Trump Paid Just $750 taxes in 2016 and 2017 !

[mindrust]

Trump might be a thief and a very skillful one but do you know what he also stole?

He has stolen people's hearts.

So what if he didn't pay his taxes? Regardless of that taxation is being theft, if IRS can't find anything on Trump, why do we talk about it anyway?

As you all know, IRS is above everyone else in USA.

Did Trump skillfully evade paying taxes? Then it means he is smart. You should too. If you can't, you are not smart enough.

Why is google and other big tech companies have their HQ's in Ireland? You think Is it because they like the Irish booze?

Wow... while the other citizens are so afraid of the IRS, he doesn't pay anything even though he is one of the richest in the US if not the most.

Imagine all those minimum wage workers and middle class they pay half of their shit every year and then this happens.

Ignore my post above.

Trump will win again. Biden sucked so much last night.

[JollyGood]

As truth is a truth regardless of when it is revealed. There could be ulterior motives to release these tax documents so close to the Presidential elections and just before the first of three television debates but it is still a concern. Nobody can be sure if the news will affect a chance Trump has of being re-elected but what cannot be denied is that Biden needs to capitalise on it otherwise it will be a failing on his part.

I wont be choosing side for USA presidency, I just wonder why the revelation is coming out now that the election is close, especially from dailies that had always been against him. I am expecting  response from the Presidency soon as campaign is ongoing. If the Tax news is true he might struggle to defend it but will it cost him the election? Partisanship is everywhere and it might play a long way in the choice of leader.

[Spendulus]

As truth is a truth regardless of when it is revealed. ....

And the selective release of parts of documents, creating a false impression with purpose and malice, is called "lying by omission."

[BADecker]

You guys have this thing all backwards. Here's what I mean.

It's difficult to balance your income for taxation, if you have many income streams like Trump does. The difficulty for Trump is to show some tax for popularity purposes.

Trump didn't have to pay any taxes at all. Done the right way, he might have even been able to get money back from the IRS. But if he did it this way, what would the people say then? So, he had to pay some taxes just to make it look good in front of the people.

Why didn't he pay a little more, say, like $20,000? Because twisting IRS language to open himself up to a $20,000 tax range, would have pushed him into, possibly, a $20,000,000 tax category.

The $750 area was the best he could do, to show that he paid taxes... and yet wouldn't have to pay enormously higher taxes.

In other words, the amount Trump paid was for political show. He didn't have to pay anything.

[JollyGood]

I do not think Biden performed that badly, I mean Trump was not exactly great either. Maybe Biden will fare better in the second live debate but that also gives an opportunity for Trump to get prepared for part 2 as well. I hope they remain civil next time rather than talk over each other.

As for the whole tax issue, many people will disconnect with Trump if someone with that sort of wealth is paying less tax in a fiscal year than the average school teacher pays. If he has nothing wrong then so be it but if he has swindled the US government out of millions in taxes or if he owes any of that $400 million in loans to people that might be able to influence his decision making process while he is President then it will come back to haunt him as the truth will always out.

What Trump did might or might not be classed as smart, it depends on what happens in the coming days when he/if he releases his tax returns

Trump might be a thief and a very skillful one but do you know what he also stole?

He has stolen people's hearts.

So what if he didn't pay his taxes? Regardless of that taxation is being theft, if IRS can't find anything on Trump, why do we talk about it anyway?

As you all know, IRS is above everyone else in USA.

Did Trump skillfully evade paying taxes? Then it means he is smart. You should too. If you can't, you are not smart enough.

Why is google and other big tech companies have their HQ's in Ireland? You think Is it because they like the Irish booze?

Wow... while the other citizens are so afraid of the IRS, he doesn't pay anything even though he is one of the richest in the US if not the most.

Imagine all those minimum wage workers and middle class they pay half of their shit every year and then this happens.

Ignore my post above.

Trump will win again. Biden sucked so much last night.

[Spendulus]

...

What Trump did might or might not be classed as smart, it depends on what happens in the coming days when he/if he releases his tax returns
....

That's completely, totally meaningless in the presence of an ongoing, non-resolved, not-finalized tax audit.

The very meaning of the audit is that the numbers are not settled.

Duh....

[TwitchySeal]

...

What Trump did might or might not be classed as smart, it depends on what happens in the coming days when he/if he releases his tax returns
....

That's completely, totally meaningless in the presence of an ongoing, non-resolved, not-finalized tax audit.

The very meaning of the audit is that the numbers are not settled.

Duh....

An audit occurs after you've filed your taxes.  It's basically just the IRS double checking to make sure everything is accurate.

