Trump's Financial Problems

[Jesus_Ateo]

Broke Donald Trump can’t even afford to get his plane fixed

Even while Donald Trump was in office, it was fairly clear that the money he was pilfering from taxpayers was merely being used to make interest payments on his debts, and that he had no actual cash on hand at any given time. Now that Trump is out of office, we’re seeing more reports that Trump’s struggling businesses are indeed all upside down. Now it turns out things are really bad for Trump.


You know his prized 757 jumbo jet with the “Trump” logo on the side that he loved to fly around in during the 2016 campaign? It’s now sitting in disrepair somewhere outside of New York City, according to CNN. How bad off is the plane? One of the engines is missing parts. In other words, Trump can’t even afford to pay to get it fixed.


This could help explain why Trump insisted on leaving Washington DC a few hours before the end of his presidential term. This allowed him to fly down to Mar-a-Lago on Air Force One. If Trump had waited until noon to leave DC that day, he’d no longer have been president, and he’d have needed to provide his own transportation to Florida. That would have been a problem, considering he’s so broke that his personal airplane is in pieces.

https://www.palmerreport.com/analys...ant-even-afford-to-get-his-plane-fixed/37580/

 

[Dribble]

Nothing new...he always was a scam artist. They feed on stupid people...and God knows...Republicans take that prize

 

[Articulate_and_Analytical]

Trump is facing brand new lawsuits that could bankrupt the family business -- here's why


"And this lawsuit, this same lawsuit is available to at least about 140 Capitol Police officers who were injured that day," O'Donnell noted. "They could file similar lawsuits, similar claims, some of them would be assigned different dollar values by juries if they get to juries. You could have a bankrupting amount of these kinds of lawsuits being filed by just Capitol Police officers alone."

"Right," Tribe replied. "Unless some of the Capitol Police officers happen to be citizens and residents of Florida, which I very much doubt. But all of the others could file suits just like this."

"And they all seek not only compensation, though they don't glamorize it, but compensation for the harm, plus punitive damages to punish the president for what he did," he continued. "And to deter future presidents. So these are very standard lawsuits and I can imagine that the emotional as well as legal appeal of these lawsuits to a garden variety jury will be very large. So when you combine the lawsuits that are also strong brought by members of Congress with these suits, it's hard to see how the president will not be held accountable."
https://www.rawstory.com/donald-trump-lawsuits/

 

[KeithD]

Clean the family out before sending them to prison. There needs to be a strong example of what not to do in the United States.

 

[CornusKousa]

Clean the family out before sending them to prison. There needs to be a strong example of what not to do in the United States.

I would agree with you, except you'd NEVER apply that to a Democrat.

No matter how fucked up they get, you're always there to lick their boots.

 

[phrodeau]

Trump is no longer one of the thousand richest billionaires. Forbes places him at 1,299th.

https://www.independent.co.uk/news/...rump-net-worth-billionaire-list-b1827448.html

https://www.forbes.com/profile/donald-trump/?list=billionaires&sh=7c2f21cb47bd

 

[LincolnDuncan]

I'm hoping to see Trump, Stone and Manifort on skid row fighting over a bottle of sneaky pete

 

[KeithD]

I'm hoping to see Trump, Stone and Manifort on skid row fighting over a bottle of sneaky pete

All three of them need to start being wary of Russians with umbrellas.

 

[renard_ruse]

More fake news.

While the man lost a significant amount of money trying to save America, he is in fine shape financially.

We supporters would gladly help him out though. He's in good shape.

 

[renard_ruse]

https://pagesix.com/2021/04/07/sylvester-stallone-joins-donald-trumps-mar-a-lago/

 

[OldJourno]

Trump is no longer one of the thousand richest billionaires. Forbes places him at 1,299th.

https://www.independent.co.uk/news/...rump-net-worth-billionaire-list-b1827448.html

https://www.forbes.com/profile/donald-trump/?list=billionaires&sh=7c2f21cb47bd

Once again CNN scores a bull's eye with its reporting, this time with the news that Trump is broke.
I should be so broke.

 

[phrodeau]

Once again CNN scores a bull's eye with its reporting, this time with the news that Trump is broke.
I should be so broke.

Do you mean this? https://www.cnn.com/2021/04/07/politics/donald-trump-forbes-billionaires/index.html

Maybe you need to actually read it.

 

[KeithD]

Once again CNN scores a bull's eye with its reporting, this time with the news that Trump is broke.
I should be so broke.

My goodness, aren't you the malignant little liar?

 

[jomar]

Trump is no longer one of the thousand richest billionaires. Forbes places him at 1,299th.

https://www.independent.co.uk/news/...rump-net-worth-billionaire-list-b1827448.html

https://www.forbes.com/profile/donald-trump/?list=billionaires&sh=7c2f21cb47bd

Probably never was as he cooks the books.

More fake news.

While the man lost a significant amount of money trying to swindle America, he is in fine shape financially.

