DawgTalkers.net Forums DawgTalk Palus Politicus Trump Paid $750 in Federal Taxes in 2016 and 2017

There was nothing to prevent him from showing his tax returns even though he was under audit. I mean the government already has them so he wouldn't be providing them anything they didn't already have.

The reason people hide things that are normally shown is because they are trying to hide what it shows. He didn't want the American people to see the truth. He never does. Even when they see things he claims they aren't seeing what they're seeing.

"Just remember, what you are seeing and what you are reading is not what's happening," Trump said. "Just stick with us, don't believe the crap you see from these people, the fake news."

So his story is that only he knows the truth, only he tells the truth and only he can tell you what the truth is. What do they call that again?

What's the math on that?

Presidential Salary vs 500 members @ extra $100K per membership? smh.

And yes - he could have released the tax records like every other candidate in the last few decades ... the "audit" didn't impact his ability to share the records one iota. We all knew why he didn't release them.

That is one thing I thought about when he said he did not want to release his tax returns initially.

"He doesn't want the auditors to see his tax returns?" Made no sense.

He could make it all go away by releasing the taxes-but it is easier to cry about the NYT and call it fake news.

And you could have done it on your own terms at any time in the past 4-5 years-so don't whine that they were released 5 weeks before the election

he should be happy.


NY Times helped him fulfil a campaign promise.

Trump literally can't afford to lose the election

Peter Weber
President Trump.Illustrated | Getty Images, iStock
September 28, 2020




It isn't a new idea that President Trump is better at playing a billionaire on TV than earning enough money to be one in real life. But The New York Times got the goods to prove it — 18 years worth of tax documents, from 2000 to 2018 — and released the first bombshell Sunday night (while promising to "publish additional articles about our findings" in coming weeks). It's a doozy.

One eye-catching takeaway from the deep look into Trump's strenuously shielded tax filings is that Trump loses a lot of money. Like, a lot. He loses millions at his prized foreign and U.S. golf properties, the Trump International Hotel in Washington, D.C., and many of the roughly 500 entities that make up the Trump Organization.

The Times also details how Trump uses those deep-red losses to avoid paying federal income tax, at least in the U.S. There was a two-year period in which he made too much money to avoid paying taxes, thanks to his share in NBC's The Apprentice, but he then filed for a refund when the opportunity presented itself after the 2008 financial meltdown. That $72.9 million in refunded taxes plus interest is under audit and has been for years, the Times reports. Trump paid just $750 in federal income tax in both 2016 and 2017, the most recent years in the data the Times obtained.


But "the picture that perhaps emerges most starkly from the mountain of figures and tax schedules prepared by Mr. Trump's accountants is of a businessman-president in a tightening financial vise," deep in debt with the bill coming due, the Times reports. That raises the troubling question of whether Trump can literally afford to lose power on Nov. 3 — and what he might do to prevent an electoral defeat and financial ruin.

During the 2016 campaign, Trump proclaimed himself the "King of Debt," telling CBS's Norah O'Donnell that "nobody knows debt better than me. ... I've made a fortune by using debt, and if things don't work out I renegotiate the debt. I mean, that's a smart thing, not a stupid thing." Renegotiating means "you go back and you say, 'Hey, guess what, the economy crashed,'" he explained. "'I'm going to give you back half.'" That nearly destroyed him in the early 1990s, after almost all his bets failed in short order.

The lessons Trump learned in the early 1990s "undoubtedly shaped his business approach and the conservative nature of how we conduct business today," Eric Trump, who currently runs the Trump Organization for his father, told The Washington Post in 2018. Trump started paying cash for properties in about 2006, when his Apprentice money started coming in.

But the newly obtained "tax records show that Mr. Trump has once again done what he says he regrets, looking back on his early 1990s meltdown: personally guaranteed hundreds of millions of dollars in loans, a decision that led his lenders to threaten to force him into personal bankruptcy," the Times reported Sunday. "This time around, he is personally responsible for loans and other debts totaling $421 million, with most of it coming due within four years. Should he win re-election, his lenders could be placed in the unprecedented position of weighing whether to foreclose on a sitting president."

Along with more than $300 million in loans coming due in the next four years for which he is personally responsible, Trump might have to pay back the federal government more than $100 million, including interest and penalties, if the Internal Revenue Service determines he improperly obtained the $72.9 million tax rebate. Trump has valuable assets he might be able to sell (but really doesn't want to) — but he also currently serves as the top executive of the same federal government that includes the IRS and America's federal prosecutors.

