According to the House committee: “On his federally mandated financial disclosures, President Trump reported that the Trump Hotel earned him over $150m in revenue during his time in office.
“However, the records obtained by the committee show that the Trump Hotel actually incurred net losses of over $70m, leading the former president’s holding company to inject at least $24m to aid the struggling hotel.
“By filing these misleading public disclosures, President Trump grossly exaggerated the financial health of the Trump Hotel. He also appears to have concealed potential conflicts of interest stemming not just from his ownership of this failing business but also from his roles as the hotel’s lender and the guarantor of its third-party loans.”
Profits from a business are different from revenues from a business. Umm, yes?
It might not be necessary to be fiscally ignorant to be a Democrat but apparently it does help.
America’s top Chinese Communist Party and/or Israeli owned paedophile fraudsters are still mad that BLUMF had the audacity to win an election, and much of what passes for Yank politics is now about trying to punish and humiliate everyone involved in that, including the voters.
It’s a gayer and more effeminate setup than when Spartans ritualistically terrorised and murdered their Helot slaves, but played for the same purpose.
Mr Smith Goes To Washington tried to warn them about this in 1939, so it’s not exactly a new problem, it’s just metastisized beyond any possible hope of recovery that doesn’t involve friendly neutron bombs, hemp, or anthropophagic leonids as-a-service.
Hmm, so we were constantly told that OMB was enriching himself improperly via the presidency. Now it’s, never mind, he was losing money, the bastard! OK then
I like forward to Hunter’s tax returns after his first painting exhibition. How much went to the big guy?
Aren’t Leonids those shiny meteor things that we see in Autumn ?
@ Steve:
America’s top Chinese Communist Party and/or Israeli owned paedophile fraudsters
How dare you!
Some of them are owned by Saudi Arabia too…
In fairness American politicians (ok maybe all politicians) are very equal opportunity and pro-diversity when it comes to taking money from people
What you quote is via Ground News, but the original is a press release:
https://oversight.house.gov/news/press-releases/committee-uncovers-evidence-that-trump-concealed-millions-in-losses-hid-debts
which is important as the exact wording matters. What it says is that Trump personally got $150m from Trump Hotel, so it is revenue for him – not for the hotel. Also the hotel made a loss of $70m – not Trump personally. So there’s no contradiction there. Profits from a business are indeed revenues from that business unless you have some offsetting costs, which are not normally counted (e.g. if someone says they earn $100,000 per year, you don’t normally regard that as mere revenue and start deducting things like commuting costs).
If you follow the link to the committee’s letter to the GSA at the foot of that document, we find a table showing totals for “Trump’s Financial Disclosure, ‘Employment Income’ for Trump Hotel” of $156,561,805 and “Mazars-Audited Financials for Trump Hotel, Net Income” of -$73,896,158.
It also means that if he had not extracted the $150m, then instead of making an overall loss of $70m, it would have made a profit of $80m. It’s not clear if he really did get that money. It’s a great trick to extract that amount of money leaving a loss. Presumably, if it was “employment income” then he would have paid income tax on it.