HerbertBirdsfoot
Member
What is this profit you speak of? We don't even know if he has a positive net worth. He wants you to assume he is a successful businessman. He may well be on the brink of bankruptcy. No evidence to the contrary.
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NYT gets Trump's 1995 tax documents, might have avoided taxes for two decades
- Thread starter WedgeX
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What is this profit you speak of? We don't even know if he has a positive net worth. He wants you to assume he is a successful businessman. He may well be on the brink of bankruptcy. No evidence to the contrary.
You'd have to assume Trump had no prior enemies for the idea of collusion to be a slamdunk.
Orbis Tabula
Member
Wait, wait, wait. This is about his personal income tax, though, right? Like, I understand that as a CEO you should be making decisions for the company that maximize shareholder value, but this isn't about decisions made for the company, right? This is about his own personal income tax. Am I wrong that there is a distinction there? Unless Donald Trump, the person, has shareholders I don't think this defense really works.
So many people love me, I've been tremendous for them and their lives. Let me tell ya it's a beautiful thing. Just...tremendous.
Here's something I was wondering too, and I hope someone more familiar with the US tax system could enlighten me: Does the fact that he took this as a personal loss mean that this actually adversely affected his company, as it couldn't claim a corporate loss?
wumster3000
Member
Freaking Gary Johnson. Man this election season is mind boggling. November 9th can come soon enough.
BreezyLimbo
Banned
And there are people who want to protest vote Gary Johnson.
Wowfunhappy
Member
Isn't the bigger story here that we have a tax code that freaking allows this to happen?
Edit: Well maybe not the bigger story since the main one is about a guy running for president, but it feels like it's being ignored.
Edit: Well maybe not the bigger story since the main one is about a guy running for president, but it feels like it's being ignored.
I'm trying to suggest that such a thing doesn't make sense. Tax avoidance is a valuable strategy to optimize returns but you get more benefit from just actually making larger profits. Donald may enjoy living "Big League" on fringe benefits but that does not represent success for his financial enterprise. Structuring the business to avoid profits does not enrich its equity investors!
Byakuya769
Member
He can write off $900 million for sucking at business but I can't write off these grad school loans.
ChronotriggerJM
Member
I love how the Trump army is up in arms over the legality of the leaked information while they demand to see leaked emails for Clinton lol. I'll give Trump supporter's one thing, they're Olympians of mental gymnastics.
Media shouldn't matter, if he's involved in criminal behaviour, there is nothing stopping federal bodies from taking action against his activities.
News networks like Fox, CNN, MSNBC... ect all pander to the ratings of their respective networks... unbiased, objectively journalism isn't what makes them money.
These are the same people who were salivating over DNC emails stolen by Russian state-sponsored hackers and publicly dumped without removing information like SSNs.
Online Trump supporters are a disingenuous pile of shitheads.
SoundofSilence
Member
Funny thing about Giuliani is that he is largely credited with dismantling most of the major mafia organizations in New York during the 90s but decades later has proven himself to be a bigger piece of shit than virtually any of the crime bosses he put away during his tenure as AG and mayor.
LudicrousSpeed
Member
So, I am not an expert, but here's an attempt.
Trump's business and personal taxes are separated if his business was set up as a corporation. This is because the entire concept of the corporation is to separate his business and personal finances. But if he's using certain forms of business, then the distinction is basically erased, where his business revenues are inherently part of his personal income tax.
Now, non-corporate forms are normally used for smaller businesses and not businesses of Trump's size. You wouldn't really talk about "shareholders" when you're using these. And also, how he deducts those losses have nothing to do with his partners, as the way partnerships are taxed is that loss/gains are passed through to each member's personal taxes in proportion to their ownership (so if someone owns 50% of a business that has a million dollar loss, their personal taxes show a 500k loss).
All of this is to say, basically, that my read on this "stockholders" excuse is probably bullshit.
You're assuming that was him who knew about the loopholes, and not his accountants.
A heavy assumption.
Angelus Errare
Banned
Preach this more fam! This was literally the first thing I thought of.
Crimson-Death
Member
He is a genius. The best genius. A genius strategy. Be a complete moron and dumbass in business, and then not pay income tax for the next two decades.
Genius!
And all the people he screwed in his bankruptcies are fools. The best fools. They pay taxes.
All that spin truly made me nauseous for a bit. Trump and his people are fucking disgusting
Legitimately wonder what Gary Johnson does all day? He has no idea about ANY of the issues. I mean I understand you can't know everything, but he doesn't even have the broadbrush-strokes idea of what the fuck is ever going on.
DragonSworne
Banned
Bam Bam Baklava
Member
Slurpy2k20
Member
And people want this fuck as President so he can, in their words, "run the country like he runs his business". Unreal.
Create a company, get investors on board, write yourself a check, pay off your student loans, and declare bankruptcy.
