Wednesday, May 8, 2019

Tax returns reveal Trump lost over $1 billion in business deals, making him one of the biggest financial losers in the U.S.

Mod: The theory is that after Trump lost almost everything daddy gave him due to disastrously managed business deals, his financial profile became so awful that no bank would lend him any money. Which is when the Russians stepped in to bail him out. For certain considerations, of course. 

Tax returns reveal Trump lost over $1 billion in business deals, making him one of the biggest financial losers in the U.S. (New York Daily News link): President Trump — who has spent decades crafting an image of himself as a master dealmaker — lost more than $1 billion on sketchy business ventures in the 1980s and 90s, making him one of the biggest financial losers in the country, according to a bombshell report Tuesday.

Copies of Trump’s personal 1040 tax transcripts from 1985 to 1994, which were obtained by The New York Times, reveal the president totaled $1.17 billion in losses for the time period, the newspaper said.

The astronomical hit was so severe that Trump avoided paying any income tax for eight of the 10 years, according to the Times. The data, printouts of Trump’s official IRS transcripts with figures from his federal 1040 forms, was provided to the Times by someone who had “legal” access to it. When compared with Internal Revenue Service information on other high-income earners, Trump “appears to have lost more money than nearly any other individual American taxpayer," the Times reported.

The startling tax details come as the House Ways and Means Committee is pressing the IRS to provide Trump’s personal and business returns for 2013 through 2018. Treasury Secretary Steven Mnuchin on Monday, however, refused to hand them over, saying the Democrat-controlled panel’s request “lacks a legitimate legislative purpose.”

Mnuchin’s move, though not unexpected, will likely set off legal fireworks; Democrats could either subpoena the IRS for the returns, or file a lawsuit.

Trump is the first president since Watergate to decline to make his tax returns public. According to the Times, Trump was swimming in red ink while he was peddling his 1987 best-seller “The Art of the Deal.” For example, in 1985, his core businesses reported a loss of $46.1 million, and carried over a $5.6 million loss for earlier years.

10 Years Of Trump’s Tax Information Released By New York Times (Huffington Post link): Rep. Bill Pascrell (D-N.J.), who serves on the House Ways and Means Committee working to get Trump’s tax returns, said in response to the Times report that the president’s “entire tenure is built upon the most colossal fraud in American political history. As these records make clear, Trump was perhaps the worst businessman in the world. His entire campaign was a lie,” Pascrell said in a statement Tuesday night. “He didn’t pay taxes for years and lost over one billion dollars ― how is that possible? How did he keep getting more money and where on earth was it all going? We need to know now.”

The lawmaker stressed that Congress must still see Trump’s actual tax returns and that the IRS is legally obligated to hand them over.

“We now have another part of the truth,” Pascrell said. “We need a lot more.”

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55 comments:

  1. Trump’s Old Tweet About People Who Don’t Pay Taxes Comes Back To Haunt Him
    This 2012 complaint on Twitter didn’t age well.

    https://www.huffpost.com/entry/trump-old-tax-tweet_n_5cd23d64e4b0e524a47c9bdd

    ReplyDelete
  2. What Ivanka Trump's Body Language Around Her Father Reveals According To Communication Experts?
    https://www.youtube.com/watch?v=W5YljeZBOkA&feature=youtu.be&fbclid=IwAR1ZhfLvhgz7hkE6FXDI0I7xQ3iZMkgGmSB1L90jM5eURag-3KNTvLpCbYc

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  3. I saw that last night on tv, still laughing. Small wonder he doesn't want his returns released. Paid taxes in only two years out of ten, but paid very little. Core companies always in the red, bleeding money was the term they used. He had a 50 million dollar influx of cash but they could not tie it to any of his companies. Deutsche Bank was the only bank who would deal with him, and they are know to have ties to Putin and money laundering. Anyone see a possible crime being committed here?

    ReplyDelete
    Replies
    1. Only you, through your rose glasses

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    2. Given the dollars involved, it’s not “any” crime but more likely “many” crimes.

