domodork321 reblogged
domodork321 reblogged
THE PRESIDENT’S TAXES: CHARTING AN EMPIRE: A TIMELINE OF TRUMP’S FINANCES
By Russ Buettner, Gabriel J.X. Dance, Keith Collins, Mike McIntire and Susanne Craig
Sept. 27, 2020
Tax records provide a detailed history of President Trump’s business career, revealing huge losses, looming financial threats and a large, contested refund from the I.R.S. President Trump’s tax returns portray a businessman who takes in hundreds of millions of dollars in some years yet racks up chronic losses. Playing a tycoon executive on “The Apprentice” earned Mr. Trump nearly $200 million. Endorsement and licensing deals that followed the show’s debut brought the Trump name to products and hotels around the world and made him hundreds of millions of dollars more. Investments in companies run by others have been immensely profitable for the president — although he plays no official role in the operations of those businesses. Some of Mr. Trump’s own companies generate tens of millions of dollars in profit every year.
Ultimately, however, his own businesses are much bigger losers than winners. The tax returns for Mr. Trump and hundreds of his businesses reveal the hollowness, but also the wizardry, of the self-made-billionaire image honed through “The Apprentice.” They demonstrate that he was far more successful playing a business mogul than being one in real life.
MAKING A FORTUNE
Mr. Trump was adrift when he got a big break on “The Apprentice.” He used his reality-TV persona to ink a string of worldwide licensing and endorsement deals. The tax returns that Mr. Trump has fought to keep secret cast a harsh light on his finances, revealing a businessman who regularly reports losing so much money that he has gone for years paying little or no income taxes and today finds himself in a tightening financial vise.
He has churned through hundreds of millions of dollars in a series of career reinventions, aided by tax-avoidance maneuvers, all laid bare for the first time in tax-return data obtained by The New York Times that extends over more than two decades. The returns comprise information that Mr. Trump has disclosed to the I.R.S., not the findings of an independent financial examination. Even so, the records paint the most complete portrait yet of how Mr. Trump leveraged failure and fame on his improbable path to the White House.
At the start of the new millennium, Mr. Trump was in financial trouble. The chance to play a reality-TV business mogul on “The Apprentice” changed his fortunes dramatically. An unusual arrangement with the show’s producers entitled him to half its profits, and as its ratings soared the money rolled in. in all, “The Apprentice” earned Mr. Trump nearly $200 million. The show’s success spawned endorsement and licensing deals around the world, generating more than $230 million from 2000 through 2018. For Mr. Trump, no endorsement was too small, and he rented out his name to everything from Oreo cookies and Domino’s Pizza to mattresses and neckties.
Licensing deals were made with developers of hotels and towers from Azerbaijan and Turkey to Hawaii and Manhattan. Mr. Trump’s taxes also reveal that his licensing deal in Istanbul has been significantly more lucrative than previously known, with declared earnings of at least $13 million. Along with “The Apprentice,” the endorsements and licensing deals added up to more than $427 million in reported profit for Mr. Trump in this time period.
THE I.R.S. COMES KNOCKING
Fame brought a windfall to Mr. Trump, but it also left him with something unfamiliar: a large tax bill. With so much money pouring in from his newfound celebrity and the branding associated with it, Mr. Trump suddenly found himself having to pay income taxes for the first time in years.
Mr. Trump had long managed to sidestep taxes in part because of nearly $1 billion in business losses he incurred in the 1990s and could carry forward to cancel out income in future years. But that option was largely used up by the time his “Apprentice” and licensing profits kicked in, and over a three-year period starting in 2005, he paid over $70 million to the Internal Revenue Service.
They were some of the biggest tax bills of his life and were far more than anything he would owe over the next decade, which would see him pay no taxes at all for five years and only $750 during his first year as president. After a brief period of indebtedness to the I.R.S., he was able to return to tax avoidance by claiming losses on the businesses he owned and operated. Beyond licensing and endorsements, real estate — in which Mr. Trump had first made a name for himself — remained essential to his bottom line. Mr. Trump’s retail and commercial spaces at Trump Tower in Midtown Manhattan reported a total of $336.3 million in profit from 2000 to 2018. And Trump World Tower on the East Side of Manhattan earned Mr. Trump more than $167 million in profit over the same period. Among his most profitable investments is a 30 percent stake in two office buildings, owned and operated by Vornado Realty Trust. Mr. Trump’s share of the profits totaled $176.5 million through the end of 2018. But many of his highest-profile properties are money losers, none more so than the sprawling collection of golf courses he bought with profits from “The Apprentice” and licensing deals. The golf properties have cost Mr. Trump dearly, with declared losses of more than $315.6 million since 2000. Trump National Doral, a major Florida golf resort, has reported losses of more than $162.3 million.
