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Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses

TrueScotsman

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Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses - The New York Times

The data — printouts from Mr. Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view. Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse.

The numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade.
Looks like Trump was America's biggest loser, but more troubling is the abnormal income stream over the years. And this is before he basically became just a licensing business and reality TV personality. His current financials must be analyzed for conflicts of interest.
 

CMPancake

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It's honestly not the least bit surprising that Trump was bleeding money. I have no doubt this thread is gonna be filled with NPCs droning on about how well Trump claims is doing now and how great the economy is.
 

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This is a perfect example of why I believe Trump should NEVER release his tax returns. I have yet to read the Times article but I just watched 15 minutes of Chris Matthews wetting his pants over this on MSNBC and Erin Burnett nearly fainting in ecstasy on CNN. Meanwhile they each have commentators on explaining how this is "highly unusual", how it's a sign of tax fraud and how it "proves" that Trump is a disaster as a businessman.

It does none of those things.

One thing that is interesting is that this information seems to come from IRS Tax Return Transcripts. That's an unusual source for this kind of information and kind of begs the question of how, exactly the Times got those transcripts.
 

Xelor

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Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses - The New York Times


Looks like Trump was America's biggest loser, but more troubling is the abnormal income stream over the years. And this is before he basically became just a licensing business and reality TV personality. His current financials must be analyzed for conflicts of interest.

Hey, TrueScotsman, it appears you "beat me to the punch," so to speak by five minutes. I'll "report" my thread and ask that it be merged with yours.
 

The Mark

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This is a perfect example of why I believe Trump should NEVER release his tax returns. I have yet to read the Times article but I just watched 15 minutes of Chris Matthews wetting his pants over this on MSNBC and Erin Burnett nearly fainting in ecstasy on CNN. Meanwhile they each have commentators on explaining how this is "highly unusual", how it's a sign of tax fraud and how it "proves" that Trump is a disaster as a businessman.

It does none of those things.

One thing that is interesting is that this information seems to come from IRS Tax Return Transcripts. That's an unusual source for this kind of information and kind of begs the question of how, exactly the Times got those transcripts.

I've been reading the article, and at least one source was "an anonymous email in 2016".
 

CMPancake

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This is a perfect example of why I believe Trump should NEVER release his tax returns. I have yet to read the Times article but I just watched 15 minutes of Chris Matthews wetting his pants over this on MSNBC and Erin Burnett nearly fainting in ecstasy on CNN. Meanwhile they each have commentators on explaining how this is "highly unusual", how it's a sign of tax fraud and how it "proves" that Trump is a disaster as a businessman.

It does none of those things.

One thing that is interesting is that this information seems to come from IRS Tax Return Transcripts. That's an unusual source for this kind of information and kind of begs the question of how, exactly the Times got those transcripts.

Trump shouldn't reveal his taxes because the media will make fun of him for being a bad businessman? That's a real big think right there.
 

OscarLevant

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This is a perfect example of why I believe Trump should NEVER release his tax returns. I have yet to read the Times article but I just watched 15 minutes of Chris Matthews wetting his pants over this on MSNBC and Erin Burnett nearly fainting in ecstasy on CNN. Meanwhile they each have commentators on explaining how this is "highly unusual", how it's a sign of tax fraud and how it "proves" that Trump is a disaster as a businessman.

It does none of those things.

One thing that is interesting is that this information seems to come from IRS Tax Return Transcripts. That's an unusual source for this kind of information and kind of begs the question of how, exactly the Times got those transcripts.


It's precisely why he should release his tax returns because he's claiming he's the art of the deal genius when he's a ****ing loser I mean who ever heard of owning casino and losing money?

Give this A hole enough time and he will **** over America. Hoover took eight years to crash conomy --Bush took eight years crash the economy and it's only two years in with Trump. God knows what will happen by the end of his term.
 

Lutherf

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Trump shouldn't reveal his taxes because the media will make fun of him for being a bad businessman? That's a real big think right there.

