Trump's Taxes

[ZiprHead]

What we’ve learned from Trump’s tax returns - Gifted Article

Thousands of pages of Donald Trump’s tax returns shed some light on his extensive business empire, both before and during his presidency, as well as his changing fortunes during his time in the Oval Office.

While Trump endured sizable financial losses in the two years before entering the White House, he had an adjusted gross income of $15.8 million during his first three years as president when he paid $1.1 million in federal income tax.

In his final year in office, 2020, he paid no income tax, according to his tax returns that were released Friday by the House Ways and Means Committee. Democrats spent years pursuing the financial documents that previous presidents and White House candidates voluntarily released.

Here is some of what we learned when the returns were first made public Friday.

What Trump's disclosure of his 500 LLCs can and can't tell us

What Trump's disclosure of his 500 LLCs can and can't tell us about his income and his businesses.

www.nbcnews.com

 

[ZiprHead]

Trump Declared In Presidential Debate He Shut Down Chinese Bank Account. He Didn't.

The Trump Organization also collected millions in income from more than a dozen foreign nations while Trump was president, according to his tax returns.

news.yahoo.com

Trump, who had accounts in a number of countries and collected income from more than a dozen foreign nations while in office, paid more in taxes in 2020 to the Chinese government than he did in American federal income tax that year, his returns revealed.

 

[ZiprHead]

Trump’s Taxes Are the Best Case Yet for Putting Him in Prison

Photo Illustration by Luis G. Rendon/The Daily Beast/GettyDon’t let the cynics who know little about our tax system trick you into thinking there was nothing all that new or important in the six years of Donald Trump’s taxes released Friday by the House Ways and Means Committee.In fact, even if...

news.yahoo.com

Don’t let the cynics who know little about our tax system trick you into thinking there was nothing all that new or important in the six years of Donald Trump’s taxes released Friday by the House Ways and Means Committee.

In fact, even if some of it was previously teased by the committee, the dump includes a cornucopia of information that affects your wallet—including powerful evidence of criminal tax evasion.

Among other things, Trump’s tax returns make a strong case for restoring the law that until 1924 made all income tax returns public. Newspapers back then ran long lists showing the income of and taxes paid by the wealthiest Americans.

 

[Harry Bosch]

To me, the interesting aspect of Trumps taxes is that it shows how much of a loser he is! Who couldn't manage a casino without wild profits. And yet, he lost many million of dollars.

 

[ZiprHead]

To me, the interesting aspect of Trumps taxes is that it shows how much of a loser he is! Who couldn't manage a casino without wild profits. And yet, he lost many million of dollars.

The thing is that he probably didn't lose millions other than on his tax returns. Real estate has always been a great way to avoid taxes.

 

[Harry Bosch]

To me, the interesting aspect of Trumps taxes is that it shows how much of a loser he is! Who couldn't manage a casino without wild profits. And yet, he lost many million of dollars.

The thing is that he probably didn't lose millions other than on his tax returns. Real estate has always been a great way to avoid taxes.

It appears to me that his biggest writeoffs in his recently leaked taxes came from NOL (net operating losses) from his casinos.

 

[ZiprHead]

To me, the interesting aspect of Trumps taxes is that it shows how much of a loser he is! Who couldn't manage a casino without wild profits. And yet, he lost many million of dollars.

The thing is that he probably didn't lose millions other than on his tax returns. Real estate has always been a great way to avoid taxes.

It appears to me that his biggest writeoffs in his recently leaked taxes came from NOL (net operating losses) from his casinos.

Casinos are notable money machines. You'd have to be a real moron to lose owning a casino.

Who were we talking about again? Oh, yeah. A moron.

 

[bilby]

Casinos are notable money machines. You'd have to be a real moron to lose owning a casino.

"I've discovered the perfect business. People swarm in, empty their pockets, and scuttle off!" - C. Montgomery Burns, owner of the Springfield Casino.

 

[Elixir]

Casinos are notable money machines. You'd have to be a real moron to lose owning a casino.

"I've discovered the perfect business. People swarm in, empty their pockets, and scuttle off!" - C. Montgomery Burns, owner of the Springfield Casino.

The Casino was perfected during lockdown: no need to get out of your car, our people will come out to the curb and you just give them your money.

 

[Ford]

Casinos are notable money machines. You'd have to be a real moron to lose owning a casino.

"I've discovered the perfect business. People swarm in, empty their pockets, and scuttle off!" - C. Montgomery Burns, owner of the Springfield Casino.

I remember my first trip to Vegas. Summer of 1986. Stayed at the Stardust, went to see a show at the Dunes (or was it the Sands?), and my buddy and I walked down the strip to see the fountains outside Caesar's Palace. He looked at it and said "someone paid for all of that."

How does one fail at this business except by complete and utter incompetence?

 

[Loren Pechtel]

Casinos are notable money machines. You'd have to be a real moron to lose owning a casino.

"I've discovered the perfect business. People swarm in, empty their pockets, and scuttle off!" - C. Montgomery Burns, owner of the Springfield Casino.

I remember my first trip to Vegas. Summer of 1986. Stayed at the Stardust, went to see a show at the Dunes (or was it the Sands?), and my buddy and I walked down the strip to see the fountains outside Caesar's Palace. He looked at it and said "someone paid for all of that."

How does one fail at this business except by complete and utter incompetence?

