I would love dearly to suddenly have the Drumpf spawn living on food stamps, while Daddy Donnie enjoys his federal accommodations, and Malaria is finally deported as the illegal immigrant she obviously is…
What a lying, cheating beast Trump has turned out to be!
LOCK HIM UP!
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Let’s be clear about this: Trump did not know about this loophole nor did he take advantage of it…
… his accountant did. Genius that he is, Trump just signed at the bottom of the form like I do when H&R Block finishes mine.
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Hang on now! Odo was my favorite character on DS9! Do not besmirch his good name!
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I really hope there are some more releases, because you know for a fact this is not the only loophole or shady bookkeeping he’s indulged in. This return is 21 years old at this point. This is undoubtedly just one of many monetary manipulations to his personal benefit rather than that of his companies’ partners or shareholders in the last 20 years.
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Well, since this particular egregious loophole was fixed years ago, the country sure as hell doesn’t need HO (a self-proclaimed tax expert on loopholes and such) to fix the code(s) that allowed him to shirk his patriotic duty to pay his income taxes to America. There never really was any credibility to his claim that only he can fix our tax codes–with him being such the expert and all–but this revelation absolutely shoots his claim to the ground.
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This is what’s kind of mind-boggling to me and I spend a stupid amount of time arguing with people about online. Every time a new story comes up – to use one of many examples, the architect in a Clinton commercial who Trump stiffed out of a ton of money – people defend Trump, inventing all sorts of reasons why the story was probably false or distorted. I just want to scream out loud – Have you not been paying attention for thirty years? This is who Trump is and who he always has been! He’s a prick! A douchebag of the highest order! People have ALWAYS thought so, and he has ALWAYS been a scammer and a liar. It’s simply incredible to me that people seem to have woken up to this mystery man at the helm of their party and think he just came from nowhere, and any uncomplimentary stories are invented and politically motivated. No – they have always, always been there. So freaking weird and infuriating.
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Trump is a disaster waiting to happen as a Presidential candidate, but I can’t fault his accountant for taking advantage of a legal tax break. That’s the fault of Congress.
That said, the guy did lose a billion dollars while running multiple casinos while the economy was booming. That was actually difficult to do, as every other company running casinos made money that year.
The guy is like George W. Bush when it comes to running a business. Perhaps we should just start calling him Donald “Dry Well” Trump.
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I don’t think he had a billion dollars in income to lose. It was OPM - other people’s money. So, he loses investors’ money, doesn’t pay them, turns around and claims the losses as his own. He gets to pay no taxes for 18 years and the investors are left holding the bag and up to dry. I believe drumpf, as a con man, has no rivals. He is in a class of his own.
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Yeah, it called, The You Bet Your Sweet “S” Corporation.
Thing is trump would approach our national debt the way he did the income tax. If he can use nearly a billion dollars to avoid taxes, he will take that experience as a learning tool and pull similar shit with the national debt and kill our country in the process. He has alluded to what he’d do. He thinks sovereign debt can be written down like has dome with banks and investors. HE won’t get hurt but everyone else will.
This man is a demagogue
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I’m not from NY and I could tell the man was sociopath back in the 80s. I didn’t know every little terrible thing about him, but his demeanor was that of a braggart and slimy as hell. I recall when Princess Diana was killed and everyone was in shock, Trump got on the air talking about how sad it was she died because he’d always wanted to date her. When my niece announced she was participating in the Trump’s Miss USA/Universe I begged her not to do it to no avail. She and her parents were fleeced of several thousand dollars as they were required to buy their gowns, shoes, bathing suits, head shots, make-up and hair services all from the Trump organization. They grossly overcharged for the cheapest, tackiest shit and the worlds ugliest head shots. They just took complete advantage of these callow young women playing upon their dreams of stardom knowing full well that 99.9% are not going to get anywhere. And they made the families buy tickets – at $100 per person to attend only to find out their daughter didn’t even appear on the stage. I tried to warn them… but now they know. All are voting for Hillary.
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At least your niece and her family took the incident as the learning lesson it was – which shows they have far more brain cells than upwards of 40% of this nation (sadly).
Since trump is the official duly nominated candidate of the GOP he is a disaster that is happening right now. Millions will take leave of their senses and will vote for this…this…(words fail) …P.O.S. Around 40% is my guess.
I am glad that TPM published this article about the tax loophole that Trump may have used to benefit himself for all of these years. It helps put the puzzle pieces together.
If you read the Supreme Court Case discussed in the article, Gitlitz v. Commissioner of Internal Revenue, 531 U.S. 206 (2001), Justice Breyer highlights in his dissent that this loophole was created as part of Reagan’s Tax Reform Act of 1984. He explains in Footnote 10, “In 1984, however, Congress amended the Code to provide that § 108 be applied “at the corporate level.” Tax Reform Act of 1984, Pub. L. 98-369, § 721(b), 98 Stat. 966. It is as a direct result of this amendment that the solvent petitioners in this case are able to benefit from § 108’s exclusion.”
So, it was Reagan era tax policies that created the loophole. The IRS and Several courts of appeal had invalidated the use of the loophole in the 1990s, though one other court of appeal allowed it, but then the Supreme Court (in a Thomas opinion) went against the balance of the precedent and acknowledged the loophole in 2001. Congress almost immediately closed it in 2002.
Seems like the context is important here. A 1984 mistake was taken advantage of by a number of ultra-high net worth individuals, it was challenged by the government (and, according to Breyer, there is legislative history from the 90’s that Congress disagreed with the use of the loophole), and almost immediately upon the Supreme Court coming down on the other side, Congress fixed it (with Hillary voting in favor). I think Hillary is exactly right in calling Trump’s proposals “Trumped up Trickle Down Economics” because it these unintended granular nuances that folks like him use to shirk their civic responsibilities and take 10+ years to discover and fix that he would introduce into the equation. Everything about him is “Trump First,” and we will not understand the full damage that he would bring for a decade or more.
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I am not dyslexic but my mind refuses to read that name as anything other than Bobby Hill 
What sits well with his supporters is that they feel elated to vote for him. They have been HIS for months.
The rest of us?
Ask Chris Mathews. He’s anointed Mike Pence (who may have out-lied even Trump at the First Debate) as The Future. And he is on the ticket with Trump. Very confusing, these “pundits”.
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Oedipus Tex’s Gov. Lite was Bob Bullock.
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Too bad your niece had to learn the hard way and ignored your advice, but she’s wiser for it, but it is as @tiowally says. He’s from Queens, not Manhattan, and he was never going to break into NY society so he became very resentful. All the gold plated apartments and buildings and trump-branded merchandise were never going to change Manhattanites perception of him and he knew it. It was this striving which led the Manhattan-based Vanity Fair to talk about the “short-fingered vulgarian.” Think of it this way. Jackie Onassis was the quintessential Manhattanite, sophisticated, elegant, well read, etc. Now think trump. No, don’t.
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