TURNING LOSSES INTO GOLD
As his businesses bled money yet again, Mr. Trump used a bold financial move to turn the tables on the I.R.S. and claim a $72.9 million refund. With the addition of money-losing golf resorts in the United States and Europe, as well as a hotel in the Old Post Office in Washington, Mr. Trump has once again been able to claim annual losses that wash away much of his taxable income. The losses are very real — and some are very large.
Mr. Trump declared more than $1 billion in losses for 2008 and 2009 that appeared to be largely related to the latest, and final, failure of his Atlantic City casino investments. In a particularly audacious accounting move, he used the losses to claim a $72.9 million refund of federal taxes from the previous four years — virtually everything he had paid to the U.S. Treasury during the peak of his “Apprentice” success.
It had echoes of that earlier titanic loss on his returns from the 1990s that resulted in years of tax avoidance. This time, however, the I.R.S. decided to take a hard look at Mr. Trump’s gambit and started an audit, one that has yet to be completed almost 10 years later.
By the time Mr. Trump announced his candidacy in 2015, his revenue streams from “The Apprentice” and licensing were drying up, and he was in need of financial reinvigoration. If he hoped his unlikely presidential bid might, at least, revitalize his brand, his derogatory remarks about immigrants quickly cost him. NBC cut ties with the Miss Universe pageant, which it co-owned with Mr. Trump. NBC also dropped “The Apprentice.” His proceeds from fame continued to tumble, falling below $10 million in 2017 and to $2.9 million in 2018.
At the same time, Mr. Trump’s presidency has, in some respects, helped his business. At the Mar-a-Lago club in Palm Beach, Fla., a flood of new members starting in 2015 allowed him to pocket millions more dollars a year from the business. Mr. Trump’s profits reported from the Florida club has risen dramatically compared with the previous decade. In the end, however, the financial picture for Mr. Trump is fraught.
DANGER SIGNS AHEAD
The vise is tightening: Mr. Trump has sold off many of his stocks, the I.R.S. has him under audit and huge bank loans will soon come due. The president’s tax returns suggest that as he approaches one of the most consequential elections in American history — down in most polls, under I.R.S. audit and heavily in debt — his businesses may not be well equipped to navigate what lies ahead.
As many of his companies continue to lose money, Mr. Trump has more than $300 million in loans, for which he is personally responsible, coming due within the next four years. He liquidated hundreds of millions of dollars in stocks in recent years and may have less than $1 million left in his portfolio, according to his public financial disclosures. The pandemic has crippled the hospitality and recreation industry that so much of his portfolio of properties is dependent on.
And hanging over his head is the audit. Should the I.R.S. reverse the huge refund he received 10 years ago, Mr. Trump could be on the hook for more than $100 million.
sorry i can’t also post the infographics w financial data from the article
domodork321 reblogged
Serbia right now:
In the afternoon,military and police started to search buses headed towards Belgrade,intercepted them or arrest ppl going to protest there. Many police forces,water tanks and tear gas reserves were transported to Belgrade.I repeat they INTEROGATED ppl travelling to Serbia capital woth bus,NO weapons,no ill intent,CHILDREN,WOMEN and ELDERLY.
Right now there are protest in 4 biggest cities in Serbia. Requests are new members of crisis headquarters. Protests are peaceful.
Masked men, armed members of cheerleading groups and police with horses and dogs are cornering ppl. Tear gas is being put out. Human rights are at risk.
Yesterday they pointed GUNS at us,GUNS AT UNNARMED PEOPLE!!
