This would be the only cheerful news I've heard in a week. I feel bad that I don't have cable.
I did see the other post. I put this here to be difficult.
My prediction: He's nowhere near as rich as he claims.
2005 1040. WH already trying to be out in front*. 1040 generally not interesting other than gross amounts. Probably a bit of a letdown.
They say $38M taxes on $150M. Guy who has the info is David Cay Johnston who I think wrote abook.
Do people have to report dead hookers on their 1040s?
Would 4.last be scandalous? It doesn't seem so to me.
Writing a book is correlated with lots of bad things.
I believe the whole financial/tax picture will be pieced together in bits over time. Probably not in a way that will interest the public.
I don't think any scandal or sensation. They probably have real info, but overhyped a bit. (Especially if they do not have the schedules showing the actual sources.)
Yessss....lower our expectations...I like it as a plot device, Stormcrow.
By the Piketty shortcut, 150m revenue = 3b wealth, no? Maybe less since 2005 ought to have been a high-return year for real estate.
I'm actually in a car at the moment, so please fill me in.
Twitter is plotzing over Maddow's lengthy scene-setting.
At this point I'd rather she just start reading numbers.
Maybe ogged's thread has a more scandalous reveal?
I guess the anticlimax has presented itself?
Looking like, yeah. They have the two summary pages from 2005. All the business losses would have brought his effective rate to 5%, but the AMT apparently kicked in to bring it up to 25%. Not sure yet what if anything it says about charity. No receipts for urine stain remover in Moscow CVSs.
Now up to 4 people I follow on Twitter speculating Trumpland leaked these to deflate the balloon.
I think its a fair assumption this leak came from Trumpland.
2005 was probably his biggest year of the decade, when he sold two properties. It would certainly be the one to leak to demonstrate that he 1) has made money and 2) paid some taxes on it. But this should not be taken as a typical year.... rather, it is most likely his peak year. Unless you think being a game show host nets more that $150 million a year.
His (or his party's) tax proposals call for eliminating AMT, so he wants to give himself an 80%/$30M tax cut, if you use 2005 as a baseline.
Yes. That's a very good way to put it.
I think Trump threw some chum in the water to attract press attention away from the AHCA debacle. Judging by the way MSNBC hyped it, the rest of the village fish won't be able to even think about anything else for days.
About the only interesting thing in that tax return is that it appears to show him using up the last of his 1995 loss tax credit. Which makes it all the more curious how much he's resisted releasing more recent tax returns. I mean, other than that rules don't apply to him, obviously
Offering 6/1 on that it's a total non-event. He will be slightly less rich than he claims, but still stupid rich. Most of his money will be offshore anyway unless his accountants are all incompetent.
unless his accountants are all incompetent
And this would be surprising?
Of course it would be surprising, he explicitly said he only hires accountants who wear yarmulkes.
And this would be surprising?
I'd be mildly surprised because if they were I'd have expected him to have gone down years ago. Behind most mediaeval potentates there's a Chamberlain or a Treasurer trying to do a good job of steering the ship. The potentates who end up with knives in their backs or being remembered as monsters are the ones who don't let those guys have the space to get on with it because they're too taken up playing games with their courtiers to stay out of the Chamberlain's face. DJT, while he was playing at buying and selling buildings and being a TV personality, didn't make much money, but he didn't loose much either, and he managed to walk away from several corporate bankruptcies. But this was before he met Bannon, of course.
This theory makes sense to me potentially.
Donald Trump married Melania Knaus in 2005. She had been a permanent resident since 2001. She became a US citizen in 2006. Part of the US naturalization checklist the last 5 years tax returns OR the last 3 years tax returns if married to a US citizen, which would be in Melania's case:
2003 single filing... 2004 single filing... 2005 joint filing with DJT
Melania's citizenship depended on a squeaky clean join tax filing in 2005. This is why Trump, yesterday, leaked his own (partial) 2005 1040 form. It was the only year he was forced to play by the rules.
This will come out slowly piece-by-piece. David Cay Johnston is a legit financial reporter but my observation during the campaign was that he did not have a very nuanced take on the actual politics of any of this. (although he did allow this was a distinct possibility right up front.)
he explicitly said he only hires accountants who wear yarmulkes.
One wants an observant accountant, obviously.
I actually got into an email argument with DCJ one time in 2007, he had a story in the Times that seemed to misunderstand some basic tax argument, I think tax credit vs. tax deduction, so I sent a brief note not expecting to hear anything. He wrote back and said I was wrong, I wrote back and quoted the part that I thought was wrong, and he admitted the wording was unclear. I had no idea at the time he was actually a tax expert, I assumed he was some reporter who would make such a mistake, so credit to him for engaging.
