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

[hadit]

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.

We know that congresscritters depend on spending promises to get elected. The democrats could easily rewrite the tax code to simply eliminate nearly every deduction except for a rather high personal deduction and make the entire thing fit on less than 5 pages, but they will never do that because it's too easy and takes away one of their most used tools, the ability to craft legislation benefitting their wealthy donors. And I do have to wonder why the left always has a fit about defense spending when it's explicitly required in the Constitution while social spending is not.

 

[hadit]

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

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

They even go so far as to weep, whine and wail when they project a big increase and get a slightly smaller one. They'll call an increase a draconian cut.

 

[boedicca]

Trump filed taxes in compliance with what Congress put in place.

Good for him!

 

[Cellblock2429]

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

/——/ And they quickly blame President Trump for signing bloated spending bills as if he wanted to. They blame him for the massive debt, while ignoring Dementia Joe for doing the exact same thing.
You have to wonder what their motivation really is.

 

[Billy000]

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

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

You have no idea how welfare spending even breaks down and what it is used for. You’re basically pretending an 80 billion program like SNAP is half the national budget or something lol

Why would democrats be opposed to cutting spending no matter what 100% of the time? What incentive is there for them to do that? How can I even put forth examples of this if spending bills do different things different years? I would need to compare the spending law for 2023 in comparison to the 2022 one. BOTH parties approve those bills anyway lol What conclusions can be drawn from that? You show me. Show me how they compare.

 

[bripat9643]

We know that congresscritters depend on spending promises to get elected. The democrats could easily rewrite the tax code to simply eliminate nearly every deduction except for a rather high personal deduction and make the entire thing fit on less than 5 pages, but they will never do that because it's too easy and takes away one of their most used tools, the ability to craft legislation benefitting their wealthy donors. And I do have to wonder why the left always has a fit about defense spending when it's explicitly required in the Constitution while social spending is not.

They did do it once during the Reagan administration, but they immediately proceeded to add innumerable deductions and income brackets to the code.

 

[Billo_Really]

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

That POS needs to go to jail!

 

[bripat9643]

They even go so far as to weep, whine and wail when they project a big increase and get a slightly smaller one. They'll call an increase a draconian cut.

Dems have never supported a cut in any program that wasn't defense related.

 

[bripat9643]

That POS needs to go to jail!

For what, following the law?

 

[hadit]

They did do it once during the Reagan administration, but they immediately proceeded to add innumerable deductions and income brackets to the code.

That's something they consistently ignore to this day. The only rhetoric from them is how horrible it was that Reagan cut taxes. They refuse to acknowledge that he cut a lot of deductions at the same time.

 

[Billo_Really]

For what, following the law?

Nor according to the 4, count'em, 4 criminal referrals!

 

[hadit]

For what, following the law?

That is the latest from the left. They no longer care if someone broke a law, they just want blood. In fact, they would be happiest if they never had to sit through a trial again, just point at someone who got their feelz in a twist and demand that they be sent straight to prison.

 

[hadit]

Nor according to the 4, count'em, 4 criminal referrals!

Nobody gets sent to prison for referrals.

 

[nomadic5]

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.

This is a DAMN lie.

Those only making $20K a year do not pay federal taxes (unless the dumbass in chief just changed that? I doubt it)

And get this, Trump-hater-for-no-valid-reason:

Trump also had FAR more expenses than most Americans, far more people on his payroll, not to mention business losses.

But in any case, you are LYING here because people making $20K a year do not pay federal taxes.

 

[Billo_Really]

Nobody gets sent to prison for referrals.

Patience is a virtue.

 

[hadit]

Patience is a virtue.

Well, you've been waiting for 6 years now, so okay. Just don't get your hopes up too far, because we've all heard this before, many times.

 

[nomadic5]

FYI

LIE alert!

People making $20K a year do not pay federal taxes.

 

[bripat9643]

That's something they consistently ignore to this day. The only rhetoric from them is how horrible it was that Reagan cut taxes. They refuse to acknowledge that he cut a lot of deductions at the same time.

I always howl when these morons attack Republicans for deficits.

 

[bripat9643]

Nor according to the 4, count'em, 4 criminal referrals!

Meaningless. When you have some convictions, perhaps someone will give a shit.

 

[Zincwarrior]

No charity, paid less taxes than you.

Trump filed taxes in compliance with what Congress put in place.

Good for him!

He still paid less taxes than you did, putting to the grave the bullshit argument about the wealthy paying all the taxes.