the great deal maker!
Red political, red in business.......
Daniel Hemel
The President is pretty much saying that he used transactions w/out economic substance to inflate basis, overstate depreciation, and bilk the IRS. If anyone doubted whether House Ways & Means had a compelling oversight reason to see Trump’s tax returns, here you go
@realDonaldTrump
Real estate developers in the 1980’s & 1990’s, more than 30 years ago, were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases. Much was non monetary. Sometimes considered “tax shelter,” ......
So the question is, what new scams did he come up with to avoid paying taxes since then? And are his fans still buying the “that makes me smart” excuse?
And also, why do I have to pay more taxes than this faux billionaire?
He will go down in history as a looser.....
Does this really come as any surprise for those of us that know how much of a con artist this POS is. The shit storm is really starting to spin out of control now.
Unfortunately, I think it will take a financial crises for some people to finally wake up.
@JackPedigo yes and we are starting to head in that direction from the sounds of it.
@mistymoon77 Maybe we should all empty our bank accounts and hide the money under the mattress. lol Although it wouldn't hurt to sash away a bit just in case.
I am watching an analysis of the details...as a tax accountant, I was able to surmise a lot from the leaked 1981 partial return...I am not surprised...
How does one make $53 million dollars in interest earnings? Who earned 14% on their cash in the last ten years? NO ONE....
@SeaGreenEyez Passive loss means he was able to live his high life while paying NO taxes...probably legal but disturbing to those who are way poorer and had to pay taxes on minimal income...some of it just does not fit the key parameters the IRS uses to detect anomalies...he is creating more questions than if he just had released them...but his ego would not allow it...I don't care how rich he is....I just want to know where the income is coming from...that makes sense and is numerically sound...seriously...$53 million in interest income means assets of $500 million paying 14%...NO WAY
Tom Nichols:
"Over all, Mr. Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years."
I guarantee you that the Trump cult will point to this as a mark of genius.
@jerry99 while those who made minimum wage and paid taxes are suffering...he is hiding the sources and that alone should be worrisome...I think his genius is continuing to fool so many people into thinking he is some sort of modern midas that they, too, can aspire to...he is a fraud who has conned so many
@thinktwice amazing how many people think he’s going to turn them all into billionaires, while he’s busy taking away their health care and other benefits.
@jerry99 looks like he even lied about that...how sad of a man to have to be so pretentious...no one really cares except for the lies and deception...he is a weak man...but he brought it all on himself
Only a complete fool would believe someone who says they have nothing to hide yet continue to hide what people need to know. How long will it take for people to wake up to this criminals posturings?
Brace yourself for a flurry of “fake news” tweets!
Donald J. Trump:
Real estate developers in the 1980’s & 1990’s, more than 30 years ago, were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases. Much was non monetary. Sometimes considered “tax shelter,” ......
Donald J. Trump
@realDonaldTrump
....you would get it by building, or even buying. You always wanted to show losses for tax purposes....almost all real estate developers did - and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!
in others words, he cheated on his taxes — bigly!
Shocker!
Seriously. Is anyone surprised by this?
Really?