Donald Trump’s political operation is reeling after spending around $60 million on legal fees pertaining to the four criminal indictments and various ongoing civil lawsuits against him.
Disclosures indicate that Trump’s campaign and the various political action committees supporting it blew through tens of millions of dollars in 2023, leaving him cash-strapped heading into 2024.
Save America PAC, Trump’s primary PAC heading into his likely rematch with President Joe Biden, once had over $100 million in the bank. Now, it has just a little over $5 million left after spending over $25 million on legal bills in the second half of last year alone.
If he has to take a haircut on selling it will just be booked as a loss and used to pay less taxes on other profits.
Sure. But only a portion of that loss equal to the tax rate. I don’t know what that rate is, but it it’s 30% then he’s eating 70% of the loss.
People keep throwing these accounting rules around as if they make losses not matter at all. They do.
True… and the numbers add up… 5 million here, 83 million there, how much is the New York fraud trial? 300+ million? Not to mention the legal fees.
If engeron fines him 300-400 million he’s fucked.
How has Trump always survived his other fiascos? Ans, Putin. The only question is which oligarch will buy his building at 20X what it is worth, then sell it back to him, under market value.
Still, that night will see many beaten prostitutes, 500 Truth Social posts in all caps and ketchup everywhere.
How can he pay less than zero?
It can carry over for several years
Lol, that’s not how any of this works