Trump Organization worth one tenth of value previously reported

[nostradumbass]

Right. Trump made 700 million last year and 700 million this year so he has 1.4 billion in the bank. Riiiiiiight. He didn't SPEND a single penny lol

He's like 70, so he's been working a little more than just 2 years.

 

[Rational Poster]

We talking about Bill and Hillary now?

Nope, still Donald.

Your whatboutism won't work here child.

 

[Cubo de Sangre]

If you are actually avoiding taxes and hiding assets it's a crime.

Pardon me while I nitpick the terminology here. Tax evasion is a crime. Tax avoidance is what smart people do.

https://apps.irs.gov/app/understandingTaxes/whys/thm01/les03/ac1_thm01_les03.jsp

Tax avoidance is perfectly legal and encouraged by the IRS, but tax evasion is against the law.

 

[zebby23]

He's like 70, so he's been working a little more than just 2 years.

I was just responding to something someone said. That was his logic not mine. I was talking about the post below.

freaky said: ↑
lmao u idiots still don't know how business works.

Of course his official public record will show a much weaker income. It's how they evade taxes. You guys will always find things to be mad about. If his records show 10B you guys will still be mad.

Also, He's a billionaire not because he rakes in $1B a year. He's a billionaire cuz he actually have a billion dollars in his account. 700m disclosed = at least 1b undisclosed. But even so, 700m this year + another 700m from the year before or next year = 1.4B.

Only thing I got from this is that he evades tax but every rich businessman and politician does it so you can't be mad at Trump but not mad at everyone else.

 

[DragRacer]

“Evade” is the wrong word because that indicates fraud.

Exploiting tax codes to ones advantage isn’t fraud, it’s par for the course.

every rich person does not evade taxes.

stop making assumptions that you hope to be true and acting as if theyre facts. they arent.

 

[Rational Poster]

He's like 70, so he's been working a little more than just 2 years.

To be fair, he'd have to have paid himself 5% of that revenue figure, and make that much money every year without fail, for 40 years, to be a billionaire.

Considering his company's history of bankruptcy, which included instances in which he had to sell his own property to maintain ownership, he's very likely not close to a billionaire.

 

[zebby23]

To be fair, he'd have to have paid himself 5% of that revenue figure, and make that much money every year without fail, for 40 years, to be a billionaire.

Considering his company's history of bankruptcy, which included instances in which he had to sell his own property to maintain ownership, he's very likely not close to a billionaire.

No chance in hell is Donald Trump the man is a billionaire. Just no

 

[PolishHeadlock]

Pardon me while I nitpick the terminology here. Tax evasion is a crime. Tax avoidance is what smart people do.

https://apps.irs.gov/app/understandingTaxes/whys/thm01/les03/ac1_thm01_les03.jsp

Sorry, you are correct.

I was referring specifically to the assertion that they were avoiding taxes by hiding money outside of the US. And you are correct the technical term for that is Tax Evasion.

 

[nostradumbass]

To be fair, he'd have to have paid himself 5% of that revenue figure, and make that much money every year without fail, for 40 years, to be a billionaire.

Considering his company's history of bankruptcy, which included instances in which he had to sell his own property to maintain ownership, he's very likely not close to a billionaire.

Or he could have made much more several of those years. We're not talking about payroll here, income fluctuates greatly year to year. In just the tax return Rachel Maddow ran, he'd declared a $153 million income for the year. It doesn't really matter, but I'm sure he's been both in and out of billionaire status several times over.

 

[Lord Commander Palis]

haha. I'm just a lib snowflake cuck

Indeed!

 

[DragRacer]

No chance in hell?

Yikes.. that’s a staunch sentiment.

Do you say that based on facts and reason, or because you desperately want it to be true?

No chance in hell is Donald Trump the man is a billionaire. Just no

 

[MeatheadMike]

He lied about being a billionaire. Sad!

 

[Rational Poster]

Or he could have made much more several of those years. We're not talking about payroll here, income fluctuates greatly year to year. In just the tax return Rachel Maddow ran, he'd declared a $153 million income for the year. It doesn't really matter, but I'm sure he's been both in and out of billionaire status several times over.

 

[Lord Commander Palis]

No chance in hell?

Yikes.. that’s a staunch sentiment.

Do you say that based on facts and reason, or because you desperately want it to be true?

It's based on hope and change.

 

[AnGrYcRoW]

This is it...

This is what ?

 

[Revolver]

Pardon me while I nitpick the terminology here. Tax evasion is a crime. Tax avoidance is what smart people do.

https://apps.irs.gov/app/understandingTaxes/whys/thm01/les03/ac1_thm01_les03.jsp

Making America Great Again by not investing in America.

 

[AnGrYcRoW]

But everyone kept telling me he must be smart because he's a billionaire.

Everyone in here was saying he was going to do a good job because he was a successful businessman.

Turns how he was lying to everyone, including his shareholders and lenders. I wonder why?

This

 

[DragRacer]

This is the TRUMPOCALYPSE
<45><45><45><45><45><45>

This is what ?

 

[AnGrYcRoW]

This is the TRUMPOCALYPSE
<45><45><45><45><45><45>

I disagree , just another straw on the camel's back

 

[Rational Poster]

This is the TRUMPOCALYPSE
<45><45><45><45><45><45>

No, it's just more evidence that Trump is a lying piece of shit and you're a rube.

Another, I told you so.