Polishprince
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- Jun 8, 2016
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/——/ The NY Slimes ran this story in the 1990s. They are just rehashing old stale news. It’s all they have.Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses
By the time his master-of-the-universe memoir “Trump: The Art of the Deal” hit bookstores in 1987, Donald J. Trump was already in deep financial distress, losing tens of millions of dollars on troubled business deals, according to previously unrevealed figures from his federal income tax returns.
Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. He has attributed his first run of reversals and bankruptcies to the recession that took hold in 1990. But 10 years of tax information obtained by The New York Times paints a different, and far bleaker, picture of his deal-making abilities and financial condition.
The data — printouts from Mr. Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view. Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse.
The numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade.
In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 — more than $250 million each year — were more than double those of the nearest taxpayers in the I.R.S. information for those years.
Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses
And this is the guy who is our president. He could not even run a small company. He lost over 1 billion dollars, but according to some here he is this great successful businessman. He has successfully conned his way into the presidency. And now he is conning people into believing he turned around an economy that was turned around when he got there and that a legitimate investigation is a coup.
How stupid are we in America?Got a link proving that claim?/——/ The NY Slimes ran this story in the 1990s. They
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Many New Yorkers suspected Trump was a lying sack of shit in the 1990s, but the research behind today's story was compiled after the Biggest Loser in US Business History became POTUS.
The Biggest Loser | DCReport.org
"A major implication of these tax documents, as well as the 2005 partial tax return obtained and other records, is that Trump’s tax returns would not stand up under audit.
"For example, consider the paper real estate losses Trump took on his tax returns...."
"The real estate losses Trump took far exceed the value of his buildings and the limits enacted by Congress governing how much of that value can be written off each year.
"That means he also had large other losses, which was known generally, but not the scale of those losses."
Why is any of this important in any way? It was already known that Donald J. Trump was the poorest man on the planet in the early 1990's, but that he came back in a huge way to win bigly. He wrote a fantastic book about it all, "The Art of the Comeback" if you're interested.
In any event, it was all a long time ago, and we can see Trump's tremendous record since.