Trump's tax info is out

irishblessing

https://thehill.com/homenews/administration/518510-trump-paid-no-income-taxes-for-10-of-past-15-years-report

Breaking news today: "Newly unveiled tax information about President Trump shows he avoided paying income taxes for 10 out of 15 years leading up to the 2016 presidential election, and paid just 750 dollars in income taxes in 2016 and 2017. According to the documents unveiled by the NYT, Trump is also hundreds of millions in debt."

I have paid more than this guy in taxes in the last 15 years. Let's see how this plays out with their voters.

DraftDodger

Will play well with his base tbh.

Yurt2

Absurdly, this is probably all legal and above board. The guy is too big to fail, and this has always been known about him.

Hopefully the scales will fall from the eyes of middle America how clowns like this get away with everything while they get ruthlessly foreclosed on if the economy wobbles. Meanwhile, this class of people is fed poison propoganda about welfare moms who live paycheck to paycheck.

MrMusician18

It won't make an iota of difference to his base. I get the feeling that Trumps support isn't for Trump the man per-se, but rather for Trumpism - the pushback against liberalism generally.

Junkyard Tom

And his fans will applaud him while they drown in debt and their children will be poorer than them.

jam_mac_jam

Wow so he is a big loser. Hilarious.

It will be spun as lies or that he is so clever to avoid so much tax. The level of debt explains some of his motivations though.

Very interesting. Amazing that this came out before the election.

francois

Fake news rant in progress from him

TheBlackPill

irishblessing wrote: »

https://thehill.com/homenews/administration/518510-trump-paid-no-income-taxes-for-10-of-past-15-years-report

Breaking news today: "Newly unveiled tax information about President Trump shows he avoided paying income taxes for 10 out of 15 years leading up to the 2016 presidential election, and paid just 750 dollars in income taxes in 2016 and 2017. According to the documents unveiled by the NYT, Trump is also hundreds of millions in debt."

I have paid more than this guy in taxes in the last 15 years. Let's see how this plays out with their voters.

Says the New York times. The representative of Trump disputes this and says millions paid. Going on past witch hunts would suggest i would believe the Trump representative rather than the paper. Remember when we were all told Trump was in Epsteins airplane. When the dust settled we found he had shared it once going to a USA destination but multiple demoxrat politicians had flown multiple times to Epsteins private island(B Clinton ang G Mitchell included).
We also find out that Epstein had been banned from all Trump resorts and reported to Police after an incident in a Trump resort.

jam_mac_jam

TheBlackPill wrote: »

Says the New York times. The representative of Trump disputes this and says millions paid. Going on past witch hunts would suggest i would believe the Trump representative rather than the paper. Remember when we were all told Trump was in Epsteins airplane. When the dust settled we found he had shared it once going to a USA destination but multiple demoxrat politicians had flown multiple times to Epsteins private island(B Clinton ang G Mitchell included).
We also find out that Epstein had been banned from all Trump resorts and reported to Police after an incident in a Trump resort.

So he was on the plane then?

Yeah it's all lies. All of it. Mainstream media lies.

How predictable.

irishblessing

TheBlackPill wrote: »

Says the New York times. The representative of Trump disputes this and says millions paid. Going on past witch hunts would suggest i would believe the Trump representative rather than the paper. Remember when we were all told Trump was in Epsteins airplane. When the dust settled we found he had shared it once going to a USA destination but multiple demoxrat politicians had flown multiple times to Epsteins private island(B Clinton ang G Mitchell included).
We also find out that Epstein had been banned from all Trump resorts and reported to Police after an incident in a Trump resort.

There is more on the Trump rep from the NYT, basically saying he is incorrectly conflating this with that, other taxes paid with income tax, etc. He still only paid the discovered amount of income tax. Epstein has nothing to do with this story. For now.

mickdw

Looking a trumps business dealings going back to the 1970s, it would appear his whole business plan was based on offering a fantastic developments to regenerate areas of new york but only with the governement on board by way of huge tax breaks making it near impossible to fail. Id therefore imagine his tax affairs are in order and any tax avoidance schemes used would be 100 percent legal.
I think he is on record as saying (possibly during debate with clinton at last election) that surely if he doesnt pay much tax, that makes him smart.
Dont get me wrong, he is a clown but focusing on business taxes is not the way to bring him down.

TheBlackPill

jam_mac_jam wrote: »

So he was on the plane then?

Yeah it's all lies. All of it. Mainstream media lies.

