Capt-jack Loc: Home

Did you learn that is a public school? Was giving full-auto rifles to the drug cartel in Mexico a gold standard for freedom? Is going all around the world bowing down to Dictators a gold standard too.
You're a disgrace to man kind.

Bad Bob Loc: Virginia

permafrost Loc: Minnesota

emily, the ruined world of republicans will need trusting people such as you. hang on, you will have an audiance..

n.wikipedia.org/wiki/Wealth_of_Donald_Trump#:~:text=10%20References-,Gifts%2C%20loans%2C%20and%20other%20wealth%20from%20his%20father,York%20Times%20reported%20in%202018.

Gifts, loans, and other wealth from his father
Donald Trump received at least $413 million (2018 prices) from his father's business empire, the New York Times reported in 2018.[2] The Times drew upon more than 100,000 pages of tax returns and financial records from Fred Trump's businesses and interviews with former advisers and employees, finding 295 distinct streams of revenue that Fred Trump created over five decades in order to channel his wealth to his son.[2][3]

Trust funds
Trump is the beneficiary of several trust funds set up by his father and paternal grandmother beginning in 1949 when he was three years old.[4] According to the New York Times, he "was a millionaire by age 8",[2][3] In 1976, Fred set up trust funds of $1 million ($4.5 million in 2019 dollars) for each of his five children and three grandchildren. Donald Trump received $90,000 in 1980 and $214,605 in 1981 through the fund.[4]

Alleged tax-fraud schemes
Donald Trump was also involved in a number of allegedly fraudulent tax schemes. When Fred Trump sold shares in Trump Palace condos to his son well below their purchase price, masking what could be considered a hidden donation, and benefiting from a tax write-off.[3] A lawyer for Trump denied the allegations, calling them "100 percent false, and highly defamatory". A spokesman for the New York State tax department said the agency was "vigorously pursuing all appropriate areas of investigation".[5] New York City officials also indicated they are examining the matter of Trump's alleged fraudulence.[6]

Inheritance
In 1993, when Trump took two loans totaling $30 million from his siblings, their anticipated shares of Fred's estate amounted to $3.5 million each.[7][4] Upon Fred Trump's death in 1999, his will divided $20 million after taxes among his surviving children.[4][8][9]

Acknowledged loans from his father
His immense wealth from childhood notwithstanding, Trump has sought to burnish a reputation for business acumen by minimizing the amount of money he received from his father.[10] He has acknowledged borrowing just $1 million from his father as a young adult, in a sworn deposition and repeatedly on the campaign trail, calling his loan "a very small amount of money".[11][12]

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;[7] in 2005, The New York Times referred to Trump's "verbal billions" in a skeptical article about Trump's self-reported wealth.[7] 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.[7] 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.[17]

But in September 2020, the New York Times noted that "he is personally responsible for loans and other debts totaling $421 million, with most of it coming due within four years" and no obvious way to repay them.[43]

Trump has a total of over $1 billion in debts, borrowed to finance his assets, reported Forbes in October 2020. Around $640 million or more was owed to various banks (Deutsche Bank, Professional Bank, Amboy Bank, and Investors Savings Bank) and trust organizations (Ladder Capital, Chevy Chase Trust Holdings, and the Bryn Mawr Trust Company). Around $450 million was owed to unknown creditors, due to loans related to his properties of 1290 Avenue of the Americas and 555 California Street. In addition, Trump owes over $50 million to Chicago Unit Acquisition LLC, a company he owns.

Investment performance
A 2016 analysis of Trump's business career in The Economist concluded that his performance since 1985 had been "mediocre compared with the stock market and property in New York".[47] A subsequent analysis in The Washington Post similarly noted that Trump's estimated net worth of $100 million in 1978 would have increased to $6 billion by 2016 if he had invested it in a typical retirement fund, and concluded that "Trump is a mix of braggadocio, business failures, and real success."[48]

House subpoenas and court rulings
On May 10, 2019, House Ways and Means Committee chairman Richard Neal subpoenaed the Treasury Department and the IRS for six years of Trump's tax returns. Seven days later, Treasury Secretary Steve Mnuchin refused to comply with the subpoenas.[49][50][51]

On May 20, 2019, President Trump lost an unrelated lawsuit in which he sought to stop his accounting firm, Mazars USA, from complying with a subpoena from the House Oversight Committee for various financial records.[52][53] The ruling against Trump was issued by Judge Amit Mehta of the United States District Court for the District of Columbia, who also denied the president a stay of the ruling pending any future appeal.[54]

