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3 tweets,
1 min read
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1) "He didn't lose a billion dollars. He had a billion dollars of losses inside companies that were making a heck of a lot more than a billion dollars." - Newt Gingrich
Newt is making this up, Trump's businesses were bleeding money at the time.
Newt is making this up, Trump's businesses were bleeding money at the time.
2) "If [Trump] had lost a billion dollars he would have been out of business. He was not out of business." -- New Gingrich
Trump's core holdings fell into bankruptcy protection at the time - sometimes called "out of business." And Trump almost went personally bankrupt.
Trump's core holdings fell into bankruptcy protection at the time - sometimes called "out of business." And Trump almost went personally bankrupt.
3) The Times' reporting shows Trump's losses didn't derive from depreciation or write-offs associated with the tax code. Trump's businesses lost money -- and reported the losses to the IRS -- largely because Trump ran them poorly. "Ineptitude" is different from "depreciation."
