Current Events Thread

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Is this just a coincidence that this story comes out after the video of Biden calling the troops stupid bastards starts circulating?
 
Trump: paid the taxes he owed.

Dems: OMG he’s a criminal.

Dems don’t understand economics or the law. The only understand illogical rage.
 
Again, claiming huge losses on property and then inflating the value of that property to obtain loans is tax fraud. Also, the IRS is auditing his taxes because he possibly claimed a huge refund that he wasn't entitled to. He may owe upwards of $100 million if they rule that the refund was improper.
 
mict085 said:
How many lies does the NYT get to print before the dems quit clinging to their BS stories. NYT has no credibility. NONE.

This trump tax return story is nothing and it won’t sway any votes either way. The dems are desperate and continue to grasp at straws cuz they have nothing.
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I love how you think the NYT has no credibility.... but you think Donald Trump does. One day you will look back on this and realize how absurd this all was. I am confident in that.

"The IRS [Internal Revenue Service] does not treat me well… they treat me very badly"
-Donald Trump
 
steverocks35 said:
Again, claiming huge losses on property and then inflating the value of that property to obtain loans is tax fraud.
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Where is the proof that he did this? And can you point me to the tax code that states this?

Also, the IRS is auditing his taxes because he possibly claimed a huge refund that he wasn't entitled to. He may owe upwards of $100 million if they rule that the refund was improper.
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The IRS audits people all the time. Can you tell me what refund he claimed?

Do you think he does his own taxes? Or do you think he hires tax specialists?
 
The Trump tax fraud story is the main headline (or one of main headlines) on:

CNN, NBC News, ABC News, CBS News, NPR, BBC News, LA Times, Dallas Morning News, The Detroit Free Press, The Miami Herald, The Denver Post, The Houston Chronicle, Chicago Tribune, etc.

I couldn't find any reference to the story on OAN.

And the main headline on Fox News is:

2020-09-28.png


This is about as desperate as it gets... Your primary weapon is a Hunter Biden investigation to distract your cult from the fact that you are broke, a fraud, and 200,000+ Americans are dead on your watch.... and multiple population centers are experiencing social unrest on your watch...

Country is a ****-show right now.... and here we have Trump blaming everyone but himself, and his supporters going right in with him.

The logic being that only Donald Trump can save you from the current mess we are living in under Donald Trump.
 
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thebigabd said:
The Trump tax fraud story is the main headline (or one of main headlines) on:

CNN, NBC News, ABC News, CBS News, NPR, BBC News, LA Times, Dallas Morning News, The Detroit Free Press, The Miami Herald, The Denver Post, The Houston Chronicle, Chicago Tribune, etc.

I couldn't find any reference to the story on OAN.

And the main headline on Fox News is:

2020-09-28.png


This is about as desperate as it gets... Your primary weapon is a Hunter Biden investigation to distract your cult from the fact that you are broke, a fraud, and 200,000+ Americans are dead on your watch.... and multiple population centers are experiencing social unrest on your watch...

Country is a ****-show right now.... and here we have Trump blaming everyone but himself, and his supporters going right in with him.

The logic being that only Donald Trump can save you from the current mess we are living in under Donald Trump.
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This is soooo soooo ironic abd :ez-laugh:
 
thebigabd said:
The Trump tax fraud story is the main headline (or one of main headlines) on:

CNN, NBC News, ABC News, CBS News, NPR, BBC News, LA Times, Dallas Morning News, The Detroit Free Press, The Miami Herald, The Denver Post, The Houston Chronicle, Chicago Tribune, etc.

I couldn't find any reference to the story on OAN.

And the main headline on Fox News is:

2020-09-28.png


This is about as desperate as it gets... Your primary weapon is a Hunter Biden investigation to distract your cult from the fact that you are broke, a fraud, and 200,000+ Americans are dead on your watch.... and multiple population centers are experiencing social unrest on your watch...

Country is a ****-show right now.... and here we have Trump blaming everyone but himself, and his supporters going right in with him.

The logic being that only Donald Trump can save you from the current mess we are living in under Donald Trump.
Click to expand...


