BREAKING: Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses
Source: NY TIMES
Just breaking on the NYT site.
Newly obtained tax information reveals that from 1985 to 1994, Donald J. Trumps businesses were in far bleaker condition than was previously known.
Read more: https://www.nytimes.com/interactive/2019/05/07/us/politics/donald-trump-taxes.html?action=click&module=Top%20Stories&pgtype=Homepage
htuttle
(23,738 posts)Betcha they told a completely different story when he was asking for a loan, or proving financial soundness.
It all smells of massive fraud from the Con Man in Chief. He's been lying to financial institutions and the IRS for his entire life.
Marthe48
(16,975 posts)Actually make money, but cook the books to avoid taxes? And use other cooked books to get money from the banks, and just never give up a penny in taxes or interest if he could avoid it? What yours is mine and what's mine is mine.
Eliot Rosewater
(31,112 posts)groundloop
(11,519 posts)I can totally see him saying one thing on his tax returns to avoid paying taxes, and putting out something totally different with which to obtain loans and impress potential partners and clients.
Laura PourMeADrink
(42,770 posts)Pulling real estate valuations out of their asses.
dameatball
(7,399 posts)SayItLoud
(1,702 posts)SayItLoud
(1,702 posts)every angle if there is a penny in it for himself. I would NEVER believe his tax returns. It's only when they are compared to loan applications and payments that they would mean something. He would never file a return where he had to pay taxes unless it benefited him in some way.
That sudden $59 million "interest income" might be a loan from his father, family or very likely Russian Oligarch" but it sure isn't interest income.
Hekate
(90,715 posts)If I understand correctly, that is a feature, not a bug.
More_Cowbell
(2,191 posts)coeur_de_lion
(3,680 posts)I like this quote:
Clearly, Trump badly needs an additional source of coin on the realm.
Uncle Vladimir to the rescue!
Chin music
(23,002 posts)That gets us to 94'. Keep it up. Work backwards from 2018 maybe??
Laura PourMeADrink
(42,770 posts)DeminPennswoods
(15,286 posts)fingers in the entire Trump cult to plug all the holes in the dike.
applegrove
(118,696 posts)to american banks alive than forrclosing on his properties. It is a calculation the banks made to keep him in business so they could try to recoup their $$$.
applegrove
(118,696 posts)was his best year.
Duppers
(28,125 posts)We *knew* he was lying.
trueblue2007
(17,228 posts)John Fante
(3,479 posts)SergeStorms
(19,204 posts)And "the greatest businessman in the world" was flush with cash again*.
*After he and his siblings swindled the government out of any estate taxes owed, that is.
Laura PourMeADrink
(42,770 posts)SergeStorms
(19,204 posts)But his assets, which were more than considerable, were transferred before he died. It's said that Donnie himself inherited over $400 million. They transferred the properties in such a way that they were not taxed, or taxed very lightly, illegally - of course - between Donnie and his siblings. Donnie's sister was a federal judge and could have been disbarred for the shenanigans pulled when they divided the estate. She recently "retired" from her judgeship to avoid an investigation that was already underway into the Trump family finances. They're all crooks and swindlers.
BigmanPigman
(51,611 posts)CNN is about to announce this news!
Duppers
(28,125 posts)TY! 🙏
NightWatcher
(39,343 posts)tinrobot
(10,903 posts)What a moron.
brewens
(13,598 posts)Tech
(1,771 posts)Maybe 2.3 billion per google? Inflation from 1985 of 123.05%?
DeminPennswoods
(15,286 posts)as US inflation from then to today is 71.2%. If 1984 is the base year, then the loss is 2.45B with total inflation at 144.7%.
Link to calculator: https://www.usinflationcalculator.com/
mucifer
(23,554 posts)Harker
(14,026 posts)ProudProgressiveNow
(6,129 posts)kairos12
(12,862 posts)wolfie001
(2,252 posts)The Velveteen Ocelot
(115,746 posts)Fake news! No collusion! Fake collusion! No news!
ProudMNDemocrat
(16,786 posts)No wonder he does not want his more recent returns exposed. Trump is in debt to Russia a d Putin.
livetohike
(22,147 posts)Russian mob?
maddogesq
(1,245 posts)😎
mobeau69
(11,145 posts)He IS the biggest loser.
lagomorph777
(30,613 posts)woodsprite
(11,916 posts)So he could get every tax break possible?
spooky3
(34,460 posts)forgotmylogin
(7,530 posts)Laura PourMeADrink
(42,770 posts)Jarqui
(10,126 posts)Nearly $2 billion in losses in 11 years.
Is it any wonder that the Russians own him?
Pepsidog
(6,254 posts)DrToast
(6,414 posts)Someone could book loses in one year and still be successful. But 8 losing years out of 10? He sucks at business.
Pepsidog
(6,254 posts)3catwoman3
(24,007 posts)...ALL he is.
