Trump Floored By MASSIVE Sales Tax Avoidance Scandal, Campaign Goes Silent

[billyerock1991]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

45% of Americans pay no federal income tax

"The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it."
.

hers my question to you help me understand ... you make 20,000 a year each and every time you get paid money is taken out ... you do your taxes you find out of that money you paid in for your federal taxes you're getting back 350.dollars ... how is that you didn't pay any taxes ... even welfare people are taxed and yet they are said to be not paying any taxes ... how do they come to this conclusion they don't pay any taxes ...I don't understand how they come to this conclusion ... can you explain to me so I can understand ...I'm serious here, not trying to bull shit here

The bottom line is the net Effective Tax Rate - this is the percentage of your AGI (Adjusted Gross Income) that you paid to the government in federal taxes for that calendar year, after deductions and credits. Once you have done your taxes.

So yes, at $20,000 you're probably paying a few dollars during the course of the year through your paychecks, but the question is how much you paid after receiving your refund, once all the dust has cleared, including low income credits.
.

but still after the Adjusted income ... still you paid in say a 1000 dollars in, just for conversation, you don't get back that 1000 dollars you get back a certain amount of that money back ...I don't think I every got a 1000 dollars back that I paid in ... I pay myself 20,000 dollars a year from my investments and and social security ... I pay a certain amount in taxes every 3 months ...at the end of the year I don't pay any taxes ... I don't get that money back that I paid in ... this is why I'm having trouble with this... I serious now, this is all done by my money mgr. and my tax accountant ... I not smart enough to do taxes and manage my money properly ... all my money comes from social security and my Ira now... I personally don't need any more money then 20,000 a year ... everything I own is paid for ... so if I want to go some where, I go ... if I want to buy something that's cost a lot, I contact my money mgr and he gets the money for me with out affecting the principle ... but Ive never ever got the entire money that I paid in ... now this is my personal experience ... I have a few friend who make very little money and they get back money but never all of their money they paid in ... I don't seem to get how they say they don't pay taxes ... every body I know has never got the entire amount they paid in back

It's impossible to say without seeing the details. And it's good that you're out of the loop at this point on taxes, one less freakin' headache.
.

I'm not really out of the loop I still pay taxes ... if you mean paying of taxes I'm out of the loop or not working anymore Im out of the loop not sure what you meant ...

 

[Care4all]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

45% of Americans pay no federal income tax

"The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it."
.

except Donald...he's in the top 0.01%- 1% and possibly pays none..

 

[Mac1958]

I'm not really out of the loop I still pay taxes ... if you mean paying of taxes I'm out of the loop or not working anymore Im out of the loop not sure what you meant ...

Just that your income is pretty predictable. And obviously you're paying OTHER kinds of taxes...
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[initforme]

I think its time a middle class tax expert sit down, take a long look at both candidates taxes and all financial matters, and ho on television and tell the american people

1). Exactly how much did each make each year for the part 5 years

2). Exactly how much did they pay in...after all is said and done

3). Explain the loopholes written fort the uber wealthy and why they receive those benefits

But of course corporate influence would be against this. They don't want average ordinary people to know this info because it might lead to an angry public.

 

[Mac1958]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

45% of Americans pay no federal income tax

"The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it."
.

except Donald...he's in the top 0.01%- 1% and possibly pays none..

We don't know for sure.
.

 

[Seawytch]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

45% of Americans pay no federal income tax

"The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it."
.

except Donald...he's in the top 0.01%- 1% and possibly pays none..

We don't know for sure.
.

You're right, we don't know if Don the Con is in the top 0.01%- 1%...he's pretty much confirmed that he didn't pay taxes after his huge loss that he says makes him "smart".

 

[Mac1958]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

45% of Americans pay no federal income tax

"The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it."
.

except Donald...he's in the top 0.01%- 1% and possibly pays none..

We don't know for sure.
.

You're right, we don't know if Don the Con is in the top 0.01%- 1%...he's pretty much confirmed that he didn't pay taxes after his huge loss that he says makes him "smart".

He just hands his shit to his accountants and they do what accountants are supposed to do per tax law.

If he feels that makes him brilliant on tax strategy, I guess I wouldn't be surprised.
.

 

[bullwinkle]

If going back to 1986 is what the Crooked Hillary folks want to do, let's talk about Crooked Hillary making $100,000 playing the cattle futures market with a little help from insiders. CPAs get graduate degrees in taxation so they get hired by folks who to minimizing taxes. It is totally legal. Insider trading like Crooked Hillary did is not legal.

the fact that Clinton never took how you said, a little helpp from their friends ... here's the real question you should be asking yourself ... when it deals with taxes being paid why does trump try and cheat the system

Trump is under constant IRS audit and has been for many years. Trump lost almost a billion last year and obeys US Tax Law or he would be locked up.

