Tuesday, March 08, 2016

So HOW much is Donald Trump worth again?

Here is more courtesy of Crain's:  

One of the enduring mysteries of Donald Trump is just how much wealth he has. Forbes pegs his net worth at $4.5 billion, while Bloomberg News puts it at $2.9 billion. The GOP front-runner himself has said he's "really rich." 

Maybe, but Trump's income is low enough to qualify for a New York state property-tax break that most high-rollers don't get. 

It's called the STAR program, which stands for the New York State School Tax Relief Program and has been around since 1997. It offers an approximately $300 annual benefit for those who qualify. Hundreds of thousands of New York homeowners get it. 

Here's where it gets interesting for Trump: To be eligible for STAR, a married couple must have annual income of $500,000 or less. One wouldn't think a guy as rich as Trump claims to be would qualify, but records filed with the city's Department of Finance show he received a $302 STAR benefit on his latest property-tax bill for his Trump Tower penthouse on Fifth Avenue. 

That means whatever his annual income is, it's less than $500,000. (The state defines income for STAR purposes as federal adjusted gross income minus the taxable amount of total distributions from annuities or individual retirement accounts.) And Trump would have to have declared his New York apartment as his primary residence and sent the state a copy of his federal income-tax return in order to qualify for the $302 tax break. 

"It's strange that a billionaire would apply for a $302 tax benefit and, moreover, that he would take it," said Martha Stark, a property-tax expert and former New York City finance commissioner who is now a lecturer at Baruch College. A Trump spokeswoman had no immediate comment. By the way, the city finance department checks with New York state tax authorities every year to make sure applicants for the STAR benefit have income under $500,000.

Well now, isn't THAT interesting?

I think most of us realize that Donald Trump is going to be crushed under his mountains of bullshit at some point, but what I can't decide is if it is better that it happens now during the primaries so that Hillary can run against Ted "The Lizard King" Cruz, or in the general so that both he and the entire Republican party can be humiliated on a national level.

Yep, that's conundrum alright. 

53 comments:

  1. Anonymous2:16 PM

    Kid channels Donald Trump to bullshit way through test question

    http://mashable.com/2016/03/08/this-is-why-i-teach-imgur/#BCjURJy11sqs

    ReplyDelete
  2. Anonymous2:16 PM

    He's just trying to prove that he's "just like his supporters", poor enough to get some sweet government money!

    Also too, what the hell, $500 grand is the income cap to get a $300 tax benefit?

    I guess by New York standards, especially for those living in Manhattan, that is a "moderate income" but for a lot of people in the lower 48, that is equal to a family income for at least 5 years or so.

    He truly does live in a bubble.

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  3. Anonymous2:24 PM

    You can be certain that every multi-billionaire in New York City has a very low taxable income. That's what expensive accountants and bankers are for.

    ReplyDelete
    Replies
    1. Anonymous3:40 PM

      You can say that again!!!

      Delete
  4. Balzafiar2:32 PM

    I want him to be the nominee so Hillary can stomp his flabby ass into the mud.

    ReplyDelete
    Replies
    1. Anonymous3:02 PM

      Me too. Can't wait for him to be a huuuuge loser!

      Delete
    2. Anonymous3:40 PM

      Careful what you wish for.

      Delete
    3. Anonymous4:00 PM

      The only reason I see for wanting Trump to be the nominee is so we can say The Donald got schlonged by a woman, by Hillary Rodham Clinton in November!! Yea, baby!!
      I do have to be very careful with my dreams, however. I don't trust the voting machines in all those Republican, ruby red states with evil cheating Secretaries of State like Kris Kobach. That dude is a son of a bitch and there are about 35 more like him throughout the USA. And then there are the Kochs, the Sheldon Adelsons, the Robert Mercers who are spending the big bucks buying the government that benefits only the very, very wealthy.

      Delete
  5. Anonymous2:39 PM

    Yahoo:
    Trump outsourcing includes home goods, daughter’s clothing line
    It isn’t just the ties.

    Donald Trump has taken some grief for the fact that his signature neckties are made in China. But the scope of Trump-branded products made outside America is larger than has previously been reported — especially when that includes the clothing line named after Trump’s daughter, Ivanka, which is listed on the Trump Organization website as part of the Trump empire.

