Airforceone

Donald Trump has gone bankrupt 11 times. By his own words he has amazed $10 billion and he pays zero taxes. All this on the backs of the middle class tax payers. I guess all you OPP bloggers think this is fair.
Just think
Donald $10 billion federal taxes paid----$0
Middle Class $75,000 per year taxes paid-$18,000
Some how the right wing extremist on OPP think this is fair. Just like Fox News fair and balanced.

CowboyMilt

Trump didn't do anything many other business do...bankruptcy for business purposes chapter 11 I believe is perfectly legal to restructure failing businesses...done every day somewhere!

Wolf counselor Loc: Heart of Texas

Quit whining you little broke twerp.

It's your own fault that you're destitute and stupid.

Don't envy a rich man, it just proves that you're jealous................PUNK !!!

PawneeCounty Loc: Oklahoma USA

Hey Turd Brain how do you know how much Tax Trump pays and that Washington Post report was misleading and Ancient History from 1981 tax report where he took advantage of a law passed to help support real estate businesses in the 70s and 80s to promote development.

Ricko Loc: Florida

td-once again you are letting your mouth override your rear end. You do not have any idea what Trump pays in taxes and are regurgitating false data provided by left wingers. I have given you credit for having a modicum of common sense but these false allegations/assertions on your part border on stupidity. What you need to delve into is the Clinton foundation. Why is money being funneled through Canada ? is it to hide the donor's names or to make it easy for transfers to their personal bank accounts ? Trump is filing tax returns according to the current law and is audited every year. When will be Clintons be audited ? Good Luck America !!!

Airforceone

Yup your absolutly correct and I believe in the bankruptcy laws. But do you want someone as your president that mismanaged his company.

Now do you understand that these companies go bankrupt people get screwed like vendors not paid contractors not paid and it trickles down to the small guy that gets hurt.
So going bankrupt is a true indication of the mans ability to operate a companies.

Now due to the $6 billion in corporate debt and $1 billion in personnel debt because Trump leveraged all his holdings with Hedge fund managers at a higher interest rates than actual banks he went bankrupt. how many people, small businesses got hurt through Trumps mismanagement and filing for federal protection.

I do believe in our bankruptcy laws but the way Trump made his billions is sad. Half the buildings with his name on them he does not own.

PawneeCounty Loc: Oklahoma USA

I see by your statement you don't have any ideal what you are talking about creditors do get paid under chapter 11

"This chapter of the Bankruptcy Code generally provides for reorganization, usually involving a corporation or partnership. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time. People in business or individuals can also seek relief in chapter 11".

http://www.uscourts.gov/services-forms/bankruptcy/bankruptcy-basics/chapter-11-bankruptcy-basics

Bankruptcy 1: The Trump Taj Mahal, 1991

The first bankruptcy associated with Trump was perhaps the most significant in terms of his personal finances, according to news reports at the time. He funded the construction of the $1 billion Trump Taj Mahal casino in Atlantic City, which opened in 1990. By 1991, the casino was nearly $3 billion in debt, while Trump had racked up nearly $900 million in personal liabilities, so the business decided to file for Chapter 11 reorganization, according to the New York Times. As a result, Trump gave up half his personal stake in the casino and sold his yacht and airline, according to the Washington Post.

Bankruptcy 2: Trump Plaza Hotel, 1992

Trump acquired the Plaza Hotel in New York for $390 million in 1988. By 1992, the hotel had accumulated $550 million in debt. As a result of the bankruptcy, in exchange for easier terms on which to pay off the debts, Trump relinquished a 49 percent stake in the Plaza to a total of six lenders, according to ABC News. Trump remained the hotel’s CEO, but it was merely a gesture -- he didn’t earn a salary and had no say in the hotel’s day-to-day operations, according to the New York Times.

Bankruptcy 3: Trump Hotels and Casinos Resorts, 2004

Trump Hotels and Casinos Resorts filed for bankruptcy again in 2004 when his casinos -- including the Trump Taj Mahal, Trump Marina and Trump Plaza casinos in Atlantic City and a riverboat casino in Indiana -- had accrued an estimated $1.8 billion in debt, according to the Associated Press. Trump agreed to reduce his share in the company from 47 to 27 percent in a restructuring plan, but he was still the company’s largest single shareholder and remained in charge of its operations. Trump told the Associated Press at the time that the company represented less than 1 percent of his net worth.

