Trump's tax info is out

Timberrrrrrrr

Outlaw Pete wrote: »

https://twitter.com/realDonaldTrump/status/1310587468731879431
https://twitter.com/realDonaldTrump/status/1310587471231582208


Be nice now if the mainstream liberal media could just focus on who is doing / will do the best job for America instead of this constant effort to by the left to find sticks / twigs to beat him with given everything else they have tried in their efforts to take him down hasn't worked.

You mean leave him alone? One little tweet from him and he/you thinks it will just go away? The man's a proven liar, why should anyone believe a word he has said in that tweet?

Ffs he slated Obama about his taxes yet doesn't like his own being bought up :pac:

irishblessing

zom wrote: »

This is pure trolling and you should know that. How much you earn??

When I run for US President or Taoiseach I'll hand over my tax returns to you personally. :cool:

Quin_Dub

Outlaw Pete wrote: »

https://twitter.com/realDonaldTrump/status/1310587468731879431
https://twitter.com/realDonaldTrump/status/1310587471231582208


Be nice now if the mainstream liberal media could just focus on who is doing / will do the best job for America instead of this constant effort to by the left to find sticks / twigs to beat him with given everything else they have tried in their efforts to take him down hasn't worked.

Wow - That cover-story shifted fast..

So now the information isn't "Fake" , it's "Illegally obtained" - So it's True..

That barely lasted a day..

But yeah.. let's focus on the here and now.

• 205,000 dead under Trump
• 57% of people earning less money after his tax cuts (pre covid) than they did under Obama
• Less Jobs created by Trump in his 1st 3 years, then created under Obama (and Biden) in their last 3 years

tobefrank321

Either the "losses" are legitimate and he's a terrible businessman or the losses are a calculated plan to minimize paying a fair amount of tax.

That said, there is an element of Healy-Raeism to Trump and his base. No matter what he does, it plays well with the base and they will rally to his defence. He might even attract a few neutrals tired of the media going after him.

This issue will fly over the heads of most Americans sadly. Some may even think he's a hero for paying so little tax, not realising they have to make up the shortfall. The guy can do no wrong in the eyes of a large number of Americans.

Heart Break Kid

irishblessing wrote: »

https://thehill.com/homenews/administration/518510-trump-paid-no-income-taxes-for-10-of-past-15-years-report

Breaking news today: "Newly unveiled tax information about President Trump shows he avoided paying income taxes for 10 out of 15 years leading up to the 2016 presidential election, and paid just 750 dollars in income taxes in 2016 and 2017. According to the documents unveiled by the NYT, Trump is also hundreds of millions in debt."

I have paid more than this guy in taxes in the last 15 years. Let's see how this plays out with their voters.

You can offset losses against Tax liabilities, hardly breaking news. Also, wasn't this already reported. Finally, income tax is one kind of tax.

https://www.revenue.ie/en/companies-and-charities/corporation-tax-for-companies/corporation-tax/trading-losses.aspx#:~:text=If%20a%20company%20sustains%20trading,the%20immediately%20preceding%20accounting%20period.

R.F.

tobefrank321 wrote: »

The guy can do no wrong in the eyes of a large number of Americans.

a few on here also appear to be drinking the Kool-Aid too

Trump has given a certain group of people a voice. Hopefully November goes well and they can all creep back into obscurity

all about the mane

TheBlackPill wrote: »

Says the New York times. The representative of Trump disputes this and says millions paid. Going on past witch hunts would suggest i would believe the Trump representative rather than the paper. Remember when we were all told Trump was in Epsteins airplane. When the dust settled we found he had shared it once going to a USA destination but multiple demoxrat politicians had flown multiple times to Epsteins private island(B Clinton ang G Mitchell included).
We also find out that Epstein had been banned from all Trump resorts and reported to Police after an incident in a Trump resort.

So Trump was in Epstein's airplane?

Donald Trump

Heart Break Kid wrote: »

You can offset losses against Tax liabilities, hardly breaking news. Also, wasn't this already reported. Finally, income tax is one kind of tax.

https://www.revenue.ie/en/companies-and-charities/corporation-tax-for-companies/corporation-tax/trading-losses.aspx#:~:text=If%20a%20company%20sustains%20trading,the%20immediately%20preceding%20accounting%20period.

You can read my earlier post https://www.boards.ie/vbulletin/showpost.php?p=114750439&postcount=145


From what I recall, if memory serves me correctly, a loophole in the taxation system allowed the entity to "own" the losses even if they weren't ultimately the people affected.




Suppose "Heart Break Kid" bought a hotel for 100m, got a 500m loan and lavishly upgraded it.


