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Forums - Politics Discussion - Trump's Taxes and the media

deskpro2k3 said:

Wesley Snipes went to jail for tax evasion, and Trump gets a free pass.

That's the difference between legally filing your taxes and just not paying taxes.  :p



l <---- Do you mean this glitch Gribble?  If not, I'll keep looking.  

 

 

 

 

I am on the other side of my sig....am I warm or cold?  

Marco....

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Lrdfancypants said:
bowserthedog said:

Are people actually suggesting that he should have done his taxes in a way where he had to pay more tax then he needed to?

This is what I found interesting because I don't know anyone that doesn't utilize legal deductions to lower the tax burden for either personal or business. 

If all Trump did was use the system to pay no taxes because of losses we would not have any debate.  Its never have been a big question of him using the system to not pay taxes, its him being critical of people who pay no taxes then you find out he doesn't.  Its Trump touting that he is this hugely successful businessman who is worth 6 billion dollars but seems like he is still eating huge personal losses and debt.

So what are the other ways he is avoiding paying taxes.  Does he has holdings in multiple countries and tax shelters so he can put the lion share of his income there and continue to pay nothing.  How far down the rabbit whole does Trump go to avoid paying any taxes.  Opening and closing multiple subchapter S corporations for his real estate business.  Its very interesting that this is how Trump actually do his real estate taxes and how he can hide the profits from Trump Organization and other ventures he has as he can write off all the failed real estate property as personal losses.

So when you say Trump is just doing that natural deduction we all do to pay lower taxes its really not the same with how Trump does business.  For 18 years or better he has pretty much used his real estate companies to shelter his income and use them to pay no taxes.

Not only that but in his economic plan he is looking to reducing the pass through taxes with his 15% business rate which would allow him to make even more money while paying no taxes.  Everything that Trump has done so far and his basic plans if he becomes POTUS looks like its a direct way for him to continue to exploit the system even more and I know I will not be the mark for his quest to gain the white house.



I guess he was also spending money exploring financial opportunities in Cuba, has dealings with an Iranian bank with terrorist ties, and using money that other people donated from his foundation to pay for legal settlements. I don't know how a guy with so many skeletons in the closet managed to get past the primaries.



Machiavellian said:
Lrdfancypants said:

This is what I found interesting because I don't know anyone that doesn't utilize legal deductions to lower the tax burden for either personal or business. 

If all Trump did was use the system to pay no taxes because of losses we would not have any debate.  Its never have been a big question of him using the system to not pay taxes, its him being critical of people who pay no taxes then you find out he doesn't.  Its Trump touting that he is this hugely successful businessman who is worth 6 billion dollars but seems like he is still eating huge personal losses and debt.

So what are the other ways he is avoiding paying taxes.  Does he has holdings in multiple countries and tax shelters so he can put the lion share of his income there and continue to pay nothing.  How far down the rabbit whole does Trump go to avoid paying any taxes.  Opening and closing multiple subchapter S corporations for his real estate business.  Its very interesting that this is how Trump actually do his real estate taxes and how he can hide the profits from Trump Organization and other ventures he has as he can write off all the failed real estate property as personal losses.

So when you say Trump is just doing that natural deduction we all do to pay lower taxes its really not the same with how Trump does business.  For 18 years or better he has pretty much used his real estate companies to shelter his income and use them to pay no taxes.

Not only that but in his economic plan he is looking to reducing the pass through taxes with his 15% business rate which would allow him to make even more money while paying no taxes.  Everything that Trump has done so far and his basic plans if he becomes POTUS looks like its a direct way for him to continue to exploit the system even more and I know I will not be the mark for his quest to gain the white house.

 

You're against lowering the corporate tax rate?



l <---- Do you mean this glitch Gribble?  If not, I'll keep looking.  

 

 

 

 

I am on the other side of my sig....am I warm or cold?  

Marco....

Lrdfancypants said:
Machiavellian said:

If all Trump did was use the system to pay no taxes because of losses we would not have any debate.  Its never have been a big question of him using the system to not pay taxes, its him being critical of people who pay no taxes then you find out he doesn't.  Its Trump touting that he is this hugely successful businessman who is worth 6 billion dollars but seems like he is still eating huge personal losses and debt.

So what are the other ways he is avoiding paying taxes.  Does he has holdings in multiple countries and tax shelters so he can put the lion share of his income there and continue to pay nothing.  How far down the rabbit whole does Trump go to avoid paying any taxes.  Opening and closing multiple subchapter S corporations for his real estate business.  Its very interesting that this is how Trump actually do his real estate taxes and how he can hide the profits from Trump Organization and other ventures he has as he can write off all the failed real estate property as personal losses.

So when you say Trump is just doing that natural deduction we all do to pay lower taxes its really not the same with how Trump does business.  For 18 years or better he has pretty much used his real estate companies to shelter his income and use them to pay no taxes.

Not only that but in his economic plan he is looking to reducing the pass through taxes with his 15% business rate which would allow him to make even more money while paying no taxes.  Everything that Trump has done so far and his basic plans if he becomes POTUS looks like its a direct way for him to continue to exploit the system even more and I know I will not be the mark for his quest to gain the white house.

 

You're against lowering the corporate tax rate?

