Interesting take on Trump's financial entaglements and tax breaks

[Madam45for2923]

Trumpnado ‏@Trumpnado2016 Dec 13
1/ The Trump Org is NOT a corporation.
It is a mess of personally owned LLC's on Donald's personal income tax return.
@Newsweek


2/ Because of the way Trump set up his biz, to personally benefit from tax losses, he CAN NOT disentangle personally.
@kurteichenwald


3/ Trump's massive tax loss carry-forward was on his personal tax return, thus all income must ...
@kurteichenwald


4/ ... must remain as personal income for Donald to be able to take advantage of this massive tax break.
@kurteichenwald @nytimes

5/ so even if Donald wanted to, Trump can not afford to disentangle as personal owner of 500+ personal LLC's.

6/ NO ONE has been asking why he would have 500+ sole proprietorships/partnerships.
It is the only way he can use these massive tax breaks.

7/ There are huge advantages of efficiency & capital to operate as a large real corporation, so Donald made this decision for this purpose.

8/ after decades of running his biz as 500+ LLC's, it would be financially impossible to untangle. Taking many years, if even possible.

9/ Trump CAN NOT untangle from personally benefiting from every deal made by Trump Org entities. He owns each one personally.

10/ most of these LLC's carry large debt from different banks, tied to that asset. Most have more debt than the asset is worth.


11/ with such massive debt, there is really no way to untangle this LLC mess of companies from Donald personally.

12/ further even if bankers allowed him to sell these biz's, he could not afford the massive tax payments that would result.

13/ selling these personal assets, even if saddled with massive debt would incur huge tax payments for Trump. He simply can't afford it.

14/ Trump also has massive annual expenses.
Over $20 mil just for the Trump Tower retail condo. He must generate massive cash flow.

15/ And Wells Fargo owns the mortgage on Trump Tower retail condo, so yet another conflict of interest.


16/ Trump claims ownership of the Nike Store,
but yet another lie, he only owns a land lease of questionable value.
Block 1292 Lots 8,64,66

17/ NONE of the LLC's that own Nike Store are on Trump's FEC form. He rents the land from others.


18/ if you combine debt Trump has on Nike Store & 3 Trump Tower condos he owns, he's underwater, by a lot!
Trump DOES NOT own Trump Tower

19/ Trump DOES NOT own 40 Wall St.
He owns a land lease that is worth less than the debt he has on the property.

20/ When a land leases expires, all buildings/improvements on the property revert to property owner.

21/ Christian Hinneberg et al & other German partners OWN 40 Wall St. Trump just rents it from them.

22/ Trump has to get permission from the owner, Christian Hinneberg, to turn on the water at 40 Wall St.


23/ over 400 Trump LLC's are registered under highly secretive Delaware Corp laws.
We have no idea who his partners are,
or what debt

24/ Trump has set up a highly unusual labyrinth of secretive DE LLC's. There is no way he can, or will, disentangle his personal ownership.

25/ Trump requires a huge influx of new cash deals to service his massive existing expenses & debts, must make new deals or risk bankruptcy.

26/ No business journal has done a comprehensive estimate of Trump income/balance sheet/profit loss.
It can be done, but has not.

27/ Hotels & golf courses are notorious for marginal profits or losses, yet Trump is claiming massive unrealistic income from these biz's.

28/ Trump is lying
Trump biz's historically ALWAYS lose money.
He profits from govt zoning gifts & condo deals we know are mostly dark money

29/ Trump could not run a golf course or hotel at a profit, simply impossible based on his horrible management record.

23/ Equitable Life Insurance of the USA developed Trump Tower & owned the land.
Trump profited by bringing govt zoning gifts & ...

24/ ... being the front man for Equitable to partner with the mob, get ridiculous tax breaks & destroy a historic façade of Bonwitt Teller.

https://twitter.com/Trumpnado2016/status/808666847491006469

1/ Don't believe anything Trump tells you about retail rent. He had to give sweetheart rent deals to attract ...
@StudioFtB @kurteichenwald

(((STOP))) Trumpnado ‏@Trumpnado2016 Dec 13
2/ retail renters & when Trump was on the verge of bankruptcy I'd be too easy for Gucci & Nike to bargain rent WAY down.

[Madam45for2923]

1. Erik Trump's serious tax problem at Eric Foundation: Where Did The Cash Go ?

1/ Eric Trump's SERIOUS tax problem at @EricTrumpFdn.
#WhereDidTheCashGo ?