2naSalit
(86,650 posts)Now that this is out, as I said earlier today, put on your ponchos, the shit is now hitting the fan.
repeat: THE SHIT IS NOW HITTING FAN, TAKE COVER AND PUT ON YOUR PONCHOS!
sarcasmo
(23,968 posts)llmart
(15,540 posts)Did he really "lose" the money or did he report higher losses than he actually had so that he would have to pay zero dollars in taxes?
brush
(53,792 posts)example of his losses, and you know it takes millions to buy and maintain airplanes.
DeminPennswoods
(15,286 posts)the tax code correctly in his case, he was able to carry forward prior year losses to offset his income in subsequent years.
gristy
(10,667 posts)And is a very big deal. The description in the article of how they pieced together this info is really something.
Duppers
(28,125 posts)Thanks.
Marthe48
(16,975 posts)this year for a previous investigation on trump finances. April 2019.
https://www.nytimes.com/2019/04/15/business/media/nyt-pulitzer-prize-winners.html
Duppers
(28,125 posts)Thank you!
DrToast
(6,414 posts)DrToast
(6,414 posts)Spread the word. Every candidate should be talking about how Trump is a trust fund failure at business.
mucifer
(23,554 posts)DrToast
(6,414 posts)Duppers
(28,125 posts)fierywoman
(7,686 posts)mobeau69
(11,145 posts)fierywoman
(7,686 posts)mobeau69
(11,145 posts)Search help for history or google it.
Warning: If you clear all history you'll have to re-enter passwords for sites like DU and possible others.
littlemissmartypants
(22,695 posts)Click on it and then clear history and it should give you a clean start. It will however require that you log in again.
Marthe48
(16,975 posts)then do a search for the items I want to get rid of. then delete the items returned from the search.
fierywoman
(7,686 posts)earthside
(6,960 posts)Trump has lied over and over and over again to the Trumpicans and to all Americans.
He's a fraud; a con man.
Trump is a phony.
ffr
(22,671 posts)We were right.
The Fox watching drones are completely 100% dead wrong! The tRump regime is a fraud.
Laura PourMeADrink
(42,770 posts)Fox on and they were talking Obama spying on trump
ffr
(22,671 posts)Glimmer of Hope
(5,823 posts)"In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer..."
Vogon_Glory
(9,120 posts)Donald Trump, the great businessman? Im not surprised that his fortunes took a licking when his airline went bust, but how in Sheol and Gehenna can anyone think this guy is a competent businessman and administrator?
Trump the great businessman ought to be placed alongside other right-Wing BS memes like Trump the great negotiator and Trump the great Christian, and pulled out as triggers for mockery when some right-Wing doofus or other starts yakking about how great their boy is.
EDIT: Seriously, canyou imagine the howls of laughter and derision from corporate mainstream pundits as well as right-Wing propaganda organs if one of our guys made business decisions this reckless and disastrous?
Of course Donnie is a Republican so its IOKALAYAAR from the right-Wing propaganda organs and both sides from the arrogant, lazy-a$$ lame-stream pundits.
Jedi Guy
(3,194 posts)Trump had all the trappings of wealth and success with none of the substance. People who stopped and thought about it for more than a moment figured out that he was a phony. Those who didn't were taken in by his act.
The sad thing is that so many of those people know they were hoodwinked, but are so embarrassed that they won't admit it. Instead, they'll double down in their support and insist that it's fake news.
GetRidOfThem
(869 posts)to those that were willing to pay a fortune to Trump University! (some went bankrupt because of the fees, I am sure...)
klook
(12,157 posts)What a putz! So during a mostly good economic period, he managed epic losses... how did this schmuck maintain his lavish lifestyle??
Marthe48
(16,975 posts)dine and dash?
I forgot my wallet. Or credit cards. Put it on the tab (then say I wasn't there that night and you can't prove otherwise) and so on.
jmowreader
(50,560 posts)There's probably not a steakhouse in Manhattan, except maybe Tad's Steaks (which is not a well-respected institution), who will serve Donald Trump. And it's hard to blame them.
DeminPennswoods
(15,286 posts)and believes that surprise visits to fast food places don't give anyone enough time to mess with his food.
Evolve Dammit
(16,743 posts)The rest include...obstruction of justice, campaign fraud and abuse, attempted collusion with Russia, money laundering, misrepresentation on financial documents, conspiracy, adultery, emoluments violations, alleged underage sexual contact, and so on and so forth... Time for impeachment and sworn testimonies to start.....NOW! Also time for those who know the facts to come forward.
Marthe48
(16,975 posts)MSM loved him. The camera doesn't love roger stone, or others pulling the strings and fouling the water. After information arose last year, records about the way trumps did business, I will forever wonder why these slimy crooks weren't stopped in the 70s, 80s or 90s.
Evolve Dammit
(16,743 posts)slim. It seems regardless of the crime, there is not enough enforcement as a deterrent. Trump has milked it to an art form. Manafort is a rare example of someone who got caught. Stone will find out in November.
milestogo
(16,829 posts)Asshole.
