Trump May Have Avoided Paying Taxes for Nearly Two Decades

[oreo]

Tax Records Obtained by The Times Reveal Trump May Have Avoided Paying Taxes for Nearly Two Decades

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur&_r=0
Goddamn, that means he didn't pay all those police, our military, our veterans or the infrastructure that his goods moves across. This man is a crook.

Now we know why he refused to release any income tax returns--he hasn't paid any Federal Taxes in 18 to 20 years.

And here is Rudy Guliano and Chris Christie raving about what a genius he is for not paying any Federal taxes in a couple of decades.
Trump hopes to revive campaign after tax discovery caps a week of ‘self-sabotage’

Mitt Romney got ripped to shreds for paying 500K in one years Federal Taxes because his income was investment income which is taxed at a lower rate.

Trump has paid NOTHING in 2 decades!

And again here is Trump bragging about all his wealth.

 

[easyt65]

Dude, you KNOW if you found a way to never pay taxes again you would do it!

 

[TemplarKormac]

Anyone that could defend Trump isn't worth having a discussion with. You're a supporter of a criminal and a cheat.

LOL. I was told the other day by Nosmo that since the FBI didn't convict Hillary, she didn't do anything wrong. Well lo and behold I catch another liberal claiming that Trump is the criminal this time.

On what evidence? What was he convicted of?

 

[oreo]

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said tax rules that are especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.

Now, thanks to Mr. Trump’s 1995 tax records, the degree to which he spun all those years of red ink into tax write-off gold may be finally apparent.

Mr. Mitnick was the person Mr. Trump leaned on most to do the spinning. The lawyer and accountant worked for a small Long Island accounting firm that specialized in handling tax issues for wealthy New York real estate families. Mr. Mitnick had long handled tax matters for Mr. Trump’s father, Fred C. Trump, and he said he began doing Donald Trump’s taxes after Mr. Trump turned 18.

In “Art of the Deal,” his 1987 best-selling book, Mr. Trump referred to Mr. Mitnick as “my accountant” — although he misspelled his name. Mr. Trump described consulting with Mr. Mitnick on the tax implications of deals he was contemplating and seeking his advice on how new federal tax regulations might affect real estate write-offs.

Mr. Mitnick, though, said there were times when even he, for all his years helping wealthy New Yorkers navigate the tax code, found it difficult to face the incongruity of his work for Mr. Trump. He felt keenly aware of the fact that Mr. Trump was living a life of unimaginable luxury thanks in part to Mr. Mitnick’s ability to relieve him of the burden of paying taxes like everyone else.

“Here the guy was building incredible net worth and not paying tax on it,” he said.

Much More: Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes for Nearly Two Decades - The New York Times

I hate tax cheats. As patriotic Americans - we should all pay our fair share of taxes.

While I understand business loss tax write off's think about one thing. What this also means is Trump is not as wealthy as he claims to be. This loss was reported in 1995, and he apparently hasn't "earned" enough in the last 20 years to wipe out that loss.

One year I wrote off about 15K because a contractor screwed us over, and I had that loss for just one year--and then the next I was back paying Federal taxes again, because we were earning income.

I guess my point is Trump is a horrible business man, if he's as wealthy as he claims to be and hasn't wiped out that loss within a few years, let alone 20 years.

Which goes along with what Michael Bloomberg had to say about Trump and his business practices. Keep in mind that Michael Bloomberg is much wealthier than Trump and I imagine he pays lots of taxes and would have produced income tax returns when he was mayor of New York.

Michael Bloomberg's entire Democratic convention speech

 

[Vigilante]

Flashback: NY Times Crowns Trump The Comeback Kid
nytimes.com ^ | October 25, 1995 | BRETT PULLEY

Though there are still four years to go in the 90's, business and government leaders in New York honored Donald J. Trump yesterday for pulling off what they called "the comeback of the decade."

Mr. Trump, the developer who came to epitomize opulent wealth during the 80's before tumbling into deep financial trouble, has managed to erase much of his debt and is moving ahead with major projects at a time other developers are idling.

