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politicat

(9,810 posts)

156. Even 38M on 150M in income is barely in the assets billionaire category.

Tue Mar 14, 2017, 10:29 PM

Mar 2017

Definitely not in the income billionaire category.

If that's a good year, then he's not nearly as rich as he brands himself. (Though 2005 wasn't a great year - market was janky, lost about 200 points between 1/1/2005 and 12/31/2005. Real estate was flaky. That was a mini-recession year.)

If he's typical of most developers, he's leveraged to his hairline (the real one or the toupee one, doesn't matter) and has at least as much debt as assets. Often more. Income in real estate development is a result of churn, and it never sticks around for long. We don't have his debt statements.

We can't forget that around $42M of that income was "work" income -- $3M an episode for 14 episodes. That wasn't business/investment income. It was from the sideshow.

I think the takeaway may be -- he's not as rich as he says he is. Not if that's a good year.

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Highlight:

Official Rachel Maddow Show Watch Party thread! [View all] bettyellen Mar 2017 OP

Anything new other than Benedict Donald is a traitor? uponit7771 Mar 2017 #1

Says she has Drumpf's tax returns. nt JTFrog Mar 2017 #3

All of them.... With schedules?!?! uponit7771 Mar 2017 #5

No details.... JTFrog Mar 2017 #6

Got it!! uponit7771 Mar 2017 #7

They're his 2005 and he reported 150 million income bettyellen Mar 2017 #18

We don't know except that she says it's true - seriously! We will find out in 30 min... bettyellen Mar 2017 #8

2005 only bettyellen Mar 2017 #19

She is first presenting her entire tax-related case against Trump. kstewart33 Mar 2017 #73

Please let there be something there. JTFrog Mar 2017 #2

I am hoping it cracks the issue WIDE open so people insist on seeing all of them.... bettyellen Mar 2017 #11

I really hate even getting my hopes up at this point, but..... LenaBaby61 Mar 2017 #13

Official Rachel Maddow Show Watch Party thread! LenaBaby61 Mar 2017 #4

Meh. demmiblue Mar 2017 #9

Maddow deserves more than a "meh". Her reporting has been exemplary as of late. bettyellen Mar 2017 #14

HEAR, HEAR!! ailsagirl Mar 2017 #151

Take down that traitorous bastard Rachel! Fearless Mar 2017 #10

I may get some popcorn shenmue Mar 2017 #12

I'm making a whiskey on the rocks. bettyellen Mar 2017 #22

If it's just the 1040 Loki Liesmith Mar 2017 #15

It is the 1040 from 2005, reportedly scheming daemons Mar 2017 #16

That's about when foreign money Loki Liesmith Mar 2017 #17

I hope- I thought it could be later.... bettyellen Mar 2017 #20

That's when the real estate market was the hottest..the Ruskies started bailing out Trump Kaotic Mar 2017 #122

Kick for Amaryllis and all those who cannot watch at home- let's quote for them! bettyellen Mar 2017 #21

THANK YOU bettyellen! Amaryllis Mar 2017 #26

I'm so excited theglammistress Mar 2017 #23

Bummer they are not recent but welcome any press attention they do get! bettyellen Mar 2017 #24

Trump probably leaked the two best pages for the one year he actually paid something. L. Coyote Mar 2017 #25

+1, possible ... Benedict Donald is grimy bastard uponit7771 Mar 2017 #38

Even 38M on 150M in income is barely in the assets billionaire category. politicat Mar 2017 #156

Report obtained by David Cay Johnston from DC report bettyellen Mar 2017 #27

David Cay Johnston bdamomma Mar 2017 #37

Ohhhh. Tks for correction- he will be joining Rachel to discuss the forms in depth.... bettyellen Mar 2017 #40

How long until we get a defensive Drumpf tweet? True Dough Mar 2017 #28

Hope this is not a trap, these could be released by Benedict Donald himself !! uponit7771 Mar 2017 #29

Rachel seems nervous itsrobert Mar 2017 #30

Is she reporting something to get emotional about? Amaryllis Mar 2017 #33

She said her and the guy who passed them to her will be going into detail... bettyellen Mar 2017 #39

They must have schedules, otherwise the simple 1040 tells us little... they must have schedules uponit7771 Mar 2017 #34

It seems to be nervous excitement PatSeg Mar 2017 #60

exactly itsrobert Mar 2017 #63

I have some red wine next to me. chillfactor Mar 2017 #31

Whiskey and water on the rocks here. bettyellen Mar 2017 #36

WOW NIXON WAS A CROOKED FUCK !!! Damn even had to pay 500,000 for fraud deductions!!! uponit7771 Mar 2017 #32

