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Trump's taxes

And why do half of the people “ pay no taxes at all” haw-key? Shouldn’t THAT be the question? Income disparity is this nation’s #1 problem...as it feeds numerous other problems.n
Because that is the way the system is set up. It’s not a problem with not enough earnings as much as it is the way the tax system set up to benefit those in low earning brackets. And before anyone gets any brilliant ideas for a retort, I feel the same about the Uber rich as well
 
The point is the filer is responsible. The history over decades indicates fraud. Any nefarious actions by associate or agents are the responsibility of the filer.

Edit: It has been posted many times, many ways over the years, and you wing nuts refuse to believe it. This is a crime family. It functions as one. It operates as one. It is one.
Then so is the Biden family.
 
Jfc. What witless person would pay 6 figures in taxes, let alone 7 figures (3mm)??!!??

And you want those dumb f***s in charge?

Come on people. Is that your goal to have leaders not know how to jimmy the tax code? Ffs get real
How dumb can you be? "jimmy" the tax code by deducting personal expenses as business expenses?

If you make money, you're going to pay some tax. If you suck as a business man, looks like you can avoid tax for almost your whole life. That and a willingness to commit tax fraud.
 
More nuggets, he's stiffed creditors for $287 million since 2010 (essentially stole the money), and is of course using tax avoidance schemes per that money:

"Mr. Trump has an established track record of stiffing his lenders. But the tax returns reveal that he has failed to pay back far more money than previously known: a total of $287 million since 2010.

The I.R.S. considers forgiven debt to be income, but Mr. Trump was able to avoid taxes on much of that money by reducing his ability to declare future business losses. For the rest, he took advantage of a provision of the Great Recession bailout that allowed income from canceled debt to be completely deferred for five years, then spread out evenly over the next five. He declared the first $28.2 million in 2014."


Link to blogpost highlighting:
https://www.lawyersgunsmoneyblog.co...a-middle-class-couple-will-earn-in-a-lifetime
 
I'm guessing a junior college drop out. If you watch anything other than fox news or listen to anything other than Rush, I would be surprised. Yes....I'm the idiot.
Yes, you are the idiot, glad you've realized this. Master's with double major and minor with CPA so no but nice try sped.
 
The Clintons were subjected to much more scrutiny. Did you forget Whitewater? Trump’s not even released his returns for review. Time for you to move on to your next user name.

No thanks and this is incorrect. Trumps four years is comparable to Clintons eight at least.
 
Looking at it, Trump is in hell now. His body language meandering off stage showed it Sunday. He knows he is going down and worse, he knows all the dirt is just starting to come out and he won’t be able to avoid it nor the impending consequences. Unless Russia can hack the vote, life is going to be spectacularly hard for him and his three oldest kids beginning in late January 2021. Like dying broke in jail hard.
 
No thanks and this is incorrect. Trumps four years is comparable to Clintons eight at least.

You seem to have a lot of disdain for the Clintons, which is your prerogative. Why do you continue to defend Trump if that is the case? It is not OK to excuse what someone is doing by claiming that others are or have done it. Have some standards. Expect better from the President.

I am tired of those justifying the crap that Trump does by saying other people have done it or do it. First, that is not a valid excuse. Second, Trump ran by claiming he was not your typical politician. He has shown that he is even worse as he has no ethics whatsoever and does not care for anyone but himself.
 
Of course the real scandal is......They're so freaking predictable, the relentless self-pwning. I'm sure they'll also continue saying it's fake news, it is the cognitive dissonance party.
The Republican Party seems to have adopted a mafia ethical code where whistleblowers are worse than the actual criminals.

This is a big reason I have abandoned voting for Republicans. Loyalty to party over all.
 
To be fair, his salary in 2017 was $1. He’s donating the rest of his $399,999 salary to charity. I know that means nothing to you all and orange man still bad.

I keep seeing this talking point among my conservative FB friends and I find it hilarious. Do you know what that means to me? It definitely means more than nothing. His salary is probably his only income that would get taxed at the normal tax rate for his income range. Donating all of his salary to charity pretty much avoids that AND he can claim it as a charitable donation. Do you honestly think he did this out of the kindness of his heart?

Translation: Orange man is bad.
 
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Everyone does it, so (note the time from yesterday)


I am betting that everyone on this board has paid more in taxes over the last fifteen years than Donald Trump. I would also be willing to bet that all of the Fox commentators in the above show paid more in taxes than Donald Trump.

