Political Wrinkles  

Go Back   Political Wrinkles > General Forum > Open Discussion
Register FAQDonate PW Store PW Trivia Members List Calendar Search Today's Posts Mark Forums Read

Open Discussion Discuss Trump taxes at the General Forum; Originally Posted by saltwn I realize you are proud you own a business as you mention it constantly, which is ...

Reply
 
Share LinkBack Thread Tools Display Modes
  #31 (permalink)  
Old 09-29-2020, 07:30 AM
GetAClue's Avatar
PW Enlightenment
 
Join Date: Jan 2011
Location: Northern Ohio
Gender: Male
Posts: 7,151
Thanks: 10,105
Thanked 7,434 Times in 4,245 Posts
Default Re: Trump taxes

Quote:
Originally Posted by saltwn View Post
I realize you are proud you own a business as you mention it constantly, which is fine, good on ya. But why do you think you are the only one? or that democrats don't "own" anything. . or people who disagree with you don't or haven't run businesses.
Because if they did own a business, they would not be willing to see it destroyed by over bearing taxes and regulations that Biden/Harris promise to inflict upon them.
__________________
To argue with a person who has renounced the use of reason is like administering medicine to the dead - Thomas Paine

A lie doesn't become truth, a wrong doesn't become right, and Evil doesn't become good, just because it is accepted by the majority. - Booker T Washington
Reply With Quote
The Following User Says Thank You to GetAClue For This Useful Post:
  #32 (permalink)  
Old 09-29-2020, 08:20 AM
Master
 
Join Date: Nov 2011
Location: near a california beach
Posts: 1,452
Thanks: 484
Thanked 732 Times in 546 Posts
Default Re: Trump taxes

Proves that maybe he's smarter than most people. Or maybe it proves that the tax laws favor the very wealthy?
Reply With Quote
  #33 (permalink)  
Old 09-29-2020, 08:38 AM
Constant_Slothrop's Avatar
Scholar
 
Join Date: Feb 2014
Posts: 2,344
Thanks: 7
Thanked 358 Times in 317 Posts
Default Re: Trump taxes

Quote:
Originally Posted by larryr View Post
Proves that maybe he's smarter than most people. Or maybe it proves that the tax laws favor the very wealthy?
Or maybe it simply proves that he's a really bad businessman. His businesses were losing money for years, and then he was saved by Mark Burnett's decision to cast him as a successful businessman in the Apprentice, for which he was paid hundreds of millions of dollars, which he promptly invested in a bunch of money-losing businesses. He's got $421 million in personal debt and over $1 billion in total debt (all coming due in the next few years, and with nowhere near enough revenue to pay it). People are missing the big picture by focussing only on the taxes paid and tax avoidance. The real story is the woeful picture this information paints about Trump the businessman.
Reply With Quote
  #34 (permalink)  
Old 09-29-2020, 09:34 AM
Manitou's Avatar
PW Enlightenment
 
Join Date: Mar 2011
Location: Texas
Gender: Male
Posts: 21,328
Thanks: 725
Thanked 7,096 Times in 5,075 Posts
Default Re: Trump taxes

For those wringing their hands and gnashing their teeth over Trump's taxes, here's some groups that might be helpful, but I don't know:

Oh Oh Squads'R'Us
Reply With Quote
  #35 (permalink)  
Old 09-29-2020, 09:39 AM
PW Enlightenment
 
Join Date: Apr 2013
Gender: Male
Posts: 12,723
Thanks: 10,547
Thanked 8,578 Times in 5,089 Posts
Default Re: Trump taxes

Quote:
Originally Posted by larryr View Post
Proves that maybe he's smarter than most people. Or maybe it proves that the tax laws favor the very wealthy?
50% of the population pays no taxes. 9% pays 50%. If the wealthy are fixing the tax code to favor the wealthy, they're not very good at it,
Reply With Quote
The Following 3 Users Say Thank You to jimbo For This Useful Post:
  #36 (permalink)  
Old 09-29-2020, 10:01 AM
GottaGo's Avatar
Sanity is overrated.
 
