Scot

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I saw an article that stated Trump refused to put in the time on debate prep that he did for the last election because he didn’t feel it was necessary

I hope that’s not the case

I really hope he doesn’t come in to tonight’s debates cocky and unprepared thinking he has the election in the bag already or that Biden is just a senile old coot that doesn’t know his head from his ass anymore

That may be the case, but I hope that wasn’t Trumps entire plan to win the debate.
 

yimyammer

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I saw an article that stated Trump refused to put in the time on debate prep that he did for the last election because he didn’t feel it was necessary

I hope that’s not the case

I really hope he doesn’t come in to tonight’s debates cocky and unprepared thinking he has the election in the bag already or that Biden is just a senile old coot that doesn’t know his head from his ass anymore

That may be the case, but I hope that wasn’t Trumps entire plan to win the debate.

seems like there a high likelihood of something batshit crazy being said by one or both tonight, will it be crazy enough to matter or quickly forgotten?

:popcorn
 

Scot

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Something crazy will happen

What that will be is anyone’s guess at this point

Biden is guaranteed to say something crazy

Umm....

And so is Trump, so that’s not saying much

With Trump’s reported lack of debate prep I can see him getting caught with his pants down by Biden then stomping his hands and feet like a manchild before calling Biden’s wife old and ugly as his killer comeback
 

yimyammer

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Something crazy will happen

What that will be is anyone’s guess at this point

Biden is guaranteed to say something crazy

Umm....

And so is Trump, so that’s not saying much

With Trump’s reported lack of debate prep I can see him getting caught with his pants down by Biden then stomping his hands and feet like a manchild before calling Biden’s wife old and ugly as his killer comeback

Hoping for a zinger like this:



unless you're totally up Clinton's ass, thats at least got to give you a chuckle
 

Dodger12

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I still believe in everything else I wrote and don't really understand why have an issue with it or me, all I care about is the unvarnished truth and will happily alter my course based on wherever the truth leads me

No issue with you at all Yimmy. Your points are possible and they're reasoned.
 

Scot

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I’m hoping he’s ready and has a zinger like that ready in his back pocket

But I fear his ego has got to him and he thinks he’s got this election all wrapped up already so he doesn’t feel he need to prep for the debate like he did the first time
 

Dodger12

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I'll defer to you on the 400 million comment, it was not essential to my point thus why I said "I believe he inherited.."
so I'll retract that unless I can substantiate it with something reiable

I still believe in everything else I wrote and don't really understand why have an issue with it or me, all I care about is the unvarnished truth and will happily alter my course based on wherever the truth leads me

This is the article I was referring to. It's short but, in essence, the NYT claim that Trump inherited 400 plus million is a figure based on today's valuation of his inheritance. Kind of misleading. But again, I take nothing away from your post. On the contrary, I appreciate the fact that you looked at it from your experience as an accountant and real estate investor and you formulated your opinion based on your experiences with both.

 

Dodger12

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But I fear his ego has got to him and he thinks he’s got this election all wrapped up already so he doesn’t feel he need to prep for the debate like he did the first time

Could very well be the case Scott. He's probably thinking that he takes questions every day and feels he's ready.

I also fully expect Biden to give us the talk track he's memorized during his 47 years in government. He has all the lines, the buzz words, the catchy phrases, etc. that he's repeated year after year. The bar has been set so low that if the guy doesn't pass out, everyone will claim he won the debate, regardless of any substance.
 

Scot

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Trump after the debate

0f5848686e2d5ecbcef80089d1165e12.jpg
 

Scot

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well, that was depressing

I expected nothing less

However, it was way more frustrating than I expected

The talking over each other bullshit got old real fast

When they ask a question to one candidate then announce that they have 2 minutes to reply, the other candidates mic should be muted until the open discussion portion is established
 

Creeper

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I'm making the claim "he's not the billionaire "genius" businessman he purports himself to be". With an emphasis on the words "genius" and "billionaire".

That doesnt mean he doesnt know business or has even made money, I just dont believe he's a billionaire as evidenced by his tax return and other stories I've read where he went bankrupt and lost all of his properties to the banks but his name was so tied to the properties, they didn't want to foreclose and potentially crater the real estates value so they paid him a percentage for the use of his name and that's primarily what Trump did going forward (licensing his name to projects) versus owning the properties that have his name. I think thats primarily how he makes his money and I think he made a lot of money from The Apprentice but it sounds like he loses constantly on his real estate deals.

His acumen is in PR, he's fooled you and many others into believing he is something he is not which again is not a "genius" or a "billionaire" when it comes to real estate especially considering real estate has done nothing but go up since I graduated from college in 1988. Assuming he purchased properties leveraged by loans and held them to this day, they should be paid off and making a ton of money, the fact he is still showing little to no tax paid means the loss carry forwards are wiping out the profits in the current year.