Were you not the bloke who posted about paying taxes on "wealth" and not income? And you have the audacity to bring up the term "fraud." The artistry that are people has no bounds thanks to people like yourself.
 
Trump's Federal tax return only shows that he has one hell of an accountant.
 
sheepdogs1 said:
Were you not the bloke who posted about paying taxes on "wealth" and not income? And you have the audacity to bring up the term "fraud." The artistry that are people has no bounds thanks to people like yourself.
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I think there should be wealth tax, yes.

In all seriousness, politics and stuff aside, I love the term bloke. I work with a few companies in Australia and it cracks me up when they use it.
 
thebigabd said:
I think there should be wealth tax, yes.

In all seriousness, politics and stuff aside, I love the term bloke. I work with a few companies in Australia and it cracks me up when they use it.
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You're deflecting once again. You stated how people were paying taxes on wealth and not income. It was not how tax policy should be applied.
 
sheepdogs1 said:
You're deflecting once again. You stated how people were paying taxes on wealth and not income. It was not how tax policy should be applied.
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I guess I don't understand the accusation. These are two very separate issues.

The revelation that this story brings is exclusive to Trump. Not about tax policy. It's about his image.

He isn't as rich as he leads us to believe
He might be broke
He might be guilty of fraud
He's dodged paying federal taxes
All his businesses go bankrupt or lose money
He's not a good businessman

That's what this story is about.

Explain why you think I am being contradictory?
 
thebigabd said:
I guess I don't understand the accusation. These are two very separate issues.

The revelation that this story brings is exclusive to Trump. Not about tax policy. It's about his image.

He isn't as rich as he leads us to believe
He might be broke
He might be guilty of fraud
He's dodged paying federal taxes
All his businesses go bankrupt or lose money
He's not a good businessman

That's what this story is about.

Explain why you think I am being contradictory?
Click to expand...


I don't know why I bother with your silliness. You stated you knew some friends who were paying taxes on wealth and not income in some of your posts. I called you out on it in several posts and you chose to ignore each of them. I'm okay with that but it does not reflect well on you.

"All his businesses go broke or lose money." This is not an accurate statement.

Some people deal with reality as opposed to might, could, possibly, should, perhaps, etc. Point out the realness in life then damn it to hell as opposed to uncertainties.

Historical tax breaks and depreciation allow people to pay less taxes. Explain how this is a bogus application of the fact. Explain how Trump or his accountant created these tax laws and only he is allowed to use such laws.
 
This is a good summation of the first New York Times article on Trump's taxes from a different website.

New York Times Obtains Trump's Tax Returns
Maybe the October surprise is happening a bit early this year, as the New York Times has obtained Donald Trump's tax returns. Two people are now hopping up and down, angry as hell: Donald Trump and Marty Baron (the editor-in-chief of the Washington Post). The Times declined to explain how it got them, but it said it got them from sources that had legal access to them. This could be someone within the Trump Organization, within Mazars (his accounting firm), or someone in a different organization. The report on them went up on the website Sunday evening, but no doubt more will follow, as the Times is sure to hire some forensic accountants to scour them.

In 10 of the past 15 years, Trump paid no taxes at all because he lost more money than he made. In contrast, in 2016 and 2017, he paid $750 in federal taxes each year. That's right, $1,500 total in the first two years of his political career. Now it is starting to come into focus why he has fought tooth and nail to hide the returns: He is under a great deal of financial stress, with hundreds of millions of dollars in debt coming due soon on more than $300 million in loans that he has personally guaranteed. Also out there is a battle over the legitimacy of a $73 million tax refund he applied for and got. If he loses that audit battle with the IRS, that could cost him over $100 million.

One thing to keep in mind about the article and the follow-up articles is that the information comes from Trump's claims on his tax returns. They have not been audited by an independent agency and may not bear any relationship to the truth. The good news for Trump is that the returns do not reveal any previously unknown connections to Russia. The bad news for him is that he isn't a very good businessman. From the article: "Ultimately, Mr. Trump has been more successful playing a business mogul than being one in real life."

