Trump lacks the money to self-finance, subjecting himself to the same pressures he has claimed to abhor. https://t.co/ZVzLTiMiw0
— Steve LeVine (@stevelevine) May 15, 2016
Well, the reactions to this analysis should be interesting. The Wall Street Journal goes there — “As Trump moves to raise big sums, an estimate of his 2016 income shows it short of the big money needed for general election run”:
… When his campaign began last summer, a financial disclosure Mr. Trump filed said he had between about $78 million and $232 million in cash and relatively liquid assets such as stocks and bonds.
That would go fast if Mr. Trump spent an amount close to the $721 million President Barack Obama spent in 2012 up to Election Day, or the $449 million Mitt Romney spent in the same stretch.
This would leave hundreds of millions to be made up. And Mr. Trump’s businesses don’t produce that much in a year, a Wall Street Journal analysis shows. His 2016 pretax income, according to the analysis, is likely to be around $160 million.…
The Journal analysis is based on 170 items of “employment assets and income,” such as real estate, golf courses, management companies and licensing deals, listed in the financial disclosure form Mr. Trump filed last July. The Journal estimated how much pretax income each item should yield this year, relying on public documents and interviews with dozens of former and current Trump Organization executives and people who are familiar with his businesses.
In the absence of Mr. Trump’s tax returns, which he has declined to release, the analysis helps answer a question many wonder about: just how much the candidate earns…
The cash issue looms now because the political season is growing more expensive. The Trump campaign spent about 50% more in March than in February, facing higher expenses for field workers, telemarketing and voter-data operations.
Mr. Trump noted that once the general election campaign begins, the Republican National Committee will be spending heavily on his behalf. The RNC spent $386 million during the 2012 presidential campaign. A clutch of other entities such as political-action committees spent $419 million to back Mr. Romney.
This year, officials at some big Republican PACs are saying they are going to turn their funds toward keeping the Senate and House in the Republican hands, meaning their support for Mr. Trump could be diminished.
On the other hand, legal changes since 2012 make it possible for political parties to raise larger individual donations, via joint fundraising committees with their presidential candidates. Such a joint fundraising committee is what Mr. Trump said in early May that he planned to set up with the Republican Party…
And aren’t the Permanent Repub Party bigwigs with their hands on the purse strings — not to mention the ones required to fill that purse — going to enjoy giving the short-fingered vulgarian their money to waste on futilely challenging Hillary Clinton?
The whole article (I found it by Googling its title) is replete with the sort of details that will fascinate wonks, but it reinforces what non-Trump-partisan observers have been saying since Deadbeat Donald first rode that gilded escalator to announce his run: While $160 million (more or less) would be a more-than-satisfactory income to you or me or most normal human beings, it’s nowhere near enough to qualify Trump for “Really Rich Person” status. Assuming he started this shitshow in the first place to enhance his brand/salve his Obama-wounded feelings/bigly assert his yoooge hand size, the media response to this it will not be fun for him. Watching his noisy rage should provide some tasty schadenfreude for the rest of us, though!
DCrefugee
The way he acts/reacts about every little thing…I think I dated his long-lost sister in an earlier life…
rikyrah
Of course he is lying about the size of his fortune
Gin & Tonic
Trump lies about everything. That’s not new. What’s remarkable is that nobody ever calls him on it.
dr. bloor
Anyone who was dumb enough to believe that he was ever going to pick up the tab for a POTUS general election run will be too dumb to be fazed by this.
Tilda Swinton's Bald Cap
This guy’s seen them. Interesting article.
Ruckus
Is drumpf lying?
Let’s see, let me think, why Yes, yes he is.
That wasn’t so hard was it?
It’s a constant with him. I’d say that chances are about 80% or better that if his lips are moving, he’s lying. Especially if he’s talking about himself.
Wag
Yes, he is. Why else the refusal to release his tax returns? Hilary has released all tax returns back to 1977
SarahT
Someone really needs to get a trend going (along the lines ot the “Is Ted Cruz the Zodiac Killer” thing) re, Trump’s finances. He’s so thin-skinned and so obviously insecure about his money – IMHO something like #brokedicktrump or #istrumpbroke would really enrage him. Maybe his head would explode ? Anyway, it would be fun to watch.
Wag
@Ruckus:
You’re being too generous. He only hits 20% true if you give him credit for half truths. Mostly true and true only gets him to 12%.
http://www.politifact.com/personalities/donald-trump/
Eric S.
@Ruckus:
I was unaware he ever talked about anything else.
scav
@SarahT: Something like
only pithier?
gf120581
I’ve imagined that’s the biggest reason why he’s refusing to release his tax returns (but not the only reason by any means). He doesn’t want to admit that he’s nowhere near as rich as he likes to pretend he is.
