Trump's tax returns to be released to the Dems...

#451
#451
BigOrangeMojo said:
Other than an easement deduction in 2015, which is likely BS, there's nothing from the summaries. Even then, he hasn't been able to monetize the easement deduction yet either....
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Dang it .. the liberals got my hopes up again , I was sure he was going to prison ..this time like the other presidents have .
 
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#454
#454
0nelilreb said:
Dang it .. the liberals got my hopes up again , I was sure he was going to prison ..this time like the other presidents have .
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The summaries just prove that Trump just isn't that good at real estate. He missed huge trends in gaming and golf. He's far better at branding than real estate. Just proves its nice to have a $400 million head start....
 
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#455
#455
hog88 said:
The law states they shall conduct a review, not an audit and there is a difference. But I'm sure you knew that.
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The reports stated they scoped his returns before starting normal audit procedures. Typical for LB&I taxpayer...
 
#458
#458
lawgator1 said:
That's my point. Now we can all learn the loopholes and live like billionaires at other taxpayers' expense, just like Trump.
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You could just hire a good accountant firm . Call your Congressmen and ask which ones they use . Hell call Pelosi , use hers and follow her trading patterns . You’ll be living like a king in no time . Lol
 
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#459
#459
hog88 said:
So the IRS followed the law and the the reporting is sensationalized?
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Most investigated man on the planet by multiple countries isn’t going to get hung up on his taxes , after it’s all over .
 
#460
#460
0nelilreb said:
You could just hire a good accountant firm . Call your Congressmen and ask which ones they use . Hell call Pelosi , use hers and follow her trading patterns . You’ll be living like a king in no time . Lol
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Trump's taxes aren't as much from having good accountants as it is from him being not very good at real estate...
 
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#461
#461
hog88 said:
So the IRS followed the law and the the reporting is sensationalized?
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If they didn't follow law to the T, they at least followed standard practice (2 year audit cycles, lengthy LB&I times, getting statute of limitations waived, concluding prior exam before starting others, getting expert referrals)...
 
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#462
#462
BigOrangeMojo said:
Trump's taxes aren't as much from having good accountants as it is from him being not very good at real estate...
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Im glad you understand taxes . Is there a section in there that tells how he could be besties with Putin ( one of the richest men on the planet ) but still suck at real estate?
 
#463
#463
hog88 said:
So the IRS followed the law and the the reporting is sensationalized?
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Oh I don't know. Paying zero in federal income tax when you claim to be a highly successful businessman making billions might rankle people a wee bit.
 
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#464
#464
lawgator1 said:
Oh I don't know. Paying zero in federal income tax when you claim to be a highly successful businessman making billions might rankle people a wee bit.
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What does that have to do with the sensational and false headlines about the audits?
 
#465
#465
lawgator1 said:
That's my point. Now we can all learn the loopholes and live like billionaires at other taxpayers' expense, just like Trump.
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1. you don't need these private returns to learn the loopholes - there's plenty of documentation and knowledgeable accountants that can help there
2. billionaires aren't living at other taxpayers' expense
 
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#468
#468
lawgator1 said:
Oh I don't know. Paying zero in federal income tax when you claim to be a highly successful businessman making billions might rankle people a wee bit.
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He's not "making billions". He inherited/was gifted over $400MM and over the past 50 years, he has grown that into a net worth that significantly underperformed the stock market and Manhattan real estate market....

The point of his returns isn't how little he paid, how he might have cheated but just how much of a farce the "real estate tycoon" persona is
 
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#469
#469
BigOrangeMojo said:
He's not "making billions". He inherited/was gifted over $400MM and over the past 50 years, he has grown that into a net worth that significantly underperformed the stock market and Manhattan real estate market....

The point of his returns isn't how little he paid, how he might have cheated but just how much of a farce the "real estate tycoon" persona is
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What is his net worth now?
 
#470
#470
Caculator said:
What is his net worth now?
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Estimated to be in 3 billion range.

(He's worked with Forbes a lot in the past to provide values so I would suspect it's in the ballpark.) Only notable differences would be if he didn't disclose all debt to them. Forbes doesn't put a value on the "Trump" brand/intangibles....
 
#471
#471
The whole thing is taxing isn't it? :D

weary-face-google.png
 
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#472
#472
"But news reports show that it’s a bit of a mystery how much Trump inherited from his father, Fred Sr. When he died in 1999, the New York Times reported that "his estate has been estimated by the family at $250 million to $300 million." The New York Daily News reported at the time that the estate was worth $100 million to $300 million based on family estimates.

But how was it divvied up? That’s something that reporters have tried to sort out during the 2016 race.

The New York Times reported Jan. 2 that Fred Sr.’s will "divided the bulk of the inheritance, at least $20 million, among his children and their descendants, ‘other than my son Fred C. Trump Jr.’ "

Some of the grandchildren sued, and an "amicable" settlement was worked out.

But Donald Trump received money from his father long before his death.

A National Journal writer, S.V. Dáte, estimated Trump started with $40 million in 1974 when he became president of his father’s real estate company. By one estimate, the firm was worth about $200 million. Divided among Donald Trump and his four siblings, each would have received $40 million.

But the company wasn’t liquidated that year, so Trump didn’t receive that as cash.

In 1982, after running his father’s firm for eight years, Forbes magazine estimated Trump’s worth at $200 million."
PolitiFact - Did Donald Trump inherit $100 million?
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It appears an impossibility that Trump inherited either $400M, or $200M.
 
#473
#473
lawgator1 said:
Which claim?

Trump's false claim that he wanted to release the returns but could not due to being under audit?
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That the IRS "really didn't do an audit". They are not required to do an audit on the President and VPs returns, only a review which they did.
 
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#474
#474
hog88 said:
That the IRS "really didn't do an audit". They are not required to do an audit on the President and VPs returns, only a review which they did.
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Well, what do you have to say about Trump REPEATEDLY saying that THE reason he did not follow the custom of releasing his returns, even when just a candidate, was because he was under audit, when he WAS NOT?

It was just a bold faced lie by Trump, wasn't it?

At least we have a sense now of why he lied. He did not want the resentful middle class he was relying on as his base to know he was living high of the hog and THEIR taxpayer dollars funneled to him through gimmicks and loopholes, while they struggled to make ends meet.

The lesson here is that the Trump based got conned by him. Again. What was it Gomer Pyle said? Fool me once, shame on you. Fool me twice, shame on me. The Trump base got fooled dozens of times by the Trump conman. Hope they have had enough of being the gullible fools they are.
 
#475
#475
lawgator1 said:
Well, what do you have to say about Trump REPEATEDLY saying that THE reason he did not follow the custom of releasing his returns, even when just a candidate, was because he was under audit, when he WAS NOT?

It was just a bold faced lie by Trump, wasn't it?

At least we have a sense now of why he lied. He did not want the resentful middle class he was relying on as his base to know he was living high of the hog and THEIR taxpayer dollars funneled to him through gimmicks and loopholes, while they struggled to make ends meet.

The lesson here is that the Trump based got conned by him. Again. What was it Gomer Pyle said? Fool me once, shame on you. Fool me twice, shame on me. The Trump base got fooled dozens of tiems by the Trump conman. Hope they have had enough of being the gullible fools they are.
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Yes it was a bald faced lie just like the Dems and MSM are telling about him not being audited as required.
 
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