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(Politico)   A Tornado warning has been issued for this columnist's home after a vortex formed from the spin he tried to put on the news of Trump's leaked tax returns   (politico.com) divider line
    More: Fail, Tax, Tax refund, Trump's finances, Wealth, Finance, tax refund, Trump's taxes, self-promotion  
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3084 clicks; posted to Politics » on 29 Sep 2020 at 1:10 PM (8 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook



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2020-09-29 11:43:46 AM  
The New York Times Confirms Trump Is a Genius
He may not be stable, but he has a coherent strategy for harnessing self-promotion for personal gain.


Found the place the writer scraped this from:

Fark user imageView Full Size
 
2020-09-29 11:45:05 AM  
Let it go, man. I mean, yeah, you're gonna get paid for this, but...have some f*ckin' dignity, dude.
 
2020-09-29 12:20:56 PM  
even if you want to go this route, non of these were Trumps ideas.
 
2020-09-29 12:42:16 PM  
"The coming debt payments the Times refers to ominously might or might not be easy to roll over into new loans."

Except that we know he can't get loans from anyone other than via Deutsche Bank, who probably did it to illegally launder money for Russians. So no, he's not likely to get more loans.
 
2020-09-29 12:46:48 PM  
You should actually read the article, it's not a knobslobber like the headline suggests.

The writer correctly identifies that Trump is a master of self-promotion and it is true that he has managed to keep this whole house of cards flowing and a whole lot of people believing he is a business mastermind. Awful piece of trash that he is, you have to give him that.
 
2020-09-29 1:03:17 PM  
So, The Times reports that he paid $750 in taxes in 2018 and 2017, and that he paid no taxes in 10 of the 15 years before that.

They also report that because of a change in law in 2009, he was able to get a 100% refund for the taxes he paid in 2005, 2006, and 2007 (the $73M refund).

So, did he actually not have a tax bill in the end for 13 of 15 years? Or are they counting those three years as part of the 10 of 15?

It doesn't really matter. He either paid no or de minimis taxes in 12 of 17 years, or 15 of 17 years.   I'm just curious.
 
2020-09-29 1:12:43 PM  
That was a veritable black hole of suck.
 
2020-09-29 1:13:18 PM  
His reasoning is so tortured that it's testifying against him in the Hague.
 
2020-09-29 1:13:42 PM  
Cuz Trump prepared his own taxes and gave himself tax advice...
 
2020-09-29 1:14:19 PM  

Quasar: You should actually read the article, it's not a knobslobber like the headline suggests.

The writer correctly identifies that Trump is a master of self-promotion and it is true that he has managed to keep this whole house of cards flowing and a whole lot of people believing he is a business mastermind. Awful piece of trash that he is, you have to give him that.


Fleecing idiots is not a particularly difficult skill to acquire. It just requires a measure of greed and lack of any basic morality.
 
2020-09-29 1:14:29 PM  
The only thing I am certain of is that the quality of illicit drugs are much more available, and potent than when I used to dabble.
 
2020-09-29 1:14:48 PM  
The author of that article is Mike Pompeo
https://www.politico.com/staff/john-f​-​harris

Fark user imageView Full Size
 
2020-09-29 1:15:20 PM  
FTFA: "Genius, in this context, means something more than "very smart." It means an ability to see connections and possibilities in circumstances that even people who are smart in conventional ways do not see."

*blink*

homersmrt.jpg
 
2020-09-29 1:15:28 PM  

Quasar: You should actually read the article, it's not a knobslobber like the headline suggests.

The writer correctly identifies that Trump is a master of self-promotion and it is true that he has managed to keep this whole house of cards flowing and a whole lot of people believing he is a business mastermind. Awful piece of trash that he is, you have to give him that.


I don't have to give Trump anything. He's a lowly huckster, who happened to start off with a better head start than the run of the mill snake oil salesman.

He's not a master of the self-promotion. He is a simple narcissist with no shame, who will never admit that he has ever made a wrong decision or comment.
 
2020-09-29 1:15:33 PM  

blastoh: even if you want to go this route, non of these were Trumps ideas.


I'd slightly curious if Trump pays his accountants, or he just cut and pastes tax returns from before word got out of his "payment schedule".
 
2020-09-29 1:15:57 PM  
So the line is "Trump is a genius" because he's been an immense failure at running businesses, to the point where he's lost so much money that he's effectively had no tax liability for the majority of the last two decades?