I am against lowering the corporate tax rate if we also do not get rid of all the loopholes that are there that allow business to pretty much pay nothing.  Since my wife and I do run a small business, I am definitely in favor of the cut but I also am not crazy enough to believe that if there isn't a smart balance with cuts and reducing all of the other loopholes and provisions it could pretty much nuke our economy.  Unless Trump goal is to go to default like he stated so he can renegotiate the debt.



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Machiavellian said:
Lrdfancypants said:

 

You're against lowering the corporate tax rate?

I am against lowering the corporate tax rate if we also do not get rid of all the loopholes that are there that allow business to pretty much pay nothing.  Since my wife and I do run a small business, I am definitely in favor of the cut but I also am not crazy enough to believe that if there isn't a smart balance with cuts and reducing all of the other loopholes and provisions it could pretty much nuke our economy.  Unless Trump goal is to go to default like he stated so he can renegotiate the debt.

I would be in favor of a flat rate and removing them as well. I would also like a corporate rate reduction. 



l <---- Do you mean this glitch Gribble?  If not, I'll keep looking.  

 

 

 

 

I am on the other side of my sig....am I warm or cold?  

Marco....

I see several people talking about things like flat taxes and other tax-related issues, but what I'm seeing is potentially a lack of understanding of the issues.

Before I talk about what those issues are, I would like to address the point of how "47% of Americans don't pay income tax." When someone sees that, they will probably think "I pay taxes, so should the 47% because it isn't fair." However, I think what people need to realize is that the statistic applies to Federal Income Tax only, as there are other forms of tax (and income tax) out there.
(http://www.politifact.com/truth-o-meter/statements/2012/sep/18/mitt-romney/romney-says-47-percent-americans-pay-no-income-tax/) This source shows that the 47% who don't pay income tax are actually either just low-income working families or the elderly (tax breaks regarding them).
It's also not that they don't pay them, but that they get their tax dollars back from their tax returns.
"Another 30 percent got all their tax money back from the government, through mechanisms such as the Earned Income Tax Credit, which encourages low-income Americans to work by refunding money to them through the tax code." (From the linked source above)

Now to go on to the flat tax issue. People here seem to think that a flat tax is a solution to the problems we have, but don't realize that (for example) a 10-15% flat tax is simply not enough. On top of that, it disproportionately hits lower income earners. Once you change the tax code to include exemptions for lower income workers, you now no longer have a flat tax. It's flatter than it would be now, but that wont be the only issue a flat tax would come across.

The fact that we have used our current tax code for so long means that a lot of what we have established here revolve around our current system. Disrupting that system could mean some negative side effects such as the loss of jobs directly (maybe even indirectly) related to our taxes. You know, ones that deal with taxes. If it becomes a simplified tax system, the job will no longer be needed.

Of course, while there are potential benefits to a flat tax, the negatives are not "potential." So it's a lot riskier than you guys give it credit for. The fact of the matter is that people and society don't really react to changes in taxes as predicted, even if it makes sense they would.



MDMAlliance said:
I see several people talking about things like flat taxes and other tax-related issues, but what I'm seeing is potentially a lack of understanding of the issues.

Before I talk about what those issues are, I would like to address the point of how "47% of Americans don't pay income tax." When someone sees that, they will probably think "I pay taxes, so should the 47% because it isn't fair." However, I think what people need to realize is that the statistic applies to Federal Income Tax only, as there are other forms of tax (and income tax) out there.
(http://www.politifact.com/truth-o-meter/statements/2012/sep/18/mitt-romney/romney-says-47-percent-americans-pay-no-income-tax/) This source shows that the 47% who don't pay income tax are actually either just low-income working families or the elderly (tax breaks regarding them).
It's also not that they don't pay them, but that they get their tax dollars back from their tax returns.
"Another 30 percent got all their tax money back from the government, through mechanisms such as the Earned Income Tax Credit, which encourages low-income Americans to work by refunding money to them through the tax code." (From the linked source above)

Now to go on to the flat tax issue. People here seem to think that a flat tax is a solution to the problems we have, but don't realize that (for example) a 10-15% flat tax is simply not enough. On top of that, it disproportionately hits lower income earners. Once you change the tax code to include exemptions for lower income workers, you now no longer have a flat tax. It's flatter than it would be now, but that wont be the only issue a flat tax would come across.

The fact that we have used our current tax code for so long means that a lot of what we have established here revolve around our current system. Disrupting that system could mean some negative side effects such as the loss of jobs directly (maybe even indirectly) related to our taxes. You know, ones that deal with taxes. If it becomes a simplified tax system, the job will no longer be needed.

Of course, while there are potential benefits to a flat tax, the negatives are not "potential." So it's a lot riskier than you guys give it credit for. The fact of the matter is that people and society don't really react to changes in taxes as predicted, even if it makes sense they would.

Yes it's risky. 



l <---- Do you mean this glitch Gribble?  If not, I'll keep looking.  

 

 

 

 

I am on the other side of my sig....am I warm or cold?  

Marco....

Lawlight said:
So, who's allowing Trump not to pay taxes? What ruling party created those loopholes?

My understanding is that Trump wants to simplify the tax system so that you don't need an army of accountants just to pay your legally obligated amount of tax. That would remove at least one barrier between normal members of the public and giant corporations.



bunchanumbers said:
I guess he was also spending money exploring financial opportunities in Cuba, has dealings with an Iranian bank with terrorist ties, and using money that other people donated from his foundation to pay for legal settlements. I don't know how a guy with so many skeletons in the closet managed to get past the primaries.

Link?

Holy shit if true.