Trump paid no taxes in 10 of the last 15 years.

[Xavier]

Original story:
https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html

Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance

The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.

https://in.reuters.com/article/us-u...of-last-15-years-new-york-times-idUSKBN26I10L

WASHINGTON (Reuters) - President Donald Trump paid just $750 in federal income taxes in both 2016 and 2017, the New York Times reported Sunday, citing tax-return data.

Trump also paid no income taxes in 10 of the last 15 years, the Times reported.

Reporting by Pete Schroeder; Editing by Daniel Wallis

 

[Xavier]

Haven't seen them as much lately but ever meet those people that like to tell everybody when they first meet them they're tax paying citizens? I'd like to kick them in the crotch.

Anyways this man is an animal backed into a corner.

He has hundreds of pending civil cases and dozens more for sexual assault.

Sounds like there's 20+ pending cases of fraud pending from the Southern District of New York.

Who knows how many federal charges are currently pending against him.

It's being said if he resigns before inauguration day and Pence pardons him that it only covers the federal charges.

Reality seems we don't really know because we haven't had to deal with it before.

On top of all that he still has all those audits going on. He hasn't be able to fire and rehire enough people to make it all go away.

 

[wyo]

Very interesting development... A pre-October surprise, if you will.

There's a lot to unpack but it seems to basically confirm what we've always thought: Trump is a terrible businessman, a criminal or, most likely, both.

 

[LoneSage]

WTF is it with the mega rich not paying taxes.

 

[lithy]

WTF is it with the mega rich not paying taxes.

The income tax code is built to allow it to happen because it is written and sponsored by people that inhabit the top tax brackets. Yet regular Americans think they'll use a convoluted income tax code to make rich people pay 'their fair share'. Instead, they just ensure that they'll have to pay H&R Block $100 to file their taxes because it is all too fucking confusing.

 

[lithy]

And not to be too facetious, but I really thought we knew all of this already. He lost a bunch of money, he isn't as rich as he says, so of course he'll pay little in personal federal income taxes. Am I wrong about that?

Edit: Nevermind, that news was about significantly older tax years than it was in my memory.

http://www.neo-geo.com/forums/showthread.php?277682-Tax-Figures-1985-1994

 

[SouthtownKid]

I wonder if this will make his base turn on him, or make him even more of a hero to them for escaping taxes. Or if they'll even ever be aware of this, since many of them don't read.

 

[100proof]

I wonder if this will make his base turn on him, or make him even more of a hero to them for escaping taxes. Or if they'll even ever be aware of this, since many of them don't read.

They won't give a fuck. The reality distortion bubble has them convinced that anything said about dear leader is either a lie or somehow good because it makes libtards butthurt.

The only thing that matters at this point is pissing off enough of the non-voting public to get out and outnumber his base. Particularly in the states that he barely won last time.

 

[TonK]

I wonder if this will make his base turn on him, or make him even more of a hero to them for escaping taxes. Or if they'll even ever be aware of this, since many of them don't read.

Tested on Facebook.

Correct answer is "hero".

 

[Xavier]

Tested on Facebook.

Correct answer is "hero".

I'm oldschool, to me smart and successful business people are ones who make an actual real profit.

 

[theMot]

Has he actually done anything wrong though? This to me just sounds like a story to appeal to the common man working 9-5.

You’ll find most wealthy people pay comparatively little personal tax because everything they own and control are tied up in companies and trusts. The system was built with legal loopholes by the wealthy so they could take advantage of it.

You don’t make money in life working 9-5 paying marginal tax rates.

 

[Xavier]

Has he actually done anything wrong though? This to me just sounds like a story to appeal to the common man working 9-5.

You’ll find most wealthy people pay comparatively little personal tax because everything they own and control are tied up in companies and trusts. The system was built with legal loopholes by the wealthy so they could take advantage of it.

You don’t make money in life working 9-5 paying marginal tax rates.

