So like if a regular person gets a car loan or a mortgage they have to make monthly payments because lol at trusting someone to pay it all back in full at the end of its term. For these loans maturing in full in a couple years for 100s of millions, does he not have to make any monthly/quarterly/yearly payments on them? I’m just trying to understand the incentive for the bank to hope it gets paid back in full plus profit at the end. I’m sure it was determined by some actuarial person but still the risk of anyone, even not Trump, paying all that at once seems extraordinary. Or is this standard banking?
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The bank has a mortgage. But thanks to Trump being awful at managing everything the property is now worth half or less than he paid, so the collateral isn’t worth the loan balance. Banks, knowing Trump is an awful operator, demand a personal guarantee, so he has to come out of pocket to pay off the loan.
The banks that had him in this spot in the 90s decided they would rather loan him more money and put him on a personal allowance than bankrupt him. That’s not going to happen again.
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Watered-down martini.
Donnie can probably file a bankruptcy case and shed most or all of his debt. AM radio will spin it as Dirty Commie Dems run poor Trump into the poor house. That or he gave up EVERYTHING to serve this nation.
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wait till you find out in a few months it’s more than that
The journalist who reported the Qatar story (I heard it on NPR) last week estimated Trump’s net worth at 2.5 billion. How would he estimate that?
Why wouldn’t he just sell buildings/properties to get out of debt?
you’re right, sorry i wasn’t being accurate here are the exact quotes
“Over 62,984,828 people are going to vote to re-elect Donald J. Trump on November 3rd”
“Your reminder that at least 62,984,828 people will vote for a psychopath on November 3rd”
Who knows if that is accurate, but one explanation is that he doesn’t control the assets he has that are actually valuable. If he owns 20% of some office buildings with a collective value of $3 billion, net of debt, hes “worth” $600 million but has no way to access it because he can’t lever up the buildings or force sales. Similarly, to the extent his name/brand/licensing business has value, there is no way to get liquidity out of it.
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He doesn’t hardly own any?
can’t believe I got this from mike huckabee of all people but the argument to abolish the IRS for sales taxes is making some bit of sense right now.
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He doesn’t actually own the vast majority of “trump” properties. It is just his name licensed. .
Edit. Jesus a guys pony has to be fast tonight!
It’ll be this.
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Until he commits seppuku in the Oval Office, he hasn’t given up everything.
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Thats not what I heard on The Mark Levin Show!
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Riverman is talking about selling the right to use the Trump to someone who subleases it.
It’s the pony national championship, with the worlds on election night.
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and steak and vodka and gambooling lolol
Producer/Manufacturer
sells to:
Wholesaler (pays sales tax)
sells to:
regional distributors (pays sales tax)
sells to:
retailer (pays sales tax)
sells to:
consumer (pays sales tax)
You need to refund the sales tax to all the resellers for which you need an IRS like entity. So apart from being a terrible idea abolishing the IRS is also unworkable.
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- The buildings and properties are actual assets with real rates of return and appreciation upside, and 2. because the US tax code is designed to allow the wealthy to use things like property depreciation to shield themselves from tax liabilities.
If he sells the properties and pays off of the debt, he no longer has the benefits of 1 & 2 while deriving no personal benefit; all he’s done is give liquidity to who ever was holding his debts.
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Imagine how profitable a Trump branded hotel in places like Des Moines, Colombus, Colorado Springs, etc. could be. You could have the shitty $50 martini experience much closer to home!
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They couldn’t even pull this off.
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