Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses

Discussion in 'Budget & Taxes' started by AtsamattaU, May 7, 2019.

  1. fmw

    fmw Well-Known Member

    Joined:
    Aug 21, 2009
    Messages:
    9,582
    Likes Received:
    2,525
    Trophy Points:
    113
    Hard to say he lost that much money. It could all have been tax shelters or financial gymnastics. At one time trump was fired as a customer by Deutsche Bank because he owed them $40 million he had failed to pay. He ingratiated himself with the private banking department of Deutsche Bank and got them to loan him $50 million. He used $40 million of the money to pay back the real estate department the money he owed them. He was able to repay the private banking department after he recovered from a bankruptcy or two. He was back in business with Deutsche bank. That is what I mean by financial gymnastics.

    None of that would show in his tax return. You would have to see the books. Personally I doubt he lost that much but he did take a bath financially in Atlantic City. How big a bath I have no idea. Probably nowhere near a billion. All business people engage in legal financial gymnastics. Without it, one would be non-competitive. I've always thought business was fun except for the money part of it. You need to take what the press tells you about his finances with a big grain of salt. The reporters aren't business people.
     
  2. camp_steveo

    camp_steveo Well-Known Member

    Joined:
    Oct 13, 2008
    Messages:
    20,457
    Likes Received:
    3,137
    Trophy Points:
    113
    HAHA! The NYT sold you the intro to the Apprentice....LOL



    New York Times story on Trump's billion-dollar tax write off was told by Trump 15 years ago on 'The Apprentice'

    On Jan. 8, 2004, at the top of the show’s very first episode, Trump laid out a summarized version of the same story about himself that the Times so proudly ran Tuesday.


    https://www.washingtonexaminer.com/...0DlHVCffu4D-JBNBc1btII8YVdHRA03nE_Dd8RvLJA7MY
     
    Last edited: May 11, 2019
  3. Papastox

    Papastox Well-Known Member

    Joined:
    Jul 11, 2014
    Messages:
    9,979
    Likes Received:
    2,380
    Trophy Points:
    113
    So are Obama supporters who thought he was the greatest...
     
  4. Papastox

    Papastox Well-Known Member

    Joined:
    Jul 11, 2014
    Messages:
    9,979
    Likes Received:
    2,380
    Trophy Points:
    113
    All of this is old news. In Season 1 episode1 of the Apprentice, Trump talked very openly about his losses.
     
    Professor Peabody likes this.
  5. rahl

    rahl Well-Known Member

    Joined:
    May 31, 2010
    Messages:
    54,399
    Likes Received:
    5,118
    Trophy Points:
    113
    He was average
     
  6. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

    Joined:
    Apr 19, 2008
    Messages:
    86,832
    Likes Received:
    10,279
    Trophy Points:
    113
    So Warren Buffett is a terrible businessman too? His company Berkshire Hathaway lost $4.3 Billion dollars in a single day after Kraft
    Heinz revealed a string of bad news. Makes Trump's loss look like baby crap don't it.

    https://www.cnbc.com/2019/02/22/war...lion-in-single-day-on-kraft-heinz-plunge.html
     
  7. fmw

    fmw Well-Known Member

    Joined:
    Aug 21, 2009
    Messages:
    9,582
    Likes Received:
    2,525
    Trophy Points:
    113
    Most of the presidents in my life time were average. A couple were below average. The only above-average one was Kennedy. If you want a great one you have to go back to Teddy Roosevelt. Trump could be great one if he could get out of his own way.
     
  8. TomFitz

    TomFitz Well-Known Member Donor

    Joined:
    Jan 9, 2013
    Messages:
    38,426
    Likes Received:
    13,595
    Trophy Points:
    113
    Like I said, guys like you fell hook line and sinker for Trump’s phony billionaire act, and told the rest of us that he was a genius playing three dimensional chess.

    Now that it’s obvious that none of that was true, your way of admitting it is to try and dismiss it as “old news” and try and ignore the fact that you were conned.

    Conservatives played the same turn on a dime game when it became obvious that the Bush Administration’s critics were right about his ginning up imaginary threat to sell an unnecessary and disasterous war.
     
  9. TomFitz

    TomFitz Well-Known Member Donor

    Joined:
    Jan 9, 2013
    Messages:
    38,426
    Likes Received:
    13,595
    Trophy Points:
    113
    Buffett can easily afford it.

    Trump, who is a fake, cannot. If he lost four billion in one day, he’d be found in the trunk of a Russian car.
     
