Mainecat Posted September 28, 2020 Share Posted September 28, 2020 Trump: it’s all fake news..... Forbes - Is President Trump actually broke? Is Trump Broke? New Report Details Decades Of President’s Taxes And Financial Failures However, it could be that the President’s most perilous financial circumstances are ahead of him. The long running audit of the Trump Organization’s federal returns, including a $72.9 million refund, remains unresolved. Depending on the final decision of the Internal Revenue Service, a reversal the large refund, plus interest and potential penalties, could result in the President and his businesses owing the federal government over $100 million. The Trump Organization also faces looming debt payments on Trump properties that will undoubtedly place financial pressure on the President and his businesses. The Times reports that the President appears to be personally on the hook for over $421 million of loans made by third-parties to Trump entities. There is also a $100 million mortgage due on the iconic Trump Tower. The financial picture of Trump painted by The New York Times, based the President’s own tax filings, poses deeply troubling questions about the President’s past and future. When running for President, Trump held out the story of his financial success as an example of how he could “help make America great again.” But the reality then, like perhaps now, is that the President’s financial failures outweighed his successes, making the narrative he told the country grossly misleading. One can only conclude that he knew his tax returns would reveal such truths, and that is why he has been adamant about refusing to release them. Equally as troubling are the questions about the President’s financial future. With massive debts coming due, and the prospect of a substantial federal tax bill looming, Trump may once again be facing financial bankruptcy. If Trump should win the reelection in November, some of his major bills will come due while he is in office, also raising the prospect of a financially beleaguered President distracted by his own potentially ruinous finances. The President may not be broke, at least not completely. But one thing is certain, all of his financial losses are no longer a secret… and soon they might result in his biggest loss of all — on November 3rd. https://www.forbes.com/sites/sethcohen/2020/09/28/is-trump-broke-new-report-details-decades-of-presidents-taxes-and-financial-failures/ Quote Link to comment Share on other sites More sharing options...
Angry ginger Posted September 28, 2020 Share Posted September 28, 2020 SMH at the obsession. oh knows a guy with RE is leveraged- shocker Quote Link to comment Share on other sites More sharing options...
Gold Member Stephen Hawking Posted September 28, 2020 Gold Member Share Posted September 28, 2020 29 minutes ago, Angry ginger said: SMH at the obsession. oh knows a guy with RE is leveraged- shocker I think the cheese has finally slipped off his cracker AND down to the floor. Quote Link to comment Share on other sites More sharing options...
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