Culture

NY Times Reports Trump Lost Billions 1985-1994; But Nothing On These Billionaires That Lost Billions In A Day

The New York Times has published some information that alleges President Trump lost billions of dollars between 1985 to 1994.

Billionaires lose money and they don’t bat an eye because they are billionaires. Their mindset is different and they keep doing what they are doing because they are financially set to risk big, win big.

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With the NY Times coming out with this story means they are traveling to the ends of time trying to find something to make the American people dislike or not trust their Commander-in-chief. President Trump doesn’t want to release his taxes to the Democrats in Congress. Steve Munchin, Treasury Secretary told Congress he wasn’t just going to release the tax information without just cause.

While the NY Times was focused on the alleged billions that Trump lost within 10 years, many of our billionaires in this country have lost billions in one day and they are still considered successful.

While the report did not include information on the Trump tax returns requested by Democrats in Congress, it did add previously unknown context to the president’s financial history using information about Trump’s tax transcripts from the IRS.

The Times‘ data revealed that in 198 the losses from Trump’s businesses, including hotels, real estate, casinos, and other storefronts, amounted to over $46 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. Trump’s businesses stayed in the red for every year of on the tax transcripts until their losses added up to $1.17 billion. [Mediaite]

Here are some billionaires who lost billions in one day via Yahoo News

Jeff Bezos
Date: Oct. 24, 2018
Company: Amazon, Inc.
Percent Drop for Company Stock: 5.9 percent
Loss to Net Worth: $8.2 billion

Mark Zuckerberg
Date: July 26, 2018
Company: Facebook, Inc.
Percent Drop for Company Stock: 19 percent
Loss to Net Worth: $15 billion

Warren Buffett
Date: Oct. 10, 2018
Company: Berkshire Hathaway, Inc.
Percent Drop for Company Stock: 4.9 percent
Loss to Net Worth: $4.5 billion

Sergey Brin
Date: Oct. 24, 2018
Company: Alphabet, Inc.
Percent Drop for Company Stock: 5.2 percent
Loss to Net Worth: $1.1 billion

Larry Page
Date: Oct. 24, 2018
Company: Alphabet, Inc.
Percent Drop for Company Stock: 5.2 percent
Loss to Net Worth: $1.2 billion

The Waltons
Date: Feb. 20, 2018
Company: Walmart, Inc.
Percent Drop for Company Stock: 10.2 percent
Loss to Net Worth: $14.8 billion

Jack Ma
Date: June 25, 2018
Company: Alibaba, Inc.
Percent Drop for Company Stock: 5.3 percent
Loss to Net Worth: $1.9 billion

Steve Ballmer
Date: Oct. 24, 2018
Company: Microsoft, Inc.
Percent Drop for Company Stock: 5.3 percent
Loss to Net Worth: $1.9 billion

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I’d almost believe Trump leaked it himself. These tax docs make him like the ultimate businessman. He took $1.17 in losses and it didn’t even slow him down. He kept his business empire running and regularly turned debt into profit.

I don’t really get concerned about the business income of Trump during the 1986 to 1994 period as there was an economic recession during that period. It was also 35 years ago. I realize that Trump is a salesman. I certainly believe he probably exaggerates his income, his net worth and his intelligence. However, he still is more financially successful and smarter than W or Obama and Hillary and clearly more so that Sanders, Warren, Harris, and Biden.

I am sick and tired of people violating the Hatch Act and IRS confidentiality laws without consequence. In 2012 an IRS employee leaked a confidential tax return of a 501c(3) showing Mitt Romney’s donations to a group that supported YES on California Proposition 8. The purpose of the leak was to rile up gays to hate Romney and donate to Barack Obama. They knew who leaked it, the fax machine used, the room where it was faxed from in the IRS office and it was leaked to a Mass democrat operative who leaked it to the media who published it. When a Republican-leaning public interest group sued to get the public records the government hid them, protected the criminal and ultimately we the taxpaying people paid a $50,000 fine for not complying with a proper FOIA request.

Federal law makes the leaking by the IRS employee a crime, the leaking by the democrat operative a crime and publication a crime. No one was prosecuted criminally. NO ONE. The fake news and fake Congress will put a negative spin on it, of course. But this makes Trump look like a business deity.

Here’s the deal. When you come at me for what Trump lost over a 10 year period, come correct. The same people you praise and support and cheer as financial geniuses took huge 1-day hits which is worse.

Any American will tell you that.

 

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