NYT: Trump organization paid little to no federal taxes for years claiming massive losses.

Golly looks like we have to change some laws when it comes to taxing the rich.

Guess which side is against and for that.

BTW,

Majority of Americans favor wealth tax on very rich: Reuters/Ipsos poll

64% strongly or somewhat agreed that “the very rich should contribute an extra share of their total wealth each year to support public programs” - the essence of a wealth tax. Results were similar across gender, race and household income. While support among Democrats was stronger, at 77%, a majority of Republicans, 53%, also agreed with the idea.

Yes, it's the same mannerisms and mantras. The argument isn't of legality, but merely the very relative and subjective interpretation of "fairness" - in a world where "fair" is often stretched and then beaten to a fine dust. Granted, I never deal with legality issues when it comes to these things. Feds retain the power there as they should, or the franchise tax board via the state.

In my eyes, regulation, auditing, and consistency are important pillars for an effective tax code - a flat tax with no, or very limited, deductions would eliminate the very bloated system. Streamlining is required, but in a time where politicians can't even pass budgets without abusing continuing spending resolutions, how do you surmise an overhaul of a tax code is even feasible? Plus if things were so simple, looking at major "tax advisors" lobbying heavily against it.

Trump paid $5.2 million total in 2016 and 2017. The $750 was in addition to those amounts. I’m pretty sure none of us paid that much. It seems a lot of people don’t understand how taxes work. If I pay $15k over the course of the year and when I file my taxes, my total tax liability is $15,050, I’ll write a check for $50. That doesn’t mean I only paid $50. Stop slinging this $750 crap 😆

It appears everyone in this thread owned themselves proving Trump was 100% right using the term "fake news". Seems they owe your President Of The United States Of America an apology, as well as his followers as they were triumphantly insulting them as well, reveling in hate.

How embarrassing.

@jeezers: I'm still waiting for the information that claim is based on.

Yeah I get that, but they're also not the president. Lead by example and such.

I just find it funny when there is so much need in the country (not just welfare, but infrastructure, etc) and the guy in charge is nickel and diming all the shit we need while helping out his family and friends.

@mrbojangles25: the Canadian Prime Minister did much worse.

Used a fake charity to pay his family with taxpayers money. He should be in jail.

Is this actually true? If so ROFLMAO! That would be hilarious, but not unlike people today cherry picking data. It is true most people can't even do their own taxes in this country which is just sad as hell.

@zaryia said:

I don't like Trump but this meme is one of the dumbest things I have ever seen you post. The difference Trump isn't here illegally and used the system that republicans and democrats have BOTH created.

It still shows hypocrisy, I mostly used it cause it was funny. But the prior analogy was better, with people who love it when old republican white men cheat the government with tax loopholes but cry about poor black people getting free healthcare being hypocrites.

@uninspiredcup said:

@jeezers said:

Trump paid $5.2 million total in 2016 and 2017. The $750 was in addition to those amounts. I’m pretty sure none of us paid that much. It seems a lot of people don’t understand how taxes work. If I pay $15k over the course of the year and when I file my taxes, my total tax liability is $15,050, I’ll write a check for $50. That doesn’t mean I only paid $50. Stop slinging this $750 crap 😆

It appears everyone in this thread owned themselves proving Trump was 100% right using the term "fake news". Seems they owe your President Of The United States Of America an apology, as well as his followers as they were triumphantly insulting them as well, reveling in hate.

How embarrassing.

Its fun watching the rabble rabble,

the guy makes his money off owning many businesses and a lot of real estate, which has always been known as some of the best assets for government tax write offs, its a good investment, because the government's tax codes make it worth your while, because new businesses are good for the economy, it provides jobs and real estate is good for housing so people have places to stay and also for other people to rent out space for their businesses.

The government wants these things, that's why they give these tax incentives. If these incentives didn't exist I don't know why anyone would even want to own something like a hotel or an apartment complex.

I guess Trump is a big dummy for hiring accounting firms to make sure he gets all his write offs....A good businessman wouldn't do that, A good businessman would just overpay taxes to the government! yeah pay more than what your required to pay! that's good business sense!

No ones going to apologize for anything, TDS is strong

Stupid NYT doesn't bring up state tax, employee tax, property tax, just federal income tax. Most of trumps money isn't even sitting in a bank, its in assets. People have a hard time understanding this.

