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Did Donald Trump Stop Using that Carry Loss from 1995 When his 2004 Bankruptcy Erased its $916 Million Basis ?


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#1 mmoghand

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Posted 4 weeks ago

Moving on from Mr. Trump's likely failure to repay federal and state income taxes dated 1995-2003, we get to FY2004 and the possibility that Mr. Trump continued to use that nulled carry loss from 1995 AFTER the 2004 bankruptcy.

 

Plainly, testing this possibility can be done in minutes by our tax authorities. Federal IRS, plus the revenue offices of New Jersey, New York, and Connecticut -- equally capable of determining whether our new POTUS is a criminal by way of tax fraud.

 

The Trump Hotel and Casino Resorts bankruptcy in 2004 wiped out the loans and bonds (and legal descendants) that paid for Trump's casino bills as of 1995. These lenders got the write-offs, not Trump. Double-counting frauds as outlined are easy enough to prove, a quick ticket to federal penitentiary.

 

Madoff Pass

 

One limit to prosecution is the Madoff Pass. The special Get Out of Jail Free for financial industry executives.

 

We have all seen that ticket in operation.

 

Run a $100 million mortgage scam, get less time than a teenage shoplifter.

 

And we all know what would have happened if Trump was as much as 1/16th African-American.

 

Trump rolled up a claimed loss of $915, 729,293 in a period where other casinos were churning profits. $909 million of that was posted as casino losses.

 

We're not discussing the possibility of bankruptcy fraud -- don't have the casino books in hand. Yet it is still a surprise that Trump's own statements have not shaken the system sufficiently to get tax authorities at one of the four jurisdictions to check out whether Trump's his brags are accurate on what has to be tax fraud at a rate of four (4) felonies a year from FY2004 thru his own claimed FY2013.

 

That's a lot of money. We'd all be billionaires if we were allowed run multi-billion dollar bankruptcy frauds plus getting $900-million in bogus protection from personal taxes.

 

Then there's the issue of blackmail. You might think FBI does background checks. Not on Trump.



#2 Helice

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Posted 4 weeks ago

Just this morning the White House stated that (despite promises during the campaign) trump will never release his tax returns to the public.

trump had previously lied about the IRS auditing him for a long time and used this falsehood as an excuse to keep his tax information hidden. Not only has this supposed audit ever been confirmed by the IRS, it seems that now that the candidate has taken office, he will permanently refuse to disclose his financial information.  trump states that only the press in interested in seeing this information, despite the receipt of an official White House petition with 200,000+ signatures so far, requesting tax disclosure. 

 

The information contained in these tax records may be so extremely incriminating and damaging that trump dares not have it become public.  He may ear immediate impeachment, or worse -- his close links to Russia and obligations to Putin may bring on charges of treason and/or espionage.

 

We may have just placed an actual traitor in our White House.  I certainly hope he doesn't have anyone playing water games in the Lincoln Bedroom.



#3 mmoghand

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Posted 3 weeks ago

...The information contained in these tax records may be so extremely incriminating and damaging that trump dares not have it become public.  He may fear immediate impeachment, or worse -- his close links to Russia and obligations to Putin may bring on charges of treason and/or espionage.

 

We may have just placed an actual traitor in our White House.  I certainly hope he doesn't have anyone playing water games in the Lincoln Bedroom.

 

More likely than a drawn out impeachment is a simple 25th Amendment, Section 4 removal from office. That requires no hearings. The Vice President and a majority from the Cabinet vote for the removal, then the Senate ratifies with a simple majority.

 

My bet goes to August 18th, noon, 2017. A Friday.

 

As to why Vladimir Putin goes to this risk, answers lie with our ongoing Climate War. Russia comes out ahead with big increases to farmland.

 

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Most of it is marginal. But still with 10% coming up as Class A for three crop agriculture, you can measure advancement as so many Texas-sized plots of ground.

 

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One-Texas is the low end. More like Two- to Four-Texases over the whole of Russia including the far east.

 

Kamchatka Peninsula ??? Soon to be a Heaven on Earth. --- and don't forget that red Arctic Circle. Moscow sits 58-degrees north. That's 750 miles from the Arctic Circle.

 

A few billion a year to assure a Big Warm, you betcha.



#4 mmoghand

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Posted A week ago

Now this Donald J. Trump deductions fraud matter gets to IRS. There's an assigned number starting "2017-...." The same IRS that ignored Bernie Madoff's tax crimes during the Ponzi scheme era, focus back to 2000-2008.

