….
It should be abundantly obvious at this point that Trump is not worth nearly the amount of money he claims to be worth. I suspect Mark Cuban is right that Trump is worth well less than one billion dollars. To be sure, however, an income tax return will not show net worth. What it will show, however, are business expenses and annual income.
There are a lot of very wealthy people who have high net worths who appear not to have a lot of income. But Trump is in a peculiar position. Trump is a brand. That brand is wrapped up in the Trump Organization, which is supposed to be a corporate entity.
If Trump released his tax returns, I suspect it will show that Trump has been commingling his personal income and corporate assets. For example, when Trump makes personal trips on his airplane to Mara Lago, is that a corporate expense or a personal one? And if the corporation covers the costs to the holding company for the plane, do they treat it as a deductible expense or is it attributed to Trump as a taxable fringe benefit.
Likewise, assuming Trump’s annual income shows he really could not have the cash flow to be making multi-million dollar loans to his political campaign, that’d raise further issues about commingling of corporate and personal assets. Once that is shown, a creditor or plaintiff could “pierce the corporate veil,” i.e. go after Trump personally for claims against his corporation.
….
- Discussion
-
Exactly right https://t.co/Jj5z6Ql3Zt
— Steve Deace (@SteveDeaceShow) July 28, 2016
It is all a lie – Trump is all a lie – his whole life has been a lie. He is insane.
Trump was a reality tv star, and reality tv is all fake. But Trump believes his own act and is still trying to fool people with it. Sadly, it looks like he is succeeding.
You must be logged in to reply to this topic.