Interesting take on Trump's financial entaglements and tax breaks [View all]

[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.