Its like they see someone's net worth and just imagine a big vault full of money. Its honestly a really stupid hit piece and I don't see it swaying anyone one way or the other, most have already made up their minds. If this is what they want to fall back on let em. This is what trump said in 2016 about his taxes. Best president of all time.

How can you say this after 2020. 200k+ deaths and destroyed economy due to Trump, yikes

BTW still no citation for your claims. The NYT article doesn't say any of that. The 3 of you ITT keep spamming this but it doesn't say that in the article. Got a real source?

you will never pay as much taxes as Trump zaryia,

never

https://www.npr.org/sections/thetwo-way/2017/03/14/520205373/trump-paid-about-38-million-in-federal-taxes-in-2005-leaked-returns-say

I'm convinced that the majority of people here don't actually pay taxes.

That doesn't refute this article.....did you even read it?

I also have not seen citation refuting the $750 federal income tax payments for those 2 years. Or the rest of it showing rather damning stuff.

• President Donald Trump spent more than $70,000 to style his hair — and wrote it off as a business expense — when he was on "The Apprentice," The New York Times reported Sunday.
• The Times obtained decades of Trump's tax returns, compiling a much-anticipated report on Sunday that found the president had avoided paying federal income tax for much of the past two decades.
• The bombshell report included the detail that Trump wrote off haircuts and styling as business expenses and also that nine Trump entities paid nearly $100,000 to Trump's daughter Ivanka's hair and makeup artist.
• The Times found that Trump avoided paying federal income taxes for 10 of the past 15 years and paid just $750 in taxes in both 2016 and 2017.
• The tax-return data also showed that Trump's businesses reported major losses and that he avoided paying income taxes "largely because he reported losing much more money than he made," the report said.
• At a press conference on Sunday, Trump denied the Times report. "It's totally fake news. Made up, fake," he told reporters at the White House.

This Biden ad was quick tho,

https://www.youtube.com/watch?v=CPKsqeU0bl4

You seem easily conned. Stay away from Nigerian Prince e-mails.

@zaryia: lmao yeah that's the entire ad, $750 and a shot of trump walking off a plane, who ever eats this stuff up is a moron, none of those people will get even close to what trump has paid in taxes lol this dude doing commentary saying that's the best thing since sliced bread, naw bud that's weak sauce.

Trump paid more in taxes in just one year than all those people's combined lives in that ad

Yikes. So much for being the party of the working man. This is bad even for your standards.

Then again all you seem to care about is showmanship and memes over actual policies. Trump loves suckers like that, especially after his Covid blunder and destroying the economy.

P.S. You still didn't refute the article and it's still incredibly damning.

@zaryia: what did I say against the working man? That trump paid more in taxes? than all the people showed in that ad, all of thier taxes combined for thier entire life, is less than what trump pays in taxes in 1 year. Thats not a jab at normal working people like myself, its just a fact.

That melodramatic piano and showing peoples faces with it might work on people like you, but it does nada for me lol

Bottom line, trump pays more taxes than anyone on this forum in a year than they do over thier entire lifespan, including myself. That ad is stupid!!!

I think it will be quite effective for american workers.

They also leave out the millions he paid years prior that rolled over to the year he paid $750. He paid more, he simply paid the rest of it the prior year. But yeah, leave that fact out and run with the headline he only paid $750 one year, and the NPCs won't give it another thought or look at it any deeper than that.

Please provide evidence for this claim, because it sounds like you are making it up.

Failed Covid response? While the Democrats were busy impeaching him he was taking action, he stopped traveling from China to the US. What was the Democrat response, he racist and xenophobic, He established a task force to combat the virus, He went to the CDC and ask what the needed to fight this virus they responded two million dollars they were given eight million dollars. At the time the US had 37 cases of the virus and no deaths. He sent hospital ships to NY and LA, he built temporary hospitals, enacted a war procedure to have companies build ventilators and and masks. He had drug companies stop what they were working on and work on a Covid vaccine and treatment. Had the FDA speed up the approval process. Tried restrict travel from NJ, NY, and parts of Connecticut. The Dems and the Governors of those states raised a fit, but when the Governors of two of those states placed a quarantine and a ten thousand fine on people not following the restrictions. the state with the greatest number of deaths was NY ( whose Gov and Mayor of NY said NY could handle anything) because instead of using the temporary hospitals and the hospital ship sent the Covid patients to nursing homes where about 40,000 people died. Nancy Pelosi goes to Chinatown and tell people to come down and shop. The medical experts told Americans when ask about wearing masks not to as they did no good. When NY and California ask for help they received it right away. When Trump early on tried to do things on a national level the states hit him with the tenth amendment so he backed off. Lets not forget the rioters on the left that got a pass from the Democrats and exempt from gathering in mobs while people were not allowed to go to church.