Help us!!Reblog this!!Spread this!!Speak up!!Stop the dictatorship!!
domodork321 reblogged
Eighty-eight of Detroit’s 97 public schools were closed Wednesday when teachers participated in a districtwide “sickout” to push for demands related to school conditions and their rights as employees. The protests align with a very high profile visitor in Detroit.
rudegyalchina
Omg
browngxrl
PLEASE continue to share images like this. White people refuse to acknowledge the reality of others until it’s shoved in their faces.
bishopmyles
What’s crazy is it’s been like this since I was a child and prolly even before that.. My mother is a DPS school teacher and ain’t much changed, if anything things have gotten worse. She’s been buying school supplies for her students for as long as I can remember.
how-to-be-a-sad-bitch
this is why i think it’s really funny when people condemn “third world countries” and act like amerikkka is the greatest country in the world. because this country lets shit like this happen all over the place and lets people starve to death
zaddynowarbucks
We need to invest in our own institutions. We can raise the funds to create our own spaces. This is just ridiculous, insanity even.
So that article is from 2016. Any updates?
Source: mic.com
domodork321 reblogged
lagonegirl
Solomon’s Shield is the name of the app
OMG Download this!!!! Stop Police Brutality!
<3 Boosting this as a useful tool for people in protecting themselves here <3
signal boost!!
domodork321 reblogged
Petitions that still need signatures:
domodork321 reblogged
Please sign the petition!!!
domodork321 reblogged
Trump’s threatened ICE raids are back on for this Sunday 7/14/19.
I live an hour from Atlanta, one of the cities being raided. It’s disgusting this is happening in my neck of the woods. Be safe guys.
domodork321 reblogged
How to Sense Trouble ❗️
domodork321 reblogged
what is this i need to know
metalgearsolids
its called the hero yoshiko and the devil king’s castle and its a big spoof on square rpgs particularly dragon quest
back-from-the-junk-heap
THIS IS THE SAME SHOW AS THE POISONED KNIFE THING
domodork321 reblogged
I’d be the last guy to deny that basic biphobia is a thing, but I suspect a big chunk of the “untrustworthy bisexuals” stereotype also boils down to the bizarre notion a lot of people seem to have is that it’s reasonable to demand that your partner “earn” your trust by never interacting with any other member of the gender(s) they’re attracted to, and the concomitant fact that it’s impossible to fulfill this demand when the set of genders you’re attracted to is “all of them”.
domodork321 reblogged
yall im losing it, TIL the “WAKE ME UP” in bring me to life was added on bc the record company thought the song should be more masculine LMAO??
this is wild
omfg
holy shit
sorairo-deizu
celticpyro
Please listen to this and if you can’t listen on Spotify here’s a Youtube link SERIOUSLY THIS VERSION IS SO MUCH BETTER.
Finally, a version I like! (I always wanted to like this song, but the shouty male rap parts just did not work for me.)
domodork321 reblogged
Aesthetically Pleasing Anime Movies
The mentions below are a combination of beautiful visuals animation movies that had captured an immediate attention due to its fresh and appealing color choices and drawing-styles; yet, still intrigued the audience with a unique plot. Before you check out the list, keep in mind that I did not forget any of Studio Ghibli productions. I think every project in Ghibli is so special that I feel I need to make a separate post, don’t you agree? Plus, I want to give a shout-out to other animes. Some are extremely underrated and need much more love and appreciation! ❤️ this and enjoy~
Hirune Hime: Shiranai Watashi no Monogatari / Ancien and the Magic Tablet (2017)
Digimon Adventure tri. 4: Soushitsu / Digimon Adventure tri. Loss (2017)
Uchiage Hanabi, Shita kara Miru ka? Yoko kara Miru ka? / Fireworks, Should We See it from the Side or the Bottom? (2017)
Zutto Mae kara Suki deshita.: Kokuhaku Jikkou Iinkai / I’ve Always Liked You (2016)
Koe no Katachi / A Silent Voice (2016)
Kono Sekai no Katasumi ni / In This Corner of the World (2016)
Kimi no Na wa / Your Name (2016)
Hana to Alice: Satsujin Jiken / The Case of Hana & Alice (2015)
Kokoro ga Sakebitagatterunda / Anthem of the Heart (2015)
Sarusuberi: Miss Hokusai (2015)
Giovanni no Shima / Giovanni’s Island (2014)
Inari, Konkon, Koi Iroha / Inari, Konkon, ABCs of Love (2014)
Tamako Love Story (2014)
Kotonoha no Niwa / The Garden of Words (2013)
Buki yo Saraba / A Farewell to Arms (2013)
Hal (2013)
Kaguya-hime no Monogatari / The Tale of the Princess Kaguya (2013)
Ookami Kodomo no Ame to Yuki / Wolf Children (2012)
Nerawareta Gakuen / Psychic School Wars (2012)
Ano Hi Mita Hana no Namae wo Bokutachi wa Mada Shiranai / Anohana: The Flower We Saw That Day (2011)
Hotarubi no Mori e / Into the Forest of Fireflies’ Light (2011)
Hoshi wo Ou Kodomo / Children Who Chase Lost Voices (2011)
Momo e no Tegami / A Letter to Momo (2011)
“Bungaku Shoujo” Movie / Book Girl, Literature Girl (2010)
Summer Wars (2009)
Byousoku 5 Centimeter / 5 Centimeters Per Second (2007)
Paprika (2006)
Toki wo Kakeru Shoujo / The Girl Who Leapt Through Time (2006)
Tekkon Kinkreet (2006)
Bonus: A 15 one-minute shorts created by various people from Japan’s animation industry. Be prepared to indulge in 3 seasons of masterworks.
