Trump's tax returns

[The Don]

Let me get this right. Trump is a crap businessman whose businesses are pretty much all failing. The only ones making money are a TV show and Presidency, both which presupposed him being a good businessman.

Hmmm.

I'm still not 100% sure about that first part.

His businesses in the US are showing a considerable loss but it doesn't necessarily mean they are failing. After all, according to studio accountants, the Harry Potter franchise lost a ton of money. There could be Trump businesses in tax efficient jurisdictions which are making a load of money.

 

[Aridas]

Let me get this right. Trump is a crap businessman whose businesses are pretty much all failing. The only ones making money are a TV show and Presidency, both which presupposed him being a good businessman.

Hmmm.

Sounds about right.


To poke a bit at elsewhere, for the "fun" of it -

Michael Cohen reveals in his book: “I remember sitting in Trump’s office on the 26th floor when a tax refund check for $10 million from the government arrived. He held the check up for me to see, flabbergasted but also delighted.”

“Can you believe how ******* stupid the IRS is?” Trump asked. “Who would give me a refund of ten ******* million dollars? They are so stupid!”

 

[Foster Zygote]

Or Pence turns around and says "Sir, I never promised you a pardon...."

Years ago, when Trump was still nothing more than a real estate shyster, I read an article somewhere (haven't had any luck finding it) that described him as a man surrounded by people who pretend to be his friends, but who all secretly hate his guts. I strongly suspect Pence would just as gleefully stick the knife in as anyone else among his hangers-on.

 

[Horatius]

Here's my prediction if Trump loses the the election:

Trump pardons his entire family for all federal crimes sometime between the confirmation of Biden's win and Jan 19th, 2021.
On January 19th or just before, Trump resigns. Pence is sworn in. He pardons Trump for all federal crimes. Trump then leaves for Mar a Lago.

That keeps them out of prison for these crimes.


Does anyone here actually believe that this family, into at least their third generation of routine tax fraud, mortgage fraud, and bank fraud, will suddenly become paragons of virtue after this circus finally folds its tent?

 

[The Great Zaganza]

So much did Trump donate to charitable causes?

Or was he too modest to mention them on his tax returns?

 

[Distracted1]

Here's my prediction if Trump loses the the election:

Trump pardons his entire family for all federal crimes sometime between the confirmation of Biden's win and Jan 19th, 2021.
On January 19th or just before, Trump resigns. Pence is sworn in. He pardons Trump for all federal crimes. Trump then leaves for Mar a Lago.

Trumpsters eat that up.

The pardon is the "mic drop" at the end of all the trolling.

 

[Crossbow]

I'm still not 100% sure about that first part.

His businesses in the US are showing a considerable loss but it doesn't necessarily mean they are failing. After all, according to studio accountants, the Harry Potter franchise lost a ton of money. There could be Trump businesses in tax efficient jurisdictions which are making a load of money.

I am not 100% sure either, but I would say that I am about 90% to 95% sure that currently Trump is loosing far more money than he is making.

After all, when one considers all of his other previous, and numerous, business failings, then I would say that one can be nearly certain that his current business ventures are failing as well.

 

[Suddenly]

This article amuses me:

https://www.theroot.com/president-trump-is-putin-s-drug-holder-and-other-things-1845202126

The president is not only a scrub who can’t get no love from American banks but somehow—and this might be the whitest part of this entire scandal—with the president claiming massive losses he was still able to get more money on credit.

I figured I'd share because the article is funny, that this makes a good point, and I eagerly await posts claiming this is racist against whites because I really can't get enough of clueless indignation.

 

[The Great Zaganza]

We have finally identified the villain who inflicted Trump on us:
the IRS for not collecting on him years ago.

Too bad that the House didn't investigate how the IRS deals with the taxes of Presidents ...

 

[eeyore1954]

You are dreaming about a different electorate. In the real world 50% of the US electorate would view such tax evasion as a virtue.

I would hazard that the overwhelming majority is in favor of a little tax evasion they just usually don't not have much they can work with.
This is from someone who has prepared taxes for thousands of people.

 

[Craig4]

The real question is, who owns the debt? Who owned it when it the loan was made and who owns it now? One of the nits who grew into lice said in an interview that the Trump organization got plenty of money out of Russia so didn't need to go to US banks.

https://thehill.com/homenews/news/3...-on-american-banks-we-have-all-the-funding-we

 

[The Great Zaganza]

I would hazard that the overwhelming majority is in favor of a little tax evasion they just usually don't not have much they can work with.
This is from someone who has prepared taxes for thousands of people.

how do they feel about defrauding the IRS of $70 million?

 

[JoeMorgue]

Since the "who the debt is owed to" question wasn't answered in the NYT expose or already common public knowledge in some other way, I think it's safe to assume the answer is "nobody good."

 

[JoeMorgue]

how do they feel about defrauding the IRS of $70 million?

The IRS is almost universally hated.

And not the fact that the money the IRS takes pays for stuff will not matter, there's a disconnect there.

 

[eeyore1954]

I have not read the article but it seems from the headlines exactly what I would expect. Small taxes paid which is not necessarily unusual for investors that hold types of property that are good for capital appreciation.

It would not surprise me that many times he takes too aggressive of a position on his returns. Whether or not it reaches criminal is a bigger question. I am assuming all of this information released (if accurate) is/has been investigated by the IRS. He has been claiming large losses for a long time as seen by the previous release.

 

[eeyore1954]

how do they feel about defrauding the IRS of $70 million?

Is there real evidence of it?

 

[eeyore1954]

The IRS is almost universally hated.

And not the fact that the money the IRS takes pays for stuff will not matter, there's a disconnect there.

The IRS is almost universally hated but people hate it when the really rich cheat on their taxes. IE Leona Helmsley.

 

[JoeMorgue]

Is there real evidence of it?

Maybe don't brag about having not read the article and then sea lion "LOL is there evidence?"

 

[Squeegee Beckenheim]

The NYT has released their own TL/DR version

 

[eeyore1954]

Still, the report found Trump’s businesses paid much more to other countries than he paid in federal income taxes, including $145,400 in India and $156,824 in the Philippines in 2017.

Pelosi called it “strange” that Trump paid much more to other governments than to his own in the same year.

If these are taxes paid to other countries it isn't strange. You get a credit for taxes paid to other countries. The calculation can be complicated though.