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Athos · Sep 27, 2020, 06:22 PM

Trump paid $750 federal income tax the year he ran for president. The year before, he also paid $750. Trump is already calling this fake news. All the details are in the Times article.

Trump the financial fraud for all the world to see.

https://www.huffpost.com/entry/trump...b61af20e7762e7

pic.twitter.com/be15BS005Z

Banner headline from New York Times. If you can't open it without a payment, the story is all over every media in the world.

https://www.nytimes.com/

paraclete · Sep 27, 2020, 07:02 PM

All that proves is that Trump is a full time loser, he runs his businesses at a loss and pockets the money of those who finance him. You can expect some fancy accounting behind his tax returns

Athos · Sep 27, 2020, 07:41 PM

Originally Posted by paraclete

All that proves is that Trump is a full time loser, he runs his businesses at a loss and pockets the money of those who finance him. You can expect some fancy accounting behind his tax returns

Good summary - works for me.

jlisenbe · Sep 28, 2020, 04:05 AM

All of this proved nothing. The story will likely turn out to be yet another in a string of fake news articles such as the recent one in the Atlantic. It's all designed to prop up the hapless campaign of the Harris/Biden ticket.

And right on cue, this is the "fair and balanced" CNN headline for the "story". "Tax bombshell reveals Trump's image is a sham." Nothing like seeing an article written by an unbiased source.

he runs his businesses at a loss

What a crazy statement. Yeah. It's the key to financial success. "How to become rich by running your businesses at a loss!"

tomder55 · Sep 28, 2020, 05:54 AM

What crime do they say he committed? How is it that the Slimes figured this out but the Feds who have audited his businesses for years could not ? I am not a tax expert ,but I have heard that losses can be written off for many years . The Real Estate market did take a hit early in last decade .

Anyway Trump did not make tax law. But Quid did for 40 years . I do not fault anyone who legally uses the tax laws to pay less taxes . I take every credit ,and deduction I can. No one complains that Warren Buffett takes the minimum salary permitted .(then the hypocrite complains that he pays less taxes than his secretary ) . None of the Quid supporters are complaining that his income gets filtered through S Corps he created for the purpose of paying less taxes.

Don't you think that this is a fine example of why there should be a flat tax ?

jlisenbe · Sep 28, 2020, 07:05 AM

Don't you think that this is a fine example of why there should be a flat tax ?

Absolutely it is. Better yet, have a flat tax that is keyed to spending. If we spend more, we automatically tax more. Guess what would happen to spending if we did that?

paraclete · Sep 28, 2020, 07:06 AM

Originally Posted by tomder55

Don't you think that this is a fine example of why there should be a flat tax ?

I expect you are saying there should be a flat tax on gross revenue, no deductions, so what should it be 5%, 10% some industries have very thin margins and rely on volume, some industries have big margins, Should individuals be subject to the same rate meaning the poor pay proportionally more. The reason it hasn't been done Tom is it is impracticable and favours the rich

tomder55 · Sep 28, 2020, 07:32 AM

so what should it be 5%, 10% some industries have very thin margins and rely on volume, some industries have big margins, Should individuals be subject to the same rate meaning the poor pay proportionally more. The reason it hasn't been done Tom is it is impracticable and favours the rich

That is for the elected officials to determine . Do I think individual and business taxes should be the same ? NO .Business income taxes should be much less or not taxed at all .
When government taxes businesses they pretend that the business pays the taxes .Business taxes are passed on to the customer ,or the shareholders ,or the employees of a company . It depresses wages ;impedes innovation ,and has companies looking to relocate (ex American companies operating in Ireland ) .jlisenbe is also right that a consumption tax is far better than an income tax

Athos · Sep 28, 2020, 09:04 AM

Originally Posted by tomder55

What crime do they say he committed?

Missed the point. It's about Trump's claims since day one about what a financial genius he is. Proof positive he's a financial dolt. Every business he touched, except for his TV show, failed, leaving others to pay the bill. His losses have been gigantic - over $1BILLION.

Anyway Trump did not make tax law.

Huh? He passed the infamous tax "cut" that failed to do what he claimed it would do. He lied through his teeth with that one.

Don't you think that this is a fine example of why there should be a flat tax ?

