Reply to Someone leaked Trump's 1995 tax returns

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]This thread underscores the reason why it's a bad idea for Trump to release his tax returns, because armchair CPAs and financial analysts will misunderstand the numbers and twist it to fit their existing viewpoint.

It's simply standard tax treatment that net operating loses of a company can be carried forward up to 20 years, offsetting future operating profits. The reason this is done is very simple, a company's activity may not be a smooth and even event, costs incurred and recognized in one year may not bring revenue until future years. Think of a startup that initially is spending a lot of efforts building a new product, but cannot make any money until the product is complete. It cost them 1 million dollars to create the product in the first year, and in the second year, they made 2 million dollars selling the product. Isn't it logical to allow the company to deduct the 1 million in cost from the 2 million in profit?

Anyone who is expressing outrage over Trump's carrying forward of net operating losses is simply not understanding basic tax accounting concepts. And anyone who disagrees with the tax law that allows carry forward of net operating losses does not understand how a business functions. [/quote]

The outrage is not about that.  It is about being very rich but contributing nothing, no taxes, no charity, nothing at all to the less fortunate.  It is about somebody who only thinks about himself 100% of the time.  That person would, with the power of the presidency, be able to act like those leaders in the 3rd world who steal all that they can steal.  It is also outrage about somebody who is not ashamed to say he is a great business man when he lost close to a billion dollars.  If he can hold his head up and say that, what other things can he do?[/quote]

PP here. How do you know he paid no taxes? How do you know he does not give to Charity? Do you have all of his tax returns? If not then you are guessing, like everyone else.

Everyone is selfish and greedy - it's a basic human trait and one of the cornerstones of capitalism. Sure he lost a billion dollars, but he had earned a billion dollars to lose. Why cherry pick his failures rather than view his level of business success as a whole? The fact is, Trump is a very successful business man despite his massive loss in 1995. Steve Jobs was kicked out of Apple at one point, and has very obvious character flaws, but who can deny his vision and effectiveness as a leader in growing Apple? [/quote]
+1,000,000 - Dems are mad at Trumps financial genius. 
Too bad.[/quote]lol., and there's the pro-Trump +1,000,000 poster!  :lol:  :lol:

Do you think Trump does his taxes?  It's his cpa that's smart, not him. I own a business, and my cpa does all my taxes, too.

He has also cheated NJ taxpayers by not paying the taxes that he owed from the casinos after his pal Christie widdled the payments down to a fraction. Gosh, you Trump supporters are so gullible.[/quote]

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