Sally Vix wrote:
Trollminator wrote:
And the two village idiots here will soon come to the rescue. No doubt Sally will continue to claim he’s a zillionaire despite his own returns showing he’s broke.
It was not me claiming that he is a zillionaire it was Forbes magazine who had estimated his wealth at $3 billion. I was not around to read up on the story yesterday so just beginning to follow it but wasn't the gist of the story that he paid virtually nothing in taxes for many years? I bet his tax attorneys now are a bit nervous because there are going to be a number of very experienced tax professionals scrutinizing every aspect of these tax returns.
It maybe is worse than I thought ...Here are some important findings by the NYT concerning these tax returns:
Among the key findings of The Times’s investigation:
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Mr. Trump paid no federal income taxes in 11 of 18 years that The Times examined. In 2017, after he became president, his tax bill was only $750.
He has reduced his tax bill with questionable measures, including a $72.9 million tax refund that is the subject of an audit by the Internal Revenue Service.
Many of his signature businesses, including his golf courses, report losing large amounts of money — losses that have helped him to lower his taxes.
The financial pressure on him is increasing as hundreds of millions of dollars in loans he personally guaranteed are soon coming due.
Even while declaring losses, he has managed to enjoy a lavish lifestyle by taking tax deductions on what most people would consider personal expenses, including residences, aircraft and $70,000 in hairstyling for television.
Ivanka Trump, while working as an employee of the Trump Organization, appears to have received “consulting fees” that also helped reduce the family’s tax bill.
As president, he has received more money from foreign sources and U.S. interest groups than previously known. The records do not reveal any previously unreported connections to Russia.
It is important to remember that the returns are not an unvarnished look at Mr. Trump’s business activity. They are instead his own portrayal of his companies, compiled for the I.R.S. But they do offer the most detailed picture yet available.
Below is a deeper look at the takeaways. The main article based on the investigation contains much more information, as does a timeline of the president’s finances. Dean Baquet, the executive editor, has written a note explaining why The Times is publishing these findings.
https://dnyuz.com/2020/09/27/18-revelations-from-a-trove-of-trump-tax-records/