Donald Trump filed another personal financial disclosure with the Federal Election Commission yesterday, which is not the same thing at all as releasing one’s tax returns for scrutiny. Here is an excerpt from Trump’s dumb statement on the release. (The full statement is at the end of this post, if you dare.)
Mr. Trump stated, “I filed my PFD, which I am proud to say is the largest in the history of the FEC. Despite the fact that I am allowed extensions, I have again filed my report, which is 104 pages, on time. Bernie Sanders has requested, on the other hand, an extension for his small report. This is the difference between a businessman and the all talk, no action politicians that have failed the American people for far too long.
Big talk from someone too afraid to just go ahead and release his returns. Contrary to the bragging tone, this isn’t a very impressive move at all. Indeed, his statement is as questionable the second time around as it was the first. Particularly the dubious self-estimate of $10 billion net worth.
Trump’s latest filing is similar to a 92-page disclosure submitted last June that lists Trump as being associated with 515 different organizations, including LLCs, foreign entities and trusts. The form also provides limited information about his assets and income. For some of his most valuable assets, like Trump Tower and 40 Wall Street, values are listed as being simply “over $50 million.” The mortgages on those properties are recorded similarly, shining little light on how Trump actually values them.
Forbes has been estimating The Donald’s fortune for 33 years. In September we spoke to more than 80 sources to arrive at a $4.5 billion net worth estimate for Trump. He claimed he was worth more than double that. Forbes found that Trump consistently exaggerates the value of his properties, but he also gets a much higher number because of the amorphous multi-billion-dollar value he likes to assign to the “Trump brand.”
What. A. Surprise. The braggart who brags in his statement about his “disclosure” is also bragging in the disclosure.
No wonder Trump doesn’t want to follow the long-standing tradition and release his tax returns. They probably show he’s been lying like crazy about what he’s worth to make himself look more impressive, just like he lies about everything else and for the same reason.
This is just one more example of Donald being Donald, and will offer another day where you can watch the inexplicable spectacle of the deluded or the bought tromping around cable news and radio to explain why it’s great that he did it this way and what a masterful move it is and what a magnificent specimen is he. Gross.
And speaking of gross, here’s the whole inglorious press release. Sorry.
DONALD J. TRUMP FILES PERSONAL FINANCIAL DISCLOSURE FORM WITH THE FEDERAL ELECTION COMMISSION
(New York, NY) May 17, 2016 – Yesterday, Donald J. Trump filed his Personal Financial Disclosure (PFD) forms with the Federal Election Commission (FEC), his second annual filing since announcing his candidacy for President of the United States in June of last year.
Mr. Trump stated, “I filed my PFD, which I am proud to say is the largest in the history of the FEC. Despite the fact that I am allowed extensions, I have again filed my report, which is 104 pages, on time. Bernie Sanders has requested, on the other hand, an extension for his small report. This is the difference between a businessman and the all talk, no action politicians that have failed the American people for far too long. I have built an incredible company and have accumulated one of the greatest portfolios of real estate assets, many of which are considered to be among the finest and most iconic properties in the world. This is the kind of thinking the country needs.”
The newly filed PFD shows a tremendous cash flow, and a revenue increase of approximately $190 million dollars (which does not include dividends, interest, capital gains, rents and royalties). This income was utilized, among other things, for the funding of construction projects at various multi-million dollar developments, reduction of debt and the funding of the campaign.
Mr. Trump’s income as reported in the PFD statement is in excess of $557 million (which does not include dividends, interest, capital gains, rents and royalties). Mr. Trump’s net worth has increased since the last statement was filed in July of 2015. As of this date, Mr. Trump’s net worth is in excess of $10 billion dollars.