Trump Taxes
Anyone who donates money to Trump should be embarrassed to put a lawn sign in front of their house. I know one with Trump’s flag up still donating money, and still insulting his friends on Facebook.
deplorable is an understatement.
tl;dr -- the president is deeply, deeply in debt, facing serious potential financial and legal liability, and eagerly raking in revenue from lobbyists and foreign governments patronizing his business interests.
More important, he paid $70 so he can walk around with a dead cat on his head.
---- and that's genius?
dave said:
Trump, the welfare king.
He's done.
I don't believe that for one second. He has a large apparatus around him to shield him from consequences.
Lots of people will dismiss this out of hand since it's NYT reporting.
Lots of people won't care. It's not their issue. They'll dismiss it as just the vagaries of business.
There's nothing blatantly illegal in the current reporting. Lots of setup but no big haymaker blow. Lots of people will look at this as evidence of his business savvy.
The Times says there's more reporting to come. I almost wish this came from the Wall Street Joyrnal or the Des Moines Register or someplace the president's supporters don't believe is on a vendetta against him.
ETA: Never underestimate the power of cognitive dissonance. If the WSJ published similar reporting about Obama in 2012 would you have changed your vote?
He’s been done a long time ago. It’s his base who will believe he’s being persecuted....just like Jim Jones claimed he was. Trump is actually running the largest cult in the history of America. The only people who would change their minds now are the independent voters, and the republicans who have any decency left in their souls.
I just wish the elections was tomorrow and get this horse excrement over with already. People are already decided on who they’re voting for. It’s done.
mrincredible said:
I don't believe that for one second. He has a large apparatus around him to shield him from consequences.
Lots of people will dismiss this out of hand since it's NYT reporting.
Lots of people won't care. It's not their issue. They'll dismiss it as just the vagaries of business.
There's nothing blatantly illegal in the current reporting. Lots of setup but no big haymaker blow. Lots of people will look at this as evidence of his business savvy.
The Times says there's more reporting to come. I almost wish this came from the Wall Street Joyrnal or the Des Moines Register or someplace the president's supporters don't believe is on a vendetta against him.
ETA: Never underestimate the power of cognitive dissonance. If the WSJ published similar reporting about Obama in 2012 would you have changed your vote?
his cult will continue to believe Trump is a very rich, successful businessman. And that the tax returns show how brilliant he is, and he's playing the game that all smart rich business people play.
I don't really care what his base thinks of him, but it sounds like he owes us (the tax payers) $100m. When are we getting that money back?
basil said:
I don't really care what his base thinks of him, but it sounds like he owes us (the tax payers) $100m. When are we getting that money back?
It's more likely he really doesn't owe any taxes. He's probably really losing lots of money every year.
The email lady told us the last time, but not enough people listened. Three pages of Trump's tax returns confirm he's a business failure who's gotten rich at your expense. Imagine what he’s hiding in the rest. pic.twitter.com/E3Wt3KRleN
ml1 said:
basil said:
I don't really care what his base thinks of him, but it sounds like he owes us (the tax payers) $100m. When are we getting that money back?
It's more likely he really doesn't owe any taxes. He's probably really losing lots of money every year.
The $100 million is the tax refund, plus potential penalties, that Trump claimed and that is being audited. (At issue is whether he received compensation that would have disallowed the refund.) Depending on the outcome of the audit, Trump could have to repay that amount.
DaveSchmidt said:
The $100 million is the tax refund, plus potential penalties, that Trump claimed and that is being audited. (At issue is whether he received compensation that would have disallowed the refund.) Depending on the outcome of the audit, Trump could have to repay that amount.
got it. I forgot that part of the story.
Personally, i love love love seeing this. But really, the believers will just say it shows he's a sharp businessman, and their thinking won't be affected at all.
2 bottom lines:
(1) he's the shyster one has always known he is (mfpark, late of MOL, said he was known in NYC real estate circles as "a buffoon and a cheat")
(2) the tax code is a decades-long mess, often unenforceable for practical purposes at the big-money level and increasingly not enforced at lower levels because of defunding the IRS.
ml1 said:
It's more likely he really doesn't owe any taxes. He's probably really losing lots of money every year.
Actually, there's a lot of tax fraud revealed in the reporting. Among other things, he has written off seemingly all of his personal expenses as business expenses. Some of these include all expenses as Seven Springs and his criminal defense attorneys.
I don't think that it's actually true these scandals don't hurt Trump. True, he seems to have a pretty stable floor of support, but on the flip side he also has had a stable -- and low -- ceiling. You can make a good case that the Democratic romp in the suburbs in 2018 is a reflection of this, and mere weeks out from the election Trump is failing to significantly close the sizeable gap against Biden. It's depressing that all these various scandals and failures of his manifest unfitness haven't cost him far more support, but I don't think it's supportable to say that they don't matter at all.
When he doesn't have money to pay the Russians back, it will hurt him PLENTY.