He did not stop travel from China. He did not do most of what you posted.

Yes, facts > feelings.

That doesn't refute this report or his ad. It still shows he's a fumbling cheat. Also I can't believe how poorly Trump mis-managed his father's $400+million inheritance. Anyone in that ad or even this thread would have done a better job with that cash. Shoulda' known he would mis-handle the US economy and Corona. Not sure why so many buy into this grifter.

Anyway,

Trump Holds $421 Million In Debt, Could Owe IRS $100 Million In Penalties, Times Says

https://www.huffpost.com/entry/trump-debt-irs-421-million_n_5f7117c8c5b61af20e776eb5

Forget "The Apprentice" — Trump's taxes show he was really "The Biggest Loser"

Between Poppa Trump and Mark Burnett, Trump was gifted $840 million — but he may still owe as much as $1 billion

https://www.salon.com/2020/09/28/forget-the-apprentice--trumps-taxes-show-he-was-really-the-biggest-loser/

Isn't like it just one page of his tax files that he needs to reveal to confirm or debunk this?

I'm not sure about that, but it's certainly within his power to confirm or debunk.

Interesting article.

I think this bit is a good caveat.

"It’s true that the president’s tax returns might not look like John and Jane Public’s married filing jointly April 15 Turbo Tax submission. But John and Jane have a stable and simple life of W-2 wages, 401(k) plans, a couple of kids, and a mortgage. They like things to be as far from complex as possible. They don’t have business expenses — everything is spent on their personal lives, and personal expenses are by norm not deductible under the tax code. This simplicity is made possible by business owners like Trump who deploy capital, take risks, endure losses, and manage complex enterprises. If John and Jane want in on this high-risk, high-reward lifestyle, they can and should start small businesses of their own."

If any of this is true:

Because most media will breeze over it, it’s important to pause and note the criminal illegality of this story. It is a federal crime for any federal, state, or local government employee to release a tax return without the consent of the taxpayer. Ditto for tax lawyers, CPAs, enrolled agents, and other tax professionals. Interestingly, it’s also illegal to print or publish tax returns or information from them. Section 7213 of the Internal Revenue Code prescribes that each violation here is a felony punishable by $5,000 and/or five years in federal prison, plus the cost of prosecution. Federal employees so convicted are to lose their jobs.

Sorry a lot of people should be held accountable. It is not okay for this stuff to happen and it is not okay that people are okay with it. This is not a game we want to start playing from either side. If the media is going to start supporting this kind of rhetoric we are in a world of trouble.

Sorry this is going to turn out not to be a good look for what the democrats or liberal media is doing. If this stuff is going to start being allowed it is going to get extremely messy on both sides.

He doesn't need to debunk anything, there's zero wrong doing, just a bunch of virtue signalling from people pretending something egregious has occurred.

Tax code is disgusting and people have a right to be disgusted with it. Though it IS illegal to pay consulting fees while one is part of an organization and deduct said fees.

yeah its literally in the NYT story posted by OP lol, the NYT hides it in a short paragraph further down in the the story. This is what they say,

Each time, he requested an extension to file his 1040; and each time, he made the required payment to the I.R.S. for income taxes he might owe — $1 million for 2016 and $4.2 million for 2017. But virtually all of that liability was washed away when he eventually filed, and most of the payments were rolled forward to cover potential taxes in future years.

Basically he overpaid what he owed , but told them to just hold on to it to cover future taxes.

That means the same as this?

Trump paid $5.2 million total in 2016 and 2017. The $750 was in addition to those amounts. I’m pretty sure none of us paid that much.

Indeed. All carefully timed propaganda by a cabal of left-wing media proving your President Of The United States Of America' original argument of fraudulent, bias reporting.

At this point they would cut off their fingers to stop him getting reelected appointing themselves the general public protector rather than informant.

