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Why are President Trump's Tax Returns Important? (1 Viewer)

That "list" was the one given him by the Federalist Society....it's the same list they give to all the GOP Presidential nominees :mellow:  

Were you actually under the impression he made the list up himself?  I'd bet my life savings he knew who less than 10% of the people were on that list.
I want to take the under on this, but Trump is no stranger to judicial proceedings.  

 
Better vote Biden, then.
because he did so much in the 47 years he's been in DC ?

pro-abortion, anti-gun, anti-American racist who had 8 years as the VP and did .... um .... yeah, no thanks, I'll take Trump and all that's been going great in 4 years and had it not been for a world wide pandemic we'd have the best 4 years maybe EVER under a POTUS

yes - its been that yuge

 
because he did so much in the 47 years he's been in DC ?

pro-abortion, anti-gun, anti-American racist who had 8 years as the VP and did .... um .... yeah, no thanks, I'll take Trump and all that's been going great in 4 years and had it not been for a world wide pandemic we'd have the best 4 years maybe EVER under a POTUS

yes - its been that yuge
Biden is anti-american now.  I mean...at what point is any of this anything more than just complete biased BS to try and get people to react.

No...it has not been that "yuge" nor was it the best...probably the worst overall 4 years of leadership (or lack thereof) and that was before his pathetic response to the global pandemic.

 
That "list" was the one given him by the Federalist Society....it's the same list they give to all the GOP Presidential nominees :mellow:  

Were you actually under the impression he made the list up himself?  I'd bet my life savings he knew who less than 10% of the people were on that list.
Yes it was Don McGaahn (sp?) and the Federalist  Society that facilitated the creation of the list, and the vetting.

The names on the list weren't really the game changer though.   It was the act of publicly releasing it and affirming he would stick to it that was a bold move. 

 
As opposed to the - Obama was born in a different country, Biden is suffering from dementia, Hunter Biden has gotten paid billions - kind of attacks from  your side?
I've not heard anything on Obama from Trump much in about 12 years

Biden is questionable - watch 

https://www.youtube.com/watch?v=Mksxt33xgic

and then there is this :(

https://www.youtube.com/watch?v=DAUOurZIVfI&t=116s                 

Hunter Biden is something CNN won't cover but 

https://www.washingtonexaminer.com/opinion/editorials/yes-joe-biden-is-compromised-by-his-familys-shady-foreign-dealings

https://www.newsweek.com/trump-campaign-demands-answers-hunter-bidens-35-million-wire-transfer-russian-billionaire-1535016

but hey, lets talk about broke Trump and his overspending and not having to pay much in income taxes right ? and not about how Obama's and Hillary and Bill have made tens of millions off their elected positions 

https://www.forbes.com/sites/danalexander/2017/01/20/how-barack-obama-has-made-20-million-since-arriving-in-washington/#5842af355bf0

https://www.theguardian.com/books/2017/mar/01/richest-book-deals-of-all-time-hillary-clinton-james-patterson

 
Biden is anti-american now.  I mean...at what point is any of this anything more than just complete biased BS to try and get people to react.

No...it has not been that "yuge" nor was it the best...probably the worst overall 4 years of leadership (or lack thereof) and that was before his pathetic response to the global pandemic.
don't blame Trump on the pandemic

blame people for going out and about first, then blame local/city ... then blame state and at the last, blame Federal and the very last Trump

a single person cannot stop a virus - every country in the world failed and the Democrats have used covid-19 to their full advantage - its pathetic

Yes, I'd call Biden anti-American. He doesn't seem to support our flag, our military, peace and justice, border/American security .... yes, I'd call all that anti-American. 

 
I know he took advantage of it. And he has every right to use whatever tax laws he can as we all do.

What is infuriating and highly shady and has red flags all over the place....is the simple fact he refuses to disclose his tax returns to the very people he serves.

The American Public and citizens of our country.

He simply has no respect for the office and to us as citizens. Painfully obvious. 

Disclose them Mr President. What are you afraid of?
My tax returns were 70 pages long in 2019.  I own rental property in Idaho and Oklahoma and have a Subchapter S corp for my RE biz. 70 pages for that.

99.9% of the population is not capable of understanding them if they are released. And I'm talking about mine.  LOL.

I imagine he's involved with some legit issues that can go either way.  That's why tax CPA's make big bucks.  He probably has large depreciation allowances and likely write offs on ventures that didn't end well.  Some likely carry over for years.  Tasker might know the specifics on the length.

If he only paid $750, then the code needs to be changed.  Has the IRS charged him with any tax fraud?

