Trump's Taxes

#1,602
#1,602
RavinDave said:
Well, are they?
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The New York Times report basically concludes that with the lone exception of Trump Tower in Midtown Manhattan, Trump runs unprofitable businesses, but they do serve the purpose of reducing his tax bill.

From the article:

"Since 2000, he has reported losing more than $315 million at the golf courses that he often describes as being at the heart of his empire. Much of this has been at Trump National Doral, a resort near Miami that he bought in 2012. And his Washington hotel, opened in 2016, has lost more than $55 million."

"Failing" might be too strong, but Trump's golf resorts are not profitable. There is one great investment which Trump has clearly made: Trump Tower in Midtown Manhattan. Aside from that one property, his revenue comes from shrewd branding - but that branding is based on the premise that his resorts make money, which is a lie.
 
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#1,603
#1,603
BowlBrother85 said:
The New York Times report basically concludes that with the lone exception of Trump Tower in Midtown Manhattan, Trump runs unprofitable businesses, but they do serve the purpose of reducing his tax bill.

From the article:

"Since 2000, he has reported losing more than $315 million at the golf courses that he often describes as being at the heart of his empire. Much of this has been at Trump National Doral, a resort near Miami that he bought in 2012. And his Washington hotel, opened in 2016, has lost more than $55 million."

"Failing" might be too strong, but Trump's golf resorts are not profitable. There is one great investment which Trump has clearly made: Trump Tower in Midtown Manhattan. Aside from that one property, his revenue comes from shrewd branding - but that branding is based on the premise that his resorts make money, which is a lie.
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I would just wait and see how this plays out. We know the NYT has gotten so much wrong over the past 4 years and they have a vendetta against Trump so they have plenty of reason to paint a bad picture here.
 
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#1,605
Jw9.gif
 
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#1,607
#1,607
BigOrangeD said:
I would just wait and see how this plays out. We know the NYT has gotten so much wrong over the past 4 years and they have a vendetta against Trump so they have plenty of reason to paint a bad picture here.
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It's well documented that last October, Donald Trump pushed hard for the G 7 summit to be hosted in June at Doral. It seemed like a desperate move at the time to save a troubled resort. The New York Times article makes sense when you consider that.
 
#1,608
#1,608
BowlBrother85 said:
It's well documented that last October, Donald Trump pushed hard for the G 7 summit to be hosted in June at Doral. It seemed like a desperate move at the time to save a troubled resort. The New York Times article makes sense when you consider that.
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I remember but that is just pure speculation. NYT got everything wrong on the Russia HOAX so I would not put much stock in what they say about Trump's taxes either.
 
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#1,609
#1,609
BowlBrother85 said:
The New York Times report basically concludes that with the lone exception of Trump Tower in Midtown Manhattan, Trump runs unprofitable businesses, but they do serve the purpose of reducing his tax bill.

From the article:

"Since 2000, he has reported losing more than $315 million at the golf courses that he often describes as being at the heart of his empire. Much of this has been at Trump National Doral, a resort near Miami that he bought in 2012. And his Washington hotel, opened in 2016, has lost more than $55 million."

"Failing" might be too strong, but Trump's golf resorts are not profitable. There is one great investment which Trump has clearly made: Trump Tower in Midtown Manhattan. Aside from that one property, his revenue comes from shrewd branding - but that branding is based on the premise that his resorts make money, which is a lie.
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Nevertheless this latest “bombshell” doesn’t seem to be moving the needle.
 
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#1,611
#1,611
BowlBrother85 said:
The cake is baked. I don't really trust people who say they don't know who they are going to vote for. They either know, and will vote for that candidate... or they wont vote at all.
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On this we pretty much agree. That probably covers at least 90% of likely voters. Hard to see how anyone can still be undecided but there are some folks who just can’t make a decision.
 
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#1,612
#1,612
golfballs said:
Basically, the only thing illegal that went on is that someone leaked his taxes. Good one libs. This kind of **** is problematic. And people cry that quality candidates don’t run for office. Who would want to be subjected to this? In fact I’d wager that Trumps finances are more on the up and up than other politicians. The ones getting rich through public office...
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Never mind Joe using Hunter to earn millions from China and Russia. But $750 is much more serious.
 
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#1,614
#1,614
BigOrangeD said:
View attachment 310020
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Let me try again. If you read further down her tweet, Alex states that Trump's Line 56 is $750. Line 56 is the sum of income tax, alternative minimum tax (if applicable) less any credits (i.e. education credits, retirement credits, etc.). Line 56 is the amount of Tax for the year. All Donald Trump had to do was pay $750; however, he ended up paying $1MM in estimated payments (This $1MM of payments were likely on Lines 64 and 65). Since his estimated payments of $1,000,000 exceeded his tax of $750, he got to carryforward the remainder $999,250 to 2017.
 