2/ As @BrandyZadrozny reported the @EricTrumpFdn director Scardigli said they just cut a check to Trump LLC.
http://www.thedailybeast.com/articles/2016/09/30/eric-trump-charity-spent-880k-at-family-owned-golf-resorts.html …


3/ Only problem is IRS 2014 990 Schd L Part IV only shows $87,665 bring paid to TNGC-DC LLC.
But @EricTrumpFdn had $242,294 direct expense.


4/ 2014 IRS 990 Part VII Sec. B is blank for @EricTrumpFdn.
So what happened to the $154,629 in direct expenses?
Who was check written to?

5/ IRS 990 Sched G Part II clearly shows $242,294 in direct expenses.
minus Trump Golf fee: $87,665
= MISSING $154,629
@EricTrumpFdn


6/ If Scardigli is telling the truth & check was written to a Trump Golf LLC, the full $242,294 should have been on Sched L
@EricTrumpFdn


7/ Why is press treating Eric & Ivanka w/ kid gloves? #TrumpCharityFRAUD
Ask this question⬇

1/ Dear NY Attorney General
@AGSchneiderman
Are you investigating serious irregularities of @EricTrumpFdn?
cc @amyspitalnick @Fahrenthold https://twitter.com/Trumpnado2016/status/813576912278786049 …

8/ ALL of the buyers in this video were RIPPED off by Trump Baja FRAUD!
Ivanka was Donald's #1 shill in con!

8/ Trump's violated Mexican law!
Pre-selling condos w/out financing & misrepresenting Trump as developer.
goto 3:30

9/ Ivanka is about to be given unprecedented access to national security as Trump's "First Lady" & despite being #1 Trump Con Artist Shill

10/ Ivanka was the front person for all of Donald's WORST fraudulent scams over the last decade!


11/ When Russian mafia & secret Russian cash & criminal partners were involved, Ivanka was the person in charge!


12/ So why is Ivanka the front person for all of the Trump Con Artist scams involving Russian cash?


13/ Before Ivanka got involved in Trump Org Donald was a bumbling idiot driving companies into bankruptcy & ripping off investors.

14/ After Ivanka became the defacto leader of Trump Org, they raised the bar to obvious criminal fraud & partnered with Russian criminals.

15/ Trump University, Trump Network, Soho, Baja Mexico, Tampa, Ft Lauderdale, Camelback, Cap Cana FRAUDS all happened with Ivanka in charge

16/ In 2008 Donald made it clear he was taking a back seat & putting kids in charge of Soho.
Ivanka was clearly ring leader of this fraud!


17/ So when it came time to promote little brother Eric's @EricTrumpFdn to the press, it was Ivanka out front with $30M "pledge"


18/ Ivanka was #1 shill again,
getting press for ETF with BLATANT lies about donations & low expense ratio,
while Trump's skimmed cash


19/ Ivanka is about to have the most powerful position in the world with ZERO accountability,
close to Putin she controls Donald.

20/ Her entire career running Trump Org behind the scenes is riddled with blatant criminal fraud & Russian mafia & govt cash.

21/ Let's not forget that Ivanka's mother was born in the USSR, the Soviet State of Czechoslovakia.


22/ It's time for press to stop ignoring Ivanka's role in promoting the lies about @EricTrumpFdn & her major role in the worst Trump frauds

https://twitter.com/Trumpnado2016/status/813576912278786049

[skylucy]

2. I have always believed that Trump cannot liquidate his "assets" and put the money in a blind

trust because he owes more than he owns.

[unblock]

3. there are a couple separate issues.

first, can ownership be transferred away from toxic trump;

second, can the assets be liquidated.


toxic trump could sell his interest in the 500 llcs into a blind trust. he would own the blind trust, so there's nothing wrong with transferring all 500 for $1, whether the stuff is collectively worth billions, nothing, or far less than zero. then it's the trustee's problem to see what assets are salvageable, need to be sold at pennies on the dollar, or could legitimately be sold for a profit.

toxic trump (ab)uses bankruptcy laws to protect himself. he makes high-stakes gambles. his losses are limited when he loses due because a losing llc can just go bankrupt, leaving the rest of toxic trump's finances unaffected. but the profits are unlimited. so the fact that "most" of his llc's are underwater doesn't say much. if he's made enough on the few that are successful, that could more than cover the limited losses. or not. we can't tell given the lack of transparency.


that said, the whole business seems to be set up like someone who's always borrowing from peter to pay paul, always needing a new deal to settle an old deal; and if the music ever stopped, it would all come crumbling down.

the living large, and exaggerated bragging is part of this. obviously suits his massive ego and insecurities, but his constant efforts to buff his image of a successful businessman is necessary to get people to want to partner with and/or lend to him.

[skylucy]

4. +100

[BSdetect]

5. This could be key to impeach this turd

[BSdetect]

6. K&R