IggleDuer
(964 posts)This report came from the Failing New York Times
Cheating Don sure knows failure.
WhiskeyGrinder
(22,359 posts)rurallib
(62,426 posts)$100,000,000 - Jesus Christ what a loser!
Gregory Peccary
(490 posts)Losing $274,000 per day, every day for 10 years. How do you do that?
rurallib
(62,426 posts)some bosses might have fired him for that.
rurallib
(62,426 posts)"Man of the Year" right now.
AJT
(5,240 posts)DrToast
(6,414 posts)He needed a job. 😂
TomSlick
(11,100 posts)Remember, sister dear had to retire from the federal bench to stop an ethics investigation into the Trump family tax fraud.
Duppers
(28,125 posts)David Cay Johnston agrees.
See: https://www.msnbc.com/hardball/watch/david-cay-johnston-trump-is-a-criminal-level-tax-cheat-59139141969
calimary
(81,323 posts)Last edited Tue May 7, 2019, 11:34 PM - Edit history (1)
There you have the donald trump story.
maddogesq
(1,245 posts)Hes all hat, no cattle.😎
calimary
(81,323 posts)It applied perfectly to dubya, who always swaggered around like he was bow-legged wearing big cowboy chaps. But he was afraid of horses!
still_one
(92,242 posts)Marthe48
(16,975 posts)in 2004
mcar
(42,334 posts)What a report!
Hotler
(11,428 posts)meow2u3
(24,764 posts)Where's a forensic accountant when we need one?
Hekate
(90,715 posts)...Red Don to fear them and try to destroy those agencies.
On Edit: Sure looks like major newspapers like the NYT have journalists with a similar skillset. Which is just another reason for Red Don to fear and try to destroy etc etc.
Thekaspervote
(32,778 posts)But it appears at that time he did not have enough investments to be earning that kind of money... is this when he began his Russian money laundering gig??
zentrum
(9,865 posts)...he's using the Presidency and the new tax code to recoup that.
Dawson Leery
(19,348 posts)A failure, a cheat, living off the taxpayer.
In Donnie Trump's 73 years, he has nothing to show for it. He destroys everything he touches.
Blue Owl
(50,432 posts)Stuart G
(38,436 posts)durablend
(7,462 posts)"TEHRAN LEFT IN RUBBLE"
The president was quoted as saying "It didn't have to be this way, DEMS"
at140
(6,110 posts)dalton99a
(81,526 posts)The numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade.
In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 more than $250 million each year were more than double those of the nearest taxpayers in the I.R.S. information for those years.
Over all, Mr. Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years. It is not known whether the I.R.S. later required changes after audits.
DeminPennswoods
(15,286 posts)great at - consistingly losing more money per year than any other individual taxpayer in America!
dixiegrrrrl
(60,010 posts)Totally bullshit empty suit, a hollow man, creating a fake world to live in, with perpetual lies and bluster.
The only thing about him that is real is his capacity for dishonesty.
JohnnyRingo
(18,636 posts)Thanx for posting.
Progressive2020
(713 posts)Trump will go down in history as the worst President ever, beating out Richard Nixon for the title. Trump is corrupt, a liar, a con man, and a cheat. He might be the first President to ever serve jail time.
I think when his taxes and finances are exposed, you will see that his "business" was always built on debt, credit, bankruptcy, and fraud. Trump likes to call media "Fake News", but he is a "Fake Businessman".
I look forward to the day when he and his lackeys are indicted and Trump's name is consigned to the ash heap of history. His name will rank up there with villains like Benedict Arnold, Boss Tweed, and Richard Nixon- all despicable figures from American History.
CountAllVotes
(20,876 posts)My arse!!
Dump da chump!
Beartracks
(12,816 posts)He was anything but a "successful businessman."
=========
sarabelle
(453 posts)These kind of criminals have it both ways. Cohen told us so. So what is so hard to understand about it?
He inflates to get loan, he deflates to scam taxes.
Cha
(297,323 posts)coming?
duforsure
(11,885 posts)President looks like getting exposed. That's why he's scared of his taxes getting fully exposed, people will realize he did nothing but lie,and promote propaganda.
Honeycombe8
(37,648 posts)That's remarkable. REMARKABLE.
Vinca
(50,279 posts)8 of 10 years most of us paid more taxes than the faux billionaire.
Blue_Tires
(55,445 posts)Nice to see that in an era when it was damn near impossible to LOSE money, ol' Donnie lost more than anyone in recorded history...
Oneironaut
(5,505 posts)The President is a con artist. He was from the beginning. How glaringly obvious does it need to be for even half the populace to understand that?
Blue_Tires
(55,445 posts)blue neen
(12,322 posts)That's Trump to a T.
Hekate
(90,715 posts)oldsoftie
(12,558 posts)not because of any Russians.
He isnt nearly as rich as he says, and he doesnt make nearly the money he says either. That becoming a known and undisputed fact to his followers would be a gut punch to him.