 

Trump Hotel and Casino Resorts bankruptcy erased the loans and bonds that had paid off the casinos' 1995 net operating losses. What Trump transferred to his personal tax returns that year.

 

Here's a vetted summary:

 

eCpCGqZ.jpg

 

 

What, still obsessed over the Clinton email server?

 

All or part of $915,729,293 not enough money to get you or IRS out of bed in the morning?

 

The GO/No-Go is to look at the top pages of Trump's FY2003 and FY2004 tax returns. Ain't that a killer? (State returns are good enough for probable cause.)

 

For an understanding of the underlying societal processes, re-read or watch movie of "The Big Short." It covers the Bush & Wall Street collapse of 2007-2010. One of the pay-off lines says that "in a few years they'll be back to blaming immigrants and the poor."

 

And fascism is still organized crime on the largest scale.



#5 aus

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Posted A week ago

I can not see what you gain in impeachment of Trump on tax avoidance. Surely nearly every American President has minimised their taxes. Even if Trump goes Pence will step in. He has the same policies.



#6 Helice

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Posted A week ago

You don't see any gain in impeaching a president who has committed criminal acts...?

 

Perhaps that comes of living in a former penal colony.  :)



#7 aus

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Posted A week ago

It doses not time to bring up Australia convict past Helice. You had convicts as well. At least we did not elect a man like Trump as leader. We can get rid of our politicians  through our party system. Recently we remove a Politician who had a criminal record. But he will be replaced by his brother who was the second elected by his party. The American system is more difficult but if you get rid of Trump he will be replaced by Pence the Vice President



#8 Helice

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Posted A week ago

Oh, touchy touchy about the past, eh?

 

You just finished saying you didn't think it was worth the trouble for us to impeach a criminal president before you went into a spin about how you got rid of your own crook in office.

 

Pence as President would still be a terrible human being and bad for our country, but at least he wouldn't be an insane unpredictable megalomaniac, like Trump is.



#9 aus

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Posted 6 days ago

Helice , As a Socialist I do not think anyone should minimised their taxes but in the capitalist countries this is not illegal. The politician who was removed here  was a bankrupt when elected, This bar him from parliament here. Apparently it does not in the USA. .All  politicians are liars. We do not expect them to fulfil most of their campaign promises. The problem with Trump is he may be different.



#10 Helice

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Posted 6 days ago

The largest issue concerning trump's taxes is not any illegal deductions he may have claimed while filing.  No.

 

The largest issue is that his tax returns would reveal details about his dealings with Russia, Saudi Arabia, (and perhaps China).  His tax returns would reveal the true extant of his business empire (which is currently only guessed at) .  it would reveal much about his debt levels, and which countries and banks hold that debt.  We could find out if he is favoring governments and leaders in order to further his own personal business dealings, speed projects, and forgive his debt.  We would learn if he actually has assets to equal the net worth he has claimed to his supporters, which is strongly doubted by those in the financial community.  

 

trump's taxes could teach us a lot about his financial interests and shed light on any legislation he proposes or any sanctions he imposes (or lifts) or any WAR that he starts in order to line his immoral pockets.

 

Every candidate for President in the US has released their tax returns for the last half century... trump has falsely claimed that he can't release his because they are being audited.  That's a double falsehood, since the IRS does not forbid disclosure of returns that are being audited, and there is ample evidence that no audit is taking place despite trump's lies.

 

trump's lies are in a brand new category, different from any run-of-the-mill lies our politicians have told in the past.  This person has taken office in order to line his pockets, not to serve the American people. There is suspicion that he may be suffering the first stages of Alzheimer's disease like his father before him, which may explain why he uses his children to buffer for him in every situation he can. He embarrassingly claims high intelligence to the press (as though truly intelligent people would need to advertise that fact).  He has a third-grade command of the English language.  He does not appear to understand the US Constitution which he has been sworn to protect and defend.  he doesn't even understand that our government is divided into three EQUAL branched (legislative, executive, and judicial).  He has repeatedly expressed astonishment and resentment that the courts are able to block his executive orders because they are un-Constitutional.

 

He has chosen his official Cabinet by their appearance, as though he was casting a reality TV show.  He took no interest in their qualifications (or lack of qualifications).

 

He repeatedly abandons prepared statements to tell anyone who will listen that he won the Electoral College by a record-setting landslide (false), and that he certainly would have won the popular vote if MILLIONS of illegal immigrants hadn't voted for his opponent (ales demonstrably false).  After meeting with former President Obama during the transition, he expressed dismayed surprise that he would have to work so hard... he actually didn't realize that before he won the election.  

