Trump May Have Avoided Paying Taxes for Nearly Two Decades

[Dale Smith]

Republicans like to milk the system and let the little guys pay off the national debt. They seem to think that is somehow patriotic. Actually - it's psychotic.

What is the "national debt"? Money borrowed by USA.INC to provide the 19 enumerated and essential "gubermint" services as a successor to contract"??? That's akin to you being responsible for the debts of a gardener that you contracted to take care of your lawn and suddenly went "bankrupt"..,.are you responsible for that debt? There isn't one damn bit of difference between the two but we have been "chumped" into believing that we are responsible for the debt of this corporate entity and nothing could be further from the truth.

 

[Dale Smith]

It's never been illegal to deduct losses.

Republicans made it so.

DERP!

ALL tax goodies for the rich/wealthy were written by Republicans. I know, I use them every quarter.

Repubs/dems....just different sides of the same coin...not a klunt hair's difference between them.

Except Republicans continue the 'Bro's/hoes' philosophy. If you are rich, you are a Bro. If not........

Bullshit...they are the same members of the same clubs. We had a chance to do a top down audit of the parasitic Fed bank in 2015 and it was blocked by leftards on the banking committee and back in the 90's the neocons did the same fucking thing. They take turns being the "bad guys". Wake the fuck up.....

 

[Toddsterpatriot]

It's never been illegal to deduct losses.

Republicans made it so.

DERP!

ALL tax goodies for the rich/wealthy were written by Republicans. I know, I use them every quarter.

Tell me again about the low rate your fake trust pays. LOL!

That would be 4%.

You're breaking the law.
Or, in your stupidity, confusing business revenue with income.
Or you live in your parents basement and make minimum wage.

Based on your stupidity, the third choice is most likely.

 

[Frank'sRules]

Taxes are for the little people.

Taxes are for people that are too stupid to read the tax code to see if they are actually eligible to pay them as it pertains to the income tax.

You say that people who don't pay income taxes are moochers? Trump doesn't pay income tax. What is Trump, a patriot or a moocher?

You can't have it both ways.

 

[SwimExpert]

Please explain? AFAIK, there is noting showing the he laundered funds through his NPO making that a separate issue from his taxes (the point of the thread).

I have heard some interesting charges of him essentially stealing from his NPO though and that I think is a major issue. It does not seem to have any legs though and I do nit understand why. We are constantly talking about Miss Universe tweets which are meaningless.

That's basically what I'm talking about. Trump controls the charity's funds. I wouldn't at all be surprised if he's made a habit in the past of purposely "donating" money to the charity for tax deduction purposes, and then using charity funds to pay personal expenses.

 

[Frank'sRules]

Please explain? AFAIK, there is noting showing the he laundered funds through his NPO making that a separate issue from his taxes (the point of the thread).

I have heard some interesting charges of him essentially stealing from his NPO though and that I think is a major issue. It does not seem to have any legs though and I do nit understand why. We are constantly talking about Miss Universe tweets which are meaningless.

That's basically what I'm talking about. Trump controls the charity's funds. I wouldn't at all be surprised if he's made a habit in the past of purposely "donating" money to the charity for tax deduction purposes, and then using charity funds to pay personal expenses.

Yep. Rich guys don't get richer by obey the spirit of the law. They use the letter of the law to cheat.

Trump doesn't write us checks we write him checks. That's why he can never release his tax returns like any normal person. If that got out, that would end Trump's chances being elected.

 

[Dale Smith]

Taxes are for the little people.

Taxes are for people that are too stupid to read the tax code to see if they are actually eligible to pay them as it pertains to the income tax.

You say that people who don't pay income taxes are moochers? Trump doesn't pay income tax. What is Trump, a patriot or a moocher?

You can't have it both ways.

The income tax does not go towards paying the day to day operations of the corporate entity that is USA.INC....that is what I am saying. The IRS is a Puerto Rican Trust #62 that is the collection arm of the IMF that took USA.INC into receivership in 1950 when it once again declared bankruptcy. We pay a tax for the privilege of using a fiat currency that is backed by nothing of an intrinsic value. The IMF, Federal Reserve, Bank For International Settlements are owned by the same oligarchs that have made us all debt slaves and beholding to them. Do you think it is ANY accident that the entire financial system is on the verge of collapse? Every country but three has a Rothschild central bank...it's a fucking fact.

