Trump tax return shows disparity in system

christiefan915 said:
It shows he's a terrible businessman. In today's dollars $915 million would equal $1,445,693,887. How many entities lose that much money in a year? He got almost 20 years of tax write-offs and all the people he employed got the shaft. His lifestyle didn't change because of this. People lost their jobs and their livelihoods but he still lived large in that garish faux-Versailles apartment.

Furthermore, I don't believe he's as successful as he'd have people believe. I bet his tax returns would prove me right.
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Off the top of my head Uber lost a billion dollars in the first half of this year.
 
Damocles said:
No, it really doesn't. It shows he can face a loss and overcome it. And we'll find out what his returns say after the audit. My guess is Obama's asking them to drag their feet to drag out the "talking point". You know that this IRS is willing to go after conservative groups, etc. and is used by this Administration as a political tool, there is no doubt in my mind that if his returns had something illegal about them we'd have known about it by now.

Anyway, it isn't "evil" or even a sign of "bad business"... Many people were in NJ casinos and all of them lost big. It was a risk, that's what people in real estate sometimes do, take risks.
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Res said the mistakes started in the 1980s, when Trump paid $365 million for the Eastern Air Lines Shuttle and $400 million for the Plaza Hotel.
"He overpaid for all that stuff," said Res. "Those were not wise decisions. Those were mistakes on his part."

Damo you defend the indefensible, casinos were making money when Trump went under.

http://abcnews.go.com/Politics/wireStory/ap-fact-check-trump-distorts-90s-economic-downturn-42545437

http://www.npr.org/2016/10/04/496596466/how-donald-trump-lost-916-million

You're voting for him, aren't you?


 
Apple has nearly $200 billion overseas which they would like to repatriate but are terrified that they will be stung with a 35% corporate tax bill.

Under current law, U.S. companies owe the full 35 percent corporate tax rate -- the highest of any industrialized nation - - on income they earn around the world. They receive tax credits for payments to foreign governments, and have to pay the U.S. the difference only when they bring the money home.
That system encourages companies to shift profits to low-tax foreign countries and leave the money there. As a result, more than $2 trillion is being stockpiled overseas by U.S. companies.
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https://www.bloomberg.com/news/arti...1-billion-headache-apple-s-cash-held-overseas
 
Damocles said:
No, it really doesn't. It shows he can face a loss and overcome it. And we'll find out what his returns say after the audit. My guess is Obama's asking them to drag their feet to drag out the "talking point". You know that this IRS is willing to go after conservative groups, etc. and is used by this Administration as a political tool, there is no doubt in my mind that if his returns had something illegal about them we'd have known about it by now.

Anyway, it isn't "evil" or even a sign of "bad business"... Many people were in NJ casinos and all of them lost big. It was a risk, that's what people in real estate sometimes do, take risks.
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"Media figures are inaccurately equating Democratic presidential nominee Hillary Clinton’s use of a common tax deduction on her 2015 tax return to Republican presidential nominee Donald Trump’s $916 million declared loss in 1995, which, The New York Times reported, he could have used to virtually wipe out his federal income tax obligations over the past two decades. Several media outlets have falsely claimed Clinton “did the same thing” as Trump when, in fact, Clinton’s 2015 tax return shows that she could take only a $3,000 deduction for her reported $700,000 loss, and her campaign reports that she has paid between a 25 and 38 percent income tax rate since 2001."


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Rana said:
Res said the mistakes started in the 1980s, when Trump paid $365 million for the Eastern Air Lines Shuttle and $400 million for the Plaza Hotel.
"He overpaid for all that stuff," said Res. "Those were not wise decisions. Those were mistakes on his part."

Damo you defend the indefensible, casinos were making money when Trump went under.

http://abcnews.go.com/Politics/wireStory/ap-fact-check-trump-distorts-90s-economic-downturn-42545437

http://www.npr.org/2016/10/04/496596466/how-donald-trump-lost-916-million

You're voting for him, aren't you?


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Trump casinos lost money every single year until he declared bankruptcy. It's beyond me how anyone could defend his blatant lack of business acumen.

https://www.washingtonpost.com/busi...458918-2766-11e6-b989-4e5479715b54_story.html
 
Milagro said:
I thought it was a basic maxim that you couldn't be a true entrepreneur unless you has at least one bankruptcy under your belt!

http://www.incomediary.com/went-bankrupt-now-worth-millions
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In the Silicon Valley some call it a badge of honor to have had a failed start up. Many long time real estate developers had either filed, or come close to filing, for bankruptcy during their careers. Real estate uses a lot of leverage and if you're highly leveraged and a bad market hits...

I'm not defending Trump here but the idea that a successful person can't have a failed venture in their past is not a prevelent one (although I will caveat not every situation is the same)
 
cawacko said:
In the Silicon Valley some call it a badge of honor to have had a failed start up. Many long time real estate developers had either filed, or come close to filing, for bankruptcy during their careers. Real estate uses a lot of leverage and if you're highly leveraged and a bad market hits...

I'm not defending Trump here but the idea that a successful person can't have a failed venture in their past is not a prevelent one (although I will caveat not every situation is the same)
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Yes, but his mistakes seem to be the same mistakes, acquiring too much debt. If Republicans perceive this to be a problem with our nation, why would you support someone who has this problem in business?
 
cawacko said:
In the Silicon Valley some call it a badge of honor to have had a failed start up. Many long time real estate developers had either filed, or come close to filing, for bankruptcy during their careers. Real estate uses a lot of leverage and if you're highly leveraged and a bad market hits...

I'm not defending Trump here but the idea that a successful person can't have a failed venture in their past is not a prevelent one (although I will caveat not every situation is the same)
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Also, it isn't just one failure but multiple failures.
 
cawacko said:
In the Silicon Valley some call it a badge of honor to have had a failed start up. Many long time real estate developers had either filed, or come close to filing, for bankruptcy during their careers. Real estate uses a lot of leverage and if you're highly leveraged and a bad market hits...

I'm not defending Trump here but the idea that a successful person can't have a failed venture in their past is not a prevelent one (although I will caveat not every situation is the same)
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we always have a coat waiting for you :)
 
Rana said:
Yes, but his mistakes seem to be the same mistakes, acquiring too much debt. If Republicans perceive this to be a problem with our nation, why would you support someone who has this problem in business?
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Clearly using debt is not a problem for our politicians (or voters) or we wouldn't have the debt the we currently do. Trump has made the argument he fully understands debt for his use of it in business. Now whether that translates into him spending less in office would remain to be seen if he wins
 
cawacko said:
Clearly using debt is not a problem for our politicians (or voters) or we wouldn't have the debt the we currently do. Trump has made the argument he fully understands debt for his use of it in business. Now whether that translates into him spending less in office would remain to be seen if he wins
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one thing it does show is that he understands the leverage that having the debt gives you. I.E. it is not only a burden but can be a weapon.
 
cawacko said:
Clearly using debt is not a problem for our politicians (or voters) or we wouldn't have the debt the we currently do. Trump has made the argument he fully understands debt for his use of it in business. Now whether that translates into him spending less in office would remain to be seen if he wins
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Trump clearly doesn't understand it, it is why USA banks won't lend to him and he is indebted to foreign sources.
 
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