Oh,right, he's a genius because maybe he can refinance some of the hundreds of millions of dollars of debt that he's in (assuming the IRS doesn't add another $100 Million for Trump taking refunds he likely was not due)...
 
2020-09-29 1:16:29 PM  
The New York Times Confirms Trump Is a Genius

BS.  A genius wouldn't have gotten caught.
Hell, a genius wouldn't have put himself under the spotlight, which basically guaranteed that he would be caught eventually, or if nothing else, guaranteed that he would face more public scrutiny.
 
2020-09-29 1:16:35 PM  

blastoh: even if you want to go this route, non of these were Trumps ideas.


No, no, it's true. Trump invented tax fraud. He's clearly a criminal mastermind.
 
2020-09-29 1:17:45 PM  
tfa writer should be force fed dog turds.
 
2020-09-29 1:18:19 PM  

Gyrfalcon: That was a veritable black hole of suck.


I think reading that article gave me brain cancer. >.<

/If Im lucky just a migraine.
 
2020-09-29 1:18:33 PM  
Gonna be a lot of people on the TurboTax forums this year asking why their taxes are so much more than $750.
 
2020-09-29 1:18:48 PM  

Subtonic: Quasar: You should actually read the article, it's not a knobslobber like the headline suggests.

The writer correctly identifies that Trump is a master of self-promotion and it is true that he has managed to keep this whole house of cards flowing and a whole lot of people believing he is a business mastermind. Awful piece of trash that he is, you have to give him that.

Fleecing idiots is not a particularly difficult skill to acquire. It just requires a measure of greed and lack of any basic morality.


No business venture of his is successful.  It's an old adage but it's true; he bankrupted a casino, and he couldn't sell steak and booze to Americans.

His only success is using his name as currency, and even then he licenses it and someone else makes most of the money selling tacky shiat for impressionable morans.

It's like bragging because you outran a kid in a wheelchair.  Trump's business acumen falls apart at the slightest scrutiny.
 
2020-09-29 1:19:30 PM  

Quasar: You should actually read the article, it's not a knobslobber like the headline suggests.

The writer correctly identifies that Trump is a master of self-promotion and it is true that he has managed to keep this whole house of cards flowing and a whole lot of people believing he is a business mastermind. Awful piece of trash that he is, you have to give him that.


That does not make him a genius. Incredibly street-smart (perhaps) and exceptionally lucky, but not genius material in any sense of the word. The other side of his success as a self-aggrandizer, of course, is how remarkably stupid many people are.
 
2020-09-29 1:19:43 PM  
I'll bet in 1930s Germany there were articles with drivel like this about Hitler and how his methods were unconventional and therefore a form of genius
 
2020-09-29 1:21:43 PM  
WTF has happened to Politico?

I used to think they were a tad bit right, but not terribly overt about it.

Now they are full-on Trumpers. Even The Hill is less biased. And that's saying something.
 
2020-09-29 1:22:00 PM  
I got whiplash from reading that
 
2020-09-29 1:23:01 PM  
The golf course losses as accounted for in taxes don't provide a great window into their actual balance sheets, or their value as long-term assets.

Um, yes it does. That's exactly what happened. Trump said they're basically worthless and losing money to the IRS, then told Deutchbank that they're making money. That's fraud that 99% of other banks managed to pick up.
 
2020-09-29 1:23:27 PM  

HighOnCraic: The New York Times Confirms Trump Is a Genius

BS.  A genius wouldn't have gotten caught.
Hell, a genius wouldn't have put himself under the spotlight, which basically guaranteed that he would be caught eventually, or if nothing else, guaranteed that he would face more public scrutiny.


In reality, a true genius would use some feckless boob like Trump to do his bidding... you know, "a useful idiot" scenario.
 
2020-09-29 1:23:43 PM  
Yeah, still... 20 bucks is 20 bucks.
 
2020-09-29 1:23:46 PM  
FWIW: WSJ is doing the same thing on their Opinions page... Never bothering to ask the question, if he's such a genius, why didn't he release his returns 4 years ago. Oh yeah, because they're embarrassing because it proves he lies about his financial acumen every 5 minutes.
 
2020-09-29 1:25:20 PM  
I read the whole article as dripping with sarcasm.
 
2020-09-29 1:27:40 PM  

Farkin_Crazy: WTF has happened to Politico?

I used to think they were a tad bit right, but not terribly overt about it.

Now they are full-on Trumpers. Even The Hill is less biased. And that's saying something.


