atomic_fungus (atomic_fungus) wrote,
atomic_fungus
atomic_fungus

#6656: We already knew this. So what?

Yes, Trump's business lost money. Yes, his taxes were reduced for several years because of it. None of this is new information, let alone news.

They tried this already, during the election, and it was a huge nothingburger. What, they think by repeating it that it'll make a difference? Everything Trump did was 100% legal, and Hillary Clinton did exactly the same thing in years when she experienced a loss, so why does NYT think this is going to go anywhere now?

Karl Denninger explains it:
The NOL rules in many cases forbid you from taking all of that directly against income in the current year but any amount in excess of that is carried forward until consumed, exactly as is the case for someone who has a $100,000 investment loss in the stock market. You can only take $3,000 a year against ordinary income so if you don't have $100,000 in taxable investment gain the next year you consume $3,000 of that, but the remainder is available on a carry-forward basis until you use it up.
Trump didn't write the law, nor did he sign it into law. He had nothing to do with enacting the law. He was a private citizen and operated under the law--the same law everyone else has to follow.

NYT wants to make this into a big deal, because they're trying desperately to generate the perception that Trump is somehow a tax cheat. The problem is, he's not, and further he made absolutely no secret of the fact that he incurred those losses at the time they occurred and at other times going forward.

NYT may, in fact, have either suborned or committed a felony by leaking this information.

* * *

Boeing's 737MAX is still not looking good. Boeing is expecting lawsuits and they're throwing their software vendor under the bus.

Okay, first off, WTF: why is the software not written in-house? Second, why is the software vendor at fault for this when Boeing should have tested that software?

* * *

If you cannot get out of the car when the battery is disconnected, that is a fricking bad, bad, BAD design.

Imagine you've been in a horrible, horrible wreck, and your car is on fire, and you need to get out of the car...only you can't, because the drive-by-wire door latch requires battery power to release.

STUPID.

* * *

It would not fit in seamlessly, but I admit it's damned good nonetheless. I'm tempted to take the original movie and cut this bit into it.

* * *

Tomorrow is Friday. Wooohoo!
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