- The ability to shelter income through tax losses in real estate limited partnerships was severely curtailed, and it hurt people like Trump whose equity required the cheap financing pipeline to stay open. I think this was the middle of one of Trump's many bankruptcies.
1986 tax reform signed by Reagan was a compromise (like most of these "sausage" bills are) that further built on the 1981 general tax reductions and simplification — one of which was about getting rid of counterproductive and revenue-costly "tax shelters" that were used in a lot of shady and outright phony real-estate deals which existed only for purposes of tax "losses," on top of which many of them were also partly or entirely financed by other local, state and federal tax incentives. **
And no, that had nothing to do with Trump's many bankruptcies which destroyed about $5B in wealth of Other People's Money, while some hundreds of millions of these dollars ended up in Donald's pockets (yet he still grossly underperformed the average annual gains in real-estate and equity markets over time, though he did build the "Trump brand"). And Trump is still using phony "charity" loopholes (like "conservation" on his golf courses) through his Foundation, while bragging how "charitable" he is... **
** Ref : The son-in-law also rises: For Jared Kushner, championing Trump marks break with Democratic past - Kushner Cos. CEO was an active donor to liberal politicians in NJ, NY - FR, posts #75, #81, 2016 April 07
Ref : Fresh document trove sheds light on Clinton-Trump ties - FR, post #56, 2016 April 12
** Ref : Who will buy New York's Plaza Hotel? Chinese or Arabs (What Donald Trump's Plaza Deal Reveals About His White House Bid) - FR / NYT / TSC / DR, posts #1, #2, #9, 2016 March 31
** Ref : Here's what Trump gets wrong - FR / CNBC, posts #2, #49, #54, 2016 March 16
Ref : Is the Media Protecting Donald Trump? - FR / FBN / TCP, posts #1, #96, 2016 March 09
** Ref : Reports question Trump's giving to veterans groups - FR / FN, posts #1, #115, #122, #124, 2016 January 29
** Ref : In Ego, Obama and Trump Are Two Of A Kind - FR, post #275, 2015 October 25
The [often irrelevant non-tangential single-factor] ridiculous comparisons of ideals, character and motives of Trump to Reagan — as a way to win or blunt the opposite argument — are so inapplicable, superficial and phony that they shouldn't belong on FR (though, unlike Trump and his supporters, I wouldn't advocate banning them) :
"Great minds talk about ideas. Average minds talk about events. Small minds talk about people. And the smallest of minds talk about themselves"
I think everyone can clearly see which part belongs to Ronald Reagan and which parts belong to Donald Trump.