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

    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.


    https://www.nytimes.com/interactive/...ump-taxes.html


  2. #2

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    I was Trump 2020, until I saw his depreciated amortization schedule from 1989.
    If at first you don’t succeed, then maybe you just suck. – Kenny Powers

  3. #3
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    This is shocking news. I now patiently wait for AOC to turn 35 so I can work to elect her President. Until then it is Weekend all the way!
    Kingdom Warriors

  4. #4

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    Quote Originally Posted by Costa Rican Gopher View Post
    I was Trump 2020, until I saw his depreciated amortization schedule from 1989.
    The 1985 tax law changed real estate depreciation schedules from 15 and 19 years to 39.5 years, so depreciation wasn't going to shelter much cash flow if there had been any. I don't know about the depreciation schedules of airplanes, especially used ones, but we know that he lost his ass on the Trump Shuttle. We know that he lost other people's money on the casinos. We know that he lost his ass on the football team. We know that he lost his ass on the hotel. He made some money on the book and that was about it.

    His losses in that period were not paper losses, they were based on foolish business practices.

    Trump has always engaged in foolish business practices. The question is, after Fred died, who has funded the lifestyle and the mirage?

  5. #5

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    So can someone tell me again the real purpose for getting Trump's tax returns??

  6. #6

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    Trump: I reported losses on my tax returns on purpose!

    Also Trump: The article that says I reported losses on my tax returns is Fake News!


  7. #7

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    OP seems unaware that this EXACTLY proves the point of the tax return requests. It ain't Russian collusion, it's basic politics, and open for attack. That's why from the beginning, back when I was a never Trumper, I wouldn't have released them if I were him. It is a classic no win situation. Really rich and successful? Attack. Loses money! Attack. Moderately successful? Attack. Howie couldn't have negated his own argument any more beautifully.

  8. #8

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    Quote Originally Posted by justthefacts View Post
    Trump: I reported losses on my tax returns on purpose!

    Also Trump: The article that says I reported losses on my tax returns is Fake News!

    I'm sure that he got some shelter from depreciation, though it was a lot less in the late 80's than the early 80's. He also generated real losses through the expense of construction and expensing rather than amortizing capital improvements, which is shady but developers try it. However, if his projects were successful his losses wouldn't be so severe and they wouldn't be so consistent. If you have real tenants paying real rent in buildings that are substantially occupied, you won't see those kinds of losses. If you have enough people gambling in your casinos, you won't see these kinds of losses. If you have enough people flying on your planes, you won't see these kinds of losses. If you have enough people watching your football team, you won't see these kinds of losses.

    He kept getting baled out. By whom?

  9. #9

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    Quote Originally Posted by Section2 View Post
    OP seems unaware that this EXACTLY proves the point of the tax return requests. It ain't Russian collusion, it's basic politics, and open for attack. That's why from the beginning, back when I was a never Trumper, I wouldn't have released them if I were him. It is a classic no win situation. Really rich and successful? Attack. Loses money! Attack. Moderately successful? Attack. Howie couldn't have negated his own argument any more beautifully.
    The Dems are getting good at ‘damned if you do, damned if you don’t’ logic.

    Nancy Pelosi gave up on trying to tell loudmouth Dems calling for impeachment to shut up. Instead, she blames Trump for “goading” Dems into impeachment talk.

    https://nypost.com/2019/05/07/pelosi...o-impeach-him/

    “Trump — I use his name — Trump is goading us to impeach him,” she said. “That’s what he’s doing. Every single day, he’s just like taunting, taunting, taunting.”

    Pelosi said Trump “knows that it would be very divisive in the country, but he doesn’t really care. He just wants to solidify his base.”

    She said the Democrats will not fall into that trap.

    “We can’t impeach him for political reasons, and we can’t not impeach him for political reasons...”


    She apparently left out the part about him being an evil genius.

  10. #10

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    Quote Originally Posted by jamiche View Post
    He kept getting baled out. By whom?
    Putin, obviously.

  11. #11

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    Quote Originally Posted by KillerGopherFan View Post
    Putin, obviously.
    I thought Trump had to bail putin out or putin would release the pee tape?
    Who hates iowa?

  12. #12

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    Quote Originally Posted by jamiche View Post
    I'm sure that he got some shelter from depreciation, though it was a lot less in the late 80's than the early 80's. He also generated real losses through the expense of construction and expensing rather than amortizing capital improvements, which is shady but developers try it. However, if his projects were successful his losses wouldn't be so severe and they wouldn't be so consistent. If you have real tenants paying real rent in buildings that are substantially occupied, you won't see those kinds of losses. If you have enough people gambling in your casinos, you won't see these kinds of losses. If you have enough people flying on your planes, you won't see these kinds of losses. If you have enough people watching your football team, you won't see these kinds of losses.

    He kept getting baled out. By whom?
    Isn't it obvious? The Kremlin, despite going bankrupt in the early 90s, has been subsidizing Trump to the tune of billions of dollars, brilliantly predicting that he would become president decades later and reduce sanctions against Russia. This is 1+1=2 kind of stuff.

  13. #13
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    Quote Originally Posted by Costa Rican Gopher View Post
    I was Trump 2020, until I saw his depreciated amortization schedule from 1989.
    Yeah. It's a billion dollars of depreciation. He didn't have the 100% depreciation tax break until the 2017 bill. (Too bad they screwed it up in their rush to pass it. Oops.)

  14. #14
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    Quote Originally Posted by jamiche View Post

    Trump has always engaged in foolish business practices. The question is, after Fred died, who has funded the lifestyle and the mirage?
    Friends and Comrades from around the world.

  15. #15

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    Bfd.

    Sent from my LM-X410(FG) using Tapatalk
    If at first you don’t succeed, then maybe you just suck. – Kenny Powers

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