So what I want to know is whether or not this is that unusual for someone in real estate.

The discussion on r/politics is myopic and the discussion on /r/tax lacks detail.

From the NYT article:

The numbers show that in 1985, Mr. Trump reported losses of $46.1 million from his core businesses — largely casinos, hotels and retail space in apartment buildings. They continued to lose money every year, totaling $1.17 billion in losses for the decade.

Trump's statement/tweet:

“You always wanted to show losses for tax purposes....almost all real estate developers did – and often re-negotiate with banks, it was sport,

Now my very limited understanding of real estate and taxes is this:

• You can depreciate the building but not the land
• Depreciation can be carried over multiple years
• When you sell property you can roll those proceeds into the purchase of another property, thus delaying income tax

Are those accurate? If so, do they explain Trump's taxes?

I'm thinking not (I suspect Russian money laundering is the real source of income). However, I have yet to read a good discussion of the specifics. Has anyone read such a discussion or have insight to add?

Main story from NYT:
https://www.nytimes.com/interactive/2019/05/07/us/politics/donald-trump-taxes.html?action=click&module=Top%20Stories&pgtype=Homepage

CNBC's article about Trump's response:
https://www.cnbc.com/2019/05/08/trump-defends-tax-tactics-after-nyt-story-says-he-racked-up-more-than-1-billion-in-losses-it-was-sport.html

EDIT: As an aside, I got into a wee bit of trouble because my wife's (very) small business lost money three years running. The accountant that I worked with informed me that if a business losses $ three years in a row, the IRS considers it a "hobby" and you can't subtract those losses from your personal taxes. Is that in play with Trump at all? If not, why not?

EDIT2: I'm going to answer my own question I think. I heard a good segment on NPR yesterday that addressed my question. You can read the transcript here: https://www.npr.org/2019/05/08/721552462/president-trump-defends-himself-against-report-he-did-not-pay-taxes-for-8-years

The bottom line is it's not so unusual but it doesn't exclude the possibility of him running his businesses poorly either. So I think it's not really what the headlines have made it out to be.

week seven comes a bit early this week again because this week offers up what might be the most articles that i've covered in one of these so far. no [LONGFORM] articles this week, but we do have a lot of policy stuff, mostly from the secondary and lesser candidates!

the usual note: common sense should be able to generally dictate what does and does not get posted in this thread. if it's big news or feels like big news, probably make it its own post instead of lobbing it in here. like the other weekly threads, this one is going to try to focus on things that are still discussion worthy, but wouldn't necessarily make good/unique/non-repetitive discussion starters as their own posts.

Week 1 thread • Week 2 thread • Week 3 thread • Week 4 thread • Week 5 thread • Week 6 thread

News

General Stuff

• from NBC News: Democrats face defining 2020 question: Does defeating Trump outweigh all else?. this is possibly the biggest question democrats have to answer this election cycle, and it's not a question that is readily or easily answered since a lot of it ties into other problems like representation and electability. expect this to continue to be a major theme since it's already been one from the beginning.

• from Pacific Standard: The 2020 Democratic Candidates Are Split on Letting Incarcerated People Vote. one low-key issue that seems to be becoming a defining issue is the matter of incarcerated people voting. i imagine this is an issue that is not going to receive much coverage, nor be center fold in most candidate's platforms, but nonetheless, some people have already taken stances on it (sanders is a yes, buttigieg is a no).

• from Vox: Women of color want 2020 Democrats to work for their vote. this was also a point of note last week in the Guardian (see Black female voters to Democrats: 'You won't win the White House without us' with the 'She the People' forum, and i anticipate this is not an issue that's going to go away.

Joe Biden

• from NBC News: Biden is the Democratic front-runner, but a vulnerable one. we begin with NBC News and their big takeaway from biden's entry to the democratic primary:

Bottom line: 96 hours in, Biden looks more like John Kerry of 2004 (the slight front-runner in a volatile Democratic field) than Al Gore of 2000 or Hillary Clinton of 2016.

• from Jacobin: Joe Biden Is Not a Blue-Collar Candidate. jacobin offers up this take, arguing that biden is not a blue-collar candidate because his voting record suggests he sells out the working class often, and while he is generally acceptable at representing the white working class, he fails to really represent minority working class voters and therefore cannot be a properly blue-collar candidate.

• from the Atlantic: Biden Is Betting on Unions. They Might Bet on Someone Else. biden is of course angling for the union vote and union endorsements, which he's already winning to some extent with an endorsement from the (admittedly in the biden tank) International Association of Fire Fighters (membership: 300,000). he's going to have a hard time garnering labor endorsements, though, because he is far from the only candidate with union ties. as the article notes, among the other candidates vying for the backing of the unions are sanders, warren and harris, and each of them have arguably just as much claim to the working-class as biden does (see also last week's Democratic presidential candidates seek union support at workers' forum).

