I remember NYT getting Trump's taxes. He was given a lot of money from his dad that he lost, right?
His dad wasn't a billionaire.
Per Wikipedia:
Contradicting Donald Trump's claim that he built a multibillion-dollar company using "a small loan of a million dollars" from his father, in 2018 The New York Times reported that Fred and his wife, Mary Trump, provided over $1 billion (in 2018 currency) to their children overall, avoiding over $500 million in gift taxes. In 1992 Fred and Donald set up a subsidiary which was evidently used to funnel Fred's finances to his surviving children; shortly before his death, Fred transferred the ownership of most of his apartment buildings to his children, who several years later sold them for over 16 times their previously declared worth.
Kinda funny
This post was edited 7 minutes after it was posted.
Reason provided:
agip beat me to it!
I remember NYT getting Trump's taxes. He was given a lot of money from his dad that he lost, right?
Trump's dad gave him about $300 million which he parlayed into $3.5 BILLION. He is a business magnate the world had not seen. He owns real estate empires all over the world. The Art of the Deal, earlier alluded to by Ginamator, sold more than a million copies. Many consider it the greatest book on business ever.
Inheriting 300M and making 5% per year on it for 50 years = 3.5B. That is about half of the S&P average. Hardly what most would consider business genius.
Contradicting Donald Trump's claim that he built a multibillion-dollar company using "a small loan of a million dollars" from his father, in 2018 The New York Times reported that Fred and his wife, Mary Trump, provided over $1 billion (in 2018 currency) to their children overall, avoiding over $500 million in gift taxes. In 1992 Fred and Donald set up a subsidiary which was evidently used to funnel Fred's finances to his surviving children; shortly before his death, Fred transferred the ownership of most of his apartment buildings to his children, who several years later sold them for over 16 times their previously declared worth.
Kinda funny
Trump would be richer today if he had invested all the inheritance in S&P 500 and done nothing.
Think about it. He would have been better off by doing nothing. What a genius!
Contradicting Donald Trump's claim that he built a multibillion-dollar company using "a small loan of a million dollars" from his father, in 2018 The New York Times reported that Fred and his wife, Mary Trump, provided over $1 billion (in 2018 currency) to their children overall, avoiding over $500 million in gift taxes. In 1992 Fred and Donald set up a subsidiary which was evidently used to funnel Fred's finances to his surviving children; shortly before his death, Fred transferred the ownership of most of his apartment buildings to his children, who several years later sold them for over 16 times their previously declared worth.
Kinda funny
Trump would be richer today if he had invested all the inheritance in S&P 500 and done nothing.
Think about it. He would have been better off by doing nothing. What a genius!
The inflation started around a month after Joe took office. Meaning there was nothing Joe could or could not do to start or stop the inflation. The inflation was baked in the cake from COVID. Meaning under the Trump admin. Not the biden admin. This is elementary.
What we do know is that post-covid the US economy has definitely had the best growth and maybe the best inflation numbers among our big industrial peers.
And that is on Joe and his policies. Vote for that.
I wrote about this before and I will write about it again. There were two distinct spikes in inflation that occurred the first was from a bipartisan bill ($900 billion in stimulus plus $1.4 trillion in omnibus budget spending in Consolidated Appropriations Act of 2021) that passed in the lame duck period (Trump criticized the bill but did not veto it) that bumped inflation from about 1.5% to about 3.5%. Had we stopped there, we probably would have been fine, interest rates would not have jumped as much and the interest we pay on the debt would not have doubled. The second (and more avoidable / damaging spike, the one Obama’s economic advisor was discussing) was from the infamous $1.9 trillion American Rescue Plan (AKA the Blue State Bailout). This bill wasn’t even needed, rewarded states that enacted prolonged shutdowns, put identity politics ahead of economics and paid off special interests that helped get him elected. This passed with single party support. That provided the second spike and sent inflation up to levels not seen since the Carter Administration, has increased the interest we owe on the debt (which will erode our ability to provide basic government services going forward) and seriously inflated food prices due to a massive expansion in food stamps.
Other giveaways like student loan forgiveness tend to prolong the problem. The truth is we need fiscal responsibility to bring down interest rates and deficit spending rather than constant stimulus taken from future generations to provide excessively low unemployment numbers.
Trump's dad gave him about $300 million which he parlayed into $3.5 BILLION. He is a business magnate the world had not seen. He owns real estate empires all over the world. The Art of the Deal, earlier alluded to by Ginamator, sold more than a million copies. Many consider it the greatest book on business ever.
Inheriting 300M and making 5% per year on it for 50 years = 3.5B. That is about half of the S&P average. Hardly what most would consider business genius.
You are forgetting one very important thing. If he had invested all of that money in the S & P, once he cashed out he would owe about 41% (33% plus 11%) in capital gains. Plus, he received huge tax breaks owning properties.