Significant that this is only 1040 and it's coming now...comping to Nixon who also hid his taxes and bettyellen Mar 2017 #35

watching MFM008 Mar 2017 #41

She is using this as an opportunity to explain why more current returns matter so very much!! bettyellen Mar 2017 #43

Live stream here: Amaryllis Mar 2017 #42

Oh wow! Open two windows and watch w us! bettyellen Mar 2017 #44

I did! HAve to leave at 6:30 unfortunately but will check out this thread for details of Amaryllis Mar 2017 #49

There's also a downloadable podcast that should be available at 8pm PST bettyellen Mar 2017 #57

Thanks, Amaryllis! JudyM Mar 2017 #54

Long overture. Baitball Blogger Mar 2017 #45

I'm guessing she's using the hype to educate new comers, which is good... bettyellen Mar 2017 #50

It's actually just the format of the show BannonsLiver Mar 2017 #84

This is smart, she's got an audience tonight might as well go through the good stuff uponit7771 Mar 2017 #66

She's explaining the probable Russian money laundering .... bettyellen Mar 2017 #46

We should have known she's been weaving something with all those oligarch stories. nolabear Mar 2017 #47

Now I think her first tweet was brilliant stillsoleft Mar 2017 #59

She is connecting the dots.. WiffenPoof Mar 2017 #48

She is brilliant at setting the stage for maximum impact. Amaryllis Mar 2017 #52

From your keyboard... WiffenPoof Mar 2017 #58

Russia is wrapped bdamomma Mar 2017 #51

I think this will be a nice little package about financial ties to Russia Greywing Mar 2017 #53

I made a homemade lemon meringue pie this afternoon. Cooled now and enjoying my riversedge Mar 2017 #55

Hmmmmmmmmmmm malaise Mar 2017 #67

I only make it a few times a year-maybe 3. It is a treat. Have a nice evening. riversedge Mar 2017 #79

Haven't made it in years malaise Mar 2017 #83

We were suspose to get a few buckets of smelt for tonight so I bought some lemons but then riversedge Mar 2017 #127

Nothing like fresh lemons malaise Mar 2017 #131

hmmm..... bdamomma Mar 2017 #116

Is she scripted.... WiffenPoof Mar 2017 #56

Right now she's summarizing Benedict Donald's nasty news... SMART, she's got an audience tonight uponit7771 Mar 2017 #62

She doesn't sound like she's winging it. Baitball Blogger Mar 2017 #64

I think scripted but beautifully done. nolabear Mar 2017 #65

often wondered that myself. She is brilliant enough to do it iwth just bullet points, no teleprompt, Amaryllis Mar 2017 #68

Help yourself malaise Mar 2017 #61

Yummy!thank you!! bettyellen Mar 2017 #88

Tax Return is for 2005. Baitball Blogger Mar 2017 #69

You KNOW Trump is watching this... WiffenPoof Mar 2017 #70

Tweet follow up or will it be like after O wiretapping where he goes silent? Amaryllis Mar 2017 #71

He preemptively released the income declared and said it was "illegal" for her to release them... bettyellen Mar 2017 #78

So is Bannon, I'm sure..nt monmouth4 Mar 2017 #72

So are the Russians True Dough Mar 2017 #80

:D C Moon Mar 2017 #161

It is possible he leaked this himself. Equinox Moon Mar 2017 #125

He might be beholden to Russia, bottom line. Keep babylonsister Mar 2017 #74

That's the drum Maddow is beating.... bettyellen Mar 2017 #85

I know, I'm watching! babylonsister Mar 2017 #90

Is he "financially beholden". We can't know without getting these tax returns... bettyellen Mar 2017 #75

This is an 11 yr old pre-financial crisis tax return...not optimistic there will be anything Kaotic Mar 2017 #76

This is a YUGE NOTHINGBURGER! Kaotic Mar 2017 #102

Exactly what Fox news said the next morning. And by multiple 'news' people there. Kingofalldems Mar 2017 #165

Daily Beast report on what taxes reveal: Amaryllis Mar 2017 #77

Which is basically nothing oberliner Mar 2017 #86

This is one of the rare times... WiffenPoof Mar 2017 #81

oh WOW!!!!!!!!!!!!!!! bdamomma Mar 2017 #82

Yes shenmue Mar 2017 #89

CRAP !!! NO SCHEDULES !!! CRAP !!! The schedules are the details of the right offs !! uponit7771 Mar 2017 #87

Bummer- can they extrapolate what could be on the schedule? bettyellen Mar 2017 #92

Nope, the 1040s are basically summary pages... oh well uponit7771 Mar 2017 #95

dailybeast D_Master81 Mar 2017 #91

The reporter who got the return will be coming up. riversedge Mar 2017 #93

Who could be giving this up and might they have more? bettyellen Mar 2017 #99

Well, we have a few crumbs on the tax trail. Guess we just have to stay tuned for now unless riversedge Mar 2017 #119