We supporters would gladly help him out though. He's in good shape.

FYP, YW

 

[allison22]

Trump campaign sent to collections after unpaid security bills — and other cities could follow

When Trump held a rally that needed police to direct traffic, crews to do overtime to scan for weapons at the doors, patrol the venue site or even remove protesters, those were local officers who Trump's campaign should have paid for.


As of July 2020, Trump had over $2 million in unpaid security bills that stacked up from Pennsylvania to New Mexico.


It was reported by the Albuquerque Journal in October that their city sent Trump an invoice for $211,175.94 for barricades and overtime for officers to be on hand for the event. At last check, that hadn't been paid along with the several other cities.

Business Insider reported in July 2020 that the Pennsylvania rally with former running mate Mike Pence was another campaign event that incurred a bill for handling security for a political event. Over the nearly five years that Trump has been running a campaign, he hasn't paid the bills to the city.

Now, the city of Albuquerque is demanding their payment. Trump's rally was held nearby in Rio Rancho, where city officials covered the security costs as Trump stayed at a hotel nearby, The Albuquerque Journal reported. But that didn't account for the thousands in costs spent to deal with his rally.
https://www.rawstory.com/donald-trump-2652760599/

 

[Leather_Lesbian]

Trump condos scooped up at rock-bottom prices as people refuse to live in them

Former President Donald Trump's once-sprawling real estate business has taken a major hit ever since he got into politics, and the Associated Press has found that Trump-branded condos are now selling at steep discounts because so many people refuse to live in them.

Condos in Trump buildings are now the targets of "bargain hunters" across the United States, as the twice-impeached one-term former president's deep unpopularity in urban areas has made prospective buyers reluctant to live in them.

"Fifty percent of the people wouldn't want to live in a Trump building for any reason..."

A a broad analysis of 4,000 Trump properties and found that "prices for some condos and hotel rooms available for purchase have dropped by one-third or more," which it describes as a "plunge that outpaces drops in many similar buildings, leaving units for sale in Trump buildings to be had for hundreds of thousands to up to a million dollars less than they would have gone for years ago."

https://www.rawstory.com/trump-cond...l&utm_campaign=7257&recip_id=560588&list_id=1

 

[njlauren]

Claims of Trump's wealth has been overexaggerated . Why do you think Trump enterprises is not public? If they were public, they would have to file 10k statements and everything would be public. His idiot base believes the image he created on the apprentice, but it is basically a gigantic lie. Basically what Trump has been running his whole life is in effect a house of cards based on debt. Want one little fact? Trump inherited something like 800 million dollars (no, joe billy bob and betty sue, he didn't grow up poor or middle class and 'achieve', he had a fucking diamond coated platinum spoon in his mouth). The last of that is now gone (he got it in chunks, probably to avoid taxes no doubt).

His business empire is much like people who use credit cards to finance their lifestyle, they constantly take out more debt to pay off the old debt and so forth. Wanna know why he is the first president in the last I don't know how many decades who refuse to release his tax records? In large part, it would show his 'billion dollar worth' is an illusion. People look at all his properties and his merchandising arms and say "wow, this is worth a lot".

Key Secret? It is all leveraged up to the wazoo. It is like someone who lives in a 800k house but because of a mortgage and lines of credit they have like 795k in loans against it, yet they claim the house is wealth.

At this point no one wants to lend him money, the big financial firms have backed and Trump is a couple of years away from really being in trouble, financial firms like Deutsche Bank have told them they are going to expect full payment of the loans when they are due (some of them come due next year). In the past, when loans came due, Trump would refinance the loans, the way that the federal reserve does with treasury notes that have reached their expiry date. He got away with this because the banks, knowing Trump's propensity for filing for bankruptcy, just kept extending them.

It is why he is desperately crying about election fraud, he is counting on the boobs to keep sending him money to he can pay his loans. Worse for him, he faces major legal costs and from what I have been reading law firms won't touch him because they know he won't pay them. Rudy Giuliani is owed a ton of money by Trump who basically told him FU, and he is hawking My Pillow on ads to try and make some money.

-NY State and NY city are empanelling grand juries and most legal experts think to do that, given Trump's notoriety, they have smoking guns (indictments themselves don't mean shit, a DA can indict a ham sandwich). They have his chief accountant and his kids getting illegal compensation from Trump, plus if as expected Trump committed financial and tax fraud with his properties, his CFO is going to be indicted as well, and they also likely have his kids with fraud tied to Trump. The guy is 78 and he won't want to spent time in Jail, and more importantly he isn't going to want to see his kids go to jail for tax fraud (they were given expensive apartments to live in by the Trump organization, which is considered taxable income, among other perks that were not reported). This is going to be major $$$$$ in legal fees and you don't go to trial with that with Sydney Powell or Giuliani (and Giuliani is likely to be indicted so won't be available).

