New York Times Obtains 10 Years of Trump's Tax Returns

DEAD7

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He had 2 sets of books according to Cohen. One to get loans and one to file with the irs. Then when he couldn’t even get legit loans he started laundering Russian money.
Trump hate at its finest :ohlawd: Audits, and investigations turn up nothing... A proven/admitted liar gives you a damning story and you run with it as fact.
I'll never understand the need to reach.
There's more enough legitimate/substantiated fukkery
 

Professor Emeritus

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I love this story primarily just to imagine Trump's reaction.

He's so built around this grandiose self-image, to show that the BEST thing he can say about himself is also a fraud is hilarious. He's gotta be steamed as fukk and I hope it distracts him from getting things done.
 

Slystallion

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Don't know how business deductions and carry over losses work brehs

Returns don't always tell what real cash flow is...there are a number of add backs especially if your a real estate investor

Most real estate investors have negative returns due to heavy depreciation...it Lowers to basis when property is sold but then property improvements add back to basis to lessen cap gains on sale

Now I haven't dug deep in the guys returns and he really could have had his ups and down in business but I thought his bankruptcy battles were well known?
 

BigMoneyGrip

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Straight from Flatbush
Lost ONE BILLION DOLLARS IN 10 YEARS :russ:

This dude is even worse than we thought :mjlol:

You younguns might not remember but this was the era Trump created the myth he was a great businessman. To think this fraud was burning cash from DAY 1
Lose $100 mill a year for a decade brehs
 

the cac mamba

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i was skeptical at first that this was gonna affect anything, given that it was 30 years ago. then i saw 'billion dollar loser' trending on twitter :hovtrump:

should be worth a few laughs at least :skip:
 

Supercoolmayo

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I knew this guy would claim he was avoding raxes when the reports would say he was broke

Donald Trump has responded angrily to reports his businesses recorded more than $1bn in losses, explaining they did so to avoid paying tax.

In early morning tweets, the US president appeared to confirm much of what was detailed in an explosive report about his financial losses between 1985 and 1994, and claimed avoiding taxes among real estate developers was then considered "sport".

"Real estate developers in the 1980’s & 1990’s, more than 30 years ago, were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases," Mr Trump tweeted.

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"Much was non monetary. Sometimes considered 'tax shelter,' you would get it by building, or even buying. You always wanted to show losses for tax purposes....almost all real estate developers did - and often re-negotiate with banks, it was sport.


"Additionally, the very old information put out is a highly inaccurate Fake News hit job!"


Mr Trump's outburst followed a New York Times story which detailed how tax information obtained by the newspaper showed the self-proclaimed billionaire paid no income tax for eight out of 10 years detailed in the documents.

The newspaper said Mr Trump reported business losses of $46.1m (£35.4m) in 1985, and a total of $1.17bn (£900m) in losses for the 10-year period.

Trump says his businesses lost so much because he was avoiding tax
 
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