For me, I don't give a ratz ### if a politician releases or not.  Has nothing to with them as a candidate.   Focusing on this issue doesn't win an election.
 

 
don't blame Trump on the pandemic

blame people for going out and about first, then blame local/city ... then blame state and at the last, blame Federal and the very last Trump

a single person cannot stop a virus - every country in the world failed and the Democrats have used covid-19 to their full advantage - its pathetic

Yes, I'd call Biden anti-American. He doesn't seem to support our flag, our military, peace and justice, border/American security .... yes, I'd call all that anti-American. 
I don't blame him for the pandemic...I blame him for the response and lack of leadership out of the Federal Government.    Nobody is claiming he could have or should have stopped the virus...so you can just stop trying to make arguments against things I am not saying.  And no...every country in the world did not fail in their response.  Pathetic is how Trump treated the reponse...pathetic is how he downplayed it...pathetic is how he has treated real physicians and contradicted things in public.  All around, his response has been pathetic.

He doesn't support our flag?  Since when?

Doesn't support our military?  That seems like a complete lie as well...Id love something coming close to credible showing anything of the sort.

Peace and justice...I believe he does support such things and has spoke out against the violent protests quite often.

Border security...I think he disagrees with Trump's version of it...then again, so do many people.  None of which makes them anti-American at all.

 
don't blame Trump on the pandemic

blame people for going out and about first, then blame local/city ... then blame state and at the last, blame Federal and the very last Trump

a single person cannot stop a virus - every country in the world failed and the Democrats have used covid-19 to their full advantage - its pathetic

Yes, I'd call Biden anti-American. He doesn't seem to support our flag, our military, peace and justice, border/American security .... yes, I'd call all that anti-American. 
Can't blame the pandemic on Trump, but he sure can get the blame for the handling.  I still find it odd that you dont want Federal handling of something that effects the country and global affairs such as a pandemic.  

I find some people's line in the sand odd.  Ie federal interference for women's bodies that can be handled between her and a doctor, but isolated local handling of a pandemic? 

Do you consider Trump anti-American since he has shown lack of respect for the military and vets multiple times? 

 
My tax returns were 70 pages long in 2019.  I own rental property in Idaho and Oklahoma and have a Subchapter S corp for my RE biz. 70 pages for that.

99.9% of the population is not capable of understanding them if they are released. And I'm talking about mine.  LOL.

I imagine he's involved with some legit issues that can go either way.  That's why tax CPA's make big bucks.  He probably has large depreciation allowances and likely write offs on ventures that didn't end well.  Some likely carry over for years.  Tasker might know the specifics on the length.

If he only paid $750, then the code needs to be changed.  Has the IRS charged him with any tax fraud?

For me, I don't give a ratz ### if a politician releases or not.  Has nothing to with them as a candidate.   Focusing on this issue doesn't win an election.
 
If a politician is taking bribes and stealing taxpayer money, it should be of importance to you.

 
And yes...a man who ran on his business acumen being shown to suck on the business side has a lot to do with him as a candidate.

 
on #3 - business losses - how possible is it that the losses are on paper only, and don't really affect the amount of money in the bank?  that is, depreciation is a loss on paper only.  If I depreciate the value of a car, on paper it's worth less next year than it was this year but it really doesn't affect my bank account.
I mean it's certainly possible, especially for someone invested in real estate.

I think what people sometimes lose sight of, though, is the fact that someone has to actually spend that money in order to get the depreciation.  If you buy a building in cash, yes, you get an extra depreciation deduction annually - some of which can be very lucrative - but you had to actually spend the cash to buy the building.  If you buy a building with financing, yes you get the depreciation - a non-cash expense - but you also have to pay the mortgage, and your payments of mortgage principal aren't deductible - i.e. a cash payment that you can't deduct.

The advantage in this situation being that if you invested in real estate rather than a non-depreciable asset - an investment in corporate stock, for example - you get the depreciation over the life of the asset, but decrease your cost basis for when you sell.  Say you buy a rental property for $100,  hold it for 14 years, you've been able to deduct approx $50 of depreciation.  You sell the property for $150, you have a tax gain of $150 - [$100 - $50] = $100 gain.  If you invest $100 in corporate stock, hold it for 14 years, and sell it for $150, you have a tax gain of $150 - $100 = $50.  End of the day, you have $50 of income in both scenarios, but in one case you got 14 years' of deductions and then more gain on the back-end.  So there's an obvious time-value-of-money benefit.

And then in the end you do a 1031 exchange and all that good stuff, but that's a next-level topic.  The above scenario is very simplistic.

 
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I mean it's certainly possible, especially for someone invested in real estate.

