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Wed May 15, 2019, 01:31 PM

Trump Companies Were in the Red; He's Reaped the Rewards Since

(Bloomberg) -- Real-estate developer Donald Trump in 1992 lived in a New York luxury apartment, traveled by limousine and had personal bodyguards. That year, he also reported a negative $750 million adjusted gross income to the IRS.

How the future president could live so large while reporting such huge losses has been a question since the New York Times revealed a decade of Trumpís tax information last week. While the president claims there were paper losses that could be chalked up to real-estate activities, four tax experts said that for the president to have claimed such a giant negative income, his businesses must have bled money for years.

Real-estate developers enjoy some of the best advantages in the tax code. But the magnitude of Trumpís losses canít be explained by that alone, the tax experts said.

To have achieved a billion dollars in losses, Trump would have had to lose actual money. And the fact that he continued to live in high style even after such failures means he would have had to either lose someone elseís money or get cash injections from another source.

íMassive Write-Offsí

Based on tax transcripts it obtained, the New York Times showed that Trump reported a negative adjusted-gross income for each of the years between 1985 and 1994 and that his core businesses lost about $1.17 billion over that period. Several Trump casinos and other properties declared bankruptcy in the early 1990s.

Charles Harder, a lawyer for Trump, did not respond to a request for comment.

https://www.msn.com/en-us/money/companies/trump-companies-were-in-the-red-he-s-reaped-the-rewards-since/ar-AABoelG

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Reply Trump Companies Were in the Red; He's Reaped the Rewards Since (Original post)
Yo_Mama_Been_Loggin May 2019 OP
tblue37 May 2019 #1
smirkymonkey May 2019 #2
malaise May 2019 #3
Dave Starsky May 2019 #4
CatMor May 2019 #5

Response to Yo_Mama_Been_Loggin (Original post)

Wed May 15, 2019, 01:36 PM

1. K&R for visibility. nt

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Response to Yo_Mama_Been_Loggin (Original post)

Wed May 15, 2019, 02:16 PM

2. Worst business man ever!

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Response to smirkymonkey (Reply #2)

Wed May 15, 2019, 02:18 PM

3. Could simply be worst human being

EFUCKINGVER

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Response to Yo_Mama_Been_Loggin (Original post)

Wed May 15, 2019, 02:33 PM

4. His brand is shit. No one will buy Trump-labelled crap ever again.

He'll have to stay in office until he dies, because he's ruined when he leaves.

No one will want to buy a Trump necktie any more than they would buy a set of Adolf Hitler golf clubs.

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Response to Yo_Mama_Been_Loggin (Original post)

Wed May 15, 2019, 02:36 PM

5. However he still managed to live in high style....

it was probably through illegal means.

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