At least he has Sheldon Adelson ready to throw some money his way. Adelson dumped a ton of money into Newt Gingrich’s campaign last time around, so burning money like the Joker in The Dark Knight is something he’s perfectly cool with.
Benw
I’ll act like an asshole in public for a lot less than $160M
SarahT
@Benw: LOL. I’ll act like an asshole in public for $16m and an open bar
Mai.naem.mobile
Trump is a big fat lump of a liar. The GOP candidates running against this maroon were so incredibly stupid not to throw this crap on him way back. The cowardly doofus would have walked away.
Glidwrith
@SarahT: If I only have to do it once, $2M is fine, no alcohol required.
Eural Joiner
Gotta say – I’ve engaged with friends and family who are Trump supporters about his lying and ethics and hypocrisy and racism, etc. etc. etc.
They. Don’t. Care.
Mai.naem.mobile
I am wondering at this point if the Clintons have a greater net worth than Lumpy Dumpy Trumpy.
Anne Laurie
@gf120581:
According to professionals who know Sheldon Adelson’s track record — like Jon Ralston –Adelson’s also got a history of promising politicians much more funding than he ever delivers (as IIRC Gingrich’s campaign creditors discovered). Trump may not be a very good casino owner, but he’s surely been around the biz long enough to know that Sheldon’s promise of millions is worth not much more than Trump’s own promises…
gf120581
@Eural Joiner: The hardcore supporters won’t, just like hardcore supporters of any politician. He could strangle a puppy right in front of them and then proceed to eat it and they’d still back him.
Everyone else, however, is another story.
WaterGirl
@Ruckus:
Is that if he is talking about himself as Donald Trump, or talking about himself (Donald Trump) while pretending to be someone who is not Donald Trump? :-)
gf120581
@Anne Laurie: Good point.
It would be the height of hilarity if Trump’s campaign sinks not because of his loathsomeness or offensive behavior, but for lack of funds. You really wonder how many big money GOP donors are going to want to throw money down this sinkhole, especially after how they got burned in 2012…and that was with a candidate who was at least plausible to see as a victor in Mitt.
FlyingToaster
@Eural Joiner: We’re not worrying about the lumpenproletariat.
We’re trying to get to The Village.
You want Joe Scar, Chuck Toddler, Halperin, Kristol, and the entire staff of Breitbart asking,
“Is Donald Trump broke?”
It’s like the Doctor asking about Harriet, “Doesn’t she look tired?”
Omnes Omnibus
@gf120581: I find it sad that you had an opportunity to type skull a kitten in context on this blog and you chose not to do it.
Keith P.
Trump has also been claiming a property tax break that requires recipients to make less than half a million per year, so there’s an even lower income estimate.
I’m looking forward the first time someone says “Mr. Trump, you’ve said that because you self-fund, you are not beholden to anyone. Aren’t you now beholden to Sheldon Adelson?”
Anne Laurie
@Eural Joiner: Yeah, but they don’t care because Trump is a Rich Successful Businessman (saying all the nasty things they’d say if it wouldn’t get them disbarred from most social settings). If Trump’s just another broke-arse luzer (like them) who’s lying about his yooooge bankroll to protect him from the pushback people like you give people like them, well…
SarahT
@Glidwrith: Low self-esteem. Sad. :)
The Ancient Randonneur
I’ve acted like an asshole in public for a lot less than $160. It was in my younger days and always happened payday evening …
gf120581
@Omnes Omnibus: Violence against dogs upsets me more than that against cats. Personal preference. ;)
@Anne Laurie: Even worse, he comes off looking like a lying con artist. Which he is, of course, but there are few things that could be more fatal to the image his followers have of a Big Tough Strong Rich Man Who Gets Things Done.
RandomMonster
Perhaps we should just ask what Trump hasn’t lied about?
Schlemazel Khan
Trumps bank book can’t be very big or else he couldn’t hold it in his tiny, tiny hands.
I have known a few small time real estate developers, mini-Drumpfs. if you will. They tend to go through boom and bust cycles but they have the same act. They come up with some ‘brilliant’ idea to develop & get a bunch of people to put up money to fund the project. If the project takes off they make a shit-ton of money and everyone is happy. If the thing fails they file bankruptcy and leave everyone else holding the bag. Yeah, they are short on funds for a bit but it is the investors that take it in the shorts. Those guys are near as rich as they pretend, the act is necessary to attract suckers for the next project.
Keith P.
@RandomMonster: At this point, I’m having serious doubts that Trump ever went to Wharton, and possibly that Wharton even exists.