I think what people sometimes lose sight of, though, is the fact that someone has to actually spend that money in order to get the depreciation.  If you buy a building in cash, yes, you get an extra depreciation deduction annually - some of which can be very lucrative - but you had to actually spend the cash to buy the building.  If you buy a building with financing, yes you get the depreciation - a non-cash expense - but you also have to pay the mortgage, and your payments of mortgage principal aren't deductible - i.e. a cash payment that you can't deduct.

The advantage in this situation being that if you invested in a non-depreciable asset - an investment in corporate stock, for example, is that you get the depreciation over the life of the asset, but decrease your cost basis for when you sell.  Say you buy a rental property for $100,  hold it for 14 years, you've been able to deduct approx $50 of depreciation.  You sell the property for $150, you have a tax gain of $150 - [$100 - $50] = $100 gain.  If you invest $100 in corporate stock, hold it for 14 years, and sell it for $150, you have a tax gain of $150 - $100 = $50.  End of the day, you have $50 of income in both scenarios, but in one case you got 14 years' of deductions and then more gain on the back-end.  So there's an obvious time-value-of-money benefit.

And then the end you do a 1031 exchange and all that good stuff, but that's a next-level topic.  The above scenario is very simplistic.
Excellent post.   
 

 
For me it does.  Tells me he's not very good with money.
Has he had to declare bankruptcy for multiple businesses and shut down a university due to fraud?  Or just that he doesn't look for every loophole to go low on his taxes?  Yeah...Im not all that worried about him especially since he is not pushing himself as the business guy running for POTUS.

 
Has he had to declare bankruptcy for multiple businesses and shut down a university due to fraud?  Or just that he doesn't look for every loophole to go low on his taxes?  Yeah...Im not all that worried about him especially since he is not pushing himself as the business guy running for POTUS.
How many went BK?

How many didn't go BK?

ETA:  How many went BK in 2008 due to the depression?  I had a 22 year old business that went BK due to that. Doesn;t make me a fraud , failure or anything you want to label it.

 
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How many went BK?

How many didn't go BK?

ETA:  How many went BK in 2088 due to the depression?  I had a 22 year old business that went BK due to that. Doesn;t make me a fraud , failure or anything you want to label it.
Hmm...hard to tell how many went BK in 2088.

Also...its not just his bankruptcies...read the stories and these reports...his businesses suck.  Seriously suck.  Loss upon loss upon loss...debt upon debt upon debt.

 
Hmm...hard to tell how many went BK in 2088.

Also...its not just his bankruptcies...read the stories and these reports...his businesses suck.  Seriously suck.  Loss upon loss upon loss...debt upon debt upon debt.
thanks for making fun of my typo that I corrected while you were typing this out.

I'm sure a lot of his businesses suck.  Which means he had a lot of businesses that did really well to pay for those.   If he's had 100 biz do well and 5 go BK,  that does not suck.  I don't know the exact numbers.

Have you ever started/owned a business?

 
thanks for making fun of my typo that I corrected while you were typing this out.

I'm sure a lot of his businesses suck.  Which means he had a lot of businesses that did really well to pay for those.   If he's had 100 biz do well and 5 go BK,  that does not suck.  I don't know the exact numbers.

Have you ever started/owned a business?
Yes...I have.  And I don't think your numbers of how many of his businesses have done well vs suck are even close.

Have a nice night...this is pointless.

 
Yes...I have.  And I don't think your numbers of how many of his businesses have done well vs suck are even close.

Have a nice night...this is pointless.
That's why I said I don't know the exact numbers.  I used those numbers as an example.

 
My tax returns were 70 pages long in 2019.  I own rental property in Idaho and Oklahoma and have a Subchapter S corp for my RE biz. 70 pages for that.

99.9% of the population is not capable of understanding them if they are released. And I'm talking about mine.  LOL.

I imagine he's involved with some legit issues that can go either way.  That's why tax CPA's make big bucks.  He probably has large depreciation allowances and likely write offs on ventures that didn't end well.  Some likely carry over for years.  Tasker might know the specifics on the length.

If he only paid $750, then the code needs to be changed.  Has the IRS charged him with any tax fraud?

For me, I don't give a ratz ### if a politician releases or not.  Has nothing to with them as a candidate.   Focusing on this issue doesn't win an election.
 
:goodposting:

People act like he actually wrote down fraudulent numbers himself or something.  He has a full team of people figuring this stuff out for him, he doesn't file his own taxes.

Does it show he has lost a lot of money in his businesses, sure maybe.  Is he a fraud and a tax cheat, not likely.  Is there any Russia there, no.

