Trump obviously doesn't feel there is nothing wrong there, since he's hiding his tax returns. I suspect he knows more about his taxes than you.He didn't do anything more, or less, than any other person has done in a government that allows NOLs. He has no responsibility to pay more taxes. No liberal superhero does. Uncle Warren, Bill Gates, among others, are running around lecturing everybody while deferring and avoiding as much taxes as possible.
Now if you want to argue that any NOLs should be removed above a certain tax threshold, that's fine by me, we should bring it up. However, to blame him, or put the spotlight on him, is wrong.
The $916 million loss certainly could have eliminated any federal income taxes Mr. Trump otherwise would have owed on the $50,000 to $100,000 he was paid for each episode of “The Apprentice,” or the roughly $45 million he was paid between 1995 and 2009 when he was chairman or chief executive of the publicly traded company he created to assume ownership of his troubled Atlantic City casinos. Ordinary investors in the new company, meanwhile, saw the value of their shares plunge to 17 cents from $35.50, while scores of contractors went unpaid for work on Mr. Trump’s casinos and casino bondholders received pennies on the dollar.
I noticed this bit in the article:
This seems to be a running theme with Trump; they invest in him or work for him, he reaps the bucks, they get stuck with the tab and he walks away scot-free. Donnie has never really had to account for his failures, he always seems to be able to 'rich guy' his way out of it and walk away richer for it. For some reason his supporters think this is an admirable quality to have in a President.
They think he's worth a lot and ignore the fact that his word is worthless. Actually, it's worth less than that.
I think the vast majority of Americans believe that he pays no taxes and that he's hiding his returns because of that. This is really no surprise. He probably owes debt to foreign investors (possibly Chinese, Russian and middle eastern). He probably isn't nearly as rich as he claims. True billionaires do not peddle steaks and board games. I'm sure the loss was smart, very very Huuugely smart — Donald Trump hates losers but, AFAICT, any self-loathing must be subconscious.. A $900 million realized loss? Bill Gates, J.D. Rockefeller, Baron Rothschild — none of them ever achieved that.
Pyramid scheme comes to mind, except all those who got fvcked didn't loose their money because they invested in a stupid scheme, but because they turned up to do their jobs.
Trump endorsed heavy on acn, so called multi level network marketing firm. You should look up what he said during those conventions. LolPyramid scheme comes to mind, except all those who got fvcked didn't loose their money because they invested in a stupid scheme, but because they turned up to do their jobs.
I am curious where they got this information. If somebody in the government released this, it is naked aggression of the establishment towards private citizens and cannot stand.
He's on twitter again saying that only he knows the tax code so well and can fix it. Hashtag indicates he's peeved at the NYT...again.
Also retweeting sentiment that polls don't matter.
He didn't do anything more, or less, than any other person has done in a government that allows NOLs. He has no responsibility to pay more taxes. No liberal superhero does. Uncle Warren, Bill Gates, among others, are running around lecturing everybody while deferring and avoiding as much taxes as possible.
Now if you want to argue that any NOLs should be removed above a certain tax threshold, that's fine by me, we should bring it up. However, to blame him, or put the spotlight on him, is wrong.
I didn't see it. I saw the headline pop up and thought that it might be the gov't. Interesting. Likely a leak from them to head off some leak they hear? Traitor?
Agree. What Trump did was not illegal. It should be blamed on the tax code that allows him and many others; conservative & liberal alike to do likewise.
When it comes time for everybody here to do their taxes next year, each and everyone here is going to take every deduction, tax credit etc... available to them. Those that know how to are going to structure their income properly to avoid as much taxation as legally possible and if you can get away with paying zero taxes legally, so be it.
Nobody here is such a good samaritan that they are going to pay as much tax as possible.
I didn't see it. I saw the headline pop up and thought that it might be the gov't. Interesting. Likely a leak from them to head off some leak they hear? Traitor?
Or, it could be that someone with access to Trump's finances has a conscience. This person couldn't abide by a presidential candidate who both refuses to publish his tax returns (bucking decades of disclosures by major candidates) and regularly exaggerates his business success. You're probably getting more truth out of this leak than Trump has delivered in over a year's worth of campaigning.