Decade in the Red

T

transporter

Well-Known Member
The great self proclaimed businessman...:killingme:killingme:killingme:killingme

The one you all fawn over and bow before all day long...

Decade in the Red: Trump Tax FiguresShow Over $1 Billion in Business Losses
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.

...

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.

Over all, Mr. Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years. It is not known whether the I.R.S. later required changes after audits.

...

But in the granular detail of tax results, it gives a precise accounting of the president’s financial failures and of the constantly shifting focus that would characterize his decades in business. In contrast to his father’s stable and profitable empire of rental apartments in Brooklyn and Queens, Mr. Trump’s primary sources of income changed year after year, from big stock earnings, to a single year of more than $67.1 million in salary, to a mysterious $52.9 million windfall in interest income. But always, those gains were overwhelmed by losses on his casinos and other projects.

The new information also suggests that Mr. Trump’s 1990 collapse might have struck several years earlier if not for his brief side career posing as a corporate raider. From 1986 through 1988, while his core businesses languished under increasingly unsupportable debt, Mr. Trump made millions of dollars in the stock market by suggesting that he was about to take over companies. But the figures show that he lost most, if not all, of those gains after investors stopped taking his takeover talk seriously.
Click to expand...
 
Bird Dog

Bird Dog

Bird Dog
PREMO Member
It’s really sad when you as the “ignoranty” do not understand that you cannot write off profits and taxes paid on them, unless you have already paid taxes on them.

You are F’in clueless
 
T

transporter

Well-Known Member
Bird Dog said:
It’s really sad when you as the “ignoranty” do not understand that you cannot write off profits and taxes paid on them, unless you have already paid taxes on them.

You are F’in clueless
Click to expand...

WTF are you talking about????

The basic equation is so simplistic even a chucklehead should e able to understand: Income - cost = net gain

When cost exceeds income, then you have a net loss.

When you have a NET LOSS, THERE ARE NO PROFITS. Therefore there are no taxes on the profits because THERE ARE NO PROFITS.

You cannot have profits WHEN YOU LOSE MONEY.

God damn...you are calling me clueless and you can't understand an equation that requires nothing more than a kindergarten level of understanding?? :killingme:killingme:killingme:killingme

Thanks, for playing, I guess. Maybe you should read the article next time???

Donald Trump had no profits for 10 years. When everyone was making money he was losing at a rate greater than any other American taxpayer at the time. While he was losing money hand over fist for 10 years, he published The Art of the Deal. The book that convinced spitbubble and many of the rest of you morons to vote for this man in the primaries. Spitbubble and the rest of you were to f***ing clueless to understand that everything about Donald Trump is a lie.

That complete dumbass Gilligan still says "You can't tell anything from tax returns". The hell you can't. And this report doesn't even contain the schedules from the tax returns! Donald Trump was a complete failure as a businessman. His only profitable characteristic is his penchant for lying. That is the only actual skill the man seems to possess.

This is the guy you morons think will "drain the swamp". Donald Trump IS the swamp. Always has been. Always will be.
 
Midnightrider

Midnightrider

Well-Known Member
Bird Dog said:
It’s really sad when you as the “ignoranty” do not understand that you cannot write off profits and taxes paid on them, unless you have already paid taxes on them.

You are F’in clueless
Click to expand...
Businesses pay their taxes after the fact. They don’t usually pay in advance. he didn’t ‘already pay taxes’ on anything.
 
TCROW

TCROW

Well-Known Member
This aged well.
 

Attachments

  • 96118D9F-C340-4F21-BF0F-C7C584505A66.jpeg
    96118D9F-C340-4F21-BF0F-C7C584505A66.jpeg
    258.1 KB · Views: 147
awpitt

awpitt

Main Streeter
Yooper

Yooper

Up. Identified. Lase. Fire. On the way.
transporter said:
The great self proclaimed businessman...
Click to expand...

Seems to me to be a pretty good sales job if things were so terrible yet he managed to pull it all off. One could be legitimately proud of this rags to riches story, eh?

transporter said:
...requires nothing more than a kindergarten level of understanding??
Click to expand...
Well, speaking of kindergarten, you do realize the article (and your post) are straight out of junior high in its (and your) not-so-clever attempt to ridicule. A form of the "Reductio ad ridiculum ('Appeal to ridicule') fallacy" (link). Like in junior high, great and very effective if you can pull it off, but a mess if you can't. Here we have the latter, not the former.

What makes it really ridiculous is that the NYT is using its position as The Gray Lady to add gravitas to what is essentially a gossip piece. This is a use of the logical fallacy, "Appeal To Accomplishment" (link).

These ploys are so transparent that even a kindergartener can see through it.

Truly, truly pathetic.

--- End of line (MCP)
 
Midnightrider

Midnightrider

Well-Known Member
awpitt said:
The 1040-ES is nothing more than a method to withhold your own taxes when you're not a "W-2" employee. It's not paying your taxes in advance.



https://www.irs.gov/forms-pubs/about-form-1040-es
Click to expand...
not to mention if your tax liabilty was zero for the prevsious year you dont have to pay any estimated taxes.