[Spendulus]

...

What Trump did might or might not be classed as smart, it depends on what happens in the coming days when he/if he releases his tax returns
....

That's completely, totally meaningless in the presence of an ongoing, non-resolved, not-finalized tax audit.

The very meaning of the audit is that the numbers are not settled.

Duh....

An audit occurs after you've filed your taxes.  It's basically just the IRS double checking to make sure everything is accurate.

An example of an area of dispute between hotel/casino owners and the IRS is how remodeling is handled. This gets very intricate and complicated. There is a real world need to renew interiors periodically, let's say every 5-10 years. The standard IRS depreciation for most things on commercial buildings is 35 years.

A developer tears out a section of a casino that held a restaurant and puts something different in, still a restaurant. He is on the 7th year of 35 years depreciation on 3M costs, and has 80% deductions left (3M*.80=2.4m). The new buildout costs him 4M, of which he classifies 1M as equipment. Ice machines, tables, chairs, rolling buffet carts, and he assigns that fraction to a 5year depreciation schedule. He calculates first year depreciation at (3m/35 + 1m/5 + salvage). The IRS argues it is 4M/35 plus salvage.

Developer = 85,714+200,000 = 285,714
IRS = 114,285

The amount at dispute is 171,428.

Salvage value in both cases is 28/35 * 3M = 2,400,000. It would not be disputed by the IRS ... usually.

Multiply that single issue by about 100 and you've got an idea of ONE ASPECT of the complexity of billion dollar real estate dominant tax returns.

A lot of these issues were clarified and simplified in the Trump tax reform legislation. It's not perfect but a lot better than the previous. My example is of an issue prior.

[JollyGood]

There is absolutely nothing stopping anybody releasing their tax returns while the audit with the IRS is going on.

Trump claimed he will release his tax returns after the audit is complete but whether the audit is complete or not Trump has copies of the returns he filed, he should publish them.

That's completely, totally meaningless in the presence of an ongoing, non-resolved, not-finalized tax audit.

The very meaning of the audit is that the numbers are not settled.

Duh....

An audit occurs after you've filed your taxes.  It's basically just the IRS double checking to make sure everything is accurate.

[Spendulus]

There is absolutely nothing stopping anybody releasing their tax returns while the audit with the IRS is going on.
....

Yeah, that's you trying to push someone else into doing something.

You can ask nicely.

Naw, leftists would rather sue to get them, or outright steal them.

[TwitchySeal]

There is absolutely nothing stopping anybody releasing their tax returns while the audit with the IRS is going on.
....

Yeah, that's you trying to push someone else into doing something.

You can ask nicely.

Naw, leftists would rather sue to get them, or outright steal them.

Ah, you don't approve of the democrats not being nice and filing so many lawsuits.  Makes sense that you found a home in the Trump cult.

[Spendulus]

There is absolutely nothing stopping anybody releasing their tax returns while the audit with the IRS is going on.
....

Yeah, that's you trying to push someone else into doing something.

You can ask nicely.

Naw, leftists would rather sue to get them, or outright steal them.

Ah, you don't approve of the democrats not being nice and filing so many lawsuits.  Makes sense that you found a home in the Trump cult.

There's really not much to be proud of in the behavior of the corrupt political and power system we loosely refer to as "the Democrats" for the last four years.

Perhaps there were times when the Republicans were similarly corrupt and the Democrats were not, and perhaps there were times when both were, or neither was.

We'd have to EXCLUDE all the historical decades when the Democrats were the party of slavery, the KKK, and of white supremacy. We'd also certainly have to exclude the Obama years, when Chicago style corruption was brought to Washington.

That leaves a period from about 1960 to 2008 for consideration.

[TwitchySeal]

There is absolutely nothing stopping anybody releasing their tax returns while the audit with the IRS is going on.
....

Yeah, that's you trying to push someone else into doing something.

You can ask nicely.

Naw, leftists would rather sue to get them, or outright steal them.

Ah, you don't approve of the democrats not being nice and filing so many lawsuits.  Makes sense that you found a home in the Trump cult.

There's really not much to be proud of in the behavior of the corrupt political and power system we loosely refer to as "the Democrats" for the last four years.

Perhaps there were times when the Republicans were similarly corrupt and the Democrats were not, and perhaps there were times when both were, or neither was.

We'd have to EXCLUDE all the historical decades when the Democrats were the party of slavery, the KKK, and of white supremacy. We'd also certainly have to exclude the Obama years, when Chicago style corruption was brought to Washington.

That leaves a period from about 1960 to 2008 for consideration.