If you think Trump wouldn't lean heavily on Attorney General William Barr or Treasury Secretary Steven Mnuchin to protect his personal finances in a second term, or that Barr or Mnuchin are above tipping the scales even a bit, Trump might have a bridge to sell you. Or a condo. Mnuchin's refusal to hand Trump's tax returns over to congressional investigators, and the Justice Department's half-successful defense of that decision, are the reason we are learning what's in Trump's tax filings from The New York Times.

Deutsche Bank, one of Trump's largest lenders, would likely "do the easy thing" and extend Trump a short-term loan extension until he's out of office, Mike Offit, one of Trump's bankers in the 1990s, told Mother Jones in August. "It's even more trouble if they try to foreclose on the president. Good luck with that. That's the way they're going to put themselves back in the news every day."

Any other bank would decide that Trump "is toxic," U.C. Berkeley real estate finance professor Nancy Wallace told Mother Jones. "Exposing yourself to that kind of oversight under the current regulatory reality, for lenders who are large enough to provide capital to him, is just a nonstarter." That would leave Trump at the mercy of "opportunistic lenders" less hesitant to come after him for delinquency, even in the Oval Office, Offit said. Hedge funds "would lend to Ted Bundy. They don't care." Wallace agreed that some private equity fund could "be very tempted if he was willing to pay a very high coupon."

The Times, working from Trump's self-reported tax information, could not determine his net worth or the identity of his lenders. Having a president deeply indebted to unknown lenders is a clear national security threat.

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Which brings us to our second question: If Trump can't afford to lose power, can America afford having him in power for another four years?

The available data just scratch the surface of "the actual and potential conflicts of interest created by Mr. Trump's refusal to divest himself of his business interests while in the White House," the Times reports. "His properties have become bazaars for collecting money directly from lobbyists, foreign officials, and others seeking face time, access, or favor." Turkey's authoritarian government, led by President Recep Tayyip Erdogan, has "not hesitated to leverage various Trump enterprises to their advantage," the Times says.

On issue after issue, how can we know if Trump is acting in America's interest or his own?

"It's highly disconcerting," Virginia Canter, chief ethics counsel at the watchdog group Citizens for Responsibility and Ethics in Washington (CREW), told Mother Jones. "I'm sure in some ways the best thing that could happen is that he not win re-election."

#1 I'm not a "Dem".

#2 I assuming most people understood I meant if it is proved that it was illegal. They wouldn't be investigating if they didn't suspect something illegal. If it is proven that no fraud occurred, then he wouldn't go to jail.

#3 Suspicion of $73 million in tax fraud should be enough to eliminate any chance of running for office. He is a liability.

#4 This whole situation proves Trump is a fraud, whether illegally or not.

Won't matter.
He won't lose a single vote.

To quote John Hammond, the financier of Jurassic Park:

" You know the first attraction I built... was a flea circus. A flea circus. Petticoat Lane. Really, quite wonderful. We had uh...a wee trapeze, a merry-go-... carousel. Heh. And a see-saw. They all moved, motorized, of course, but people would say they could see the fleas, 'Oh, mummy! I can see the fleas, can't you see the fleas?' Clown fleas, highwire fleas and fleas on parade..."

Some of my neighbors went to the county fair every year... and fell for the same midway "attractions" [scams] year after year after year.


Like I said: not one single vote.

And here you are again, falling for the same scam, year after year.

Collusion had your hair on fire.
Russian Traitor had you smiling.
Ukraine Quid Pro Quo had you salivating.
All the unnamed sources and FBI/CIA accusations, illegally leaked to a corrupt Media, FAKE NEWS for the masses, and you fell for it, time after time after time.

It would be funny if it wasn't so putrid.
Now this.

So sad to see you guys this desperate to win an election.

Sad to see you having to constantly come up with excuses for Pocapornstar.

So sad to see a Christian endorse and vote for an adulterous hypocritical non-christian bigot who enjoys two Corinthians the most.

Maybe one day you'll stop playing a character here and actually show who you are behind the mask.

205,000 dead Americans so far doesn't seem to phase you in your attempt to downplay it.

go have some more cotton candy, and resume counting fleas, Ol' Reliable.

You go round and round like idiots on a Merry-Go-Round, thinking they are getting somewhere.

The fatal flaw of the Leftist is thinking the American People are stupid.

We see you, we see what you are up to, we know how you run.

Judging by how much you’ve been posting it’s obvious you’re scared of your taxes being used to help support the less fortunate.

Apparently those 500 members didn't have a problem with the membership fees going up.


You don't know me very well. If something I like goes up in price too much, I don't buy it, or use it, or get it anymore.

I’d love to see the tax sheets of all Trump businesses.

What would you do with them that the IRS hasn't?