Their triangulation is pretty unbearable.

They want to be seen as a smart publication, but also don't want to completely turn off Trumpers.  They try to toe the impossible line between Trumpism and old-school conservatism.
 
2020-09-29 1:29:50 PM  
he's no Bret Maverick, that's for sure.
 
2020-09-29 1:31:21 PM  
i.imgflip.comView Full Size
 
2020-09-29 1:31:36 PM  
He's such a terrible businessman that he had so many losses he could write off that he didn't have to pay any taxes for the past 15 years.

This is the economic genius the Trumpers worship?
 
2020-09-29 1:33:25 PM  
The New York Times Confirms Trump Is a Genius

Fark user imageView Full Size
 
2020-09-29 1:35:14 PM  

Quasar: You should actually read the article, it's not a knobslobber like the headline suggests.

The writer correctly identifies that Trump is a master of self-promotion and it is true that he has managed to keep this whole house of cards flowing and a whole lot of people believing he is a business mastermind. Awful piece of trash that he is, you have to give him that.


I remember in business law being taught about check kiting (which I used with varying degrees of success when I was a poor student and needed just a few more says until payday) and how it was a great way to not actually pay anything, so long as you could keep all the balls in the air, but at some point you simply can't (see Enron, every other pyramid scheme).

So, yeah. tRump's a genius just like Bernie Madoff...
 
2020-09-29 1:35:30 PM  
Trump is the king of the social media influencer crowd and pretty much the reason why that whole lot should be launched into the heart of the sun.
 
2020-09-29 1:36:56 PM  
Accountant:  We could do X, Y, and X and reduce taxes but they are illegal.
Trump: Hurrrrrr me like money derrrrr do all of them


Yeah. that's some Lex Luther level evil genius right there.
 
2020-09-29 1:37:12 PM  
I am a genius. I'm so smart, everything I touch turns to s***. Then I write off all of my losses and funnel the Russian money back in... oops wait did I say Russian money? I meant, I meant legitimate-sourced money and that's why I'm a genius. Many people are saying so.
 
2020-09-29 1:38:04 PM  
They buy off politicians, to manipulate the tax code so that it favors them exclusively, then pat themselves on the back for how smart they are for taking advantage of the loopholes they purchased. That's probably about as close as these cowards are willing to get to rubbing it in until they get their fascist state at which point they can legally mock poor people in public with zero consequences. Before I just wanted to tax the fark out of em to get this country back on track, but now I'm more and more willing to drop the hammer on these pig farkers out of pure spite.
 
2020-09-29 1:40:22 PM  
Trump's genius, as illuminated by the Times, isn't simply for self-promotion but for harnessing self-promotion to a coherent and comprehensive strategy for personal gain. Profit gets paid out in multiple ways: money, of course, but also reputational currency. The taxes also highlight his ability to fully merge his personal and professional lives, in which houses and jets and hair stylists become business expenses (in some cases suspect ones).

Genius? It's not even a new way to cheat on his taxes, ffs. SDNY is investigating him.

The criticism flowed simultaneously in two directions:

- Trump is a tax cheat, using unscrupulous schemes to avoid paying huge sums that the government is fairly owed.

- Trump is a phony, who really is not that great at business after all. His finances, the Times said, are "beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed." A CNN analysis by Stephen Collison said "Trump's image is a sham" and that he is "a pitifully inept businessman."

These two criticisms are not necessarily mutually exclusive, but they do jostle for primacy. There's no point to being a big tax dodger unless there is big money coming through the door.


I don't see the struggle for primacy. His properties can't support his suspicious loans and the only reason he can profit off of them is by cheating the taxes.

I'm going to say this analysis is kinda bullshiat. At best, tax "dodging" doesn't make you a genius even if the dodge involves your infamous vanity. At worst, it's tax evasion and there's still no genius involved.

Stupid.

But there aren't other people who have so artfully integrated their financial strategy with their life goals and rode that all the way to the presidency. There is a genius in that.

His "financial strategy" has been to con others out of their money, dipshiat. Trump steaks?? Trump U??? wtf is this?

And he rode racism and Russia to the WH and there was not a bit of art in it.


omg what a shiat piece of cock gobbling.
 
2020-09-29 1:41:07 PM  
So he's exploiting the loopholes, making him a genius, like the rich do.

The difference is the rich do it by choice, Trump is doing it by necessity, because he's a bum and a colossal failure of a businessman. He's expensing everything and paying no taxes because every property he owns has been losing tens of millions every year for the past decade.