Both parties have evolved since the time when Republicans were the progressive party that represented more cities, fought for the rights of immigrants and minorities and was mostly in the North.

Luckily not all Republicans are accepting what has become of the GOP since becoming the party of Trump: one example

[Spendulus]

There is absolutely nothing stopping anybody releasing their tax returns while the audit with the IRS is going on.
....

Yeah, that's you trying to push someone else into doing something.

You can ask nicely.

Naw, leftists would rather sue to get them, or outright steal them.

Ah, you don't approve of the democrats not being nice and filing so many lawsuits.  Makes sense that you found a home in the Trump cult.

There's really not much to be proud of in the behavior of the corrupt political and power system we loosely refer to as "the Democrats" for the last four years.

Perhaps there were times when the Republicans were similarly corrupt and the Democrats were not, and perhaps there were times when both were, or neither was.

We'd have to EXCLUDE all the historical decades when the Democrats were the party of slavery, the KKK, and of white supremacy. We'd also certainly have to exclude the Obama years, when Chicago style corruption was brought to Washington.

That leaves a period from about 1960 to 2008 for consideration.

Both parties have evolved since the time when Republicans were the progressive party that represented more cities, fought for the rights of immigrants and minorities and was mostly in the North.
.....

Sorry, I made a mistake. We'll have to exclude the time your Demo party had its beloved longest serving member, Robert Byrd, member of the KKK.

When Byrd died in 2010, he had served in the Senate longer than anyone else; the New York Times described him as "a pillar of Capitol Hill." In a statement, then-President Barack Obama called him "a voice of principle and reason." Biden said Byrd was "a dear friend."

In West Virginia in the 1940s — late 1941 or early 1942, according to Byrd’s memoir — he organized and led a 150-member chapter, or "Klavern," of the Klan as the "Exalted Cyclops." In Klan hierarchy, according to Slate, each Klavern is led by an Exalted Cyclops typically elected by his fellow Klansmen. The Exalted Cyclops reports to a "Grand Giant" (provincial leader), "Grand Dragon" (state director) and "Grand Wizard" (national chair).

https://www.politifact.com/factchecks/2019/aug/15/viral-image/robert-byrd-wasnt-grand-wizard-kkk-he-once-led-loc/

1960 to 2008 but Byrd died in 2010?

I guess that leaves you and your party with no good years? Certainly no years in which you can proudly pontificate as a moral authority.

[TwitchySeal]

There is absolutely nothing stopping anybody releasing their tax returns while the audit with the IRS is going on.
....

Yeah, that's you trying to push someone else into doing something.

You can ask nicely.

Naw, leftists would rather sue to get them, or outright steal them.

Ah, you don't approve of the democrats not being nice and filing so many lawsuits.  Makes sense that you found a home in the Trump cult.

There's really not much to be proud of in the behavior of the corrupt political and power system we loosely refer to as "the Democrats" for the last four years.

Perhaps there were times when the Republicans were similarly corrupt and the Democrats were not, and perhaps there were times when both were, or neither was.

We'd have to EXCLUDE all the historical decades when the Democrats were the party of slavery, the KKK, and of white supremacy. We'd also certainly have to exclude the Obama years, when Chicago style corruption was brought to Washington.

That leaves a period from about 1960 to 2008 for consideration.

Both parties have evolved since the time when Republicans were the progressive party that represented more cities, fought for the rights of immigrants and minorities and was mostly in the North.
.....

Sorry, I made a mistake. We'll have to exclude the time your Demo party had its beloved longest serving member, Robert Byrd, member of the KKK.

When Byrd died in 2010, he had served in the Senate longer than anyone else; the New York Times described him as "a pillar of Capitol Hill." In a statement, then-President Barack Obama called him "a voice of principle and reason." Biden said Byrd was "a dear friend."

In West Virginia in the 1940s — late 1941 or early 1942, according to Byrd’s memoir — he organized and led a 150-member chapter, or "Klavern," of the Klan as the "Exalted Cyclops." In Klan hierarchy, according to Slate, each Klavern is led by an Exalted Cyclops typically elected by his fellow Klansmen. The Exalted Cyclops reports to a "Grand Giant" (provincial leader), "Grand Dragon" (state director) and "Grand Wizard" (national chair).

https://www.politifact.com/factchecks/2019/aug/15/viral-image/robert-byrd-wasnt-grand-wizard-kkk-he-once-led-loc/

1960 to 2008 but Byrd died in 2010?

I guess that leaves you and your party with no good years? Certainly no years in which you can proudly pontificate as a moral authority.

All from the link you provided:

In the 1940s Byrd was in the Klan.

He "then spent decades apologizing for what he called a ‘sad mistake".