Bernie Sanders

• from CBS News: Bernie and Biden: Fighting for Trump voters. one of the side effects of how this primary is being waged is that obama-trump voters are being targeted significantly by just about everybody involved. this targeting by the two ends of the primary (and the related issues involved with that) is the subject of this article by CBS News.

• from Reuters: Bernie Sanders promises help for family farms, rural residents on trip to Iowa. policy-wise, sanders has focused on rural communities in recent weeks, promising among other things to "strengthen anti-trust laws to block new corporate agriculture mergers and break up existing monopolies" and "changes to farm subsidy programs to shift the benefits away from bigger farms to smaller and mid-sized operations".

Everybody Else

• from Buzzfeed News: Almost Two Months In, Beto 2020 Is Still In Flux. Staffers Know They’re Behind. despite looking like a relatively early frontrunner in the race, beto has been worse-than-stagnant in the past few weeks, dropping back behind warren, harris, and buttigieg. things aren't looking up either: as the article notes, the campaign is still in the process of trying to fill positions and not lose people (see also, week 5's somewhat related A Top Adviser To Beto O’Rourke Has Left His Presidential Campaign).

• from CBS News: Elizabeth Warren bets big on policy to break through crowded Democratic field. warren's focus on policy so far has been well documented, and this CBS news article mostly focuses on that in comparison to other candidates, who barely have sketches. it also tackles the electability issue, though, which it notes could be a problem that weighs down warren's prospects (cf. last week's Can a woman beat Trump? Some Democrats wonder if it's worth the risk):

New Hampshire is a state where Massachusetts candidates like Warren typically do quite well, but a Suffolk University survey of Granite State Democrats released earlier this week had her in fourth place behind Biden, Sanders, and Buttigieg. When asked why, nearly 1-in-5 non-Warren voters said the main reason they don't support her is because they doubt she can beat Mr. Trump.

• from the Atlantic: Mayor Buttigieg Is Working Remotely Today. this article mostly focuses on the interesting issue buttigieg has--which is, of course, that he is still the mayor of south bend while he's out campaigning. since buttigieg has state he has no intentions of stepping down from the mayoral position he holds (and his term expires in november), this is probably going to be an interested background note of his campaign for the next little while.

• from POLITICO: Gillibrand proposes public campaign financing plan. kirsten gillibrand has policy too, folks! admittedly, i have no idea why her policy takes this form, but she nonetheless proposes that:

...eligible voters could opt into her “Democracy Dollars” program and register for vouchers, provided by the Federal Elections Commission, to donate up to $100 in a primary election and $100 in a general election each cycle. Each participant would get $200 for each type of federal contest: House, Senate and presidential elections.
But there would be limits on both donors and candidates in order to use the public voucher program. Voters could contribute only to candidates in their state — including House candidates outside their district but within their state. In order to accept the public money, candidates would have to restrict themselves to accepting only donations of $200 or less.

• from Roll Call: Klobuchar plan to combat addiction draws on experience with her dad. klobuchar also has policy! this mostly focuses on addiction and mental health, and a summary was helpfully provided by a press release i don't have on hand:

“Amy will support incentives for state governments to enact ignition interlock laws for those convicted of drunk driving to help reduce repeat offenders. Since problems with alcoholism often start early, Amy will support educational initiatives that focus on the risks of alcohol as well as early identification and treatment of alcoholism,” a summary said.

supplemental reporting by CBS News also notes the following: "The Minnesota Democrat wants to pay for treatment for those addicted to opioids by charging a two-cents-per-milligram fee to companies that make the drug."

• from Vox: Cory Booker now has the most ambitious gun control proposal of any 2020 candidate. cory booker meanwhile is focusing on gun policy. as vox writes:

His plan includes the typical Democratic proposals: universal background checks, an assault weapons ban, better enforcement of existing gun laws, and more funding for gun violence research. But Booker’s plan goes further by requiring that gun owners not just pass a background check but obtain a license to be able to purchase and own a firearm. It’s a far more robust gun control proposal than any other presidential candidate has proposed.

in many respects this is similar (but more comprehensive in some respects and les comprehensive in others) to the current gun policy of massachusetts. booker's plan also includes a national database for tracking firearms, and also limits on purchases to prevent things like resale. vox's part of the writing here also has info on the underlying research and statistics with respect to whether or not these policies work (for the most part, they seem to).

