Yesterday was lost to me for many reasons, so I'm trying to catch up on this tax situation.

[Frustratedlady]

Regarding all the losses in Trump's businesses, did the losses come about because Trump drained the income from the businesses? It just seems that when he had so many years in a row of owing no taxes because of losses is almost impossible to accomplish. However, if he drained the money from a business here and a business there, hid that amount in a separate list of expenses like his dad did, he might be able to make hidden money while avoiding taxes.

I believe his dad had a separate account where he inflated the equipment costs for his buildings, paid an imaginary cost that was way more than the actual and then enjoyed the free money. I had heard that Trump had 500 or more companies, so it wouldn't be that difficult to stretch the losses out over various companies and only take losses a couple years in a row for those businesses then move to another group. Few auditors would have the patience to check every item, so it would be easy to sneak past the auditors.

I just find it difficult to believe that he could have lost so much money over so many years without closing the business or getting someone with sense to run them. He may not be normal-smart, but he IS street smart and learned from an expert in tax avoidance.

[brooklynite]

1. The second article (today) addresses this...

Trump's root businesses have lost huge amounts (like his previous bankrupt companies). That was offset by his APPRENTICE payments and his corresponding name branding licenses.

https://www.nytimes.com/interactive/2020/09/28/us/donald-trump-taxes-apprentice.html

[Frustratedlady]

2. I haven't read that yet. Thanks for the link.

Having operated a couple businesses, I just find it hard to believe that he legitimately lost enough money that many years in a row to be able to claim zero payment due. I guess being known as a bad businessman has its paybacks.

[intrepidity]

3. But *maybe* he really isn't even *street* smart

I take your point and wondered the same.

But then, there is absolutely no evidence anywhere that he has any talent for anything besides shameless self-promotion.

He was not created in a crucible, afterall; but rather in a cushy wealthy household where daddy's 400 million bailed out his failures.

[Frustratedlady]

4. I had to laugh on Sunday when I saw he had two of his favorite guys in to supposedly help him

with his debate prep. Christie and Ghouliani. I rather doubt much conversation was about the debates, as this NYTimes article had just come out (although Trump was aware it was in the making). His team of Christie and Ghouliani always leads me to coverups. Both seem to be able to wiggle their way out of trouble and I imagine Trump admires them highly for that.

Oh, to be a mouse in the White House.