The IRS is on his side too since he now has some additional write offs.
In addition to "massive" tax cuts and additional write-offs, Trump talked of spending tens of billions more on the military and $1 trillion on infrastructure projects, with no explanation of how to achieve that without expanding the debt, which he criticized his predecessor, President Obama, for having increased.
The operation is still carried on Dow Jones's books at $550 million, and the company said in a filing with the Securities and Exchange Commission yesterday that it would take an additional write-off.
BP also took $4.1 billion in additional write-offs for the gulf spill in the quarter, bringing total provisions to $42.2 billion.
Shell, which has just received the go-ahead from shareholders for a £35bn takeover of rival BG, is expecting to make additional write-offs of up to £5bn.
But he added: "We have had to sit for some time while a lot of bogus nonsense has been talked about huge levels of additional write-offs.
Dresdner Bank, which acknowledged on Wednesday that it would have to take additional write-offs, dropped nearly 8percentto to 57.20 marks -- roughly $34.50.
Enron has ample access to cash, the company's chief executive said yesterday as he assured investors that there was no need for additional write-offs stemming from unusual financing activities.
They allow the poorest people for the first time to take additional write-offs for education and health care, and reduce the revenue tax, until now 4percentt of company income, to 1percentt.
Yesterday's filing provided some additional details on Enron's relationships with various related partnerships whose debts Enron could be forced to pay, and it said that additional write-offs could come as early as the current quarter if it concluded that asset values in the partnerships had declined.
As I fall into a 30percentt federal and state bracket, the additional write-off works out to a savings of $600 -- not monumental moola, but likely enough to cover several sumptuous spreads of my favorite paella at a Zagat-recommended restaurant.