• from CBS News: Jay Inslee unveils plan for 100 percent clean energy by 2030. jay inslee is a lower-rung candidate, but that hasn't stopped him from pushing the limits on climate policy. among other things, his ideas include: "100 percent clean energy, mak[ing] all new vehicles zero-emission, and [eliminating] the carbon footprint for all new buildings." you can find his policy specifically here.

• from Grist: A tale of two Washingtons: How Jay Inslee aims to take his climate plan nationwide. Grist goes into more detail on inslee's policy, mostly focusing on how they're being implemented in washington, inslee's home state, and how they compare to the other climate policies in the race already like beto's.

• from CBS News: 2020 hopeful John Hickenlooper unveils plan to "re-energize trade with the world". john hickenlooper has hitched his wagon to trade, of all things. the main planks of his policy on fair trade, which is possibly one of the least energizing seminal issues a campaign can run on, are:

• Ensure trading partners adopt and enforce fair labor and safety standards
• Ensure the protection of IP rights of American companies
• Require trading partners to enforce environmental and climate standards
• Ensure U.S. firms enjoy equitable and comparable investment rights abroad
• Ensure U.S. workers have assistance to adjust to job displacement from trade

if you're interested in that sort of thing, CBS also helpfully embedded the five-page outline going into more detail on those planks in the article.

Opinion/Ideology-driven

• from Pacific Standard: There's No Good Way to Determine Electability Other Than Holding Elections. this is an interesting piece which is hard to summarize, but probably the best summary of it is what it concludes on the matter of electability:

...the discussion around the topic is fraught, particularly for the Democratic Party, which has defined itself in recent decades as the party that embraces and seeks inclusion and diversity. If you're going to assert that a white man is better qualified for a job (the party's nominee) by virtue of being a white man, you really need to be sure on your facts. And the facts just aren't there.

• from Jacobin: Stick With Bernie. this jacobin piece argues that progressive/leftist types need to rally behind bernie given biden's strength, or else they risk a biden v trump general election which would likely (in their view) go the same way as clinton v trump did in 2016. it's pretty much impossible to tell this far out, but honestly, it's pretty easy to see their point here given biden's circumstances.

• from Truthout: The Era of “Centrist” Establishment Democrats Is Over. this op-ed from Truthout strongly rebukes the "centrist" tendency of the democratic party, arguing that there is basically no place for that tendency anymore and that it simply does not and cannot produce a winning coalition at this point. bold and new ideas which buck the traditional orthodoxy in this view are the only way to mobilize and produce a winning coalition, because otherwise either too many people stay home, or not enough people vote democratic.

• from the Guardian: Bernie Sanders needs black women's support. So what's his plan to win us over?. bernie's biggest failing so far between his two presidential runs has almost certainly been his failure to appeal to minority voters, particularly black women. this is of course an issue because he likely needs black women to win the primary and the general. as allison writes here: "Black voters and women of color do not want another president who does not see or value us. Sanders needs to let us know that he understands deeply how frightening, difficult and dangerous this political moment is for us, and for the entire country."

• from the Guardian: Joe Biden wants us to forget his past. We won't. perhaps the biggest failing of biden on the other hand is his absolutely god awful track record, for which he is raked here and will likely continue to be raked. the main crux of the op-ed:

As times have changed, Biden has expressed retrospective misgivings about some of those earlier actions and stances. For example, he very recently attempted to offer an apology of sorts, more like an unpology, to Anita Hill, which she quite understandably rejected. And he remains a pure, dyed-in-the-wool neoliberal, as much as ever a tool of Wall Street and corporations. We deserve better than a candidate who wants us to look past his record and focus only on the image he wants to project and, when that tack fails, can offer progressives only a “my bad”.

• from the Guardian: We can't save the planet with half measures. We need to go all the way. this is one part an op-ed written about climate change, one part an op-ed responding to beto o'rourke's climate plan. on one hand, it does note that o'rourke's plan is good--but it also notes that "good" is not nearly enough to avert the problem, and it's also a downgrade from what o'rourke originally endorsed, which was net-zero emissions by 2030.

• from the Guardian: Is Elizabeth Warren's college plan really progressive? Yes. this op-ed is pretty straightforward and argues against the somewhat-weird position that warren's college plan isn't progressive because it also helps middle-and-upper-class people that's been advanced by a few people.

anyways, feel free to as always contribute other interesting articles you stumble across, or comment on some of the ones up there.

week six comes slightly early, because i have way too many links and i actually started writing this yesterday because it's just over a page and fuck writing all this in one day, lol. the [LONGFORM] tag continues and finally returns, offering up two pieces to us today.

the usual note: common sense should be able to generally dictate what does and does not get posted in this thread. if it's big news or feels like big news, probably make it its own post instead of lobbing it in here. like the other weekly threads, this one is going to try to focus on things that are still discussion worthy, but wouldn't necessarily make good/unique/non-repetitive discussion starters as their own posts.