Bruce Springsteen
Member
Here is my issue this with, he legally did this. Anyone who tells me that if they found a legal way to not pay taxes for 20 years they wouldn't take is a liar. I was watching CNN today and the host kept saying along the lines "shouldn't it be his patriotic duty to pay some taxes blah blah blah". LMAO, such bullshit. Of ALL the issues to attack him on, there are too many to list, this is not it
Crimson_Gold
Member
Then you're missing the point.
1. The amount he claims as a loss shows incompetence as a business man.
2. Paying less in taxes than a janitor is just bad for optics. He clearly isn't paying his fair share
cooljeanius
Member
The thing is that it's a lot easier for rich people to find legal ways to do this than it is for poorer people. The fact that Trump had these opportunities available highlights the unfairness and inequality of our system.
Bam Bam Baklava
Member
This is not the first thread I've seen you do this in. What's your deal?
DontBeThatGuy
Member
He's railed against others for not paying enough(let alone none), or for not releasing their taxes, etc... and damn near no one is losing 1.5 billion(might not be the first time) and then going around calling themselves incredible businessmen that can "fix" America. It's also one hell of a way to continue to show people how unfair this damn system is, and the types that take advantage of it over and over.
He should continue to be called out for being a the fraud he is.
Bruce Springsteen
Member
Attacking his business sense is one thing, I agree with, but if he legally did then I don't see an issue, the tax code is the issue in this situation
I agree
huh?
D
Deleted member 20415
Unconfirmed Member
Sure. But you also can't avoid paying taxes, a significant amount of taxes, and then turn around and complain that our infrastructure is falling apart and we're falling behind. Well, I mean, you can do that, but you're a giant fucking hypocrite.
Bruce Springsteen
Member
Right, I'm not debating him being a hypocrite, but the issue here is the tax code which he and anyone in his position would take advantage of
The fallacy I can't get over is how anybody jumps from "I'm a genius at gaming the system, not paying any taxes and doing whatever it takes that is in MY best interest screwing over as many millions as necessary to do it." to this person will definitely not take advantage of the system and his power of presidency and will look after me and American interests. I just don't get how anyone can come to that conclusion. Why on earth would a business man like that be interested in "fixing" the system that benefits him? Why? Why?
Bam Bam Baklava
Member
Pretty sure he pays for that in state taxes, property taxes, excise taxes, payroll taxes etc etc.
The tax thing is really a non-story but a brilliant political talking point for the Clinton camp.
These are state taxes. Three states, to be exact.
sturgboski
Member
Hmm, tag checks out. Dude has complained throughout campaign about infrastructure, talked about it at debate as well. Can't shit on it and it's posts for the taxes he has avoided paying. Well technically you can, but that messages you an asshole.
Bruce Springsteen
Member
are you going to expound on this or is this a drive-by attack post?
These are state taxes, and I'm quite amused Payroll tax is included in there. Payroll tax burden is all on the employees.
These are about hypocrisy, however. You don't get to attack people in taxes when you don't pay tax, you don't get to brag about your business acumen when you lose 900 million
Yikes, this news has been everywhere today, and all the headlines just say "Trump avoided paying taxes." The "Trump is a genius" angle by his advocates is super shallow and so laughable. "He's the only one who knows the 'rigged system' and who can fix the loopholes!" Right, like that's in his best interest after he would be out of office in 4 or 8 years....? Give me a break. What a bunch of assholes these advocates are for trying to hoodwink the voting populace on a daily basis. Chis Christie, Guiliani, and Conway especially. They all deserve some major karma consequences.
I hope we can round up Trump's entire troop and ship them off the planet once this election is over. They've poisoned too many ears with their dangerous, self-serving nonsense.
I hope we can round up Trump's entire troop and ship them off the planet once this election is over. They've poisoned too many ears with their dangerous, self-serving nonsense.
FunkyMunkey
Banned
DragonSworne
Banned
Snipes get s ail time but Trump gets to run for President.
Come on son.
Well interstate roads would be taken care of by the federal government, he bemoans the "gutting" of the military and that's federal and even some of the local infrastructure projects are done through federal assistance in many places so I wouldn't say it's clear cut.
Of course, since he's running as a Republican perhaps he believes a town or city that can't afford to maintain it's roads or bridges and would need federal assistance shouldn't have roads and bridges or some shit. But I don't know of many Republicans that don't think the federal government should fund the military so he's fucked on that.
I love that people bring up that it was legal, or that he payed other types of taxes makes this ok. It doesn't. The fact is when people who make magnitudes less money than Trump pay their fair share, and Trump comes along, and acts too good for income tax, saying it makes him "smart" to avoid it, that's fucked up. It doesn't matter how you spin that.
By law FICA tax is split 50/50 between employees and their employers.
If you ever become self-employed, you will see your payroll taxes double.
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