Trump lost close to a billion dollars and gets out of paying taxes for many years. He says he is smart but he is still out all that money and I would be surprised that over the years he save a billion dollars on taxes. How smart is he? Smart people make money and pay taxes on it.
His investors lost the billion, not Trump. His 4 bankruptcies shielded him.
If this is his personal tax return as I have been lead to believe then the loss was he’s personally. From what I can find this is a write off of his personal wealth after the 1991 bankruptcy. Back then he still held a fairly large part of the business and his part of the $1.9 billion loss is what we are taking about. I will say finding this out was not a easy as it should be.
Here’s a few notes from another site (the daily Kos), pertinent to this issue:
TripleTrumpTarget Liberal Protestant Oct 02 · 02:24:17 AM
The article states that the enormous loss was likely due to his 4 bankruptcies in the early 1990’s (there were two more in 2004, 2009), that left bondholders, investors, employees and contractors with next to nothing while he walked away with hundreds of millions of dollars.
The failures and subsequent bankruptcies preceding the almost billion dollar loss were for:
Trump Taj Mahal Associates, Atlantic City casino — 1991
Trump Castle Hotel & Casino, Atlantic City casino — 1992
Trump Plaza Associates, Atlantic City casino — 1992
Plaza Operating Partners, Manhattan hotel — 1992
Source: NBC News http://www.nbcnews.com/…
Newsweek article http://www.newsweek.com/...
So Trump is the best at something else: living off of government welfare (our tax dollars).
LOL, thanks for that one.
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