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Mon Dec 26, 2016, 11:51 AM

 

Interesting take on Trump's financial entaglements and tax breaks

Trumpnado ‏@Trumpnado2016 Dec 13
1/ The Trump Org is NOT a corporation.
It is a mess of personally owned LLC's on Donald's personal income tax return.
@Newsweek



2/ Because of the way Trump set up his biz, to personally benefit from tax losses, he CAN NOT disentangle personally.
@kurteichenwald


3/ Trump's massive tax loss carry-forward was on his personal tax return, thus all income must ...
@kurteichenwald


4/ ... must remain as personal income for Donald to be able to take advantage of this massive tax break.
@kurteichenwald @nytimes

5/ so even if Donald wanted to, Trump can not afford to disentangle as personal owner of 500+ personal LLC's.

6/ NO ONE has been asking why he would have 500+ sole proprietorships/partnerships.
It is the only way he can use these massive tax breaks.


7/ There are huge advantages of efficiency & capital to operate as a large real corporation, so Donald made this decision for this purpose.

8/ after decades of running his biz as 500+ LLC's, it would be financially impossible to untangle. Taking many years, if even possible.

9/ Trump CAN NOT untangle from personally benefiting from every deal made by Trump Org entities. He owns each one personally.

10/ most of these LLC's carry large debt from different banks, tied to that asset. Most have more debt than the asset is worth.


11/ with such massive debt, there is really no way to untangle this LLC mess of companies from Donald personally.

12/ further even if bankers allowed him to sell these biz's, he could not afford the massive tax payments that would result.

13/ selling these personal assets, even if saddled with massive debt would incur huge tax payments for Trump. He simply can't afford it.

14/ Trump also has massive annual expenses.
Over $20 mil just for the Trump Tower retail condo. He must generate massive cash flow.


15/ And Wells Fargo owns the mortgage on Trump Tower retail condo, so yet another conflict of interest.


16/ Trump claims ownership of the Nike Store,
but yet another lie, he only owns a land lease of questionable value.

Block 1292 Lots 8,64,66

17/ NONE of the LLC's that own Nike Store are on Trump's FEC form. He rents the land from others.


18/ if you combine debt Trump has on Nike Store & 3 Trump Tower condos he owns, he's underwater, by a lot!
Trump DOES NOT own Trump Tower


19/ Trump DOES NOT own 40 Wall St.
He owns a land lease that is worth less than the debt he has on the property.


20/ When a land leases expires, all buildings/improvements on the property revert to property owner.

21/ Christian Hinneberg et al & other German partners OWN 40 Wall St. Trump just rents it from them.

22/ Trump has to get permission from the owner, Christian Hinneberg, to turn on the water at 40 Wall St.


23/ over 400 Trump LLC's are registered under highly secretive Delaware Corp laws.
We have no idea who his partners are,
or what debt


24/ Trump has set up a highly unusual labyrinth of secretive DE LLC's. There is no way he can, or will, disentangle his personal ownership.

25/ Trump requires a huge influx of new cash deals to service his massive existing expenses & debts, must make new deals or risk bankruptcy.

26/ No business journal has done a comprehensive estimate of Trump income/balance sheet/profit loss.
It can be done, but has not.


27/ Hotels & golf courses are notorious for marginal profits or losses, yet Trump is claiming massive unrealistic income from these biz's.

28/ Trump is lying
Trump biz's historically ALWAYS lose money.
He profits from govt zoning gifts & condo deals we know are mostly dark money


29/ Trump could not run a golf course or hotel at a profit, simply impossible based on his horrible management record.

23/ Equitable Life Insurance of the USA developed Trump Tower & owned the land.
Trump profited by bringing govt zoning gifts & ...


24/ ... being the front man for Equitable to partner with the mob, get ridiculous tax breaks & destroy a historic fašade of Bonwitt Teller.

https://twitter.com/Trumpnado2016/status/808666847491006469



1/ Don't believe anything Trump tells you about retail rent. He had to give sweetheart rent deals to attract ...
@StudioFtB @kurteichenwald

(((STOP))) Trumpnado ‏@Trumpnado2016 Dec 13
2/ retail renters & when Trump was on the verge of bankruptcy I'd be too easy for Gucci & Nike to bargain rent WAY down.

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Reply Interesting take on Trump's financial entaglements and tax breaks (Original post)
Madam45for2923 Dec 2016 OP
DURHAM D Dec 2016 #1
Madam45for2923 Dec 2016 #3
demigoddess Dec 2016 #11
Madam45for2923 Dec 2016 #12
Hortensis Dec 2016 #8
shraby Dec 2016 #2
Madam45for2923 Dec 2016 #4
Cracklin Charlie Dec 2016 #7
mopinko Dec 2016 #5
Cracklin Charlie Dec 2016 #6
Madam45for2923 Dec 2016 #17
TeddyBear 1 Dec 2016 #9
PoindexterOglethorpe Dec 2016 #10
rurallib Dec 2016 #13
LiberalLovinLug Dec 2016 #14
malaise Dec 2016 #15
Achilleaze Dec 2016 #16
Madam45for2923 Dec 2016 #18

Response to Madam45for2923 (Original post)

Mon Dec 26, 2016, 12:00 PM

1. iows - Trump is subject to immediate impeachment

and we get Pence





which is in some ways worse

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Response to DURHAM D (Reply #1)

Mon Dec 26, 2016, 12:06 PM

3. No, Trump at the helm with the nuclear codes is worse imo.

 

Last edited Mon Dec 26, 2016, 02:19 PM - Edit history (1)

Greg Sargent ✔ @ThePlumLineGS

Could Trump help unleash nuclear catastrophe with a single Tweet?