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  4. Trump's worst nightmare is having this revealed. And to think Mnuchin will go to jail to keep his tax returns hidden.

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  5. New York May Allow Release of Trump State Tax Returns


    New York May Allow Release of Trump State Tax Returns

    https://politicalwire.com/2019/05/07/new-york-may-allow-release-of-trump-state-tax-returns/

    “As the standoff over President Trump’s federal tax returns deepens in Washington, New York State lawmakers say they intend to advance a bill on Wednesday to allow congressional committees to see Mr. Trump’s New York State returns,” the New York Times reports.

    “State Senator Brad Hoylman, a Manhattan Democrat, confirmed on Tuesday that the State Senate has enough votes to ensure passage of a bill… The State Assembly has been slower to embrace the bill. ”

    “A tax return from New York — where the president has the headquarters of his business empire and a home in Trump Tower — could contain much of the same financial information as a federal return, which Mr. Trump has steadfastly refused to release.”

    ReplyDelete
  6. Congress Should Be Ready to Arrest Attorney General Barr if He Defies Subpoena

    https://prospect.org/article/congress-should-be-ready-arrest-attorney-general-barr-if-he-defies-subpoena

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  7. List of Trump's many, many fantastic, beautiful deals...

    Trump Steaks...Years in business: 1
    GoTrump.Com ...Years in business: 1
    Trump Airlines..Years in business: 4
    Trump Vodka...Years in business: 5
    Trump Mortgage...Years in business: 1.5
    Trump: The Game...Years in business: 1
    Trump Magazine...Years in business: 2
    Trump University...Years in business: 6...$25,000,000 FRAUD
    Trump Ice...Years in business: Less than 1
    The New Jersey Generals...Years in business: 2
    Tour de Trump...Years in business: 2
    Trump on the Ocean...Years in business: 0.3
    The Trump Network...Years in business: 2
    Trumped!...Years in business: 4
    Trump New Media...Years in business: None
    Trump Baja Oceanfront Condos…never broke ground
    Trump Taj Mahal..BANKRUPT
    Trump Plaza and Casino..BANKRUPT
    Trump Hotels and Casinos Resorts..BANKRUPT
    Trump Entertainment Resorts..BANKRUPT
    Trump Castle... BANKRUPT
    Plaza Hotel..BANKRUPT
    Trump Tower Tampa..BANKRUPT
    Trump Tower Montreal... BANKRUPT

    ReplyDelete
    Replies
    1. Don’t forget Ivanka’s failed fashion company which was supposedly profitable u til she inexplicably ended it after he got elected.


      Trolls got mega trumped!!

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    2. SAD! So SAD!!

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  8. Let the good time roll or something like that? Now another communists propaganda peddler is caught and ordered to register as a Foreign Agent of Communism as a whole like (djt) should. https://abcnews.go.com/US/wireStory/dc-area-radio-station-told-register-russian-agent-62897558

    ReplyDelete
    Replies
    1. Russia today is a nationalist right wing de facto dictatorship. Hasn’t been communist for a while.

      Delete
  9. OMG, you wacky libs, cant you all just get a life, really, stop your insanity it is so juvinal and embarrassing for the world to see.
    No wonder foreign countries attempt to take advantage of the United States, they understand the progressive mindset of immaturity which is out on full display lately. Get a grip.
    Yes, President Trump is a wealthy guy, nothing new here.
    What is NEWS is the leaking of IRS Tax Information; didn't this department take the keys to the front door back from Lois Learner when she left her position?

    ReplyDelete
    Replies
    1. Trump is wealthy because of Russian. The dough daddy gave him is long gone.

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    2. Trump: Lifelong deadbeat and criminal.

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    3. omg you wacky punk! foreign countries attempt to take advantage of the United States, because they see a clown is in charge. that's pretty much it.

      Delete
  10. Watch the lies which will follow all this news.