Judging from the attention showered on him yesterday at the Union League Club, some of New York's civic and business leaders are quite captivated by Mr. Trump, despite the financial uncertainties that still surround some of his properties.

But the operative word at the luncheon was comeback, though Mr. Trump might dispute that he ever went far away. William D. Fugazy, the limousine magnate and chairman of the Forum Club, the group of business and civic leaders that sponsored the luncheon, presented Mr. Trump with a boomerang encased in glass. "You throw it and it always comes back," he said as he handed it over.

In a flattering speech, Lieut. Gov. Betsy McCaughey called Mr. Trump "the comeback kid." Charles A. Gargano, who as chairman of the Empire State Development Corporation is himself considered one of the new powers of the state, joked about a Perot-Trump presidential ticket. "He would be the most loved Vice President since Spiro T. Agnew," he said. Mr. Gargano, who heads the state's economic development efforts, added, "Thank you for your tax dollars."

 

[oreo]

Flashback: NY Times Crowns Trump The Comeback Kid
nytimes.com ^ | October 25, 1995 | BRETT PULLEY

Though there are still four years to go in the 90's, business and government leaders in New York honored Donald J. Trump yesterday for pulling off what they called "the comeback of the decade."

Mr. Trump, the developer who came to epitomize opulent wealth during the 80's before tumbling into deep financial trouble, has managed to erase much of his debt and is moving ahead with major projects at a time other developers are idling.

Judging from the attention showered on him yesterday at the Union League Club, some of New York's civic and business leaders are quite captivated by Mr. Trump, despite the financial uncertainties that still surround some of his properties.

But the operative word at the luncheon was comeback, though Mr. Trump might dispute that he ever went far away. William D. Fugazy, the limousine magnate and chairman of the Forum Club, the group of business and civic leaders that sponsored the luncheon, presented Mr. Trump with a boomerang encased in glass. "You throw it and it always comes back," he said as he handed it over.

In a flattering speech, Lieut. Gov. Betsy McCaughey called Mr. Trump "the comeback kid." Charles A. Gargano, who as chairman of the Empire State Development Corporation is himself considered one of the new powers of the state, joked about a Perot-Trump presidential ticket. "He would be the most loved Vice President since Spiro T. Agnew," he said. Mr. Gargano, who heads the state's economic development efforts, added, "Thank you for your tax dollars."

A guy supposedly worth 10 billion dollars should have offset a mere 916 million in loses within a year or two. He didn't. 20 years later he is still pealing off that loss?--LOL He's either a lousy businessman or is not worth near as much as he claims to be.

Michael Bloomberg who is much wealthier than Trump and actually pays Federal Taxes didn't think much of Trump's business practices.

Michael Bloomberg's entire Democratic convention speech

"Trump wants to run this country like he runs his business's GOD HELP US." Michael Bloomberg.

 

[Ame®icano]

Anyone that could defend Trump isn't worth having a discussion with. You're a supporter of a criminal and a cheat.

LOL. I was told the other day by Nosmo that since the FBI didn't convict Hillary, she didn't do anything wrong. Well lo and behold I catch another liberal claiming that Trump is the criminal this time.

On what evidence? What was he convicted of?

 

[Vigilante]

Flashback: NY Times Crowns Trump The Comeback Kid
nytimes.com ^ | October 25, 1995 | BRETT PULLEY

Though there are still four years to go in the 90's, business and government leaders in New York honored Donald J. Trump yesterday for pulling off what they called "the comeback of the decade."

Mr. Trump, the developer who came to epitomize opulent wealth during the 80's before tumbling into deep financial trouble, has managed to erase much of his debt and is moving ahead with major projects at a time other developers are idling.

Judging from the attention showered on him yesterday at the Union League Club, some of New York's civic and business leaders are quite captivated by Mr. Trump, despite the financial uncertainties that still surround some of his properties.

But the operative word at the luncheon was comeback, though Mr. Trump might dispute that he ever went far away. William D. Fugazy, the limousine magnate and chairman of the Forum Club, the group of business and civic leaders that sponsored the luncheon, presented Mr. Trump with a boomerang encased in glass. "You throw it and it always comes back," he said as he handed it over.