#1,615
#1,615
BigOrangeD said:
I would just wait and see how this plays out. We know the NYT has gotten so much wrong over the past 4 years and they have a vendetta against Trump so they have plenty of reason to paint a bad picture here.
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I absolutely agree that they have a vendetta against Trump and the way a big chunk of this article was constructed showed a lack of journalistic integrity.
 
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#1,616
#1,616
BigOrangeMojo said:
Let me try again. If you read further down her tweet, Alex states that Trump's Line 56 is $750. Line 56 is the sum of income tax, alternative minimum tax (if applicable) less any credits (i.e. education credits, retirement credits, etc.). Line 56 is the amount of Tax for the year. All Donald Trump had to do was pay $750; however, he ended up paying $1MM in estimated payments. Since his estimated payments of $1,000,000 exceeded his tax of $750, he got to carryforward the remainder $999,250 to 2017.
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Well, assuming all of that is correct and the NYT is reporting truth, then what law did he break or how did he defraud the government or voter? I don't see a problem myself. But he did pay 5 million over those 2 years whether he had too or not and will either go forward on future years, get refunded back, or may cover penalties if his accountant messed up.
 
#1,617
#1,617
BigOrangeD said:
Well, assuming all of that is correct and the NYT is reporting truth, then what law did he break or how did he defraud the government or voter? I don't see a problem myself. But he did pay 5 million over those 2 years whether he had too or not and will either go forward on future years, get refunded back, or may cover penalties if his accountant messed up.
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I think the fact that most of the media is highlightling his line 56 (after credits) instead of line 44 or 46 (before historic credits) is a bit disingenous as well. He had a Tiny Line 56 tax liability; however, he did extensively generate historic credits. If I were a Trump supporter, I would hammer the point that DJT would have had a 7 figure bill if he did not participate in rehabing historic buildings, which is an activity that Congress encourages.

Honestly, I haven't seen a tax law that he broke with this first NYT report. Some aggressive tax positions but nothing that I see that's pure illegal. The biggest thing is he overly exaggerated his business acumen and success, which might hurt his brand some. There's some stuff that optically doesn't look good.
 
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#1,618
#1,618
BigOrangeMojo said:
I think the fact that most of the media is highlightling his line 56 (after credits) instead of line 44 or 46 (before historic credits) is a bit disingenous as well. He had tax liability but did have historic credits. If I were a Trump supporter, I would hammer the point that DJT would have had a 7 figure bill if he did not participate in rehabing historic buildings, which is an activity that Congress encourages.

Honestly, I haven't seen a tax law that he broke with this first NYT report. Some aggressive positions but nothing that I see that's pure illegal. The biggest thing is he overly exaggerated his business acumen and success, which might hurt his brand some.
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Agree. He has said that he was worth 10 Billion a few years ago. I'd be shocked if he was worth 2 but that's Trump. Always selling himself up and trying to be a playa.
 
#1,620
#1,620
BigOrangeMojo said:
I think the fact that most of the media is highlightling his line 56 (after credits) instead of line 44 or 46 (before historic credits) is a bit disingenous as well. He had a Tiny Line 56 tax liability; however, he did extensively generate historic credits. If I were a Trump supporter, I would hammer the point that DJT would have had a 7 figure bill if he did not participate in rehabing historic buildings, which is an activity that Congress encourages.

Honestly, I haven't seen a tax law that he broke with this first NYT report. Some aggressive tax positions but nothing that I see that's pure illegal. The biggest thing is he overly exaggerated his business acumen and success, which might hurt his brand some. There's some stuff that optically doesn't look good.
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If we are talking about optics, there is always a hypocritical angle with Donald Trump to point to:

"HALF of Americans don't pay taxes despite crippling govt debt..." - Donald J. Trump in a tweet on February 23, 2012 at 2:59 PM

In that tweet, Trump appears to be critical of the American people who might also be practicing legal tax avoidance? There is a cognitive dissonance to Donald Trump. He has zero sense of self-awareness.
 
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#1,622
#1,622
RavinDave said:
On this we pretty much agree. That probably covers at least 90% of likely voters. Hard to see how anyone can still be undecided but there are some folks who just can’t make a decision.
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I would say though, that the vast majority of voters who say they haven't made up their mind are Trump voters that don't want to put up with the grief. If true the polls are 5 to 8 % off on the vote count. Just a thought
 
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#1,623
#1,623
Redleg68 said:
I would say though, that the vast majority of voters who say they haven't made up their mind are Trump voters that don't want to put up with the grief. If true the polls are 5 to 8 % off on the vote count. Just a thought
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I think that’s right.
 
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