The Goat Pen

sardis wrote:

AlabamAlum wrote:I would love to see Trump's returns. I think that it would show his debt and if he has any secondary gain motives.

Many believe he's not a billionaire anymore. That some heavy losses, bad deals, and debt have greatly eroded his wealth.

An individual's tax return does not show a person's debt. It does not show what the value of your assets are. The income on a tax return does not even give a hint as to the wealth of an individual.

80% of my work is with real estate developers. A developer can start a project and pretty much write off about 20-30% of the cost in the first year and depreciate the rest over 15-39 years. Even though the property goes up in value, the cost keeps depreciating until it reaches -0-. I've seen properties that have zero cost left on the tax return that are $50M in value. The only time a developer recognizes income is if he sells the property and keeps the cash. He can even sell the property, use the proceeds to invest in another property, and have -0- income from the transaction.

Anyways, the tax return says nothing about wealth, and for a real estate developer, it is always represents lower than what he actually makes because the tax code favors them. If I were him, I wouldn't release them either because its probably 1000 pages and he would waste time explaining everything in it. Easy for lifelong bureaucrats to show their two page return that has just a W-2 and a few contributions.

If a debt is written off, you have to show that as "income", no?

The liberals realize they are on the wrong side of public opinion on globalization, trade, immigration, and Obamacare, so to circumvent public opinion, and hopefully impeach an elected President, they will ride this Russian thing all the way because that is all they have.

AlabamAlum wrote:

sardis wrote:

AlabamAlum wrote:I would love to see Trump's returns. I think that it would show his debt and if he has any secondary gain motives.

Many believe he's not a billionaire anymore. That some heavy losses, bad deals, and debt have greatly eroded his wealth.

An individual's tax return does not show a person's debt. It does not show what the value of your assets are. The income on a tax return does not even give a hint as to the wealth of an individual.

80% of my work is with real estate developers. A developer can start a project and pretty much write off about 20-30% of the cost in the first year and depreciate the rest over 15-39 years. Even though the property goes up in value, the cost keeps depreciating until it reaches -0-. I've seen properties that have zero cost left on the tax return that are $50M in value. The only time a developer recognizes income is if he sells the property and keeps the cash. He can even sell the property, use the proceeds to invest in another property, and have -0- income from the transaction.

Anyways, the tax return says nothing about wealth, and for a real estate developer, it is always represents lower than what he actually makes because the tax code favors them. If I were him, I wouldn't release them either because its probably 1000 pages and he would waste time explaining everything in it. Easy for lifelong bureaucrats to show their two page return that has just a W-2 and a few contributions.

If a debt is written off, you have to show that as "income", no?

Not if its from rental real estate and you can roll that cancellation of indebtedness income into the basis of another rental property you own...IRC Section 108(c)

I'm telling ya, real estate developers hardly pay taxes.

Ahh, than he should show them. He could say, "SEE! DON'T BELIEVE THE FAKE NEWS!"

AlabamAlum wrote:eCat, you've become a full-bore, kool-aid-drinking partisan. Guess it happens to everyone eventually.

yea, it happens when I lose 4 years of pay raises to a horribly executed plan wanted by 1 party which they refuse to acknowledge was bad for millions of working Americans.

The National Shooting Sports Foundation (NSSF), the trade association for the firearms, ammunition, hunting and shooting sports industries, praises Secretary Zinke's swift action in scrapping the ban on lead by hunters and anglers in outdoor recreation that was passed on the final full day by the Obama administration.
"It's time to put ammunition back where it belongs; in the hands of hunters," Secretary Zinke said.

Zinke's actions, just hours into his first day on the job, preserves the ability of hunters and target shooters to participate in their traditions on the first day in office and illustrate his priorities.