Most people do what they can to find the deductions they can take, but still end up paying thousands of dollars in Federal taxes a year. The defense that we are all doing what the Donald has done is incorrect. He is either flat broke because he is a crap businessman (which he does not want to admit) or he is cheating the system. Neither of which should be acceptable for the President of the United States.
 
Ehhh most of us aren’t able to live off untaxable wealth like those people. That being said, it’s pretty easy not to pay any taxes.

Even easier when you can buy a political party for pennies on the dollar of what you SHOULD owe in taxes, to get people elected who will keep your gravy train rolling.

And, you can convince the masses that a "Death Tax" - which doesn't even impact them at all - is "bad". So you can keep your kleptocracy in the family.
 
Rangappa linked this article:

5) The ongoing IRS audit dispute regarding a $72.5 million loss deduction looks very bad for Trump. The Times article suggests that the key issue, for most or all of this claimed loss, is a “worthless stock deduction” from abandoning his interest in the disastrous Atlantic City casino venture. Many years ago, when I was in tax practice, I actually worked on this precise legal issue (for a corporate client of my law firm), so I am quite familiar with it. When you own equity (such as Trump’s partnership interests in the Atlantic City activity) that has lost enormous value, typically the equity constitutes a “capital asset.” If you sell it for an enormous loss, that is only a capital loss, and deduction of the loss is limited to the sum of (a) net capital gains for the year, and (b) $3,000. Disallowed losses are carried forward, but at $3,000 per year they may be worth very little, unless your income in future years includes large capital gains. But if the investment is utterly worthless and you abandon it for zero consideration, it becomes an “ordinary” loss (i.e., one that is not subject to the limits on deducting capital losses).


Trump apparently did this with his Atlantic City partnership interests, and claimed an ordinary loss that seems to have made up much or all of the $72.5 million. But he received back a 5 percent interest in the stock of the new entity. As the Times article rightly notes, this could establish that the entire abandonment loss claim was legally invalid. He would merely have sold his once-valuable asset for a large capital loss, the use of which would be sharply restricted as described above. The Times notes that losing on this issue – as it appears he should, if the stated facts are accurate and relevantly complete – would cause him to owe the IRS about $100 million, given interest on the prior refund. This leaves aside the possibility of civil or criminal tax penalties for claiming an abandonment loss despite receiving consideration back.


 
Looking at it, Trump is in hell now. His body language meandering off stage showed it Sunday. He knows he is going down and worse, he knows all the dirt is just starting to come out and he won’t be able to avoid it nor the impending consequences. Unless Russia can hack the vote, life is going to be spectacularly hard for him and his three oldest kids beginning in late January 2021. Like dying broke in jail hard.
Too good. They should all do their time in some third-world "shithole country" jail.
 
Massive debt, and the ability or inability to pay it off, is a major part of security clearances. The government wants to make sure that you aren't going to use access to classified material to "pay off" your debts or have a foreign entity hold it over your head. That's why foreign contacts and debt are major contributing factors in people not getting cleared.

It's also a major factor as to why the Trump kids had to have their dad give the the clearance. They couldn't get awarded it through conventional means.

Trump literally meets half (or more) of the examples we use in OPSEC and Insider Threat training to identify people who are high risk and need to be reported to CID.
It will come out that he's been laundering millions for his Russian friends by running it through his golf courses.
 
You seem to have a lot of disdain for the Clintons, which is your prerogative. Why do you continue to defend Trump if that is the case? It is not OK to excuse what someone is doing by claiming that others are or have done it. Have some standards. Expect better from the President.

I am tired of those justifying the crap that Trump does by saying other people have done it or do it. First, that is not a valid excuse. Second, Trump ran by claiming he was not your typical politician. He has shown that he is even worse as he has no ethics whatsoever and does not care for anyone but himself.

How did you conclude I have a lot of disdain for the Clintons by saying Trump has had more scrutiny than them during his four years? You really gleaned THAT much information from that one sentence? I actually don't think Clinton was that bad of a president. He really seems to be the last president that worked across party lines.

As far as justifying, Trump says plenty of stupid shit. I've never been one to say he hasn't. He's done some stupid shit too. He's also been the target of some extremely bullshit issues that go WAY too much play in the media and turned out to be nothing burgers. It's not like Biden is this guy that's far and away better than Trump. Biden is not even competent. So with a choice between the two, yeah I pick Trump easily based upon what I hold true to my values which may not fit with yours or many of the libs on here.