 
This is supposed to be a rebuttal of personal attacks?

 
Hmm...hard to tell how many went BK in 2088.

Also...its not just his bankruptcies...read the stories and these reports...his businesses suck.  Seriously suck.  Loss upon loss upon loss...debt upon debt upon debt.
Everyone knew his name, then he became president of the United States.

 
How did he do that if he's such a lousy business man?  I suppose you want to believe he conned half the country?

famous - rich - president   
Wait...what...how did he have his name known?  Having your name known means you are good at business?  That is quite the leap in logic there.

 
How many went BK?

How many didn't go BK?

ETA:  How many went BK in 2008 due to the depression?  I had a 22 year old business that went BK due to that. Doesn;t make me a fraud , failure or anything you want to label it.
I believe he had about 6 go BK with all or most being in Atlantic City where everything has tanked. He’s been part of thousands and thousands of businesses according to one of the Trump haters in here....how would you rank that success rate of 6 failures out of thousands? In a failing city at the timeframe you mentioned in the Great Recession.  :popcorn:

 
My tax returns were 70 pages long in 2019.  I own rental property in Idaho and Oklahoma and have a Subchapter S corp for my RE biz. 70 pages for that.

99.9% of the population is not capable of understanding them if they are released. And I'm talking about mine.  LOL.

I imagine he's involved with some legit issues that can go either way.  That's why tax CPA's make big bucks.  He probably has large depreciation allowances and likely write offs on ventures that didn't end well.  Some likely carry over for years.  Tasker might know the specifics on the length.

If he only paid $750, then the code needs to be changed.  Has the IRS charged him with any tax fraud?

For me, I don't give a ratz ### if a politician releases or not.  Has nothing to with them as a candidate.   Focusing on this issue doesn't win an election.
 
:goodposting: x100

Nice to see posts like this speaking the truth, not talking points. Very good points. My return is well over 100 pages, can you imagine his? The media is already trying to false claim interest expenses and loss carry forwards are a bad thing which they aren’t if you follow our laws....imagine all the false info they would spread with their lack of knowledge, poor integrity, and the full returns. Spare me. 

 
I believe he had about 6 go BK with all or most being in Atlantic City where everything has tanked. He’s been part of thousands and thousands of businesses according to one of the Trump haters in here....how would you rank that success rate of 6 failures out of thousands? In a failing city at the timeframe you mentioned in the Great Recession.  :popcorn:
Appears to be correct.

https://www.thoughtco.com/donald-trump-business-bankruptcies-4152019

All are public knowledge.

 
I believe he had about 6 go BK with all or most being in Atlantic City where everything has tanked. He’s been part of thousands and thousands of businesses according to one of the Trump haters in here....how would you rank that success rate of 6 failures out of thousands? In a failing city at the timeframe you mentioned in the Great Recession.  :popcorn:
Claiming its only a failure if you declare BK is the issue here...as usual, look at everything....read the actual reporting being done right now.  These businesses are hemoraging money.   Not just 6 failures.

 
Wait...what...how did he have his name known?  Having your name known means you are good at business?  That is quite the leap in logic there.
C'mon this is simple Business 101 stuff.  Do you know why not so famous businessmen hire sports stars to do commercials?  Name = Branding  

 
Claiming its only a failure if you declare BK is the issue here...as usual, look at everything....read the actual reporting being done right now.  These businesses are hemoraging money.   Not just 6 failures.
You don’t seem to have a handle on what you are claiming and you don’t have everything to look at being private businesses so it’s clear you are making false statements based on your agenda. Either support it with precise facts or stop please. 

 
Hmm...hard to tell how many went BK in 2088.
It's super difficult to tell how many went bankrupt in 2088, but, Trump won't be around then so probably not relevant.

Yes...I have.  And I don't think your numbers of how many of his businesses have done well vs suck are even close.
It turns out his numbers were pretty accurate as shown in the links provided.  Do you have any links that back up your claims?  

 
Forgot some were during previous recession as well, my bad. 
The Trump Organization is a group of about 500 business entities of which Donald Trump is the sole or principal owner.[5] About 250 of these entities use the Trump name.

So about 500 to 6.     If some are losing money, doesn't seem like it's the end of the world.  

