Trump's 1995 tax return shows that he lost $916 million, which could have allowed him to legally avoid paying taxes for 18 years. http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?_r=0 I posted this in the wrong forum. Can a moderator move this to the politics forum?
New York Times Building The site for the building was obtained by the Empire State Development Corporation (ESDC) through eminent domain. With a mandate to acquire and redevelop blighted properties in Times Square, ten buildings were condemned by the ESDC and purchased from their owners. Some owners sued, asserting that the area was no longer blighted, but lost in court.[5][6] Once the 80,000-square-foot (7,400 m2) site was assembled, it was leased to The New York Times Company and Forest City Ratner for $85.6 million over 99 years (considerably below market value).[7] Additionally, The New York Times Company received $26.1 million in tax breaks.[8] https://en.wikipedia.org/wiki/The_New_York_Times_Building This is pure politics. The NYT is framing what is normal in commercial real estate as something sensational. And what a glass house they occupy.
Seriously, was he supposed to pay more taxes than he was required to pay? If you don't like it that he could carry losses forward, then fine, but don't hate the player, hate the game.
I think the story here is that he lost nearly a billion dollars, not that he legally avoided paying taxes. It gives some insight into why he won't release his tax returns. The embarrassment comes from why he isn't paying taxes, not that he is legally not paying taxes. It's interesting how anti-Clinton people will link to mainstream newspapers whenever they want to bring up a negative, but when these same newspapers report something negative about Trump, it's because they're out to get him. The fact is that Trump promotes himself as a good candidate due to his business successes, but he has gone bankrupt when his competitors haven't. He calls his main opponent a liar when he has also lied about breaking the law by doing business in Cuba. He complains about free trade taking jobs away from Americans, but he has products made in other countries.
Capital loses, and NOL, do also affect ordinary tax payers who have investments. Investments could be a small business, in the stock markets, even coins and stamps. Not keeping track of loses will cause one to pay unnecessary taxes. In Canada many year ago there was a big thing in the news about deferred tax liability/asset from timing difference. Companies were accused by politicians for not paying taxes, but this was an accounting thing, the timing difference between taxable income and accounting income.
Meh...old news. Is this the BIG deal that he lost a bunch of money? I remember this, there was a lot of stuff (news, articles, comedian jokes, etc.) about it at the time. Pretty sure lots of people lost money in that recession. I bet I could even find some articles in the NYT about it. This is like everyone sitting around with baited breath for some bombshell that Assange is going to drop on Hillary. This time it will be a big one! *FART*. Everyone but the sycophants on the right goes "Meh". Same with this. Meh. Good thing about this "gotcha" is that a lot of scoffers are learning about tax code and how to run a business. So there's a positive in that aspect.
I'm not sure that everyone's businesses have gone bankrupt four times, but the economy was in recovery in 1995. However, I do think Trump's debate performance is hurting him more than this tax thing will. Or, I could be wrong. They haven't had a chance to start many polls after the NYT story. Trump still has a chance to recover from the debate, but only if he performs better in the remaining ones. In a CNN/ORC poll, Trump went from being two points ahead to five points down. He also dropped in most other polls.
Trump criticizing people for legally paying little or no taxes. http://www.nytimes.com/2016/10/03/us/politics/trump-taxes-twitter.html
Yeah, the stuff that comes out of his mouth! I tell ya. I think some news story broke that outlines just how much daddy Trompeta helped his son. The figures are WAY above the million dollar loan Trump claims to have received from this dad and repaid. Bottom line, Trump Jr. would have sunk if not for Trump Sr. Good businessman, Genius? I think not.
