The Trump Presidency Ocho :: It Can't Go On. A.K.A. We All Gotta Duck / When The Shit Hits the Fan

Discussion in 'Politics & Current Events' started by crazypete13, Sep 28, 2018.

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  1. Cascarino's Pizzeria

    Apr 29, 2001
    New Jersey, USA
    A funny - or not - anecdote from work the day of the NFL draft. Talking with a coworker & his uncle about who the NY Giants might pick as their #1. Both are big Giants fans. They obviously needed a new QB to take over for Eli. I said "I've seen Haskins at OSU. Big kid, big arm." As a Skins fan I figured he'd never be around by the mid 1st round. So I say "Think the Giants will take him?" Coworker says "Pfft...are you kidding? Giants are never taking a black QB"

    Several hours later he was 100% correct. :eek:
     
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  2. Matt in the Hat

    Matt in the Hat Moderator
    Staff Member

    Sep 21, 2002
    Brooklyn
    Club:
    New York Red Bulls
    Nat'l Team:
    United States
    It's hard to pass on an exact clone of Eli, though
     
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  3. Deep Wilcox

    Deep Wilcox BigSoccer Supporter

    Jun 5, 2007
    Club:
    Arsenal FC
    Nat'l Team:
    United States
    The guy loses enormous amounts of money, but is able to maintain a lavish lifestyle. The money comes from somewhere. Its time for the country to find out. The Republicans are engaging in something very close to aiding and abetting here.
     
  4. Matt in the Hat

    Matt in the Hat Moderator
    Staff Member

    Sep 21, 2002
    Brooklyn
    Club:
    New York Red Bulls
    Nat'l Team:
    United States
    Are we talking about this now?

    https://www.nytimes.com/interactive...XArkk055TIyI72uMt_ehz9til7Ci-CSGlWq8yQovIvbL0

    What a strange article to focus on 1985 to 1994 and not the last quarter century.
     
  5. Cascarino's Pizzeria

    Apr 29, 2001
    New Jersey, USA
    IMO Mitch, Lindsey, Grassley etc. know just how deeply entangled TrumpCo and several other Republicans are with the Russians. Their desperate actions are all about the survival of the Republican party.
     
  6. The Jitty Slitter

    The Jitty Slitter Moderator
    Staff Member

    Bayern München
    Germany
    Jul 23, 2004
    Fascist Hellscape
    Club:
    FC Sankt Pauli
    Nat'l Team:
    Belgium
    it is always about the grift IMO

     
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  7. Cascarino's Pizzeria

    Apr 29, 2001
    New Jersey, USA
    #8682 Cascarino's Pizzeria, May 8, 2019
    Last edited: May 8, 2019
    Oh I'm sure there's more losses for the time he was a "business tycoon" up to and after transforming into The Apprentice and just branding things with the Trump name. We don't even know when the Russian $ pipeline started.

    As far as paying taxes, that's for little people:

    The Times published one page from each of Trump’s 1995 New York, New Jersey, and Connecticut personal tax returns, on which Trump claimed a staggering $916 million of net operating losses (NOLs), which he transferred from his Federal tax return for the year. NOLs arise when a business has deductible expenses greater than its gross income for the year. For a business organized as a partnership or a limited liability company (LLC), the business owner can deduct the net operating losses against other income to lower his taxes. If those deductions wipe out taxable income entirely, his tax bill is zero. And if the NOLs exceed other income, the business owner can carry the unused losses forward 15 years (and back three years), until used up.

    The Times concluded that Trump could have used his cache of losses in 1995 to wipe out more than $50 million of other income every year from 1992 through 2010. Additional losses in years after 1995 could have wiped out even more ($16 million of new losses arose in 1995, with the balance of the losses carried over from prior years)...


    And there's no way he wants a simplified tax code:

    In 1986, Congress enacted laws to prevent investors who are not actively involved in a business from deducting losses and expenses attributable to that business against their income from other activities. Congress also added “at-risk” rules, which prevent a taxpayer from deducting losses in excess of his actual economic investment in an activity (i.e., his out-of-pocket). Those laws wiped out a lucrative tax shelter business used by doctors, dentists, lawyers and other high-income taxpayers.

    But Congress largely exempted real estate developers and professionals from these rules. They continue to deduct their business losses against all of their income, both passive and active. And they are not subject to the at-risk rules. The result: real estate professionals can use losses against non-real estate income, both in the year the losses arise and in some earlier and subsequent years. This means that Trump’s NOLs can shelter not only any real estate gains, but also income from reality TV, Trump-branded products, books, and speaking, from tax.

    Without seeing more of Trump’s tax returns, we cannot tell how much of his losses are attributable to poor economic results, favorable tax rules, or tax evasion. But we can tell that something is seriously broken in our tax laws.

    https://www.taxpolicycenter.org/taxvox/does-donald-trump-pay-taxes-ever
     
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  8. Matt in the Hat

    Matt in the Hat Moderator
    Staff Member

    Sep 21, 2002
    Brooklyn
    Club:
    New York Red Bulls
    Nat'l Team:
    United States
    #8683 Matt in the Hat, May 8, 2019
    Last edited: May 8, 2019
    Everyone made money in the stock market from 1986 to 1988. It was a blow fueled joyride. Trump has been a public figure for 4 decades. This part has been known for a long time.
     
