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(15,247 posts)Why would you allow such to seek the highest office in the first place?
Rincewind
(1,206 posts)they will throw your ass in prison.
Rollo
(2,559 posts)MosheFeingold
(3,051 posts)Because you don't have a giant loss carry forward from an unsuccessful business and desire to avoid prison.
Rollo
(2,559 posts)The loss was on the part of the bankers and investors... somehow Trump managed to pass it off as his own... I think the IRS slammed shut that loophole shortly thereafter...
Of course all this could be answered if he would just release his tax returns...
I'm not privy to his tax filings.
I am curious to find out.
If I was just guessing, I suspect it was a legit loss. He is concealing it because he is not nearly as rich as he portrays himself.
Rollo
(2,559 posts)http://www.slate.com/articles/business/the_bills/2016/10/the_real_scandal_of_donald_trump_s_massive_potential_tax_deductions.html
https://www.nytimes.com/interactive/2016/10/07/us/elections/donald-trump-tax-advantages-deductions-losses.html
https://www.washingtonpost.com/news/wonk/wp/2016/10/02/the-most-shocking-part-of-donald-trumps-tax-records-isnt-the-916-million-loss-everyones-talking-about/
MosheFeingold
(3,051 posts)People who have businesses have "lumpy" income. Losses for four years and then money one. Basically a loss carryforward averages the income out.
If. Outer, whether trump used it correctly is the billion dollar question.
Rollo
(2,559 posts)MosheFeingold
(3,051 posts)Jamaal510
(10,893 posts)not a rich Republican.
logosoco
(3,208 posts)and you want to contribute to this (partly) fine country!
You care about your fellow citizens.
And if YOU don't, you would get in trouble.
Tikki
(14,560 posts)I still think there is something there that will piss his adult children off....
Tikki