Ultraviolet Thunder
In a FB political argument today, I forget which one as they all blur together, someone stated that they prefer Trump to HRC because Trump would ‘work with’ a GOP legislature. I was astounded. Since when has he displayed the ability much less the willingness to ‘work with’ anyone? He’s a bully and an autocrat. Give orders to others, sure. But it’s his way and no other. I’d like to see him try to find a compromise with other politicians, except I really really don’t want him to be in the position where I could see that.
Villago Delenda Est
The Donald is lying about “self financing”?
I’m shocked, shocked!
BruceFromOhio
@Eural Joiner: This is interesting. I’m curious if they have the same attitude about the Democratic challenger.
I’m finding in my own entirely-non-scientific examination of the Dumpster Fire, support breaks into three basic areas: a) unmitigated hatred for Clinton, b) “real” conservatives, i.e. tribal voting for the Republican irrespective of anything, and c) nasty, hateful people who really dig the cover to get their hate on.
The few Bible-thumpers I’ve encountered seem to fall into a) and b). The ones who seem most honest about their support tend to claim a).
This election is truly going to hinge on getting to the polls.
Villago Delenda Est
@RandomMonster: The list would be infinitely shorter than what he has lied about, fer sure!
Glidwrith
@SarahT: Nah, cheap AND easy. Besides, I compensate with my yoooge automobile (I drive a Spark).
Villago Delenda Est
@BruceFromOhio:
Which why it is so heartening that Hillary has shamelessly cut and pasted Obama’s GOTV efforts from 2008 and 2012.
? Martin
Pff. Trump’s loaded! He’s been known to blow more than that in Atlantic City.
SarahT
@scav: ha ! Definitely. Pithy enough for a bumper sticker or a hashtag
? Martin
@BruceFromOhio: a) and b) are exactly the same thing. You can tell by how rapidly they give up on their policy imperatives. Their objection to Trump isn’t that he has the wrong view on trade or abortion, it’s that he’s to outwardly racist and sexist and not subtle like Reagan was. They’d all have signed on in a second if Bush had proposed Obamacare exactly as presented.
burnspbesq
It’s a damn shame this isn’t (apparently) going to happen. The emtertainment value …
http://espn.go.com/nba/story/_/id/15549168/mark-cuban-dallas-mavericks-owner-says-was-asked-run-alternative-conservative-candidate-donald-trump
smith
Unfortunately, I don’t think that any revelations about Trump’s lying or any spectacle resulting from his acting out will peel off any support from his hard-core supporters. I think a lot of his appeal to them is just simply from the fact that he’s on TV, and for a lot of Americans you are important if you’re on TV. Thus the humiliations some ordinary people will endure to get on camera, and also the otherwise inexplicable reach of the Kardashians. And people who are fans of reality TV are used to putative adults behaving like petulant children, and may actually see it as normal behavior for the people important enough to be on the TV.
SarahT
@FlyingToaster: Exactly. Get the MSM to actually do some work and question Drumpf’s finances.
Iowa Old Lady
From a friend who was a delegate at the NV caucus this weekend:
James E Powell
@BruceFromOhio:
For quite few people, Hating on Hillary has been part of their political identity for so long that it’s immutable, like eye color or right-handedness. They are impervious to facts or reason. Unfortunately, many of them work in the corporate press/media. They represent Donald Trump’s only hope.
Villago Delenda Est
@SarahT: Good luck with that. Chuckles the Toddler would rather die than actually do that sort of work.
SarahT
@Glidwrith: Now THAT’s living the high life !
James E Powell
@SarahT:
I remember back in 2000 saying much the same thing about Bush & Cheney. But the times were good and one half of the nation just wanted to have a beer with a rich guy.
Andy
@Iowa Old Lady: –Thanks for the Spin.
SarahT
@Villago Delenda Est: Not Chuckie the Todd, maybe, but if the topic is trending enough some of our esteemed media would pay attention long enough to ask Trump, er, John Barron about it.
SarahT
@James E Powell: I hear you. But it would be entertaining to try.
Iowa Old Lady
@Andy: Yeah, I’m sure that’s what she saw, but as you say, it’s filtered through her own beliefs. She didn’t say who she was a delegate for, but I’m pretty sure it’s Clinton.
FlyingToaster
@Villago Delenda Est: Oh, if everyone else were doing it, he’d get with the program. Chuckie doesn’t want to be left out.
rikyrah
‘Not about bathrooms’: Critics decry North Carolina law’s lesser-known elements
Source: Washington Post
DURHAM, N.C. — In this state where the modern bathroom wars began, some church and civil rights leaders have begun to spread the word that there’s plenty else to worry about in the controversial new law known formally as the Public Facilities Privacy and Security Act.
