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The Trump Years- Every day something more shocking than the last!

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4 minutes ago, Banger said:

transparency...

The Hill‏Verified account @thehill

Treasury plans steps to stymie Dem requests for Trump tax returns http://hill.cm/KsMCzij

Back when Trump was running for President I predicted that if he had ever been forced to publicly reveal his tax returns, he would have ended his campaign before doing so. Now I honestly think he might resign before doing so. 

I don’t believe we, the public, will ever see his tax returns. 

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17 hours ago, OrtonToOlsen said:

You know who else had boring Super Bowls?

Nixon

III Jets

IV Chiefs

V Colts

VI Cowboys

VII Dolphins

VIII Dolphins

5 snoozefests & a game so marred by sloppy penalties & turnovers the MVP went to a linebacker. On the losing team.

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22 minutes ago, timschochet said:

Back when Trump was running for President I predicted that if he had ever been forced to publicly reveal his tax returns, he would have ended his campaign before doing so. Now I honestly think he might resign before doing so. 

I don’t believe we, the public, will ever see his tax returns. 

I think its all a ruse.

 

I don't think you will find much of interest in his personal returns.  But, you put up a fight, and then when the returns finally get released - you say "I told you there was nothing in there!"

 

Now - Trump Org returns.  Those might be interesting.

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2 minutes ago, Sinn Fein said:

I think its all a ruse.

 

I don't think you will find much of interest in his personal returns.  But, you put up a fight, and then when the returns finally get released - you say "I told you there was nothing in there!"

 

Now - Trump Org returns.  Those might be interesting.

There’s no consolidated corporate statements. It’s not like this guy is hiring PwC anytime soon.

500 flow through entities - all partnerships & S-corps (LLCs.) Everything comes through on K-1s (form 1065) and flows to his personal return. His full personal return will be thousands of pages (typical K-1 might be 2-6 pages.)

If they release only the first two pages of his 1040, all we’ll learn is his billion dollar carryover loss allowed him to legally pay no income tax for decades.

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2 minutes ago, BobbyLayne said:

There’s no consolidated corporate statements. It’s not like this guy is hiring PwC anytime soon.

500 flow through entities - all partnerships & S-corps (LLCs.) Everything comes through on K-1s (form 1065) and flows to his personal return. His full personal return will be thousands of pages (typical K-1 might be 2-6 pages.)

If they release only the first two pages of his 1040, all we’ll learn is his billion dollar carryover loss allowed him to legally pay no income tax for decades.

So, you think a loan to a subsidiary of Trump Org will show up in Trump's personal returns?

That seems odd.

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I am sure part of this is just down to accent - but its still funny:

 

Kyle Griffin‏Verified account @kylegriffin1 28m28 minutes ago

Trump mispronounced Nepal and Bhutan as “Nipple” and Button” in a White House meeting with intelligence officials — and noted incorrectly that they’re both part of India, according to TIME's national security correspondent John Walcott.

 

:lol:

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34 minutes ago, BobbyLayne said:

You know who else had boring Super Bowls?

Nixon

III Jets

IV Chiefs

V Colts

VI Cowboys

VII Dolphins

VIII Dolphins

5 snoozefests & a game so marred by sloppy penalties & turnovers the MVP went to a linebacker. On the losing team.

It's so damn funny you felt compelled to defend this. But it is a FF board I suppose. 

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40 minutes ago, BobbyLayne said:

You know who else had boring Super Bowls?

Nixon

III Jets

IV Chiefs

V Colts

VI Cowboys

VII Dolphins

VIII Dolphins

5 snoozefests & a game so marred by sloppy penalties & turnovers the MVP went to a linebacker. On the losing team.

If we need the Dolphins to win before Trump is impeached, it is going to be a looooong time 

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14 minutes ago, Jackstraw said:

It's so damn funny you felt compelled to defend this. But it is a FF board I suppose. 

You know who had the worst sports outcomes? Hitler.

No Olympics after Berlin, no NFLCG, no World Cup, no Stanley Cup, no golf or tennis majors, NBA didn’t exist.

Literally the worst. 

 

 

 

 

 

 

 

 

OK, 85M dead was worse. The point remains.

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1 minute ago, BobbyLayne said:

You know who had the worst sports outcomes? Hitler.

No Olympics after Berlin, no NFLCG, no World Cup, no Stanley Cup, no golf or tennis majors, NBA didn’t exist.

Literally the worst. 

 

 

 

 

 

 

 

 

OK, 85M dead was worse. The point remains.