On November 4, 2019, the 2nd U.S. Circuit Court of Appeals in New York upheld the lower court ruling.[55][56] On December 10, 2019, the 2nd U.S. Circuit Court of Appeals in New York issued a ruling which again found that the lower court had acted properly in upholding the congressional subpoenas for Trump's financial records, but this time also ordered for Deutsche Bank and Capital One to cooperate in releasing the financial records as well.[57]

On July 9, 2020, the U.S. Supreme Court ruled 7-2 that Trump cannot continue to keep his financial records secret, but ruled they should instead be given to a Manhattan District Attorney rather than the U.S House of Representatives.[58][59]

New York tax law
In May 2019, both houses of the New York State Legislature, which is based in Trump's native and business home of New York, approved a bill which allows the state's tax commissioner to release any state tax return requested by the leaders of the House Ways and Means Committee, the Senate Finance Committee or the Joint Committee on Taxation for any "specific and legitimate legislative purpose".[60][61]

Perception of wealth
According to a 2019 study in the journal Political Behavior, many voters who perceived Trump as a keen business man and the right choice for the presidency changed their opinions when given the knowledge that he inherited a lot of his money from his father.

EmilyD

Wikipedia is a joke. ANYONE can edit any article with anything they want!

Nuff said.

RRRoger

Kevin, you will never stop lying until you face your maker, or have you already sold your soul to the devil.
Trump is the Greatest Public Servant we have ever had.
But, perhaps his pride has come before his fall?

JFlorio Loc: Seminole Florida

He's really only a disgrace to "kinda a man kind".

Radiance3

======================
I am truly upset with you, calling president Trump an embarrassment. Who are the embarrassments here ? They are Barack Obama the treasonous and treacherous Kenyan, Hillary, and the CROOK Joe Biden, his son, and the whole family. Those are the embarrassments, the crooks and thieves. Most of the democrats are thieves! They stole the 2020 election thru FRAUD!

President Trump is the best president this country since president Reagan. He loves this country and the American people. He has done so much for this country for a short period of 4 years. Barack your beloved president has destroyed this country since 2009. BarackGate until now has not been accounted for the crimes he did for the American people. The BarackGate, the ObamaGate, the Deep State, all due to Barack Obama's vision to change this country for his Marxist vision.

Radiance3

=================
Of all US presidents, president Trump is the only president who has paid hundreds of millions of dollars of taxes to the Federal government, and tens of millions OF TAX DOLLARS to the State and city government.

Trump earned his money. He worked since he was young. Whereas Barack a 50% Kenyan, Hillary, the most crooked Joe Biden, his son Hunter, brother are all CROOKS. Most democrats in this 2020 election are CROOKS. They defrauded the election to win.

Barack, Hillary, Biden before working for the Federal government, they are all bankrupt, and after 8 to 50 years they became multi-millionaires of more than $150 million . Hillary is a billionaire by influence peddling, so as Barack, and Biden. THEY HAVE NO SHAME!!

Carol Kelly

Your statement,as usual, makes little sense.

Bad Bob Loc: Virginia

vernon

Cult? What do you call this shit of voting for a lazy do nothing for 47 yrs and a known taker
of bribes.I don't know if you call that cult or just queers sucking for a handout.

Bad Bob Loc: Virginia

Wildlandfirefighter

Well DUH Emily! Just what do you think happens when you declare bankruptcy and have it confirmed in court? It means your assets are sold off to pay your creditors, and generally any additional debt after this is written off. So over the course of his six bankruptcies trumps creditors, from banks to small construction businesses and Trump employees at all those casinos and other businesses he lost were left holding the bag. All those people and companies here in America that were not paid for their materials or services or loans lost.

Get it now my dear?

Oh by the way, the Trump companies are nearly all personally owned by Trump, not shareholders. Trump uses his business data FOR his personal taxes. There is really no difference. Nearly all his businesses are privately held and not publicly traded companies. So any Trump corporation bankruptcy is in effect a Trump personal bankruptcy. And as we can see from how he has run his presidency, Trump is directly involved in every business and is the final decision maker on any significant issue.

You are getting very bad information and its way past time you at least attempt to see the truth.

federally indicted mattoid

Lol, you love such a winner. He's ONLY had 6 bankruptcies. He's a freakin' financial wizard, I tell ya!

federally indicted mattoid

Thoughts and prayers.