5 years down the line, the hotel has made no money and the property is still only worth 100m. It has effectively made a loss of 500m over that time. Creditors aren't going to be paid and so they are forced to accepts a write down of 80 cents in the dollar. They will receive 100m back on a restructured loan and the hotel will be allowed to continue as a going concern.



The loophole was that, even though it was the lenders who really absorbed most of the 500m loss, "Heart Break Kid" was allowed to keep the entire 500m amount on paper to write off against his own personal future profits. He did lose 100m. But in return his next 500m is tax free!

tobefrank321

Heart Break Kid wrote: »

You can offset losses against Tax liabilities, hardly breaking news. Also, wasn't this already reported. Finally, income tax is one kind of tax.

https://www.revenue.ie/en/companies-and-charities/corporation-tax-for-companies/corporation-tax/trading-losses.aspx#:~:text=If%20a%20company%20sustains%20trading,the%20immediately%20preceding%20accounting%20period.

The main question though is, were the losses legitimate.

If I own a company and paid a relative or friend a huge undeserved salary and the company loses money for the year, are these losses legitimate?

Either he's a terrible businessman or more likely he's smart enough to know how not to pay tax. He admitted the latter. He clearly doesn't believe in paying tax and there's a large number of people in his base who agree with this, as they aren't smart enough to know otherwise.

the purple tin

I would like to see Robert Mercer's tax returns. He probably pays a pittance like the rest of the billionaires.

Quin_Dub

Donald Trump wrote: »

You can read my earlier post https://www.boards.ie/vbulletin/showpost.php?p=114750439&postcount=145


From what I recall, if memory serves me correctly, a loophole in the taxation system allowed the entity to "own" the losses even if they weren't ultimately the people affected.




Suppose "Heart Break Kid" bought a hotel for 100m, got a 500m loan and lavishly upgraded it.


5 years down the line, the hotel has made no money and the property is still only worth 100m. It has effectively made a loss of 500m over that time. Creditors aren't going to be paid and so they are forced to accepts a write down of 80 cents in the dollar. They will receive 100m back on a restructured loan and the hotel will be allowed to continue as a going concern.



The loophole was that, even though it was the lenders who really absorbed most of the 500m loss, "Heart Break Kid" was allowed to keep the entire 500m amount on paper to write off against his own personal future profits. He did lose 100m. But in return his next 500m is tax free!

That does indeed seem to be the business model.

• Buy a Turd
• Polish the Turd with other peoples money
• Despite the polish , Customers can still see it's a Turd so it loses money.
• Get Tax right offs on the (other peoples) money spent on Polishing said Turd
• Use that leverage to buy another Turd
• Repeat.

Genius.

steddyeddy

Outlaw Pete wrote: »

https://twitter.com/realDonaldTrump/status/1310587468731879431
https://twitter.com/realDonaldTrump/status/1310587471231582208


Be nice now if the mainstream liberal media could just focus on who is doing / will do the best job for America instead of this constant effort to by the left to find sticks / twigs to beat him with given everything else they have tried in their efforts to take him down hasn't worked.

I don't know if you live or work in America Pete but you're seriously mischaracterising the nature of opposition to Trump. You're doing yourself a disservice by characterising all dislike of Trump as "left".

The big news in America prior to Trump's tax returns was the amount of GOP politicians (republican party members) who are supporting Biden. It's unprecedented in terms of opposition to a president from his own party members.

Former Gov. John Kasich, who challenged Trump for the GOP nomination in 2016, has been one of Biden’s most vocal Republican backers, lauding his “experience and his wisdom and his decency” at the Democratic convention on Monday.

Biden has won the endorsements of four Republican cabinet secretaries; Obama administration Defense Secretary Chuck Hagel and Transportation Secretary Ray LaHood, and Bush administration Secretary of State Colin Powell and EPA Director Christine Whitman, who appeared at the DNC alongside Kasich.

Anthony Scaramucci, who served as Trump’s White House communications director for just two weeks, endorsed Biden and called Trump “crazy,” while former Homeland Security Department Chief of Staff Miles Taylor accused Trump of withholding disaster aid from blue states and claiming “magical authorities” above the law.

Carly Fiorina, a former Hewlett Packard CEO and GOP presidential candidate who was briefly the running mate of Sen. Ted Cruz (R-Tex.), said she cannot support Trump and that “elections are binary choices,” while Meg Whitman, another Hewlett Packard CEO, said at the DNC on Monday that Trump “has no clue how to run a business, let alone an economy.”

Penn

Outlaw Pete wrote: »

Be nice now if the mainstream liberal media could just focus on who is doing / will do the best job for America instead of this constant effort to by the left to find sticks / twigs to beat him with given everything else they have tried in their efforts to take him down hasn't worked.