So if Trump lives personally very 'high on the hog' while losing yuuge amounts yearly, what does this bode for America if he becomes CIC? Since he clearly is an egoist that needs to be surrounded by sycophants, as evidenced by this threat of purges of the military and journalistic sort, will Republicans stop caterwauling about the national debt? Will America stiff it's creditors? And if all the 'smart' people tiptoe thru a loophole, who will pick up the tabs?

Who says he loses money yearly? He bounced back after being 900m in the hole. We are 20 trillion in the hole so we need someone with that kind of working knowledge and determination.

What normal people consider a huge success, liberals see failure. To them, government is a fat hog we nurse off of and must be fed with other people's money. That's the extent of their business acumen.

<<Who says he loses money yearly? He bounced back after being 900m in the hole. We are 20 trillion in the hole so we need someone with that kind of working knowledge and determination.>> Iceweasel, he bounced back because with the claimed losses, he didn't have to pay Fed taxes on about 50 mill a year for the next 18 years. And since his income was probably not up to 50 mil per year...zip. He earned yuuge amounts, just not 50 mil, ergo..no Fed taxes and live high on said hog. So if a person lives in golden towers while enjoying all the rights and privileges and protections of a generous nation to the nth degree, say again which of us thinks the government is a fat hog to nurse from.

 

[Care4all]

90% plus of citizens did not pay any income tax in the beginning, only the very very wealthiest did.... The Standard deduction and personal exemption was the equivalent of $65k a person back then..... so only those who made their fortunes here, paid income tax...only those who had the 'means' to pay, had to pay....below $65k earnings in today's dollars, did not.

 

[Seawytch]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

45% of Americans pay no federal income tax

"The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it."
.

But wait...don't they own more than 40% of the nation's wealth? Seems to me that as a result they should be sharing more of the tax burden. The top 1% of the country owns 40% of it's wealth. They own more wealth than the bottom 95% of the country combined.

 

[xband]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

45% of Americans pay no federal income tax

"The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it."
.

except Donald...he's in the top 0.01%- 1% and possibly pays none..

We don't know for sure.
.

You're right, we don't know if Don the Con is in the top 0.01%- 1%...he's pretty much confirmed that he didn't pay taxes after his huge loss that he says makes him "smart".

Some people play the stock market that is nothing more than a high dollar casino. As much as it hurts any investor must 'stop loss' before losing it all.

 

[Mac1958]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

45% of Americans pay no federal income tax

"The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it."
.

But wait...don't they own more than 40% of the nation's wealth? Seems to me that as a result they should be sharing more of the tax burden. The top 1% of the country owns 40% of it's wealth. They own more wealth than the bottom 95% of the country combined.

Yep. So how do you deal with that? I've thought about that quite a bit.

A wealth tax? A net worth tax? That would get ugly fast, on a variety of levels.
.

 

[Seawytch]

Don't worry the people who actually do the work will pay the taxes. The rich are safe. We got your back Richies.

45% of Americans pay no federal income tax

"The top 1% of Americans, who have an average income of more than $2.1 million, pay 43.6% of all the federal individual income tax in the U.S.; the top 0.1% — just 115,000 households, whose average income is more than $9.4 million — pay more than 20% of it."
.

But wait...don't they own more than 40% of the nation's wealth? Seems to me that as a result they should be sharing more of the tax burden. The top 1% of the country owns 40% of it's wealth. They own more wealth than the bottom 95% of the country combined.

Yep. So how do you deal with that? I've thought about that quite a bit.

A wealth tax? A net worth tax? That would get ugly fast, on a variety of levels.
.

Consumption tax.

 

[Care4all]

Can someone....(maybe you Mac1958) please explain to me in kindergarten level talk,

How can someone write off $940 million as a personal loss on his personal income taxes, when it was money he borrowed from bankers/investors, that he declared bankruptcy on, so he only had to pay them back pennies on the dollar...yet he gets to write off the whole $940 million as his own loss?

I am so confused on this?

Donald never had $940 million of his own money to lose?

 

[xband]

Can someone....(maybe you Mac1958) please explain to me in kindergarten level talk,

How can someone write off $940 million as a personal loss on his personal income taxes, when it was money he borrowed from bankers/investors, that he declared bankruptcy on, so he only had to pay them back pennies on the dollar...yet he gets to write off the whole $940 million as his own loss?

I am so confused on this?

Donald never had $940 million of his own money to lose?

I am the most honorable and respected man you will ever meet. Elect me and I will turn the world topsey turvey.

 

[ShaklesOfBigGov]

MASSIVE SCANDAL At The New York Times Just Blew Up The Election...

