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PostPosted: October 1 16, 8:24 pm 
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http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?hp&action=click&pgtype=Homepage&clickSource=story-heading&module=a-lede-package-region&region=top-news&WT.nav=top-news&_r=0

Dude took a nearly $1BB loss in a single year, enough that he could have avoided paying taxes for the subsequent two decades.


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PostPosted: October 1 16, 8:49 pm 
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Completely not surprising. He doesn't pay taxes while us wage earning chumps get hosed (income tax, sales tax, fica medicare, property taxes) meanwhile Trump manages to avoid most of these with his numerous scams.

Too bad the IRS has no teeth to put crooks like Trump in jail


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PostPosted: October 1 16, 8:54 pm 
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Freed Roger wrote:
Completely not surprising. He doesn't pay taxes while us wage earning chumpd get hosed (income tax, sales tax, fica medicare, property taxes) meanwhile Trump manages to avoid most of these with his numerous scams.

Too bad the IRS has no teeth to put crooks like Trump in jail

Theres nothing to put him in jail for in this case. Its entirely legal. Lose a billion and be able to carry over the loss for decades. Now the billion dollar loss /bankruptcies might not be on the up and up. But any loss you take as a business or investor can be carried forward like this.


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PostPosted: October 1 16, 9:22 pm 
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It's totally on the level. I'm just offended that he lost a billion bucks in a single year but presents himself as Mr. Successs and preaches that he alone can fix things.

He's a fraud, plain and simple.


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PostPosted: October 1 16, 9:27 pm 
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Yep, it's legal but it cuts to the heart of Trump presenting himself as a huge success. The other thing it does is show how we have 2 tax systems - one for the ultra wealthy and one for the people he's trying to convince they should vote for him.

The article said the operating loss could have been carried forward from prior years. It is known that he was bleeding money in the early 1990s.

Finally, the documents were postmarked in NYC, and the return address was from Trump Tower. A disgruntled employee getting some revenge?


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PostPosted: October 1 16, 9:40 pm 
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I wouldn't presume it is legal. IRS doesn't have resources to go after lawyered up asswipes like Trump. He may have a scheme to make it legal in form. I seriously doubt he is at risk or personally liable for such a loss to make it legit.. Admittedly I haven't studied asswipe Trump's finances- but I seriously doubt he had a billion dollars too lose.

If the loans that financed those terrible carny investments were forgiven, then he should have income of a similar $ for cancelled debt, maybe with a timing difference. I know, he has numerous entities to shuffle [expletive] around with.

Like I said above, these scams aren't available to wage earning people. IRS is overmatched by big time schemers.. Shame that some.blue collar people have fell for him. Shame that the GOP created this Frankenstein.


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PostPosted: October 2 16, 12:48 am 
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Just another example of the very against business ownership IRS.


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PostPosted: October 2 16, 5:18 am 
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Freed Roger wrote:
Completely not surprising. He doesn't pay taxes while us wage earning chumps get hosed (income tax, sales tax, fica medicare, property taxes) meanwhile Trump manages to avoid most of these with his numerous scams.

Too bad the IRS has no teeth to put crooks like Trump in jail

What crime did he commit?


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PostPosted: October 2 16, 5:21 am 
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Freed Roger wrote:
I wouldn't presume it is legal. IRS doesn't have resources to go after lawyered up asswipes like Trump. He may have a scheme to make it legal in form. I seriously doubt he is at risk or personally liable for such a loss to make it legit.. Admittedly I haven't studied asswipe Trump's finances- but I seriously doubt he had a billion dollars too lose.

If the loans that financed those terrible carny investments were forgiven, then he should have income of a similar $ for cancelled debt, maybe with a timing difference. I know, he has numerous entities to shuffle [expletive] around with.

Like I said above, these scams aren't available to wage earning people. IRS is overmatched by big time schemers.. Shame that some.blue collar people have fell for him. Shame that the GOP created this Frankenstein.

Then abolish the IRS. It's clearly unfair


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PostPosted: October 2 16, 8:03 am 
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Tim wrote:
Freed Roger wrote:
I wouldn't presume it is legal. IRS doesn't have resources to go after lawyered up asswipes like Trump. He may have a scheme to make it legal in form. I seriously doubt he is at risk or personally liable for such a loss to make it legit.. Admittedly I haven't studied asswipe Trump's finances- but I seriously doubt he had a billion dollars too lose.

If the loans that financed those terrible carny investments were forgiven, then he should have income of a similar $ for cancelled debt, maybe with a timing difference. I know, he has numerous entities to shuffle [expletive] around with.

Like I said above, these scams aren't available to wage earning people. IRS is overmatched by big time schemers.. Shame that some.blue collar people have fell for him. Shame that the GOP created this Frankenstein.

Then abolish the IRS. It's clearly unfair


The hilarious thing is the wealthy candidates that say we need a flat tax or to greatly simplify the tax code absolutely are the main ones benefitting from all this insane complexity of shuffling gains and losses around to various entities to avoid taxes. Do any of them ever say we need to simplify those kind of things they benefit from? No, no, that would be "anti-business". I mean I don't know how our economy would survive if rich people were too scared to invest in casinos that are literally rigged to take money from people.


Last edited by pioneer98 on October 2 16, 10:32 am, edited 1 time in total.

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