How predictable.

Once. Going to Atlantic city i believe. Not all of it will be lies. But with every previous attempt at trumps political assazsination not sticking, why do you think the democratic spin on these tax records will be any different?

ChikiChiki

An out and out fraud has made it to the highest office in the US.

If he doesn't win relection it will be extremely messy over there.

Atlantis50

irishblessing wrote: »

https://thehill.com/homenews/administration/518510-trump-paid-no-income-taxes-for-10-of-past-15-years-report

Breaking news today: "Newly unveiled tax information about President Trump shows he avoided paying income taxes for 10 out of 15 years leading up to the 2016 presidential election, and paid just 750 dollars in income taxes in 2016 and 2017. According to the documents unveiled by the NYT, Trump is also hundreds of millions in debt."

I have paid more than this guy in taxes in the last 15 years. Let's see how this plays out with their voters.

Ahem...

For 2005 through 2007, cash from licensing deals and endorsements filled Mr. Trump’s bank accounts with $120 million in pure profit. With no prior-year losses left to reduce his taxable income, he paid substantial federal income taxes for the first time in his life: a total of $70.1 million.

https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?action=click&module=Spotlight&pgtype=Homepage

No fan of Trump, but the spin on this story is grossly misleading.

So he paid 0 or close to zero some years because he was able to write off taxes against losses, but other years paid massive sums.

This story is a dud.

Trump will probably lose in November, but it won't be because of this.

Harry Palmr

How do you dispute tax records? It's all audited and there to be seen surely.

Yurt2

Atlantis50 wrote: »

Ahem...

For 2005 through 2007, cash from licensing deals and endorsements filled Mr. Trump’s bank accounts with $120 million in pure profit. With no prior-year losses left to reduce his taxable income, he paid substantial federal income taxes for the first time in his life: a total of $70.1 million.

https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?action=click&module=Spotlight&pgtype=Homepage

No fan of Trump, but the spin on this story is grossly misleading.

So he paid 0 or close to zero some years because he was able to write off taxes against losses, but other years paid massive sums.

This story is a dud.

Trump will probably lose in November, but it won't be because of this.

In fairness, he completely misled the public on the nature of his tax dealings. You'll also note that there's a very uncomfortable audit hanging over him also.

It's well known that his empire in the NY area was built on screwing contractors. Indeed, a relative of mine recalls being a brickie for a contractor that was stiffed by Trump in the 80s.

The guy was and is a sleazeball property goon, a notch below a used car salesman. I never expected anything other than practicing aggressive tax avoidance.

NSAman

ffs... the American tax system is NOTHING like the tax system in Ireland.

I say this as someone who knows both.

Just because someone pays little tax here does not mean they are not earning money.

Tax is for ordinary workers, is something I have heard more than once.

Write offs/deductions etc. Etc. Can all be used to drop the tax due and is.

Unlike Ireland the income can be adjusted dramatically. Hence a good tax accountant is required. I know of one person who will never pay tax again who earns 300K (minimum) but has supposed losses of 14 million.

American business pays minimal tax and smart individuals pay little.

TheBlackPill

Harry Palmr wrote: »

How do you dispute tax records? It's all audited and there to be seen surely.

The dispute was not with the tax records. Its the selective reporting, soin and blatant media bias that is disputed

NewClareman

Atlantis50 wrote: »

Ahem...

For 2005 through 2007, cash from licensing deals and endorsements filled Mr. Trump’s bank accounts with $120 million in pure profit. With no prior-year losses left to reduce his taxable income, he paid substantial federal income taxes for the first time in his life: a total of $70.1 million.

https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?action=click&module=Spotlight&pgtype=Homepage

No fan of Trump, but the spin on this story is grossly misleading.

So he paid 0 or close to zero some years because he was able to write off taxes against losses, but other years paid massive sums.

This story is a dud.

Trump will probably lose in November, but it won't be because of this.

From the same reference:

"Mr. Trump did face large tax bills after the initial success of “The Apprentice” television show, but he erased most of these tax payments through a refund. Combined, Mr. Trump initially paid almost $95 million in federal income taxes over the 18 years. He later managed to recoup most of that money, with interest, by applying for and receiving a $72.9 million tax refund, starting in 2010.

The refund reduced his total federal income tax bill between 2000 and 2017 to an annual average of $1.4 million. By comparison, the average American in the top .001 percent of earners paid about $25 million in federal income taxes each year over the same span.

