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Started By
Message
re: Breaking: CNN reporting that 10 years of Trump’s tax returns have been given to the NYT.
Posted on 5/9/19 at 11:39 am to buckeye_vol
Posted on 5/9/19 at 11:39 am to buckeye_vol
Man, you care more about Trump than Trump does...
0
Posted on 5/9/19 at 11:40 am to buckeye_vol
quote:
buckeye_vol
You're writing a lot
What point do you think you're making that I should care about politically?
Posted on 5/9/19 at 11:44 am to buckeye_vol
quote:
And in 2004 the finalized the sale of for his $200ish million inheritance, and he had another bankruptcy after Trump Hotels & Casino Resorts lost $48 million in the first quarter alone and had $1.8 billion in debt, resulting in a significant reduction in Trump's stake in the company after restructuring.
And none of this has to do with his income in 2005.
Posted on 5/9/19 at 11:46 am to ShortyRob
quote:
You're cutting and pasting a lot
FIFY
Posted on 5/9/19 at 11:52 am to SSpaniel
quote:
quote:
You're cutting and pasting a lot
FIFY
Exactly. And, he's relying on news reports from people that have an agenda against Trump that I am sure have their own "facts".
Posted on 5/9/19 at 11:52 am to deathvalleytiger10
quote:
Exactly. And, he's relying on news reports from people that have an agenda against Trump that I am sure have their own "facts".
Yes. But assuming that every word he's put on this board is 100% valid, which of it am I supposed to care about politically?
Posted on 5/9/19 at 11:54 am to deathvalleytiger10
quote:
And none of this has to do with his income in 2005.
I am still trying to figure this out.
Posted on 5/9/19 at 12:20 pm to deathvalleytiger10
quote:I wouldn't recommend this as a strategy, but let's say he invested all $60.7 million of that loan in the stock market in 1975, and withdrew 2% annually as source of income through the end of 2005 (31 years). And let's pretend there were no other sources income, no inheritance, or anything.
Trump not only grew his net worth, he provided himself a huge income at the same time. Your example provides no income at all, and certainly not anything near the numbers he has created.
In that time, he would have drawn an income of $427 million, or $13.79 million on average. In addition, he would have $1.6 billion still left in the market, $800 million more than the estimate in 2005, even without this $200 million inheritance.
Now if we continued this until today, he would have withdrawn $1.1 billion in total or $23.2 million per year for 44 years through 2018, and the portfolio would be worth $3.83 billion. And if we adjusted each year's withdrawal for inflation using 2019 dollars, the annual withdrawals would have averaged an equivalent of $31.1 million annually.
Posted on 5/9/19 at 1:19 pm to deathvalleytiger10
quote:Well there is a good chance that the bankruptcy had no impact on his 2005 return; however, depending on the arrangement and when it was officially enacted, canceled debt is often taxable income and if that was included would show up in the $42.4 million in business gains from schedule C and/or the $67.4 million in real estate income from schedule E.
And none of this has to do with his income in 2005.
As it pertains to his inheritance, he pretty much used it all up within a year between property purchases plus $55 million in cash to casino creditors. Now how much if any would that have actually resulted in anything on his 2005 returns, I have no idea. But it sure couldn't have hurt his him.
All I know is if in 2004 a business was entering bankruptcy, and he had to get a large personal inheritance to pay off significant debt in cash, then it would seem surprising to be earning $150 million in profit before taxes would be the norm.
Posted on 5/9/19 at 1:29 pm to deathvalleytiger10
quote:You're free to dispute my interpretation of the facts I presented, but what facts do you believe are incorrect? I'm not pulling them from unreliable sources or sources that do not cite the sources of their facts (e.g., property sale records, court filings, etc.).
Exactly. And, he's relying on news reports from people that have an agenda against Trump that I am sure have their own "facts".
Regardless, I'm obviously biased. But we both agree that Trump is a wealthy man. You believe he's more wealthy than I do, and you believe he's a better businessman than I do.
At the end of the day, I'm guessing we would be happy with anything close to even the low end of the estimate, let alone the high end. And as for me, I would rather be a mediocre businessman and have more than enough wealth to last us well beyond our years, than a great businessman and still have a long road ahead of us.
Posted on 5/9/19 at 1:47 pm to buckeye_vol
quote:
I'm not pulling them from unreliable sources or sources that do not cite the sources of their facts (e.g., property sale records, court filings, etc.).
