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You say fail, but that's because you're looking at it from a "running a business" viewpoint. Instead, you have to look at "enrich personal wealth" viewpoint. It
by dylan604 8mo ago
You say fail, but that's because you're looking at it from a "running a business" viewpoint. Instead, you have to look at "enrich personal wealth" viewpoint. It's possible to run a business into the ground while personally gaining financially. A failing business has some beneficial tax purposes. So people that think these failed businesses are a negative just need to look at them differently. They succeeded in their true purpose. The "running a business" was just the facade.
- dfxm12 8mo agoI guess he did campaign on running the country like one of his businesses. A rare promise kept from a politician. :)
- owyn 8mo agoYeah, the scam is to inflate the value of your properties, then claim a write-off when it fails. For "some reason" you can even use other people's money for the investments and claim the losses for yourself. Then you can use that as a deduction when you actually make money again. One scammer in particular pulled this trick for 10 years, rolling it forward and filing a $916 million loss with the IRS in 1995. https://www.nytimes.com/interactive/2019/05/07/us/politics/donald-trump-taxes.html https://www.nytimes.com/interactive/2019/05/07/us/politics/d...