The $72.9 million refund has since become the subject of a long-running battle with the I.R.S.

When applying for the refund, he cited a giant financial loss that may be related to the failure of his Atlantic City casinos. Publicly, he also claimed that he had fully surrendered his stake in the casinos.

But the real story may be different from the one he told. Federal law holds that investors can claim a total loss on an investment, as Mr. Trump did, only if they receive nothing in return. Mr. Trump did appear to receive something in return: 5 percent of the new casino company that formed when he renounced his stake."

The story is far from a dud - it shows that the Donald is in deep trouble, financially!

jam_mac_jam

Harry Palmr wrote: »

How do you dispute tax records? It's all audited and there to be seen surely.

It's how everything with Trump is handled. Question the source, never ever address the issue at hand.

Nobotty

Atlantis50 wrote: »

Ahem...

For 2005 through 2007, cash from licensing deals and endorsements filled Mr. Trump’s bank accounts with $120 million in pure profit. With no prior-year losses left to reduce his taxable income, he paid substantial federal income taxes for the first time in his life: a total of $70.1 million.

https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?action=click&module=Spotlight&pgtype=Homepage

No fan of Trump, but the spin on this story is grossly misleading.

So he paid 0 or close to zero some years because he was able to write off taxes against losses, but other years paid massive sums.

This story is a dud.

Trump will probably lose in November, but it won't be because of this.

No
On CNN,they explained that that 70 million was the equivalent of what we call here preliminary tax and it was all refunded 2 months later
So that year he still paid NADA,Zero,Nothing

Yurt2

NSAman wrote: »

ffs... the American tax system is NOTHING like the tax system in Ireland.

I say this as someone who knows both.

Just because someone pays little tax here does not mean they are not earning money.

Tax is for ordinary workers, is something I have heard more than once.

Write offs/deductions etc. Etc. Can all be used to drop the tax due and is.

Unlike Ireland the income can be adjusted dramatically. Hence a good tax accountant is required. I know of one person who will never pay tax again who earns 300K (minimum) but has supposed losses of 14 million.

American business pays minimal tax and smart individuals pay little.

I won't proclaim to be an expert on the US tax code, but that sounds like an utterly sh*t way to run a developed country.

Get yourself in a position where you're trading consistently at a massive loss, and as long has you have access to credit you can long-finger taxes. Butcher, baker and candlestick maker can pay the taxes that keep the country running.

No wonder the place is on fire.

IAMAMORON

There is no big secret here. He has been bankrupt twice.

You only pay tax on profits.

He is going to walk it.

Character Building

The man is a con artist, any reasonable person has known this for a long time.

It won't effect 40% of voters who would follow him over a cliff, but hopefully it might be the final push some undecided voters need in order to row in with Biden.

Outlaw Pete

Shock horror. The New York Slimes have a anonymous sources hit piece on Trump mere weeks from the Presidential election again.

Who would have thunk it. Trump lawyer:

"Most, if not all, of the facts appear to be inaccurate"

The liberal media are at the usual "Bombshell!!" / "Explosive"nonsense again today but I'm pretty sure we've heard all that somewhere before.

https://www.youtube.com/watch?v=yt4cUNNfWtw

LuckyLloyd

IAMAMORON wrote: »

There is no big secret here. He has been bankrupt twice.

You only pay tax on profits.

He is going to walk it.

Yeah but he’s broke and will be foreclosed on within the next couple of years. Bankruptcy looms...again. I don’t know about you, but I always thought good businesspeople avoid going bankrupt repeatedly. No?

IAMAMORON

LuckyLloyd wrote: »

Yeah but he’s broke and will be foreclosed on within the next couple of years. Bankruptcy looms...again. I don’t know about you, but I always thought good businesspeople avoid going bankrupt repeatedly. No?

Maybe he went bankrupt to avoid paying tax?

Makes more sense?

namloc1980

Atlantis50 wrote: »

Ahem...

For 2005 through 2007, cash from licensing deals and endorsements filled Mr. Trump’s bank accounts with $120 million in pure profit. With no prior-year losses left to reduce his taxable income, he paid substantial federal income taxes for the first time in his life: a total of $70.1 million.

https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?action=click&module=Spotlight&pgtype=Homepage

No fan of Trump, but the spin on this story is grossly misleading.

So he paid 0 or close to zero some years because he was able to write off taxes against losses, but other years paid massive sums.

This story is a dud.

Trump will probably lose in November, but it won't be because of this.

