To the best of my ability to know the money was dishonest. Really hard to tell any more.
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To the best of my ability to know the money was dishonest. Really hard to tell any more.
Forbes renounced including Trump in its list of richest men.Quote:
Originally Posted by tomder55
It took decades to unwind the elaborate farce Trump had enacted to project an image as one of the richest people in America. Nearly every assertion supporting that claim was untrue.
Over time, I have learned that he should not have been on the first three Forbes 400 lists at all. In our first-ever list, in 1982, we included him at $100 million, but Trump was actually worth roughly $5 million—a paltry sum by the standards of his super-monied peers as a spate of government reports and books showed only much later.
After several years on the Forbes List, Trump's financial losses in the 1980s caused him to be dropped from 1990 to 1995, and reportedly obliged him to borrow from his siblings' trusts in 1993;in 2005, The New York Times referred to Trump's "verbal billions" in a skeptical article about Trump's self-reported wealth.
At the time, three individuals with direct knowledge of Trump's finances told reporter Timothy L. O'Brien that Trump's actual net worth was between $150 and $250 million, though Trump then publicly claimed a net worth of $5 to $6 billion. Claiming libel, Trump sued the reporter (and his book publisher) for $5 billion, lost the case, and then lost again on appeal; Trump refused to turn over his unredacted tax returns despite his assertion they supported his case.
During the O'Brien lawsuit Trump admitted that his sense of financial worth depends on his feelings day-to-day. Asked whether it was really true that his "net worth goes up and down based upon [his] own feelings," here's Trump's weird and bizarre response:
"Yes, even my own feelings, as to where the world is, where the world is going, and that can change rapidly from day to day. Then you have a September 11th, and you don't feel so good about yourself and you don't feel so good about the world and you don't feel so good about New York City. Then you have a year later, and the city is as hot as a pistol. Even months after that it was a different feeling. So yeah, even my own feelings affect my value to myself."
Forbes continues to be shaky re trump's self-proclaimed wealth. Here's an analysis.
https://www.forbes.com/sites/danalex.../#5e7fbc8033d9
OK. Let's see now. The part of the story Athos unsurprisingly left out stated, "No. Trump, stalking around the room, says he's actually worth far more than the $1.7 billion Forbes estimated last year. How much? "Four or five billion dollars." What about liabilities? "I always talk net," says Trump."
So Forbes says Trump is worth 1.7 billion. I'm no math expert, but I would say that's about about 1300% more than the 125 mil you claimed he was worth.
Forbes estimate of Trump wealth was published Sept . 8 . and yes it was in net worth .
https://www.forbes.com/sites/danalex.../#60914c1e2363
including in that drop in wealth is the fact that he has not collected so much as a brass farthing of his Presidential salary . He donates it all.
Yet, the America taxpayers pay for Air Force One use, motorcades, plus whatever other money he needs for his frequent weekend et al. golf fun. What's the current total for all that?Quote:
Originally Posted by tomder55
Neither you nor Forbes can verify that since Trump refuses to release his tax returns. Trump has continuously exaggerated his wealth when necessary, and low-balled it when necessary.Quote:
Originally Posted by tomder55
By now, all know (or should know) that Trump is a fraud in many ways, including financially.
and yet Forbes itemized an impressive list of assets . Are those made up too ?
He unquestioningly accepted 125 mil. Now that it goes up to 1.7’bil we suddenly need to question it. Hmm.
What are his liabilities? Assets without liabilities don't mean anything. And then there's Deutsche Bank and the Russkies.Quote:
Originally Posted by tomder55
I'll go with Forbes estimates since I have not seen any credible refuting of their work .
It's amazing we're even having this discussion. "What difference does it really make?"
It is the first legitimate income he has made, actually working for a living
Profit realized from developing and growing businesses is income. Ask all the people paying taxes on capital gains.Quote:
It is the first legitimate income he has made, actually working for a living
Real Estate development is not a legitimate job ? OK then and that would be opposed to Quid who has spent 47 years getting a government pay check ,and somehow getting rich doing it .