The law not only reverses a Charlotte ordinance that had extended some rights to gay and transgender people. It also prevents city and county governments from setting a minimum-wage standard for private employers and limits how people can sue for discrimination in state court. And it contains a provision allowing for remaining parts of the law to stand if others are struck down in court.
Those provisions, opponents say, are pernicious attempts to roll back rights, and they have been tucked into a bill that has a very different public face.
“This is really a devious bill that harms workers under the guise of regulating bathrooms,” said Harold Lloyd, a professor at Wake Forest University School of Law.
rikyrah
Florida Senate GOP Candidate Calls Obama An ‘Animal’
May 14, 2016
WASHINGTON — Carlos Beruff, a Republican candidate for the U.S. Senate from Florida, repeatedly referred to President Barack Obama as an “animal” at a county GOP meeting on Thursday.
Addressing party faithful at a St. John’s County GOP gathering, Beruff accused Obama of destroying America and its military.
“Unfortunately, for seven and a half years this animal we call president, because he’s an animal, OK — seven and a half years, has surgically and with thought and very smart, intelligent manner, destroyed this country and dismantled the military under not one, not two, but three secretary of defenses,” he said. “And they’ve all written books about it.”
“Sooner or later, you’re going to find, this was a plan, he wants us to be just another country. I don’t want to be another country. I want to be the United States of America, the greatest country in the world,” he added, garnering a round of applause.
Beruff is one of five Republicans vying to replace retiring Sen. Marco Rubio (R-Fla.). A member of a South Florida water board with a real estate background, Beruff has been compared to both Donald Trump and Florida Gov. Rick Scott (R), who endorsed the presumptive GOP nominee earlier this year.
Last month, Beruff called for a ban on travel that goes even further than Trump’s controversial proposal to block all Muslims from coming to the United States — banning all people from the Middle East from entering the country.
rikyrah
“I’m not stupid, Okay” – Trump tells British PM Cameron
Source: Jerusalem Post
Presumptive US Republican presidential nominee Donald Trump said he hopes to be able to work with British Prime Minister David Cameron in spite of Cameron calling the Republican candidate ‘stupid, divisive and wrong’ on his stance on Muslims.
“It looks like we’re not going to have a very good relationship. Who knows! I hope to have a good relationship with him but it sounds like he’s not willing to address the problem either,” Trump said in an interview with Piers Morgan, recorded on Friday and due to be aired in full on ITV on Monday.
“Well, number one I’m not stupid, Okay. I can tell you that, right now – just the opposite. Number two, in terms of divisive: I don’t think I’m a divisive person. I’m a unifier, unlike our president now (referring to President Barack Obama), I’m a unifier,” he added.
Ruckus
@Wag:
I was being generous.
I knew that giving him 20% meant that I didn’t have to do any checking or linking.
WaterGirl
@rikyrah: Wow. President Obama isn’t just an animal, he’s a traitor to our country? Got it. These people scare me. I can hardly wait to see who the other 4 candidates are. Do we even have a democrat with a decent chance of winning that senate seat?
I surely hope this is the pendulum going as far in one direction as it can go before it swings back.
Ruckus
@Eric S.:
He lies about lots of stuff. He references his bloated, demented ego in there in relation with whatever he’s talking about, which would lead you to believe that he only talks about himself but there are other subjects.
Anne Laurie
@Andy: It ain’t just ‘Hillary-bots’ complaining about the Sandernistas’ behavior in NV.
rikyrah
Morehouse College Honors 3 Valedictorians for First Time in History
The three scholars, one of them white, each graduated with a 4.0 GPA.
BY: ANGELA BRONNER HELM
Posted: May 15 2016 11:53 AM
Today, as the Morehouse College Class of 2016 celebrates its 132nd graduation ceremony, it will honor three young men who collectively have been named its valedictorian—including one young man who is not black.
Liam R. Davis, Ian Niemeyer and Willie J. Thompson each graduated with a 4.0 grade point average from the nation’s largest liberal arts college for men. Founded in 1867, Morehouse enrolls approximately 2,100 students and historically has conferred more bachelor’s degrees on black men than any other institution in the world.
“The honoring of three of our graduating seniors jointly as valedictorian serves as one proud and significant example of Morehouse College’s commitment to academic excellence—which also ties to one of the College’s strategic focuses of acuity,” said John Silvanus Wilson Jr., president of Morehouse College to the Morehouse NewsCenter.
ThresherK
@James E Powell: How many cardiac incidents can you have as a Republican before having to fess up to at least one before Election Day?
The world may never know.
gf120581
@WaterGirl: Yes. Patrick Murphy, the leading Democratic candidate, leads all potential GOPers last polling. Beruff is probably the least likely candidate to get the nomination anyway (his opponents include the Lt. Guv and two House Reps).
