Trump paid less in taxes than a household that makes 20k per year

[hadit]

That’s just some nonsense you’re making up on the spot.

You asked for a reason, didn't you? That's a reason.

 

[hadit]

He paid less taxes than you did.

That's what you take away from this? You don't even bother to find out why?

 

[SC Patriot]

Let this be a lesson in tax politics. The wealthy and corporations are not “taxed enough already” because they do not pay the OFFICIAL tax rate. They pay an EFFECTIVE tax rate.

Trump paid $716 in federal taxes in 2016 and 2017. The average 20k household plays more than $800. Those making between 50k and 75k pay an average of 5k in taxes.

“Real estate offers some unique tax advantages, mainly the ability to write off depreciation against income. It’s common for a real estate investor to show a loss on their income tax return while receiving positive cash flow for the year.

Fractional real estate investors also receive similar benefits. The investment platform Arrived Homes, known for letting investors buy shares of rental properties with as little as $100, paid out $47,000 in dividends to investors in 2021, but only about $2,800 was considered taxable income. The rest was nontaxable return of principal.

That means Arrived Homes investors collectively only needed to report $2,800 in taxable income, despite receiving $47,000 in dividends. Arrived Homes has already paid out $303,000 in dividends so far in 2022 and investors will likely get another nice break come tax time next year.

Another likely reason for Trump’s low tax bills is the use of a tax loss carryforward. Companies such as The Trump Organization can carry losses over from one year to offset taxes in subsequent years. Trump used this strategy after realizing nearly $1 billion in losses in the early 1990s. He was able to carry those losses over each year until 2005.”

How Donald Trump Paid Less In Taxes Than A Household Earning Only $20,000 Per Year

Donald Trump has taken a lot of heat over the years about his income taxes or, more specifically, his ability to get out of paying what most would consider his fair share. Trump has kept a tight grip on his tax returns, becoming the first president in 40 years not to release them to the public...

finance.yahoo.com

Those making 20K a year do not pay federal income taxes so right off the bat your post is useless.

Trumps corporations pay hundreds of thousands in payroll taxes per year.

Trumps holding company did not have a reason to pay income tax. It is a holding company with no revenue and any income it takes in was already taxed. It is a holding company. Much like a manifold. It diffuses the cash to the sub companies when needed.

You people are so jaded you don't even bother to seek the truth.

You simply jerk off to Rachel Maddow and then spew whatever she squirts in your brain.

You are all pathetic.

 

[Cellblock2429]

Let this be a lesson in tax politics. The wealthy and corporations are not “taxed enough already” because they do not pay the OFFICIAL tax rate. They pay an EFFECTIVE tax rate.

Trump paid $716 in federal taxes in 2016 and 2017. The average 20k household plays more than $800. Those making between 50k and 75k pay an average of 5k in taxes.

“Real estate offers some unique tax advantages, mainly the ability to write off depreciation against income. It’s common for a real estate investor to show a loss on their income tax return while receiving positive cash flow for the year.

Fractional real estate investors also receive similar benefits. The investment platform Arrived Homes, known for letting investors buy shares of rental properties with as little as $100, paid out $47,000 in dividends to investors in 2021, but only about $2,800 was considered taxable income. The rest was nontaxable return of principal.

That means Arrived Homes investors collectively only needed to report $2,800 in taxable income, despite receiving $47,000 in dividends. Arrived Homes has already paid out $303,000 in dividends so far in 2022 and investors will likely get another nice break come tax time next year.

Another likely reason for Trump’s low tax bills is the use of a tax loss carryforward. Companies such as The Trump Organization can carry losses over from one year to offset taxes in subsequent years. Trump used this strategy after realizing nearly $1 billion in losses in the early 1990s. He was able to carry those losses over each year until 2005.”

How Donald Trump Paid Less In Taxes Than A Household Earning Only $20,000 Per Year

Donald Trump has taken a lot of heat over the years about his income taxes or, more specifically, his ability to get out of paying what most would consider his fair share. Trump has kept a tight grip on his tax returns, becoming the first president in 40 years not to release them to the public...

finance.yahoo.com

/——-/ democRATs scream about the rich being under taxed, make illogical comparisons to low income people——BUT THE DEMOCRATS ARE THE ONES WHO WROTE MOST OF THE TAX LAWS THAT ALLOW DEPRECIATION AND WRITE OFFS.

 

[Dr.Know]

Let this be a lesson in tax politics. The wealthy and corporations are not “taxed enough already” because they do not pay the OFFICIAL tax rate. They pay an EFFECTIVE tax rate.

Trump paid $716 in federal taxes in 2016 and 2017. The average 20k household plays more than $800. Those making between 50k and 75k pay an average of 5k in taxes.