I mean - let's imagine (**not saying it is true**) that Trump is $400M in debt to Russian banks, and they have been pressuring him.

That is something that I think American Voters should care about.

That is not something the IRS would care about - it is not illegal to be in debt to Russian banks.

The IRS's interest in Trump's tax returns don't (and shouldn't!) be affected by the fact that he is president. The public's interest in Trump's finances has a lot to do with the fact that he is president.

Thank you for a clear, respectful, post. I mean that.

But let's back up a step. "let's imagine he's 400 million in debt to russian banks".....Ok, so we don't know?


Regardless, even if he is, which I wouldn't doubt, is he late on payments? (we have no idea), ARE they pressuring him, and if so, how? (we have no idea)

The thread is about taxes........and the IRS so far has not found against him. Will they, could they in the future? Absolutely possible. But the IRS would know that, not some unnamed leak, that so far is not verifiable.

And if someone is going to tell me the Times has more info than the IRS, I'm going to call bull.

It just seems, since russia is to some extent an enemy, that 1 side goes all "russia russia russia", constantly.

I think, based on the times reporting, that we know he that he currently has taken out about $420M in loans. You are right, we do not know who owns those loans.

One thing that I think is very important though -- is that the owner of the loans doesn't need to stay the same.

If I was a billionaire, I could (in principle) buy those loans from whoever owns them. Then Trump would owe me money. Once you take out a big loan from a Bank or anybody else, you may not have a lot of control over who you eventually owe money to.




I think the thread is about the new information we have learned about Trump's finances - based on his Tax Returns.

The headline of the story was how little he has paid in Taxes -- this is probably legal (as I've mentioned throughout) -- but also an indication of how rich people game the system.

But much of the NYTimes article is also about his financial stability, and the significant losses that many of his business ventures are taking simultaneously.




I agree with you -- the IRS certainly has all of this information -- and they are very likely to have more, especially if (as the Times reports) there is ongoing litigation about his refunds.



Eric Trump in 2014: 'We have all the funding we need out of Russia'

https://thehill.com/homenews/news/332270...-the-funding-we

It certainly makes you re-interpret some of these comments.

I think a lot of Trump's dealings with Russians have been very confusing to an outside observer, unless there is something personal at stake.

The tax game is not fair and Trump is not putting a stop to it. Does anyone thing Biden is going to change things either? He is part of the Washington insiders that helped create the rigged game. If this bothers you, then your head will explode if you ever find out what companies like Apple and Google have been doing. Trumps companies are poor compared to them. The IRS isn't helping either. They are more likely to go after mom and pop businesses than the big guys.

Totally agree.

But anybody who wants to change this system (e.g., Warren, Sanders) immediately gets labeled a socialist.

Read them
All the IRS has at this point are trump's tax returns. Which is why they haven't proven any wrong doing yet

Without the business ledgers, the IRS cannot prove any wrong doing. Which is why they have been subpoenaed, nd why trump and his lawyers are fighting so hard against those subpoenas.

Ok.

j/c

Well, well well. This is interesting, and as provable as the leaks the unknown person had, that Cohen wrote in his for profit book, and the msm took up as fact.

https://www.westernjournal.com/bidens-us...d_ux-8kqxENNg_g

Hi arch.

This thread is about the presidents financial incompetence.

If you wish to start a new thread about neoliberals, please click the “new thread” button.

Please avoid using soviet style propaganda techniques.

I'll post as I see fit, thanks Mr. Uber Educated.

Don't like what I posted? Wonder why...........

No comment on what I posted? I wonder why?

Post what you want, arch. Rocket has absolutely no business to tell others to not hijack threads. I have "receipts." LOL

Sort of like Biden getting contracts for his son?

Like I said, NO comment on the validity of my post, which is just as valid as the un named source for the original post............you know, the one where the un named person, and the Times, apparently has access to Trumps tax returns.......which are not public documents, so IF there is any truth to them, someone is in real trouble for leaking them. IF there is any truth to them.


Hell, I myself could say tonight 'a source told me that Biden does......." whatever, and I'd be just as accurate as this un named leaker.

Side note - I don't know a single Democrat that indicated they would vote for Biden during the primaries and I talked to quite a few people. I knew supporters for Warren, Bernie, Mayor Pete, Tulsi Gabbard, Yang. So, I don't know how Biden got so many votes when he inspired nobody, but I have no faith that the DNC is not completely rigged.

Trump in 2011 said lower-income Americans should have to pay taxes to 'be a part of the game' and said he paid 'a lot'

https://www.cnn.com/2020/09/28/politics/kfile-trump-taxes/index.html