You mad bro? That was the silliest little throwaway tweet in the world. 

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29 minutes ago, Sinn Fein said:

I am sure part of this is just down to accent - but its still funny:

 

Kyle Griffin‏Verified account @kylegriffin1 28m28 minutes ago

Trump mispronounced Nepal and Bhutan as “Nipple” and Button” in a White House meeting with intelligence officials — and noted incorrectly that they’re both part of India, according to TIME's national security correspondent John Walcott.

 

:lol:

I liked the part where they built a 3-D printed model of North Korea’s largest (“we dismantled it in record time!”) nuclear facility, with removable roof, and placed a to-scale model of the Statue of Liberty inside the facility. Mr President, they could not have dismantled this - they sealed an entrance which they can easily reopen. We have confirmed this.

He ignored them.

”Diego Garcia. Are the people nice? Do they have good beaches?” 

:lmao:

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39 minutes ago, Sinn Fein said:

So, you think a loan to a subsidiary of Trump Org will show up in Trump's personal returns?

That seems odd.

I think I understand their corporate form & where income items will show up.

You realize there are no subsidies, right? There’s the Trump .Org umbrella org; it’s a shell, probably few assets - maybe office equipment? Trump Tower on Fifth Ave? Who knows. The 500 LLCs don’t get consolidated for F/S or income tax return purposes.

Trump Tower Chicago is an LLC. It pays no tax because it’s a partnership. Same thing for Trump Turnberry. Everything is transactional, every business is a one off.

Loans are balance sheet items. The tax return for the partnership will list aggregate totals on the balance sheet schedule - not individual loans. The interest expense for the entity will be aggregate. There is a schedule (box on the K-1) for Foreign Transactions. That would be of interest.

But I imagine if one wanted to disguise transactions there might be a lot of “inter-company” loans / transactions between the 500 entities.

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16 minutes ago, Jackstraw said:

You mad bro? That was the silliest little throwaway tweet in the world. 

Nah I’m just being silly. Furthest thing from mad.

But we can all agree Clinton had the best Super Bowls.

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3 minutes ago, BobbyLayne said:

I think I understand their corporate form & where income items will show up.

You realize there are no subsidies, right? There’s the Trump .Org umbrella org; it’s a shell, probably few assets - maybe office equipment? Trump Tower on Fifth Ave? Who knows. The 500 LLCs don’t get consolidated for F/S or income tax return purposes.

Trump Tower Chicago is an LLC. It pays no tax because it’s a partnership. Same thing for Trump Turnberry. Everything is transactional, every business is a one off.

Loans are balance sheet items. The tax return for the partnership will list aggregate totals on the balance sheet schedule - not individual loans. The interest expense for the entity will be aggregate. There is a schedule (box on the K-1) for Foreign Transactions. That would be of interest.

But I imagine if one wanted to disguise transactions there might be a lot of “inter-company” loans / transactions between the 500 entities.

Trump Tower Chicago is an LLC - but who are the partners?  Is Trump Org one of the partners?

 

As for loans - we have information that most of Trump's recent money was coming from non-US lenders - hence why it should show up as a liability somewhere.

 

You seem to know an awful lot about Trump Org's set-up - where is he getting his loans?

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:lmao::lmao::lmao::lmao::lmao::lmao:  Unity is supposed to a theme in Trump's SOTU tonight....:lmao::lmao::lmao::lmao::lmao::lmao:

sorry...just had to get that out....I guess he's starting to pay attention to those polls...

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Any predictions on the State of the Union? Is Trump going to speak to the American people or do a pep rally for his 30% base?

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And somewhere - some entity is having to identify specific interest expenses - to specific lenders for specific loans - to establish what the business expenses were for a given period.

 

My only point has been - this is not going to show up in Trump's individual returns.

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1 minute ago, Banger said:

:lmao::lmao::lmao::lmao::lmao::lmao:  Unity is supposed to a theme in Trump's SOTU tonight....:lmao::lmao::lmao::lmao::lmao::lmao:

sorry...just had to get that out....I guess he's starting to pay attention to those polls...

And Mutiny is the theme of the Democratic response.

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2 minutes ago, JuniorNB said:

And Mutiny is the theme of the Democratic response.

as they should against the most corrupt admin in our countries history....everyone who has ears and eyes should be revolting against what this administration is doing

Edited by Banger
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2 minutes ago, Banger said:

as they should against the most corrupt admin in our countries history....everyone who has ears and eyes should be revolting against what this administration is doing

Ah yes but, its difficult to get folks to remove their ear muffs and blinders when they can't hear or see, and aren't interested in true facts.