Week 1 thread • Week 2 thread • Week 3 thread • Week 4 thread • Week 5 thread

News

General Stuff

• from FiveThirtyEight: What The Potential 2020 Candidates Are Doing And Saying, Vol. 16. a pretty quiet week for most of the candidates. most of the highlights came after the end-date for this volume and will be reflected in next week's.

• from NBC News: Can a woman beat Trump? Some Democrats wonder if it's worth the risk. even though it's pretty inane, this topic is probably going to be a recurring theme, because voter preferences are some of the absolute weirdest, most unfathomably illogical shit possible. electability is a large part of why this is probably going to be a theme: clinton might have poisoned the well for all of this year's "first" candidates by fucking up in 2016, and that might make voters hesitant to pull the lever for another one. but again, who the fuck knows. voter preferences have an uncanny tendency to make zero sense.

• from the Guardian: Black female voters to Democrats: 'You won't win the White House without us'. another recurring topic is going to be the black female vote, which is consistently the most democratic bloc possible. in really any place where there's a significant minority vote, democrats have to turn these voters out significantly, and obviously presidential primaries and elections aren't exceptions to that rule. most of the candidates don't seem to be doing the best job of winning them over yet.

• from Reuters: Democratic presidential candidates seek union support at workers' forum. union voters could be significant in the democratic path to the presidency, and so you're seeing a lot of democrats try and angle themselves as union candidates also. which one will win out here? i have no fucking clue.

• from NPR: The Democratic Field Is Set: 8 Questions About What Comes Next. NPR offers up a series of questions about the trajectory of the primary, which will probably aid us in the coming months:

1. How far does name identification go?
2. It's there for Biden now, but can he prove himself?
3. Can Bernie Sanders expand beyond his loyal base?
4. Does Pete Buttigieg continue his momentum?
5. Does Elizabeth Warren find her lane?
6. Does Beto O'Rourke get edged out or does he find his way in?
7. Can Kamala Harris supercharge her candidacy – and fend off Biden in South Carolina?
8. Can others have a breakout moment?

Joe Biden

• from the Atlantic: Unlike His Rivals, Biden Sees Trump as an Aberration. we begin this week with how biden is framing his candidacy. one of the cruxes of biden's campaign is that trump doesn't reflect a change of values in the american public or even in the republican party, necessarily. in his view, the status quo hasn't really changed, and if we return to electing people like biden then trumpism will effectively cease. whether you buy that, i leave up to you.

• from Vox: The health care industry is betting on Joe Biden in its war against Medicare-for-all. another thing about biden is that he has very decisively positioned himself against medicare-for-all, which mostly reflects his status as an establishment candidate. this, as it happens, is super great if you're a lobbyist for the healthcare industry, which is unsurprisingly and firmly in biden's camp in this election.

• from Buzzfeed News: Joe Biden Backs A Public Option — Not Medicare For All — As He Argues For Electability. as far as biden is concerned though, this is mostly a matter of electability. among his other points of policy: "[a] on noncompete clauses ... a $15 minimum wage and ... a more simplified process for issuing professional licenses."

• from the Guardian: 'Battle for America's soul': Biden comes out swinging at first 2020 event. beyond that, biden also has this for policy: "reversing Trump’s tax cuts for the wealthy and corporations" and "enacting the so-called “Buffett Rule” – which would apply a minimum tax rate of 30% on individuals making more than $1m". he's supposed to unveil more of this in the near future.

• from Slate: 10 Questions Joe Biden Needs to Answer About His Views on Race. Slate offers up 10 questions that they feel joe biden is obligated to give us better answers on, thanks in no small part to his incredibly long history of being a dumb politician who might now be on the wrong side of the political traintracks.

Bernie Sanders

• from Buzzfeed News: Bernie Sanders Is Getting A Shadow Organizing Campaign In The Midwest. bernie sanders has had a quiet week in the media, relatively speaking. one of the only notes from this week about him came in the form of people realizing that yes, our revolution does actually exist and yes, it does actually do things. the sanders campaign is probably going to need things like this to win this year.