CNN's Poppy Harlow to WH Spox Brian Morgenstern: "These are remarkable reporters from the NYTimes... It is not OK for you to accuse them with no facts of coordinating with the Democratic Party. Please stop doing that or this interview will end. Brian, stop attacking the press." pic.twitter.com/XrXx8Gz8IL
— The Hill (@thehill) September 28, 2020
Trump in a radio interview with Hannity in 2011:
Trump added in the Hannity radio interview in 2011: "The amazing thing is that half of the country is paying nothing. Zero. And even if you don't make a lot, you should have to pay something. Just something to be a part of the game. Half of the country's paying nothing.
In his 2011 book, "Time to Get Tough," Trump cited "half of America" not paying federal income tax as a danger of increased federal spending."Half of America doesn't even pay a single penny in federal income taxes," Trump wrote. "That may shock you, but it's true. That's one of the reasons soaring federal spending is so dangerous: half the country shrugs its shoulders and says, 'Who cares? It's not my money they're spending.' So the idea that the lower class is shouldering the tax burden is absurd, because the bottom half of Americans pay no federal income tax at all."
https://www.cnn.com/2020/09/28/politics/kfile-trump-taxes/index.html
basil said:
Trump in a radio interview with Hannity in 2011:
Trump added in the Hannity radio interview in 2011: "The amazing thing is that half of the country is paying nothing. Zero. And even if you don't make a lot, you should have to pay something. ...
The earlier reply from ml1 applies here.
Kamala said it best: very unfair to those of us who do pay federal income taxes
I've been listening to a fair amount of analysis in the last few days. My takeaway is there's no evidence of anything blatantly illegal, that people are going "ah ha!" about frivolous stuff and not paying enough attention to more serious issues. The $70,000 hair styling tax deduction for hairstyling is a big fluffy pastry for the headlines. It looks great, tastes so sweet and delicious, gives you a quick rush and has no nutritional value.
The hundreds of millions of debt that's coming due in a couple of years is more troubling, but that dish is like a big plate of steamed vegetables. Nobody likes to dig into it but there's a ton of substance there.
mrincredible said:
I've been listening to a fair amount of analysis in the last few days. My takeaway is there's no evidence of anything blatantly illegal, that people are going "ah ha!" about frivolous stuff and not paying enough attention to more serious issues. The $70,000 hair styling tax deduction for hairstyling is a big fluffy pastry for the headlines. It looks great, tastes so sweet and delicious, gives you a quick rush and has no nutritional value.
The hundreds of millions of debt that's coming due in a couple of years is more troubling, but that dish is like a big plate of steamed vegetables. Nobody likes to dig into it but there's a ton of substance there.
yes, it's the conflicts of interest all over the globe that are troublesome. Does the fact that one of his most lucrative deals is in Istanbul affect U.S. policy toward Erdogan and Turkey? Hard to argue that it doesn't, isn't it?
tell me this isn't a scary hypothesis:
Trump's resort business is collapsing — is that why he pushed to reopen the economy?
More than 205,000 Americans are dead, while 7.1 million have been infected, in part because Trump is desperately worried about the solvency of his vacation properties. In other words, the president of the United States is so freaked out about falling deeper into debt that he may very well be making life-and-death decisions for the entire nation based on the failing financial status of his janky resorts.
Bernie can't miss a chance to be completely unhelpful and to shift the focus away from Trump and on to himself - Yes. Trump's not alone. Federal income taxes paid by corporations a year after his tax plan was signed into law: $0: Amazon $0: GM $0: Netflix $0: Chevron $0: FedEx $0: Eli Lilly $0: Starbucks Dr. King was right. We have socialism for the rich, rugged capitalism for the rest.
ml1 said:
mrincredible said:
I've been listening to a fair amount of analysis in the last few days. My takeaway is there's no evidence of anything blatantly illegal, that people are going "ah ha!" about frivolous stuff and not paying enough attention to more serious issues. The $70,000 hair styling tax deduction for hairstyling is a big fluffy pastry for the headlines. It looks great, tastes so sweet and delicious, gives you a quick rush and has no nutritional value.
The hundreds of millions of debt that's coming due in a couple of years is more troubling, but that dish is like a big plate of steamed vegetables. Nobody likes to dig into it but there's a ton of substance there.
yes, it's the conflicts of interest all over the globe that are troublesome. Does the fact that one of his most lucrative deals is in Istanbul affect U.S. policy toward Erdogan and Turkey? Hard to argue that it doesn't, isn't it?
For instance, the decision to abandon the Kurds? Or the push to abandon prosecution of Flynn, who lied about his connections with the Turkish government?
PVW said:
For instance, the decision to abandon the Kurds? Or the push to abandon prosecution of Flynn, who lied about his connections with the Turkish government?
or to allow Erdogan's bodyguards to beat up U.S. demonstrators on our own soil?
Erdogan: Trump apologized to me over brawl between Turkish bodyguards and protesters
ml1 said:
It would be totally in character. Couple that with his desire to avoid criminal prosecution for four more years while he continues to reshape the Justice Department and Judiciary. There are two huge motivations to ignore the dangers of reopening the economy.
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From the NYTimes:
https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html
Here's the starter paragraphs:
Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.
He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.