Actually, lots of people don't do too well at that--there's a lot of competition for having the "best" that consumes the otherwise considerable profits to be had. Given the amount of time they spend here CDI probably knows this town like the back of their hand. Two buildings are currently being prepped for blowdown, although they're not on the strip so there's more space around them and thus it might be someone other than CDI doing it.

 

[Harry Bosch]

Casinos are notable money machines. You'd have to be a real moron to lose owning a casino.

"I've discovered the perfect business. People swarm in, empty their pockets, and scuttle off!" - C. Montgomery Burns, owner of the Springfield Casino.

I remember my first trip to Vegas. Summer of 1986. Stayed at the Stardust, went to see a show at the Dunes (or was it the Sands?), and my buddy and I walked down the strip to see the fountains outside Caesar's Palace. He looked at it and said "someone paid for all of that."

How does one fail at this business except by complete and utter incompetence?

Actually, lots of people don't do too well at that--there's a lot of competition for having the "best" that consumes the otherwise considerable profits to be had. Given the amount of time they spend here CDI probably knows this town like the back of their hand. Two buildings are currently being prepped for blowdown, although they're not on the strip so there's more space around them and thus it might be someone other than CDI doing it.

Agreed. As a business owner, I can attest that it is very difficult to run a business at a profit. Very difficult to do. Trump did have more advantages than some: a built in name and a very large family bank roll. The real deal here is that he's a shitty business person. He's failed in all his business interests except for the ones that don't require active management: ie his real estate holdings.

 

[Jimmy Higgins]

To me, the interesting aspect of Trumps taxes is that it shows how much of a loser he is! Who couldn't manage a casino without wild profits. And yet, he lost many million of dollars.

The thing is that he probably didn't lose millions other than on his tax returns. Real estate has always been a great way to avoid taxes.

From what I've read, his businesses lose money. His real estate? That'd be his inherited real estate is what has kept him partially afloat.

 

[jonatha]

I have always suspected that his claimed losses was money that wasn't really his to begin with. Partnerships can be structured to allocate a larger-than-proportionate share of losses to one partner...

There is (or can be) also a big difference between profit and cash flow.

 

[Oleg]

Good. Now we can see all that evidence of Russia Collusion that was promised.

 

[Gun Nut]

To me, the interesting aspect of Trumps taxes is that it shows how much of a loser he is! Who couldn't manage a casino without wild profits. And yet, he lost many million of dollars.

The thing is that he probably didn't lose millions other than on his tax returns. Real estate has always been a great way to avoid taxes.

No, he actually does have a well documented track record of failing businesses that really did lose money and fail... Trump University, Trump Steaks... OMG the casinos in Atlantic City alone! Trump Taj Mahal (Failed in 1991), Trump Plaza Hotel and Casino (Failed in 1992), Plaza Hotel (Failed in1992), Trump Castle Hotel and Casino (Failed in 1992), Trump Hotels and Casino Resorts (Failed in 2004), and Trump Entertainment Resorts (Failed in 2009).

 

[Gun Nut]

Good. Now we can see all that evidence of Russia Collusion that was promised.

BENGAZI!!
That's all I have to say... it says EVEYTHING.
By the way, have you read the report like your cult leader asked of you? READ THE REPORT!!
Hint: he knows the average education level of his cultists is about the 3rd grade, so "read the report" is no different than saying "it says exactly and only what I say it does". And the cultists just say, "I did my own research" (translation: I believe what someone in a Facebook group said)... but none of them read the report, which included some very concerning Russian-collusion related things.

 

[Oleg]

Good. Now we can see all that evidence of Russia Collusion that was promised.

BENGAZI!!
That's all I have to say... it says EVEYTHING.
By the way, have you read the report like your cult leader asked of you? READ THE REPORT!!
Hint: he knows the average education level of his cultists is about the 3rd grade, so "read the report" is no different than saying "it says exactly and only what I say it does". And the cultists just say, "I did my own research" (translation: I believe what someone in a Facebook group said)... but none of them read the report, which included some very concerning Russian-collusion related things.

So where is it? Can you post some examples? Or was Russia Collusion all just bullshit you accepted uncritically?

 

[Patooka]

Good. Now we can see all that evidence of Russia Collusion that was promised.

BENGAZI!!
That's all I have to say... it says EVEYTHING.
By the way, have you read the report like your cult leader asked of you? READ THE REPORT!!
Hint: he knows the average education level of his cultists is about the 3rd grade, so "read the report" is no different than saying "it says exactly and only what I say it does". And the cultists just say, "I did my own research" (translation: I believe what someone in a Facebook group said)... but none of them read the report, which included some very concerning Russian-collusion related things.

So where is it? Can you post some examples? Or was Russia Collusion all just bullshit you accepted uncritically?

Paul Manafort or George Papadopoulos could explain it to you. Ask them.

 

[Oleg]

Good. Now we can see all that evidence of Russia Collusion that was promised.

BENGAZI!!
That's all I have to say... it says EVEYTHING.
By the way, have you read the report like your cult leader asked of you? READ THE REPORT!!
Hint: he knows the average education level of his cultists is about the 3rd grade, so "read the report" is no different than saying "it says exactly and only what I say it does". And the cultists just say, "I did my own research" (translation: I believe what someone in a Facebook group said)... but none of them read the report, which included some very concerning Russian-collusion related things.

So where is it? Can you post some examples? Or was Russia Collusion all just bullshit you accepted uncritically?

Paul Manafort or George Papadopoulos could explain it to you. Ask them.

So nothing in the Trumps taxes? Nothing? What a let down.