I do feel a little pleasure that his monkeying around creating paper losses did not apparently save him from the Alternative Minimum Tax working as intended. But maybe there's a reason that never came up in October; if 32 is right maybe there's something else he could have done that year but didn't to pay zero taxes.
I'd be mildly surprised because if they were I'd have expected him to have gone down years ago. Behind most mediaeval potentates there's a Chamberlain or a Treasurer trying to do a good job of steering the ship
The people steering the ship of the Trump Foundation didn't exactly do a very good job.
In terms of staying on the right side of the law anyway. They did a good job of enriching Donald Trump.
The Thuggee ones can be tricky.
It's astonishing how many comments can be written in the time it takes to spellcheck 'thuggee'.
37: Yes, the Foundation seemed like an afterthought. Maybe because the sums involved were generally not all that material compared to other things in Trump Org. Sort of a "petty corruption" account. For instance the absolutely specious attempt to cover tracks in the bribe to the Florida AG (which would have loomed large for any other candidate...have I mentioned recently that I hate everyone and everything about this past year or so).
30: You need a license to catch a fish, but anybody can buy one of those hats regardless of their grades in B school or lack of a CPA certificate.
But I REALLY, REALLY, REALLY hate Chris Cillizza (who is headed to CNN, to the benefit of the WaPo).
he just can't get over what a nothingburger this in and asking "this hurts Trump, how?" As if that it were the sole interest in the fucking thing. Contrast his take on any other fucking thing or person (esp. HRC). Ah, not even worth typing up criticisms of him.
But, my God is the media world struggling to handle a world where a dozen things happen a day which would have been years worth of hearing during the Obama admin. Maybe starkly point that out once and a while. Of his appointees almost no one but Mattis would have made it through for Obama for instance.
Fuckers and subfucker everyone of them, Republicans and much of the media alike. Not to mention me.
But I am actually feeling somewhat cheered in the afterglow of seeing a great Patti Smith concert Monday night (Horses tour). See it if you can. And personally gratifying for me as I saw her on the initial release tour at the Agora in Cleveland, lo those 40+ years ago ... Sappily nostalgic I realize, especially when they encored with "My Generation" (they recorded the bonus track version at the Agora concert). My daughter was bemusedly amused.
Don't worry all of us cuntful boomer fuckmonkeys will be dead here in a few decades.
And Jeff Sessions bringing his own wacky nostalgia trip.
Sessions in prepared remarks today also calls marijuana a "life-wrecking dependency...that's only slightly less awful" than heroin.
You know, I assumed Sessions was just some standard issue drugstore truck driving man throwback Southern bigot, but he's much more interestingly fucked up than that. Especially along the Bannon/Russia dimension. This here marijuana stuff is more in line with what I might have expected.
As you can see I have deadlines today ....
So a Republican Oklahoma State Senator just got busted with the proverbial live boy in his hotel room, no surprises there. The best bit is that he's the sponsor of a bill forbidding the use of aborted fetuses in food.
Oops! forgot to pause/play the previous comment.
Actually, I'm opposed to hidden cannibalism.
But if it's right there on the label between Xanthan gum and yellow no. 5 there's no grounds for objection.
48.2 Is he just mad, or is some weird twist on blood libel?
They were lodged at the "Super 8", IYKWIMAITYD.
Remember when the mostly blind lady in Spain tried to restore a painting of Jesus and did such a bad job that the internet turned her work into a meme? The guy in Oklahoma has the same haircut and beard as the "after" picture.
54: I think of her sometimes. It's one of those things that seems like an extended metaphor for life for me.
You might be me reflective than I am.
To either of the last two, I guess.
Aborted fetus seasoning is going to be the ketchup on steaks of the left.
48: I tried to find the story by googling and it turns out that a remarkable number of Oklahoma state senators have been arrested recently. There was one who got done for drunk driving, having sponsored a bill to increase penalties for drunk driving.
OMG but his last name is perfect.
There was one who got done for drunk driving, having sponsored a bill to increase penalties for drunk driving.
Better than getting done for drink driving having sponsored a bill to decrease penalties, I suppose.
I suppose Sen. Short Eyes is going to introduce a bill raising the age of consent any minute now.
Screw the browser, I'm going to abbreviate myself.
OT: I can't remember what thread this was on, but I guess you don't need to go all the way to South America to get your dubious, cutting-edge, stem-cell treatments.
South Florida is practically in South America. They don't even speak English there anymore.
They never did speak English there very well.
OT: But here's some cute art imitating life
https://www.youtube.com/watch?v=HOe7jY2X6WU&feature=youtu.be
he explicitly said he only hires accountants who wear yarmulkes.
Surely he called them "those terrific little hats they wear, just terrific."
(The author of this comment in no way wishes to distract attention from the genius of 34.)