See, that's the kind of thinking that gets this stuff all messed up. The loss itself is neither good nor bad. It's merely a reflection of what's going on in the business during that period. What matter is the reason for the loss and whether the losses are likely to lead to profits at some point in the future. As an example, Uber is going to be making their IPO here in the near future and they have had HUGE losses every year. Those losses, however, are due to actions designed to increase their market share of the gig economy market. If al that investment pays off then the people they borrowed money from will become very, very happy as will the new shareholders.

To you and others who are getting really excited about the possibility that Trump is a financial failure, I'd suggest that you ponder the fact that he came back from all those losses and definitely isn't broke.
 

Lutherf

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It's precisely why he should release his tax returns because he's claiming he's the art of the deal genius when he's a ****ing loser I mean who ever heard of owning casino and losing money?

Give this A hole enough time and he will **** over America. Hoover took eight years to crash conomy --Bush took eight years crash the economy and it's only two years in with Trump. God knows what will happen by the end of his term.

Nope. It's perfect evidence of what I keep telling you. People simply have no idea what they're looking at when it comes to tax returns like Trump's and they'll simply base their opinions on what the want to be true.
 

Trump

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Taylor

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Jeff Bezos has him beat. He ran losses for well over a decade. What an awful businessman he turned out to be.
 

OscarLevant

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Nope. It's perfect evidence of what I keep telling you. People simply have no idea what they're looking at when it comes to tax returns like Trump's and they'll simply base their opinions on what the want to be true.

You can say that about all opinions so in essence it's a meaningless statement
 

OscarLevant

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Jeff Bezos has him beat. He ran losses for well over a decade. What an awful businessman he turned out to be.

Bezox stuck it out with Amazon. Trump would have bailed A long time ago
 

beefheart

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Taxman

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The donald makes his money by not paying business's that he owes money to and then claims bankruptcy. In the mean time the money is channeled into another offshore account that is hidden from America. He is a slick schister and con man.
 

Lutherf

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You can say that about all opinions so in essence it's a meaningless statement

Well, generally speaking people have less of an idea regarding how tax returns work than they do about how airplanes fly so, yeah, it's an opinion but it gets supported more and more with every comment by Chris Matthews, Erin Burnett and their flock of sheep that post on internet forums.
 

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Well, generally speaking people have less of an idea regarding how tax returns work than they do about how airplanes fly so, yeah, it's an opinion but it gets supported more and more with every comment by Chris Matthews, Erin Burnett and their flock of sheep that post on internet forums.

Quite possibly conservatives have this problem but liberals do not.
 

Airyaman

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Jeff Bezos has him beat. He ran losses for well over a decade. What an awful businessman he turned out to be.

Then you should encourage Trump to reveal the rest of his tax returns so he can show how he turned it around like Bezos.

Right?
 

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Nope. It's perfect evidence of what I keep telling you. People simply have no idea what they're looking at when it comes to tax returns like Trump's and they'll simply base their opinions on what the want to be true.
What I takeaway from this is that while ordinary Americans were working at their jobs building and manufacturing things of value for hourly wages, so they could feed their families, and paying income and payroll taxes, Trump was a parasite -- borrowing American's savings from banks, living like a king and paying no taxes and defaulting on the loans. NO WONDER HE WANTED HIS TAXES HIDDEN FOREVER!
 

jimbo

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Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses - The New York Times


Looks like Trump was America's biggest loser, but more troubling is the abnormal income stream over the years. And this is before he basically became just a licensing business and reality TV personality. His current financials must be analyzed for conflicts of interest.

Do you know the difference between a tax loss and a loss? Between 1985 and 2019?

Hint # 2489. You're not going to get the returns.
 

MTAtech

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Do you know the difference between a tax loss and a loss? Between 1985 and 2019?

Hint # 2489. You're not going to get the returns.
Tell it to the judge.
 
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