What do we have here? Another business that is found not to be paying "their fair share" of taxes? So the Clinton camp wants everyone to believe no other businesses will be uncovered using accountants to find those benefits, contributions, and charities that will help them avoid paying an excessive amount in taxes during difficult times? Exactly how many businesses encountering financial difficulty (like the New York Times) will raise up to the surface and be found guilty of using our tax system to benefit the CEO? All while liberals lay claim to the fact that Businesses, and Americans alike, don't take advantage of those benefits that allow them to pay less in taxes.

 

[jknowgood]

Trump Floored By MASSIVE Sales Tax Avoidance Scandal, Campaign Goes Silent

Along with the New York Times discovery that Trump lost nearly $1 billion in 1995, it was also discovered that Donald Trump is known for evading taxes — even sales taxes. Forbes dug up a criminal case from 1986 wherein Donald Trump was evading New York state sales tax in collusion with a Bulgari jewelry store. The high-end jewelry store and Donald Trump seemed to have worked out a deal where Trump could avoid paying sales tax to the state and the city.

Trump would enter the store at the Fifth Avenue location in Manhattan to purchase a piece for a wife or girlfriend such as an expensive watch or necklace. Under normal circumstances, Bulgari would charge the customer sales tax, which would then be later paid to state coffers.

But Trump and Bulgari had a deal. As a way to illegally avoid paying the sales tax, normally a pretty large sum on expensive jewelry, Trump would “ask” the store to ship the jewelry to an out-of-state address so that sales tax would not be collected.

Many online vendors sell out-of-state and are not required to collect or pay state sales tax unless they have a store or business location in the state where the item is delivered. But this was in 1986 before internet commerce and even today, state budgets are suffering from the practice.

What Forbes discovered is that the store would ship an empty box to the out-of-state address, and Trump and his current arm candy would walk out of the store with the jewelry.

New York tax collectors caught up to Bulgari and Trump and a number of others using this scam to cheat the State of New York out of rightful revenue, and Trump was called to testify against the store to protect himself against charges. According to The Los Angeles Times, Trump purchased over $65,000 worth of jewelry using this method, which is approximately $142,000 in 2016 dollars.

And the New York Sales tax scam isn’t the only tax evasion in Donald Trump’s past. Trump also stiffed the state of Florida for property taxes on his Mar-a-Lago estate. According to POLITICO reporter Frank Cerabino, Trump purchased the Palm Beach, Florida, estate from cereal empire heiress Marjorie Merriweather Post for the low, low price of $7.5 million. County appraisers, however, assessed the value of the property at $11.5 million when he bought it. This is a common practice, and new property owners are expected to pay property tax on the assessed value after the time of sale. But Donald Trump decided to cheat the county, and pay property taxes at the sales price instead of the actual value. Trump eventually wheedled out of paying the higher property taxes by giving up his development rights on some of the land to the National Trust for Historic Preservation, saving him from paying for the “highest and best use” standard normally used by tax assessors.

BREAKING: Trump Floored By MASSIVE Sales Tax Avoidance Scandal, Campaign Goes Silent

Every shitty thing is coming to the surface on this son of a bitch! He made a mistake running for the presidency! Dumbass.

Trump obeys tax laws. Clinton doesn't report millions of donations, which is against the law. So Matt prove you're not a tool and go against Hillary. Since the tax issue is so important to you.

 

[EvilCat Breath]

There is no massive scandal and no scheme to avoid paying sales taxes. There is only an unknowing public.

Taxes are paid on items shipped out if state. Even if someone had an item shipped out of state taxes would be paid, it's called a use tax and all states collect them.

Use Tax

 

[EvilCat Breath]

Can someone....(maybe you Mac1958) please explain to me in kindergarten level talk,

How can someone write off $940 million as a personal loss on his personal income taxes, when it was money he borrowed from bankers/investors, that he declared bankruptcy on, so he only had to pay them back pennies on the dollar...yet he gets to write off the whole $940 million as his own loss?

I am so confused on this?

Donald never had $940 million of his own money to lose?

You are assuming that all taxes are personal taxes. It's obvious that the money was a business loss.

 

[Care4all]

MASSIVE SCANDAL At The New York Times Just Blew Up The Election...

What do we have here? Another business that is found not to be paying "their fair share" of taxes? So the Clinton camp wants everyone to believe no other businesses will be uncovered using accountants to find those benefits, contributions, and charities that will help them avoid paying an excessive amount in taxes during difficult times? Exactly how many businesses encountering financial difficulty (like the New York Times) will raise up to the surface and be found guilty of using our tax system to benefit the CEO? All while liberals lay claim to the fact that Businesses, and Americans alike, don't take advantage of those benefits that allow them to pay less in taxes.

How about Trump and the New York times releasing the past 20 years of tax returns so we can compare the two and see who has paid more federal and State income taxes as a percentage?