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How a $300 tax deduction proves Donald Trump makes less than half a million dollars
Crain's ^ | 03/08/2016 | Aaron Elstein

Posted on 03/08/2016 11:54:52 AM PST by GIdget2004

click here to read article


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To: Kenton

What company provides a 737 to a low level management employee only making 500K a year.


41 posted on 03/08/2016 12:24:08 PM PST by The_Republic_Of_Maine (politicians beware)
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To: GIdget2004

I don’t care if Trump makes 2 cents a year. That has ZERO to do with his net worth and ZERO to do with ISIS infiltrating the USA via Mexico.


42 posted on 03/08/2016 12:24:42 PM PST by austinaero
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To: bigbob

“it keeps the low information types entertained”

You mean Trump’s base? The ‘lowly educated’?


43 posted on 03/08/2016 12:25:22 PM PST by Beagle8U
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To: dynoman

of couse what djt does not often say is that he does not own a great number of the things he “seems” to own

as to his actual wealth..

“Now, Mr. Trump, have you always been completely truthful in your public statements about your net worth of properties?” my lawyer asked during the deposition.

“I try,” said Donald.

“Have you ever not been truthful?”

“My net worth fluctuates, and it goes up and down with markets and with attitudes and with feelings, even my own feelings, but I try.”

“Let me just understand that a little bit,” my lawyer said. “Let’s talk about net worth for a second. You said that the net worth goes up and down based upon your own feelings?”

“Yes, even my own feelings, as to where the world is, where the world is going, and that can change rapidly from day to day.

Note this is sworn testimony in a case that djt Lost.


44 posted on 03/08/2016 12:25:45 PM PST by Bidimus1
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To: VitacoreVision

Yup, pretty amazing. The not-rich don’t understand why the rich are rich.


45 posted on 03/08/2016 12:26:12 PM PST by ctdonath2 (History does not long entrust the care of freedom to the weak or the timid. - Ike)
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To: Bidimus1

Source on that please.


46 posted on 03/08/2016 12:28:03 PM PST by dynoman (Objectivity is the essence of intelligence. - Marilyn vos Savant)
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To: Bidimus1
I'm in NY and have a STAR and this doesn't surprise me at all. It is not really coordinated with the State tax dept. and it handled more directly with the town assessor (I'm outside NYC). I have never had to submit a tax return to maintain my STAR.

New York City has its own special set of rules and regs. I don't know how it would work but I think someone in assessment would have had to go through the assessment rolls and determine whether each individual needed to submit their returns to prove income.

There are probably thousands of wealthy New Yorkers with this exemption still in place. I have no proof but it wouldn't surprise me in the least.

47 posted on 03/08/2016 12:28:56 PM PST by RubyR
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To: austinaero

Not that I disagree with you at all, but I have to wonder why ISIS would even bother to sneak in from Mexico when they can just fly in from Belgium any day of the week?

At least before they had to break a sweat.


48 posted on 03/08/2016 12:29:09 PM PST by The Toll
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To: Aevery_Freeman
You don't have to buy politicians to save money on taxes. You hire attornies and accountants.

You buy politicians when you want the politician to influence decision to your benefit. In commercial real estate - Trump would have to be buying locally. And there is no indication he has.

Again, the in battle of being the buyer(Trump) or the purchased(Cruz, Rubio, Kasich and the rest of the establishment), I will continue to side with the BUYER.

49 posted on 03/08/2016 12:31:54 PM PST by Solson (Trump plays to win. Deal with it.)
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To: GIdget2004

Maybe they do. However things like this get missed all the time. That is a major undertaking. Is there more proof for that statement?


50 posted on 03/08/2016 12:32:56 PM PST by RubyR
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To: GIdget2004

The author; Aaron Elstein

Sure isn’t Einstein.


51 posted on 03/08/2016 12:33:29 PM PST by Balding_Eagle ( The Great Wall of Trump ---- 100% sealing of the border. Coming soon.)
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To: GIdget2004

Amusing.


52 posted on 03/08/2016 12:33:46 PM PST by Jewbacca (The residents of Iroquois territory may not determine whether Jews may live in Jerusalem)
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To: Lopeover

“Assets are what counts.”

In determining wealth it sure is!


53 posted on 03/08/2016 12:33:54 PM PST by Wpin ("I Have Sworn Upon the Altar of God eternal hostility against every form of tyranny...")
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To: GIdget2004

So what? There are plenty of rich people who only take a token salary, but get compensated in other ways.


54 posted on 03/08/2016 12:35:57 PM PST by Moonman62 (The US has become a government with a country, rather than a country with a government.)
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To: mcjordansc

Just about all he does is work so I can imagine most of what he does is deductible. It’s just the way the laws have been structured.

I know a thing or two about this.


55 posted on 03/08/2016 12:37:42 PM PST by Aria (2016: The gravy train v Donald Trump)
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To: Wpin

RE: Income has little to no reflection on wealth...especially after tax income.

I would say that Trump is ASSET RICH.

As for Liquid cash ( where he can self-fund his Presidential campaign) ... I don’t think so.


56 posted on 03/08/2016 12:37:59 PM PST by SeekAndFind
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To: GIdget2004

Most of Trump’s wealth is in real estate. As a result, you will not see a lot of that as income until a property is sold.

He can claim wealth by making valuations on the properties he owns, like a commercial suite that is Gucci’s US HQ that is worth more than Romney if it were sold on the open market.


57 posted on 03/08/2016 12:38:13 PM PST by NYRepublican72 (Democrats -- it's always someone else's fault.)
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To: CaptainK
"The Clinton's deducted USED underwear donations as a charitable deduction"

Ewwww......

58 posted on 03/08/2016 12:38:23 PM PST by Paladin2
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To: ground_fog; GIdget2004; TheConservativeBanker; Wpin; Hostage; The Iceman Cometh; Zathras; bigbob; ..

The Big Boys ‘get’ taxes... or as Trump said the other day, “I have one store worth more than Romney...” The story was fact checked and TRUE.

“The Donald is right! Gucci store worth more than Romney”

http://www.desmoinesregister.com/story/news/politics/reality-check/2015/06/03/donald-trump-mitt-romney-gucci-claim-true/28443013/

From Link:

Now, much of Romney’s wealth has resided in the financial markets, which have generally been way up in recent years. Since Jan. 1, 2012, the Dow Jones Industrial Average is up 48 percent; the S&P 500 is up 68 percent. But in the absence of better data, that $230 million figure will have to be our baseline, with the substantial caveat that the true number is likely north of that by perhaps tens of millions of dollars.

Before we get into the calculations, let’s lay out a bit of background on that particular Gucci store. The four-story, 45,000-square-foot space at Trump Tower on the corner of 5th Avenue and 56th Street in Midtown Manhattan is the Italian fashion house’s flagship location. In 2010, Bloomberg quoted its annual rent at $16.5 million, a figure that aides to Trump interviewed this week did not dispute but which potentially has increased in the years since.

Although the value of real estate is never certain and always comes down to the price a buyer is willing to pay for it, those two key pieces of information — the store’s square footage and annual rent — allow us at least to estimate a value.

Retail condos — retail spaces sold separately from other commercial and residential units within the same building — have become increasingly popular in New York in recent years, and have generated incredible valuations for storefronts in some of the city’s marquee shopping districts.


59 posted on 03/08/2016 12:38:55 PM PST by GOPJ (Republican elites have turned into " race-baiting bigots" - feeding on PC mob evils.)
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To: Paladin2

Monica’s??


60 posted on 03/08/2016 12:40:03 PM PST by Hang'emAll (If guns kill people, do pencils misspell words?)
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