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News & Current Events Discuss Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes for at the General Forum; You know there's something Trump could do to end all of this, release his tax returns. The loss was so ...

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Old 10-01-2016, 11:33 PM
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Default Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes for

You know there's something Trump could do to end all of this, release his tax returns.

The loss was so large, the computer program couldn't handle the 9-digit dollar entry so the tax preparer had to use a typewriter to add the first 2 digits. And not just any year, 1995, when the economy was booming. And he did it running casinos. A business where the entire enterprise is rooted in the concept that the house always wins.

But, don't worry, he's a business genius, because he says so. He's such a patriot he doesn't pay taxes to fund our military or veteran care or infrastructure or education, and such a great businessman that he lost nearly a billion dollars running casinos, in ONE year. Can't imagine what he'll do for America.

October surprise?

Quote:
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 that tax rules 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.

Although Mr. Trump’s taxable income in subsequent years is as yet unknown, a $916 million loss in 1995 would have been large enough to wipe out more than $50 million a year in taxable income over 18 years.

The $916 million loss certainly could have eliminated any federal income taxes Mr. Trump otherwise would have owed on the $50,000 to $100,000 he was paid for each episode of “The Apprentice,” or the roughly $45 million he was paid between 1995 and 2009 when he was chairman or chief executive of the publicly traded company he created to assume ownership of his troubled Atlantic City casinos. Ordinary investors in the new company, meanwhile, saw the value of their shares plunge to 17 cents from $35.50, while scores of contractors went unpaid for work on Mr. Trump’s casinos and casino bondholders received pennies on the dollar.

“He has a vast benefit from his destruction” in the early 1990s, said one of the experts, Joel Rosenfeld, an assistant professor at New York University’s Schack Institute of Real Estate. Mr. Rosenfeld offered this description of what he would advise a client who came to him with a tax return like Mr. Trump’s: “Do you realize you can create $916 million in income without paying a nickel in taxes?”

Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss.

“Mr. Trump is a highly-skilled businessman who has a fiduciary responsibility to his business, his family and his employees to pay no more tax than legally required,” the statement said. “That being said, Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes.”

The statement continued, “Mr. Trump knows the tax code far better than anyone who has ever run for President and he is the only one that knows how to fix it.”

Read more @:

http://www.nytimes.com/2016/10/02/us...ump-taxes.html
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Old 10-01-2016, 11:53 PM
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Default Re: Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes

yeah don't pay taxes then gripe the top tier pay too much
mule logic
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Old 10-02-2016, 12:01 AM
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Default Re: Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes

Quote:
The statement continued, “Mr. Trump knows the tax code far better than anyone who has ever run for President and he is the only one that knows how to fix it.”
We know how Trump proposes to "fix" the tax codes based upon his tax proposal.

Regular Americans working daily that can barely put food on the table would see an increase in after tax revenue starting at below 1% (0.6%) while, at the other end according to the conservative Tax Foundation:

Quote:
Taxpayers with incomes that fall in the highest income class (the 90-100 percent decile) would see an increase in after-tax income of 14.6 percent. The top 1 percent of all taxpayers would see a 21.6 percent increase in after-tax income.

On a dynamic basis... The top 1 percent of all taxpayers would see an increase in after-tax AGI of 27.0 percent.
The poor will still struggle to put food on the table while the super-wealthy, already driving a new Maserati and traveling in their private jets, like (like someone we know) will be able to purchase even better looking "Trophy Wives" (remember Trump's advice to never give her any financial assets like real diamonds or valuable art work) while also being able to afford a new sexy young mistress on the weekend with this massive financial windfall from Trump's tax plan.

Yep, Trump knows how to fix the tax codes to make the super-wealthy even richer while the rest of America is left to starve. Did we mention the best part?

Quote:
Overall, the plan would reduce federal revenue on a static basis by $11.98 trillion over the next ten years.
So not only does it provide a massive windfall financial benefit to the Top 1% it also slashes the federal revenue by almost $12 trillion so that federal expenditures will have to be funded by an additional $12 in borrowing (not including the massive spending to build the Great Wall of America that would be about as effective as the Great Wall of China that never prevented Mongol hordes from invading China).

Yep, Trump is one hell of a business man. He can do the same thing for America that he did for his investors that purchased about $650 million worth of his corporate bonds for the Taj Mahal that promised 14% interest that Trump never paid because he bankrupted the casino instead. Trump has it planned. Drive America $12 trillion into more debt and then bankrupt America because we won't be able to pay the interest on the debt.

What a wonderful plan.

http://taxfoundation.org/article/det...ump-s-tax-plan
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Old 10-02-2016, 07:35 AM
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Default Re: Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes

What laws did Trump break?

Ones that the Democrats helped write?

Hillary on the other hand broke the laws of her office.

You are showing desperation here!

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Old 10-02-2016, 12:03 PM
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Default Re: Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes

Anyone that legally uses the system to make themselves more money or prevent a financial loss, is extremely smart.

We need a POTUS who can do the same for the US.
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Old 10-02-2016, 01:46 PM
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Default Re: Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes

Quote:
Originally Posted by WallyWager View Post
You know there's something Trump could do to end all of this, release his tax returns.

The loss was so large, the computer program couldn't handle the 9-digit dollar entry so the tax preparer had to use a typewriter to add the first 2 digits. And not just any year, 1995, when the economy was booming. And he did it running casinos. A business where the entire enterprise is rooted in the concept that the house always wins.

But, don't worry, he's a business genius, because he says so. He's such a patriot he doesn't pay taxes to fund our military or veteran care or infrastructure or education, and such a great businessman that he lost nearly a billion dollars running casinos, in ONE year. Can't imagine what he'll do for America.

October surprise?
You do realize do you not that 1995 is 21 years ago?

Is the left so our ammunition that they must dredge up this type of news.
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Old 10-02-2016, 02:15 PM
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Default Re: Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes

Quote:
Originally Posted by jimbo View Post
You do realize do you not that 1995 is 21 years ago?

Is the left so our ammunition that they must dredge up this type of news.
In 1967, Trump left the restroom without washing his hands...

Totally unfit...
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Old 10-02-2016, 03:06 PM
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Default Re: Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes

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Originally Posted by cnredd View Post
In 1967, Trump left the restroom without washing his hands...

Totally unfit...
And left the seat up. So he must be against women and sanitation and health.
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Old 10-02-2016, 03:09 PM
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Default Re: Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes

Quote:
Originally Posted by 300 H and H View Post
What laws did Trump break?

Ones that the Democrats helped write?

Hillary on the other hand broke the laws of her office.
This focus on Trump's tax returns is just a distraction to prevent their gullible supporters from noticing the trail of dead bodies by the Clintons and sexual assaults by Bill. Murder and rape are certainly a lot more serious than taxes, but I guess not if you're a Democrat.
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Old 10-02-2016, 05:08 PM
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Default Re: Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes

Of course the NYT's did the same thing in 2014, but the lefties here wet their pants thinking Trump did something no one else ever did.

The New York Times Paid No Taxes in 2014 - Breitbart
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