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re: So the Biden Campaign and the NYTs with the rest of the MSM are setting Trump up on taxes.

Posted on 9/29/20 at 3:33 pm to
Posted by Jorts R Us
Member since Aug 2013
14859 posts
Posted on 9/29/20 at 3:33 pm to
quote:

It my understanding is that in the tax year that the NYTs article was based on Trump actually paid millions in income taxes. However the NYTs reported he only paid $750. The point was Trump only owed $750 but paid millions which was credited the following years. NYTs propagated fake news by mixing up the words paid and owed.


There was nothing misleading about it. He made estimated payments in those years but the liabilities got wiped by business credits. He carried forward the overpayment to be applied against future years. At the end of the day, his tax liability in 2016 and 2017 was apparently virtually nil (not that there is anything wrong with that). This "misinformation" angle is manufactured non-sense.
This post was edited on 9/29/20 at 3:37 pm
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