Ani*Kuri15 (2007)
domodork321 reblogged
crypticanimentor
Please signal boost this, this is a real candidate currently running who excuses pedophilia and white supremacy but disapproves of gay marriage. He has made chatrooms for pedophiles and white supremists, fetishizes his THREE-YEAR-OLD DAUGHTER and advocates for the legalization of child pornography. This is sick. Please spread this, there’s not enough notes on this.
This is vile
killhim kill him kill him kill him kill him kill him
Chop him up and throw him in a volcano
He’s running in Virginia.
Virginians. What’s up? How he doing. Y'all not voting for him right?
What the fuckkkkkkkk
ace-spacepup
PLEASE GO OUT AND VOTE. MEN LIKE THIS CANNOT REPRESENT US!
domodork321 reblogged
wнαт тнe ғυcĸ ιѕ тнιѕ?
Elmo’s voice saying “I’ll fuck u up” is the best and worst thing ever
fairy-gawd-muva
YO I SWEAR THIS SHIT IS TOO FUNNY😭🤣
domodork321 reblogged
All of these guys could GET IT
The last one slayed me lmao
domodork321 reblogged
as we all know, the best vines are the ones with dogs. here’s a bunch of doggy vines!!!!!!
This made me v happy
domodork321 reblogged
Fastfood-chan Anime
(Parody Screenshots )
oneinsanemuffin
domodork321 reblogged
recharm-deactivated20140718
if u feel sad right now look at this bunny eating a flower
domodork321 reblogged
black-to-the-bones-deactivated2
Three years into the water crisis
And nobody gives a sh*t
i only heard about this 2 months ago. its been 3 years????
noctis-nova
Remember this started because Snyder switched Flint from a freshwater mountain lake to the polluted Flint River simply to allow his wife’s company to use the lake for bottling instead. This is a manufactured crisis of corruption and capitalism.
you-cant-return-to-fruitprom
Also remember that the pipes corroded because they refused to pay for the chemical used to make the water less acidic.
Remember that when the first E. coli outbreak from the water popped up, the city hall was given water coolers by the state, free of charge, all while denying that the water could be unsafe to drink.
Remember that, despite having a huge budget surplus and a “rainy day fund,” set aside that could easily cover the cost of relocating the residents by buying their houses/paying their debt, or could cover a large chunk of the cost of replacing the pipes, the state has decided to continue to only put in the minimal amount of effort.
Remember that flint is majority POC, majority impoverished, and is still being faced with crippling water bills from the Detroit water supply company, where they are often charged $50 a month just to use the service, on top of the cost of their water bill.
Remember that there will now be an entire generation of children who will now be damaged by lead poisoning and damage from the multitude of neurotoxins.
Remember that this is what privatized natural resources looks like. Remember that these people are being punished for having the audacity to dare to be poor in an economy that won’t let them be anything but.
noctis-nova
At every level, this has not been a mistake.
The State and City are most upset that people know its happening and are resisting nation-wide.
But if we lose focus they lose even the small amount of aid they’ve managed to get.
This is how they do it. It’s a siege on the public empathy. Eventually we become numb to the problem and despair. Or something bigger happens.
Then its business as usual again.
xh0nia
Don’t forget Flint