 

He repeatedly praises Vladimir Putin and forgives Putin his murders and illegal wars, because he said that Putin likes him and he's won't insult someone who likes hi,  There is evidence from US intelligence operatives that A) He and his staff communicated with Russian intelligence operatives during his campaign and B )Putin has possession of compromising video and audio of trump with Russian prostitutes in Moscow, committing perverted sexual acts at trump's behest, and these tapes are being used to blackmail trump into treating Russia favorably.

 

trump didn't know what the Geneva Convention is, Angela Merckel had to explain it to him.

 

trump wants to re-institute torture of prisoners, and wants to order the military to murder wives and children of terrorists.

 

He ran on the idea that he would run America like a business, and no-one realized that his 6 bankruptcies and repeated failure to pay contractors and other debtors is his idea of how to run America.

 

He wants to lower taxes for the billionaire class and cut benefits for senior citizens and poor people and minorities.

 

trump wants to dissolve NATO and hints that he may not fulfill our obligation to defend fellow member nations according to the treaty.

 

He wants to start a war in Iran, and possibly attack Iraq again,  He has stated on multiple occasions that he wishes to steal the oil fields from various Middle-Eastern countries that America invades, even though it has been explained to him that this is a war crime called "pillage".  He doesn't care, he wants to steal the oil.

 

trump insulted and hung up on your own PM, and he has unnecessarily antagonized other world leaders.

 

American intelligence agencies have leaked to the press that they are withholding sensitive information from trump, because they believe that trump will forward this information to Putin in Russia.  "The Kremlin has ears in the Situation Room", said one high-ranking operative.  This, for any other citizen, would be called Treason and Espionage and Giving Aid and Comfort to the Enemy.  For Traitor trump it's just a typical day.

 

And, of course, there's the stupid, stupid, stupid Wall he wants to build, that will cost American taxpayers billions, cause enmity between the US and Mexico, and do less than nothing to stop undocumented immigration.

 

There are so many other bad things about trump, so astonishingly many bad things, that it would be impossible to list them all in a forum post. The guy is a walking disaster.  This is a man who could order a nuclear strike on any country on earth with the same peeved abandon that he shoots out his idiotic Tweets.  trump might kill us ALL just because his over-inflated vanity is wounded.

 

He is not intelligent, he is not learned.  He is not stable, he is not predictable. He is not wise, he is not humble,. He is not a good man.  He is weak, he is a fool, he is dishonest, he is degenerate, he is warlike, he is narcissistic and authoritarian, he displays mental confusion, and he may be either mentally ill or suffering from degenerative Alzheimer's disease.

 

This administration is the most alarming disaster that America has ever faced, and I fervently hope we can survive this administration as a Constitutional Democratic Republic, without descending into tyranny, autocracy, plutocracy, kleptocracy, idiocy.

 

So, yeah.  You might say that trump is "different".

 



#11 aus

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Posted 5 days ago

Helice yeas Trump is different. But if he has all the faults you list I am sure the Republican party  will find a way to limit him. The point is that whatever happens you have a Republican government for at least four years. They control both Houses, the White house and soon the judiciary. You survived Nixon so I think you can survived Trump.



#12 stone

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Posted 4 days ago

Next four years are certainly going to be interesting. 

 

While I do think he's going to get us into some military intervention's, I'm having a difficult time figuring out where. Certainly not in Russia's sphere of influence and most likely not within China's. 

 

My guess is our next full blown intervention will be Yemen, Libya, or Somalia. 

 

Any takers? 



#13 Helice

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Posted 4 days ago

He seems to be drooling for Iran.  But any of the places you mentioned are up for grabs.  (shiver)



#14 aus

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Posted 4 days ago

Stone and Helice you might be right. Trump might intervene in the Middle East. Iran won the last war.  Saudi Arabia is most likely to assert itself on behalf of Sunnie when IS is  defeated. . I hope his advisors  and allies tell him to keep out of the Middle East



#15 mmoghand

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Posted 2 days ago

I can not see what you gain in impeachment of Trump on tax avoidance. Surely nearly every American President has minimised their taxes. Even if Trump goes Pence will step in. He has the same policies.

 

America now, since 1967, has the 25th Amendment to the Constitution. Section 4 enables removal of a president for reason of disability. With Trump that would go to any Mental Status Exam with the Vice President and Cabinet's majority vote, ratified by a majority in the Senate.

 

As to Pence, he's a Literal Bible guy. Claims to be. But he's sane.

 

Trump has been a fruitcake for decades. GOP loyalty and suppressing voting/vote counts were what got Trump his 304 Electoral College votes.

 

Follow The Money.





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