2020 US Presidential Election (aka: The Trump Coronation)

kilns

Kidchameleon wrote: »

Your proving my point here ie. He is a successful businessman.



Eh not if they are all bought on debt, its like you driving around in a Porsche giving the perception you have made it, when the reality is you maxxed out credit cards and a loan to pay for it


He has been in business decades. There will always be some bumps on the road. All entrepreneurs have hard times. It is a sign of great business acumen that he could pick himself up, dust off and go again. He is worth several billion, he is NOT bankrup

How do you estimate that he is worth several billion and please prove it, the only thing that can prove that are his tax returns which he doesnt want anyone to see.

Quin_Dub

Kidchameleon wrote: »

AFAIK, he inherited 1 million dollars. Most people who inherit a sum like that end up p1ssing it up against the wall. Trump turned it into several billion dollars. That was no accident. I would imagine inheriting his fathers genes and business acumen was more important than any amount of cash he might have received.

His father gave him three times that in a single transaction as a dig out for his casinos.

ATLANTIC CITY, N.J. (AP) _ The father of developer Donald Trump bought more than $3 million in chips from one of his son’s casinos to help him make a bond payment, officials said Monday.

The story, first reported in Monday’s editions of The Wall Street Journal, details how Fred Trump gave more than $3 million to an attorney to buy the casino chips on Dec. 17 at Trump Castle Casino Resort By The Bay.

The payment gave the younger Trump enough cash to make an $18.4 million payment due bondholders in the casino and surprised analysts who said it appeared Trump lacked enough money to make the payment, officials said.

Dropped 3 Million in cash on chips in his sons failing casino and just walked out with them and never spent them.

Basically an illegal loan.

And as others have already provided links for , he received the guts of a half a billion dollars from his father.

Kidchameleon

kilns wrote: »

How do you estimate that he is worth several billion and please prove it, the only thing that can prove that are his tax returns which he doesnt want anyone to see.

https://www.forbes.com/profile/donald-trump/

Overheal

Kidchameleon wrote: »

https://www.forbes.com/profile/donald-trump/

Forbes estimates are just that: estimates. Guesstimates, really, they aren’t more privy to his financials than anyone else. They read tea leaves to guess at people’s fortunes.

https://www.forbes.com/sites/danalexander/2020/04/02/trumps-net-worth-drops-1-billion-as-coronavirus-infects-the-presidents-business/

Timberrrrrrrr

Kidchameleon wrote: »

Your proving my point here ie. He is a successful businessman.






He has been in business decades. There will always be some bumps on the road. All entrepreneurs have hard times. It is a sign of great business acumen that he could pick himself up, dust off and go again. He is worth several billion, he is NOT bankrupt

You keep making this claim

Seeing as you are so hot on others providing links/evidence maybe you could furnish the same and show proof that Trump is worth "several billion".

Igotadose

Rick Wilson provides some good anecdotal evidence that Trump's not worth nearly as much as he claims. Rick Wilson is NOT unbiased. But he's familiar with Trump and Trump's cronies:

https://www.thedailybeast.com/trumps-no-billionaire-hes-a-bull****-artist-and-soon-well-have-the-taxes-to-prove-it?ref=author

Quin_Dub

Kidchameleon wrote: »

https://www.forbes.com/profile/donald-trump/

He makes it up as he goes along..

Estimates of Trump’s net worth range from a low of $150 million to $250 million asserted by journalist Timothy O’Brien in a 2005 book that earned him a libel lawsuit from Trump that was eventually dismissed. O’Brien saw Trump’s tax returns as part of the discovery in that suit but the records were sealed by the court and O’Brien is not allowed to discuss them in any detail.

One revelation made public as part of the suit was that Trump’s valuation of himself and his empire fluctuates based on his own “feelings.” Fortune magazine earlier this month estimated Trump’s net worth at $3.92 billion based on the latest financial disclosure.

A big chunk of Trump’s net worth figure comes from high valuations he bestows on his golf course properties. Trump values nine of his golf properties at “over $50 million” for a total of at least $450 million. He values at least four more at up to $25 million and a fifth at up to $50 million. But golf course valuation experts say there is nothing in the report to support these lofty figures.

“Unless we really know what the income and expenses for the clubs are, it’s impossible to even guess at what the value would be,” said Larry Hirsh, a founder of the Society of Golf Appraisers and the president of Golf Property Analysts. “He’s a classic example of a guy that, when he wants to get a loan or tell you how wealthy he is, he’ll tell you something is worth a bazillion dollars. But when he wants to get taxes reduced, he’ll tell you it’s worth $2.95.”

Educate yourself on his "net worth" and the dodgy accounting he uses

In particular his frequent use of what's called an "Accountants Compilation report"

Which basically amounts to an accountant signing an affidavit that says "I hereby confirm that my Client told me he had a Bazillion dollars" - No audit , no independent verification , just the accountant confirming what he was told by the client.