Murphy needs to dispatch Alan Grayson in the primary first. Grayson wins that primary, he may well become our very own Todd Akin/Richard Mourdock and lose us a very winnable contest.
The Sheriff's A Ni-
@gf120581: Dingdingding. Trump’s publicly crowing about Adelson’s support as if somehow this was something of a victory. Meanwhile, the Kochs continue to stay on the sideline and I can’t imagine Mitt Romney’s offering up his donor list any time soon. Throw in Il Douche’s insistence on doing things his way, and, well, remember when the McCain campaign ran out of funding?
mike in dc
He’s clearly worth way less than 10 billion if they’re pegging his income at 160 mil. Might be worth less than a billion.
Chyron HR
@rikyrah:
Freddy Boner was right, you liberals are always crying racism to mask your contempt for the good, honest, noble common man.
The Other Chuck
@rikyrah: I’m sick of living in a country that wallows in and celebrates such ugly hate every four years.
amk
@rikyrah:
He is stupid and doesn’t know what he is doing.
He is smart and knows exactly what he is doing.
#ODS
Iowa Old Lady
@mike in dc: Yes but the dollars he has are the best dollars, beautiful dollars.
AkaDad
I’ve acted like an asshole in public just for the favor of holding my beer.
daves09
@FlyingToaster: If his return on capital was 87 million his net worth must be south of a billion. And if his other income is from non-tangibles, his brand is worth nowhere near 10 billion- oh Donny, Donny, could you have misspoken?
?
dmsilev
Speaking of Trump and income, this is pretty amusing and an example of what happens when some journalists decide to actually do some journaling:
Someone should ask him how it feels to earn roughly 1/300th as much as Hillary Clinton did.
debbie
@amk:
With the surgical skills of Ben Carson!
Mike J
@dmsilev:
It’s entirely possible Bernie was earning more than Trump. His $175 from the senate, wife’s $200k from bankrupting a school, pension, social security, etc.
RealityBites
Someone sufficiently deadpan/snarky needs to work the old “leprechaun” joke into an attack on Trump. Call him out in “big” way. (Pun intended).
A man sees a leprechaun in a bar on St Patrick’s day. Women are flirting with the leprechaun and buying him drinks. The man says, “they’re really nice to you for the holiday.” The leprechaun says, it’s not just St Patrick’s day, my boy. Women love leprechauns year ’round. When you’ve got the pot of gold, size doesn’t matter. ”
Then the joke teller laughingly demands that Trump show what he’s got. (As in pot of gold/tax return)
sm*t cl*de
@Keith P.:
I hope you are not holding your breath.
SarahT
@AkaDad: LOL
dmsilev
@Mike J: I could imagine that he personally doesn’t have much income, and instead the money flows into a bunch of companies that he controls and that pay for his jet and supply of gold leaf and so forth as ‘business’ expenses. And so, his personal tax return will show a small number (by Trumpian standards) and that’s why he’s resisting releasing it.
germy
http://www.esquire.com/news-politics/news/a44895/gop-mark-cuban-against-trump/
NotMax
Untethered from reality, as in this Trump interview snippet.
Oh, and Fortune magazine’s Donald Trump Net Worth Calculator.
sm*t cl*de
Successful cas1n0 operator buys out failed one.
dmsilev
@germy: “We need a blustery loudmouth! But with substance! And empathy!”
I would have been disappointed had Bill Kristol _not_ been involved in this genius plan.
Chyron HR
@germy:
They… they know he’s white, right?
the Conster, la Citoyenne
@Mike J:
Bernie and Trump won’t release their tax returns because Sanders doesn’t want people to know he’s much richer than he is, and Trump doesn’t want people to know he’s much poorer than he is. They’re two sides of the same coin.
germy
@dmsilev: Bill Kristol… is he genuinely an unintelligent person? He literally is never right.
@Chyron HR: Nice jaw, a TV presence. Likes Ayn Rand. Plus a last name that would appeal to the Hispanic vote? Is this what they were thinking?
Ruckus
@sm*t cl*de:
History does repeat itself. Four times
WaterGirl
@gf120581: Your paragraph 1 – great! Your paragraph 2 – bummer. I used to like Alan Grayson but that time has long since passed. I hope Patrick Murphy is our candidate. Is there much hope of that?
Jeffro
@Gin & Tonic: I think our often-bamboozled media is learning how to do this…baby steps…
It’s quite obvious that Trump has been a) paying no taxes period for quite some time and b) is worth much less than he says he is. His supporters might not care a whole lot about the latter, but for the former…paying NOTHING? Only the hardest of the hard core is going to see that as a sign of strength, especially once they’ve all been subjected to six months’ worth of ads about “yet another billionaire not paying his fair share, and passing the cost on to the rest of us.”
