damn, makes the rate at which I’m bleeding money seem a papercut.
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Do you have a pseudonym? I don’t have a pseudonym.
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I guess it depends how much your mob affiliates are skimming from the take.
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Yes that’s right - from 1985-1995 I made more than a billion dollars more than Donald Trump … largely by doing actual work
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I think we will be learning more quite soon, as it is becoming more profitable to rat out on President Biff than it is to be a loyal henchman. The penalty for betraying a betrayer is minimal.
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Out of curiosity, I checked the F*x News website; if you scroll enough, this story is actually there, though the headline frames it as “NYT claims to have Turmp tax returns”, and the article is minimal. I get the impression that site is not aimed at big readers.
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Last night they attempted to spin losing a billion dollars as a sign of someone being a smart businessman
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I imagine this is going to sting. Thin-skinned and easily provoked as Trump is, nothing hurts him like attacking his claims to great wealth and business genius.
Now I’m even more looking forwards to the recent tax returns. I’m sure there’s plenty there to drive the Orange One into frustrated, impotent rage when it comes public.
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Venezuela hasn’t worked out yet, and North Korea might actually be too scary to start a war with, so we’re threatening Iran on a near daily basis…
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I wonder if you total up all the losses and imagine they were funneled to secret off-shore accounts, would that explain the sudden interest income?
I don’t know whether to think Trump was losing tons of money or whether to think filing taxes claiming losses was a con.
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He’s basically a parody of the narcissist’s prayer at this point: “You always wanted to show losses for tax purposes…Almost all real estate developers did — and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!” https://www.bbc.com/news/business-48201786
This was nothing out of the ordinary. Everybody was doing it. Plus it didn’t happen!
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I had a former boss who was told by one of his subordinates “you can’t hold water in a sieve”, and he replied “sure you can, you just have to pour it in fast and continuously.” That company, like the one before it and the one after it, all folded.
The fact that Donald Trump can have such huge losses and still remain afloat shows how unscrupulous and foolish he is, and how geared our tax system is to the wealthy.
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Not to mention the banking system…good luck getting a loan after one bankruptcy, never mind six.
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That’s probably one of the most infuriating aspects of this. Regular Joes are getting hammered by banks, debt collectors, high cost of living, poor wages (note I did not say high taxes).
BUT - this jackhole lives like like a king while owing way more and losing so much. Can’t wait till he or his family gets what they deserve - a proper audit. Too bad tax loopholes mean this day may never come.
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The financial experts at the Times seem to think that the losses are too big for the latter theory to make sense. The losses are too disproportionately high compared to his assets to be explained through creative accounting for tax purposes.
The crazy thing is that this was the period in which most people assumed Trump was at his peak, business-wise. It could well turn out that he never made money at anything he’s done since he inherited all that money from his pops.
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From the NYT article, it sounds like he bought the Taj Mahal when it was over $800 million in debt, and the effort of pulling it out of debt put all of his other casinos into debt as well. So it was just a money pit that put him into bankruptcy.
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Losses? or money laundering?
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Laundering tons of money is my guess.
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From the article:
By the way, there was clearly some kind of collusion between The New York Times and CNN which broke this story just moments ago the second the Times released it
They have a really weird love-hate relationship with the word “collusion,” don’t they?
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I’m guessing massive losses leading to money laundering as a way to keep his head above the water.
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