Breaking: NYT Gets Ahold of 10 years of Trump Tax Transcripts

Apr 2016
720
491
Florida
#1
Taken directly from his tax filings for ten years, up to 1994, it just doesn't look good and explains why he's so scared we'll see later years.

Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses

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 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.
 
Nov 2012
10,582
8,740
nirvana
#2
Taken directly from his tax filings for ten years, up to 1994, it just doesn't look good and explains why he's so scared we'll see later years.

Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses

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 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.
This is going to leave a mark.

A Deal Maker in Financial Distress

Every year from 1985 through 1994, Donald J. Trump reported a negative adjusted gross income on his tax returns. That number grew as new losses were combined with those from prior years. The New York Times previously found that Mr. Trump declared an adjusted gross income in 1995 of negative $915.7 million.

Rich Harris and Andrew Rossback/
The New York Times

About two weeks before the stock market crash of Oct. 19, 1987, he spent $29 million on a 282-foot yacht. Months later he bought the Plaza Hotel for $407 million. He recorded $42.2 million in core business losses for 1987, and $30.4 million for 1988.

In 1989, he bought a shuttle operation from Eastern Airlines for $365 million. It never made a profit, and Mr. Trump would soon pump in more than $7 million a month of his dwindling cash to keep it airborne, New Jersey casino regulators, who closely monitored his finances in those years, found.

Mr. Trump’s business losses that year soared to $181.7 million.

Then came the Trump Taj Mahal Hotel and Casino, which opened in April 1990 saddled with more than $800 million in debt, most at very high interest rates. It did not generate enough revenue to cover that debt, and sucked revenue from his other casinos, Trump’s Castle and Trump Plaza, pulling them deep into the red.

As a result, 1990 and 1991 represented the worst years of the period reviewed by The Times, with combined losses of $517.6 million. And over the next three years, as Mr. Trump turned over properties to his lenders to stave off bankruptcy, his core businesses lost an additional $286.9 million.

The 10-year total: $1.17 billion in losses.

Mr. Trump was able to lose all that money without facing the usual consequences — such as a steep drop in his standard of living — in part because most of it belonged to others, to the banks and bond investors who had supplied the cash to fuel his acquisitions. And as The Times’s earlier investigation showed, Mr. Trump secretly leaned on his father’s wealth to continue living like a winner and to stage a comeback.
 
Last edited:
Dec 2015
15,918
14,813
Arizona
#3
Taken directly from his tax filings for ten years, up to 1994, it just doesn't look good and explains why he's so scared we'll see later years.

Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses

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 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.
I wonder how much the Times paid for those tax transcripts! Somebody just won the lottery. LOL
 
Apr 2013
37,122
25,325
La La Land North
#4
Apparently the way they got the data is by looking at some forms from the tax statements that are in the public domain. Then they compared them to other reports that list partial returns but without identifying whose returns the forms came from. There was enough overlap of info that they were able to pick out which ones of the supposedly anonymous forms were Trumps. This is from a series of tweets from NYT reporters who worked on the project.
 
Likes: Howey
Jun 2018
5,308
1,236
South Dakota
#6
The Slimes, desperate for revenue is again showing how to grasp at any old straw in reckless abandon. Yawn.
 
Jul 2014
14,239
8,654
massachusetts
#7
The Slimes, desperate for revenue is again showing how to grasp at any old straw in reckless abandon. Yawn.
One of the biggest stories in the media right now is Trump's Tax Returns.
Reporters have got their hands on Trump's Tax Returns.
What do you think they should do with them?
 
Jul 2018
3,979
1,804
Trump World! Where the circus is always in town.
#8
Guys, there is not a Trumpet on the planet that will either believe it or not rationalize it away.

This is not fact vs fiction or like normal times in any way.

This is cult. Orange idol worship.
 
Last edited:
May 2019
172
27
Oklahoma
#10
Awesome. When leftists are physically unable to attack Trump's Presidency, and reduced to Ad Hominems and Red Herrings, that means they are beaten.