jimnyc
05-08-2019, 01:17 AM
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New York Times Publishes Trump Tax Data Spanning Ten Years
The New York Times has published the personal tax data of President Donald Trump spanning a decade’s worth of time from long before he was a candidate for president, saying the documents show that Trump lost more than a billion dollars in the timeframe of 1985 to 1994.
While not actual tax returns, the Times says the data includes never-before-public information from the tax returns–obtained from tax transcripts that glean data from the 1040 forms Trump filed with the IRS.
Times reporters Russ Buettner and Susanne Craig wrote in the piece published Tuesday evening:
By the time his master-of-the-universe memoir ‘Trump: The Art of the Deal’ hit bookstores in 1987, Donald J. Trump was already in deep financial distress, losing tens of millions of dollars on troubled business deals, according to previously unrevealed figures from his federal income tax returns. Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. He has attributed his first run of reversals and bankruptcies to the recession that took hold in 1990. But 10 years of tax information obtained by The New York Times paints a different, and far bleaker, picture of his deal-making abilities and financial condition. The data — printouts from Mr. Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view. Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse.
The lengthy Times piece goes on to explain how these documents show Trump, over that decade, reported losses totaling $1.17 billion in just ten years.
Buettner and Craig wrote:
The numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade. In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 — more than $250 million each year — were more than double those of the nearest taxpayers in the I.R.S. information for those years. Over all, Mr. Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years. It is not known whether the I.R.S. later required changes after audits.
In response to the Times investigation, Trump critics in the media and Democrat Party piled on quickly with criticisms of the president:
https://i.imgur.com/GaJjpkj.png
https://i.imgur.com/UGbxvke.png
https://i.imgur.com/rPcC6KL.png
https://i.imgur.com/0guNgT7.png
https://i.imgur.com/zC7SIPp.png
https://i.imgur.com/qM044Vp.png
https://i.imgur.com/72k4IOv.png
https://i.imgur.com/SmRbP8F.png
https://i.imgur.com/8PnW921.png
https://i.imgur.com/tS7sjUQ.png
https://i.imgur.com/4bxwOzm.png
https://i.imgur.com/wDITvxr.png
https://i.imgur.com/Y6PmaEd.png
Rest - https://www.breitbart.com/politics/2019/05/07/new-york-times-publishes-trump-tax-data-spanning-ten-years/
New York Times Trump Tax Story Leaves Out NYC Real Estate Crash
Donald Trump must have breathed a sigh of relief as 1995 drew to a close.
The epic crash of New York City (NYC) real estate, which had battered Trump’s investments and left many of his fellow real estate investors clinging to any lifeline of solvency, was finally over. Prices of New York City real estate, which had fallen in each of the previous five years, had finally started to rise.
Apartment rental prices fell by 15 percent during the slump that had begun in 1988. The prices of co-ops and condos were down by nearly twice that much. Manhattan homes fell by 32.9 percent between 1989 and 1996, according to a study by the Furman Center for Real Estate & Urban Policy. In Chelsea and Hell’s Kitchen — that westside stretch where Trump had invested so much in a plan to turn an old railyard into a new neighborhood — home prices fell 40.4 percent.
The giant Canadian real estate company Olympia & York had declared bankruptcy. At one point, it had been the largest landlord in New York. By 1992, it had fired its bankers from J.P. Morgan and hired Felix G. Rohatyn, the guy who had saved New York City itself from the brink of bankruptcy in the 1970s. In the end, it would be swallowed up by its creditors, vanishing into the ash heap of history.
Banks were getting crushed. New Jersey’s largest savings association was seized by federal regulators after real estate losses. Wall Street was scrambling, with real-estate king Goldman Sachs suddenly finding it could not raise money from investors for real estate projects
“Even Goldman, which has dominated the business on Wall Street, is telling many of its real estate bankers to look for new jobs,” a news story noted in 1991.
Trump had made it through the worst period in New York City real estate in living memory while bigger, deeper-pocketed rivals had failed — a sigh of relief, at least.
Yet according to the New York Times story detailing glimpses at Trump’s finances from “tax transcripts” of his filings from 1985 to 1994, Trump’s personal financial losses during the New York City real estate crisis somehow mark him as a failure rather than someone who persevered through an economic story.
From the Times:
Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. He has attributed his first run of reversals and bankruptcies to the recession that took hold in 1990. But 10 years of tax information obtained by The New York Times paints a different, and far bleaker, picture of his deal-making abilities and financial condition.
Rest - https://www.breitbart.com/economy/2019/05/07/new-york-times-trump-tax-story-leaves-out-nyc-real-estate-crash/
New York Times Publishes Trump Tax Data Spanning Ten Years
The New York Times has published the personal tax data of President Donald Trump spanning a decade’s worth of time from long before he was a candidate for president, saying the documents show that Trump lost more than a billion dollars in the timeframe of 1985 to 1994.