  9. The Jitty Slitter

    The Jitty Slitter Moderator
    Staff Member

    Bayern München
    Germany
    Jul 23, 2004
    Fascist Hellscape
    Club:
    FC Sankt Pauli
    Nat'l Team:
    Belgium
    Well if you mean it was cowboy land with lashings of insider trading then yes :ROFLMAO:

    in NZ our stock market collapsed in 1987 - at the peak mania we were all playing stock games at school and lots of kids in my class had shares (@13-14 years old)

    If you had a few 100 you were literally buying stocks with it so we were the very last mugs on board

    I lost my entire savings of $500 or whatever when the NZ Forest Products subsidiary i was big in (essentially a speculation vehicle), bought loads of shares in the parent company using borrowed money from the bank (a real business) - obviously an absurd and fraudulent trade to jack up the parent share price.

    within weeks the directors had sold all their shares.

    then the market dropped and they were instantly insolvent,

    this happened x100 across the index and bankrupted the Bank of NZ :p
     
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  10. Cascarino's Pizzeria

    Apr 29, 2001
    New Jersey, USA
    So you were a young Gordon Emu...so to speak :D
     
  11. The Jitty Slitter

    The Jitty Slitter Moderator
    Staff Member

    Bayern München
    Germany
    Jul 23, 2004
    Fascist Hellscape
    Club:
    FC Sankt Pauli
    Nat'l Team:
    Belgium
    it was truly a bizarre time

    We had these "investment banks" but all they were was thin companies that had borrowed lots from real banks and invested 100% of it in the sharemarket.

    Based on the gains in the bull market, they could keep increasing their leverage

    what could go wrong?
     
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  12. HerthaBerwyn

    HerthaBerwyn Member+

    May 24, 2003
    Chicago
    Its just like the saga of Alfred Krupp on the Island of Capri. This is a really great story. Its a cautionary tale for all these 'great Christian men'.

    http://www.naplesldm.com/krupp.php

    #70.jpg

    The boys walked this before they 'walked the plank' at Alfred Krupps Boyquarium.
     
  13. superdave

    superdave Member+

    Jul 14, 1999
    VB, VA
    Club:
    DC United
    Nat'l Team:
    United States
  14. soccernutter

    soccernutter Moderator
    Staff Member

    Tottenham Hotspur
    Aug 22, 2001
    Near the mountains.
    Club:
    Tottenham Hotspur FC
    Nat'l Team:
    United States
    I would add Howard Stern to that list, as well.
     
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  15. dapip

    dapip Member+

    Sep 5, 2003
    South Florida
    Club:
    Millonarios Bogota
    Nat'l Team:
    Colombia
  16. Cascarino's Pizzeria

    Apr 29, 2001
    New Jersey, USA
    Yeah, like the timeframe matters with Trump
     
  17. Cascarino's Pizzeria

    Apr 29, 2001
    New Jersey, USA
    Haskins is closer to Eli than Jones IMO & played in a tougher conference as Eli did. Oh well, their loss.
     
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  18. Deep Wilcox

    Deep Wilcox BigSoccer Supporter

    Jun 5, 2007
    Club:
    Arsenal FC
    Nat'l Team:
    United States
    What I was trying to say:

    Alexandria Ocasio-Cortez

    @AOC
    Wouldn’t you think someone who personally lost over a BILLION dollars (“more than nearly any other taxpayer in America”) be vulnerable to shady activity to get out of that hole?

    If they became the most powerful public servant in America, wouldn’t you want to see their taxes?
     
  19. Yoshou

    Yoshou Fan of the CCL Champ

    May 12, 2009
    Seattle
    Club:
    Seattle Sounders
    Nat'l Team:
    United States
    Trump already had the reputation as a savvy business man before Schwartz and Burnett.. That's how he got the show...Trump was everywhere in the 80s and 90s selling best selling books and schlepping his self promotion (while driving multiple businesses into the ground).

    It's fair to say Schwartz and Burnett amplified him out of the "business" pop culture and into mainstream pop culture and probably the White House, but Trump was selling himself as a successful businessman for decades before Schwartz and Burnett got their hands on him.
     
  20. Q*bert Jones III

    Q*bert Jones III The People's Poet

    Feb 12, 2005
    Woodstock, NY
    Club:
    DC United
    Born on third base and claims he hit a double.
     
  21. superdave

    superdave Member+

    Jul 14, 1999
    VB, VA
    Club:
    DC United
    Nat'l Team:
    United States
    Yoshou you need to google Tony Schwartz.
     
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  22. Kazuma

    Kazuma Member+

    Chelsea
    Jul 30, 2007
    Detroit
    Club:
    Chelsea FC
    I didn't hear of Trump until I was 11 and I read about him in a Spider-Man comic of all things. Trump was pretty much a has-been until Burnett gave him his show.

    And Schwartz was the guy who made Trump big before Burnett, he ghost wrote Art of the Deal. Trump was pretty much small time until Tony Schwartz wrote that book.
     
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  23. chaski

    chaski Moderator
    Staff Member

    Mar 20, 2000
    redacted
    Club:
    Lisburn Distillery FC
    Nat'l Team:
    Turks and Caicos Islands
    And claims that he stole third base.
     
  24. KCFutbol

    KCFutbol Moderator
    Staff Member

    Jun 14, 2001
    Overland Park, KS
    Club:
    Kansas City Wizards
    Nat'l Team:
    United States
     
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