Words of Advice:

"Never Feel Sorry For Anyone Who Owns an Airplane."-- Tina Marie

"
If Something Seems To Be Too Good To Be True, It's Best To Shoot It, Just In Case." -- Fiona Glenanne

"
Flying the Airplane is More Important than Radioing Your Plight to a Person on the Ground
Who is Incapable of Understanding or Doing Anything About It.
" -- Unknown

"There seems to be almost no problem that Congress cannot, by diligent efforts and careful legislative drafting, make ten times worse." -- Me

"What the hell is an `Aluminum Falcon'?" -- Emperor Palpatine

"Eck!" -- George the Cat

Wednesday, May 8, 2019

Shorter Trump: Only the Little People Pay Taxes

The data — printouts from Mr. Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view. ... The numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade.

In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 — more than $250 million each year — were more than double those of the nearest taxpayers in the I.R.S. information for those years.
Trump's Mouthpiece du Jour says that the report is "demonstrably false", but then does not point to any data that contradicts the report.

Which leads to the conclusion that Trump is a loser who has kept himself afloat by bullshit, bluster, and screwing over anyone who has been gulled enough to do business with him.

He is, in short, a grifter, a con artist. The sad thing for this nation is that tens of millions of Americans continue to buy into his con.

7 comments:

w3ski said...

Maybe I am not seeing this right, but wouldn't "the Cheetolini" want to file taxes on a loss like that?
Perhaps this is just one of his sets of books, so to speak?
I just keep thinking "Tax Evasion".
Now, how to see what he really made over those years?
w3ski

Nangleator said...

Maybe the tax-free situation was a happy side effect of money laundering. Russian "investor" invests in casino, then "gambles" and walks out the door with shiny new cash "won" at the "casino," and trump declares a loss, stiffing the real investors. Is that about right?

dinthebeast said...

Then there was the $53 million in interest income he claimed, with no visible source... If this clown wants to be president he needs to explain himself beyond "All smart people cheat" which is what he's saying as of this morning.

So add felony tax fraud to the list of things to prosecute him for the minute he leaves office. If he wanted to get away with this shit, he never should have run for president.

-Doug in Oakland

Joan said...

It appears to me that many think his cheating is "smart, shrewd, and intelligent" and they are lost in admiration of his ability to cheat, lie, con, and embezzle successfully. I may be wrong.

B said...

So where is the outrage that someone violated his privacy by releasing those tax forms? One would think that Law Enforcement would be looking into that, just as if someone had done so with Ms Misfit's financial data....
I realize y'all hate him, but does the end really justify the means? Or, again, are the rules different for Republicans?

I have used income losses in some years to offset incomes in other parts of my businesses. All legal, and done by most companies and most business owning individuals... we also use depreciation to offset incomes. Losses in one year can also be carried forward to another. I would wager than nearly every businessman has used these rules, in one form or another. The scale on Donnie's finances is a bit larger, but that is all.

I fail to see the outrage for this for any reason besides "Trump".

Now the un-explained interest income....that is interesting, and the only part about this that I think is worth investigating. I am sure that someone in the DNC is doing so...

Comrade Misfit said...

Joan, I think you may be correct.

Dark Avenger said...

B, again you’re not reading the material. It was the transcripts of his returns, which he’s prolly had to submit to various banks and other entities for loans. Quite a discovery he has feet of clay.

I don’t care, do you?