The Trump Organization, through its various constituent companies and partnerships, has or has had interests in real estate development, investing, brokerage, sales and marketing, and property management. Trump Organization entities own, operate, invest in, and develop residential real estate, hotels, resorts, residential towers, and golf courses in various countries.[6][7][8] They also operate or have operated in construction, hospitality, casinos, entertainment, book and magazine publishing, broadcast media, model management, retail, financial services, food and beverages, business education, online travel, commercial and private aviation and beauty pageants.[9][10] Trump Organization entities also own the New York television production company that produced the reality television franchise The Apprentice.[11] Retail operations include or have included fashion apparel, jewelry and accessories, books, home furnishings, lighting products, bath textiles and accessories, bedding, home fragrance products, small leather goods, vodka, wine, barware, steaks, chocolate bars, and bottled spring water

https://en.wikipedia.org/wiki/The_Trump_Organization#:~:text=The Trump Organization is a,entities use the Trump name.


 

 
The Trump Organization is a group of about 500 business entities of which Donald Trump is the sole or principal owner.[5] About 250 of these entities use the Trump name.

So about 500 to 6.     If some are losing money, doesn't seem like it's the end of the world.  

The Trump Organization, through its various constituent companies and partnerships, has or has had interests in real estate development, investing, brokerage, sales and marketing, and property management. Trump Organization entities own, operate, invest in, and develop residential real estate, hotels, resorts, residential towers, and golf courses in various countries.[6][7][8] They also operate or have operated in construction, hospitality, casinos, entertainment, book and magazine publishing, broadcast media, model management, retail, financial services, food and beverages, business education, online travel, commercial and private aviation and beauty pageants.[9][10] Trump Organization entities also own the New York television production company that produced the reality television franchise The Apprentice.[11] Retail operations include or have included fashion apparel, jewelry and accessories, books, home furnishings, lighting products, bath textiles and accessories, bedding, home fragrance products, small leather goods, vodka, wine, barware, steaks, chocolate bars, and bottled spring water

https://en.wikipedia.org/wiki/The_Trump_Organization#:~:text=The Trump Organization is a,entities use the Trump name.


 
There’s a poster, possibly SID had a diagram claiming he had involvement in many more beyond this number but I don’t know that to be accurate. This ratio you’ve provided is one anyone would take. As you know for a real estate based firm as well depreciation is one of the largest “expenses” on the books and these claims of hemorrhaging money because of book losses just aren’t accurate. 

 
There’s a poster, possibly SID had a diagram claiming he had involvement in many more beyond this number but I don’t know that to be accurate. This ratio you’ve provided is one anyone would take. As you know for a real estate based firm as well depreciation is one of the largest “expenses” on the books and these claims of hemorrhaging money because of book losses just aren’t accurate. 
My depreciation allowance is slightly more than my net profit on my rentals (by design). As Tasker noted earlier in his great example, If I sell, all that depreciation gets deducted from my cost basis and then I pay taxes on that.  Unless I do another 1031 exchange into a larger property.   IRS allows depreciation for 27.5 years on rentals, 39 years on commercial.

If, let's say FOR EXAMPLE , 350 of Trump's 500 businesses are in real estate that is eligible for depreciation allowances, then I can easily see why he pays no taxes.

I actually think it's a good IRS allowance.  From the absolute ground floor where I was 15 years ago, to now and in the future, it helps justify the enormous risk one must take to provide decent housing for all by creating all the different levels of housing investing.    

 
C'mon this is simple Business 101 stuff.  Do you know why not so famous businessmen hire sports stars to do commercials?  Name = Branding  
Being famous or having your name known does not equal being great at business.  I cant be more clear than that.

 
You don’t seem to have a handle on what you are claiming and you don’t have everything to look at being private businesses so it’s clear you are making false statements based on your agenda. Either support it with precise facts or stop please. 
Except I do...Ive been actually reading the reports coming out rather than ignoring them.  If you want to claim what I have said is false...you best try backing that up something.  The precise facts are in the reports that have been being discusses in this board.  Read them before claiming what you have please.

 
Except I do...Ive been actually reading the reports coming out rather than ignoring them.  If you want to claim what I have said is false...you best try backing that up something.  The precise facts are in the reports that have been being discusses in this board.  Read them before claiming what you have please.
It’s ok you don’t seem to grasp this, let’s move along. 

 
It’s ok you don’t seem to grasp this, let’s move along. 
I grasp that some seem to be here to have some pointless back and forth without actually discussing the issues in the reports and what is being found...and then laugh at other posts that they don't agree with.  Yes...better if we move along rather than continue this pointless game where by some continue to ignore the reporting all together and would rather take shots at people.

 
Yes it was Don McGaahn (sp?) and the Federalist  Society that facilitated the creation of the list, and the vetting.

The names on the list weren't really the game changer though.   It was the act of publicly releasing it and affirming he would stick to it that was a bold move. 
You're aware their list is public knowledge right?

 

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