In a flattering speech, Lieut. Gov. Betsy McCaughey called Mr. Trump "the comeback kid." Charles A. Gargano, who as chairman of the Empire State Development Corporation is himself considered one of the new powers of the state, joked about a Perot-Trump presidential ticket. "He would be the most loved Vice President since Spiro T. Agnew," he said. Mr. Gargano, who heads the state's economic development efforts, added, "Thank you for your tax dollars."

A guy supposedly worth 10 billion dollars should have offset a mere 916 million in loses within a year or two. He didn't. 20 years later he is still pealing off that loss?--LOL He's either a lousy businessman or is not worth near as much as he claims to be.

Michael Bloomberg who is much wealthier than Trump and actually pays Federal Taxes didn't think much of Trump's business practices.

Michael Bloomberg's entire Democratic convention speech

"Trump wants to run this country like he runs his business's GOD HELP US." Michael Bloomberg.

Another fucking genius that doesn't realize we are talking about 1995!! LOLOL

 

[OnePercenter]

Well short-bus, how about FICA during Reagan, wage disparity with costs fought by Republicans, and all of those wonderful tax breaks for the rich.

Didn't affect me one bit.

Cause you were living with Mom and Dad?

 

[oreo]

Anyone that could defend Trump isn't worth having a discussion with. You're a supporter of a criminal and a cheat.

LOL. I was told the other day by Nosmo that since the FBI didn't convict Hillary, she didn't do anything wrong. Well lo and behold I catch another liberal claiming that Trump is the criminal this time.

On what evidence? What was he convicted of?

Anyone that could defend Trump isn't worth having a discussion with. You're a supporter of a criminal and a cheat.

LOL. I was told the other day by Nosmo that since the FBI didn't convict Hillary, she didn't do anything wrong. Well lo and behold I catch another liberal claiming that Trump is the criminal this time.

On what evidence? What was he convicted of?

You've completely ignored Trump's legal issues. The State Attorney general just opened up an investigation into Trump's foundation. They actually have two cancelled checks in the amount of $258,000 in (charitable donations) that Trump used to settle legal claims, unrelated to the Foundation. Apparently he can't find the paperwork on those transactions, but they have the checks.
'I've never encountered anything so brazen': Report details shocking new revelations about Trump Foundation

Then those other 3500 civil law suits, many regarding non payment to small business contractors that completed work for Trump and didn't get paid.
USA TODAY exclusive: Hundreds allege Donald Trump doesn’t pay his bills

So Trump not only doesn't pay Federal Taxes, he doesn't pay people who do work for him either.

Then Trump University is scheduled on the court docket, and I imagine this woman will be the 1st witness to testify for the plaintiff.



IOW--right now Hillary Clinton could have another 3 Benghazi's under her belt, and found to have Kim Jung Il has her IT maintenance manager and would still win the election--LOL You really couldn't have found a worse candidate than Donald Trump, if you had gone out on a midnight scavenger hunt to find one.

At any rate, it's clear who the real CRIMINAL is, and it's DONALD TRUMP.

 

[Vigilante]

• State Department Admits It ‘Lost’ Clinton Foundation Email
  
  Breitbart ^ | 1 Oct 2016 | John Hayward
  The State Department has admitted it lost a 2012 email between Hillary Clinton aide Jake Sullivan and a Clinton Foundation employee, which may demonstrate a financial conflict of interest for the former secretary of state. The Washington Examiner describes the message as follows: The email contained an attachment memo about Greek bonds — a significant detail given the heavy investments Clinton’s son-in-law, Marc Mezvinsky, was making in the Greek economic recovery during that same period.

How VERY FUCKING CONVENIENT!

 

[OnePercenter]

Tax regulations that benefit the rich/wealthy. Can you name one written in the last 45 years by a Republican that doesn't?

Certainly. In effort to get along with the idiot in the White House, they increased capital gains taxes, they increased corporate taxes, they increased taxes on those making 400k per year. Anything else you'd like to know?

Whats you point? The rich/wealthy and corporations pay less of the total monies they make in federal tax than you.