ALSO (OT): nice to see Obama using commencement speeches to advance the argument – that we have made a ton of progress as a country overall and also in the past seven years – while he waits for Clinton v Sanders to resolve itself. He’s landing some nice punches on the big picture issues while waiting to go to bat for the nominee. I do like this NFLTG version of the Prez, I do.
Ian
@Ultraviolet Thunder:
Not just any politicians, but these gop politicians.
I'mNotSureWhoIWantToBeYet
@dmsilev: Yup.
David Cay Johnston:
Property developers have all kinds of benefits in the tax code. Trump claiming a tax benefit for people earning < $500,000 per year says almost nothing about what his "real" income is. And even his "real" income is probably gamed some way or another.
Cheers,
Scott.
BillinGlendaleCA
@Jeffro:
That’s pretty much David Cay Johnston’s take on it in an interview, I think, with LOD.
BillinGlendaleCA
@I’mNotSureWhoIWantToBeYet: You’re faster than I am.
ETA: IIRC, he also talked about borrowing against those assets for non-taxable income as well.
gf120581
@WaterGirl: Yes. He’s the likely nominee. Grayson’s kinda self destructing right now and no one in the party wants him. Obama and Biden personally endorsed Murphy.
Murphy may be a Blue Dog-type (he’s a former Republican who quit the party out of disgust at the crazies), but he’s ideal for winning statewide in FL. He’s also the man who kicked Allen West out of the House, so give him cred there.
I'mNotSureWhoIWantToBeYet
@BillinGlendaleCA: :-) I was surprised I found his name. I know we’ve talked about DCJ and Trump before, but it wasn’t coming up quickly on a search here, and my medium-term memory isn’t as snappy as it used to be…
GMTA!
Cheers,
Scott.
Donut
@Eural Joiner:
Dude flat-out said that he could shoot a motherfucker in the street and it wouldn’t hurt his support. He’s right. I’ve seen no evidence otherwise.
Thing is, it’s a good idea to keep pushing out and circulating negative stories about him. There are, weeping baby Jeebus help us all, still enough tools in the voting pool who won’t start paying attention until the fall, and some of them are persuadable in either direction. Better that we make sure they encounter as much as possible that makes them question Trump. That’s all.
hueyplong
Adelson: My credit good enough to buy you out?
Donald “Moe Greene” Trump: Buy me out?
Adelson: The hotel, the cas1n0, the campaign, the silly TV show. The Adelson Family wants to buy you out.
Trump: The Adelson Family wants to buy me out? No, I buy you out, you don’t buy me out. I’m yuuuge. I could shoot one of your flunkies on 5th Ave and my numbers would go up.
Adelson: Your cas1n0 and your campaign lose money, maybe we can do better.
Trump: You think I’m skimmin off the top, Sheldon?
Adelson, shaking his head: You’re unlucky.
Trump: Those bankruptcies were just me being smart. I made money even if no one else did. And [indicating his hands] don’t believe everything you hear. I’ve got no problem in that department.
Adelson: I leave for New York tomorrow. Think about a price.
BillinGlendaleCA
@BillinGlendaleCA: My memory was correct, it was on LOD on 3/3/2016.
ETA: Laurence also talks to a former IRS commissioner, and DCJ notes that Trump hasn’t given any money to the Trump Foundation in the last decade(from the Foundation’s tax filings).
hueyplong
We’ve got 6 months to go. Trump will say any number of things that could be The One that starts his numbers on a downward spiral.
rikyrah
@? Martin:
I have said it over and over:
The problem that they had with Trump was NOT in his policies.
I repeatedly asked for folks to tell me the DIFFERENCE IN POLICY between him and the GOP.
Nobody ever told me.
They were mad because he did not use the dogwhistles that they and the MSM hide behind
Elie
@Iowa Old Lady:
Uh-oh — The WA state Congressional Caucus is next week and I am a Hillary delegate for my Congressional District. Did she say how it turned out? At the County Caucus there was a some Bernie showboating but it was pretty within bounds ultimately with no one getting shouted down or such. Their numbers overwhelmed Hillary’s anyway so maybe no need? Anyway. State Caucus is in June….
Elie
@rikyrah:
This this this…
And because dog whistles no longer protect the squeamish country club white supremacists, they have to rub elbows with all the red neck white supremacists and other undesirables who are obviously the ditch cleaners they don’t want to appear to be (and yet are). I think its great…I hope they all come out. We can give them their own state and they can get their white groove on — burn a few crosses and run around in hoods demanding that they get top jobs and top pay in the world and that the world better be afraid of them cause they are Numba One (foam finger aloft). All those Village elites have No desire to eat jello molds and white bread sandwiches with the rif raf….