“Real estate offers some unique tax advantages, mainly the ability to write off depreciation against income. It’s common for a real estate investor to show a loss on their income tax return while receiving positive cash flow for the year.

Fractional real estate investors also receive similar benefits. The investment platform Arrived Homes, known for letting investors buy shares of rental properties with as little as $100, paid out $47,000 in dividends to investors in 2021, but only about $2,800 was considered taxable income. The rest was nontaxable return of principal.

That means Arrived Homes investors collectively only needed to report $2,800 in taxable income, despite receiving $47,000 in dividends. Arrived Homes has already paid out $303,000 in dividends so far in 2022 and investors will likely get another nice break come tax time next year.

Another likely reason for Trump’s low tax bills is the use of a tax loss carryforward. Companies such as The Trump Organization can carry losses over from one year to offset taxes in subsequent years. Trump used this strategy after realizing nearly $1 billion in losses in the early 1990s. He was able to carry those losses over each year until 2005.”

How Donald Trump Paid Less In Taxes Than A Household Earning Only $20,000 Per Year

Donald Trump has taken a lot of heat over the years about his income taxes or, more specifically, his ability to get out of paying what most would consider his fair share. Trump has kept a tight grip on his tax returns, becoming the first president in 40 years not to release them to the public...

finance.yahoo.com

Most rich people pay Zero taxes SO FXCKING WHAT !...THEY PROVIDE CORPORATE JOBS. If you taxed the Rich at 50%, the amt of money would not make a significant dent in Government Spending.

 

[Blues Man]

A single person making 20k a year doesnt pay anything in FICA. The only thing they would have to pay is SS or Medicare taxes. Trump wouldn't pay those as he likely didn't take any income, because he doesn't need an income, and would have to pay taxes on that money unnecessarily if he did. Didn't he say as much in his debates with Hillary when this subject was brought up?



He says in that video that he takes full advantage of the loopholes in the tax code. Who the heck doesn't? Are you writing checks to the IRS for money you dont have to pay? Is Bernie Sanders? Is AOC? Are any of the other so called democratic socialists who think the "rich don't pay enough"? All of them are by any metric rich and yet every year they remain so, I assume because they aren't turning all that extra wealth over to the Government to dole out to those less fortunate than themselves.

Social Security and Medicare are part of the FICA taxes.

The Federal Insurance Contributions Act (FICA) is a federal law that requires employers to withhold three different types of employment taxes from their employee’s paychecks. These taxes include 12.4 percent of compensation in Social Security taxes and 2.9 percent of salary in Medicare taxes, totaling 15.3 percent of each paycheck. Additionally, employers must withhold 0.9 percent of wages in a Medicare surtax for certain high-paid employees.

 

[Blues Man]

No. The entire point is wealth relative to the taxes paid. If I as a middle class worker is paying substantially more in taxes than Trump because he desperately takes advantages of loopholes that are exclusive to his class then it’s a problem.

Being a business owner isn't a "class".

 

[hadit]

/——-/ democRATs scream about the rich being under taxed, make illogical comparisons to low income people——BUT THE DEMOCRATS ARE THE ONES WHO WROTE MIST OF THE TAX LAWS THAT ALLOW DEPRECIATION AND WRITE OFFS.

We certainly didn't see them making any effort to rewrite the tax code when they had total control. Now, of course, they'll whine and complain that the big bad evil Wepubwicans are stopping them from doing it.

 

[Couchpotato]

Social Security and Medicare are part of the FICA taxes.

The Federal Insurance Contributions Act (FICA) is a federal law that requires employers to withhold three different types of employment taxes from their employee’s paychecks. These taxes include 12.4 percent of compensation in Social Security taxes and 2.9 percent of salary in Medicare taxes, totaling 15.3 percent of each paycheck. Additionally, employers must withhold 0.9 percent of wages in a Medicare surtax for certain high-paid employees.

They arent what people typically think of as income taxes though are they?

 

[Blues Man]

They arent what people typically think of as income taxes though are they?

They are income taxes although they are only applied to W2 reported income not all income. If you have no income you pay no FICA taxes.

 

[Cellblock2429]

Most rich people pay Zero taxes SO FXCKING WHAT !...THEY PROVIDE CORPORATE JOBS. If you taxed the Rich at 50%, the amt of money would not make a significant dent in Government Spending.

/----/ Libs never discuss cutting spending - only higher taxes.

 

[hadit]

/----/ Libs never discuss cutting spending - only higher taxes.

They consistently ignore the reality that when Congress is given more revenue, they'll spend more than the increase.

 

[Billy000]

They consistently ignore the reality that when Congress is given more revenue, they'll spend more than the increase.

Lol even if that were true, it obviously still doesn’t make sense to cut revenue if it blows up the deficit.

 

[BS Filter]

His businesses had income. He had income from being President. He gave nothing to charity.