I get tired of the endless bombshells and stupid shit that most on this board post about. Most don't read anything outside of what the MSM says and if you point to something contrary, it's conspiracy or right wing BS. You have to actually read both sides because the truth is almost always in the middle. Like this stupid tax crap. Most of this is a bunch of BS whining. Biden has done the same thing with tax avoidance. Reps and libs alike are all about tax avoidance. Why shouldn't we be? Libs are all calling tax evasion without much to go on. They've made Trump guilty of it because they hate him, not because their is proof of it. Much of the Times article would be things the IRS would already know about Trump. It's really not very difficult to understand the forms. Now the Times got a hold of other information OUTSIDE of his tax returns that could be troubling, but people take it for face value only and convict him. Impulsive reactions is what this society is and it's BS. Can't wait until facts come out. We are all instant gratification/results nowadays.
 
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How did you conclude I have a lot of disdain for the Clintons by saying Trump has had more scrutiny than them during his four years? You really gleaned THAT much information from that one sentence? I actually don't think Clinton was that bad of a president. He really seems to be the last president that worked across party lines.

As far as justifying, Trump says plenty of stupid shit. I've never been one to say he hasn't. He's done some stupid shit too. He's also been the target of some extremely bullshit issues that go WAY too much play in the media and turned out to be nothing burgers. It's not like Biden is this guy that's far and away better than Trump. Biden is not even competent. So with a choice between the two, yeah I pick Trump easily based upon what I hold true to my values which may not fit with yours or many of the libs on here.

I get tired of the endless bombshells and stupid shit that most on this board post about. Most don't read anything outside of what the MSM says and if you point to something contrary, it's conspiracy or right wing BS. You have to actually read both sides because the truth is almost always in the middle. Like this stupid tax crap. Most of this is a bunch of BS whining. Biden has done the same thing with tax avoidance. Reps and libs alike are all about tax avoidance. Why shouldn't we be? Libs are all calling tax evasion without much to go on. They've made Trump guilty of it because they hate him, not because their is proof of it. Much of the Times article would be things the IRS would already know about Trump. It's really not very difficult to understand the forms. Now the Times got a hold of other information OUTSIDE of his tax returns that could be troubling, but people take it for face value only and convict him. Impulsive reactions is what this society is and it's BS. Can't wait until facts come out. We are all instant gratification/results nowadays.
“They say I have the most loyal people — did you ever see that? Where I could stand in the middle of 5th Avenue and shoot somebody, and I wouldn’t lose any voters.” he said. “It’s like incredible.” - DJT
 
Rangappa linked this article:

5) The ongoing IRS audit dispute regarding a $72.5 million loss deduction looks very bad for Trump. The Times article suggests that the key issue, for most or all of this claimed loss, is a “worthless stock deduction” from abandoning his interest in the disastrous Atlantic City casino venture. Many years ago, when I was in tax practice, I actually worked on this precise legal issue (for a corporate client of my law firm), so I am quite familiar with it. When you own equity (such as Trump’s partnership interests in the Atlantic City activity) that has lost enormous value, typically the equity constitutes a “capital asset.” If you sell it for an enormous loss, that is only a capital loss, and deduction of the loss is limited to the sum of (a) net capital gains for the year, and (b) $3,000. Disallowed losses are carried forward, but at $3,000 per year they may be worth very little, unless your income in future years includes large capital gains. But if the investment is utterly worthless and you abandon it for zero consideration, it becomes an “ordinary” loss (i.e., one that is not subject to the limits on deducting capital losses).


Trump apparently did this with his Atlantic City partnership interests, and claimed an ordinary loss that seems to have made up much or all of the $72.5 million. But he received back a 5 percent interest in the stock of the new entity. As the Times article rightly notes, this could establish that the entire abandonment loss claim was legally invalid. He would merely have sold his once-valuable asset for a large capital loss, the use of which would be sharply restricted as described above. The Times notes that losing on this issue – as it appears he should, if the stated facts are accurate and relevantly complete – would cause him to owe the IRS about $100 million, given interest on the prior refund. This leaves aside the possibility of civil or criminal tax penalties for claiming an abandonment loss despite receiving consideration back.



So you're saying Trump is the one who filled out his own tax returns and not the accountants he hired to do this for him? Or are you saying Trump MADE the tax professionals change the returns for him in an effort to swindle the US government of taxes? I mean it's a real stretch to say Trump made his own tax people commit crimes on his behalf. My assumption would be that there is A LOT more information surrounding the loss than what the Times wrote and the experts Trump hired had good reasoning behind what they did. That's not how many on this board see things. It's simply to go to the worse case scenario because they hate Trump.
 
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