They know when it comes to this stuff the public will have a more simplistic view finances, and voraciously try to milk it for every drop they can.

We can only hope with all these terrorist Antifa people destroying American streets it will simply propel people to walk over the shards of glass to keep him in power in order to kick their communist butts and protect your local police force who have been unjustly demonized for the act of a small minority.

Meanwhile, that same media tried to downplay the severity of the Clinton email leaks which were never even so much as denied. Even the parts that showed collusion between the DNC and the media during the 2016 campaign. Double standards and bias within the corporations that control over 90% of the information.

What about the trump email leaks? Or do you pick and choose?

So at least we can all agree that trump is a terrible business man that loses millions year on year.

So much for the successful billionaire image he tries to portray.

trump is broke.

Tell me, how many business men do you know that have not lost money after the 2008 financial crisis? Especially those in the real estate business? And he still pays more taxes in a year than all the money you'll ever earn in your lifetime.

@uninspiredcup said:

@jeezers said:

Trump paid $5.2 million total in 2016 and 2017. The $750 was in addition to those amounts. I’m pretty sure none of us paid that much. It seems a lot of people don’t understand how taxes work. If I pay $15k over the course of the year and when I file my taxes, my total tax liability is $15,050, I’ll write a check for $50. That doesn’t mean I only paid $50. Stop slinging this $750 crap 😆

It appears everyone in this thread owned themselves proving Trump was 100% right using the term "fake news". Seems they owe your President Of The United States Of America an apology, as well as his followers as they were triumphantly insulting them as well, reveling in hate.

How embarrassing.

I have to laugh whenever I see pictures like this.

The shit eating grin of a con man if I've ever seen it who is getting away with murder and loving it. You can just see in his expression the contempt he holds for everything and everyone. Who do you think you're defending and admiring?

The one laughing at you.

Forget "The Apprentice" — Trump's taxes show he was really "The Biggest Loser"

Between Poppa Trump and Mark Burnett, Trump was gifted $840 million — but he may still owe as much as $1 billion

https://www.salon.com/2020/09/28/forget-the-apprentice--trumps-taxes-show-he-was-really-the-biggest-loser/

Lmao loser.

@MirkoS77: I feel this is simply bias, seeing shapes in the clouds and hoping the worst.

This is a very similar expression across most of your President Of The United States Of America.

As well as the pretender who should be on old people medication.

Your 200,000:0 K:D god just got rekt,

Biden releases 2019 tax returns hours before first presidential debate

https://thehill.com/homenews/campaign/518757-biden-releases-2019-tax-returns-hours-before-first-presidential-debate

My freind, using staged PR opportunity to show what a virtuous person the man who has to read cue cards has done is hardly owning.

If anything President Of The United States has helped more people with jobs and income than this fellow could ever hope to achieve prior to becoming your leader.

@uninspiredcup: and I might see similarity, if Obama and Biden prided themselves of being liars and con men. Trump makes no illusions of his intent, feelings, AND contempt, for those he walks over.

Isn’t that partly why you guys worship him so much? His grin is the biggest unspoken “**** you” I’ve ever seen on a person’s face.

Yeah, now get this. Those tax laws that businesses use, Biden helped write and pass a lot of them in his 180 years in the senate. And Obama's IRS audited and cleared him of any wrong doing.

I'm not tax expert, so I really have no idea if Donald's tax status is legal or not. I prefer to presume him innocent until proven guilty, though, which would mean that he is a complete failure as a businessman who loses money in all of his endeavors and is staring down about $1 billion in debt, mostly to foreign debtors because banks won't loan his loser ass money.

A person of his wealth paying $750 in taxes is not at all typical. Every candidate for president is very wealthy, they all release their taxes, and none of them are remotely this pathetic. Mitt Romney has a net worth that absolutely dwarfs Donald's and while his taxes were laughable at the time he released them, $750 makes them look completely reasonable. Donald is nothing but a welfare queen who can't come out ahead because he does stupid shit like pay more than $70,000 for hairstyling. None of that is even debatable at this point. That is why the tax stuff is big news.

No shit, new to politics? Biden just teabagged Trump before the debate even started. Masterfully played. Epic 4D Chess move.

He's upset that Obama and Biden's economy was better and they didn't get 200,000+ people killed.

He jelly.

@eoten: Interesting. This Biden fellow seems very sketchy.