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Unity meaning everyone should just agree with him?

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4 minutes ago, Sinn Fein said:

Trump Tower Chicago is an LLC - but who are the partners?  Is Trump Org one of the partners?

 

As for loans - we have information that most of Trump's recent money was coming from non-US lenders - hence why it should show up as a liability somewhere.

 

You seem to know an awful lot about Trump Org's set-up - where is he getting his loans?

Trump is my source for 500 LLCs / partnerships. I’m a CPA. Most big (& Trump Org was never considered a major player in NYC) real estate companies in Manhattan have similar corporate forms. Every project, each development, is a separate entity. Since they are partnerships there is no consolidation.

Well everyone suspects oligarchs were financing him based on casual comments in golfing foursomes by Eric & Don Jr. There are 91 condos in Trump Tower owned by LLCs. Even if you had their public filings, you might not find out who owns them.

A lot of people (celebrities & ultra rich) buy real estate in NYC that way. Form an LLC (i .e. “347 Pacific Street Corporation”), buy the townhouse at 347 Pacific St, and the owner is hidden. The public disclosure lists Sinn Fein as the Secretary of the LLC. Owners not listed (they’re not required to publish the articles of incorporation.)

Its a way to protect the identity of say Michael Stipe buying a Soho loft. It’s also a great way to launder money. Take dirty money from the kleptocracy and overpay for trophy real estate.

 

 

 

Here’s another aspect that Trump, Inc podcast explored but I have seen virtually nothing in print.

Trump owned 6 golf courses, most of them unprofitable, in 2006. Then they bought or built 11 more golf courses in the next decade. They paid at least 425M in cash, and financed NONE of those eleven courses.

What real estate developer chooses not to leverage their assets? It’s unheard of and makes no business sense. Trump Org never built anything and paid cash prior to this. Then they paid hundreds of millions making improvements.

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23 minutes ago, Sinn Fein said:

And somewhere - some entity is having to identify specific interest expenses - to specific lenders for specific loans - to establish what the business expenses were for a given period.

 

My only point has been - this is not going to show up in Trump's individual returns.

On their financial records. But not on their tax returns. There will not be transactional line items on a return - it will list the aggregate total for the year, not transactions.

(the only hope is if they’re say Foreign Transactions from Deustche Bank or Bank of Cyprus et al)

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11 hours ago, zoonation said:

The gop disagrees with your definition of “swamp”, bruh.  

Sounds like an idea for a thread..

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11 minutes ago, BobbyLayne said:

Here’s another aspect that Trump, Inc podcast explored but I have seen virtually nothing in print.

Trump owned 6 golf courses, most of them unprofitable, in 2006. Then they bought or built 11 more golf courses in the next decade. They paid at least 425M in cash, and financed NONE of those eleven courses.

What real estate developer chooses not to leverage their assets? It’s unheard of and makes no business sense. Trump Org never built anything and paid cash prior to this. Then they paid hundreds of millions making improvements.

Especially when the golf industry started to decline about the same time.

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1 hour ago, Sinn Fein said:

I am sure part of this is just down to accent - but its still funny:

 

Kyle Griffin‏Verified account @kylegriffin1 28m28 minutes ago

Trump mispronounced Nepal and Bhutan as “Nipple” and Button” in a White House meeting with intelligence officials — and noted incorrectly that they’re both part of India, according to TIME's national security correspondent John Walcott.

 

:lol:

It's a good thing Niger isn't in the news right now.

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18 minutes ago, urbanhack said:

Especially when the golf industry started to decline about the same time.

There were / are no cash cows in their portfolio that throws off that much cash. 

The only time Trump ran a public company was the Trump Hotel & Casino Resorts - part of the mid-90s comeback. In Q4 1999 they misled investors during an earnings call by not explaining their revenue included a one-time profit from the sale of All Star Cafes. This is blocking & tackling stuff for accountants - you always note non-recurring events which materially impact the financial statements.

Their CPA firm was Arthur Anderson, which got taken out by the Enron scandal around the time the SEC found THCR guilty of defrauding investors.

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3 hours ago, BobbyLayne said:

Nah I’m just being silly. Furthest thing from mad.

But we can all agree Clinton had the best Super Bowls.

well, we believe he had Super blows

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15 hours ago, Bucky86 said:

I remember a lot of uproar and bad words said about the president by republicans when that happened in Syria. I'm sure it'll happen any minute now

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Take even the most day to day activity that an administration needs to accomplish during a presidency. Trump’s administration seems to purposefully TRY to do _______ unethically or outright illegally. Hell, something as straight forward as the freaking inauguration is shifty as #### with these guys.

