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re: New Talking Point: DRUMPF only paid $750 in taxes in 2016 and 2017
Posted on 9/27/20 at 5:37 pm to UAinSOUTHAL
Posted on 9/27/20 at 5:37 pm to UAinSOUTHAL
quote:
Why is it so hard to understand he has had zero income the last 4 years. He donates it all. Taxes aren’t on your net worth it’s on your INCOME for that year.
that is not what the article is about. please read it
0
Posted on 9/27/20 at 5:38 pm to Malik Agar
quote:
Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750
Now do liberal mayors and governments. Start with Latoya.
Posted on 9/27/20 at 5:41 pm to SCLibertarian
quote:
How many people in the political establishment make millions from their position of power? TigerDoc and Demshoes have no problem voting for the Feinstein's and Biden's of the world, along with every other establishment hack who have been politicians their whole lives but are somehow worth tens of millions of dollars. People going into positions of power to create their wealth is far more dangerous than wealthy people using the established law to maintain their wealth.
I mean Feinsten married a rich dude and Biden cashed in on the lecture circuit as a civilian. I'm not sure how you'd ever stop politicians from making money either of the ways. Anyway it's not like the Republicans care too much about ensuring politicians aren't using their positions to make loot. Kushner, J. Voters clearly don't care about such things.
Posted on 9/27/20 at 5:42 pm to longwayfromLA
quote:
Feinsten married a rich dude
Who made millions off government contracts from a war Feinstein voted for.
Posted on 9/27/20 at 5:43 pm to TideCPA
quote:
1. Why? Because you’re able to utilize business losses to offset business income? Why should someone pay taxes if they haven’t generated net income?
A dude walking home with enough $$$ to but private planes should probably pay more in federal taxes than a garbage man. You're explaining why he was able to do it legally. I'm saying that it's not clear how the US benefits from billionaires doing this.
quote:
2. Biden participated in drafting most of those laws.
What does this have to do with anything?
Posted on 9/27/20 at 5:43 pm to UAinSOUTHAL
quote:
Why is it so hard to understand he has had zero income the last 4 years.
Oh, I would bet he had millions in income, but uses the legal tax code deductions in real estate to offset the income to practically nothing.
Posted on 9/27/20 at 5:45 pm to Demshoes
quote:
He fought so fricking hard to hide this and now that it’s out you can see he’s a massive walking fraud. Anyone who pays boatloads and shite tons of taxes (like me and my wife (no pics)) to the fricking IRS every year should be outraged. But y’all will stick up for Dear Leader and defend the indefensible. Carry on.
How about you direct your melt to the politicians that wrote the tax code that fricks you and benefits Trump and themselves? You think your heroic Dem senators pay as much tax as you either buddy?
Posted on 9/27/20 at 5:46 pm to SCLibertarian
quote:
Who made millions off government contracts from a war Feinstein voted for.
Probably. I'm saying I'm not sure how you stop that. I'm not arguing that Democrats have clean hands on drifting in office.
Posted on 9/27/20 at 5:49 pm to longwayfromLA
Go research the Fair Tax that is based on those principles. Hundreds of the countries leading economists believe it would catapult our economy.
You say billionaires tax would dramatically reduce. Actually the opposite would occur. The loopholes go away and now that G5 jet has a major tax added to it beyond the sales tax. So does all of their 2nd homes, jewelry, cars, boats, etc...
Now, it will never happen because the politicians like their loopholes. They write them for themselves.
You say billionaires tax would dramatically reduce. Actually the opposite would occur. The loopholes go away and now that G5 jet has a major tax added to it beyond the sales tax. So does all of their 2nd homes, jewelry, cars, boats, etc...
Now, it will never happen because the politicians like their loopholes. They write them for themselves.
Posted on 9/27/20 at 5:53 pm to Malik Agar
Why do libs think regular Americans gaf about this? Seriously. No one cares.