    Thousands of items with the Trump name on them — furniture, shirts, shoes, salad bowls, even “Trump body soap,” and much of Ivanka’s growing jewelry and clothing line — have been made by companies, often paying Trump simply for the use of his name on their goods, that employ foreign workers.

    Clothing and home goods are a small part of Trump’s fortune. His total income from licensed home goods was between $2.5 million and $13.1 million, according to his personal financial disclosure.

    These Trump company business decisions are directly at odds with the central message of his presidential campaign: a promise to bring back jobs that have been sent abroad.

    “I am going to bring jobs back to the United States like nobody else can,” Trump said in his closing statement at last week’s debate in Detroit, ahead of the Republican primary in Michigan on Tuesday.

    “I’m going to bring jobs back from China. I’m going to bring jobs back from Mexico and from Japan,” Trump said during the Feb. 13 GOP debate in South Carolina.

    In Detroit, Trump admitted he had his clothing line manufactured in China and Mexico. But he claimed that it is “impossible for clothing makers in this country to do clothing in this country.” Trump blamed the Chinese government’s devaluation of the yuan, which helps to make Chinese-made goods cheaper for American consumers than those made in the U.S.

    It turns out that a huge array of Trump brand products are made in Asia or South America, countries where — as he told CNNthis past summer — “the laborers are paid a lot less, and the standards are worse when it comes to the environment and health care and worker safety.”

    .... There are 17 properties in Manhattan with the Trump name on them, but Trump owns only five of the buildings.....

    Lots more at
    https://www.yahoo.com/politics/trump-outsourcing-includes-home-goods-daughters-190543492.html

    ReplyDelete
    Replies
    1. It's impossible for his clothing to be made so cheaply. Us workers have to have pesky unions and food.

      Delete
    2. Anonymous3:01 PM

      Oh, stop with the unions. To be competitive with China, we' have to be willing to work for $1_3 per hour. But remembe4, much of China is socialist, so that would also mean universal no out of.pocket health care, subsidized housing.free all public Ed, etc.

      Delete
    3. Anonymous3:46 PM

      Unions punions. What about child labor laws. We really screwed ourselves. Trump probably feels horrible. Boy those white supremcists love all that oath taking.

      Delete
    4. Not subsidized, just shitty. Shitty housing, shitty healthcare and real shitty working conditions. Min wage in some provinces are around $160/USD/Month.

      Besides, the original "union" comment was snark.

      Delete
  6. Anonymous2:49 PM

    What kind of income ?

    Also, I do like his tax plan better than Bernies. That's it. Still for Bernie though.

    ReplyDelete
    Replies
    1. Anonymous3:14 PM

      What do you like about it? It's just more tricke down bullshit.

      Delete
  7. Anonymous2:58 PM

    Enterprising of the journalist to check Trump's real estate tax account. The STAR RE tax break underscores the likelihood that Trump won't release his federal income tax returns because they show his earnings are much lower than he claims.

    ReplyDelete
  8. Anonymous3:03 PM

    Donald Trump, that con artist is complaining about American companies outsourcing our jobs?

    WHAT ABOUT YOU BITCH?

    ReplyDelete
    Replies
    1. Anonymous5:17 PM

      Too bad he got caught that his ties were made in China and Nacy's suspended his clothing line. Boo HOO.

      Delete
  9. Caroll Thompson3:12 PM

    Finally Trump is being exposed for the phony and fraud that he is. Just like his buddy Sarah.

    However, talking about his private parts on national TV really took the Presidential campaign to a lower level than I have ever seen it. All the dead Presidents and those who ran and lost for President are rolling in their graves.

    I am hoping (but not expecting) that the voters in Michigan, Idaho, Mississippi and Hawaii come to their senses and say no to the PT Barnum of our time.

    ReplyDelete
  10. Yvonne3:20 PM

    It doesn't matter what is in his bank account. He assured everyone at the last debate that his ummm, salchicha is YUUGGGE!

    ReplyDelete
  11. Anonymous3:29 PM

    Bruce "Caitlyn" Jenner has chimed in and said that Hillary is no friend of women...as if HE has any room, having only been pretending to be a woman for less than a year to chime in on women's issues.

    I'll take my advice on women's issues from a woman who doesn't have a penis, thank you very much!

