Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search

SouthernCal_Dem

(852 posts)
Mon Sep 28, 2020, 12:52 PM Sep 2020

Trump literally can't afford to lose the election

By Peter Weber

It isn't a new idea that President Trump is better at playing a billionaire on TV than earning enough money to be one in real life. But The New York Times got the goods to prove it — 18 years worth of tax documents, from 2000 to 2018 — and released the first bombshell Sunday night (while promising to "publish additional articles about our findings" in coming weeks). It's a doozy.

....

But "the picture that perhaps emerges most starkly from the mountain of figures and tax schedules prepared by Mr. Trump's accountants is of a businessman-president in a tightening financial vise," deep in debt with the bill coming due, the Times reports. That raises the troubling question of whether Trump can literally afford to lose power on Nov. 3 — and what he might do to prevent an electoral defeat and financial ruin.

....

Along with more than $300 million in loans coming due in the next four years for which he is personally responsible, Trump might have to pay back the federal government more than $100 million, including interest and penalties, if the Internal Revenue Service determines he improperly obtained the $72.9 million tax rebate. Trump has valuable assets he might be able to sell (but really doesn't want to) — but he also currently serves as the top executive of the same federal government that includes the IRS and America's federal prosecutors.

If you think Trump wouldn't lean heavily on Attorney General William Barr or Treasury Secretary Steven Mnuchin to protect his personal finances in a second term, or that Barr or Mnuchin are above tipping the scales even a bit, Trump might have a bridge to sell you. Or a condo. Mnuchin's refusal to hand Trump's tax returns over to congressional investigators, and the Justice Department's half-successful defense of that decision, are the reason we are learning what's in Trump's tax filings from The New York Times.

More:

https://theweek.com/articles/940021/trump-literally-cant-afford-lose-election

14 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies

TheBlackAdder

(28,183 posts)
1. If he loses, he's going to completely trash this country before he skives off to Russia.
Mon Sep 28, 2020, 12:54 PM
Sep 2020

.

Watch Putin deny him entry.

.

Miguelito Loveless

(4,460 posts)
10. I see Trump engaging in mass-firings at the CDC,
Mon Sep 28, 2020, 01:11 PM
Sep 2020

the IRS, NSA, EPA, TSA, HHS, FDA, NWS, FEMA, Treasury, Interior, etc. He will burn the government down just so he can then pass the blame for the ensuing economic and civil calamity on Biden (and you an be damn sure that will be the GOP narrative).

wryter2000

(46,036 posts)
3. You know...
Mon Sep 28, 2020, 12:57 PM
Sep 2020

We've all been so horribly stressed by all the corruption, lies, and attempts to dismantle our democracy, and rightly. It occurred to me the other day that Trump must be a hell of a lot more stressed than we are. He's looking at total financial collapse and years in prison.

I imagine he rues the day he came down on that escalator. The thought gives me warm fuzzies.

Raven

(13,889 posts)
6. Exactly my thoughts! And I'll add that being 74 and having some
Mon Sep 28, 2020, 01:03 PM
Sep 2020

other risk factors, he has put me in fear for my life for the last 6 months and deprived me of the hugs and kisses of my only grand child. Unforgivable!

Moostache

(9,895 posts)
11. Trump getting beaten to a pulp in the prison exercise yard is too little too late.
Mon Sep 28, 2020, 01:13 PM
Sep 2020

That motherfucker has KILLED MORE THAN 200,000 Americans in under 8 months, this year alone. That rate is worse than ANYTHING the country has ever seen - even Civil War deaths were slower and he is about 3-4X the death rate of WWII combat deaths already.

We suffer a national 9/11 death toll approximately TWICE A WEEK since June, with September numbers reflecting a worsening again due to reopening schools and soaring infection rates across the nation yet again.

Simple prison time, and even the harshest time available in general population, is not enough for him. He must live to see his children jailed and their futures destroyed on his altar of greed. He must watch the Trump name and idiotic "brand" that he is so proud of be tarnished and made anathema to polite company.

Mere mental anguish is not enough suffering for him.

moonscape

(4,673 posts)
7. Same position as Putin. Long time ago Frontline
Mon Sep 28, 2020, 01:08 PM
Sep 2020

did a program on this. Putin is screwed if he ever relinquishes power.

brush

(53,764 posts)
12. Even if he somehow wins re-election, which is doubtful, millions of dollars worth...
Mon Sep 28, 2020, 01:16 PM
Sep 2020

of loans are0 coming due in the next couple of years, loans not under a corporate shield but loans he personally guaranteed.

What a spectacle that will be for a sitting president to have his loans called due and him not being able to pay them. That would of course be another impeachment and the repugs won't be able to save him.

He needs to resign and say himself and the nation from the indignity.

Where are Goldwater and Howard Baker when we need them as Moscow Mitch, Graham, Pence nor McCarthy have tohe backbone to do what needs to be done.

 

Wellstone ruled

(34,661 posts)
14. Just asume every
Mon Sep 28, 2020, 02:15 PM
Sep 2020

Property he is connected too,is most likely Syndicated with multiple Entities on on the Deeds of Ownership. This was a Money Laundry Operation from the get go. Still say the evidence is in that FinCen document dump.

Latest Discussions»General Discussion»Trump literally can't aff...