Shades of Steve Forbes who stood to gain hundreds of millions with his flat tax. Even the Wall Street Journal agreed the flat tax was a huge giveaway for the rich. True, Tom, you're not a tax expert.

tomder55 · Sep 28, 2020, 09:28 AM

Missed the point. It's about Trump's claims since day one about what a financial genius he is.

and ? Evita brought up the same issue in 2016 debates . He did not deny the fact that his tax accountants use the tools they have . When she said he paid little or no taxes he replied "that makes me smart " .

Anyway Trump did not make tax law.

Huh? He passed the infamous tax "cut" that failed to do what he claimed it would do. He lied through his teeth with that one.

The effect of the corporate tax cuts is not relevant to the issue of his income taxes .He has admitted repeatedly he uses the tax code to his advantage. Need I remind you that most of the years in question were during the emperor's tax laws .It was the emperor's IRS that cut Trump a huge check.

Don't you think that this is a fine example of why there should be a flat tax ?

Shades of Steve Forbes who stood to gain hundreds of millions with his flat tax. Even the Wall Street Journal agreed the flat tax was a huge giveaway for the rich. True, Tom, you're not a tax expert.

I have seen plenty of Op-Ed pieces at WSJ that argue both sides of that issue . I admit I am not a tax expert . I give my docs to a tax accountant to make sure my returns are legal ,and that I get every deduction ,credit I am entitled to get. Are YOU a tax expert ?

Wondergirl · Sep 28, 2020, 10:01 AM

from a Facebook thread: "The bigger problem and most immediate problem is not his taxes it's the half a billion dollars in unsecured debt that makes him ripe to be compromised and make decisions based on self interest rather than the American people. This conman is a national security threat and should resign from office effective immediately."

talaniman · Sep 28, 2020, 10:14 AM

What did we expect from a guy who used and abused charities, banks and vendors before he got in office? The conservatives/rightwingers/repubs got their judges and tax cuts, and the dufus got paid. The revelation of the dufus finances are no surprise, nor that they be scrutinized for fraud should be no surprise.

Athos · Sep 28, 2020, 10:20 AM

Originally Posted by tomder55

Are YOU a tax expert ?

I did several hundred individual tax returns in the early '90s and I had an excellent grasp of the tax code then, but I don't consider myself an "expert". I never practiced in tax court. The experts are tax lawyers, enrolled agents, and CPAs who do taxes as their main business.

jlisenbe · Sep 28, 2020, 11:01 AM

from a Facebook thread: "The bigger problem and most immediate problem is not his taxes it's the half a billion dollars in unsecured debt that makes him ripe to be compromised and make decisions based on self interest rather than the American people. This conman is a national security threat and should resign from office effective immediately."

It's a Facebook thread, so it just has to be true? Is that how it goes now?

Are YOU (Athos) a tax expert ?

Let's go way out on a limb here.

Wondergirl · Sep 28, 2020, 11:19 AM

Originally Posted by jlisenbe

It's a Facebook thread, so it just has to be true? Is that how it goes now?

Oops, I forgot. Only what YOU say is truthful and reliable....

jlisenbe · Sep 28, 2020, 11:23 AM

Oops, I forgot. Only what YOU say is truthful and reliable....

Be careful! Tal will get on to you for being mean-spirited if you keep that up. In the meantime, we will look with justifiable skepticism at so-called "facts" coming from Facebook.

talaniman · Sep 28, 2020, 11:42 AM

Originally Posted by jlisenbe

Be careful! Tal will get on to you for being mean-spirited if you keep that up. In the meantime, we will look with justifiable skepticism at so-called "facts" coming from Facebook.

Fire the bum! Facebook is late on this one.

Wondergirl · Sep 28, 2020, 11:49 AM

Originally Posted by jlisenbe

Be careful! Tal will get on to you for being mean-spirited if you keep that up.

I learned how at the feet of a master.

jlisenbe · Sep 28, 2020, 11:54 AM

First it was the Atlantic, and now it's Facebook.

I learned how at the feet of a master.

The never ending, wearisome, incessant plea of left wingers. "I bear no responsibility since my problems are someone else's fault! Don't blame me."

Wondergirl · Sep 28, 2020, 11:59 AM

Originally Posted by jlisenbe

First it was the Atlantic, and now it's Facebook.

At least we haven't descended into constant tweeting like the dufus does.

Originally Posted by jlisenbe

The never ending, wearisome, incessant plea of left wingers. "I bear no responsibility since my problems are someone else's fault! Don't blame me."

Oooooh, blame-shifting. My new thread on the Religious Discussions board! Stay tuned! (You must be psychotic and read my mind!)