Trump: Low Taxes are "Ridiculous"

[The Rabbi]

If you need a new piece of equipment you buy it. It is deducted from the corporate profit.

What about small business owners who aren't incorporated? I'm a sole proprietor.

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

No, it's basic accounting.

If I'm writing it off, then I'm deducting it from my taxes, correct?

That makes it a deduction.

I thought you were a businessman?

Doubling down on stupid?
It isnt deducted from taxes. That's just for starters.

 

[Zander]

If you need a new piece of equipment you buy it. It is deducted from the corporate profit.

What about small business owners who aren't incorporated? I'm a sole proprietor.

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

No, it's basic accounting.

If I'm writing it off, then I'm deducting it from my taxes, correct?

That makes it a deduction.

I thought you were a businessman?

Nope. You don't deduct them from your taxes. Your deduct them from your P&L statement.

It's not complicated. Revenue-expenses=profit.

Equipment, salaries, rent, etc...are all expenses.

You only pay taxes on your profit.

 

[The Rabbi]

What about small business owners who aren't incorporated? I'm a sole proprietor.

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

No, it's basic accounting.

If I'm writing it off, then I'm deducting it from my taxes, correct?

That makes it a deduction.

I thought you were a businessman?

Nope. You don't deduct them from your taxes. Your deduct them from you P&L statement.

It's not complicated. Revenue-expenses=profit.

Equipment, salaries, rent, etc...are all expenses.

You only pay taxes on your profit.

Some people dont get it.

 

[Synthaholic]

If you need a new piece of equipment you buy it. It is deducted from the corporate profit.

What about small business owners who aren't incorporated? I'm a sole proprietor.

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

No, idiot. OTherwise you would levy a tax on revenue instead of earnings. Get an adult to explain it.

If you're writing something off your taxes are you adding to your taxes or deducting from your taxes?

You're a stupid motherfucker.

 

[Synthaholic]

What about small business owners who aren't incorporated? I'm a sole proprietor.

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

No, it's basic accounting.

If I'm writing it off, then I'm deducting it from my taxes, correct?

That makes it a deduction.

I thought you were a businessman?

Nope. You don't deduct them from your taxes. Your deduct them from your P&L statement.

It's not complicated. Revenue-expenses=profit.

Equipment, salaries, rent, etc...are all expenses.

You only pay taxes on your profit.

So you're just playing with words. Got it.

 

[The Rabbi]

If you need a new piece of equipment you buy it. It is deducted from the corporate profit.

What about small business owners who aren't incorporated? I'm a sole proprietor.

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

No, idiot. OTherwise you would levy a tax on revenue instead of earnings. Get an adult to explain it.

If you're writing something off your taxes are you adding to your taxes or deducting from your taxes?

You're a stupid motherfucker.

Dont ever call anyone a stupid motherfucker, you dumbshit. You clearly do not understand how taxes work or what write-off means.

 

[Zander]

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

No, it's basic accounting.

If I'm writing it off, then I'm deducting it from my taxes, correct?

That makes it a deduction.

I thought you were a businessman?

Nope. You don't deduct them from your taxes. Your deduct them from your P&L statement.

It's not complicated. Revenue-expenses=profit.

Equipment, salaries, rent, etc...are all expenses.

You only pay taxes on your profit.

So you're just playing with words. Got it.

Whatever lets you sleep at night....

 

[Billy000]

Spending is to high....but the left won't touch that with a ten foot pole

Bernie Sanders wants to cut the defense budget.

 

[Synthaholic]

What about small business owners who aren't incorporated? I'm a sole proprietor.

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

No, idiot. OTherwise you would levy a tax on revenue instead of earnings. Get an adult to explain it.

If you're writing something off your taxes are you adding to your taxes or deducting from your taxes?

You're a stupid motherfucker.

Dont ever call anyone a stupid motherfucker, you dumbshit. You clearly do not understand how taxes work or what write-off means.

Write-off means you do not have to pay taxes on it. That's deducting it from the taxes you have to pay.

You're a stupid motherfucker.

 

[Esmeralda]

Low taxes on hedge fund managers, that is.

Republican presidential front-runner Donald Trump blasted hedge fund managers on Sunday as mere "paper pushers" who he said were "getting away with murder" by not paying their fair share of taxes.

In a telephone interview on CBS's "Face the Nation," Trump vowed to reform the tax laws if elected and said the current system was harming middle class Americans who currently faced higher tax rates than traders on Wall Street.

"The hedge fund guys didn't build this country. These are guys that shift paper around and they get lucky," Trump said.

"They are energetic. They are very smart. But a lot of them - they are paper-pushers. They make a fortune. They pay no tax. It's ridiculous, ok?"

Trump's comments were referring to the so-called "carried interest loophole" - a provision in the tax code which allows private equity and hedge fund managers pay taxes at the capital gains rate instead of the ordinary income rate.

Many fund managers are in the top income bracket, but the capital gains tax bracket is only 20 percent.

While these individuals are also required to pay an additional 3.8 percent surtax on their net investment income, this total rate is still far lower than the 39.6 percent rate that top wage earners must pay on their ordinary income.​

Trump says tax code is letting hedge funds 'get away with murder'

I happen to agree with Trump on this. As does Hillary Clinton. And Bernie Sanders.