Join Date: Aug 2009
Location: Miles to go before I sleep
Posts: 13,423
Thanks: 11,741
Thanked 9,808 Times in 6,003 Posts
Default Re: Trump taxes

Quote:
Originally Posted by Constant_Slothrop View Post
Or maybe it simply proves that he's a really bad businessman. His businesses were losing money for years, and then he was saved by Mark Burnett's decision to cast him as a successful businessman in the Apprentice, for which he was paid hundreds of millions of dollars, which he promptly invested in a bunch of money-losing businesses. He's got $421 million in personal debt and over $1 billion in total debt (all coming due in the next few years, and with nowhere near enough revenue to pay it). People are missing the big picture by focussing only on the taxes paid and tax avoidance. The real story is the woeful picture this information paints about Trump the businessman.
Do you understand amortization and depreciation? Section 179? The flow through of multiple corporate entities? Do you understand quarterly estimated payments, safe harbor, and the application of estimated tax overpayments?

For a supposed attorney, you are pretty narrow channel in your refusal to understand that he is an individual at the bottom of a funnel for multiple businesses. Since he has been through multiple audits, and took advantage of a law that Obama signed off on, that what shows as 'payment due' is not the amount owed. Even NYT own article, if one is to believe it, explains how his tax liability was reduced from prior year's overpayments and use of credits.
__________________
Your life is the sum total of the choices you make.
If you don't laugh at yourself, a whole bunch of people will volunteer to do it for you
I never lose. I either win, or I learn....
Reply With Quote
  #37 (permalink)  
Old 09-29-2020, 10:10 AM
Constant_Slothrop's Avatar
Scholar
 
Join Date: Feb 2014
Posts: 2,344
Thanks: 7
Thanked 358 Times in 317 Posts
Default Re: Trump taxes

Quote:
Originally Posted by GottaGo View Post
Do you understand amortization and depreciation? Section 179? The flow through of multiple corporate entities? Do you understand quarterly estimated payments, safe harbor, and the application of estimated tax overpayments?

For a supposed attorney, you are pretty narrow channel in your refusal to understand that he is an individual at the bottom of a funnel for multiple businesses. Since he has been through multiple audits, and took advantage of a law that Obama signed off on, that what shows as 'payment due' is not the amount owed. Even NYT own article, if one is to believe it, explains how his tax liability was reduced from prior year's overpayments and use of credits.
Did you read what I wrote? As I said, the focus on the taxes paid and tax avoidance misses the bigger picture of a horribly over-leveraged business that is losing money and drowning in debt.
Reply With Quote
  #38 (permalink)  
Old 09-29-2020, 10:41 AM
Gordon Shumway's Avatar
essential worker
 
Join Date: Oct 2007
Posts: 5,083
Thanks: 2,273
Thanked 3,753 Times in 2,180 Posts
Default Re: Trump taxes

Attached Images
File Type: jpg CB141D07-FFF7-4B56-A5DE-040240EF6F54.jpg (20.8 KB, 21 views)
Reply With Quote
  #39 (permalink)  
Old 09-29-2020, 10:54 AM
GottaGo's Avatar
Sanity is overrated.
 
Join Date: Aug 2009
Location: Miles to go before I sleep
Posts: 13,423
Thanks: 11,741
Thanked 9,808 Times in 6,003 Posts
Default Re: Trump taxes

Quote:
Originally Posted by Constant_Slothrop View Post
Did you read what I wrote? As I said, the focus on the taxes paid and tax avoidance misses the bigger picture of a horribly over-leveraged business that is losing money and drowning in debt.
And did you read what I wrote. Amortization and depreciation versus Section 179.

How do you know they are 'over-leveraged'? Did you see evaluations and loan documents? Did those loans make covenants?

Asking for proof of your statements is pointless, I'm sure. After all, the NYT said so, so it must be the truth, right? I have GAAP and the IRS for my sources, how about you?
__________________
Your life is the sum total of the choices you make.
If you don't laugh at yourself, a whole bunch of people will volunteer to do it for you
I never lose. I either win, or I learn....
Reply With Quote
The Following 3 Users Say Thank You to GottaGo For This Useful Post:
  #40 (permalink)  
Old 09-29-2020, 11:02 AM
Manitou's Avatar
PW Enlightenment
 
Join Date: Mar 2011
Location: Texas
Gender: Male
Posts: 21,328
Thanks: 725
Thanked 7,096 Times in 5,075 Posts
Default Re: Trump taxes

Quote:
Originally Posted by Gordon Shumway View Post
Yes, these "taxers" are getting to be as annoying as the "birthers".
Reply With Quote
The Following User Says Thank You to Manitou For This Useful Post:
Reply

Tags
taxes, trump

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On

Forum Jump


All times are GMT -5. The time now is 03:02 AM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2021, vBulletin Solutions, Inc.

Content Relevant URLs by vBSEO 3.2.0