You missed the part where he claimed back that $70m paid in 05-07 as a tax refund in 2010 citing further loses. This refund claim is the subjecte of the ongoing IRS audit.

dark crystal

Outlaw Pete wrote: »

Shock horror. The New York Slimes have a anonymous sources hit piece on Trump mere weeks from the Presidential election again. Who would have thunk it.

Trump lawyer:



The liberal media are at the usual "Bombshell!!" nonsense again today but I'm pretty sure we've heard all that somewhere before.

Lol, you think they'd put out a piece like this without scrupulous fact-checking first? Let's see if he sues...

Why has Trump been so loathe to release his tax returns all this time if everything was above board? If he had nothing to hide, why not release them when requested?

He's the slimeball. A slimeball who owes millions and didn't pay a cent in tax for 10 years. Spin that all you want, but them's the facts.

namloc1980

Outlaw Pete wrote: »

Shock horror. The New York Slimes have a anonymous sources hit piece on Trump mere weeks from the Presidential election again.

Who would have thunk it. Trump lawyer:




The liberal media are at the usual "Bombshell!!" / "Explosive"nonsense again today but I'm pretty sure we've heard all that somewhere before.

https://www.youtube.com/watch?v=yt4cUNNfWtw

Pete to the rescue of his hero Trump again. What a surprise. I thought you'd go with the no big deal angle, but you just can't move away from the fake news mantra. Sad.

Man with broke phone

Paid 70 million in taxes one year.

He is an apex business man, he deals in dynasties not a couple of years where he made a loss. He isnt a paye worker. He may make a loss some years with investments waitjng to mature etc and make huge profits other years.

Desperate by the liberal media.

dwayneshintzy

Outlaw Pete wrote: »

Shock horror. The New York Slimes have a anonymous sources hit piece on Trump mere weeks from the Presidential election again.

Who would have thunk it. Trump lawyer:




The liberal media are at the usual "Bombshell!!" / "Explosive"nonsense again today but I'm pretty sure we've heard all that somewhere before.

https://www.youtube.com/watch?v=yt4cUNNfWtw

Trump can publicly release all his returns and tax info to dispute the story, it's an easy way to disprove it.

astrofool

LuckyLloyd wrote: »

Yeah but he’s broke and will be foreclosed on within the next couple of years. Bankruptcy looms...again. I don’t know about you, but I always thought good businesspeople avoid going bankrupt repeatedly. No?

In America you can structure the bankruptcy to keep most assets, particularly if you have a trusting partner.

I don't think this will change anything for Trump bar a few headlines making fun of him (and feigned outrage at bullying).

He can of course make it all go away by releasing his tax returns, but he won't do that, as it exposes his dealings to everyone, right now he's both bankrupt and solvent, he's Schrodinger's bank account.

blinding

Trump's is a Great President and Getting Better Everyday.

He is the Perfect President to deal with the Antifa Terrorists / BLM Terrorists / Communists after he is Re-Elected.

Trump is a Great Guy.

Harry Palmr

Are you are parody or is this a parody post?

astrofool

Man with broke phone wrote: »

Paid 70 million in taxes one year.

He is an apex business man, he deals in dynasties not a couple of years where he made a loss. He isnt a paye worker. He may make a loss some years with investments waitjng to mature etc and make huge profits other years.

Desperate by the liberal media.

Just a few posts above, that was preliminary tax that was refunded. Please post facts, and at least read the thread before posting a lie.

circular flexing

Outlaw Pete wrote: »

Shock horror. The New York Slimes have a anonymous sources hit piece on Trump mere weeks from the Presidential election again.

Pretty sure they wouldn't run with this unless they have verified documents to back it up. They also say that more information will be published over the next few weeks.


Two things stand out for me
- Dispute with IRS over the $70 million refund
- $300 million worth of loans coming due in the next few years.



Having a president with that much debt should be alarming.


In any case this is bad for Trump as he will be asked about it repeatedly for the rest of the campaign. Every day he spends defending this is one less day to pull back in the polls. Of course he could put this to bed by actually releasing his returns (which he won't do, and everyone even the IRS knows the audit excuse is pure BS)

namloc1980

Man with broke phone wrote: »

Paid 70 million in taxes one year.

He is an apex business man, he deals in dynasties not a couple of years where he made a loss. He isnt a paye worker. He may make a loss some years with investments waitjng to mature etc and make huge profits other years.

Desperate by the liberal media.