Trump made $427 million from "The Apprentice" and related projects. He invested most of it in money-losing golf courses. In fact, his financial condition in 2015 was so bad that it lends credence to the idea that he ran for president not because he thought he could win (or even wanted to win), but because he thought the attention from the run would boost the value of his brand. In 2018, Trump announced that he made $435 million in revenue and seemed proud of it. But revenue is only part of the story. He somehow forgot to mention his bottom line: a loss of $47 million. Many of his businesses lose money. His golf courses and hotel in D.C. lose millions—maybe tens of millions— of dollars year in, year out. Years ago he sold all his stocks to help him plug financial holes. The picture that emerges is that of a man in deep financial doodooo, not a brilliant businessman raking it in.

What also emerges from the tax documents is how Trump is trying to milk the presidency for all it is worth to cover his debts. His hotels have become magnets for (foreign) lobbyists wanting to get into good graces. He needs that money badly to cover the loans soon coming due. Much of this is probably in violation of the Constitution's emoluments clause.

So how did Trump manage to avoid paying any taxes in so many years? By 2005, he had used up the $1 billion in losses from his failed casinos and earlier projects. He went on a buying spree using the money he earned from "The Apprentice." But nearly all the businesses he bought ended up losing money. Consider the Trump National Doral golf club in Florida. Trump bought it in 2012 for $150 million and has pumped another $213 million into it since then. Yet the bottom line on it is negative $162 million. It's a giant money pit into which money flows and never comes back. The other golf courses aren't any better. His three courses in Europe have lost $63 million. On all his courses combined, he has lost $315 million. His hotel in D.C. lost $56 million through 2018, the last year of tax returns the Times got.

Now on to the Trump Corporation. It has lost $134 million since 2000. The President kept it afloat by personally pouring in his own money. However, Trump Tower has made a profit of over $20 million a year.

The article is very long and goes on and on about details and tax maneuvers. It is too long to summarize all of it here. Suffice it to say that Trump is a terrible businessman and there is much in the returns that show deductions that are questionable at best and downright illegal at worst. Indeed, one could argue that he is, in effect, running a Ponzi scheme in which he moves money around as necessary in order to keep the whole house of cards from collapsing.

The political fallout from the first article is hard to predict. Many of his supporters will be shocked to learn that they voted for him because he claimed to be a great businessman and it turns out he is a fraud. But once they have committed to him, probably most of them will not be willing to admit they were duped and switch to being Biden fans. So the impact could be minimal. Also, true to form, Trump has labeled this fake news and dismissed the report. But the Times has already said there will be more articles, and they could be even more devastating than this one.

We will find out soon how Trump reacts. Will he sue the Times for invasion of privacy? He could, but it is tough for someone as public as the president to claim much privacy. Further, per the Streisand Effect, a lawsuit would serve to draw even more attention to the matter. And the Times lawyers would have a field day getting the judge to issue subpoenas for all kinds of stuff that Trump does not want disclosed. (V)
Click to expand...
 
sheepdogs1 said:
I don't know why I bother with your silliness. You stated you knew some friends who were paying taxes on wealth and not income in some of your posts. I called you out on it in several posts and you chose to ignore each of them. I'm okay with that but it does not reflect well on you.

"All his businesses go broke or lose money." This is not an accurate statement.

Some people deal with reality as opposed to might, could, possibly, should, perhaps, etc. Point out the realness in life then damn it to hell as opposed to uncertainties.

Historical tax breaks and depreciation allow people to pay less taxes. Explain how this is a bogus application of the fact. Explain how Trump or his accountant created these tax laws and only he is allowed to use such laws.
Click to expand...

To be fair, a lot of your posts go ignored.
 
Its so sad how you guys go to bed thinking about Trump, wake up thinking about Trump. I think you guys have some sort of Freudian psychosexual attraction to Trump
 
hoopsaustin said:
Its so sad how you guys go to bed thinking about Trump, wake up thinking about Trump. I think you guys have some sort of Freudian psychosexual attraction to Trump
Click to expand...

It's almost as if there's some sort of "election" coming up.
 
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