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Joined 1 year ago
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Cake day: June 10th, 2023

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  • The first write-off came on Mr. Trump’s tax return for 2008. With sales lagging far behind projections, he claimed that his investment in the condo-hotel tower met the tax code definition of “worthless,” because his debt on the project meant he would never see a profit. That move resulted in Mr. Trump reporting losses as high as $651 million for the year, The Times and ProPublica found. There is no indication the I.R.S. challenged that initial claim, though that lack of scrutiny surprised tax experts consulted for this article. But in 2010, Mr. Trump and his tax advisers sought to extract further benefits from the Chicago project, executing a maneuver that would draw years of inquiry from the I.R.S. First, he shifted the company that owned the tower into a new partnership. Because he controlled both companies, it was like moving coins from one pocket to another. Then he used the shift as justification to declare $168 million in additional losses over the next decade.








  • I’m ignorant, and maybe I shouldn’t ask this in a meme community, but wouldn’t a UBI become the new $0?

    Like all the corporations now know we get x-amount more so now prices are adjusted to take a portion of that across all sectors, and now I’m back to not being about to afford the same things as before? Idk I don’t have an econ degree.