Donald Trump Says His Businesses Lost $1 Billion on Purpose

[babylonsister]

So this is legal??

Donald Trump Says His Businesses Lost $1 Billion on Purpose
By David Gilbert May 8, 2019


Donald Trump said Wednesday that his businesses purposely lost more than $1 billion over the course of a decade as a way of avoiding paying taxes and gaming the system.

“You always wanted to show losses for tax purposes....almost all real estate developers did — and often re-negotiate with banks, it was sport,” Trump tweeted.

The U.S. president was responding to a bombshell New York Times report published Tuesday evening that explained how Trump’s businesses lost $1.17 billion between 1985 and 1994.

The report, which was based on a review of printouts from Trump’s official Internal Revenue Service tax transcripts, said that in 1990 and 1991 alone, Trump lost more than $250 million, which appeared to be more than double what any other U.S. taxpayer lost that year. He lost so much money in his casino, hotel, and real estate businesses that he was able to avoid paying income taxes in eight of the 10 years covered by the transcripts.

But it was all on purpose, the president claimed Wednesday:

more...

https://news.vice.com/en_us/article/wjvj8x/donald-trump-says-his-businesses-lost-dollar1-billion-on-purpose?fbclid=IwAR2yPRzIF_zgZEba-3d9XMtg12__bwWrAeFseakKyIVf2QBCjgF7PYqN6-U

[rurallib]

1. he really ought to show us his taxes and prove it.

Shameful that the highest official in the country is a tax cheat. Even more shameful that he got more than two vote in 2016.
Shameful that he brags about screwing his country over while the infrastructure falls apart.

[forgotmylogin]

8. Also "You want to inflate your earning power when applying for loans. Everyone does it." (n/t)

[spanone]

2. If he's talking, he's lying.

[malaise]

3. The vile MAGAcretin is the king of Cons

- a vile despicable crook

[no_hypocrisy]

4. Pee Wee Herman Trump

"I meant to do that."

[TreasonousBastard]

5. He pulled this crap every time he went bankrupt, claiming it was a "business strategy".

[Liberal In Texas]

6. ...Yeah, I meant to lose that billion dollars, yeah, that's the ticket.

Last edited Thu May 9, 2019, 09:52 AM - Edit history (1)

(The present day Joe Isuzu)

[GoCubsGo]

7. If that was Obama, his flying monkeys would be rioting in the streets over it.

[LiberalFighter]

9. If the money was loaned by someone and they forgave his loan

Did he report it as income to the IRS? Doubt it.

[Blue Owl]

10. Just like he had to lose the popular vote to win the election

This guy...

And somehow, he gets away with it all...