Posted on 9/27/20 at 5:53 pm to longwayfromLA
quote:
A dude walking home with enough $$$ to but private planes should probably pay more in federal taxes than a garbage man. You're explaining why he was able to do it legally. I'm saying that it's not clear how the US benefits from billionaires doing this.
These liberal politicians you left wingers worship like GODS are the ones who write these tax codes! Because they are all bought off by rich lobbyists to write tax codes for their cronies while the middle class gets stuck with the bill.
Posted on 9/27/20 at 5:54 pm to Demshoes
quote:
Anyone who pays boatloads and shite tons of taxes (like me and my wife (no pics)) to the fricking IRS every year should be outraged.
I would take the opportunity to learn from this and take a tax course to learn about some of the very simple loopholes, deductions and tax credits you can earn to pay very little tax. Tax avoidance is perfectly legal and really not that hard to do. Nobody should be paying “boatloads and shite tons of taxes” unless they are either lazy or stupid.
Posted on 9/27/20 at 5:54 pm to longwayfromLA
quote:
A dude walking home with enough $$$ to but private planes should probably pay more in federal taxes than a garbage man. You're explaining why he was able to do it legally. I'm saying that it's not clear how the US benefits from billionaires doing this.
Wealth =/= net income. If a billionaire’s personal income is less than zero due to business losses he can carry forward, he will owe little to no tax. This isn’t some big new thing.
This post was edited on 9/27/20 at 5:55 pm
Posted on 9/27/20 at 5:55 pm to Malik Agar
Abolish the income tax.
Posted on 9/27/20 at 5:56 pm to longwayfromLA
quote:
What does this have to do with anything?
everything dumbass
You don't believe that Biden profited from it? Why else would a "man of the little guy" do it?
Are you dense?
Posted on 9/27/20 at 5:59 pm to gthog61
Too much envy in this country
Posted on 9/27/20 at 6:00 pm to TideCPA
Everyone forgets that Trump likely had more taxable losses in 2007-08 than any of us will ever see in a lifetime. And he gets to carry those forward to offset future taxable income.
Posted on 9/27/20 at 6:02 pm to xxTIMMYxx
quote:
Too much envy in this country
This....and nobody gives a shite that the only way the NYT got these records is if someone failed to safeguard them...which they probably promised to do so.
Posted on 9/27/20 at 6:04 pm to deathvalleytiger10
quote:
Go research the Fair Tax that is based on those principles. Hundreds of the countries leading economists believe it would catapult our economy.
I'm pretty familiar with it, it's a repacked version of stuff Steve Forbes in particular has been pushing for about 30 years or so.
quote:
You say billionaires tax would dramatically reduce. Actually the opposite would occur. The loopholes go away and now that G5 jet has a major tax added to it beyond the sales tax. So does all of their 2nd homes, jewelry, cars, boats, etc...
Yeah the ball game on this is the people you see pushing it. It's the same cast of characters who've spent their careers supporting other efforts to make the tax code less progressive. You don't even have to do the math about consumption levels of rich people as compared to income versus poor or middle class to understand who'll get advantaged or disadvantaged by the system.
quote:
Now, it will never happen because the politicians like their loopholes. They write them for themselves.
Loopholes are endemic to tax policy in general not a consequence of our specific tax paradigm. Or do you really believe that if a fair tax passed tomorrow, that would be the end of lobbyist seeking carveouts?
Posted on 9/27/20 at 6:05 pm to Demshoes
quote:
He fought so fricking hard to hide this and now that it’s out you can see he’s a massive walking fraud. Anyone who pays boatloads and shite tons of taxes (like me and my wife (no pics)) to the fricking IRS every year should be outraged. But y’all will stick up for Dear Leader and defend the indefensible. Carry on.
Your anger is directed at the wrong person.
Who wrote the laws that he uses?
If a law was written tomorrow, that is applicable to your circumstances, and wiped out your tax burden, would you use it?
Absolutely you would without hesitation. Would that make you a fraud?
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