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Trump Taxes - Profits And Losses

Discussion in 'Politics' started by chrisrobin, May 8, 2019.

  1. chrisrobin

    chrisrobin Worshipped Member

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    Trump is the man in whom the great American public have entrusted faith to make the right decisions when it comes to the countries finances and trade.
    Apart from being declared bankrupt more than once - which would have mortified anybody else banks it seemed were willing to loan him more money to make even greater losses.

    At least now he's in a position whereby he can influence how money moves as long as its in his favor!
    For one man running a business empire do you really think you can trust this man with the counties wealth let alone pocket money
    ?


    "President Trump's businesses lost nearly $1.2 billion between 1985 and 1994, according to The New York Times, citing IRS transcripts.
    In 1990 and 1991 alone, according to the Times, Trump's business losses exceeded $250 million each year, more than twice those of the nearest taxpayer in the IRS information for the two years.
    The documents indicate he lost so much money during that decade that he avoided paying income tax for eight of the 10 years, according to the Times, although it was unclear whether the IRS asked him to make changes after audits.
    The Times said that it received different responses from Trump's team over time. A senior official told the Times several weeks ago that Trump "got massive depreciation and tax shelter because of large-scale construction and subsidized developments." But more recently, a lawyer for Trump said that the tax data was "demonstrably false."
    The Times's article comes amid a fight between House Democrats and the Trump administration over Democrats' request for Trump's personal and business tax returns from 2013 to 2018.
    Treasury Secretary Steven Mnuchin on Monday rejected the request from House Ways and Means Committee Chairman Richard Neal (D-Mass.), saying it lacked a legitimate legislative purpose."

    from - Naomi Jagoda and Zack Budryk - The Hill - 08 May 2019
     
  2. Thedrewbert

    Thedrewbert Superior Member

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    I'm sure he's doing better now that he can line his pockets with taxpayer dollars.
     
  3. chrisrobin

    chrisrobin Worshipped Member

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    His tweet about how to cheat the system by pretending to make a loss was interesting, , hope the IRS are looking... but then again he'd lie about just anything to look good - in his eyes!
    But yes indeed he has since become, thanks to the mugs who elected him, very rich indeed.
     
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