- Thread starter Woodson Bible & Guns
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Creeper Joe
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Damn Trumpet paid only 750 dollars on his taxes... see artcle attchments
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Looks like its photoshopped cause it looks like a microphone and its impossible thar mic can go though his hand lol
cml750
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Yes that one is definitely photoshopped. I do not think he ever actually sniffed Greta Thunberg's hair. I put it more comedic value not because it is real.
cml750
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No laws were broken. It looks like he has good accountants. Nobody in their right mind calculates their income tax returns so that they have to pay more than necessary. That is why we need a simplified tax code to get rid of loopholes. A flat tax with the only deductions coming from charitable giving would work best.
The thing that should stand out is there are no ties to Russia in his income. If there was thats what the headline would have read. Just another nail in the coffin for the Russia hoax that was fabricated by people in our own government to spy on an American citizen who was running for POTUS and going even farther to keep it up even after he was in office. That is the biggest scandal in the history of this great country. When Trump wins re-election (to your chagrin) there will be a ton of indictments coming from the Durham probe into the origins of the fabricated Russia hoax. Kudos to them for waiting to after the election to come out with that report to keep it from being too political. Heads will roll. John Brennan will be in a lot of trouble and it will cement Obama's reputation for running the most crookedest administration in history.
yimyammer
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the real story here is not the fact Trump paid very little in tax, its that he's not the billionaire "genius" businessman he purports himself to be.
people dont have a clue how taxes work and forget that when law enforcement has had trouble convicting criminals like Al Capone of their obvious crimes, they were able to convict them on tax evasion
Cheating on your taxes is not an easy thing to do, couple that with the fact the tax return is prepared by a CPA who must risk incarceration for fraud or lose his license (which is VERY hard to get - I know because I am a CPA but I've let my license lapse--)
so the reality is Trump is a fucking loser as a business man and I believe thats why he doesnt want everyone to see his tax returns, he'd happily brag if he could show massive profits but IIRC, he lost close to a billion dollars in the early 2000's and the IRS lets you carry forward and backward losses (as they should) so I believe the reason he is not showing any paid taxes is because of the loss carry forwards that reduce his taxable income to next nothing.
Think about the statement in all these articles that say Trump got a refund. You can't get a refund unless you've paid the IRS in the first place so this is merely a return of his (or his companies) money.
but of course this is too complex for anyone to understand and isn't as fun of a story as implying Trump cheated on his taxes but if the press was honest, they'd be reporting the fact Trump is a failed businessman
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Not sure how you make this claim when he owns so many properties both domestic and internationally. Did the casino tank? Sure. So did most every other casino in NJ and they'll continue to tank as many states legalize gambling. Businessmen take risks. Sometimes they win, sometimes they lose. But if he's a bad businessman, I'd take his level of "failure" in a heartbeat.
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And I'll say this.....do I think folks should release their tax returns? Yes. But I also believe that Trump knows nothing good can come of it and folks will just find something to hammer him on. Not enough charitable contributions? Check. Carrying over his losses? Check.
I'm sure he has a top notch accounting firm do his taxes and I doubt anyone would cheat on those taxes for Trump and expose themselves to criminal liability, as well as intense scrutiny. For people to claim he doesn't pay taxes is just plain ignorance. And I'm certain if he fudged the books, the IRS would crucify him with civil penalties, at the very least.
I'm sure he has a top notch accounting firm do his taxes and I doubt anyone would cheat on those taxes for Trump and expose themselves to criminal liability, as well as intense scrutiny. For people to claim he doesn't pay taxes is just plain ignorance. And I'm certain if he fudged the books, the IRS would crucify him with civil penalties, at the very least.
yimyammer
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I'm making the claim "he's not the billionaire "genius" businessman he purports himself to be". With an emphasis on the words "genius" and "billionaire".
That doesnt mean he doesnt know business or has even made money, I just dont believe he's a billionaire as evidenced by his tax return and other stories I've read where he went bankrupt and lost all of his properties to the banks but his name was so tied to the properties, they didn't want to foreclose and potentially crater the real estates value so they paid him a percentage for the use of his name and that's primarily what Trump did going forward (licensing his name to projects) versus owning the properties that have his name. I think thats primarily how he makes his money and I think he made a lot of money from The Apprentice but it sounds like he loses constantly on his real estate deals.
His acumen is in PR, he's fooled you and many others into believing he is something he is not which again is not a "genius" or a "billionaire" when it comes to real estate especially considering real estate has done nothing but go up since I graduated from college in 1988. Assuming he purchased properties leveraged by loans and held them to this day, they should be paid off and making a ton of money, the fact he is still showing little to no tax paid means the loss carry forwards are wiping out the profits in the current year.
Here's an example, if I start a business and lose 1 billion dollars in the first year but then proceed to make 100 million per year for the next 9 years, I've run a net loss of 100 million dollars at the end of 10 years and would not have paid any income taxes because I could carry forward that first year loss until the loss was fully absorbed by profit or the time limit to apply these losses had expired (IIRC, its 15 years). That's what I think has happened with Trump. He could still be cash flowing while having no taxable income because you can take depreciation on the building which lowers your taxable income without being an actual out of pocket expense. But its really just a deferral of tax because once you sell the fully depreciated building, you pay tax on a fully depreciated asset.
Now I could could be wrong about the billionaire part if it can be shown he actually owns significant real estate with equity, then he could be. I think I heard him claim he is worth 10 billion, I dont believe him and it would be consistent for him to exaggerate the truth for personal benefit or ego. And I dont say this with any sense of Trump derangement, its more an observation that I think is accurate. I'm politically agnostic and ambivalent about whomever is president because I think the government has so fucked us with their out of control spending and printing of money that its simply a matter of time until the dollar crashes and we all pay for the lack of restraint shown by politicians and no President, current or in the future, has the political will, courage and/or ability to stop the coming crash.