Contradicting Donald Trump's claim that he built a multibillion-dollar company using "a small loan of a million dollars" from his father, in 2018 The New York Times reported that Fred and his wife, Mary Trump, provided over $1 billion (in 2018 currency) to their children overall, avoiding over $500 million in gift taxes. In 1992 Fred and Donald set up a subsidiary which was evidently used to funnel Fred's finances to his surviving children; shortly before his death, Fred transferred the ownership of most of his apartment buildings to his children, who several years later sold them for over 16 times their previously declared worth.
Kinda funny
Wikipedia is establishment propaganda.
Wikipedia co-founder Larry Sanger has warned that the website can no longer be trusted — insisting it is now just “propaganda” for the left-leaning “establishment.”
Inheriting 300M and making 5% per year on it for 50 years = 3.5B. That is about half of the S&P average. Hardly what most would consider business genius.
You are forgetting one very important thing. If he had invested all of that money in the S & P, once he cashed out he would owe about 41% (33% plus 11%) in capital gains. Plus, he received huge tax breaks owning properties.
Make that about 44%. You guys need to think about this stuff ... you just can't read about something and regurgitate.
Contradicting Donald Trump's claim that he built a multibillion-dollar company using "a small loan of a million dollars" from his father, in 2018 The New York Times reported that Fred and his wife, Mary Trump, provided over $1 billion (in 2018 currency) to their children overall, avoiding over $500 million in gift taxes. In 1992 Fred and Donald set up a subsidiary which was evidently used to funnel Fred's finances to his surviving children; shortly before his death, Fred transferred the ownership of most of his apartment buildings to his children, who several years later sold them for over 16 times their previously declared worth.
Kinda funny
Trump would be richer today if he had invested all the inheritance in S&P 500 and done nothing.
Think about it. He would have been better off by doing nothing. What a genius!
You are forgetting one very important thing. If he had invested all of that money in the S & P, once he cashed out he would owe about 41% (33% plus 11%) in capital gains. Plus, he received huge tax breaks owning properties.
Make that about 44%. You guys need to think about this stuff ... you just can't read about something and regurgitate.
Nah and nope. Really rich people don’t have to sell and realize gains. They just borrow cash against their shares and use that for spending money. then the kids inherit the shares with a stepped up basis and the family never pays capital gains taxes. Ever. so yeah trump would have been better off as a passive investor in America.
Make that about 44%. You guys need to think about this stuff ... you just can't read about something and regurgitate.
Nah and nope. Really rich people don’t have to sell and realize gains. They just borrow cash against their shares and use that for spending money. then the kids inherit the shares with a stepped up basis and the family never pays capital gains taxes. Ever. so yeah trump would have been better off as a passive investor in America.
The guy who wrote that article is a senior editor at Forbes and he wrote that article like he is a high school sophomore. He did not consider inflation and he did not consider dividends. I can't believe they allowed that to be published.
So you guys have to decide between a senile guy and a raving lunatic who is a threat to western democracy- see his comment about allowing and encouraging Russia to attack NATO members.
I cannot believe that even the most democratic hating, red neck or LRC poster (is there worse -LoL) voting for such a guy knowing the risk to USA and world.
Mayorkas impeached....will the senate finish him off?
No way does the Senate finish him off Not a single Dem would vote to convict him. It would legitimize his impeachment and would be a huge stain on the Biden presidency. Agip said before that the Biden adminis. has been scandal-free (not true) but the impeachment and conviction of Mayorkas would be a huge, huge stain on Biden and co.
Dems win another one - a special election in PA that will secure their control the Pa state house. lying betrayer Republicans lose again.
RESULT: Democrats secure a majority in Pennsylvania's state House. Dem Jim Prokopiak won the HD140 special election, the AP just called. This means Dems defend the vacant seat; the House will be 102-100 Democratic, with one vacancy (a Republican just resigned days ago).
Lying betraying Republicans won’t read this in their private radical ‘news’ sources.
NYT:
The number of people crossing illegally into the United States from Mexico has dropped by 50 percent in the past month, authorities said on Tuesday, as President Biden comes under growing pressure from both parties over security at the border.
Contradicting Donald Trump's claim that he built a multibillion-dollar company using "a small loan of a million dollars" from his father, in 2018 The New York Times reported that Fred and his wife, Mary Trump, provided over $1 billion (in 2018 currency) to their children overall, avoiding over $500 million in gift taxes. In 1992 Fred and Donald set up a subsidiary which was evidently used to funnel Fred's finances to his surviving children; shortly before his death, Fred transferred the ownership of most of his apartment buildings to his children, who several years later sold them for over 16 times their previously declared worth.
Kinda funny
Believing the NYT when it comes to anything Trump is a little silly.
Trump's dad gave him about $300 million which he parlayed into $3.5 BILLION. He is a business magnate the world had not seen. He owns real estate empires all over the world. The Art of the Deal, earlier alluded to by Ginamator, sold more than a million copies. Many consider it the greatest book on business ever.
Inheriting 300M and making 5% per year on it for 50 years = 3.5B. That is about half of the S&P average. Hardly what most would consider business genius.
Why do all of the poors think this $300 million was cash and why do they assume Trump didn't have any expenses?
If was was easy to become a billionaire as you people think there'd be a hell of a lot more of them.