    He's a cross dresser pretending that he is a woman and understands women and quite frankly HE makes me sick. Bruce Jenner, you are no woman.

    http://www.huffingtonpost.com/entry/caitlyn-jenner-hillary-clinton_us_56deeeb3e4b0ffe6f8ea9bf6

    ReplyDelete
    Replies
    1. Anonymous3:53 PM

      And he exploits real trans for $. I was so sad that he exploited the children's trans camp. He is no trans because only now he is becoming familiar women's shoes. He is just a creep.

      Delete
    2. I'll call Bruce a woman if I have to but there isn't a lady in that family.

      Delete
    3. Anonymous4:18 PM

      Just a cross dresser and frankly not a good one. Man hands.

      Delete
    4. Anonymous4:18 PM

      Bruce is a fake KKKardashian freak.

      Delete
    5. Anonymous4:36 PM

      No, she's not a cross-dresser, she's trans.

      She's also an asshole. The two aren't mutually exclusive. She's also really, really dumb as shown when she tries to justify why she supports Ted Cruz.

      Delete
    6. Anonymous5:36 PM

      That creepy frown 'she' wears is sickening. And when 'she' talks, it's Bruce Jenner.

      Delete
    7. Anonymous3:16 AM

      Caitlyn/Bruce Jenner is not very intelligent. Never has been and never will be.
      Beaglemom

      Delete
  12. Anonymous3:33 PM

    You can be sure that many of his expenses are hidden in his travel via his own companies,that is reimbursed by his campaign right now,but is most likely charged off to businesses normally,along with lunches,dinners,hotels,cleaning services,etc.

    ReplyDelete
  13. Anonymous3:44 PM

    I vote general. There's no way in hell he will survive the general, against either Hillary or Bernie. Another fun scenario would be he gets the delegates, but the GOP refuses him the nomination. Trump runs as an independent, splits the votes, and the Dems win again! It's gonna be a wild ride.

    ReplyDelete
    Replies
    1. Even if he gets the nomination, so many Republicans will refuse to vote for him and won't be able to bring themselves to vote for Hillary that they'll simply stay home. That's the same as splitting the vote.

      He'll never win.

      Delete
    2. Anonymous3:15 AM

      If Trump wins the delegates, the GOP will fall in line and support him in the general election as if none of this rancor ever happened. The GOP always supports its candidate totally.
      Beaglemom

      Delete
  14. Lawrence O'Donnell was the first person I heard called bullshit on trump being a Billionaire a couple of years ago.

    ReplyDelete
  15. TwoBlueJays3:50 PM

    It would take a team of forensic accountants with unlimited access to determine his actual income and net worth. When you're that wealthy, it's almost impossible to track down all the money. He's had decades to hide it and the best tax advice, which means we will never see an actual tax return. American voters will never see any candidate's actual tax return unless the person is of average income. People above a specific bracket just don't file like the little people do. Too much at stake and endless ways to stash the money.

    ReplyDelete
    Replies
    1. We'll see tax returns. We just won't see HONEST tax returns.

      Delete
  16. This comment has been removed by the author.

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  17. And to think, I didn't qualify for Massachusetts' Senior Circuit Breaker's reduced property tax benefit because between my Social Security and IRA fund I earned too much--under 35k.

    Oh well. There was a time I benefited from the fact Massachusetts didn't tax tampons but New York State does.

    ReplyDelete
    Replies
    1. Anonymous7:30 PM

      Same here in Illinois- making just under 27k plus being the sole support for my brother. And....I had to pay $800 in fed income tax.

      Delete
  18. Anonymous4:04 PM

    So what?! I know of a YUUUGE HOTEL/casino that makes MILLIONS each month - and they pay a grand total of $800/YEAR in taxes.
    They simply have great accountants/tax advisors. (And I wish I could have one of those...)

    ReplyDelete
    Replies
    1. Now that Burger King is Canadian, they won't pay anything.

      We can thank the Republicans in Congress for allow the wealthy in this country to shirk their patriotic duty and avoid paying their fair share.

      Delete
  19. Anonymous4:36 PM

    Not even two pigs in a poke to me... Whatever the hell that means! Money can't buy class - look no further than the Kardashian/Jenners. Or the Heath/Palins!

    ReplyDelete
  20. What's a conundrum is why banks don't pull his lines of credit. Unless...the outcome of that requires surgical repair.

    ReplyDelete
  21. Anonymous4:47 PM

    Kind of like his "charity" collecting 6 million for vets, but only paying out 3 million to veteran's organizations. It's called Repuglican math, or in old terms the trickle down economy ( or better known as piss on the middle class and poor economy)

    ReplyDelete
  22. Anonymous5:15 PM

    I keep wondering WHY Trump decided to run, decided to keep running, why he would want the job. Apart from just ego and playing around with it and becoming more famous. Just for kicks.