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  11. Poor baby donny.
    Caught in BIG lie...
    Needs to go to bed with no desert.
    :)

    ReplyDelete
  12. There was rare bipartisan support in the House Judiciary this morning for a resolution granting Louie Gohmert (R - Flatland) and Matt Gaenz (R - New Continental Shelf) an additional 25 IQ points each.

    Support for the resolution quickly collapsed when it was pointed out that they'd still be the dumbest members of Congress ever.

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  13. Time for Manafort to realize that since a pardon will leave him subject to compelled testimony (i.e. can't take 5th), Trump will never pardon him. Time to shorten that sentence Paulie by cooperating.

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  14. Rep Hakeem Jefferies D NY dynamic speech laying out seriousness of following rule of law and people involved with the investigation.....
    Followed by McClintoch R Calif blaming everyone, praising Barr....

    ReplyDelete
    Replies
    1. The GOP wants a King.

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    2. One with an immense butt.

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  15. (djt) appears to be bring down the house? Meaning it's curtain call for the lazy daisy liar calling himself (djt). Does this mean he will get off his soap box or stage of fools?
    Does anyone have any parting words for the crime family of trumps? That is what I thought, good rid-dens and don't let the door hit you in your brain sack when you leave.

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  16. Smells of desperation, this information is 30 years old.

    ReplyDelete
    Replies
    1. Yeah T desperate to hide it because he lied


      I regret voting for him

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    2. 11:21 gained my respect admitting his mistake.

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  17. Trump: Mafia Don and Figurehead
    John Peeler: Trump is not so important in himself as he is as a unifying symbol for the diverse elements of the American right. It’s the focus on him that lets them all pull together.

    But these last couple of weeks have reemphasized another aspect of the Trump phenomenon: the underworld boss. As the Mueller investigation proceeded, a large number of small and medium fry have been caught: indictments, prosecutions, fines and imprisonment have been plentiful. But Trump himself is unindicted (he crows about “total exoneration”), even though the Mueller report details multiple instances of attempts to obstruct the investigation or to fire Mueller himself. Over 450 former federal prosecutors have just published a letter affirming that if Trump were not president, the actions detailed by Mueller would have led to his indictment for obstruction of justice.

    This is very like what we would expect to see with the Mafia: the top Don is the unmoved mover who gets others to do the dirty work while he never gets his hands dirty or leaves fingerprints. And the underlings who do get caught will be taken care of—if they keep their mouths shut like Paul Manafort. If they sing, like Michael Cohen, there will be no mercy.

    https://www.laprogressive.com/trump-mafia-don

    ReplyDelete
  18. Cool! Go suck an egg you idiots in the House Congressmen. You cant even walk down the hall and read the full Mueller report that is offered to you which is 98.5 unredacted, you instead want public theater.
    Now you get Presidential Executive Privilege over Mueller report.
    Heading to the courts for a decision on power distribution in the Legislative branches, Legislative and Executive.
    How are Americans being helped?
    Civil discourts.
    See you in court, the division of power, possibly more power, "clearly spelled out" for the office of the President will be going forward so that any nonsense like this that we are witnessing will not happen again.

    ReplyDelete
    Replies
    1. Why wouldn’t you want it 100% public?

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    2. Traitors are often cowards. They want to hide their crimes.

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    3. “See you in court”?

      10:17 is so “one” with Trump, he thinks he’s litigating this himself. Weird little cultist.

      Delete
  19. What a counterproductive joke the impending vote for Contempt of Congress, everyone knows it will be right down party lines.
    Weaponized political responcibility from the Democrats, so true.

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  20. "If we do our job right" Chuckie Schumer has given an indication of the type of straighty Democrats in 2020 will use for their 2020 WH run; ewe they are sooo scared of Trump, love it.

    ReplyDelete
    Replies
    1. Trump is pretty scared himself. Why else would he be working so hard to cover up his treason?

