Posted on 10/02/2016 5:19:40 AM PDT by rktman
Well, it dropped. The first of possibly many October surprises this cycle. Wikileaks’ Julian Assange has already offered teasers about new information he’s obtained about Hillary Clinton that has yet to be released. For now, it’s brief glimpse into Donald Trump’s tax returns that The New York Times says could've legally allowed the billionaire to avoid paying taxes for almost two decades. It’s a 1995 return that the news publication obtained, which showed that Trump had lost almost a billion dollars. The Times contacted a lawyer and accountant to Trump, who said that the return was “legit,” while also detailing that the massive losses were probably associated with his casino interests that were bleeding cash in the 1990s. Again, there’s nothing illegal in these documents:
(Excerpt) Read more at townhall.com ...
If paying taxes is the October surprise, greedy Hillary is in trouble.
Hillary is arguing that you are evil if you don’t give more money than required to the government. Let that sink in.
Thanks. You’re correct. Time flies.
Trump’s most recent tax returns wouldn’t be affected one way or another by a 1995 return. The NY Times is simply taking a cheap shot.
Unless this is a deliberate plant by the campaign, and they have legitimate returns they’re going to drop, this is bad.
The msm will pound this for the next two weeks. Class warfare will return to presidential politics. They want nothing more than to be able to tell blue collar voters “see, he’s not like you”.
Team Trump needs to get on top of this immediately or this is going to cripple him.
I’m so disgusted with the media. I can see the smiling faces right now in newsrooms across the country.
The money was laundered through the Clinton Foundation, a so-called charity, the Clintons payed no taxes on it. And since that entity is tax exempt, the donors got to take the deduction on their taxes.
I don’t know how much of the $10 billion represents unrealized capital gains,...”
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Part of the 10 billion he claims is what is known in business as “blue sky” and represents the value of the brand name, locations of the businesses in question and other non tangible assets which are nonetheless real.
Trump is paid my many businessman in the hotel and resorts business for the use of his name on their projects. Despite the whining and constant slams on the business acumen of this man he is by any business measure an enormous success.
I’m throughly familiar with US federal tax law. I don’t see any problem to claim losses on your tax return, carry them over and utilize them in future. After all, the owners of NYT should know best how to tax plan business losses over the years.
Hillary reduced her tax burden by making a charitable donation ... to her own Clinton Foundation.
Seriously? Move money from one of your pockets to the other one and get a tax benefit?
This whole tax nonsense is ridiculous. The standard for any presidential candidate — for either side — should be:
Are you under indictment for tax evasion?
No?
Okay, that’s all we need to know.
Correct, Billy.
In the 1990s reorganizations (not liquidations) of his Atlantic City properties, the debt holders wanted to keep him on board for his management skill (actually, the whole management team associated with Trump Enterprises) and for his name. He, personally, still brought value to the properties even in the midst of a very difficult environment for any of the properties to make money. The situation for the gaming industry continued to deteriorate and by the 2000s, he was out entirely (except his name is still on the Taj).
As to what underlay Atlantic City’s problems, it is the legalization of gambling across most of the country. Atlantic City was supposed to be the east coast alternative to Las Vegas. The two were supposed to have a monopoly on casino type gambling. Then came state lotteries, starting with N.H. in 1984 (I think). Then Off-Track Betting in New York City. Then Indian gaming. Then Riverboat gambling in the midwest. And now gambling of all sorts is nearly ubiquitous. Why go to Atlantic City or Las Vegas for that matter.
Well, Las Vegas has entertainment like no place else, and it is a terrific convention site having very good air connections throughout the country and the world. Atlantic City didn’t build up entertainment to the same degree, and is “served” by airports in Philadelphia and Newark. So, you never got the convention business. Gamblers arrived by bus instead of by air, hey were day-trippers not over-nighters, and they weren’t high rollers.
So, Atlantic City had a low ceiling even when it had a regional monopoly, and soon lost that. If I were Trump, Ivanka not Donald, I’d look to repurpose several of the bankrupt casinos into high class assisted-living properties.
BAM this is EXACTLY what Trump should respond, NYT what the HELL were your business write offs in your returns!!!!
Why? You know what they are like. I know what they are like. Knowing that, we should know exactly what to expect from the media.
Contrary to popular belief, there are still some good reporters at the NYT, WaPo, etc. But they are overshadowed by those reporters that fawn (was stunned when I saw this) over President Obama, Secretary Clinton, etc. I have a friend who is a reporter in a large city and she said there is intense pressure to "push the narrative" in her newsroom. She stands her ground but it is not easy.
Just bought a book last night (for 50 cents!) which discusses how the media has changed in a negative way over the last 30-50 years. Should be an interesting read.
This is EXACTLY the point Trump NEEDS to hammer home out of the billions in the foundation 6% goes to charity the rest is their personal piggy bank, THEN that 6% given to actual charitable giving went to WATERED DOWN AIDS medications to 3rd world countries!!! ANOTHER Clinton crony FRIEND in India pharma company NOW under investigation!!!! Their ENTIRE circle of friends and donors are under investigation for some DAMNED thing!!!
BAM Clinton was in charge of Tax code in 1995!!!!
Actually 1995 was 21 years ago, not 12 years as you stated. So over two decades ago would be correct...
dvwjr
But what I’m saying is Trump needs to say these things in the debates. The low information voter needs to hear it over and over. Most people do not understand how much is really being spent and how little the rich have in comparison.
The way this story is being distorted is mind numbing. The key word is LEGALLY and this story is being reported like he did something wrong.
When I finally think I couldn’t have anymore hatred for our media something like this goes down. They misreport and lie and they think it’s ok because it fits their narrative.
You are obviously not well versed in common core math. The end results don’t matter. It’s the manner that you arrived at your conclusion that’s important. Or something. ;-)
Simple answer by Trump
I have never been a politician and did not write or pass the tax laws
I am a citizen who has simply and in good faith followed the tax law with the help of the best advisors I could find
My companies, businesses and all the side and associated businesses that employ tens of thousands of people have pumped much wealth into the system by taxes paid and economic activity made possible to individuals who I employ or who benefit indirectly through spin off businesses.
No further comment on my personal business which was obtained ILLEGALLY is necessary
but if America wants a debate about how well high rates of taxation have benefitted or hurt our economy, I am prepared to address Hillary’s proposals and assess their Impact, since we have seen many of her liberal democrat taxation schemes put into place over the last 30 years-
and especially under mr obama since 2008, when tax collections have ( doubled to .....) yet the national debt has spiraled to over $20 trillion dollars.
Let’s discuss facts and outcomes of trying the same old tax and spend ideas over and over again...
One question (well, many questions, but one for now) - Does anyone think that someone would leak just ONE YEAR of Trump’s tax returns? I figure if someone at the NY state tax office (most likely source) could leak one return, they would leak several. To me that means that whoever leaked these has several years of Trump’s old tax forms - but they are only releasing this one.
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