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The Brown Wizard wrote: ↑Tue Sep 29, 2020 6:09 am
I bet if you delve deep into the ulta wealthy you would discover how little they all pay in personal income tax.
For these people, every financial transaction is funneled through various tax shelters. Look at the Chef or any contractor who has figured out the value of paying a chartered accountant.
If youre paying out high personal income taxes every spring and self employed its time to find a better accountant
I think I saw a figure that the 0.1 percent in the USA on average pay 25% income tax after deductions.
But those would of course be truly successful people.
Not con men from Queens with a history of bankrupcies and failed business
If you really can have profits of more than 400 million in a year (as Trump Publicly stated he did in 2017) and only pay USD 750 in taxes, the US tax system is fucked up beyond
If, on the other hand, his costs exceded his earnings by 47 million, as he claimed in his tax filings, it makes sense that he didn’t have to pay much.
Topper wrote: ↑Mon Sep 28, 2020 5:20 pm
You have responsibility to yourself to pay the least amount of taxes a legally possible.
Well, sure, if he did lose money, of course the deductions are OK. I think the issue is more that he has stated that he made more than 400 million in 2017, yet he told the IRS he lost 47 million. Which is it?
Is he lying to the public about being a successful businessman, or to the IRS about all his companies leaking money like sieves? It has to be one or the other.
I'm no expert, but it is common knowledge that rich Americans use a property depreciation credit to avoid paying taxes.
... even though those property values are actually increasing!
That is just one of the many tax-avoidance loopholes available to fabulously wealthy Americans.
And ole "My orange hero" owns a shitload of properties amirite?
There are many loopholes available in America thanks to longtime lawmakers such as Sleepy Creepy Joe.
I'm guessing you didn't watch the entire Gutfeld video I posted.
(the Gutfeld monologue at the beginning is hilarious, but listen to panelist Jesse Watters speak on this matter)
Per wrote: ↑Tue Sep 29, 2020 3:41 am
I actually lean toward thinking his tax filings are correct and he is living large on borrowed money and borrowed time, which is sad. I would much rather have him being as rich as he claims to be and facing a lengthy prison term for tax evasion.
You haven't seen his tax filings and you're lost in your TDS fantasies once again.
Sad!
Tax avoidance is what everyone does (legal + logical).
Tax avoidance and tax evasion are two entirely different things.
President Trump said ‘Proud Boys, stand back and stand by’ when being asked if he was willing to condemn white supremacists and militia groups during the first presidential debate.
The Proud Boys have been described by the FBI as a far-right, male-exclusive group. According to The New York Times, they have been criticized for their violent actions during the nation’s recent protests.
Strangelove wrote: ↑Tue Sep 29, 2020 3:13 pm
Tax avoidance is what everyone does (legal + logical).
Tax avoidance and tax evasion are two entirely different things.
Don the con man has deducted more than 20 million in consultance fees to Ivanka.
At the same time Ivanka was an employee of Trump Inc.
You do not pay consultance fees to employees. Period.
Definitely reeks of tax evasion!
And on a hilarious note, he deducted USD 70,000 for having his hair done!
Seriously? THAT hair?! I say he got ripped off big time!
Btw, if Don the con man claims the NYT figures and facts are wrong, why doesn’t he prove it by releasing his taxes...
LIKE EVERY SINGLE PRESIDENTIAL CANDIDATE SINCE TRICKY DICK NIXON?
They actually sound a lot like the SA, the brown shirts who fought commies and other political opponents in the streets of Germany in the late 1920’s, early 1930’s.
Useful idiots that Adolf later got rid off after having secured power.
