The Donald Trump Score Card

Maybe not, especially if you saw her.

 

I thought mormons were immune.

 

I thought mormons were immune.

 

Me too.

 

Me too.

 

Trump is still wondering why he lost votes of members of the military.


political cartoon - Trump trash on McCain

image:

 

Horse Face Woman

 

An article that describes how Trump and others avoid paying taxes.



What We Can Do About Trump’s Tax Returns
David Dayen
September 29, 2020

What We Can Do About Trump’s Tax Returns

excerpt:

"The Great Recession was a time of hardship for millions of Americans experiencing lost jobs, stolen homes, and mass suffering. But when Donald Trump thinks back to this terrible time in American history, his eyes must light up. Government measures taken to speed recovery earned him hundreds of millions of dollars in tax benefits.

A good chunk of that is the subject of a fierce IRS audit right now. But you’re right to wonder why the American Recovery and Reinvestment Act (commonly known as the stimulus package), intended to pull the nation’s unemployed and underemployed back into the workforce, managed to bestow so much benefit on a failed businessman who played a tycoon on TV.

The answer goes beyond the Recovery Act. The U.S. tax code has been mangled in bipartisan fashion to serve the powerful. If members of Congress ever managed to separate themselves from their paymasters, they could easily fix this, and end the serial cheating of which Trump is only the most aggressive avatar. That ought to be the primary response to this bombshell."

 

What We Can Do About Trump’s Tax Returns

excerpt:

"Let’s look at those Recovery Act provisions. The first is known as the cancellation of debt income (CODI) rule. It was designed to encourage businesses to restructure debts without taking a tax hit. Canceled debt that often is a by-product of such restructuring is usually treated as income, but under the CODI rule, that income would be deferred for five years, and then spread out over the next five.

As disclosed by The New York Times, instead of declaring forgiven debt in 2009, Trump only began to declare it in increments of $28.2 million in 2014. It’s hard to calculate the ultimate savings from deferring $141 million of taxable income, especially since it overlapped with all the other deductions and credits that Trump took. But pushing taxation out for years and spreading out the hit does give a tangible benefit.

The second Recovery Act situation is more clear-cut. As a business owner—and business income is taking up a greater part of individual tax returns these days—Trump has made healthy use of “tax loss carryforward” rules to take personal losses from his businesses and apply them in future tax years, wiping out his liability. But you can also apply losses backward to cancel out prior tax payments and take refunds. Under the Recovery Act, businesses could apply “carryback” to losses incurred in the recession years of 2008 and 2009 over a longer period of time. Previously, those losses could only offset profits made in the previous two years; the Recovery Act expanded that to five.

This allowed Trump to apply some of his whopping $1.4 billion in losses from 2008 and 2009 back to the $56.9 million he paid in taxes in 2005 and 2006, as well as the $13.3 million from 2007. All told, he got a refund check for $72.9 million, which included interest. The only reason this triggered an audit that is still ongoing is that the source of the losses, Trump’s Atlantic City casinos, resulted from his giving up and abandoning the business entirely. But he didn’t abandon it: He retained 5 percent stock in the new casino company, which would limit his allowable loss to $3,000 per year, substantially less than $700 million."

 

An article about Trump property that concerns why investigators in NY may want to talk with Eric Trump. It's another possible reason why Trump is trying to keep his tax filings secret.



Eric Trump’s Beloved Westchester “Compound” Turns Out to Just Be His Dad’s Tax Write-Off
The New York Times’ investigation of the president’s tax records showed that he classified the Seven Springs estate as an investment property, no matter how much his sons are riding ATVs around there.
By Dan Adler
September 28, 2020

Eric Trump’s Beloved Westchester “Compound” Turns Out to Just Be His Dad’s Tax Write-Off

excerpt:

"Donald Trump paid $750 in income taxes in both 2016 and 2017, the New York Times reported in an extensive investigation of the president’s finances that was published on Sunday. He reportedly paid no income taxes at all in 10 of the 15 years prior. According to the Times, Trump avoided taxes partly thanks to a broad definition of what constitutes business expenses: haircuts for The Apprentice, fuel to get him and his aircraft between his properties, and the property tax on a Westchester estate he would have the IRS believe is an investment property, even though Eric Trump would tell you otherwise."

 

Trump (the Company) Asks Trump (the Administration) for Hotel Relief
By Ben Protess, Steve Eder and David Enrich
Published April 21, 2020
Updated Aug. 26, 2020

Trump (the Company) Asks Trump (the Administration) for Hotel Relief

excerpt:

"President Trump’s signature hotel in the nation’s capital wants a break on the terms of its lease. The landlord determining the fate of the request is Mr. Trump’s own administration.

Trump International Hotel, just a few blocks from the White House, had been a favored gathering place for lobbyists, foreign dignitaries and others hoping to score points with the president. But like most hotels, it is now nearly empty and looking to cut costs because of the coronavirus pandemic."

 

The coronavirus takes its toll on Disney theme parks.


Disney to lay off 28,000 employees as coronavirus slams its theme park business

 

Oh no, 3 players and 5 staff got the sniffles

 

Worldwide death toll passes 0.0125%

 

To all troops of the Sphincter Patrol…you will immediately prepare to engage the enemy who are not MAKING AMERICA GREAT AGAIN! This is not a drill. You will be expected to bend over and expel the full load of bullshit you have been straining to contain. I know you will make me proud. Victory is ours. Your modest, humble leader...PRESIDENT TRUMP!

 

10 Covid deaths in Idaho 21st to 28th September, in 7 days

Oooh time to build a field hospital

 

And those are cases reported, how many are REALLY out there?

 

That's exactly what I was saying is the basis for a tax fraud charge. It can't be a family place when depreciation is for investment commercial property used in business.