Trump and the One Percent...

[Rev. Rye]

Well, it looks like the New York Times found some of Trump's tax returns. As expected, he's hemorrhaged money (at least as far as the IRS knows), but even I was taken aback by one particular passage:

“His losses were so big that in 1991 they accounted for fully 1% of all business losses declared that year by individual American taxpayers,”

Yes, one person fucked up so much that he was responsible for an entire percent of the business losses of an entire country. And he's now the President.

I'm reminded of that one episode of Archer where Cheryl's brother invites the main characters down to his submarine, and asks if they've ever had concerns about her mental health (so he can take control of her share of the Tunt fortune) and everyone casually volunteers information that's so extreme that even he was shocked at the scope of her mental problems. I wish I could find a clip of that scene because that would certainly sum up my thoughts on this news.

[BrianSoddingBoru4]

The Art Of The Deal (unredacted version):

1.  Promise everything.

2.  Deliver nothing.

3.  Bankrupt everyone within walking distance.

Boru

[onlinebiker]

The Art Of The Deal (unredacted version):

1.  Promise everything.

2.  Deliver nothing.

3.  Bankrupt everyone within walking distance.

Boru

You missed --

4. Write a book about it. Pay for good reviews.

[BrianSoddingBoru4]

I would have included it, but Trump didn't write the book.

Boru

[chimp3]

I despise Trump but the  media may be making an error. Claiming losses is not the same as losing profit. How do we know Trump did not profit 10 times his losses?

[Brian37]

I despise Trump but the  media may be making an error. Claiming losses is not the same as losing profit. How do we know Trump did not profit 10 times his losses?

Money are not like electrons that pop in and out of existence, those losses affect someone, regardless if he benefits from it.  Especially if tax laws allow him to claim them, that means that is money that the rest of society has to compensate for, or adds to the long term national debt. He has a long history of stiffing investors and contractors so it isn't just about tax laws.

[downbeatplumb]

I despise Trump but the  media may be making an error. Claiming losses is not the same as losing profit. How do we know Trump did not profit 10 times his losses?

You mean fraud. 

That is highly likely.

[Rev. Rye]

I despise Trump but the  media may be making an error. Claiming losses is not the same as losing profit. How do we know Trump did not profit 10 times his losses?

You mean fraud. 

That is highly likely.

Active fraud or jaw-dropping incompetence: two extremely plausible theories, none of which seem out of character for Trump.

[downbeatplumb]

You mean fraud. 

That is highly likely.

Active fraud or jaw-dropping incompetence: two extremely plausible theories, none of which seem out of character for Trump.

yes those are the options, criminal, incompetent or both.

[Drich]

Well, it looks like the New York Times found some of Trump's tax returns. As expected, he's hemorrhaged money (at least as far as the IRS knows), but even I was taken aback by one particular passage:

“His losses were so big that in 1991 they accounted for fully 1% of all business losses declared that year by individual American taxpayers,”

Yes, one person fucked up so much that he was responsible for an entire percent of the business losses of an entire country. And he's now the President.

I'm reminded of that one episode of Archer where Cheryl's brother invites the main characters down to his submarine, and asks if they've ever had concerns about her mental health (so he can take control of her share of the Tunt fortune) and everyone casually volunteers information that's so extreme that even he was shocked at the scope of her mental problems. I wish I could find a clip of that scene because that would certainly sum up my thoughts on this news.

You guys are morons.

Do you know WHY when you go down like that you try and make it as big of a dollar amount as possible? why you close everything that is not trippling your money? And do you know why/how the things, that are making money are maintained.. Do you even know trump was not an eggs all in one basket person?

Yes we know the trump brand is on everything he has always done (seemingly) which gives slow minded people the idea trump is one business. but in truth trump is several hundreds smaller businesses most of which are not apart of the trump brandname. Some indirectly owned by him through other companies. Like if he had a hotel that did their own landscaping the land scapers would be a company owned by him, maybe a supplier who prvided equipment and equipment maintainance would be a different company and let say they provided their own sod and plants which would make the nusery another company while what supplies the nursery also becomes other companies.. Why? the same reason you diversify your profolio, because if one thing fails it does not wipe you out.

So let say he has or is apart of over 500 companies at the time of his bankruptcy. Now it's time to consolidate ALL your losses across the board from all 500 and wash it all out like one or two main assessetts failed. that way you get a tax credit. in his case a tax credit so lage he is still not paying personal income tax these many years later.

So he despite all of the robbing from the rich the "dims" were doing under clinton and obama and even bush 1 in the name of taxes, Trump was able to consolidate the working businesses he has and while not paying tax was able to grow at a 40% higher rate than anyone else in his tax bracket because he was not mandated to give that 40% to uncle sam.

All perfectly legal and completely honorable by our current tax codes.

That douche bags is the kind of person we have running this country. that is the kind of person who is dealing with china's banks (who bailed us out under obama/Obama borrowed trillions from) who is now working to have what we owed paid in tariffs by the end of his second term without a dollar out of pocket. The same tariffs Clinton wanted to abolish in the transpacific partnership which would leave us with having to send money to china to pay for obama spending and whatever clinton borrowed.