Yes,, his business had income, but he wasn't active in his business. That's the law. He gave his Presidential salary away. FACT. Check it out.

Trump May Have Donated His $1.6M Salary To Federal Agencies

Donald Trump initially said he would refuse to take a salary as president.

www.ibtimes.com

 

[hadit]

Lol even if that were true, it obviously still doesn’t make sense to cut revenue if it blows up the deficit.

1. Keep taking more money out of the economy to pay for ever increasing amounts up to the deficit.
2. Take less money out of the economy and force the government to not spend as much.

We know that either way the congresscritters are going to spend more than they have available. The question is, do we give them less so they spend less or allow them to take more and spend more?

 

[bripat9643]

Lol even if that were true, it obviously still doesn’t make sense to cut revenue if it blows up the deficit.

Spendthrift congressmen blow up the deficit, not the lack of revenue.

 

[bripat9643]

He paid less taxes than you did.

He earned less in those years as well, dumbass.

 

[Batcat]

Let this be a lesson in tax politics. The wealthy and corporations are not “taxed enough already” because they do not pay the OFFICIAL tax rate. They pay an EFFECTIVE tax rate.

Trump paid $716 in federal taxes in 2016 and 2017. The average 20k household plays more than $800. Those making between 50k and 75k pay an average of 5k in taxes.

“Real estate offers some unique tax advantages, mainly the ability to write off depreciation against income. It’s common for a real estate investor to show a loss on their income tax return while receiving positive cash flow for the year.

Fractional real estate investors also receive similar benefits. The investment platform Arrived Homes, known for letting investors buy shares of rental properties with as little as $100, paid out $47,000 in dividends to investors in 2021, but only about $2,800 was considered taxable income. The rest was nontaxable return of principal.

That means Arrived Homes investors collectively only needed to report $2,800 in taxable income, despite receiving $47,000 in dividends. Arrived Homes has already paid out $303,000 in dividends so far in 2022 and investors will likely get another nice break come tax time next year.

Another likely reason for Trump’s low tax bills is the use of a tax loss carryforward. Companies such as The Trump Organization can carry losses over from one year to offset taxes in subsequent years. Trump used this strategy after realizing nearly $1 billion in losses in the early 1990s. He was able to carry those losses over each year until 2005.”

How Donald Trump Paid Less In Taxes Than A Household Earning Only $20,000 Per Year

Donald Trump has taken a lot of heat over the years about his income taxes or, more specifically, his ability to get out of paying what most would consider his fair share. Trump has kept a tight grip on his tax returns, becoming the first president in 40 years not to release them to the public...

finance.yahoo.com

We elect people who make tax laws or run the bureaucracy that does.

Rich people like nice little loopholes that enable them to pay less taxes. Often they donate large sums of money to politicians who create such loopholes.

I try to take full advantage of tax deductions available to me and am not surprised that really rich people do the same.

if Trump didn’t pay a large sum of taxes but everything he claimed was legal than blame the system, not Trump.

Tax Loopholes That Mainly Benefit The Rich

The tax code contains many tax loopholes that disproportionately benefit the rich -- at everyone else's expense. Learn more about taxes at Bankrate.com.

www.bankrate.com

Democrats’ “tax loophole” hypocrisy on display - Shift Washington

Democrats often grumble over tax exemptions, calling them “tax loopholes” and blaming Republicans for creating them and/or not closing them. Of course, as is so often the case, the Democrats version of the truth is not, well, the actual truth. Since 2005, 140 bills relating to tax incentives...

shiftwa.org

How Richest People Of The World Avoid Paying Taxes?

There are nearly billionaires in the world but do they pay millions in tax? No. But how do they avoid paying tax? Find out.

startuptalky.com

 

[Billy000]

1. Keep taking more money out of the economy to pay for ever increasing amounts up to the deficit.
2. Take less money out of the economy and force the government to not spend as much.

We know that either way the congresscritters are going to spend more than they have available. The question is, do we give them less so they spend less or allow them to take more and spend more?

1) The reason why democrats push for more tax legislation is because it counters republican legislation cutting revenue.
2) Republicans don’t do this lol. They cut revenue but don’t actually cut the spending necessary to even balance it out. You do know republicans love defense spending right? That’s why the deficit blows up under republicans.

 

[bripat9643]

1) The reason why democrats push for more tax legislation is because it counters republican legislation cutting revenue.

Yeah, we know government parasites want more of our money. Tell us something we don't already know.

2) Republicans don’t do this lol. They cut revenue but don’t actually cut the spending necessary to even balance it out. You do know republicans love defense spending right? That’s why the deficit blows up under republicans.

What you mean is that Democrats don't allow spending to be cut. When have Democrats ever submitted a bill that cut spending?