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The New Coffee Room

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  3. NYT publishes Trump tax returns

NYT publishes Trump tax returns

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  • jon-nycJ Online
    jon-nycJ Online
    jon-nyc
    wrote on last edited by jon-nyc
    #10

    Personally guaranteed debt of $400MM due 2022, plus a disputed 72MM with the IRS.

    I wonder who he owes that 400 million to?

    That could bankrupt him personally.

    Seems like a potential national security issue.

    Only non-witches get due process.

    • Cotton Mather, Salem Massachusetts, 1692
    AxtremusA 1 Reply Last reply
    • JollyJ Offline
      JollyJ Offline
      Jolly
      wrote on last edited by
      #11

      Then why doesn't the vaunted Grey Lady do a story on something we don't know, like what Hunter did to earn millions from the Russians, Chinese and the Ukranians?

      “Cry havoc and let slip the DOGE of war!”

      Those who cheered as J-6 American prisoners were locked in solitary for 18 months without trial, now suddenly fight tooth and nail for foreign terrorists’ "due process". — Buck Sexton

      X 1 Reply Last reply
      • CopperC Offline
        CopperC Offline
        Copper
        wrote on last edited by
        #12

        Create your free account or log in to continue reading.

        1 Reply Last reply
        • JollyJ Jolly

          Then why doesn't the vaunted Grey Lady do a story on something we don't know, like what Hunter did to earn millions from the Russians, Chinese and the Ukranians?

          X Offline
          X Offline
          xenon
          wrote on last edited by xenon
          #13

          @Jolly said in NYT publishes Trump tax returns:

          Then why doesn't the vaunted Grey Lady do a story on something we don't know, like what Hunter did to earn millions from the Russians, Chinese and the Ukranians?

          Didn’t the senate investigate this? Did they turn up something or not?

          1 Reply Last reply
          • jon-nycJ Online
            jon-nycJ Online
            jon-nyc
            wrote on last edited by
            #14

            I think the $400MM personally guaranteed debt to god-knows-whom is one of the big deals that will fall out of this. Though of course the media will focus on the trivial total income tax paid.

            There’s a reason you can’t get a security clearance when you’re heavily in debt.

            Only non-witches get due process.

            • Cotton Mather, Salem Massachusetts, 1692
            1 Reply Last reply
            • AxtremusA Away
              AxtremusA Away
              Axtremus
              wrote on last edited by
              #15

              So in 2016, Trump paid Stormy Daniels 173 times more money than he paid in federal income tax.

              Wonder if he deducted his payment to Stormy from his taxes.

              1 Reply Last reply
              • jon-nycJ Online
                jon-nycJ Online
                jon-nyc
                wrote on last edited by
                #16

                I wonder if his reported income was low enough for him to get the $1200 Covid check?

                Only non-witches get due process.

                • Cotton Mather, Salem Massachusetts, 1692
                1 Reply Last reply
                • jon-nycJ jon-nyc

                  This tells us what we always knew about him, he’s better at playing successful mogul than actually being one.

                  These aren’t going to be legally interesting on their own in any novel way, the IRS has been auditing them for years.

                  The legally interesting bit is how all these massive loss claims interact with the various loan documents submitted at the same time. That’s where the fraud potential lies.

                  Doctor PhibesD Offline
                  Doctor PhibesD Offline
                  Doctor Phibes
                  wrote on last edited by
                  #17

                  @jon-nyc said in NYT publishes Trump tax returns:

                  This tells us what we always knew about him, he’s better at playing successful mogul than actually being one.

                  Which is of course why he didn't want to release them. It's never been about legality. It's about his bullshit.

                  I was only joking

                  1 Reply Last reply
                  • jon-nycJ Online
                    jon-nycJ Online
                    jon-nyc
                    wrote on last edited by
                    #18

                    Well the idea that he was hiding specific tax fraud in his returns never made sense because the Feds obviously had them.

                    But hiding them from bankers that might have received very different information is certainly in play here. Seems more likely than not given that he was able to get any loans at all.

                    Only non-witches get due process.

                    • Cotton Mather, Salem Massachusetts, 1692
                    1 Reply Last reply
                    • jon-nycJ Online
                      jon-nycJ Online
                      jon-nyc
                      wrote on last edited by jon-nyc
                      #19

                      I still think the big news is the national security implications of nearly a half billion in personal debt.

                      Only non-witches get due process.

                      • Cotton Mather, Salem Massachusetts, 1692
                      Doctor PhibesD AxtremusA 2 Replies Last reply
                      • jon-nycJ Online
                        jon-nycJ Online
                        jon-nyc
                        wrote on last edited by
                        #20

                        Also all kinds of ironies in the fact that The Apprentice kept him afloat for many years.

                        Only non-witches get due process.

                        • Cotton Mather, Salem Massachusetts, 1692
                        1 Reply Last reply
                        • jon-nycJ jon-nyc

                          I still think the big news is the national security implications of nearly a half billion in personal debt.

                          Doctor PhibesD Offline
                          Doctor PhibesD Offline
                          Doctor Phibes
                          wrote on last edited by Doctor Phibes
                          #21

                          @jon-nyc said in NYT publishes Trump tax returns:

                          I still think the big news is the national security implications of nearly a half billion in personal debt.