Yeah, because those three tweets sure have cleared the whole thing up.

threeball

Penn wrote: »

Yeah, because those three tweets sure have cleared the whole thing up.

This is Outlaw Pete you're talking to. He thinks Trump adding $7 trillion to the national debt is doing his best for America. Rational thought left years ago.

BattleCorp

tobefrank321 wrote: »

Either the "losses" are legitimate and he's a terrible businessman or the losses are a calculated plan to minimize paying a fair amount of tax.

I'm going with option two there Bob..........sorry Frank.

steddyeddy

threeball wrote: »

This is Outlaw Pete you're talking to. He thinks Trump adding $7 trillion to the national debt is doing his best for America. Rational thought left years ago.

I think you need to give Pete more credit here. I vey much doubt he believes what he says about Trump.

steddyeddy

BattleCorp wrote: »

I'm going with option two there Bob..........sorry Frank.

Personally I'll go with a little from column A and a little from column B. He is a terrible businessman but he's certainly overplaying his losses.

irishblessing

steddyeddy wrote: »

The "billionaire" who hides his taxes.
The "genius" who hides his college grades.
The "business man" who bankrupted a casino.
The "playboy" who pays for sex.
The "Christian" who doesn't go to church.
The "philanthropist" who defrauds charity.
The "patriot" who dodged the draft.
The "innocent man" who refuses to testify and fires people who are investigating him.

The "playboy" who gropes and peeps (and worse) on women without permission and admits it on tape.

Bonniedog

Trump's tax info is not "out." It is under audit by IRS.

Real story about corruption in last few days relates to the Clinton Foundation. Hence the rush to break this story which they were hoping to keep for later in campaign.

BTW, it seems to have been a bit of a damp squib. RTE probably one of few major broadcasters other than CNN and ilk trying to big it up.

Tomorrow we see the first evisceration of Dopey Joe. Should be fun.

threeball

steddyeddy wrote: »

I think you need to give Pete more credit here. I vey much doubt he believes what he says about Trump.

Well there two options
a. he does and that makes him a word that begins in i and ends in t
b. he doesn't and that makes him a word that begins in t and ends in l

Not great either way

3xh

irishblessing wrote: »

The "playboy" who gropes and peeps (and worse) on women without permission and admits it on tape.

*You can’t spell playboy without women.

Quin_Dub

Bonniedog wrote: »

Trump's tax info is not "out." It is under audit by IRS.

Real story about corruption in last few days relates to the Clinton Foundation. Hence the rush to break this story which they were hoping to keep for later in campaign.

BTW, it seems to have been a bit of a damp squib. RTE probably one of few major broadcasters other than CNN and ilk trying to bit it up.

Tomorrow we see the first evisceration of Dopey Joe. Should be fun.

What story would that be then??

Any links you could share?

Also - Damp Squib?

It's the front page story of every news platform across the globe...

BattleCorp

Bonniedog wrote: »

Trump's tax info is not "out." It is under audit by IRS.

Does that mean that the tax info out in the public eye today was illegally leaked?

Quin_Dub

BattleCorp wrote: »

Does that mean that the tax info out in the public eye today was illegally leaked?

Possibly - But is is interesting to see that the Trump defence has moved very quickly from "It's fake news" and "It's made up" to "The information was illegally obtained , but anyway , it's all good - nothing to see here"

Penn

Quin_Dub wrote: »

What story would that be then??

I think it's been discovered that the Clinton Foundation may have some links to Hilary Clinton.

irishblessing

3xh wrote: »

*You can’t spell playboy without women.

I don't get it.

3xh

Penn wrote: »

I think it's been discovered that the Clinton Foundation may have some links to Hilary Clinton.

Isn’t she just so altruistic and Billy too, helping all those vulnerable and disadvantaged children through it.

How kind.

Nothing to do with it being used as a ‘vehicle’ or ‘mechanism’ for personal gain.

Timberrrrrrrr

3xh wrote: »

Isn’t she just so altruistic and Billy too, helping all those vulnerable and disadvantaged children through it.

How kind.

Nothing to do with it being used as a ‘vehicle’ or ‘mechanism’ for personal gain.

Yeah, if only they ran a nice clean charity like the Trumps.....oh.... wait.

Quin_Dub

3xh wrote: »

Isn’t she just so altruistic and Billy too, helping all those vulnerable and disadvantaged children through it.

How kind.

Nothing to do with it being used as a ‘vehicle’ or ‘mechanism’ for personal gain.

Remind me - Which family have been banned from ever running a charity again because they stole from kids with Cancer?

Gods Gift

What will trump do to take attention away from this though. That’s what I’d worry about.