  10. Pred

    Pred Well-Known Member

    Joined:
    Oct 18, 2011
    Messages:
    16,119
    Likes Received:
    6,014
    Trophy Points:
    113
    If you want to call this an argument:) . You’re citing that Hillary got more votes and I stated it doesn’t matter in an election. EC does. Now for what possible reason would you bring that up? It’s a meaningless statistic trying to make a point. But what is the point? If you have no point you’re trolling.
     
    Last edited: May 11, 2019
  11. AFM

    AFM Well-Known Member Past Donor

    Joined:
    Dec 15, 2014
    Messages:
    24,761
    Likes Received:
    4,278
    Trophy Points:
    113
    You might want to think your post through a bit more.
     
  12. AFM

    AFM Well-Known Member Past Donor

    Joined:
    Dec 15, 2014
    Messages:
    24,761
    Likes Received:
    4,278
    Trophy Points:
    113
    Trump didn’t lose $4B in one day. He couldn’t afford his losses of ~20 years ago. But he turned it around and today is very successful employing thousands and paying millions in tax.
     
  13. AFM

    AFM Well-Known Member Past Donor

    Joined:
    Dec 15, 2014
    Messages:
    24,761
    Likes Received:
    4,278
    Trophy Points:
    113
    And yet they did. Think it through.
     
    ButterBalls likes this.
  14. Professor Peabody

    Professor Peabody Well-Known Member Past Donor

    Joined:
    Apr 19, 2008
    Messages:
    86,832
    Likes Received:
    10,279
    Trophy Points:
    113
    You need to re-read the title of this thread.
     
    ButterBalls likes this.
  15. rahl

    rahl Well-Known Member

    Joined:
    May 31, 2010
    Messages:
    54,399
    Likes Received:
    5,118
    Trophy Points:
    113
    Trump has no chance of even being considered average.
     
  16. rahl

    rahl Well-Known Member

    Joined:
    May 31, 2010
    Messages:
    54,399
    Likes Received:
    5,118
    Trophy Points:
    113
    To prove you wrong, obviously.

    I only bring it up when Trumpers claim Americans preferred trump over Clinton. This is demonstrably untrue.
     
  17. rahl

    rahl Well-Known Member

    Joined:
    May 31, 2010
    Messages:
    54,399
    Likes Received:
    5,118
    Trophy Points:
    113
    It is a mathematical impossibility to increase revenue, by cutting the rate at which you collect it.
     
  18. AFM

    AFM Well-Known Member Past Donor

    Joined:
    Dec 15, 2014
    Messages:
    24,761
    Likes Received:
    4,278
    Trophy Points:
    113
    And yet it happens.
     
  19. rahl

    rahl Well-Known Member

    Joined:
    May 31, 2010
    Messages:
    54,399
    Likes Received:
    5,118
    Trophy Points:
    113
    No it doesn’t. Math prevents it.
     
  20. AFM

    AFM Well-Known Member Past Donor

    Joined:
    Dec 15, 2014
    Messages:
    24,761
    Likes Received:
    4,278
    Trophy Points:
    113
    Economics does.
     
  21. ImNotOliver

    ImNotOliver Well-Known Member

    Joined:
    Mar 29, 2014
    Messages:
    8,938
    Likes Received:
    2,293
    Trophy Points:
    113
    The economy grows just about every day and always has. At any point in time one can say the economy is growing. If tax rates are cut today, the tax revenue will increase from tomorrow until next week, but it will be less than last week. Maybe in a few years the revenue will as much as last week, but in the meantime, in calculus terms, the space between the curves will never be made up.
     
  22. AFM

    AFM Well-Known Member Past Donor

    Joined:
    Dec 15, 2014
    Messages:
    24,761
    Likes Received:
    4,278
    Trophy Points:
    113
    You are making an incorrect assumption.
     
  23. ImNotOliver

    ImNotOliver Well-Known Member

    Joined:
    Mar 29, 2014
    Messages:
    8,938
    Likes Received:
    2,293
    Trophy Points:
    113
    I'm trying to explain to you why tax cuts do not increase revenues. The Republicans have been playing a shell game. Government revenue losses have been being made up with loans. That is why the deficit and debt grow every time Republicans cut taxes.
     
  24. nopartisanbull

    nopartisanbull Well-Known Member

    Joined:
    May 5, 2018
    Messages:
    1,258
    Likes Received:
    308
    Trophy Points:
    83
    Gender:
    Male
    My question was; "How come Bush's FY2003 - FY2007 Revenue growth rates were excessively higher than Trump's revenue growth rates?

    However, you have a severe ADHD, and that's the reason you didn't answer my question
     
    Last edited: May 11, 2019
  25. modernpaladin

    modernpaladin Well-Known Member

    Joined:
    Apr 23, 2017
    Messages:
    10,261
    Likes Received:
    5,970
    Trophy Points:
    113
    Gender:
    Male

Share This Page