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NYT Gets Trump Tax Info 1985-1994

Discussion in 'American Politics' started by iluvatar5150, May 7, 2019.

  1. Justified112

    Justified112 Well-Known Member

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    That is simply not true. Businesses fail for a variety of reasons and successful people do fail. The reason they are successful is not because everything they touch turns to gold, but because they take risks. Risks pay off and sometimes they don't pay off. That's just how it works in real life.
     
  2. Allandavid

    Allandavid Well-Known Member

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    Really...!??

    Please show evidence of what “he actually made”...

    You can’t, can you?...because you haven’t seen his tax returns...!
     
  3. Allandavid

    Allandavid Well-Known Member

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    Ahem...

    “Gambling is good business, or at least a profitable one. According to the American Gaming Association, in 2012 the 464 commercial casinos in the U.S. served 76.1 million patrons and grossed $37.34 billion.

    Each year gaming revenues in the U.S. yield more profits than the theatrical movie industry ($10.9 billion) and the recorded music industry($7 billion) combined. Even the $22.5 billion combined revenue of the four major U.S. sports leagues is dwarfed by earnings from the commercial casinos industry.”

    The science behind casino profits
     
  4. Kylie

    Kylie Defeater of Illogic

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    So he's the guy in charge, but when it goes wrong, it's someone else's fault?

    In any case, you said that 1/3rd of these things fail. Okay, let's take it that a third of trump's ventures have failed. Here's some of his failed ventures.

    1. Trump Airlines
    In 1988, Trump took out a $245 million loan to purchase the planes and routes of Eastern Air Shuttle. Trump ultimately defaulted, surrendering ownership of the airline to his creditors.

    2. Trump beverages
    Undoubtedly intended to play on hisApprentice catchphrase, Trump Fire was trademarked in 2004, but it does not appear to have ever made it to market. Trump trademarked the name Trump Power at the same time. Both drinks were categorized as “non-alcoholic beverages containing fruit juices… namely, carbonated beverages” on their trademark applications. The only trace remaining of either are the trademark applications that were abandoned in 2006. The same goes for Trump’s American Pale Ale, the trademark for which was cancelled in 2007.

    3. Trump: The Game
    In 1988, Trump teamed up with Milton Bradley to create Trump: The Game. Despite its flashy TV ad, the game sold only 800,000 copies — less than half the 2 million units the company expected to move.

    4. Trump casinos
    Trump has filed for bankruptcy on his Atlantic City properties alone three times. First was the Trump Taj Mahal in 1991 — which was $3 billion in debt after just one year in operation.

    5. Trump magazine
    Trump launched his publication that had previously been called Trump Style and Trump World. His idea was to “[cash] in on the booming advertising market for yachts and other high-end commodities.” It didn’t survive the financial crisis, folding by 2009.

    6. Trump Mortgage
    “I think it’s a great time to start a mortgage company,” Trump famously predicted to CNBC in April 2006. “The real-estate market is going to be very strong for a long time to come.” In reality, the market had already begun deflating at that point and would collapse within a matter of months. Unsurprisingly, Trump Mortgage’s business fell far short of its projections, doing less than a third of the $3 billion in business executives predicted it would to do in its first year. According to the Washington Post, the company never paid a $298,274 judgement it owed a former employee, nor the $3,555 it owed in unpaid taxes.

    7. Trump Steaks
    When Trump filed for bankruptcy on his Atlantic City properties for the second of three times, court records showed he owed the Georgia company Buckhead Beef some $715,240.

    8. Trump’s travel site
    Like many of his business ventures, GoTrump.com was a gaudier version of an existing product — the travel booking website Travelocity, in this case. It launched in 2006 to low expectations: Henry Harteveldt of Forrester Research told the Washington Post it was a “vanity site” that wouldn’t make much money. He was right; it folded in 2007.

    9. Trump’s comms company
    Trump registered a trademark for Trumpnet under the category of “corporate telephone communication services” in 1990. Whatever it was going to be, it never got off the ground; the trademark was abandoned in 1992.

    10. Trump Tower Tampa
    After the project went belly-up in 2008 (it listed two scale models and some office furniture, worth a grand total of $3,500, as its only assets in bankruptcy court) buyers sued Trump for misleading them. He eventually settled, in some cases for as little as $11,115, with plaintiffs who had lost hundreds of thousands of dollars.

    11. Trump University
    Also known at the Trump Entrepreneur Initiative, Trump University was a series of wealth-building seminars for which students paid as much as $34,995 for mentorships that would supposedly get them access to Trump’s secrets of success. Instead of the hand-picked instructors Trump promised, the seminars were delivered by motivational speakers, often without degrees, and sometimes with criminal records. According to his FEC filings, Trump brought in $11,819 from the Trump Entrepreneur Initiative last year; he’s now the subject of two class-action lawsuits in California related to Trump University, and a third suit, for $40 million, brought by New York Attorney General Eric Schneiderman.

    12. Trump Vodka
    The liquor flopped, maybe in part because of Trump’s reputation as a teetotaler didn’t inspire a lot of confidence in his taste in hard alcohol. The trademark was abandoned in 2008, and the liquor was out of circulation by 2011.

    13. Lost future earnings from calling Mexicans rapists
    Trump kissed millions of dollars in future earnings goodbye last summer when he called Mexicans rapists and criminals in his campaign announcement speech. “Yeah, I’m losing some contracts, who cares, people – politically they’re weak and they want to be politically correct,” he said at the time.