In regard to the billion dollar loss, thats been reported for years. Here's one example: Report: Trump lost more than $1 billion from 1985 to 1994
I believe he also inherited like 400 million from his father. He could have put that in the stock market and played tidily winks for the last 30 years and it would probably be worth more than he is now.
To reiterate, I'm not saying he's broke, I just don't believe he is the multi-billionaire he claims to be, I bet he's not even a billionaire but who cares, he gets to live like one. If we had full access to all his finances, this would become clear but we'll never have full access to this data because I think it would prove what I'm saying.
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This has already been debunked. Number 1 or whatever his user name is made the same claim and we went back and forth for a while. I'll dig it up if I actually have time only because I provided link(s) to the reporting. I'm not going to lie. The fact that you and that dickhead think alike is a black mark and disturbing. Are you guys friends?
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With the exception of the previous post, everything you posted could absolutely have merit. I do think he had some leverage fucking the banks that loaned him his casino money but I doubt they're still involved in his other buildings. But I've been fucked by banks enough to not really give to shits if he raped them or not.
And I agree he's as much of a PR guy as he is a businessman, especially recently after his casino went belly up. He may not be worth billions, as he claims, but I'd bet his properties are valued in the billions. Big difference. But I'm not going to fault the guy for taking millions in inheritance and taking his business to Manhattan and expanding his father's empire. I think his father was a Brooklyn guy and warned against doing business in Manhattan. At least that's what I remember.
Much of what you posted is very plausible, although I don't think he'd be where he's at financially had he invested in the stock market. That's just political drivel to minimize what what he's accomplished. I've dabbled in real estate and won some and lost a lot when everyone said you can't lose if you invest in real estate. When the real estate market crashed, coupled with the crash of the banks, a lot of folks lost a lot of wealth. It was a vicious cycle; notes came due and banks were not giving out loans to other potential buyers/investors. I could go on and on but I'll leave it at that.
yimyammer
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I'll defer to you on the 400 million comment, it was not essential to my point thus why I said "I believe he inherited.."
so I'll retract that unless I can substantiate it with something reiable
I still believe in everything else I wrote and don't really understand why have an issue with it or me, all I care about is the unvarnished truth and will happily alter my course based on wherever the truth leads me
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So what? You know we tax INCOME, correct? Not wealth. And we tax income based on what it is AFTER deductions and expenses. Not the gross.
This is fodder for idiots and what the dems still don't realize is most people not voting their way are intelligent. And don't get all bent over shit like this. If anything it illustrates what is wrong with our tax system. Kudos to Trump or anyone else who uses this shit system to avoid paying into it. I know I do and always have.
Only the idiots who wouldn't vote for Trump anyway are gleeful. This doesn't move the needle at all for moderates or independents. This is all the same mistake Hillary made - appeal only to those who lean her way anyway and ignore everyone else. Preaching to the choir.
Scot
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Just ask Hillary
That’s what happens when you believe your own left leaning media when they say you are way ahead in the polls
No need to go after new voting blocks when you believe you already have the election won with the idiots that already support you
That’s what happens when you believe your own left leaning media when they say you are way ahead in the polls
No need to go after new voting blocks when you believe you already have the election won with the idiots that already support you
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They want "purity" and not get elected by pandering to the middle, the white working class, the mean ole white rich... Instead they want to win by pandering to the grievance industry. They want to win without any votes from "deplorables." So they can claim a false morality.
yimyammer
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what I said is not political drivel, I may have unknowingly relied on a source I thought was factual that turned out to be political drivel ( the 400 million inheritance comment I retracted for example)
I only say this because I want be clear these are MY opinions based on my financial acumen and what information I've gathered thus far. My sole intention is discovering the truth, not going down some political rathole with a stranger on the internet, I despise that shit. So perhaps some of my speculation is off but none of my comments are politically motivated nor are they illogical from a financial and/or investment standpoint.
As far as investing in real estate, that's what I've done for 30 years so I am intimately familiar with this business and I've never lost a dime. Even when the crash happened I was able to withstand the drop in values because I was not overly leveraged, that's what kills these guys. Sure, when they win, they win big but when they lose, they consistently lose big, if not everything.
Had Trump (or anyone) just invested an inheritance (whatever amount it was) in a fund mirroring the Dow jones starting in January 18th, 1985 ($1,227.36 at that time). A million dollar investment would now be worth $22,366,706. So if his inheritance was 100 million, it would now be worth 2,236,670,577 by merely leaving it alone. So depending upon how much he inherited, my logic is sound and in no way political. This is not an insane way to invest, in fact its very conservative and just requires one to play the long game by leaving the investment alone. Its also not meant as a knock on Trump, I'm trying to make the point that if you have money to invest, you damn well better beat the market or you're better off throwing it in a fund like the Dow Jones and forgetting about it while sipping Mai Tai's on the beach versus working your ass off to make less or lose money. So in Trumps case, if he wasn't able to take whatever he inherited and significantly increase its value over time, then it reflects on how successful he's been in business. Thats not political, its just the cold hearted truth that applies to any one of us.
If all his financial records came out tomorrow for public scrutiny and it contradicted everything I wrote above, I'd simply say, damn I missed the boat on that one, my bad, everyone who disagreed, kudos to you for getting it right.
Like I said, I'm merely trying to glean the truth from all the BS & misinformation that is floating around these days so please dont ever take my motivation as anyway political because I absolutely abhor that shit! So I welcome you and anyone else to provide sound reasoning and logic as to where I'm off base and if I agree, I'll alter my present course accordingly