"Secretary Zinke's rapid response to the previous administration's parting shot on hunters, target shooters and anglers demonstrates the true friend and common sense solutions we can expect from the Department of the Interior," said Lawrence G. Keane, NSSF senior vice president and general counsel. "The timing of the traditional ammunition ban on federal lands tells you everything you need to know about the decision. Likewise, the decisive action by Secretary Zinke tells you what you need to know and what we can expect from an Interior Secretary who himself is a hunter, angler and outdoor sportsman."

Zinke also signed an order re-establishing the Wildlife and Hunting Heritage Conservation Council. Originally chartered by President George W. Bush, the Council ensures sportsmen have a formal role in making recommendations on policies affecting hunting, fishing and shooting access and wildlife conservation.

Additionally, the Secretary announced he would appoint a senior political appointee who will handle sportsmen's issues on the Secretary's senior staff.

The NSSF led the sharp denouncement and reversal of former U.S. Fish and Wildlife Service Dan Ashe's Director's Order 219, which called for the outright ban of the use of traditional ammunition and fishing tackle on federal lands in five years. Since the announcement, there has been a steady and growing appeal to strike down the order. The decision was drafted without input from industry and conservation groups, cited no scientific evidence upon which the decision was based. In fact, the order called for immediate implementation if any evidence was introduced, regardless of scientific value or verifiability.

You were always the non-conformist libertarian rebel.

You're Trump establishment now!

AlabamAlum wrote:You were always the non-conformist libertarian rebel.

You're Trump establishment now!

I don't know about that.

Think about how many times I've ranted on here about immigration, fair trade, not free trade (definitely not a libertarian thing) and a living wage - and this has been like 10 years.

How could I not be all in for Trump?

the two most non libertarian things about me are fair trade and national parks. Well, I'm not a war hawk either and I have a problem with killing Americans without due process too

Look, I know Trump is going to fuck some shit up - but we needed a recalibration. No one else was willing to do it.

it happens....

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"the two most non libertarian things about me are fair trade and national parks."

Don't forget drug legalization...

hedge wrote:"the two most non libertarian things about me are fair trade and national parks."

Don't forget drug legalization...

I'm probably more a hard line on those two than I am drug legalization

This Sessions thing has surely struck a nerve. Maybe because his is such a bald-faced lie that there's nothing left to do but deflect. Holder did this! Hillary did that; Bill did the other thing! Oh, and Claire McCaskill's tweets!

first meeting was a group of ambassadors saying hey you in a hallway

second meeting a little more substance in September obviously. boris bedanov and session plotted the overthrow of Hillary by colluding with putin and comey laying the groundwork that day to swing the election by bringing down the PAH through the wisconcin/Michigan/Pennsylvania/ohio Russian roulette plan .

there that ought to be enuf hysteria for you tics to jack off about

sardis wrote:The liberals realize they are on the wrong side of public opinion on globalization, trade, immigration, and Obamacare, so to circumvent public opinion, and hopefully impeach an elected President, they will ride this Russian thing all the way because that is all they have.

It's a given that you're a patriotic American, sardis, so if there's anything to this Russian business I know you'll come around. If and when the excrement hits the rotating blades it'll be God, family, country, & then party - and in that bygot order, gotdammit.

You'll do the right thing. And that goes double for crash..

You just proved my point.

heh

sardis wrote:The liberals realize they are on the wrong side of public opinion on globalization, trade, immigration, and Obamacare, so to circumvent public opinion, and hopefully impeach an elected President, they will ride this Russian thing all the way because that is all they have.

That is because public opinion (the people) are all just.... racist. Why even dignify them? All the people in the middle and (especially) the southern parts of this country are all just... wrong. They shouldn't even have the right to vote (certainly not a right to vote in states that can collectively neutralize all the electoral/popular votes from progressive places like New York, DC, and California.)

Alas, not much has been proved yet.

Really has to make you wonder why Flynn got fired and Sessions just neutered himself. Tell us how the libs have pulled all this off sardis.

Fucking idiot

Jungle Rat wrote:Fucking idiot

Who?