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Trump's Financial Scandal (short form)
#1
The chickens are finally coming home to roost. Cool





10 Things You Need to Know About Trump’s Tax Returns



by Robert Reich | September 29, 2020

"Finally Trump’s tax returns have been made public. Here are the 10 big things you need to know about them:

1. Did he break the law? Almost surely. Details of tax practices suggest fraud on a massive scale. As Michael Bromwich, a former inspector general at the Justice Department, said yesterday, based on the Times’s story, Trump faces federal and state prosecution for bank fraud, tax fraud, wire fraud, and mail fraud, as does his entire family.

2. How little has he paid in taxes? In 11 of the 18 years examined, Trump paid no taxes at all. In his first year in office he paid the most income tax he had paid in a decade: $750. He has deducted taxes for almost everything imaginable, including $70,000 for hairstyling.



3. But he paid taxes in other nations where he did business? Yes, in 2017, when he paid $750 to the U.S., he paid $15,598 in Panama —$145,400 in India —$156,824 in the Philippines. So much for America first.

4. Why did Trump run for president? He was deeply in debt in 2015, and was, as his former fixer Michael Cohen said, eager to rebuild his brand by running for president. The presidency has injected cash into Trump’s businesses, as lobbyists and foreign governments have invested in them. But he’s still losing money.

5. How broke is he? He owes more than $300 million in loans and can’t repay them. His businesses are constantly losing money. He’s fighting with the IRS and could owe another $100 million to the government. So much for the “successful businessman” image.

6. Who does he owe money to? We don’t know. And that’s part of the problem. Because whoever he does has huge leverage over him.

7. Does this make Trump a national security risk? You bet. Note that a bipartisan group of nearly 500 national security officials, past and present, last week endorsed Biden for president. The list includes retired General Paul Selva, who served as vice chairman of the Joint Chiefs of Staff for the first two and a half years of Trump’s presidency.

8. Why is he so desperate to stay in power? Presumably because a sitting president cannot be indicted, and he won’t have to face federal and state prosecution.

9. What’s Trump’s reaction to this bombshell? Not surprisingly, he claims it’s “totally fake news.” But the easiest way to refute it would be to make his tax returns public, which he refuses to do.

10. Will this bombshell affect the election? Probably not. His followers live in a Fox News bubble that this news won’t permeate. It will only confirm what the rest of us already knew. Trump is a conman and a crook."

http://www.smirkingchimp.com/thread/robe...ax-returns
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#2
Wrong - he's been under audit for the last five years. If there was any law breaking they'd have found it by now.

His seemingly low taxes are typical for a business that has made some earlier losses - he can claim them back in subsequent years.
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#3
(09-30-2020, 07:50 PM)andrew_o Wrote: Wrong - he's been under audit for the last five years. If there was any law breaking they'd have found it by now.

His seemingly low taxes are typical for a business that has made some earlier losses - he can claim them back in subsequent years.

 Andy.   You're funny.   Trump is experienced in delaying justice by tying up the law in court.  He has also had almost 4 years now to further slow the process down with his toadies in the IRS (and Congress).

Birds of a feather flock together.

https://publicintegrity.org/politics/thr...ack-taxes/

Trump also has the senate running interference for him.

https://www.thetelegraph.com/business/ar...843718.php


[Image: tt200930.jpg?resize=807x807]
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#4
Meanwhile this is another nothingburger as regards the election.
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#5
(10-01-2020, 06:29 PM)andrew_o Wrote: Meanwhile this is another nothingburger as regards the election.

Nothing ? ?

Who are the people Trump owes money to ? ?

He won't say.

If they are the Saudis and the Russians, it would explain a lot of things.
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#6
Trump owes over 500 companies. I'm sure many of them are 'geared' to some degree - I would be amazed if they weren't because it's normal business practice. He will also almost certainly owe the money to banks and other US institutions. In a setup as large as that I doubt he even knows who his people have borrowed from.

This thing lasted about 12 hrs in the new cycle
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#7
(10-03-2020, 06:50 PM)andrew_o Wrote: Trump owes over 500 companies. I'm sure many of them are 'geared' to some degree - I would be amazed if they weren't because it's normal business practice.  He will also almost certainly owe the money to banks and other US institutions. In a setup as large as that I doubt he even knows who his people have borrowed from.

This thing lasted about 12 hrs in the new cycle

Angel Angel Angel  Yup.  Now the new scandal is Trump's being Covid-19 positive for 72 hours before he tweeted about it.

Or, since 6 of 10 viewers said Bidon won the debate, it could all be just another Trumpy Lie to get out of doing any more debates.

Trump has told so many lies (22,000 or so) in the last 3 years, nobody knows what to believe.
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