Buy the reality is that estimated taxes are taxes you are paying on money that you earned in the last quarter. You are not paying your taxes ahead of time.
 
awpitt

awpitt

Main Streeter
Midnightrider said:
not to mention if your tax liabilty was zero for the prevsious year you dont have to pay any estimated taxes.

Buy the reality is that estimated taxes are taxes you are paying on money that you earned in the last quarter. You are not paying your taxes ahead of time.
Click to expand...


Exactly. Like I said, estimated taxes are just a different way of withholding taxes (already due) if you're not a W-2 employee. In fact, if you're not a W-2 employee and you don't pay estimated taxes through the year, you can be subject to a penalty when it comes time to file your tax return on Apr 15th.
 
Clem72

Clem72

Well-Known Member
I'm too lazy to actually go read several articles from multiple sources on this information to be informed, so can someone clue me in.

This is just specific tax information covering the very public knowledge that Trump lost a shet-ton of money in the 80s and 90s, correct? As far as I am aware this doesn't relate to his current financial position (after dumping the casinos, post tv shows, and having more successful real estate ventures such as his golf courses and Trump tower).

So we still don't actually have any clue what kind of wealth he has or their sources. Is he a bad business man because he squandered a fortune on bad business decisions in the past, or a good businessman because he built his wealth back up after those setbacks? Does he only do well in real estate and TV, or have any of his other ventures worked out?
 
B

Bushy23

Active Member
Clem72 said:
I'm too lazy to actually go read several articles from multiple sources on this information to be informed, so can someone clue me in.

This is just specific tax information covering the very public knowledge that Trump lost a shet-ton of money in the 80s and 90s, correct? As far as I am aware this doesn't relate to his current financial position (after dumping the casinos, post tv shows, and having more successful real estate ventures such as his golf courses and Trump tower).

So we still don't actually have any clue what kind of wealth he has or their sources. Is he a bad business man because he squandered a fortune on bad business decisions in the past, or a good businessman because he built his wealth back up after those setbacks? Does he only do well in real estate and TV, or have any of his other ventures worked out?
Click to expand...

He "built" his wealth back up thanks to the Russians that now own him

https://www.newsweek.com/trump-sold...an-oligarch-100-million-and-democratic-802613
 
S

Sapidus

Well-Known Member
Clem72 said:
I'm too lazy to actually go read several articles from multiple sources on this information to be informed, so can someone clue me in.

This is just specific tax information covering the very public knowledge that Trump lost a shet-ton of money in the 80s and 90s, correct? As far as I am aware this doesn't relate to his current financial position (after dumping the casinos, post tv shows, and having more successful real estate ventures such as his golf courses and Trump tower).

So we still don't actually have any clue what kind of wealth he has or their sources. Is he a bad business man because he squandered a fortune on bad business decisions in the past, or a good businessman because he built his wealth back up after those setbacks? Does he only do well in real estate and TV, or have any of his other ventures worked out?
Click to expand...
That’s the thing. There is no indication “he built his wealth back up”. We only have his word for it. The only indication is that he got bailed out by Russian banks which he is now beholden to
 
Yooper

Yooper

Up. Identified. Lase. Fire. On the way.
Bushy23 said:
He "built" his wealth back up thanks to the Russians that now own him

https://www.newsweek.com/trump-sold...an-oligarch-100-million-and-democratic-802613
Click to expand...
I hope this is a sarcastic post, because the linked article is a hot mess.

The gist of the article is that Trump's been in the pocket of the Russians since 2008? Ridiculous.

First of all, I recall President Obama telling Mitt Romney in 2012 that the Cold War wanted its foreign policy back. Even before that Clinton in 2009 hit that famous reset button (btw, her translators botched the word for "reset"). Why? Because all was well with the Russkies. And this was AFTER 2008.

And didn't Clinton et company successfully push through that Uranium One deal in 2013 b/c we were now (or still) global partners with Russia?

So it's okay for Obama & Clinton then, but not now with Trump?

Sorry, but one can't have it both ways.

Boy oh boy, if selling things to Russians at a profit is a problem then we are in real trouble.

Not only should we reopen the Uranium One sale (maybe get HRC on the stand?), we might want to cast a permanent jaundiced eye toward the UK as it seems half that country (our supposed most trusted ally) has been bought up by the Russians.

Hmmm, if that's the case....

Is Newsweek telling us we've now found the missing connection between Christopher Steele (an ex-British spook) and the Russians in producing the "Trump dossier"? Because Russia has an undue influence over things British...?

In the end, I hope this is a sarcastic post. This Newsweek article is both silly and clearly part of a coordinated effort (along with the leaked Trump taxes NYT article) to get at Trump in a way the Dems in Congress can't.

I wouldn't be surprised if this actually is a coordinated effort between the MSM and the Dems. After all, Newsweek, the NYT, the WaPo, etc. continue to show they are nothing more than the agit/prop organs of the DNC.

--- End of line (MCP)
 
You must log in or register to reply here.
Top