Trump Lost over $1 Billion in 80s and 90s and Paid No Taxes

Discussion in 'Political Discussions' started by sanantone, May 8, 2019.

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  1. sanantone

    sanantone Well-Known Member

  2. SteveFoerster

    SteveFoerster Resident Gadfly

    I wonder whether his losses were really that catastrophic or whether there's an element of "Hollywood accounting" for tax avoidance.
     
    rodmc likes this.
  3. sanantone

    sanantone Well-Known Member

    That's another possibility. He allegedly helped his dad commit tax fraud.
     
  4. Kizmet

    Kizmet Moderator Staff Member

    The interesting part is that after that run of failures he made a comeback. The question arises, after losing all that money in the 80s and 90s, where did the comeback money come from? Some Russian guy perhaps?
     
  5. JBjunior

    JBjunior Active Member

    Insight or incitement.....

    Perhaps even with losses he still had assets that regained market value and continued to build.
     
  6. Kizmet

    Kizmet Moderator Staff Member

    And if that were the case you'd expect that he's be happy to show (perhaps by revealing tax documents) how brilliant he was at rebuilding his fortune. As it is however, he appears committed to hiding all this information. Even the most fair-minded person would have to admit that this begins to present as obfuscation and evasion. If there's nothing to hide then why is he hiding it?
     
  7. Bill Huffman

    Bill Huffman Active Member

    Maybe, part of what may be going on here, is a strange rule that may no longer be possible. My understanding anyway is that when someone defaulted on a loan and did not pay that loan back the person defaulting on the loan could claim the whole loan as part of their own lose, at least for tax purposes. I suspect that this might have been a factor in the larger losing years. All these defaulted loans dried up all sources of loans for Mr. Trump. Then mysteriously Deutsche Bank saved Trump and started loaning him huge sums. Deutsche Bank coincidentally was fined in 2017 for laundering billions of dollars for Russia. Trump is fighting tooth and nail to prevent Deutsche Bank from turning over subpoena information to the congress. What is eventually discovered might be more bombshell headlines in the next few months.
     
  8. Phdtobe

    Phdtobe Well-Known Member

    About a year ago again and I was discussing what makes great. For me, it was the American Dream. I think that one of the reasons why there are so many candidates in the Democratic Party vying to become president. If Trump can do it with all his faults then anyone can. Maybe his imperfection is appealing.
     
  9. sanantone

    sanantone Well-Known Member

    He got millions from his father, and Deutsche Bank was the only bank that would loan him money. Deutsche Bank is known for being crooked. Trump is also accused of buying shares of companies, announcing that he might buy them out, and selling the shares after they rose.

    There's also speculation that The Apprentice saved him.
     
  10. Bill Huffman

    Bill Huffman Active Member

    Trump claimed that he made his billions from just a one million dollar loan from his father, that he had to pay back. The truth is that Fred Trump bailed him out of financial ruin countless times. He received about 413 million dollars from his father in all. That is in modern equivalent dollars. I'm not saying that he hasn't made probably hundreds of millions of dollars. There are just some indications that whatever he earns he just spends even more.

    It will be interesting to eventually see how much money he did earn and what his actual net worth is.
     
  11. Phdtobe

    Phdtobe Well-Known Member

    Apparently from this video Trump admit he had huge losses.
    https://video.foxnews.com/v/6034391292001/

    Anyway, my wife thinks I am a Trump supporter so she is kicking me out. I am trying to convince her that I am not.
     
  12. Ted Heiks

    Ted Heiks Moderator and Distinguished Senior Member Staff Member

    Well, are you?
     
  13. Kizmet

    Kizmet Moderator Staff Member

    Yeah, if you're trying to convince her that you're not a Trump supporter then you're doing it wrong.

    [​IMG]
     
    Phdtobe likes this.
  14. Phdtobe

    Phdtobe Well-Known Member

    I am cynical of the Democrats (USA), Liberals (Canada)’s leadership when it comes to them pretending to care for visual minorities.
     
  15. Phdtobe

    Phdtobe Well-Known Member

    She can't be believed as a black person I am making excuses for Trump.
     
  16. Ted Heiks

    Ted Heiks Moderator and Distinguished Senior Member Staff Member

    What is a visual minority?
     
  17. SteveFoerster

    SteveFoerster Resident Gadfly

    Phdtobe likes this.
  18. Phdtobe

    Phdtobe Well-Known Member

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