-There is also talk that NYC and NY State will work with the federal prosecutor, who have been investigating Trump, with a possible RICO suit against the Trump organization.

-a number of localities are going after Trump for misrepresenting the value of properties in terms of tax assessments and in terms of getting loans. A mansion he bought in Westchester county went for 8 million dollars, for tax purposes it was apparently stated at 6 million and he got a loan on it, get this, claiming it was worth 300 million.

And of course, if they indict him for election interference (like his not so subtle calls to the secretary state of Georgia telling him to 'find 10,000 votes' and potentially incitement to insurrection, he is going to be facing legal action a lot of places. And oh, yeah, he also may likely lose his properties in Scotland and elsewhere in Europe, apparently they are losing money and are up to their eyeballs in debt.


Not to mention if Trump is indicted and goes to trial, the financial information on him becomes public record, a judge cannot order them to be kept confidential. It means tax records and the financial information of the Trump organization becomes public record and that is going to be the biggest blow, it is going to show that the Trump mystigue was to quote Damon Runyon, 'the old acker-merackus"

 

[pecksniff]

While the man lost a significant amount of money trying to save America . . .

Actually, I don't think his presidency was unprofitable for him.

 

[YDB95]

More fake news.

While the man lost a significant amount of money trying to save America, he is in fine shape financially.

We supporters would gladly help him out though. He's in good shape.

I can't decide which of those sentences is the most pathetic.

 

[KeithD]

Trump owes more than he has, and if he didn't stiff his bills and scam his suckers, he'd be a pauper.

 

[Jesus_Ateo]

The Trump name, once slapped on everything from steaks to casinos and skyscrapers, is now too toxic for a Bronx golf course. City lawyers argued in a court filing that Mayor Bill de Blasio’s decision to cancel its deal for the ex-president to operate the Trump Golf Links at Ferry Point was a legitimate response after the Jan. 6 Capitol insurrection crippled Trump’s ability to draw major tournaments to the Bronx and trashed his reputation. “The Trump name — once a key selling point for his businesses, including TFP and other of Trump’s golf course entities — was irretrievably tarnished.

https://www.rawstory.com/irretrieva...ourse-contract/?utm_source=push_notifications

 

[allison22]

Nothing new...he always was a scam artist. They feed on stupid people...and God knows...Republicans take that prize

Trump's fundraising for a 2024 presidential run is all a scam. Trump has no intention of running for political office again. He just wants his supporters to send him money.

According to Trump's long time personal attorney, "he's making more money doing that than anything he has ever done before."

Trump has raised over $100 Million dollars by hinting that the 2020 election was rigged and promising to help more Republicans get elected. However, Trump hasn't spent any of the money on audits or GOP-led campaigns. Instead, he's largely spent the money to promote his own interests, cover event and travel expenses, and pay the salaries of his aides and advisors, the report said. He's also used some of the funds to cover legal expenses in his baseless effort to overturn the 2020 election results.

Trump's former lawyer described Trump as "the greatest grifter in the history of American politics," adding that he'll ultimately come up with a "handful of reasons why he won't run again and blame others for his decision."

 

[pecksniff]

Trump's fundraising for a 2024 presidential run is all a scam. Trump has no intention of running for political office again. He just wants his supporters to send him money.

According to Trump's long time personal attorney, "he's making more money doing that than anything he has ever done before."

Trump has raised over $100 Million dollars by hinting that the 2020 election was rigged and promising to help more Republicans get elected. However, Trump hasn't spent any of the money on audits or GOP-led campaigns. Instead, he's largely spent the money to promote his own interests, cover event and travel expenses, and pay the salaries of his aides and advisors, the report said. He's also used some of the funds to cover legal expenses in his baseless effort to overturn the 2020 election results.

Trump's former lawyer described Trump as "the greatest grifter in the history of American politics," adding that he'll ultimately come up with a "handful of reasons why he won't run again and blame others for his decision."

I presume none of this is actually illegal?

 

[BoyNextDoor]

Trump's fundraising for a 2024 presidential run is all a scam. Trump has no intention of running for political office again. He just wants his supporters to send him money.

According to Trump's long time personal attorney, "he's making more money doing that than anything he has ever done before."

Trump has raised over $100 Million dollars by hinting that the 2020 election was rigged and promising to help more Republicans get elected. However, Trump hasn't spent any of the money on audits or GOP-led campaigns. Instead, he's largely spent the money to promote his own interests, cover event and travel expenses, and pay the salaries of his aides and advisors, the report said. He's also used some of the funds to cover legal expenses in his baseless effort to overturn the 2020 election results.

Trump's former lawyer described Trump as "the greatest grifter in the history of American politics," adding that he'll ultimately come up with a "handful of reasons why he won't run again and blame others for his decision."

But he can't use the money raised for personal use

 

[KeithD]

But he can't use the money raised for personal use

He has before. There's no reason to think he won't continue to do so. So far, Trump has, in fact, remained above the law.