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originally posted by: Vroomfondel
So, after all the noise and hype what we end up with is: Trump suffered losses that mitigated his tax obligation and he used every legal option available to him to lower his taxes.
Did I miss something? I don't see a problem here.
originally posted by: EnigmaChaser
originally posted by: chr0naut
a reply to: face23785
So, he's been a business success by failing spectacularly for 10 years?
Where did his money come from, his net worth of "tens of billions", if he didn't make any money?
Total net worth is different than liquid net worth.
Many billionaires don’t have billions sitting around in cash. A) because if you have cash idling it’s not working for you and B) it’s likely locked up in a business or hard asset (RE, PPE, etc.).
Said another way, many very wealthy people have their assets locked up in a business that’s worth some multiple of TTM revenue (typically) if the business is privately held. Different businesses have different multiples for what they’re worth - and those numbers ebb and flow. But that’s how they arrive at “billionaire” status.
Also, being illiquid is common for RE guys. They might have a net worth of 50-100 million but only have a few million liquid (stocks/bonds/cash). Still wealthy, but not like folks might think - it also means that come tax time they might not be paying a lot in tax. The goal is to look at broke as possible on paper and run everything through the business or LLC.
Also, to the point of taxes, this is another reason the wealthy like art/jewelry/etc. - easier to transfer that wealth undetected to the next generation. I.e. they buy a 50k painting and then give it to their kid to hang on their wall. The kid doesn’t have 50k in cold hard cash, but they do have a 50k asset that isn’t “titled” - and their net worth is still increased by 50k.
I could go on but suffice to say, this kind of thing can get complicated.
originally posted by: sligtlyskeptical
The biggest issue is the 300-400 million in personal debt. Everyone with this level of debt is denied security clearances, as there is the too high a possibility of self dealing.
originally posted by: Vroomfondel
So, after all the noise and hype what we end up with is: Trump suffered losses that mitigated his tax obligation and he used every legal option available to him to lower his taxes.
Did I miss something? I don't see a problem here.
originally posted by: muzzleflash
originally posted by: Vroomfondel
So, after all the noise and hype what we end up with is: Trump suffered losses that mitigated his tax obligation and he used every legal option available to him to lower his taxes.
Did I miss something? I don't see a problem here.
The only tax I pay is sales tax.
If the IRS creates a tax code that exempts me and reduces my burden to zero why wouldn't I utilize it?
I think we should eliminate the federal earnings tax altogether because all they do is waste it and steal it for personal gain.
We have no need for a Fed Reserve or a World Bank.
originally posted by: ManFromEurope
What I do not understand:
* Are these documents true or fake?
* Trump said, its "fake news". Did he lie?
* How many times would you estimated did he lie to you all?
* How many of those lies were of important matters, nationwide or international?
I could go on, but I guess you can see where I am leading you to - Trump denies everything, routinely, even with hard evidence in front of him.
Why would you believe him another word?
originally posted by: vonclod
originally posted by: ManFromEurope
What I do not understand:
* Are these documents true or fake?
* Trump said, its "fake news". Did he lie?
* How many times would you estimated did he lie to you all?
* How many of those lies were of important matters, nationwide or international?
I could go on, but I guess you can see where I am leading you to - Trump denies everything, routinely, even with hard evidence in front of him.
Why would you believe him another word?
Probably about 50% of the time "fake news" is just news his nibs doesn't like
originally posted by: muzzleflash
a reply to: vonclod
I don't think billionaires should exist.
We set a lower limit on income then give welfare to help.
So we also need an upper limit on income at say 100million dollars. That's far more than anyone needs and can be further reduced.
Since the rich will flee justice the policy has to be globally enforced so there's no where to hide the treasures.
originally posted by: muzzleflash
originally posted by: vonclod
originally posted by: ManFromEurope
What I do not understand:
* Are these documents true or fake?
* Trump said, its "fake news". Did he lie?
* How many times would you estimated did he lie to you all?
* How many of those lies were of important matters, nationwide or international?
I could go on, but I guess you can see where I am leading you to - Trump denies everything, routinely, even with hard evidence in front of him.
Why would you believe him another word?
Probably about 50% of the time "fake news" is just news his nibs doesn't like
100% of the time anything in the MSM is inaccurate falsehood.
originally posted by: muzzleflash
a reply to: vonclod
I don't think billionaires should exist.
We set a lower limit on income then give welfare to help.
So we also need an upper limit on income at say 100million dollars. That's far more than anyone needs and can be further reduced.
Since the rich will flee justice the policy has to be globally enforced so there's no where to hide the treasures.
originally posted by: vonclod
originally posted by: muzzleflash
originally posted by: vonclod
originally posted by: ManFromEurope
What I do not understand:
* Are these documents true or fake?
* Trump said, its "fake news". Did he lie?
* How many times would you estimated did he lie to you all?
* How many of those lies were of important matters, nationwide or international?
I could go on, but I guess you can see where I am leading you to - Trump denies everything, routinely, even with hard evidence in front of him.
Why would you believe him another word?
Probably about 50% of the time "fake news" is just news his nibs doesn't like
100% of the time anything in the MSM is inaccurate falsehood.
I hear you, there is some big time bull sh#tting going on for sure. I still think a kernel of truth at times, you just have to "un spin" it. Annnnnnnnnnnnnnnnnnnnnd a brocken clock is right twice a day
originally posted by: muzzleflash
a reply to: vonclod
Balance is the key to health and happiness.
This world is a pile of # currently because we are totally out of balance.
Economically mentally emotionally spiritually politically morally - everything is out of whack!
originally posted by: muzzleflash
originally posted by: vonclod
originally posted by: muzzleflash
originally posted by: vonclod
originally posted by: ManFromEurope
What I do not understand:
* Are these documents true or fake?
* Trump said, its "fake news". Did he lie?
* How many times would you estimated did he lie to you all?
* How many of those lies were of important matters, nationwide or international?
I could go on, but I guess you can see where I am leading you to - Trump denies everything, routinely, even with hard evidence in front of him.
Why would you believe him another word?
Probably about 50% of the time "fake news" is just news his nibs doesn't like
100% of the time anything in the MSM is inaccurate falsehood.
I hear you, there is some big time bull sh#tting going on for sure. I still think a kernel of truth at times, you just have to "un spin" it. Annnnnnnnnnnnnnnnnnnnnd a brocken clock is right twice a day
If time is a mere illusion than no clock was ever right because it's all an abstraction based entirely on our preferences.
But in that same vein every clock was always right if its observers considered it to be right.
3 o'clock simply never existed.
Or alternatively it exists everywhere simultaneously.