 

[Vigilante]

Tax regulations that benefit the rich/wealthy. Can you name one written in the last 45 years by a Republican that doesn't?

Certainly. In effort to get along with the idiot in the White House, they increased capital gains taxes, they increased corporate taxes, they increased taxes on those making 400k per year. Anything else you'd like to know?

Whats you point? The rich/wealthy and corporations pay less of the total monies they make in federal tax than you.

Yup, DemocRAT Tax Laws work like that.... you scum HATE people that make money, while all you can do is collect entitlements!

 

[Ray From Cleveland]

Whats you point? The rich/wealthy and corporations pay less of the total monies they make in federal tax than you.

You asked what Republicans have done that DIDN'T benefit the rich in the last 45 years and I told you. In fact you didn't need to go back 45 years, just four or five years. If you want to go back further, I can give you regulations Bush made on the oil companies that cost them money as well.

 

[beagle9]

"The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan."

And conservatives want to elect Trump so he can do the same to the American economy.

The blind partisanism practiced by most on the right is truly remarkable.

. So you confirm our desperation to get away from the Demon-crats wrecking the American economy ?? Hey at least with Trump we get a veteran who has been through some tough times, and has come out a winner by hard work and teamwork. Now if you think crooked Hillary is any better, then that's you, but with the choices we got in this election, Trump is the most American up on that stage, and more so than we have in the anti-American democrats. Everything isn't about money anyway. It's time we get an American back in the whitehouse.

 

[Ray From Cleveland]

Cause you were living with Mom and Dad?

Not everybody lives your lifestyle you know..........

 

[Bush92]

Tax Records Obtained by The Times Reveal Trump May Have Avoided Paying Taxes for Nearly Two Decades

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

http://www.nytimes.com/2016/10/02/us/politics/donald-trump-taxes.html?smid=tw-nytimes&smtyp=cur&_r=0
Goddamn, that means he didn't pay all those police, our military, our veterans or the infrastructure that his goods moves across. This man is a crook.

May have? Hey he did. Smart motherfucker. System broken. Work it. Anyone would.

 

[ScienceRocks]

Tax regulations that benefit the rich/wealthy. Can you name one written in the last 45 years by a Republican that doesn't?

Certainly. In effort to get along with the idiot in the White House, they increased capital gains taxes, they increased corporate taxes, they increased taxes on those making 400k per year. Anything else you'd like to know?

Whats you point? The rich/wealthy and corporations pay less of the total monies they make in federal tax than you.

And still have the nerve to outsource, offshore and import cheap labor to replace you. Nothing is more treasonous then big corporate America! They also for good measure destroy small business with these tax breaks and turn the other cheek with utter disregard for our anti-trust laws.

 

[Bush92]

Tax regulations that benefit the rich/wealthy. Can you name one written in the last 45 years by a Republican that doesn't?

Certainly. In effort to get along with the idiot in the White House, they increased capital gains taxes, they increased corporate taxes, they increased taxes on those making 400k per year. Anything else you'd like to know?

Whats you point? The rich/wealthy and corporations pay less of the total monies they make in federal tax than you.

And still have the nerve to outsource, offshore and import cheap labor to replace you. Nothing is more treasonous then big corporate America! They also for good measure destroy small business with these tax breaks and turn the other cheek disregard for our anti-trust laws.

Your voting for George Soros sponsored Wall Street Hillary! Lmfao.

 

[Bush92]

• State Department Admits It ‘Lost’ Clinton Foundation Email
  
  Breitbart ^ | 1 Oct 2016 | John Hayward
  The State Department has admitted it lost a 2012 email between Hillary Clinton aide Jake Sullivan and a Clinton Foundation employee, which may demonstrate a financial conflict of interest for the former secretary of state. The Washington Examiner describes the message as follows: The email contained an attachment memo about Greek bonds — a significant detail given the heavy investments Clinton’s son-in-law, Marc Mezvinsky, was making in the Greek economic recovery during that same period.

How VERY FUCKING CONVENIENT!

Just amazing. Absofuckinglutlely amazing.