Here's an example, if I start a business and lose 1 billion dollars in the first year but then proceed to make 100 million per year for the next 9 years, I've run a net loss of 100 million dollars at the end of 10 years and would not have paid any income taxes because I could carry forward that first year loss until the loss was fully absorbed by profit or the time limit to apply these losses had expired (IIRC, its 15 years). That's what I think has happened with Trump. He could still be cash flowing while having no taxable income because you can take depreciation on the building which lowers your taxable income without being an actual out of pocket expense. But its really just a deferral of tax because once you sell the fully depreciated building, you pay tax on a fully depreciated asset.

Now I could could be wrong about the billionaire part if it can be shown he actually owns significant real estate with equity, then he could be. I think I heard him claim he is worth 10 billion, I dont believe him and it would be consistent for him to exaggerate the truth for personal benefit or ego. And I dont say this with any sense of Trump derangement, its more an observation that I think is accurate. I'm politically agnostic and ambivalent about whomever is president because I think the government has so fucked us with their out of control spending and printing of money that its simply a matter of time until the dollar crashes and we all pay for the lack of restraint shown by politicians and no President, current or in the future, has the political will, courage and/or ability to stop the coming crash.

In regard to the billion dollar loss, thats been reported for years. Here's one example: Report: Trump lost more than $1 billion from 1985 to 1994

I believe he also inherited like 400 million from his father. He could have put that in the stock market and played tidily winks for the last 30 years and it would probably be worth more than he is now.

To reiterate, I'm not saying he's broke, I just don't believe he is the multi-billionaire he claims to be, I bet he's not even a billionaire but who cares, he gets to live like one. If we had full access to all his finances, this would become clear but we'll never have full access to this data because I think it would prove what I'm saying.

Genius is a subjective term in this case so people can believe what they want. But he is definitely a billionaire. Forbes downgraded the value of Trump's assets to $2.1 billion recently, from $3.1 billion prior to the COVID-19 pandemic. That is purely paper decrease of asset values. His assets will almost certainly rise in value again once we return to normal. Trump has several very high priced properties in Manhattan alone that are worth more than $1 billion. And these assets do not include the licensing fees he is paid for the use of his name on hundreds of other properties he does not own. If Trump decided to sell all of his properties and retire to his own Island, he would almost certainly raise billions, even in a fire sale.

As for his $1 billion loss in the 1980's and 1990s, we have a market crash in 1987 that sent real estate value way down. Trump and every other major real estate developer lose huge amounts of money on commercial real estate investments. The market goes up and down constantly.

Having worked for a bank in commercial lending I think people mostly do not understand how this stuff works. Real Estate developers always borrow money for development projects, and banks are happy to lend them the money because usually these loans are heavily collateralized. Trump seems to prefer real estate in prime locations. Manhattan land is not going to decrease in value anytime soon. His golf courses are also in some prime locations. His LA course overlooks Catalina Island. His NJ course is in the middle of some of the wealthiest areas in the state. Trump knows what he is doing when it comes to real estate.
 

Creeper

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So what? You know we tax INCOME, correct? Not wealth. And we tax income based on what it is AFTER deductions and expenses. Not the gross.

This is fodder for idiots and what the dems still don't realize is most people not voting their way are intelligent. And don't get all bent over shit like this. If anything it illustrates what is wrong with our tax system. Kudos to Trump or anyone else who uses this shit system to avoid paying into it. I know I do and always have.

Only the idiots who wouldn't vote for Trump anyway are gleeful. This doesn't move the needle at all for moderates or independents. This is all the same mistake Hillary made - appeal only to those who lean her way anyway and ignore everyone else. Preaching to the choir.

People are ignoring the fact that Trump actually overpaid his taxes and was given millions in refunds from the IRS. And this is where the NY Times article was murky. Businesses are required to pay tax quarterly. The estimate their tax liability for the year and pay in quarterly installments. Then when they file their full year tax returns they either overpaid or underpaid their taxes. Trump overpaid. Or at least it appears that way. The Times should publish all of the information they have so we can see the full picture. Instead they have chosen to hide the details and insinuate what they mean. This is unfair to Trump and it is unfair to the American people.
 

Number1

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NY Times with no integrity whatsoever?

I never would have conceived such an idea.

neither would I, because the NYT has not lost a liable suite since the '60s

no offense intended - many people just aren't aware the NYT's journalistic professionalism is rather high, gold standard

I'm not saying individual NYT writers / editors won't go hard when ticked off, ask Hilary, but spin yes, lies no

when they say $750 paid in fed income tax and put it on the front page ... then it's a fact

when they say $400M in debt coming due on hard dates to unnamed parties ... then they likely know who it's owed to and may soon reveal

*yes, that's playing hard ball, that's also marketing, but it's not lies or catch and kill or propaganda, just news*
 
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