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Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses

Discussion in 'Political Debate & Discussion' started by FollowTheWay, May 8, 2019.

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  1. FollowTheWay

    FollowTheWay Well-Known Member
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    Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses

    This is real picture of the flim-flam man. He's a complete fake. The people of NYC and NJ know that. They saw him in action.
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    By the time his master-of-the-universe memoir “Trump: The Art of the Deal” hit bookstores in 1987, Donald J. Trump was already in deep financial distress, losing tens of millions of dollars on troubled business deals, according to previously unrevealed figures from his federal income tax returns.

    Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. He has attributed his first run of reversals and bankruptcies to the recession that took hold in 1990. But 10 years of tax information obtained by The New York Times paints a different, and far bleaker, picture of his deal-making abilities and financial condition.

    The data — printouts from Mr. Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view. Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse.
    The numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade.

    In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 — more than $250 million each year — were more than double those of the nearest taxpayers in the I.R.S. information for those years.
     
  2. Adonia

    Adonia Well-Known Member
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    A complete fake? The man has done rather well for himself I think, especially when it comes to money. Hotel magnate, master builder, television star, and author are just a few of his many talents. And he won't be needing his Social Security check to survive like you and me either that's for sure. Oh, and he is also the PRESIDENT OF THE UNITED STATES the last time I heard.

    This is really old news, an attempt by the leftist NYT's to pile on the man. But tell me, in all your life have you never had any bad things concerning your finances happen to you? It's called "entrepreneurship" and that means taking risks to achieve success and not all ventures work out.

    The tax laws of this nation which are supported by many Democrats exist for the purpose of writing off of business losses so people like Mr. Trump can ultimately stay in business and continue giving employment to others. Mr. Trump has employed thousands of people through the years, quite unlike people like Biden or Clinton who have hooked onto government for their financial survival.
     
    #2 Adonia, May 8, 2019
    Last edited: May 8, 2019
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  3. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    Dirty deeds, done dirt cheap
    Dirty deeds, done dirt cheap
    Dirty deeds, done dirt cheap
    Dirty deeds and they're done dirt cheap
    Dirty deeds and they're done dirt cheap
     
  4. FollowTheWay

    FollowTheWay Well-Known Member
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    He lost $1B in ten years more than anyone else in the U.S.
     
  5. InTheLight

    InTheLight Well-Known Member
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    The idea that Trump "lost $1.17 billion in a decade" is false. The idea that he showed losses on his IRS tax returns is likely true. The phrase Trump "lost more money" than any other individual taxpayer is false, the key phrase being "lost money". No, Trump didn't "lose money", he depreciated property, a loss of money on paper only, probably under newly instituted accelerating depreciation tax codes.

    Please go read up on depreciation, how it is reported on tax returns, changes to the tax code regarding depreciation in the 1980's, then get back to us.
     
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  6. InTheLight

    InTheLight Well-Known Member
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    No. He showed losses on tax returns more than any other people's tax returns the NY Times had access to, in two years in the early 1990's.
     
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  7. Wingman68

    Wingman68 Well-Known Member
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    Takes money to make money. He’s still worth a billion even though he’s donating his salary every year. When did the last dim donate his salary?
     
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  8. FollowTheWay

    FollowTheWay Well-Known Member
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    he got his money from his Daddy as many rich people do. However, the question is does he have anything left or is he just playing 3 Card Monte with his losses?
     
  9. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    How much got sunk into that skank hole Atlantic City....have ya been there lately?
     
  10. Reynolds

    Reynolds Well-Known Member
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    He was heavily invested in Atlantic City and took major hits when Atlantic City imploded. Who cares except sufferers of TDS?
    I bet he is worth more money than you.
     
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  11. Wingman68

    Wingman68 Well-Known Member
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    Wrong again, grasshopper. BTW, JFK donated his salary, too bad he’d never cut it in your party today, & maybe even then.
     
  12. Wingman68

    Wingman68 Well-Known Member
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    Yeah, too bad he invested in New Jersey, period.
     
  13. Reynolds

    Reynolds Well-Known Member
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    When Will you learn that Dimmocrats do not care about facts?
     
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  14. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    Trump University ... shrewd LoL
     
  15. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    U
    yea he snip left (along with that fat blob Christy) holding the debt bag. :Laugh
     
    #15 Earth Wind and Fire, May 8, 2019
    Last edited by a moderator: May 8, 2019
  16. Earth Wind and Fire

    Earth Wind and Fire Well-Known Member
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    Trump steaks and vodka.... :p
     
  17. Wingman68

    Wingman68 Well-Known Member
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    Amusing how the Trump tax returns are of far greater interest to the left than the minimum of 33.5 billion that Obama ferreted off to the Iranians in the middle of the night. Where did he lay hands on that kind of cash? If it were above board I’m sure Trump would have just found some too, & had the wall built by now. The wall that will protect our sovereignty instead of the mountains of cash & gold that will be spent to destroy us. Dims are twisted sisters.
     
  18. Alcott

    Alcott Well-Known Member
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    How much does the government owe him in negative taxation?
     
  19. HankD

    HankD Well-Known Member
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    HEY - who cares if Daddy started him off and he knows how to make and lose billions (in the past)
    bring us more like President Trump to revitalize our economy (in the present)!
     
    #19 HankD, May 8, 2019
    Last edited: May 8, 2019
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  20. FollowTheWay

    FollowTheWay Well-Known Member
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    I lived for a long time about an hour and a half north of there but moved to Atlanta 12 years ago. No, I haven't been to AC in a long time but it was starting to go down when I lived in NJ. I would guess that Trump put a lot of money in AC. He then went bankrupt on his properties there and stiffed a number of contractors who had done work for him there.
     
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