                          His supporters won't likely care much - they're going to say he's sticking it to the man, missing the obvious point that he's actually the man, at least for now. His creditors might, as you say.

                          I was only joking

                          1 Reply Last reply
                          • jon-nycJ Online
                            jon-nycJ Online
                            jon-nyc
                            wrote on last edited by jon-nyc
                            #22

                            No the average voter won’t think much about the implications, that’s why the press will play the fact that he paid less federal income tax than your average secretary.

                            Only non-witches get due process.

                            • Cotton Mather, Salem Massachusetts, 1692
                            1 Reply Last reply
                            • George KG Offline
                              George KG Offline
                              George K
                              wrote on last edited by
                              #23

                              I guess the only crime that the New York Times revealed was the actual leak.

                              (psst...no connection to Russia, either, LOL)

                              "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                              The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                              1 Reply Last reply
                              • George KG Offline
                                George KG Offline
                                George K
                                wrote on last edited by
                                #24

                                Forgot - saw this last night:

                                Obama Wrote Trump a $73 Million Check:

                                The New York Times’ big exposé on President Trump’s tax returns flags some things that may be dodgy but mainly it just confirms what everybody (including Trump) has always said — there are a lot of loopholes in the tax code that a savvy operator can exploit. Whose fault is that? The system long predates Trump’s political career. For me, one part of the story really stands out, though: “To turn that long arc of failure into a giant refund check,” says the Times, Trump “relied on some deft accounting footwork and an unwitting gift from an unlikely source — Mr. Obama.”

                                Huh? Obama’s stimulus policies led to the Obama IRS writing a check to Trump for $73 million. The Times explains that a business loss can be used as a coupon that can be redeemed against a gain in another business.

                                Until 2009, those coupons could be used to wipe away taxes going back only two years. But that November, the window was more than doubled by a little-noticed provision in a bill Mr. Obama signed as part of the Great Recession recovery effort. Now business owners could request full refunds of taxes paid in the prior four years, and 50 percent of those from the year before that.

                                Mr. Trump had paid no income taxes in 2008. But the change meant that when he filed his taxes for 2009, he could seek a refund of not just the $13.3 million he had paid in 2007, but also the combined $56.9 million paid in 2005 and 2006, when “The Apprentice” created what was likely the biggest income tax bite of his life.

                                The records reviewed by The Times indicate that Mr. Trump filed for the first of several tranches of his refund several weeks later, in January 2010. That set off what tax professionals refer to as a “quickie refund,” a check processed in 90 days on a tentative basis, pending an audit by the I.R.S.

                                His total federal income tax refund would eventually grow to $70.1 million, plus $2,733,184 in interest. He also received $21.2 million in state and local refunds, which often piggyback on federal filings.

                                Trump may have to pay back that money; an IRS audit and an investigation by the congressional Joint Committee on Taxation are pending. But if he doesn’t, it looks like an alternate headline of the Times story could have been: “Obama Policies Created a $73 Million Tax Refund for Trump.” I trust the Times will next be sending out formal letters of apology to those of us who argued Obama’s stimulus policies were unnecessary, wasteful, and bound to be abused.

                                "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                1 Reply Last reply
                                • jon-nycJ jon-nyc

                                  I still think the big news is the national security implications of nearly a half billion in personal debt.

                                  AxtremusA Away
                                  AxtremusA Away
                                  Axtremus
                                  wrote on last edited by
                                  #25

                                  @jon-nyc said in NYT publishes Trump tax returns:

                                  I still think the big news is the national security implications of nearly a half billion in personal debt.

                                  May be the Lincoln Project will make a “call at 3am” ad around this, with the call coming from one of Trump’s creditor demanding a certain veto or executive order.

                                  1 Reply Last reply
                                  • L Offline
                                    L Offline
                                    Loki
                                    wrote on last edited by
                                    #26

                                    I think for the most part the entire story rests on one tax refund (for one event) that is under review for several years. Take that out and what different conclusions do you draw?

                                    NYT fails to let us know that. Do your homework.

                                    1 Reply Last reply
                                    • Doctor PhibesD Offline
                                      Doctor PhibesD Offline
                                      Doctor Phibes
                                      wrote on last edited by
                                      #27

                                      The US tax code is written by a big group of sleazy rich people. Why would it be a surprise that it benefits sleazy rich people like DJT?

                                      Still, he's apparently continuing to claim it's all false, and he pays 10's of millions in tax.

                                      I was only joking

                                      1 Reply Last reply
                                      • jon-nycJ Online
                                        jon-nycJ Online
                                        jon-nyc
                                        wrote on last edited by
                                        #28

                                        Look for imprecise language in the denials. Because he can’t dodge payroll tax for his employees, sales taxes, property taxes, etc.

                                        Only non-witches get due process.

                                        • Cotton Mather, Salem Massachusetts, 1692
                                        1 Reply Last reply
                                        • George KG Offline
                                          George KG Offline
                                          George K
                                          wrote on last edited by
                                          #29

                                          hops in DeLorean
                                          sets dial back to 1995
                                          hits 88 mph
                                          finds 1995 self

                                          "In 25 years you will bang more chicks than George Michael and make more money than Donald Trump."

                                          high fives
                                          hops back in DeLorean

                                          "Now look here, you Baltic gas passer... " - Mik, 6/14/08

                                          The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.

                                          jon-nycJ 1 Reply Last reply
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