 

[EvilCat Breath]

By next week WAPO will say he murdered two people.

 

[Dale Smith]

Please explain? AFAIK, there is noting showing the he laundered funds through his NPO making that a separate issue from his taxes (the point of the thread).

I have heard some interesting charges of him essentially stealing from his NPO though and that I think is a major issue. It does not seem to have any legs though and I do nit understand why. We are constantly talking about Miss Universe tweets which are meaningless.

That's basically what I'm talking about. Trump controls the charity's funds. I wouldn't at all be surprised if he's made a habit in the past of purposely "donating" money to the charity for tax deduction purposes, and then using charity funds to pay personal expenses.

Wow, great job because you just described what the Clintons have done with their (snicker) "Foundation"........which is nothing but their own private slush fund.....

 

[LeftofLeft]

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.

Once we get a consensus on fair share, we can figure out who is cheating and who is not. You people simply throw around the term, " fair share" yet provide no criteria or context. John Kerry is a tax cheat in his own state where he served as Senator. How about them apples?

 

[A Perez]

This is approaching Bernie Madoff level fraud

when was Trump indicted for "fraud?"

When was Hillary indicted for anything?

 

[Norman]

There is no evidence what so ever that Trump is a tax cheat.

 

[Toddsterpatriot]

Taxes are for the little people.

Taxes are for people that are too stupid to read the tax code to see if they are actually eligible to pay them as it pertains to the income tax.

You say that people who don't pay income taxes are moochers? Trump doesn't pay income tax. What is Trump, a patriot or a moocher?

You can't have it both ways.

The income tax does not go towards paying the day to day operations of the corporate entity that is USA.INC....that is what I am saying. The IRS is a Puerto Rican Trust #62 that is the collection arm of the IMF that took USA.INC into receivership in 1950 when it once again declared bankruptcy. We pay a tax for the privilege of using a fiat currency that is backed by nothing of an intrinsic value. The IMF, Federal Reserve, Bank For International Settlements are owned by the same oligarchs that have made us all debt slaves and beholding to them. Do you think it is ANY accident that the entire financial system is on the verge of collapse? Every country but three has a Rothschild central bank...it's a fucking fact.

The IRS is a Puerto Rican Trust #62 that is the collection arm of the IMF

Still waiting for your proof of that.

 

[flacaltenn]

Two threads merged. Minutes apart. 2nd OP probably on Page 1.

 

[Frank'sRules]

There is no evidence what so ever that Trump is a tax cheat.

He doesn't have to be a "cheat". He just has to be yet another who doesn't pay taxes and he's out of any chance of winning the White House.

His big ego and he doesn't want to show us all the money he's made, how much he is worth? What he doesn't want known is he doesn't pay any federal income taxes, like most other Americans do.

 

[Care4all]

Let's say we ALL take every tax deduction allowed....Why isit the wealthiest, making $100 million a year, can pay no taxes and a person earning $10 million a year ends up paying 28%? Why is the tax code written to allow the very wealthiest, pay the least as a percentage of their income?

the tax code, and how it is written to favor some people over others, in tax burden is where the problem lies, and NOT in marginal rates....

 

[BluesLegend]

He is cheating the American people! He is a real crook.

You lie.

 

[defcon4]

Republicans like to milk the system and let the little guys pay off the national debt. They seem to think that is somehow patriotic. Actually - it's psychotic.

Feel free to pay more taxes more than you legally owe.

Let me help you with this: what you forced to pay

 

[Frank'sRules]

He is cheating the American people! He is a real crook.

You lie.

Trump gets away with others cannot afford to. He's no patriot, just another rich guy taking advantage of the system. For most American voters that is not a winning slogan.

I pay as little as possible because I so love America? Yeah, that dog doesn't hunt.

 

[Frank'sRules]

Republicans like to milk the system and let the little guys pay off the national debt. They seem to think that is somehow patriotic. Actually - it's psychotic.

Feel free to pay more taxes more than you legally owe.

Let me help you with this: what you forced to pay

Did you think there was a free lunch? That bombers and aircraft carriers just came from magic unicorns?