POLITICS President Trump: 100+ Mornings After (Term 1 Complete)

The reason I've always said he's not a billionaire is not because he doesn't have a billion $ of assets, but because he's got hundreds of millions of $ of debt to finance it.

 

I haven't looked at the returns but I doubt he is sitting around the table April 14th with piles of receipts completing his returns. I bet he couldn't tell you what is in them.

 

Someone asked, if you inflate your loses to not pay taxes, but in loan documents inflate your assets, isn't that fraud?

 

Ethically - yes.

Legally - not sure if tax fraud or not.

 

I was thinking more on the lending side. Overstating your assets for a loan application is illegal.

 

that still makes him a net billionaire

 

Tax losses have nothing to do with asset prices

 

So, if I have $1 million dollar home and I have a $950,000 mortgage, am I a millionaire?

 

that’s not the case with Trump at all. The real lesson here is that real estate being taxed differently then everything else is bullshit.

 

If you have $1B in assets and $300M in liabilities you are not a billionaire.

 

That is true.

 

no, but if you have $5 billion in assets and $2 billion in liabilities you are a billionaire.

 

Can you explain it for me, as I am serious, I cannot read this shit without my eyes crossing. I would love a quick breakdown of it in language that I can understand, and I know you are a finance guy.

 

You can write off deprecation and interest expense for real estate assets for tax purposes. This doesn’t mean he’s not rich, it means he’s using the tax system to pay less in taxes.

 

Is he basically saying "Ehh, Trump Tower is now only worth $1.37, not $1.2 Billion" ? (exaggeration for effect) Or does it require an outside 3rd party to make valuations on real estate?

Would be interesting to see if his tax value claims line up with the claims he makes on it when he goes to get a loan.

 

Overstating your income in a loan application, while simultaneously understating them to the IRS, in order to have your losses to gains ratio increased, for the same period of time, I believe, does, and creates a type of lending fraud.

 

This is in The NY Times article. Wow

Mr. Trump’s elaborate dance and defiance have only stoked suspicion about what secrets might lie hidden in his taxes. Is there a financial clue to his deference to Russia and its president, Vladimir V. Putin?

 

no. It’s a factor of what he paid for the property. There also seems to be a big increase in expenses of properties he just bought that might be due to him improving the properties or other capital expenditures. This is why amazon doesn’t pay taxes. The fact is we really don’t know much more today than yesterday

 

there is no evidence he did either. I’m sure he provided his corporate tax returns for any loan application. The banks are smarter than The NY Times