Trump Holds $421 Million In Debt, Could Owe IRS $100 Million In Penalties, Times Says

[634-5789]

A lawyer for the Trump Organization told the publication that “most, if not all, of the facts appear to be inaccurate,” and the president himself said the report was “totally fake news” and “made up” in a Sunday news conference.

But the documents, obtained from unnamed sources that had legal access to them, painted by far the most detailed picture of the president’s finances.


https://www.huffpost.com/entry/trump-debt-irs-421-million_n_5f7117c8c5b61af20e776eb5

[Jarqui]

1. How much does Trump owe Putin?

I'd like to hear that question answered in the debate.
Trump won't answer it or answer it honestly but asking it would plant seeds in the minds of some voters.

[Rorey]

2. I think Putin is going to have to mark that debt down as a loss

Last edited Mon Sep 28, 2020, 08:57 AM - Edit history (1)

OrangeLoser was worried about his food being tampered with before. He's REALLY going to be worried now.

Edit: OrangeLoser's value as a useful idiot for Putin are over.

[Jarqui]

5. I think Putin will mark that down as one of the best investments

he ever made - even if he doesn't see a dime repaid.

Putin has done trillions of dollars damage to the US with that 'little' loan.
If we don't get Trump out of the Oval office, it will continue to pay off for another 4 years - and there might be little left at that point.

[Rorey]

7. Good points NT

[Rorey]

3. And it's sounding like that may be the tip of the iceberg

From the article:
"At the same time, auditors at the IRS are probing whether the president misused a provision in the tax code that allowed him a full refund — with interest — of the taxes he paid between 2005 and 2008, a total of $72.9 million. If the refund is disallowed, Trump could owe more than $100 million in restitution, interest and penalties.

I'm sure that's not the only "misused provision in the tax code".

[triron]

10. Most people would already be in prison.

[Rorey]

12. True

Years ago, when we had a different accountant, she didn't file one of my forms. I should have gone through the return more thoroughly, but I trusted her to do her job. That first letter from the IRS terrified me.

Last year I got a divorce, and I'm pretty sure my ex husband hasn't filed taxes this year because I told him I had some receipts of his, and he hasn't asked for them. He's going to be pretty sad when they put liens on his properties. Karma.

[Roland99]

4. Appears to be $1.1 Billion

Link to tweet

13/ Trump has other small loans against a golf club in DC, one in New Jersey and a couple of mansions. Those add up to about another $35M or so in additional debt. The total accounted for still rounds to $1.1 billion. A lot of that, as the NYT story says, is coming due soon.

[dalton99a]

9. +1

[Lars39]

6. Unnamed source with legal access to them...

Who is Trump’s accountant for $200, Alex!

[Blue_Tires]

8. Greenwald, Scahill, Taibbi, etc. were unavailable for comment

[BootinUp]

13. The story is too big for them anyway. Nt

[crickets]

11. I don't think 'hoax' and 'fake news' are going to make this go away.

If trump doesn't resign, impeach him again as a national security risk. There is plenty of blatant evidence to nail him this time, the kind of evidence even the Senate can't ignore. Kick him out and lock him up.

[ProfessorGAC]

14. That Has To Be Personal Debt

The organization has billions in debt.

[leftyladyfrommo]

15. Michael Cohen said Trump owed 421 million.

The problem is that he has no cash on hand to pay the 100 million in taxes. He would have to liquidate assets. But if he does that he will owe 50% in taxes from the sale plus the 100 million. And he still doesn't have enough to pay off the debt.

He can't ever get caught up.