Trump’s taxes revealed

[swansont]

https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html

Quote

 

Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.

He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.

 

...

 

public filings offer a distorted picture of his financial state, since they simply report revenue, not profit. In 2018, for example, Mr. Trump announced in his disclosure that he had made at least $434.9 million. The tax records deliver a very different portrait of his bottom line: $47.4 million in losses.

 

 

 

[MigL]

Only 4 years late...

No wonder everyone in his family ( including little kids ) is on the Government payroll; the 'poor' guy hasn't made any money in the last dozen years.
Americans should take up a collection or start a GoFund for him  .

[StringJunky]

Phew, that was a long read.... for me.  He's got a lot to hide, it seems.

[Ten oz]

It will be interesting to see what Trump owes in State taxes and how the disclosures potentially leave Trump vulnerable to fraud charges. Trump has a history of lying about his assets to secure loans and investors. While it is unlikely Florida would go after Trump for tax evasion New York absolutely will and many of the interested parties (Banks, Contractors, Investors, etc) are spread across a couple other localities which would be likely to go after Trump as well like DC, NJ, and NV.

Michael Cohen who worked as Trump's personal lawyer recently said the following about Trump's taxes: "biggest fear is that if his tax return is released, that there’s a whole slew of organizations of accountants and forensic accountants that will rip through it and he will end up with a massive tax bill, fraud penalties, fines and possibly even tax fraud.” HERE

A federal pardon would not save Trump from State charges. If Trump broke the law in NY, NJ, or etc and those states go after Trump there is nothing the DOJ, Congress, or White House can do to interfere.

[J.C.MacSwell]

See...if Yang's UBI had been in place it would at least have allowed Trump to put some modest food on the table...

[iNow]

2 hours ago, MigL said:

No wonder everyone in his family ( including little kids ) is on the Government payroll; the 'poor' guy hasn't made any money in the last dozen years.

He actually called them “consultants” so he could shovel money their way and write it off. 

His cult will just cheer him for outsmarting the system tho. Be damned that they’re the ones he’s been ripping off. 

[Arete]

Seems like the accessory to have in our small red rural town is a giant "Trump 2020: No more bullshit" flag. I can't help but think "You know he's the incumbent, right?" I suspect it's too late for this to move the needle, unfortunately. 

[iNow]

I’ll drink to that... Cult 45

[Arete]

34 minutes ago, iNow said:

I’ll drink to that... Cult 45

I was actually drinking with a cognitive science professor friend of mine tonight who explained it like this: "They can't articulate it but what they mean by "bullshit"  is the democratic process - having to explain and argue your position to ideological opponent. The "bullshit" is a lack of authoritarianism. If they can simply dictate a worldview - "shut up snowflake this is how it is" into law and policy the Trump base has achieved its goals. 

While I think the choice between sexually harassing, mentally declining grandpas is unpalatable, especially given the field of dynamic and inspiring presidential contenders, I do think  it is coming down to a choice between authoritarian populism and democracy, and I am genuinely scared at the proportion of US citizens who want an authoritarian leader, and don't understand what the actual implications of that are. 

Edited September 28, 2020 by Arete

[iNow]

7 hours ago, Arete said:

it is coming down to a choice between authoritarian populism and democracy,

Even more simply, the biggest political wedge these days (whether it be on covid and mask wearing, healthcare for others, programs to feed kids in poverty, addressing climate change, etc.) is not left versus right or authoritarian versus democratic, but is instead "what's best for ME" versus "what's best for US." It's the selfish versus the community focused...

All that said, this rapid march to authoritarianism and fascism is disturbing. It's being amplified by state actors and platform algorithms, and the Jews of 1930s Germany have been replaced by "the left" and the "the libs" as monolithic scapegoats in modern day discourse. 

Now... as for his taxes (or lack thereof)...

[Area54]

8 hours ago, Arete said:

I do think  it is coming down to a choice between authoritarian populism and democracy, and I am genuinely scared at the proportion of US citizens who want an authoritarian leader, and don't understand what the actual implications of that are. 

