Has anyone asked, "Where did the $916 million in losses come from?"

[kentuck]

According to the NY Times article:

"Reports that year by New Jersey casino regulators gave glimpses of the balance sheet carnage. The Trump Taj Mahal casino reported a $25.5 million net loss during its first six months of 1990; the Trump’s Castle casino lost $43.5 million for the year. His airline, Trump Shuttle, lost $34.5 million during just the first six months of that year."

============

Those were his big losses. Those were his bankruptcies. Where did he get the other $800 million in losses? In my opinion, he created that number out of thin air, just so he could use this loophole in the tax code and not have to pay any taxes. He is a fraud from the get go.

The mistake in reporting this story is accepting the $916 million in losses as true. If there were bankruptcies, we could see those losses. However, all of his "businesses" did not go bankrupt or lose money.

It doesn't add up.

[meadowlark5]

1. I'm not watching any of the teevee today

Is any of the networks talking about this or are they focusing on #basementdwellers and whether Trump will bring up Bill's affairs at the debate? I'm sure not paying taxes is soooo boring for many American people. They want to hear the juicy, gossip stuff.

[Iliyah]

2. Plus for over 18 years t-rump has been mooching off the middle class

[kentuck]

3. IF we ever find out the truth about Mr Trump...

We will find that he has received hundreds of millions of dollars in refunds from the IRS and the American people. Not only did he not pay any taxes, the government paid him.

[duncang]

4. This is why he needs to release all tax records

And really should be releasing his businesses records. It not only would shed light on his actual worth, but show conflicts of interest. When I hear release the audit letter or first 2 pages it's just putting a piece of tape on the floor and calling it a bar.

[onehandle]

5. Over purchasing orange dye. nt

[muriel_volestrangler]

6. I don't think the IRS would accept a huge loss without proper documentation

You list losses in the early 90s for six months or a year; if this was all put as a personal loss in 1995, then that is a loss of capital, when he has sold assets at a huge loss, or the IRS has accepted them as worthless (I don't know the US code, so I don't know if they can even 'accept as worthless' a business, or if it would actually have to be sold for its value to be determined). If the businesses lost money over a few years, it would have become apparent they were shit, and the money he'd put into them would be lost.

[lastlib]

16. I'm hearing it's a "Net operating loss" in his businesses....

...not a capital loss, which gets a different tax treatment. Still, he has to be able to prove it, and the documentation to do that hasn't come out..... (I'm guessing he'll have a Cheneyesque office fire pretty soon......)

[kentuck]

17. The IRS has become a toothless tiger.

We recall the controversy over charitable organizations getting involved in politics when the conservatives were complaining that the IRS was auditing "conservative" charities but not the liberal charities, a couple of years ago.

[Generic Brad]

20. Perhaps that is why he is audited every year

He must play fast and loose with the tax code every single year.

[kentuck]

21. Not everyone is audited every year.

Donald is the exception. There's a reason.

[spanone]

7. i'm going with 'he's a criminal'

[kentuck]

8. Big time.

I am so sick of the stupidity of the American people.

[spanone]

9. i'm with you. hard to believe trump has any percentage of the vote.

white supremacists make sense, no one else does.

[kentuck]

22. It's truly depressing to see so many suckers in our great country.

Donald has never done anything for his country but take. Period. Yet, they act as if they are so angry with the "status quo" that they are looking for some type of "change". Who better to help you rob the bank than a very good, experienced bank robber??

[tammywammy]

10. I think we know why he gets audited

He's claiming to make millions and paying no taxes.

[kentuck]

23. If truth be known...

Trump is at war with the IRS. He has been using the 1995 tax form as proof to the IRS that he owes no taxes, even if he did make over $600,000,000 this year alone. Now, he is showing that proof to the public. Can't you see how the IRS is "persecuting" him? etc...etc.

[kentuck]

11. Trump is bigger than the IRS and the FBI...

He could shoot someone in the middle of Fifth Avenue and he would not lose a vote.

[Nye Bevan]

12. His business genius temporarily deserted him? (nt)

[panader0]

13. Yeah----

http://www.democraticunderground.com/?com=view_post&forum=1002&pid=8202155

[smirkymonkey]

14. If that's not a trigger for an audit, I don't what is.

You are going down, shitgibbon!

[C_U_L8R]

15. Seems like an extraordinary loss

to show up on a personal tax filing. No?
Wouldn't most losses be contained in the businesses themselves?

(as you can see, I'm no tax expert but curious to understand Trump's scheme)

[ryan_cats]

18. Obviously

Obviously, it is Hillary Clinton's fault.

He would have made money, huuuuuge money in those casinos if it was for those meddling Clintons.

That or he spent an inordinate amount of money on enzyte to increase the size of his hands.

[kentuck]

19. There's always an excuse.

He said it was his "mic" at the debate. I had no problem hearing his every snort, sitting in my living room...

[NightWatcher]

24. Beanie Babies? Maybe he put a billion into those or Garbage Pail Kids.

[Madam45for2923]

25. That's the question that everyone should be asking Trump, and all his spokespeople, surrogates from

now on! Also let's ask Pence at the VP debate on Tuesday! ALSO TRUMP NEEDS TO RELEASE TAXES!

[LastLiberal in PalmSprings]

26. This is all a diversion to keep us from pushing for him to reveal his taxes

which are allegedly under audit (he hasn't proved that yet, which he can by showing the IRS notice of audit letter, which he's free to do).

[kentuck]

28. Very true.

He's a demagogue.

[SummerSnow]

27. Mismanaging his money, buying dumb shit, bad investments, cheating people,

Getting sued, bad business, filing bankruptcy, not paying bills, defaulting on loans,

[kentuck]

29. ...and division.

He's very good at division.

[JoeOtterbein]

30. Cocaine is very expensive ! Especially huge amounts of the very best