Trump Has Paid NO Taxes...

@divegeester said
So his best case scenario here is that he’s a perennially crap businessman?

@moonbus said
Trump has maneuvered himself into a damning dilemma. Either he is a looser of a businessman, or he is gaming the system and playing honest tax-paying Americans for suckers.

I suppose his loyal base will say the fed deserves to be cheated anyway.

If Trumpty Dumpty says it’s fake news, then let’s see the tax returns. Now. Before he is ‘entitled’ to another term, he owes ...[text shortened]... ncome. The public should know to whom he is beholden, and where potential conflicts of interest lie.

@wolfe63 said
...in 10 out of the last 15 years.

https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html

The Trump family are "LOSERS".
Their followers are "SUCKERS".

@philokalia said
It would seem to be wise to take advantage of all of the loopholes available to get ahead.

I am also sure that many others benefit exponentially from these same loopholes.

If you dislike loopholes, vote against them.

Otherwise, do not criticize the people who use them...

Moreover, I do think that many of these actually exist in a way that is not destructive -- for instance, yuo get tax write-offs for giving to charity.

@metal-brain said
It is in dispute. Trump claims he followed Fauci's recommendation. Since Fauci downplayed the threat of SARS2 in the beginning that is entirely consistent with the timeline of Fauci statements.

Why are you so eager to blame Trump for Fauci's endless contradictory statement and lies? I listed many of them on my "RFK jr. says Fauci is a fraud" thread. Fauci has deliberat ...[text shortened]... th times it resulted in people dying.

Why are you ignoring Fauci's lies? His lies killed people.

“New York Times Fails at Outlining President Trump’s Taxes Again…
Posted on September 27, 2020 by sundance
Once again the New York Times attempts to make an issue out of President Trump’s real estate holdings working as a tax shelter and reducing income taxes.

In the article the Times completely obfuscates the way income taxes are strategically offset by depreciation, mortgage interest and the entire reason why real estate ownership is viewed as a business.

John Carney writing for Breitbart gets it:

[…] So imagine our guy took out an $8 million mortgage at five percent, paying $2 million cash. Now he’s got to pay $400,000 in mortgage payments. He wants to make at least that much so he charges tenants an aggregate of $425,000, which after upkeep comes out to $410,000 of net income. (Remember, if the bank didn’t think he could make more in rent than the mortgage payment, it probably wouldn’t have lent him the money.) The interest payment on the loan–let’s call it $390,000–is deductible from his income, leaving him with $20,000 in net income. He gets to keep that and pay no taxes on it, however, because he still gets to apply the $370,000 depreciation charge. He tells the IRS he lost $350,000.

Under our tax code, ordinary business expenses can be deducted in the year they are incurred. But when a business pays for a long-lasting item expected to produce income–like machinery, vehicles, or an apartment building–it is considered a capital investment. Instead of getting to write-off the cost all at once, the business is required to write it off over the course of decades. After the 1986 tax code, this was set at 27.5 years for residential real estate. (more)

Anyone who has ever operated a business knows that offsetting income is one of the primary reasons to be self-employed. Additionally, the Times completely skips over the tens-of-millions in payroll taxes paid by the Trump organization and tens-of-millions in property and sales taxes paid by all of the various Trump properties.

In the commercial real estate market it is common sense to offset income tax liabilities with a host of valid annual expenses, long-term capital depreciation and mortgage interest payments. With over 500 individual business entities within the Trump organization the ability to offset income in one asset with expenses in another is simply good accounting.

Additionally, President Trump donates his $400,000 government salary back to the U.S. government. So to accuse President Trump of only paying $750 in income taxes totally ignores all of the other donations and tax payments he makes.

In practical terms no President before Trump has ever had his actual business portfolio so deeply connected to the success of the American economy. It doesn’t cost the American taxpayer a dime to have President Trump in office…. Now let’s figure out how DC politicians making $200k/yr are able to become multi-millionaires while holding office.”

@mott-the-hoople said
Last Thursday the court ruled congress cannot have Trumps tax records...this is the dems answer...just make some stuff up that there is no defense for.

@earl-of-trumps said
So in other words, an ACTIVIST within the IRS stole the information. Nice.

Is this called "election interference"? I think so. Jail NYT.

@philokalia said
It would seem to be wise to take advantage of all of the loopholes available to get ahead.

I am also sure that many others benefit exponentially from these same loopholes.

If you dislike loopholes, vote against them.

Otherwise, do not criticize the people who use them...

Moreover, I do think that many of these actually exist in a way that is not destructive -- for instance, yuo get tax write-offs for giving to charity.

@earl-of-trumps said
So in other words, an ACTIVIST within the IRS stole the information. Nice.

Is this called "election interference"? I think so. Jail NYT.

Some will raise questions about publishing the president’s personal tax information. But the Supreme Court has repeatedly ruled that the First Amendment allows the press to publish newsworthy information that was legally obtained by reporters even when those in power fight to keep it hidden. That powerful principle of the First Amendment applies here.

"“In 2017, a single worker without children who made $18,000 would have paid $760 in federal income tax. Donald Trump paid $750.”

Seth Hanlon

@mott-the-hoople said
“New York Times Fails at Outlining President Trump’s Taxes Again…
Posted on September 27, 2020 by sundance
Once again the New York Times attempts to make an issue out of President Trump’s real estate holdings working as a tax shelter and reducing income taxes.

In the article the Times completely obfuscates the way income taxes are strategically offset by deprecia ...[text shortened]... how DC politicians making $200k/yr are able to become multi-millionaires while holding office.”[/b]

@philokalia said
It would seem to be wise to take advantage of all of the loopholes available to get ahead.

I am also sure that many others benefit exponentially from these same loopholes.

If you dislike loopholes, vote against them.

Otherwise, do not criticize the people who use them...

Moreover, I do think that many of these actually exist in a way that is not destructive -- for instance, yuo get tax write-offs for giving to charity.

@no1marauder said
" It doesn’t cost the American taxpayer a dime to have President Trump in office"

Ha ha. A few examples:

"When combined with the State Department’s own spending of more than $230,000 to support this trip, the total costs to the taxpayer of the President’s two-day stopover at his resort in Scotland amount to more than $1.1 million."

https://oversight.house.gov/new ...[text shortened]... ral government as a conduit to funnel money into properties and businesses that directly profit him.

@averagejoe1 said
Take as many trips as you would like, as long as you work as hard as he does. About 16 hours a day. Obama did not work nearly as hard as he does.
On another note, I noticed a lot of comments about Trump taxes. He simply took advantage of every tax loopholes, which is all legal no matter how much he paid. But get this… Joe Biden was involved in making every tax loo ...[text shortened]... rs need to start worrying about tomorrow night, which will be the worst 90 minutes in Biden’s life 😵