Court filings, unless they are court orders, are inferiority biased. They are filed by litigants arguing their side’s case. Using a court filing as a factual representation is a really risky move.
I’m not sure what all these copy and pastes are supposed to mean. Nothing you have discussed is nefarious or shows trump is poor or a bad business man. Just a annuber wealthy risk taker. I like that.
This post was edited on 5/9/19 at 2:21 pm
Posted on 5/9/19 at 1:51 pm to BBONDS25
How does going through a bankruptcy make your net worth fall?
Posted on 5/9/19 at 1:54 pm to buckeye_vol
quote:I asked a fairly straightforward question. Is there a reason you are unwilling to answer it?
buckeye_vol
Posted on 5/9/19 at 1:55 pm to buckeye_vol
Nice calculations and a total waste of time.
For one, the $60.7 million number did not occur in 1975 according to everything I've read, including the NY Times hit piece. Even if you believe what they wrote, they are talking about loans over 20-30 years, not a one time loan in 1975. The Washington Post has the actual loan agreement from that one deal posted in an article for the 1975 deal you keep referring to. The total loan from Fred Trump was $7.5 million. So your entire premise is blown out of the water and your calculations are meaningless.
And the $200 million inheritance? That is disputed by several other articles and even if it was that number, it was divided among his siblings.
It all comes down to believing the NY Times hit piece or not. Knowing their history and bias, I don't believe them at all, especially when so much more is out there well before he became President and an enemy of the left.
I bet Forbes and Bloomberg are much closer to his net worth being around $3 billion than your estimate of $800 million.
For one, the $60.7 million number did not occur in 1975 according to everything I've read, including the NY Times hit piece. Even if you believe what they wrote, they are talking about loans over 20-30 years, not a one time loan in 1975. The Washington Post has the actual loan agreement from that one deal posted in an article for the 1975 deal you keep referring to. The total loan from Fred Trump was $7.5 million. So your entire premise is blown out of the water and your calculations are meaningless.
And the $200 million inheritance? That is disputed by several other articles and even if it was that number, it was divided among his siblings.
It all comes down to believing the NY Times hit piece or not. Knowing their history and bias, I don't believe them at all, especially when so much more is out there well before he became President and an enemy of the left.
I bet Forbes and Bloomberg are much closer to his net worth being around $3 billion than your estimate of $800 million.
Posted on 5/9/19 at 2:14 pm to buckeye_vol
Multiple posts and still no retraction for your dishonest claim about trump.
It's a shame
It's a shame
Posted on 5/11/19 at 8:32 pm to buckeye_vol
quote:
I may not be smart, but I enjoy learning. So why don’t you take your superior intelligence and knowledge and correct my ignorance.
You wrote this: And as it pertains to Trump, I can’t speak for the specific loan arrangements and depreciation methods of the 1980s (since I know changes were made in the 80’s). But nowadays, the vast majority of his loans are for 10 years, and rental properties use the 27.5 year MACRS schedule. So in that case, over the course of 10 years, he’ll only be able depreciation 36ish percent of the cost, but will have had to paid 100% of cost. That doesn’t seem as beneficial as a longer loan
You have combined a bunch of nonsense. Loans and depreciation and interest. Have you ever filed a corporate tax return?
Posted on 5/11/19 at 9:17 pm to Turbeauxdog
quote:
Multiple posts and still no retraction for your dishonest claim about trump.
It's a shame
What a "mpderate" he is!
At least leftist kooks who are open about being kooks are honest.
Posted on 5/12/19 at 1:06 am to 14&Counting
quote:
Would be willing to bet Trump doesn't pay taxes. If there is a loophole you know Trump exploited it.
I'm getting so sick of this shite. Loophole this and loophole that, when you people probably aren't even capable of doing a 1040 EZ.
Posted on 5/12/19 at 6:59 am to buckeye_vol
quote:So I'm curious, How many 100's of millions or billions are we now crediting that inheritance to have been?
As it pertains to his inheritance, he pretty much used it all up within a year
Just want a figure to help with the calculations.
BTW, here's a little hint: Trump is not an only child.
This post was edited on 5/12/19 at 7:00 am
Posted on 5/12/19 at 9:31 am to buckeye_vol
So after five days of BS you are reduced to admitting Trump is ultra rich and a good businessman.
What a waste of time.
What a waste of time.
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