The great recharge and orange man's taxes

I shot a 95 at Metropolitan in Oakland on Saturday. That’s the best I’ve ever shot and while I have long ways to go before I can call myself a good golfer, I’ll take a 95 on my 4th round after not golfing in years. I have the golf bug and it feels great to have a COVID safe hobby.

It’s weird to think about, but I haven’t had a hobby like golf over the last year. I’ve always had my friends, running, and food but it feels quite a bit different than golf. When I’m on the course, it feels like nothing else in the world matters and it’s been a feeling that I’ve missed all year.

I’m taking Thursday - Monday off to meet some friends in Joshua Tree. I’m really excited for some time away to relax and recharge before Q4. I can’t wait to be out in nature.

On to the next…

The talk of the town is the orange man’s taxes that were leaked to the New York Times. I can’t say I’m surprised to hear that Trump hasn’t paid taxes… lots of wealthy people don’t pay much in taxes. I am a bit surprised to see just how much money Trump loses.

We all knew he was the poor-man’s billionaire and full of shit, but if the leaks are true, there’s only one thing that Trump is good at in business and that’s losing money.

The question every person’s mind is just how does Trump not pay any taxes? Well it’s relatively simple.

He claims that his businesses lose more money than they make. Now if he truly does lose that much money on each business, that is pretty downright embarrassing, but it should also be noted that the tax code is very favorable for real estate investors.

The real question is whether these are true business losses or artificial tax losses. It’s really hard to say without digging into the details. There are a lot of expenses that the NYT are claiming such as a $750k consulting fee to his daughter which does not seem like a bona fide business expense.

Regardless of these expenses, there’s one thing that we can all draw from Trump’s tax returns and that he is not the successful business man that he claims to be. In fact, he is in a large financial predicament at the current moment.