Wednesday, October 12, 2016

Rudy Giuliani: Trump Taxes Show He's a Turnaround Artist and a Genius

Image: Rudy Giuliani: Trump Taxes Show He's a Turnaround Artist and a Genius

I am glad someone else is saying it though it is mostly in real estate development that this is largely possible.  Way more important he has had the top legal and accounting advice as well.

However children i do want everyone to understand something here.  In order to generate a billion dollar loss to carry forward, it is actually necessary to actually spend a billion dollars first or more likely two billion dollars.  The tax department takes a rather dim view of phony invoices stacked on phony invoices when they come along to audit you.

Trump's real genius is that he has got the banks to go along with him all the way.  He is always spending their money and then paying it back over decades.  This creates a huge pool of losses to consume as the actual profits roll in and the banks get paid off.  After thirty years he now owns outright some pretty nifty properties. He is actually the perfect bank customer..

Rudy Giuliani: Trump Taxes Show He's a Turnaround Artist and a Genius 

By Cathy Burke | Sunday, 02 Oct 2016 10:47 AM 

Donald Trump adviser Rudy Giuliani said Sunday the GOP nominee's nearly billlon-dollar tax writeoff for 1995 business losses shows "he is a genius" – and that it was an obligation for a businessman.

In an interview on ABC News' "This Week," the former New York City mayor said the tactic – revealed Sunday in a New York Times report – said "American needs a turnaround artist."

"If you give me your money and I start a business and there are five deductions available to me and I say I'm not going to take advantage of two of them because it may make me look bad when I'm running for president or something else, then you're going to sue me for not taking advantage of that deduction," Giuliani said.

"And that is what happened here. And it shows what a genius he is, how smart he is, how intelligent he is, how strategic he is. I want that working for me."

He added: "This man is audited every year. Never once has had a criminal charge brought against him. He operates — he understands the law. He operates within it and he understands on the other side how he can get sued."

"I would rather have a person who understands the economy and is a turn around artist than a person who is a failure basically as secretary of state," he said, referring to Democratic nominee Hillary Clinton. 

Giuliani also cited Trump's 1987 bestselling book "The Art of The Deal," that "every great man has had failures," and that the nation needs a "a man who knows how to fail and then come back."

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