What does a TRUMP presidency look like?

[Valmy]

He paid that much?

[Grey Fox]

Really milked that billion from the 80s, eh.

[Syt]

[Razgovory]

How can Trump be so rich if he reports losses every year?

[DGuller]

How can Trump be so rich if he reports losses every year?

He's rich because he doesn't give away his money in taxes.

[alfred russel]

How can Trump be so rich if he reports losses every year?

It is Trump, so I'm sure fraud or some impropriety is involved, but it could be possible.

Suppose you put your life savings into the purchase of a building and buy it for $1 million. It was a very savvy deal--the next year it is valued at $1 billion - you are now a billionaire!!!

You don't owe taxes on that increase until you sell the building so your tax liability is $0.

But without selling the building, you don't have any cash! To get cash, you borrow from a bank. Lets say the bank lends you $200 million with your building as collateral, and the terms are that you have to pay it back with a balloon payment of $260 million in 15 years and no interest payments in the mean time.

You now have $200 million of cash! Buy your private jet, a yacht, a mansion! And you haven't earned one cent on your tax returns!

There are reasons this isn't really practical when you get into the details and if you only want to pay $750.

[crazy canuck]

How can Trump be so rich if he reports losses every year?

He's rich because he doesn't give away his money in taxes.

The correct answer, as Raz implied, is he is not rich.  He has squandered all the wealth his father gave him.  He got a gift from the gods when he was cast as a successful businessman in the Apprentice and that generated a lot of income for him both in direct revenue from his 50% deal and the subsequent deals he made to licence his name on the back of the notoriety he gained from the Apprentice.

The Times reports that when he announced his candidacy for President that revenue was drying up and he was in financial trouble.  You see, he took the money the Apprentice had generated for him and invested it in money losing golf courses.

He is in bad financial shape right now.  If it wasn't for his presidency generating income for places his resort in Florida he would be bankrupt.

[Grey Fox]

Allegedly, he's got close a billion of personal loans coming up in the next 4 years & no real revenues.

Trump lost, between 1985 to 1994, 1.17 billion according to the NYTimes. He milked those loses for 8 years.

[The Brain]

I thought a moran and his money was for life?

[jimmy olsen]

How can Trump be so rich if he reports losses every year?

He's rich because he doesn't give away his money in taxes.

The correct answer, as Raz implied, is he is not rich.  He has squandered all the wealth his father gave him.  He got a gift from the gods when he was cast as a successful businessman in the Apprentice and that generated a lot of income for him both in direct revenue from his 50% deal and the subsequent deals he made to licence his name on the back of the notoriety he gained from the Apprentice.

The Times reports that when he announced his candidacy for President that revenue was drying up and he was in financial trouble.  You see, he took the money the Apprentice had generated for him and invested it in money losing golf courses.

He is in bad financial shape right now.  If it wasn't for his presidency generating income for places his resort in Florida he would be bankrupt.

https://twitter.com/CaslerNoel/status/1310569820979683328

Mark Burnett knew Trump was broke, production had to rent office furniture to make him look wealthy on season one of 'Apprentice' because Trump Org office was so ratty. All the kids would ask for per diems on set, not your typical billionaire moves.

[Syt]

MAD Magazine in 1992.

[viper37]

How can Trump be so rich if he reports losses every year?

He self marketed himself and rarely pays his debts.

[Sheilbh]

Just reading the NYT on the debate and this feels like a microcosm of the last four years:

In his first interview since the chaotic and often incoherent spectactle - in which a pugilistic Mr. Trump relentlessly interrupted opponent and moderator alike - Mr. Wallace conceded that he had been slow to recognize that the president was not going to cease flouting the debate's rules.

[Tamas]

Lol what an unexpected shock that was indeed.

[The Minsky Moment]

Rules are for suckers and chumps.