Iowa Old Lady
@Elie: She was home and really irritated, but in the long run, things worked out. You have to report to us on what goes down in WA.
gene108
@I’mNotSureWhoIWantToBeYet:
In theory the tax benefit you gain from depreciation should reverse. The rate of depreciation for tax purposes is usually more, during the early life of an asset, than the depreciation for financial reporting purposes.
At some point the depreciation on the books becomes greater than what is reported for taxes, so you end up owing money.
There are probably many strategies to minimize or avoid the tax liability before it comes due, but in theory the tax effects of depreciation should be a two way street, with a person gaining benefits in early life of the asset and incurring tax liabilities later on.
sinnedbackwards
@Ultraviolet Thunder:Over the years businessmen and military leaders*, used to a life of getting their orders obeyed, have often shown little political ability.
It seems a life in politics (or community organizing!) is a much better preparation for the negotiating, give-and-take, partial movement reality of sausage making.
IMO, Drumpf is disqualified by coming out of the business culture.
*(I think Ike is a partial exception because (a) he was essentially holding a political position dealing with Montgomery, DeGaulle, and the rest, and (b) he wasn’t really a Republican. After all, he was turned to as the not-Taft by a party that was tired of losing. I think the military-industrial complex speech should be a required course in High School.)
I'mNotSureWhoIWantToBeYet
@gene108: “In the long run, we’re all dead.”
;-)
Depreciation seems to me (someone who isn’t a tax expert and someone who hasn’t thought deeply about this) to be something that is too easy to game to be a fair benefit (especially for those who can’t claim it). Like the “oil depletion allowance”, also too. Any depreciation should be based on the value of the thing if it were sold as a transaction between a willing buyer and a willing seller. But even then, it would have to be done carefully as what would you do on “losses” that were never realized? (E.g. If the ex-Sears Tower were worth $1B in 2006 and were worth $500M in 2009 and were worth $1B in 2012, should whoever owned the building in 2009 be able to claim depreciation based on a $500M “loss”?) It seems to invite abuse (what if the thing invested in is unique and nobody else would ever want to buy it?).
My business property tax system would be something like: Pay taxes on realized gains and losses (over some reasonable period of time), get credits for actual investments (over some reasonable period of time), and be done with it. Companies selling assets and then leasing them back seems to me be another avenue that must have been abused to the tune of billions as well…
But as I said, I’m no expert.
Cheers,
Scott.
Jeffro
@Donut:
It was one of those reality-check moments when you’re like, “This is something a real person really running for the actual office of POTUS said? Like, just off the cuff?”
And there have been so many such moments…it’s hard to list them all, the things that this cretin has thrown out there casually, like it’s no big deal.
Big difference between being a reality-TV blowhard and being the actual leader of the free world. If we keep up the pressure, enough folks might understand that to make this a historic blowout.
eclare
@gene108: Yes, but if he reported net operating losses due to depreciation, that could easily wipe out his liability for years. That is what has happened to a lot of large, capital intensive companies. Don’t know how old his assets are.
Omnes Omnibus
@sinnedbackwards: Once a person reaches O-7 and above, they are political players. One doesn’t get to the 3 or 4 star without some political skill.
MomSense
So the latest polling suggests 7 in 10 women hate Der Trumpf. If we are smart and work hard we could run up the score and win back the house and senate.
Don’t fuck this up Sanders. Get out now.
Omnes Omnibus
@MomSense: What does the penates polling say?
David ?Canadian Anchor Baby? Koch
Trump personally makes less than $500,000 a year
I imagine he has the money for licensing his name to hotels go to a holding corporation, for which he personally receives a 500K salary. But as to being a billionaire, I mean, actions speak louder than words. Would a real billionaire engage in penny ante fraud like “Trump University”? Would a real billionaire sell mail order steaks? Would a real billionaire sell hand warmers?
Omnes Omnibus
@David ?Canadian Anchor Baby? Koch: If he is a complete shit, he would.
Iowa Old Lady
@David ?Canadian Anchor Baby? Koch: That QVC-like victory speech still astounds me. How could an adult man running for president of the US fail to see that was ridiculous?
David ?Canadian Anchor Baby? Koch
@Iowa Old Lady: and then it all turned out to be lies.
He doesn’t own trump wine, just licenses his name. the steaks and water and magazine businesses he touted on stage were all actually defunct.
dmsilev
@Iowa Old Lady: The GOP Convention this July is going to be 4 days of Trump infomercial, non-stop. He’ll probably require all of the invited speakers to hawk at least one Trump product per five minutes of speech. Minimum.
