Trump Taxes
Forbes magazine says Trump actually owes a billion bucks.
drummerboy said:
Forbes magazine says Trump actually owes a billion bucks.
Same article also says his net worth is something around 2 billion, even taking into account the billion in debt. Maybe Congress should pass a law that a President can't have more than 10 million (random number) in outstanding debt, and that can only be go domestic lenders. If he was forced to settle all his debts it would take away the concern about owing money to unknown parties.
From what I know of his finances, he'd probably have to sell a bunch of properties to raise the capital. I doubt he has the cash to cover that tab.
It will never happen under this administration because they'd never get a veto-proof majority to vote for it. But it might actually be a worthwhile law in the future. The Forbes article breaks down his biggest loans and who holds them, and a few are listed as unclear. Not a good look for the President and I think objectively concerning to anyone. It would be like finding out that the Mayor of Maplewood owed a million bucks to ... someone.
mrincredible said:
Same article also says his net worth is something around 2 billion, even taking into account the billion in debt. Maybe Congress should pass a law that a President can't have more than 10 million (random number) in outstanding debt, and that can only be go domestic lenders. If he was forced to settle all his debts it would take away the concern about owing money to unknown parties.
From what I know of his finances, he'd probably have to sell a bunch of properties to raise the capital. I doubt he has the cash to cover that tab.
It will never happen under this administration because they'd never get a veto-proof majority to vote for it. But it might actually be a worthwhile law in the future. The Forbes article breaks down his biggest loans and who holds them, and a few are listed as unclear. Not a good look for the President and I think objectively concerning to anyone. It would be like finding out that the Mayor of Maplewood owed a million bucks to ... someone.
It would be unconstitutional.
The Constitution establishes the requirements to serve as POTUS. Congress may not, through legislation, alter, amend, or expand on those requirements. Same reason that term limits for Congress may only be imposed by Constitutional amendment and not by legislation.
ETA: The limitation on the amount of debt and to whom such debt is owed.
Steve said:
The Constitution establishes the requirements to serve as POTUS. Congress may not, through legislation, alter, amend, or expand on those requirements. Same reason that term limits for Congress may only be imposed by Constitutional amendment and not by legislation.
yes.
And in normal times, the remedy for the litany of serious conflicts of interest that Trump has would be impeachment and removal from office. but we don't live in normal times, and Trump can do anything he damn well pleases.
ml1 said:
yes.
And in normal times, the remedy for the litany of serious conflicts of interest that Trump has would be impeachment and removal from office. but we don't live in normal times, and Trump can do anything he damn well pleases.
Sadly, this seems to be true. The entirety of the GOP in Congress that has permitted this should be charged with treason.
Steve said:
The Constitution establishes the requirements to serve as POTUS. Congress may not, through legislation, alter, amend, or expand on those requirements. Same reason that term limits for Congress may only be imposed by Constitutional amendment and not by legislation.
ETA: The limitation on the amount of debt and to whom such debt is owed.
Fair enough. Constitutional amendment it is!
I guess the ultimate bulwark against a President who's indebted to mysterious lenders is an informed electorate who wouldn't vote someone like that into office.
(There is your setup line. Let's see who does best with it.)
mrincredible said:
Steve said:
The Constitution establishes the requirements to serve as POTUS. Congress may not, through legislation, alter, amend, or expand on those requirements. Same reason that term limits for Congress may only be imposed by Constitutional amendment and not by legislation.
ETA: The limitation on the amount of debt and to whom such debt is owed.
Fair enough. Constitutional amendment it is!
I guess the ultimate bulwark against a President who's indebted to mysterious lenders is an informed electorate who wouldn't vote someone like that into office.
(There is your setup line. Let's see who does best with it.)
but voting someone like that into office totally owned the libs! bigly!
ml1 said:
but voting someone like that into office totally owned the libs! bigly!
Ooo, not a bad offering from ml1. Anyone think they can do better?
mrincredible said:
Fair enough. Constitutional amendment it is!
I guess the ultimate bulwark against a President who's indebted to mysterious lenders is an informed electorate who wouldn't vote someone like that into office.
(There is your setup line. Let's see who does best with it.)
Where does one go to find "an informed electorate"?
STANV said:
mrincredible said:
Fair enough. Constitutional amendment it is!
I guess the ultimate bulwark against a President who's indebted to mysterious lenders is an informed electorate who wouldn't vote someone like that into office.
(There is your setup line. Let's see who does best with it.)
Where does one go to find "an informed electorate"?
Same place economists go to find can openers and physicists go to find spherical cows.
mrincredible said:
Steve said:
The Constitution establishes the requirements to serve as POTUS. Congress may not, through legislation, alter, amend, or expand on those requirements. Same reason that term limits for Congress may only be imposed by Constitutional amendment and not by legislation.
ETA: The limitation on the amount of debt and to whom such debt is owed.
Fair enough. Constitutional amendment it is!
I guess the ultimate bulwark against a President who's indebted to mysterious lenders is an informed electorate who wouldn't vote someone like that into office.
(There is your setup line. Let's see who does best with it.)
An informed electorate is one that knows that supreme executive power derives from a mandate from the masses.
What's fairer?
1. A farcical aquatic ceremony
2. The Electoral College
STANV said:
mrincredible said:
Fair enough. Constitutional amendment it is!
I guess the ultimate bulwark against a President who's indebted to mysterious lenders is an informed electorate who wouldn't vote someone like that into office.
(There is your setup line. Let's see who does best with it.)
Where does one go to find "an informed electorate"?
First step is to go to Newark Liberty Airport and get on an international flight
Basil, apparently we’ll take you in once you’ve gone through full 2 weeks quarantine in NZ 
Good news/Less-good news.
Good news - Trump DOES pay his taxes.
Less-good news - Trump pays his taxes to China, not the U.S.
so, perhaps he's mad at China because he can't game their system and only pay $750?
PVW said:
Same place economists go to find can openers and physicists go to find spherical cows.
I clicked the links. Thanks for the education.
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