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25 minutes ago, Jobber said:

Take even the most day to day activity that an administration needs to accomplish during a presidency. Trump’s administration seems to purposefully TRY to do _______ unethically or outright illegally. Hell, something as straight forward as the freaking inauguration is shifty as #### with these guys.

The inauguration was just another example of him taking donations in exchange for favors. The level of corruption and abuse of power is frightening. The support he still gets from GOP leadership is sickening.

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Always looking out for the little guy.

NBC News‏Verified account @NBCNews

FollowingFollowing @NBCNews

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NEW: Trump admin. plans to roll back Obama-era restrictions on payday and vehicle title loans.

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58 minutes ago, Bucky86 said:

Always looking out for the little guy.

NBC News‏Verified account @NBCNews

FollowingFollowing @NBCNews

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NEW: Trump admin. plans to roll back Obama-era restrictions on payday and vehicle title loans.

another example of Trump directly targeting the people who supported him...MAGA

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5 minutes ago, Banger said:

another example of Trump directly targeting the people who supported him...MAGA

Being fair to Donald he only cares about this because it's rolling back something Obama did. That's the only reason he cares about this.

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I don't really understand this strategy of Trump and now McCarthy coming out and stating that the Dems shouldn't investigate the Trump admin?  They can't really think that there's any possible way that they will ever listen now that they finally have an ability to look into the most corrupt admin ever...so why are they saying this?  The only thing I can think of is to try and make themselves look like victims, right?  that can be the only real goal here...or what am I missing?

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2 minutes ago, The General said:

Being fair to Donald he only cares about this because it's rolling back something Obama did. That's the only reason he cares about this.

ya, lets reward scammers/criminals who prey on the most vulnerable people in our society...MAGA

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"If you really want to see what kind of great legislation we can pass, you've got to stop investigating us! Write your congressman now! Tell him to make Mueller -- Wrap It Up!" (cue Chappelle skit) "Oh, and we're doing wonderful things for black people, too!"

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1 hour ago, Bucky86 said:

Always looking out for the little guy.

NBC News‏Verified account @NBCNews

FollowingFollowing @NBCNews

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NEW: Trump admin. plans to roll back Obama-era restrictions on payday and vehicle title loans.

Hmmm. I wonder he sees this as a move to help himself if he shuts the government down again for the wall funding. With some of the comments from himself, and his surrogates like Wilbur Ross, he might think this solves the “problem” of workers not being able to get stop-gap loans while they aren’t getting paid. In his demented view, he might see this as a solution.

Edited by The Football Freak

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On 2/5/2019 at 6:58 AM, Sinn Fein said:

I am sure part of this is just down to accent - but its still funny:

 

Kyle Griffin‏Verified account @kylegriffin1 28m28 minutes ago

Trump mispronounced Nepal and Bhutan as “Nipple” and Button” in a White House meeting with intelligence officials — and noted incorrectly that they’re both part of India, according to TIME's national security correspondent John Walcott.

 

:lol:

Nobody know Nipple like I do, believe me.

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28 minutes ago, Banger said:

I don't really understand this strategy of Trump and now McCarthy coming out and stating that the Dems shouldn't investigate the Trump admin?  They can't really think that there's any possible way that they will ever listen now that they finally have an ability to look into the most corrupt admin ever...so why are they saying this?  The only thing I can think of is to try and make themselves look like victims, right?  that can be the only real goal here...or what am I missing?

They are just setting up the inevitable economic slowdown.

If the economy soars, then it's all because of Trump.

If the economy slows down, then it's all because of the investigations.

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1 hour ago, Bucky86 said:

Always looking out for the little guy.

NBC News‏Verified account @NBCNews

FollowingFollowing @NBCNews

More

NEW: Trump admin. plans to roll back Obama-era restrictions on payday and vehicle title loans.

Probably planning his next scam.

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42 minutes ago, Banger said:

ya, lets reward scammers/criminals who prey on the most vulnerable people in our society...MAGA

We elected one as POTUS.

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1 minute ago, Dickies said:
1 hour ago, Bucky86 said:

Always looking out for the little guy.

NBC News‏Verified account @NBCNews

FollowingFollowing @NBCNews

More

NEW: Trump admin. plans to roll back Obama-era restrictions on payday and vehicle title loans.

Probably planning his next scam.

America going to take out a payday loan to build the wall.

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