MomSense
@Omnes Omnibus:
Hmmm. Good question. I’m a bit rusty on the subject. Do I have to make offerings before consulting the household deities?
Omnes Omnibus
@MomSense: It was there. I had to do it.
ETA: I do believe offering are suggested.
MomSense
@Omnes Omnibus:
This election season is going to test us all.
Omnes Omnibus
@MomSense: We’ll be okay. We just need to do the work. It is teed up for us.
MomSense
@Omnes Omnibus:
All I have right now is half a pint of coffee ice cream and I don’t think it is going to last much longer.
a hip hop artist from Idaho (fka Bella Q)
@Omnes Omnibus: And he’s nothing if not a complete shit. So he would.
Omnes Omnibus
@MomSense: Okay. Panic may set in. Take deep breaths. Do you have any other ice cream?
dmsilev
@MomSense: When I moved to the midwest, I was dismayed to discover that coffee ice cream was unusual enough there that grocery stores didn’t typically stock it and I’d have to go to an actual ice cream place to get the stuff. Was very sad.
sinnedbackwards
@Omnes Omnibus: I’ll assume that’s a military reference in the context. Agree high level military have some political skill, but that is in their context, just as high-level corporate success in public companies involves some political skills. Those skills are mostly organizational, which asses to kiss and whom to shiv.
Those are not often the same political skills as compromising, sausage-making, coalition building, and bully-pulpiting. Which is not to say that kissing and shivving aren’t also valuable to a career politician. We are necessarying and sufficientizing at this point, I would say.
Omnes Omnibus
@sinnedbackwards: If you want to write things, maybe you should have some knowledge about those things.
BillinGlendaleCA
@Omnes Omnibus: My God!, what do you want to do? Shut down commenting here at Balloon Juice. Having some knowledge about what you’re commenting about, sheesh!
columbusqueen
@Anne Laurie: And the Berniebots around here wonder why they get no respect. If Sanders’ supporters can’t be bothered to even pretend they’re part of my party while behaving like a brainless mob, they can go pound salt when they indulge in this kind of BS, & should not expect any efforts to suck it up to them. I and other Dems have bigger fish to fry.
Omnes Omnibus
@BillinGlendaleCA: Context matters.
Chip Daniels
I think Trump’s bankroll is actually a foil wrapped cucumber.
MomSense
@Omnes Omnibus:
I don’t but msybe if I leave some of the coffee ice cream out the gods will make more appear.
@dmsilev:
Oh weird. I never thought of coffee ice cream as a regional thing. I’m still mourning the end of Ben and Jerry’s lemon meringue pie ice cream. It was amazing- not too sweet, with bits of pie crust and swirls of a super light meringue swirls.
Villago Delenda Est
@sinnedbackwards: Don’t forget that Ike had plenty of experience dealing with primadonnas (Monty and Patton) and dealing with multinational forces. His negotiation and compromise skills were honed by his experience in WWII.
dmsilev
@MomSense: It was strange. I was once involved in a science-outreach thing where one of the demos we did was making ice cream with liquid nitrogen (works really well, and looks like a stereotypical witch’s cauldron with all the fog pouring over the sides of the bowl) and since we were catering to an office-working crowd, we made coffee ice cream. Really strong coffee ice cream. It was seen as quite the novelty, even putting aside the liquid nitrogen. Office workers loved it (“It’s like a frozen latte!”), but the occasional school group at the event weren’t quite so thrilled. Kids scream “ice cream! ice cream!”, and then take one bite and realize how bitter it is…
Can’t please everyone.
Omnes Omnibus
@MomSense: If no ice cream, do you have booze or pie?
NotMax
@MomSense
Rarely eat ice cream, but do get a craving once in a great while. Love pistachio, but next to impossible flavor to find.
Haagen Dazs makes a pretty good pistachio gelato. Only ever saw it in the market’s freezers once. Think they ordered it by mistake.
MomSense
@Omnes Omnibus:
I do have three bottles of red wine and an arrogant bastard. I can’t drink and I’m on a liquid diet for a few more days. I really must have crossed the gods to be in this predicament.
@dmsilev:
The bitterer the betterer!
NotMax
@Omnes Omnibus
Or booze pie?
MomSense
@NotMax:
Yum
burnspbesq
Speaking of sticking in the shiv, i enjoyed this. Especially the last paragraph.
http://krugman.blogs.nytimes.com/2016/05/15/orwell-does-cato/?module=BlogPost-Title&version=Blog%20Main&contentCollection=Opinion&action=Click&pgtype=Blogs®ion=Body&_r=0
TTT
@SarahT:
Dollar-Store Donald
Nickel and Dime Donald