I grant that the lay person can understand other people's tax returns which are similar to theirs - within a few multiples, but not an order of magnitude or more. Heck, I would even grant that most people would be able to digest financial information if they could rely on a fair and balanced media to provide useful analysis and context. We are in an environment where the media is there to hide/distort the truth on both sides - Fox, MSNBC, CNN, and NYT, to name a few. The common lay person simply has no relevant knowledge or reliable authority to make any meaningful judgement on the information. Again, the wild accusations thrown around in this thread *PROVES* this point.

Oh look, one of Trump's propaganda staff is on DCUM.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I'm not surprised, he's always been a showman.

But did he actually break any laws over the taxes? I thought people were expecting tax fraud? So far there isn't any that I can tell.

Did you was the whole article?

Yes. And there's nothing to show he broke laws.

I thought the tax returns were supposed to show stuff that he'd go to prison for. Maybe I was wrong. But so far nothing we've seen shows Trump breaking laws. He did file his returns, he didn't commit tax fraud.

[Anonymous]

It's not the taxes he hasn't paid. It's the debts coming due. He's broke. He's f*cked, and about to be even more f*cked.