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crixus

Trump's "Tiny" Debt

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Trump claims that his $421 million debt is “tiny.” He apparently owes more than twice that amount (per article from just last month).

https://news.yahoo.com/trump-claims-421-million-debt-171014166.html

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For his sake, he better hope his Stop the Steal grift is an ATM.

Personally, I hope he is buried in Civil Suits, Moar Bankruptcy problems, and Criminal cases. I want his news making to be outside of the political arena.

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10 hours ago, crixus said:

 

Trump claims that his $421 million debt is “tiny.” He apparently owes more than twice that amount (per article from just last month).

https://news.yahoo.com/trump-claims-421-million-debt-171014166.html

That article is trash.  I've seen better Trump bashing on this board.

Btw, his top line debt number doesn't mean one damn thing without knowing a lot of other stuff.  If you have three rental houses, with 30% LTV, you have a lot less debt than someone who owns 30 rentals with 30% LTV.  But you're also a lot less wealthy.

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It’s all relative...  when you run up $4.5T in debt in 3.5 years, of course $421M is going to seem “tiny”.

Either way, pretty sure he’s good for the $421M, and not sure why folks even care.  Will this unhealthy obsession continue even when the man is out of office?

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3 hours ago, NorCalCoug said:

It’s all relative...  when you run up $4.5T in debt in 3.5 years, of course $421M is going to seem “tiny”.

Either way, pretty sure he’s good for the $421M, and not sure why folks even care.  Will this unhealthy obsession continue even when the man is out of office?

Yes.  Yes it will.  

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All questions will be answered when New York state is provided his tax returns next year.  I don't believe a word Trump says about his debts, especially with his past bankruptcies.  If he's as rich as he claims, he'd still be the Buffalo Bills owner today.  

Being able to grift as the president is very likely why he's trying to cling to office.

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4 hours ago, aztech said:

All questions will be answered when New York state is provided his tax returns next year.  I don't believe a word Trump says about his debts, especially with his past bankruptcies.  If he's as rich as he claims, he'd still be the Buffalo Bills owner today.  

Being able to grift as the president is very likely why he's trying to cling to office.

Individual tax returns don’t show debt owed. They really offer very little information 

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17 minutes ago, bornontheblue said:

Individual tax returns don’t show debt owed. They really offer very little information 

Based on what’s been in recent articles, I expect the deductions will be scrutinized. A lot of them sounded pretty bogus. 

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5 hours ago, Old_SD_Dude said:

Based on what’s been in recent articles, I expect the deductions will be scrutinized. A lot of them sounded pretty bogus. 

A tax return wouldn’t be very telling there either. The deduction is just a number on a form. The real data is in the CPAs workpapers and those belong to the CPA. A CPA will not give those up unless ordered to do so by a judge, who has reason to believe a crime was committed. The IRS can also ask for substantiation in an audit. 

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