But when I've discussed this with conservatives here on the board in the past, they've disagreed with me, saying hedge fund managers shouldn't pay higher taxes.

It seems like the average right wing conservative poster on this board believes in the rich getting richer and the poor getting poorer. The irony is that most if not all of them are part of the second group. How many wealthy right wing conservative posters are on this board I wonder: not many, if any at all.

 

[BluesLegend]

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

No, idiot. OTherwise you would levy a tax on revenue instead of earnings. Get an adult to explain it.

If you're writing something off your taxes are you adding to your taxes or deducting from your taxes?

You're a stupid motherfucker.

Dont ever call anyone a stupid motherfucker, you dumbshit. You clearly do not understand how taxes work or what write-off means.

Write-off means you do not have to pay taxes on it. That's deducting it from the taxes you have to pay.

You're a stupid motherfucker.

Good lord please refrain from voting until you repeat the 8th grade.

 

[The Rabbi]

Spending is to high....but the left won't touch that with a ten foot pole

Bernie Sanders wants to cut the defense budget.

Of course he does. And leave America defenseless against enemies. The Defense budget is already the lowest its been in decades as a percentage.

 

[The Rabbi]

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

No, idiot. OTherwise you would levy a tax on revenue instead of earnings. Get an adult to explain it.

If you're writing something off your taxes are you adding to your taxes or deducting from your taxes?

You're a stupid motherfucker.

Dont ever call anyone a stupid motherfucker, you dumbshit. You clearly do not understand how taxes work or what write-off means.

Write-off means you do not have to pay taxes on it. That's deducting it from the taxes you have to pay.

You're a stupid motherfucker.

Do not call anyone a stupid motherfucker as long as you demonstrate your ignorance of taxes. Write off does not mean you dont have to pay taxes on it. Write off is not deducting from taxes you have to pay.

 

[The Rabbi]

Low taxes on hedge fund managers, that is.

Republican presidential front-runner Donald Trump blasted hedge fund managers on Sunday as mere "paper pushers" who he said were "getting away with murder" by not paying their fair share of taxes.

In a telephone interview on CBS's "Face the Nation," Trump vowed to reform the tax laws if elected and said the current system was harming middle class Americans who currently faced higher tax rates than traders on Wall Street.

"The hedge fund guys didn't build this country. These are guys that shift paper around and they get lucky," Trump said.

"They are energetic. They are very smart. But a lot of them - they are paper-pushers. They make a fortune. They pay no tax. It's ridiculous, ok?"

Trump's comments were referring to the so-called "carried interest loophole" - a provision in the tax code which allows private equity and hedge fund managers pay taxes at the capital gains rate instead of the ordinary income rate.

Many fund managers are in the top income bracket, but the capital gains tax bracket is only 20 percent.

While these individuals are also required to pay an additional 3.8 percent surtax on their net investment income, this total rate is still far lower than the 39.6 percent rate that top wage earners must pay on their ordinary income.​

Trump says tax code is letting hedge funds 'get away with murder'

I happen to agree with Trump on this. As does Hillary Clinton. And Bernie Sanders.

But when I've discussed this with conservatives here on the board in the past, they've disagreed with me, saying hedge fund managers shouldn't pay higher taxes.

It seems like the average right wing conservative poster on this board believes in the rich getting richer and the poor getting poorer. The irony is that most if not all of them are part of the second group. How many wealthy right wing conservative posters are on this board I wonder: not many, if any at all.

You've described Democratic voters.
Question: Have the rich gotten richer or poorer under Obama?
Question: Have the poor gotten richer or poorer under Obama?

 

[Mac1958]

Looks like someone is confusing tax credits with tax deductions.
.

 

[Ravi]

Section 179: What Every Business Owner Needs to Know | Nolo.com

^ explains the business write off

 

[The Rabbi]

Looks like someone is confusing tax credits with tax deductions.
.

He's confusing revenue with income. He's confusing deductions from revenue with tax credits.
He's just one confused ignorant dude.

 

[Ravi]

If you need a new piece of equipment you buy it. It is deducted from the corporate profit.

What about small business owners who aren't incorporated? I'm a sole proprietor.

Same thing. You buy what you need and write it off the year you buy it.

isn't that a deduction?

Yes.

You can deduct virtually any office equipment or supplies your business needs. Printers, copiers, paper, desks, software, filing cabinets -- all are fair game for write-offs. For big-ticket items such as furniture, you can choose how you deduct. Some businesses write off the entire purchase price in the year they bought the goods. Others depreciate equipment over five years, or furniture over seven years. For software, the depreciation period is three years. For equipment and furniture put to use in 2012 and 2013, companies can deduct as much as $500,000 in costs. That write-off is scheduled to drop to $25,000 in 2014. Businesses that make capital investments with credit enjoy an extra write-off: They can deduct interest and carrying charges.

List of Common Things Your Business Can Write Off on Taxes

 

[Ravi]

Btw they extended it again for 2014 will hopefully extend it again for 2015.

 

[KissMy]

Spending is to high....but the left won't touch that with a ten foot pole

You are a fool. Republicans explode spending, Democrats cut it!