He claimed a 70m tax write off for 18 years. He maintained an ownership of 5% in it after he went bankrupt and IRS says the tax law states you are allowed zero stake in it.

He bribe auditors to devalue his property so he pays less taxes.

He paid Ivanka $750k as a consultation fee.

My biggest take is what a horrible businessman he is. He made money on Aprentice and the use of his name and letting others manage his properties. Trump tower and Maro-lago usually make a profit everything else he's ever touched has turned to shit.

He has 400m in loans due soon the banks in other countires.

He refused to pay back 278m in loans and then tried to write them off on his taxes.

 

[Magnaflux]

Wealthy people look terrible on paper for tax purposes.

 

[norton9478]

Has he actually done anything wrong though? This to me just sounds like a story to appeal to the common man working 9-5.

You’ll find most wealthy people pay comparatively little personal tax because everything they own and control are tied up in companies and trusts. The system was built with legal loopholes by the wealthy so they could take advantage of it.

You don’t make money in life working 9-5 paying marginal tax rates.

There is also the fact that he is crazy in debt and personally on the hook for several hundred million dollars in loans that will be due in the next few years.

 

[evil wasabi]

It's easy to show business expenses to offset tax liability, but hard to defend when people ask you to prove them or to even defend the market value of the expense listed,

for example, a $70k haircut listed as a business expense.

 

[Xavier]

There is also the fact that he is crazy in debt and personally on the hook for several hundred million dollars in loans that will be due in the next few years.

To foreigners, chances are.
close to 400 million

that's just what might have recently been found

Plus with just one of the audit issues he's under investigation for will come to around 100 million that he'll owe the IRS.

 

[ChopstickSamurai]

I wonder if this will make his base turn on him, or make him even more of a hero to them for escaping taxes. Or if they'll even ever be aware of this, since many of them don't read.

They will all write this off as fake news, and he’ll easily be re-elected. He can really do no wrong in their eyes.

 

[Ajax]

I remember when the Access Hollywood tape came out, and I thought, "Oh man... nobody gonna stand behind this guy now." And just like that, people wrote it off like it just didn't mean anything to anybody.

This is basically this election cycle's version of that - it's a bombshell that confirms what we all suspected. I fully expect that this will translate into a net loss of approximately zero votes for this jackass. The law and order crowd will somehow find a way to easily and conveniently overlook this, or pretend that this somehow doesn't really fall under the umbrella of law and order.

 

[Tripredacus]

There is also the fact that he is crazy in debt and personally on the hook for several hundred million dollars in loans that will be due in the next few years.

He was probably hoping on getting those high paid speaking and book tours after getting out of office.

 

[TonK]

They will all write this off as fake news, and he’ll easily be re-elected. He can really do no wrong in their eyes.

It's pathetic. I had people telling me the tax docs were fake.

When he held his presser yesterday, it made me sick to watch the fall of our democracy.

 

[GohanX]

I've been hearing from Trump fans today had tax is theft, you can't get mad at someone who is cheating the theft, and they wish they could do it too.

 

[Xavier]

He was probably hoping on getting those high paid speaking and book tours after getting out of office.

If so it was just another poor judgement on his part.

No chance presidential candidate or president Trump could command any kind of speaking fee. Who is going to spend $250k to fill and auditorium with trailer park people?

I still think he wanted TNN the Trump News Network though.

 

[evil wasabi]

Who is going to spend $250k to fill and auditorium with trailer park people?

NASCAR.

WWE.

Olsteen.

 

[Xavier]

NASCAR.

WWE.

Olsteen.

No that works the other way around

MONSTER TRUCK!!!
NOW WITH INTERMISSION GUEST SPEAKER:
DONALD J TRUMP!!!

That could totally work.

 

[wyo]

Wealthy people look terrible when they pay no taxes.

FTFY. The tax system is already rigged in their favor so paying a pittance is a bad look.

The middle class now pays higher effective rates than the wealthy.

The IRS basically runs on the honor system unless/until you get audited.