    There's a list of thirteen failures. If that represents the third that failed, you should be able to give me 26 examples of Trump business successes.
     
    Last edited: May 9, 2019
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  5. Kylie

    Kylie Defeater of Illogic

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    Actually, it is very true. Casinos are about the biggest moneymaker you can get.

    "According to the American Gaming Association, in 2012 the 464 commercial casinos in the U.S. served 76.1 million patrons and grossed $37.34 billion. Each year gaming revenues in the U.S. yield more profits than the theatrical movie industry ($10.9 billion) and the recorded music industry($7 billion) combined. Even the $22.5 billion combined revenue of the four major U.S. sports leagues is dwarfed by earnings from the commercial casinos industry."

    Source: The science behind casino profits
     
  6. TLK Valentine

    TLK Valentine You will be who you will be. We are our choices.

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    So is booze. RIP Trump Vodka.
     
  7. TLK Valentine

    TLK Valentine You will be who you will be. We are our choices.

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    No wonder he ran on the GOP ticket...
     
  8. (° ͡ ͜ ͡ʖ ͡ °) (ᵔᴥᵔʋ)

    (° ͡ ͜ ͡ʖ ͡ °) (ᵔᴥᵔʋ) Well-Known Member Supporter

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    How many businesses have you created? Heck, 1 is more businesses than most presidents.
     
  9. Kylie

    Kylie Defeater of Illogic

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    Are you seriously using that argument?

    REALLY?
     
  10. TLK Valentine

    TLK Valentine You will be who you will be. We are our choices.

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    Same as any other ivory tower elite, one would suspect.
     
  11. mark kennedy

    mark kennedy Natura non facit saltum Supporter

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    Oh come on, you got to know those numbers aren't real. One of the things a real estate developer and speculator like Trump does is use depreciation to pad his taxes. They have a powerful lobby position and it's nearly universal. I've been following it to and I can't help but laugh, the press still can't figure this guy out.
     
  12. mark kennedy

    mark kennedy Natura non facit saltum Supporter

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    Yes we do, do you know of one that would have the job?
     
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  13. mark kennedy

    mark kennedy Natura non facit saltum Supporter

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    I'm just curious really, have you explored the Casino market that Trump was a part of? That's not a taunt, I'm being serious. I happened upon an article about that, apparently they built these ungodly expensive casinos and wanted to make sure there were no degenerate gamblers or criminal elements involved. Unfortunately when you do that in that business it drastically cuts into your profit margin.
     
  14. Justified112

    Justified112 Well-Known Member

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    You don't seriously think that Trump personally manages all of those businesses, do you? And it isn't simply about being someone else's fault. Some ideas take off and others don't. For each of his failures, he has other successes. I can't defend everything about Donald Trump, and I don't pretend that he is the model of perfect integrity. But he is not really all tha different than his peers. Warren Buffet has his own list of failures and misguided ventures. Every entrepreneur has a list of failures and successes. Same with famous inventors. Some people have a string of failures before they hit on the one big thing that makes it big and pays off.

    The problem here is that you and others like you simply want to use Trump's failures to smear him and to define him.

    How about we look into your life and take all of your mistakes, imperfections and failures and define you solely by what you have done wrong, or by what didn't work out for you in your life? How about we hold you to the same unfair standard of judgment that you erect against Trump?
     
  15. (° ͡ ͜ ͡ʖ ͡ °) (ᵔᴥᵔʋ)

    (° ͡ ͜ ͡ʖ ͡ °) (ᵔᴥᵔʋ) Well-Known Member Supporter

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    But seriously, do you know that the fact that Trump lost a billion 20 years ago is not new information. Heck, he even wrote a book about it. Its called "the art of the comeback". Google it! This is old news that the liberal media has dug up for what? To manipulate and divide because the muller report was an epic failure to get him impeached.

    Trump: The Art of the Comeback - Wikipedia
     
    Last edited: May 9, 2019
  16. Aryeh Jay

    Aryeh Jay Veteran Supporter

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    The fact that he is still and a Billionaire and the President of the United States is evidence enough.
     
  17. Justified112

    Justified112 Well-Known Member

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    Again, Casinos come and go and not all of them are successful. There are plenty of examples. Same is true in just about any business. My hometown is a national restaurant test market. If you open up a new restaurant and it can make it here, you have a good chance of making in other places around the country. Not all restaurants make it. Some do, others don't. Not because the owner was a bad businessman/woman, but because the idea just didn't take and the free market simply didn't go for it.

    There are plenty of reasons why businesses fail even casinos. Some casinos have a bigger pay out. All casinos are rigged for the house, but that doesn't mean they should have guaranteed, slam dunk success. If your payout is less, people don't show up to play. They go where the bigger payouts are. If an area is saturated with casinos, it is hard to make it. Same with any business.
     
  18. (° ͡ ͜ ͡ʖ ͡ °) (ᵔᴥᵔʋ)

    (° ͡ ͜ ͡ʖ ͡ °) (ᵔᴥᵔʋ) Well-Known Member Supporter

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    How does that make any sense? How many times have you been elected president and ask yourself what kind of loser that would make you?
     
  19. Justified112

    Justified112 Well-Known Member

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    Yes, it is good business and if EVERY casino owner in US except Trump enjoyed success, you might have a point. But there are many casinos that simply don't make it. It is not a guarantee for success.
     
  20. Aryeh Jay

    Aryeh Jay Veteran Supporter

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    So Trump is the only person to have a casino fail? Interesting…
     
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