    My initial answer was his money situation is spiraling downward and he needs that big dose of fame to build up his brand again. All those properties and businesses could collapse, just like Madoff's pyramid scheme did.
    Perhaps they are already in the process of collapsing.

    My guess re the $500k/yr income is that almost everything a normal person would pay for is a business expense for him, or at least it is paid for that way: residence(s), travel, food, staff, clothes, healthcare, other insurance, charity. The $500k is just his walkin' around money.

    So it could be he is in financial trouble -- the reason he is running.

    The next reason I pondered was maybe he is really smart and altruistic and is doing this to ensure that a Democrat wins the presidency and that the GOP is destroyed. Oh, I wish this were true but I fear it is not.

    Another possibility: he is working for the good of the Repubs and at a late stage he will aim to turn all his voters and support over to Bloomberg, the only Repub candidate who seems reasonable.

    The most likely possibility is alas looking like he was overtaken by his own nuttyness and is on an ego- and Hitler-roll -- and his disaffected, angry followers are so much like the sad Germans who elected Hitler.

    ReplyDelete
    Replies
    1. Anonymous5:41 PM

      I think at this point it's all ego.

      Delete
    2. Anonymous6:06 PM

      I think he is running for his ego and his brands. Just think as president he can push all his brands-water, steaks everything in deals, state visits, etc.

      Donald Trump Holds Deranged Press Conference To Show America Water and Raw Meat

      Donald Trump didn’t use his press conference to lay out his vision for America. Instead, a demented Trump trotted out Trump water, Trump steaks, and Trump magazine to show that Romney was wrong about his companies going out of business.

      Trump said “He talked about the water company. Well, we sell water. We have water, and it’s a very successful, you know, it’s a private little water company, and I supply the water for all my places, and it’s good. It’s very good. We have steaks. Where are the steaks? We have Trump steaks. He said the steak company and we have Trump steaks…We have Trump magazine. He said Trump magazine is out. I said it is. I thought I read one two days ago…and the airline by the way, I sold the airline.”.....

      http://www.politicususa.com/2016/03/08/donald-trump-holds-deranged-press-conference-show-america-water-raw-meat.html?utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+politicususa%2FfJAl+%28Politicus+USA+%29

      Delete
  23. Anita Winecooler5:22 PM

    He's got money offshore someplace, they're all the same. He's a con artist and a liar. This whackjob I used to live near called me to see if I wanted to go to a furniture auction from the Taj awhile back. She came home with a ton of crap, now I ask you, who buys used hotel mattresses??? Who buys lucite knock offs of chandeliers? She must have spent a couple grand worth of shit because it has his name, and probably DNA, all over it.

    ReplyDelete
  24. Anonymous6:13 PM

    The surprising part of this article is they are giving $300 back to people that make Half a Million a year !!!

    Like they need it, for what dinner out.

    What doesn't surprise me is that the Donald took the money.

    ReplyDelete
    Replies
    1. Rich people are the cheapest, stingiest scoflaws. Anything to avoid paying what they owe.

      Are your Burger King burgers any cheaper? No? Well, the company is now Canadian and they no longer pay U.S. taxes. But do they pass on any of the money they're saving to the customer? It's going into the pockets of the CEO and stockholders.

      Delete
  25. AKRNHSNC6:17 PM

    Trump is so cheap that he doesn't care and will lie about this anyway, claiming it was a mistake his accountants made or some other b.s. like that. Look at how cheap he has been when it came to his campaign, said he was going to spend up to $1B of his own money. LOL, he doesn't have it to spend.

    ReplyDelete
  26. Anonymous7:36 PM

    We're going to be the Republican Party Presidential Candidate

    Heil Trump

    ReplyDelete
  27. Anonymous8:05 PM

    Considering he supposedly made $375K per episode of The Apprentice, I would love to know what all the offsetting losses are.

    ReplyDelete
  28. Anonymous2:30 AM

    Common sense please:
    His "personal" income may be less, but the millionsor billions are in his llcs and corporations and such.
    Think Kanye West is in 56 million debt personally? No, it's his Corporations (in which he may have sunk some personal wealth).

    ReplyDelete

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