Bankruptcy 4: Trump Entertainment Resorts, 2009

Trump Entertainment Resorts -- formerly Trump Hotels and Casinos Resorts -- was hit hard by the 2008 economic recession and missed a $53.1 million bond interest payment in December 2008, according to ABC News. After debating with the company’s board of directors, Trump resigned as the company’s chairman and had his corporate stake in the company reduced to 10 percent. The company continued to use Trump’s name in licensing.

CowboyMilt

CowboyMilt

Ok dipstick I guess we'll just have to settle for the much over corrupt Hitlery for our next president or perhaps 3rd term for the FAKE...what's your preference? A bit late to worry about how or when NOW dipstick...I still think Trump is the only one who can pull this country out as I sure as hell don't want another 4 or 8 years of the Obama administration, but I guess you do...

RandyB Loc: lost in Florida

Envy is one of the 7 great sins. let him live it.

robmull Loc: florida

And me, [and apparently the Koch brothers {32 million?}], LOVE what the bad ads and slander, RB, are doing for Mr. Trumps numbers. MORE, MORE, MORE!!! GOOOOOOOOOOOOOOOOO TRUMP!!! Make up more lies if you want. BIG, BIG lies. It doesn't matter, the MSM will print retractions after the election [on page 18C, or 17L, or 23BB]!!!

Tyster

Typical liberal misdirection. DT's $10B is his net worth, not his income, particularly not taxable income. Typically in these valuations, stock and property are valued at current values and not what the cost basis is. In general, the net worth number is interesting but not really what you rest your hat on. Further, if it is true that Trump did end up with a $ -0- tax bill, it is only because he invested his money in areas the government wanted him to. Taxes are not assessed to raise revenue, but to manipulate the economy. That is why certain industries, equipment purchases, etc. are deductible... the government wants you to put your money in those areas. People like Trump have the disposable income to make solid impacts on the economy. Would you prefer he just keep it in a bank account and not provide jobs for thousands of people? After paying those people... what happens to their income...it is spent in the economy... and so on and so on. Not providing the tax deductions and "loopholes" wouldn't necessarily dry up investment... but it would curtail it, and what is invested may not be in the industries that the government wishes to stimulate.

To the extent that he reports all his income, deducts expenses and investments in accordance with IRS guidelines, then yes, I believe it to be fair.

Airforceone

What the heck is wrong with you disposable income by putting it in offshore accounts to avoid taxes how does that help this country.

$10 billion net worth yes but he had to earn that money somewhere so why no taxes.

If Donald Trump was investing in our economy then why won't he release his taxes. You have been having a field day with Hillary's taxes. Even Trump has made stupid comments comments about her taxes.

This guy has been screwing this country out of tax funds for years if he has nothing to hide release them let's have a look. If a democrat refused to release his tax returns you people would be screaming like hell. Al Gore released his taxes and he was very wealthy. Because he had nothing to hide

Tyster

[quote=tdsrnest]What the heck is wrong with you disposable income by putting it in offshore accounts to avoid taxes how does that help this country.

Tyster

You are showing your limited knowledge of the subject. As I tried to communicate earlier, the $10B is his net worth, not his income. Net worth is calculated by valuing his assets at Fair Market Value, not cost. This means that things like stock and property may have increased greatly since being bought... but until he sells them and an actual selling price is set, there is no tax assessed.

If his tax returns have not been released, how do you KNOW he had no tax liability? Probably the same source that claimed Romney didn't file taxes... Liberal bullshit. It is highly unlikely that he pays no taxes at all year after year. One year, here or there, is quite possible when tax investment deductions, particularly for real estate are dialed in.

At the time Gore ran in 2000 his net worth was only about $1MM to $2MM ... not really that rich. After spreading the hype of Global Warming, he rose to about $100MM, and after the sale of the entertainment business, he was valued close to $500MM. Now, that is rich.

You question why Trump hasn't released his tax returns... that question has been asked and answered. His returns under audit by the IRS... until the service reviews and accepts his returns either as filed or as modified, then it would be premature.