Beto O'Rourke

• from the Guardian: Beto O'Rourke is coming to California. Can the trip redeem his campaign?. beto has been busy in california the past few days trying to drum up support, which is easier said than done because he's on the wrong side of a wave now. he's been quietly slipping in the polls for the past little while, to a point where he's now usually sixth or so in the order. will stumping in california help with this at all? probably not, but he's gotta do it at some point.

• from NBC News: Beto O'Rourke releases $5 trillion plan to combat climate crisis. on the policy front, he's finally getting around to expanding on what he's running on. his climate change plan is fairly extensive:

The plan begins with proposed executive actions, including rejoining the Paris climate agreement on day one of an O’Rourke administration and moving quickly to raise efficiency standards for buildings, cars and appliances. Longer term executive actions include setting a net-zero emissions carbon budget for federal lands by 2030 and adding more national parks and monuments to protect land and seascapes.
The meat of the O’Rourke plan is a promise to send Congress, as his first piece of legislation, a bill that would mobilize $5 trillion over the next 10 years to upgrade infrastructure and spur innovation — including more than a trillion dollars in tax incentives to reduce emissions, and $250 billion dedicated directly to research and development.

• from Buzzfeed News: Beto O’Rourke Is The Latest Democrat To Make Climate Change Central To His Campaign. Buzzfeed News helpfully fills in some of the other details, such as this:

His plan, starting day one in the White House, would include spending a record $5 trillion on climate action over ten years and mandating the US reduce its emissions to net zero by 2050. (This means the nation, by midcentury, would no longer be emitting more climate pollution into the atmosphere than it was pulling out of it through trees and other ways.)

Elizabeth Warren

• from POLITICO: Warren puts Bernie on defense. POLITICO pitches the interesting take that warren is putting sanders on defense by pushing a shit ton of policy. this seems... dubious? at best, given that warren is polling at literally half of what sanders does, sanders has greatly outraised her, and in general the two just have not interacted especially significantly at any point in the campaign so far. but a take is a take.

• from Truthout: [LONGFORM] Elizabeth Warren’s Student Debt Plan: An Outsized Economic Boon for People of Color. truthout provides an analysis of elizabeth warren's student debt plan, suggesting that it would be the best for people of color. this is interesting, because...

• from Slate: Elizabeth Warren’s Student Loan Forgiveness Plan Mostly Helps the Middle Class, Think Tank Finds. one of the big takeways most other sources have had is that it would be a boon for the middle class instead. figure that one out.

Pete Buttigieg

• from the Atlantic: Authenticity Just Means Faking It Well. this article is more about authenticity than it is about buttigieg, but its catalyst is buttigieg so i'm placing it in this section. what constitutes "authenticity"? who the fuck knows, honestly, but buttigieg is apparently it in a way that resonates with voters.

Opinion/Ideology-driven

• from Truthout: [LONGFORM] None of the 2020 Frontrunners Go Far Enough on Climate. Truthout opines that realistically, absolutely none of the current frontrunner candidates have a compelling platform on climate change that will work. this might change now that o'rourke has actually unveiled a comprehensive plan, but in general outside of inslee (who is running as The Climate Change Candidate), so far climate change hasn't really played much of a role in the primary.

• from the Guardian: Joe Biden is the Hillary Clinton of 2020 – and it won't end well this time either. this take opines that biden is basically this cycle's hillary clinton and that biden basically does not get it. perhaps the best distilling of this argument is in this paragraph:

Biden’s answer to Trump isn’t systemic change that will make America a more equitable place. He’s not offering progressive policies like Bernie Sanders or Elizabeth Warren. His is the vaguest and most centrist of battle cries: let’s go back to, you know, “all those good things”. Let’s go back to a time where racism was a little more polite and white people could pretend America was a post-racial society. Let’s fight for the soul of America by pretending that Trump is the problem, not just a symptom of the problem. Let’s pretend that Charlottesville was a direct result of Trump – an aberration – and not a product of a racism that has always existed in America. Let’s rewind the clock a few years to when everything was just fine and dandy.

• from the Guardian: Bernie Sanders v the Democratic establishment: what the battle is really about. this piece takes an interesting alternative frame on the major split that seems to divide sanders from the rest of the democratic party. in essence, it is this:

The Shakir-Tanden debate about money in politics at Cap is also the larger debate Sanders is sparking in the Democratic party. Joe Biden opened his presidential bid by allowing a Comcast executive to host a fundraiser for him at his home in Pennsylvania. Sanders, on the other hand, has written off such fundraisers and is insisting on relying on small donor funders, not corporate executives or lobbyists.

anyways, feel free to as always contribute other interesting articles you stumble across, or comment on some of the ones up there.

EDIT: minor grammatical stuff