A decade or so ago I was discussing with Russian friends the growing dictatorial tendencies of Putin. They observed that "Most Russians are not ready for a true democracy. We still need a strong man who will tell us what to think." I just didn't expect this to become true in America, but I fear it has and I now expect (regardless of current polls) that Trump will be re-elected.

[dimreepr]

In a society that limits a proper education to the elite, it's much easier to engender fear; what better smokescreen to hide behind in plain sight?

No one cares what taxes he pays, it makes no difference; the deck is stacked and the winner is just a matter of time...

 

[swansont]

I have read an observation that what Trump reported to the IRS (losing money) may be markedly different than what he reported to banks (business is great, lots of assets) in order to get loans. If so, he could be in big trouble for fraud.

[StringJunky]

10 minutes ago, swansont said:

I have read an observation that what Trump reported to the IRS (losing money) may be markedly different than what he reported to banks (business is great, lots of assets) in order to get loans. If so, he could be in big trouble for fraud.

I think this is probably how he'll get caught out.... singing different tunes to different people and those people getting together to compare notes.

Edited September 28, 2020 by StringJunky

[dimreepr]

10 minutes ago, StringJunky said:

I think this is probably how he'll get caught out.... singing different tunes to different people and those people getting together to compare notes.

No-one expects the Spanish inquisition's... 😣

Edited September 28, 2020 by dimreepr

[swansont]

23 minutes ago, StringJunky said:

I think this is probably how he'll get caught out.... singing different tunes to different people and those people getting together to compare notes.

It's possible there are state-level sealed indictments, and folks are waiting until the moment he isn't president anymore, so they can arrest him.

[CharonY]

1 hour ago, swansont said:

I have read an observation that what Trump reported to the IRS (losing money) may be markedly different than what he reported to banks (business is great, lots of assets) in order to get loans. If so, he could be in big trouble for fraud.

On a related note, the fact that he is several hundred millions in debt coming due, which would be a security risk if it was anyone else. 

[John Cuthber]

3 hours ago, iNow said:

Even more simply, the biggest political wedge these days (whether it be on covid and mask wearing, healthcare for others, programs to feed kids in poverty, addressing climate change, etc.) is not left versus right or authoritarian versus democratic, but is instead "what's best for ME" versus "what's best for US." It's the selfish versus the community focused...

Except what's best for us is usually what's best for me.
I do best when others around me are doing OK.

The USA choice is "what's best for everyone?" or "what's best for a tiny elite?"

[iNow]

I considered that point, too. Sadly, millions of people don't realize they're part of the population "us."

[swansont]

54 minutes ago, CharonY said:

On a related note, the fact that he is several hundred millions in debt coming due, which would be a security risk if it was anyone else. 

Or just that it's a huge security risk, full stop.

[CharonY]

5 minutes ago, swansont said:

Or just that it's a huge security risk, full stop.

Oh, of course. But if you got enough power, apparently you can determine reality.

[StringJunky]

3 hours ago, CharonY said:

On a related note, the fact that he is several hundred millions in debt coming due, which would be a security risk if it was anyone else. 

Pelosi's brought that up.

Quote

The top-ranked Democrat in Washington has called President Donald Trump's alleged tax avoidance a question of "national security".

Nancy Pelosi, Speaker of the House of Representatives, questioned whether Mr Trump owed money to foreign interests, following a disclosure of his financial records by the New York Times.

Among the revelations is that Mr Trump paid $750 (£580) in federal income tax in 2016 and 2017.

Mr Trump called the report "fake news".

Speaking on NBC, Ms Pelosi said the report showed that "this president appears to have over $400m in debt".

"To whom? Different countries? What is the leverage they have?" she asked, adding: "So for me, this is a national security question."

https://www.bbc.co.uk/news/business-54332956

Is this a leak by IRS personnel, do you think?

Edited September 28, 2020 by StringJunky