While not actual tax returns, the Times says the data includes never-before-public information from the tax returns–obtained from tax transcripts that glean data from the 1040 forms Trump filed with the IRS.
Times reporters Russ Buettner and Susanne Craig wrote in the piece published Tuesday evening:
By the time his master-of-the-universe memoir ‘Trump: The Art of the Deal’ hit bookstores in 1987, Donald J. Trump was already in deep financial distress, losing tens of millions of dollars on troubled business deals, according to previously unrevealed figures from his federal income tax returns. Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. He has attributed his first run of reversals and bankruptcies to the recession that took hold in 1990. But 10 years of tax information obtained by The New York Times paints a different, and far bleaker, picture of his deal-making abilities and financial condition. The data — printouts from Mr. Trump’s official Internal Revenue Service tax transcripts, with the figures from his federal tax form, the 1040, for the years 1985 to 1994 — represents the fullest and most detailed look to date at the president’s taxes, information he has kept from public view. Though the information does not cover the tax years at the center of an escalating battle between the Trump administration and Congress, it traces the most tumultuous chapter in a long business career — an era of fevered acquisition and spectacular collapse.
The lengthy Times piece goes on to explain how these documents show Trump, over that decade, reported losses totaling $1.17 billion in just ten years.
Buettner and Craig wrote:
The numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade. In fact, year after year, Mr. Trump appears to have lost more money than nearly any other individual American taxpayer, The Times found when it compared his results with detailed information the I.R.S. compiles on an annual sampling of high-income earners. His core business losses in 1990 and 1991 — more than $250 million each year — were more than double those of the nearest taxpayers in the I.R.S. information for those years. Over all, Mr. Trump lost so much money that he was able to avoid paying income taxes for eight of the 10 years. It is not known whether the I.R.S. later required changes after audits.
In response to the Times investigation, Trump critics in the media and Democrat Party piled on quickly with criticisms of the president:
https://i.imgur.com/GaJjpkj.png
https://i.imgur.com/UGbxvke.png
https://i.imgur.com/rPcC6KL.png
https://i.imgur.com/0guNgT7.png
https://i.imgur.com/zC7SIPp.png
https://i.imgur.com/qM044Vp.png
https://i.imgur.com/72k4IOv.png
https://i.imgur.com/SmRbP8F.png
https://i.imgur.com/8PnW921.png
https://i.imgur.com/tS7sjUQ.png
https://i.imgur.com/4bxwOzm.png
https://i.imgur.com/wDITvxr.png
https://i.imgur.com/Y6PmaEd.png
Rest - https://www.breitbart.com/politics/2019/05/07/new-york-times-publishes-trump-tax-data-spanning-ten-years/
New York Times Trump Tax Story Leaves Out NYC Real Estate Crash
Donald Trump must have breathed a sigh of relief as 1995 drew to a close.
The epic crash of New York City (NYC) real estate, which had battered Trump’s investments and left many of his fellow real estate investors clinging to any lifeline of solvency, was finally over. Prices of New York City real estate, which had fallen in each of the previous five years, had finally started to rise.
Apartment rental prices fell by 15 percent during the slump that had begun in 1988. The prices of co-ops and condos were down by nearly twice that much. Manhattan homes fell by 32.9 percent between 1989 and 1996, according to a study by the Furman Center for Real Estate & Urban Policy. In Chelsea and Hell’s Kitchen — that westside stretch where Trump had invested so much in a plan to turn an old railyard into a new neighborhood — home prices fell 40.4 percent.
The giant Canadian real estate company Olympia & York had declared bankruptcy. At one point, it had been the largest landlord in New York. By 1992, it had fired its bankers from J.P. Morgan and hired Felix G. Rohatyn, the guy who had saved New York City itself from the brink of bankruptcy in the 1970s. In the end, it would be swallowed up by its creditors, vanishing into the ash heap of history.
Banks were getting crushed. New Jersey’s largest savings association was seized by federal regulators after real estate losses. Wall Street was scrambling, with real-estate king Goldman Sachs suddenly finding it could not raise money from investors for real estate projects
“Even Goldman, which has dominated the business on Wall Street, is telling many of its real estate bankers to look for new jobs,” a news story noted in 1991.
Trump had made it through the worst period in New York City real estate in living memory while bigger, deeper-pocketed rivals had failed — a sigh of relief, at least.
Yet according to the New York Times story detailing glimpses at Trump’s finances from “tax transcripts” of his filings from 1985 to 1994, Trump’s personal financial losses during the New York City real estate crisis somehow mark him as a failure rather than someone who persevered through an economic story.
From the Times:
Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. He has attributed his first run of reversals and bankruptcies to the recession that took hold in 1990. But 10 years of tax information obtained by The New York Times paints a different, and far bleaker, picture of his deal-making abilities and financial condition.
Rest - https://www.breitbart.com/economy/2019/05/07/new-york-times-trump-tax-story-leaves-out-nyc-real-estate-crash/