Turned up in David Cay Johnston's mail box. elleng Mar 2017 #94

... and its only the summary pages which don't mean shit since the details of rights are on schedule uponit7771 Mar 2017 #97

I had and have a feeling this will be nothing... pangaia Mar 2017 #96

It is a big nothing oberliner Mar 2017 #101

Damn.... This better not fizzle out....NT WiffenPoof Mar 2017 #98

Only 2 pages--not the schedules or other required pages that would be included in the 2005 riversedge Mar 2017 #100

Big zero oberliner Mar 2017 #103

We do not have the sourse of his income. drats. riversedge Mar 2017 #111

Speculation that Donald could have leaked these himself, has leaked before.... bettyellen Mar 2017 #104

I absolutely believe Trump leaked this himself... Kaotic Mar 2017 #120

David Cay Johnston saying possible that Donald leaked his own 2 page return. riversedge Mar 2017 #105

Probably, likely certainly..this return makes Trump look good actually. Kaotic Mar 2017 #123

Welcome to DU, Kaotic! calimary Mar 2017 #149

Merry Fitzmas JenniferJuniper Mar 2017 #106

Welcome back to DU, JJ! bettyellen Mar 2017 #109

Alternative Minimum tax is the only reason he paid a lot less tax..... bettyellen Mar 2017 #107

You mean more. His FIT was $5.4m, AMT was $31m. ffr Mar 2017 #139

meh Takket Mar 2017 #108

I'm underwhelmed. no_hypocrisy Mar 2017 #115

Trump leaked this return...NO DOUBT ABOUT IT Kaotic Mar 2017 #110

And she fell for it... pangaia Mar 2017 #113

She's used it as an opportunity to educate new viewers, so that's good. bettyellen Mar 2017 #118

No, not really. It gets him sympathy TimeToGo Mar 2017 #124

exactly..she's being used. Kaotic Mar 2017 #126

Anyone who discusses the taxes is doing it in the context of "what is he hiding" and that's good! bettyellen Mar 2017 #128

Only those of us who already think that TimeToGo Mar 2017 #133

She spent the entire show explaining why it's crucial to the Russian investigation.... bettyellen Mar 2017 #137

Yes, that's fine TimeToGo Mar 2017 #148

She gave a run down of the Russian connections as context for the details we need to confirm or bettyellen Mar 2017 #140

That would be fine except it was hyped. Glad she reported it, Lucky Luciano Mar 2017 #136

HA - then it worked! bettyellen Mar 2017 #138

It worked to get me to turn on the tv, but I don't Lucky Luciano Mar 2017 #146

She spent the whole hour basically trying to drum up bigger interest and explain bettyellen Mar 2017 #150

I assume that you would rather it not be leaked unless it was worthwhile HoneyBadger Mar 2017 #144

CNN.com is reporting WH released the tax records. JenniferJuniper Mar 2017 #112

No, just confirmed the info DeminPennswoods Mar 2017 #129

"WH releases some tax details" JenniferJuniper Mar 2017 #132

MSNBC sent the 1040s to WH for confirmation DeminPennswoods Mar 2017 #141

I understand that. Point is CNN is helping the WH out here. JenniferJuniper Mar 2017 #147

DT peeps involved with "State sponsored network of international criminals" bettyellen Mar 2017 #114

Well, it's not nothing, but it ain't much... Adrahil Mar 2017 #117

Yup SHRED Mar 2017 #121

yep, bet tRump leaked them elmac Mar 2017 #130

We think a lot alike! ffr Mar 2017 #134

A couple points to make DeminPennswoods Mar 2017 #135

Excellent points, and I thought it was a good primer for those newer... bettyellen Mar 2017 #143

Why does she have a lot of new viewers tonight? moonscape Mar 2017 #160

Why this show was important. Tatiana Mar 2017 #142

unless Trump leaked it, which is the most likely explanation grantcart Mar 2017 #145

Yep TimeToGo Mar 2017 #152

I like your take! Madam45for2923 Mar 2017 #154

My conspiracy theory is that the return was tweaked HoneyBadger Mar 2017 #153

"It is illegal to publish actual returns." TimeToGo Mar 2017 #155

Newsweek last year HoneyBadger Mar 2017 #157

No. Rachel addressed this. It is NOT illegal to publish the returns if they were unsolicited. mnhtnbb Mar 2017 #158

And mine is that this is a giant set-up by T and moonscape Mar 2017 #162

I'm feelin' the hysterical/historical moment! But the larger American concern: divided loyalty. ancianita Mar 2017 #159

Disappointing.... Bayard Mar 2017 #163

We have been played for ratings..... deaniac21 Mar 2017 #164