Trump got $270M debt for Chicago tower forgiven, no taxes paid. He says he's smart, not bad

[highplainsdem]

Tweet from Mueller She Wrote commenting on another tweet linking to the NYT story:

Link to tweet

Trump's tweet about this, minutes ago:

Link to tweet

[beachbumbob]

1. wonder how he did it with not paying taxes on the forgiven part, mu cousin had to pay

$1500 on the 'forgiven part" of his repossessed car loan that wasn;t covered by the auction

[Bengus81]

2. Yeah and the IRS will chase you down for any forgiven credit card debt

They consider that income and therefore you can pony up tax $$$. My guess is Trump had so much other debt and loses he still didn't have to pay on the forgiven part.

Sure was nice of those huge banks to let Trump walk on $270M in debt in 2010 while they were KICKING people out of their homes and repossessing them by the millions back then.

[soothsayer]

3. Here's a little recap

https://www.democraticunderground.com/100214375071

[no_hypocrisy]

4. When Trump loses money, everyone else does too.

Banks that loaned him the money. The contractors who essentially rendered free service to him (and to pay their subcontractors out of their own pockets). The investors.

That's why the Trump Organization turned to Russia and Deutsche Bank for financing. American Banks learned their lessons.

[doc03]

5. The excuse I heard from Trumpists yesterday was if he owed any income taxes the IRS

would have arrested him years ago.

[muriel_volestrangler]

6. I do not understand why they wouldn't pursue that debt

The Trump organisation claimed to be solvent at the time. Trump was on TV, bringing in lots from The Apprentice. They should have either demanded the money, or the property.

Can anyone tell me what the banks gained by forgiving him a debt that big, in 2010? Back then, it wasn't even a political bribe.