In his 2005 memoir he wrote "It has emerged throughout my life to haunt and embarrass me and has taught me in a very graphic way what one major mistake can do to one’s life, career, and reputation,"


So your conclusion is that, since Bird died in 2010 - the democratic party shared ideals with the Klan until 2010.

Quite a stretch, even for you - the guy who attacked me for calling someone racist who was openly recruiting for the KKK and calling for all blacks to be caged again or sent back to africa where they belong.  You weren't triggered by what he said, you were triggered that someone was called a racist.
 

[Spendulus]

.....
All from the link you provided:

In the 1940s Byrd was in the Klan.

He "then spent decades apologizing for what he called a ‘sad mistake".

In his 2005 memoir he wrote "It has emerged throughout my life to haunt and embarrass me and has taught me in a very graphic way what one major mistake can do to one’s life, career, and reputation,"


So your conclusion is that, since Bird died in 2010 - the democratic party shared ideals with the Klan until 2010.

Quite a stretch, even for you - the guy who attacked me for calling someone racist who was openly recruiting for the KKK and calling for all blacks to be caged again or sent back to africa where they belong.  You weren't triggered by what he said, you were triggered that someone was called a racist.
 

I'm just looking for some period where you can rationally, objectively claim some moral high ground to pontificate about other peoples' faults from.

There's no triggering here. Triggering is a ridiculous contrived liberal delusion.

[JollyGood]

Why would he hide behind excuses? What is stopping him from releasing his tax returns while the audit is on-going?

There is absolutely nothing stopping anybody releasing their tax returns while the audit with the IRS is going on.
....

Yeah, that's you trying to push someone else into doing something.

You can ask nicely.

Naw, leftists would rather sue to get them, or outright steal them.

[squatz1]

Why would he hide behind excuses? What is stopping him from releasing his tax returns while the audit is on-going?

There is absolutely nothing stopping anybody releasing their tax returns while the audit with the IRS is going on.
....

Yeah, that's you trying to push someone else into doing something.

You can ask nicely.

Naw, leftists would rather sue to get them, or outright steal them.

I'm guessing the reason you wouldn't want to release them during an audit is that the legal team / tax law team is interested in ensuring that the financial ramifications of the audit are as low as possible. If you are to release your tax returns to the public you risk pressure on the IRS to ensure that they make penalties as strict as possible.

Seems to be common practice for wealthier individuals to draw out their audits as long as possible, as that puts them in the best spot to benefit themselves financially.

All Presidents and Vice Presidents are subject to mandatory examinations by the IRS. So that has probably been a fun process over the years. Typically for Presidents only in politics auditing them was probably much easier, but auditing all of their businesses and such? Who knows if that's even on the table for the IRS.

Current IRS Commissioner, Charles Rettig, is a friend of the Trump admin and personally wrote an OP-ED in Forbes defending Trumps practice of not releasing his tax returns.

[Spendulus]

Why would he hide behind excuses? What is stopping him from releasing his tax returns while the audit is on-going?

There is absolutely nothing stopping anybody releasing their tax returns while the audit with the IRS is going on.
....

Yeah, that's you trying to push someone else into doing something.

You can ask nicely.

Naw, leftists would rather sue to get them, or outright steal them.

I'm guessing the reason you wouldn't want to release them during an audit is that the legal team / tax law team is interested in ensuring that the financial ramifications of the audit are as low as possible. If you are to release your tax returns to the public you risk pressure on the IRS to ensure that they make penalties as strict as possible....

Sounds reasonable. In such a situation I might make a quick compromise offer to the IRS, something like "let's settle for 1/2 the disputed amount, but this offer is only good for 10 days."

But then people'd complain he got off easy.

[TwitchySeal]

Why would he hide behind excuses? What is stopping him from releasing his tax returns while the audit is on-going?

There is absolutely nothing stopping anybody releasing their tax returns while the audit with the IRS is going on.
....

Yeah, that's you trying to push someone else into doing something.

You can ask nicely.

Naw, leftists would rather sue to get them, or outright steal them.

I'm guessing the reason you wouldn't want to release them during an audit is that the legal team / tax law team is interested in ensuring that the financial ramifications of the audit are as low as possible. If you are to release your tax returns to the public you risk pressure on the IRS to ensure that they make penalties as strict as possible....

Sounds reasonable. In such a situation I might make a quick compromise offer to the IRS, something like "let's settle for 1/2 the disputed amount, but this offer is only good for 10 days."

But then people'd complain he got off easy.

I think it's because he doesn't want people to know that he's not a successful businessman, just a reality TV star that's good at being famous.