Quid made the comment in the last weeks that he was going to jack up the tax rates for those making over $400,000 /yr .He then said effectively that was more than he ever made in his life .
But his filings for 2017 /2018 was: $11,031,309 and: $4,580,437.
Now that makes sense since he was out of public office in those years and was cashing in . He and his wife made sure they ONLY reported their salaries as Senator/VP and her salary as a teacher during those years he was in office . Was that his only source of income ? Come on ;is that even a serious question ?
He works out of Delaware ;the state wealth travels to because of the lack of transparency . Delaware is the Cayman Islands of the continental US.
https://sunlightfoundation.com/2016/...s-in-delaware/
The Bidens have used their home state’s financial privacy laws to shield his real income from public view, by setting up S corporations. He and his wife Jill Biden called them CelticCapri Corp. and Giacoppa Corp. The REAL income of the Bidens goes into the S Corps . The declared income comes FROM the S Corp in the form of distributions . The recipient doesn’t owe Social Security or Medicare taxes on it, nor can the source of revenue be traced.
There is nothing sinister about the strategy Quid used. Arranging one’s affairs to keep taxes low should be everyone's standard practice . The only noteworthy thing about it really is that this was a tax loophole the emperor wanted to do away with while Quid was VP. ;and Quid has often called for the elimination of such loop holes while simultaneously privately supporting them. Turns out that "Middle Class Joe " is actually "Multi-millionaire Joe"
I agree.Quote:
Originally Posted by tomder55
As do I, but I must point out the numerous court settlements the dufus has had in his business dealings with both private and government contract practices, not to mention his bankruptcies, and especially the fact the dufus inherited his start in business from his father, not illegal but merely FACTUAL, while Biden built what he got from scratch.
Quite the contrast, and I don't begrudge the dufus for the benefit of his birthright at all.
lol amazing how rich they become doing public service . How is it that for 47 years his declared income was no greater than a few grand more that $400,000 and that included his wife's teaching gig .2017 his DECLARED income (from the S corp distributions so you know it was more ) was over $11 million . No ;he did not build anything . It was the quid pro quos returned . The tangible assets Trump built are easy to find .Quid ? any tangible assets are in China or UkraineQuote:
Biden built what he got from scratch.
Quote:
Originally Posted by tomder55
As ex-VP, he made a bundle writing and speechifying. As did his wife. What's so unusual/surprising?Quote:
2017 his DECLARED income (from the S corp distributions so you know it was more ) was over $11 million . No ;he did not build anything
Nonsense! Stop channeling the alt-right.Quote:
. It was the quid pro quos returned
Trump has an inheritance from Daddy, bail-out money from Daddy, huge losses from a dozen businesses he started, 5 bankruptcies from Trump gambling casinos (only Trump manages to lose money in this industry), and so forth. Trump has two successes - TV show and emoluments as president - the latter illegal. His assets he doesn't want publicized are from Putin and Deutsche Bank. Remember Putin? He's the guy Trump approves of setting bounties on killing American soldiers. Deutsche Bank? His financials are being examined as we speak. Watch out, Donald!Quote:
The tangible assets Trump built are easy to find .Quid ? any tangible assets are in China or Ukraine
Biden? You have him confused with Trump. Unless you have info re China and Ukraine. None? Ok. That must have been a typo.
Took about two minutes to find out how wrong that statement is. TDS at work again.Quote:
5 bankruptcies from Trump gambling casinos (only Trump manages to lose money in this industry)
https://www.worldcasinoindex.com/gui...-city-casinos/
The great majority are not owned by Trump.
Trump's casinos were constantly in trouble.Quote:
Originally Posted by jlisenbe
His father bought chips to bail him out, he was fined $10 million for money laundering, he went through 5 bankruptcies, he stiffed small contractors almost $9 million by refusing to pay legitimate debts, funded by "junk bonds" his financial management was so bad US banks denied him further credit.
All his casinos went bankrupt. His money losses began when gambling was king in Atlantic City and by the time the recession hit and Pennsylvania started to compete, it was too late for Trump.
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