I do not believe Donald Trump had $916 million dollars in losses.

[kentuck]

But, it seems that the media and all the discussion groups take that fact for granted. I would need to see proof in order to believe that. Something smells in Denmark. And it has a very strong odor.

If the people and the media accept his word on the amount of losses and the legitimacy and legality of his deductions, it would be very foolish. He is a pathological liar with a bent toward criminality.

[etherealtruth]

1. He is a terrible business person ... he also lost investors $$$$

He then declared bankruptcy so he would not have to pay any of the loans back ... I have no problem believing it


Not exactly evidence of a good business person ... good evidence of a con-man

http://www.npr.org/2016/10/02/496303458/how-donald-trump-could-have-not-paid-income-taxes-for-18-years


The forms show that in 1995, Trump claimed a business loss of nearly $916 million. Much of that likely resulted from Trump's business losses in previous years, including money-losing casinos in Atlantic City and the Trump Shuttle airline.

At the time, the tax code allowed such losses to be "carried forward" up to 15 years, offsetting income and reducing or even eliminating tax liability and carried backward on income up to 3 years prior. (The allowance has since been changed to carry forward 20 years and carry back 2 years.) The code is particularly flexible when it comes to real estate professionals like Trump.

[kentuck]

4. Some have suggested that he "parked his debt"..

He sold it for pennies on the dollar, to a family member or friend, then wrote it off as losses.

[prayin4rain]

2. Yeah, I smell a tax shelter scheme. nt

[beachbum bob]

3. all sorts pf "paper losses" using the tax code...did HE lose money? I doubt it.

loopholes exist for this reason, so wealthy and corporations can be supported by taxpayers....and why NO action has been taken on tax reform in decades

[exboyfil]

5. A great debate question

since he already opened the door by saying his knowledge of how the rich avoid taxes will allow him to revamp the tax code.

Mr. Trump: Explain to me how you were able to book nearly $1B in losses in 1995 and how that loss could be used to offset future income. How would you adjust the tax code so that such techniques can be eliminated?

[world wide wally]

6. The best argument about this that I have heard so far was by the hostess of some CNN afternoon

"News" show.
She pointed out that in the years to f 1995. 1996 the economy was booming and every other gambling enterprise was showing profits. Why was Trump losing money at this point in time?
Genius?

[Nitram]

7. No he didn't have that much money. His losses were largely attributed to the theoretical

value and potential income from failed real estate purchases and projects he was involved with.

[Skink]

8. If you get bankrupcy protection how can you get a tax benefit.?

[Bucky]

9. YOU DOUBT THE KING OF DEBT? THOU SHALT BE PUNISHED!!

But agreed, his ugly financial secrets were always his Achilles heel (and not, sadly enough, his utter contempt for the voters or his complete lack of ability to do the job)

[DustyJoe]

10. I think the IRS agrees

From what has been reported, the Trump enterprises have been under continous IRS audit for years. I am sure they smell a rat too and try to ferret it out.

[mopinko]

11. you know this got an audit.

hoping the other shoe that will drop is the full audit report.
i'm guessin the irs smacked him good.

[jmg257]

12. Early 90s was a terrible time for real estate in the US...80s & 90s is when Japanese investors

bought tons of US properties.

By '96 the trend had reversed and the Japanese were selling big time.

i remember Trump taking a beating, but i thought it was during the earlier years.

Japanese Cut Losses In U.s. Real Estate
Once-high-priced Trophy Properties Are Being Sold As Market Rebounds

June 03, 1996

The sales are an about-face for Japanese investors, who in the late 1980s and early '90s scooped up trophy properties at sky-high prices. Problems cropped up early in the decade, when the economy took a turn for the worse and real estate prices collapsed.

"The average American who a few years ago was worried about the selling of America is now getting the last laugh by buying back those same assets at a discount," said Jack Rodman, director of Leventhal's Pacific Rim practice.
...
Mitsubishi Estate Co. paid the Rockefeller family $1.4 billion for an 80 percent stake in the complex in 1989 and 1990. By early 1995, Mitsubishi had lost more than $600 million on its investment and put the property under bankruptcy protection. Late last year, it decided to hand the property over to its lenders."

http://articles.chicagotribune.com/1996-06-03/business/9606030053_1_pacific-rim-practice-e-y-kenneth-leventhal-japanese-investors