In fact he's not even exploiting the loopholes. He's using them correctly because he legitimately is losing millions of his and other people's money constantly. Problem is he's burned every entity that would loan him money now... and they're all collecting in a handful of years.

Him and his family's legacy is being flushed in real time, the Presidency is only delaying it by a few years.
 
2020-09-29 1:42:03 PM  

JustSayYo: Quasar: You should actually read the article, it's not a knobslobber like the headline suggests.

The writer correctly identifies that Trump is a master of self-promotion and it is true that he has managed to keep this whole house of cards flowing and a whole lot of people believing he is a business mastermind. Awful piece of trash that he is, you have to give him that.

I remember in business law being taught about check kiting (which I used with varying degrees of success when I was a poor student and needed just a few more says until payday) and how it was a great way to not actually pay anything, so long as you could keep all the balls in the air, but at some point you simply can't (see Enron, every other pyramid scheme).

So, yeah. tRump's a genius just like Bernie Madoff...


The balls are gonna come crashing down over the next 2 years.

He doesn't have $400 million in ready cash, and he's not likely to get any financial institutions to loan him any.

The stupid motherfarker should have torpedoed his own 2016 run to appear solvent, but now he owes too many people who will kill him without a second thought.
 
2020-09-29 1:43:10 PM  

DrD'isInfotainment: [i.imgflip.com image 750x500]



Bonus points for the Russian flag pin
 
2020-09-29 1:43:24 PM  

SpectroBoy: Accountant:  We could do X, Y, and X and reduce taxes but they are illegal.
Trump: Hurrrrrr me like money derrrrr do all of them


Yeah. that's some Lex Luther level evil genius right there.


Nobody Knew tax law could be so complicated, but I know more about tax law than The CPAs and Lawyers who work for me.  They come up to me with tears in their eyes, and these are tough SOBS who've never cried before, they come up to me and say "sir" they say "Sir  you can't do that!" "Sir for the love of god and everything holy DON'T do that...you could go to jail, we could lose our licenses, please sir, we're begging you."  But I did it anyway, and guess what? I got a big, fat, beautiful $72 MILLION check from the IRS.  So who's the smart one NOW? Not those eggheads I can tell you that/
 
2020-09-29 1:43:31 PM  

Krieghund: I read the whole article as dripping with sarcasm.


THIS.

What the hell, Fark? Way too many of the comments in this thread have to have been from people who did not RTFA. (Jumping Jesus on a pogo stick, does "RTFA" even have relevance anymore?!) The headline is misleading.

The writer is not wrong, and there IS more than a little cynicism in the piece. There is a certain unique skill that Trump brings to the table. It is an odious and ultimately destructive skill -- the ability to turn appearances into cash flow, for decades longer than anyone should have a right to -- but it IS a skill. If he wasn't so good at it, he would not have lasted this long.

Let's not miss the opportunity to Godwin things: Hitler was, by most objective measures, ALSO a genius. So the fact that the word is applied to Trump is not necessarily a compliment -- and the writer does not intend it to be.
 
2020-09-29 1:43:56 PM  
FTA:
"Much of the commentary on the complexities of Trump's finances in coming days will be flowing from political and media types who can be stumped by filling out their expense accounts."

The author seems to believe that Trump himself filled out and filed these tax returns himself. If there are lawyers like Michael Cohen and doctors like Dr. Borstein, then there are certainly accountants who will do whatever Trump asks of them.
"Write off my hair styling on my taxes."
"That's not strictly allowed"
"Do it anyway"
"Ok"

Trump didn't weave this web himself. He sent his unscrupulous minions to do it. He facilitated it, but we've been exposed to the man for the past 4 years and there is no way he is smart enough to do this by himself.
 
2020-09-29 1:44:28 PM  

special20: HighOnCraic: The New York Times Confirms Trump Is a Genius

BS.  A genius wouldn't have gotten caught.
Hell, a genius wouldn't have put himself under the spotlight, which basically guaranteed that he would be caught eventually, or if nothing else, guaranteed that he would face more public scrutiny.

In reality, a true genius would use some feckless boob like Trump to do his bidding... you know, "a useful idiot" scenario.


You're suggesting that some actual genius came up with the plan to have Trump a naïve lad, a mere pawn, put in office?
 
2020-09-29 1:49:43 PM  
I believe subby has misunderstood the tone.
 
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