You missed the part where he claimed all that $70m back in a tax refund in 2010 citing massive losses and that's what the IRS are now investigating.

4068ac1elhodqr

The wealthy (all of them) don't pay tax (not their fair share anyway), surely this is common knowledge by now.

Man with broke phone

namloc1980 wrote: »

You missed the part where he claimed all that $70m back in a tax refund in 2010 citing massive losses and that's what the IRS are now investigating.

I got 12000 tax back last year because I was entitled to it. Every agency in america is investigating him and nothing is sticking. Its accepted as fact now they made up all the russia interference stuff and hotel prostitute pee stuff. They have nothing on him.

Manach

So, ye all are aware that he has given away his salary for his tenure as President hence is unlikely to have paid much income tax on those, Given the timing on the run up to election, an early October surprise.

blinding

Donald Trump will be an Even Better President after his 4 years of Experience.

Look what Donald Trump has reduced the Democrats to ( ok with a lot of help from the Democrats )

I expect in 4 years time after Donald Trump has completed his second term he will be considered one of if not the Best President America has ever had !

namloc1980

Draven Gorgeous Mission wrote: »

The wealthy (all of them) don't pay tax (not their fair share anyway), surely this is common knowledge by now.

False. The top 1% of earners in the US pay over 38% of the total income tax. The average tax rate paid by the top 1% is over 26%. No doubt the minimise their taxes but Trump almost completely avoided paying for 2 decades. He's an outlier here.

https://taxfoundation.org/summary-of-the-latest-federal-income-tax-data-2020-update/

blinding

Man with broke phone wrote: »

I got 12000 tax back last year because I was entitled to it. Every agency in america is investigating him and nothing is sticking. Its accepted as fact now they made up all the russia interference stuff and hotel prostitute pee stuff. They have nothing on him.

Obama and his dodgy crew should be in jail for some of the stuff they pulled. They probably will end up in Jail.

namloc1980

Man with broke phone wrote: »

I got 12000 tax back last year because I was entitled to it. Every agency in america is investigating him and nothing is sticking. Its accepted as fact now they made up all the russia interference stuff and hotel prostitute pee stuff. They have nothing on him.

Are the revenue investigating the circumstances of your tax rebate?

dark crystal

Draven Gorgeous Mission wrote: »

The wealthy (all of them) don't pay tax (not their fair share anyway), surely this is common knowledge by now.

Somebody should have told this lot:

https://twitter.com/MaxKennerly/status/1310333567428427777

President Obama paid a lot more than $750 also, but funnily enough, that wasn't enough for this grifting hypocrite then either...

https://twitter.com/realDonaldTrump/status/190866856624668672

Yurt2

Man with broke phone wrote: »

Paid 70 million in taxes one year.

He is an apex business man, he deals in dynasties not a couple of years where he made a loss. He isnt a paye worker. He may make a loss some years with investments waitjng to mature etc and make huge profits other years.

Desperate by the liberal media.

His business dealings have been characterized by folly and failure. Read about his Atlantic City casino disaster. The man couldn't even keep a money printing business like a casino running that native American reservations turn a buck on. As far as I'm aware what money he does make is liscensing of his name, hardly the stuff of
Henry Ford / Rockefeller /Bezos.

Also, I recall that had he taken the money he inherited from his father, dumped in an index fund and left it there, he'd be a significantly wealthier man than he is today. And likely wouldn't have the IRS chasing after him.

namloc1980

Manach wrote: »

So, ye all are aware that he has given away his salary for his tenure as President hence is unlikely to have paid much income tax on those, Given the timing on the run up to election, an early October surprise.

Only one of the 18 years examined in the Times revelations are from his presidency - 2017. Read the article.

blinding

dark crystal wrote: »

Somebody should have told this lot:

https://twitter.com/MaxKennerly/status/1310333567428427777

President Obama paid a lot more than $750 also, but funnily enough, that wasn't enough for this grifting hypocrite then either...

https://twitter.com/realDonaldTrump/status/190866856624668672

Donald Trump seems to have the Very Best Tax Accountants. The Man is a Genius.

dark crystal

blinding wrote: »

Donald Trump seems to have the Very Best Tax Accountants. The Man is a Genius.

That's what Al Capone thought too...

Man with broke phone

namloc1980 wrote: »

Are the revenue investigating the circumstances of your tax rebate?

I should hope so.

Every department in america is investigating Trump. The dems are paying anybody reward money for any dirt they can dig up but they cant dig anything up.