      Delete
  21. No one cares about the tax returns. The democrats are just trying to find “something” when there is nothing. The pathetic hysterical dems will waste another two years investigating and probing nonsense that the american people don't even care about. When will the dems start legislating again? All they are doing is lying, obstructing, and causing misery and chaos with their endless witch hunts and take down attempts on president trump.

    ReplyDelete
    Replies
    1. “No one cares about the tax returns...”

      Ha! Ha! Ha!

      Delete
    2. This is not new news about trumps taxes. You Liberals are wasting time and just trying to take trump down. Pathetic how the Left is wasting the nations time with this endless witch hunt that went from russian collusion to taxes to holding barr in contempt. Too bad the dems cant stop AG Barr’s Investigation of the illegal spying and wiretapping that occurred under former president Obama’s watch. James Comey will eventually be criminally indicted for his role in the spying and the illegal Fisa warrants.

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    3. In America, we capitalize the ‘A’ Comrade.

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    4. 3:22 - do you ever get sick of being an ass kissing apologist?

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    5. This 1:00 and 3:22 idiot has 3rd grade brain and can’t spell, just like all the scum that support Dump.

      Delete
  22. President Trump's book " The Art of the Deal" and his opening monalog for his show The Apprentice,gave the same tax info that was just released by the New York Daily news.
    That organization must be running out news worthy of current events.

    ReplyDelete
    Replies
    1. ‘Monalog’. Nice one.
      You win.

      Delete
    2. You have to pass an illiteracy test before you're allowed to join the Dumb4Trump Club.

      Delete
  23. Why are Democrats trying so hard for hypocrisy and their cover ups?

    ReplyDelete
    Replies
    1. Why do you lie so much? Do you really want America to lose?

      Delete
  24. Different topic so new post, but I have to preface it by noting that 11:12’s “love it” comment is timely, maybe even prescient:

    Don Jr got subpoenaed to testify before the Senate Intelligence Committee.

    “I love it!”

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    Replies
    1. Another Trump that can’t tell the truth.

      Delete
  25. The Mueller Report is so exoneratingly exonerative Trump is afraid that Americans will become tired of exonerations.

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  26. Just think how many times Trump’s personal jets and helicopters have used costly airports, air traffic control, FAA, National Weather Service etc. and he did not pay a dime in federal taxes to build, maintain, and run such costly infrastructure—you did.

    Now think about how he didn’t pay a dime in federal taxes for roads, bridges, tunnels, ports, water system, power grid, communications, satellites, capital markets, etc or for the military to protect him and his assets—you did.

    Think about it Magats. YOU pay so that Deadbeat Don the Con, Russia’s Favorite American Asshat, can live like a king. He laughs at you.

    ReplyDelete
  27. 47% of white Republicans are bothered when the hear a foreign language.

    https://talkingpointsmemo.com/news/pew-poll-white-republicans-bother-foreign-language-spoken-public

    TPM comments:

    The study also showed that one in four Republicans are just as brain dead as the other three.

    It also showed that one in three Republicans are just as bad at math as the other four.

    ReplyDelete
  28. Trump ruined his own business and he blew the Federal Budget and he worsened the trade deficit.

    Total failure. I regret voting for him

    ReplyDelete
  29. For dishonoring the office of the President of the United States of America, (djt) should be stripped of his position ASAP and removed through the servants or helps entrance and if their is a backdoor that he be led under guard in handcuffs through that portal at once! His name and any supporters names be stricken from any and all legal records to be referred to as only traitors to the the American Peoples of the United States of America, so help me God.

    ReplyDelete

  30. Donald Trump's Terrible, Horrible, No Good, Very Bad Day


    Trump can tolerate and even revels in all manner of criticism.

    But one thing he cannot stand is to be laughed at or mocked as a nothing, especially when it comes to his financial worth, which he sees as the only real proof of his manhood.

    Today, he's being laughed at and mocked up one side and down the other after it was revealed to the world that the Little Emperor not only has no clothes, he's also a financial eunuch.

    This one's gonna leave a mark

    ReplyDelete

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