Trump claims that his $421 million debt is ‘tiny’, but he owes more than double that

gfm7175 said:
True.


While true, that doesn't mean that personal guarantees don't occur anyway. There are reasons for why a well established business may instead opt for the personal guarantee route.


Not necessarily. He might just feel absolutely confident about his ability to repay the loans, and his personal guarantee thus allows him to obtain financing at lower rates, among receiving some tax-related benefits. Risk-reward...

Like I said before, his debt/asset and debt/equity ratios (per Forbes numbers) look quite healthy.
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Why would his personal guarantee gain lower rates unless the business he is using to get the loan is in trouble? Wouldn't the loan be guaranteed by the property the company is buying?
I know of no tax benefit from personally guaranteeing a loan since Trump's businesses are all LLC's that would function as pass throughs for tax purposes. In fact, the business is the only entity entitled to business expenses and not Trump personally.
The risk/reward is all wrong to personally guarantee a loan since it no longer puts the risk on the LLC but moves it to him personally. He can no longer turn the property over to the bank and walk away if the venture fails.
 
floridafan said:
Because there is proof of massive debt and we should know where it is owed to. Is it mortgage debt or personal debt to Russia, Turkey or maybe even NK.
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/shrugs.....no there isn't.......all you have is the claim from the NYT......when was the last thing they got something right.......
 
gfm7175 said:
You're still not making a case of any wrong-doing by the President... You're just speculating based on your assumption of him as a person.

And why are you acting as if his debt is "massive" when it actually isn't, per your acceptance of my prior comment?
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Never said his debt was massive, nor did I say he did something wrong, rather that when a President owes billions to others and those billions are coming due while he is President, Americans should know who holds the IOU's so they are guaranteed that special favors or treatment isn't extended, not really all that complicated
 
floridafan said:
Those disclosures are very general and do not cover the specifics of private loans or obligations.
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But they tell you who made the loan and who Trump owes the money to.

What else do you want to know? Do you know all that information about the other candidate(s)?
 
floridafan said:
The Times revealed that Trump has to pay back $421 million in the coming years in a bombshell exposé detailing his personal and business tax returns. The documents obtained by the outlet showed that Trump had paid $0 in federal income taxes for a decade before paying $750 in 2016 and 2017. Moreover, they showed that the president had reported losing hundreds of millions of dollars on the properties he operates.

Though Trump previously called the report “fake news,” he did not deny that he owed more than $400 million at Thursday’s NBC News town hall. Rather, he falsely insisted that the outlet had illegally obtained his tax information. The president declined to say to whom he owes money.

“I have a very, very small percentage of debt compared” to my wealth, Trump claimed.

The president alleged that he took on the debt as “favors to institutions that wanted to loan me money.”

“It sounds like you’re saying $400 million isn’t that much,” moderator Savannah Guthrie responded. “But are you confirming that, yes, you do owe some $400 million?”

“What I’m saying is that it’s a tiny percentage of my net worth,” Trump replied. “. . . I don’t owe Russia money. I owe a very, very small . . . It’s called mortgages. People have a house, they put a mortgage.”

“I don’t owe money to any of these sinister people,” he continued. “This has been going on for years now.”

Asked if he owed money to any foreign entity, Trump replied: “Not that I know of.”

“I will probably . . . I will let you know who I owe whatever small amount of money,” he added.

In fact, Trump’s company reportedly owes about $340 million to German financial giant Deutsche Bank, the embattled institution which was one of the few banks willing to lend him money after a series of bankruptcies and defaults. While Trump appeared to acknowledge the $421 million in personally guaranteed loans that were reported by The Times, a Forbes analysis found that Trump’s total debt was actually closer to $1 billion.

Trump has earned more than $200 million in income from his interests in foreign countries since 2016, according to an analysis by the Center for Responsive Politics.
https://www.rawstory.com/2020/10/tr...-apparently-owes-more-than-twice-that-amount/
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Maybe it is tiny, compared to what he actually owes & has yet to be revealed??
 
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