Trump sued O’Brien for defamation, and in the litigation, too, the accountants and their work played a supporting role. A 25-page document, on Weiser letterhead, titled “Accountants Compilation Report” was produced during discovery. (“I do keep one actually on my desk, hidden,” Trump testified during the case.) A two-page disclaimer explained that the report (which claimed a net worth of $3.5 billion) was based entirely on “the representation of the individual whose financial statements are presented.” In other words, all the numbers came from Trump.

Trump made clear just how unreliable that was, at one point testifying during his deposition: “My net worth fluctuates, and it goes up and down with markets and with attitudes and with feelings, even my own feelings.” Asked if he’d ever exaggerated in statements about his properties, Trump replied: “I think everyone does.”

The disclaimer on the “compilation” noted that Weiser had done nothing to confirm the unaudited numbers, which included wholesale departures from generally accepted accounting principles (GAAP). In particular, the statement acknowledged counting future income streams that were in doubt; excluding much of Trump’s debt; failing to reflect whether Trump actually owned only a portion of the assets he listed; and ignoring both repayment obligations and whatever taxes he owed.

Weiser did sometimes prepare GAAP-compliant audited financial statements for Trump, when required by some lenders and regulators. These statements revealed a lower net worth. So Trump shared the “compilation” documents with reporters instead.

O’Brien’s lawyers deposed the two Weiser partners who worked on the Trump document. Asked to explain a memo he’d written calling Trump’s valuations on properties “subjective,” Bender demurred: “I don’t have the professional expertise to discuss valuations.” Rosenblum, who said he had been preparing such statements for Trump since the early 1980s, was more direct. “In the compilation process, it is not the role of the accountant to assess the values,” he testified. “The role is to accept those values and move them forward.” He acknowledged he made no attempt to corroborate any of the figures. (A judge granted O’Brien a summary judgment, later upheld by an appeals court, in Trump’s libel suit.)

So he sued when O'Brien said he was only worth 150-250 million and the judge summarily tossed the case as did the appeals court.

That's as good as absolute confirmation that O'Briens figures were if not 100% accurate , they were at least in the ball-park.

Trump is NOT a Billionaire and never has been - That's why he fights so hard to hide his tax returns.

ELM327

Timberrrrrrrr wrote: »

You keep making this claim

Seeing as you are so hot on others providing links/evidence maybe you could furnish the same and show proof that Trump is worth "several billion".

Forbes is a pretty good source.
$3.1bn.



https://www.forbes.com/profile/donald-trump/#40d0f3ab47bd

Overheal

Igotadose wrote: »

Rick Wilson provides some good anecdotal evidence that Trump's not worth nearly as much as he claims. Rick Wilson is NOT unbiased. But he's familiar with Trump and Trump's cronies:

https://www.thedailybeast.com/trumps-no-billionaire-hes-a-bull****-artist-and-soon-well-have-the-taxes-to-prove-it?ref=author

Fixed your link, profanity filter broke it:

https://tinyurl.com/TrumpyPoopyPants

Overheal

ELM327 wrote: »

Forbes is a pretty good source.
$3.1bn.



https://www.forbes.com/profile/donald-trump/#40d0f3ab47bd

Reading comprehension error? Clearly shows $2.1Bn at the link and still as mentioned above just guesstimating. They explained in an article above how they approximated a drop in $1Bn pf his estimated bet worth this year alone.

Overheal

Kidchameleon wrote: »

That's one way to put it :pac:






That article is behind a paywall.

NYT doesn’t paywall archived news, afaik, only the “news.” I’ve run out of free views on their site but can still read the link.

threeball

Quin_Dub wrote: »

He makes it up as he goes along..




Educate yourself on his "net worth" and the dodgy accounting he uses

In particular his frequent use of what's called an "Accountants Compilation report"

Which basically amounts to an accountant signing an affidavit that says "I hereby confirm that my Client told me he had a Bazillion dollars" - No audit , no independent verification , just the accountant confirming what he was told by the client.



So he sued when O'Brien said he was only worth 150-250 million and the judge summarily tossed the case as did the appeals court.

That's as good as absolute confirmation that O'Briens figures were if not 100% accurate , they were at least in the ball-park.

Trump is NOT a Billionaire and never has been - That's why he fights so hard to hide his tax returns.

Trumps last New York apartment development wasn't even his, he was broke. It was funded by the Russian mafia with some funds given to Trump for the use of his name. His Chicago development he reneged on repaying the loan to Deutsche Bank, using the economic crash as an excuse and calling it an act of God, which he got away with.

He uses his name to generate revenue but has basically squandered it all and then some. In fairness to him he is the greatest snakeoil salesman of the last century.

Overheal

https://www.usatoday.com/story/news/politics/2020/07/12/george-floyd-feds-deny-minnesota-request-aid-rebuild/5423569002/

By refusing to declare it a disaster area, Trump has blocked relief money from going to Minnesota to repair damage from the protests. Seems like a bad move, this is a state he barely lost by less than a 2% margin in 2016. Though, perhaps he's factored in he is behind Biden by as much as 5-16 points of spread, which puts the state squarely blue. So, again, we see POTUS picking and choosing constituencies; we'd all be appalled if a Dem President denied disaster relief to an area that simply didn't vote their way. Everything Trump has done in office has either factored in to his narcissism, his re-election, or keeping himself out of jail.