Yes, arms control experts tell me:http://wapo.st/2hr2pp4

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Response to Madam45for2923 (Reply #3)

Mon Dec 26, 2016, 02:18 PM

11. No(comma) Trump at the helm with the nuclear codes is worse imo.

commas have a real purpose. You need the tee shirt that says

Lets eat Grandma
Lets eat, Grandma
commas are important

it is the difference between having to read your line once or three times to get the meaning.

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Response to demigoddess (Reply #11)

Mon Dec 26, 2016, 02:19 PM

12. Alright! I edited!

 

Haha! self-conscious now.

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Response to DURHAM D (Reply #1)

Mon Dec 26, 2016, 01:44 PM

8. Trump's opened the door to Christian reconstructionists.

Already. Wide. I used to wonder if Pence would be more dangerous, but he's there anyway, one of many Trump's brought in who are eager for religious takeover.

But, cyber or WMD (is cyber considered a WMD?) war could destroy us before we can get this current wave of religious and anti-liberalism hate calmed down and/or defeated as necessary. Any strikes that broke down our systems could turn a nation of 330 M people entirely dependent on delivery of water, food, power into the world's largest death camp.

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Response to Madam45for2923 (Original post)

Mon Dec 26, 2016, 12:04 PM

2. Kinda looks like he's one big ponzi scheme, bringing in new to keep the

old afloat.

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Response to shraby (Reply #2)

Mon Dec 26, 2016, 12:08 PM

4. It explains why his kiddos are crazy-like focused on getting money since Nov 8 results

 

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Response to shraby (Reply #2)

Mon Dec 26, 2016, 01:13 PM

7. Sorry.

Just remarked below that my husband said the exact same thing.

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Response to Madam45for2923 (Original post)

Mon Dec 26, 2016, 01:10 PM

5. the retail at the chi tower is empty.

still.
he went to the old boys network here to get his taxes lowered, insisting that the reason they couldnt rent it had something to do w the shape of the units and the sightlines.
got a big gift.

as long as his name is on that building, they wont be rented.

i wish i knew the details on that building. he likely doesnt even own it, either. so we have hope.

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Response to Madam45for2923 (Original post)

Mon Dec 26, 2016, 01:12 PM

6. I just read some of this to my husband...

He says it sounds like Trump is running a one man Ponzi scheme.

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Response to Cracklin Charlie (Reply #6)

Mon Dec 26, 2016, 06:51 PM

17. Probably part of reason he had to hide his taxes from us.

 

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Response to Madam45for2923 (Original post)

Mon Dec 26, 2016, 01:45 PM

9. all I can say is...

WOW!

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Response to Madam45for2923 (Original post)

Mon Dec 26, 2016, 01:47 PM

10. What's even scarier is that

Trump honestly thinks he's a great business man. The greatest!

He thinks he can run the country the way he runs his businesses. So what if some of his businesses need to declare bankruptcy? Get out from under that debt! Smart move! (That's what he would think.)

He probably thinks there's no reason why the country can't either be run at a profit, or structured so as to take advantage of tax deductions.

Worse yet, a lot of people out there are under the impression it would be a good idea to run this country like a business.

We are in deep doo-doo.

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Response to Madam45for2923 (Original post)

Mon Dec 26, 2016, 02:44 PM

13. I may be wrong, but I doubt Donald Schmuck himself really understands his situation

more likely I would say there is a team of lawyers and accountants who have been working to set up barely legalized methods to dodge bullets for decades. What Trump ends up with is his name on a mess of a legalized corporate entity.

Something tells me that there are a few people who really know how his scheming works and who could possibly bring him down if pissed off.

Just an opinion.

If I was in his situation, I doubt I could sleep either waiting for it all to crumble.

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Response to Madam45for2923 (Original post)

Mon Dec 26, 2016, 02:54 PM

14. So how can drive the stake in?

We have to find all those places and businesses and boycott boycott boycott! I'd like to watch him leave office in 4 years poorer than he is today.

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Response to Madam45for2923 (Original post)

Mon Dec 26, 2016, 04:50 PM

15. Groper Don the Con is the Con

of this century

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Response to Madam45for2923 (Original post)

Mon Dec 26, 2016, 04:55 PM

16. Wow. The Republican 'family values' corruption of Comrade Casino (R) is gross beyond imagination

What are the Republicans doing to America, putting suck an unqualified scam artiste up as their "values" role model, and draft-dodging "commander-in-chief."

Republicans have gravely sinned against all that is true and good,
and so shall in time reap just deserts, so to speak.

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Response to Madam45for2923 (Original post)

Tue Dec 27, 2016, 11:23 AM

18. Kicking!

 

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