Kidchameleon

Correct decision. To pay for the damage would be to encourage such behaviour

Overheal

Kidchameleon wrote: »

Correct decision. To pay for the damage would be to encourage such behaviour

Who encouraged it? Certainly not the voting, working taxpayers of MN who will now shoulder the burden alone.

Kidchameleon

Overheal wrote: »

Who encouraged it? Certainly not the voting, working taxpayers of MN who will now shoulder the burden alone.

The left

one world order

Overheal wrote: »

Who encouraged it? Certainly not the voting, working taxpayers of MN who will now shoulder the burden alone.

The devil is using the mainstream media to cause division and rioting. Let their destruction sit with them for all to see.

Overheal

Kidchameleon wrote: »

The left

So nobody in particular, any elected official, or authority figure

one world order

one world order wrote: »

The devil is using the mainstream media to cause division and rioting. Let their destruction sit with them for all to see.

Sure thing, Nostradamus.

alchemist33

one world order wrote: »

The devil is using the mainstream media to cause division and rioting. Let their destruction sit with them for all to see.

You're right, Trump should pay for it himself

Kidchameleon

Overheal wrote: »

So nobody in particular, any elected official, or authority figure

That's one way of interpreting "the left" yes. Well done.

one world order

alchemist33 wrote: »

You're right, Trump should pay for it himself

There is a reason why the devil is using the mainstream media to plant hate in people’s hearts of Trump. America was created based on liberty, freedom and justice, which are Christian values. For the Devil to succeed, America needs to be destroyed. We are seeing the destruction of America in front of us by those that have turned away from God and are now following the Devil.

Overheal

Kidchameleon wrote: »

That's one way of interpreting "the left" yes. Well done.

And what’s your way?

weisses

one world order wrote: »

There is a reason why the devil is using the mainstream media to plant hate in people’s hearts of Trump. America was created based on liberty, freedom and justice, which are Christian values. For the Devil to succeed, America needs to be destroyed. We are seeing the destruction of America in front of us by those that have turned away from God and are now following the Devil.

Thanks for that post ... best remedy against my constipation

Carfacemandog

Overheal wrote: »

Who encouraged it? Certainly not the voting, working taxpayers of MN who will now shoulder the burden alone.

We all know who one of the main people encouraging armed protests and mass gatherings during a pandemic was, and it was Donald Trump.

We also all know that many of the same supporters of Trump like the ones in this very thread were absolutely in favour of those protests.

Timberrrrrrrr

one world order wrote: »

There is a reason why the devil is using the mainstream media to plant hate in people’s hearts of Trump. America was created based on liberty, freedom and justice, which are Christian values. For the Devil to succeed, America needs to be destroyed. We are seeing the destruction of America in front of us by those that have turned away from God and are now following the Devil.

Gway with your sky fairies ffs :rolleyes:

Overheal

Carfacemandog wrote: »

We all know who one of the main people encouraging armed protests and mass gatherings during a pandemic was, and it was Donald Trump.

We also all know that many of the same supporters of Trump like the ones in this very thread were absolutely in favour of those protests.

Indeed he's always been in favor of politically motivated violence.

Danno

Carfacemandog wrote: »

We all know who one of the main people encouraging armed protests and mass gatherings during a pandemic was, and it was Donald Trump.

We also all know that many of the same supporters of Trump like the ones in this very thread were absolutely in favour of those protests.

Those protesters didn't trash, burn and loot the place - and then have the audacity to tap the taxpayer for the bill to cover the mess.

Reminds me of some within certain co-hort of Irish society, roaming from town to town, trashing the roadside where they stop, and the local council foots the clean-up bill.

They usually have the ear of a left wing NGO who will tell everyone else it's their fault.

Carfacemandog

kilns wrote: »

There are numerous articles on it, just google. When he was a toddler he was already receiving a huge salary from his father

In total he has received USD413m in todays money from his father. I would be fairly confident his net worth now would not even match this.

https://www.nytimes.com/2018/10/02/us/politics/donald-trump-wealth-fred-trump.html

You're wasting your time, as the posters false attempt to claim that link is paywalled only served to further prove. The reason I say this because less than 48 hours before your post, I provided that exact same info to that exact same poster, and who I can almost guarantee will try to pull out that same "$1mn" line on this issue somewhere between here and November.

https://www.boards.ie/vbulletin/showpost.php?p=114002877&postcount=8999

Just for your own info, going forward.

alchemist33

one world order wrote: »

There is a reason why the devil is using the mainstream media to plant hate in people’s hearts of Trump. America was created based on liberty, freedom and justice, which are Christian values. For the Devil to succeed, America needs to be destroyed. We are seeing the destruction of America in front of us by those that have turned away from God and are now following the Devil.

Sure, but just to be clear, Trump is the devil in this scenario, yes? I mean, that stunt holding a bible upside down outside a church was typical antichrist stuff