trump taxes

[SLW]

I don’t think it’s a covert campaign. There’s an entire political party that exists solely to eliminate taxes for the wealthy.

I would argue there are at least three or four parties that do that

 

[It will be fine]

I would argue there are at least three or four parties that do that

We only have 2 parties here. Tax and spend or cut tax and spend on credit.

 

[fishtm2001]

"In 2016, the average middle-income household earned $60,000. According to the Congressional Budget Office, the average household paid $2,200 in federal taxes that year. The biggest talking point of Trump’s campaign has been his obsession with the notion that undocumented immigrants are criminals and racists coming to exploit and destroy our country. One key component of that message is his assertion that undocumented immigrants are costing the federal government billions of dollars a year. But, in fact, the latest data from the IRS found that undocumented immigrants paid $23.6 billion in federal income tax in 2015. They also pay Social Security and Medicare, benefits they are not eligible to receive. When it comes to being tax burdens, immigrants have nothing on the president of the United States."


NATHALIE BAPTISTE
Mother Jones

 

[rickyb]

Can you name one? If so did that company make a profit in the tax year they paid no taxes? BTWevery publicity traded corporation has all their finances on file at the SEC you can look them up right on line.

To be clear, there is no tax, none whatsoever, on a person who is a Billionaire unless that Billionaire had income that year.

But it sounds like you just don’t like anyone who has been more financially successful than you.

no i want the rich to pay a higher % in taxes than the poor and middle class. i dont want runaway inequality becuase it corrupts the political system too.

Corporate Tax Avoidance in the First Year of the Trump Tax Law | Citizens for Tax Justice - Working for a fair and sustainable tax system

here are hte worst offenders:

 

[AKCoverMan]

Keep simping, I'm sure they'll let you in on some of those billions one of these days.

“Simping?” I had a hard time getting spellcheck to type that.

 

[refineryworker05]

I think the narrative that trump is going with that it's good to avoid paying federal income taxes might work, except for the fact that for someone of his supposed wealth paying taxes that low are truly abnormal. Like not even in the ball park of what other wealthy people pay in taxes. We can all look this up. People in the top .1% of income pay on average hundreds of thousands in federal income taxes. Paying $750 with that level of income is an extreme outlier.

Also trump supporters are trying to conflate trump's business taxes with his personal federal income taxes. That's two different things

Also, the rich always game taxes to their benefit, sadly they have a political party for whom getting rich people lower taxes is the thing their elected officials believe they must do and that political party is able to take that plutocratic economic agenda and talk about culture war nonsense because they know their voters driving desire is to prevent having to share political power with groups of Americans they hate and fear. Their other driving desire of those voters is to prevent the groups they hate and fear from benefitting from the federal government. This is why republican elected officials talk about twitter being against them and their voters, this why they talk about the media being against them and their voters, this is why they fearmonger about immigrants taking over, this why they talk about football players kneeling during the national anthem, this is why they discuss welfare cheats because they know this is the stuff their voters care about. Their voters want the old hierarchy in American society to be maintained and they believe changing that hierarchy by allowing these other groups to share power will destroy America.

And they turn that hatred and fear into votes and those votes elect republicans whose one goal is to lower the taxes of very wealthy people.

 

[AKCoverMan]

no i want the rich to pay a higher % in taxes than the poor and middle class. i dont want runaway inequality becuase it corrupts the political system too.

Corporate Tax Avoidance in the First Year of the Trump Tax Law | Citizens for Tax Justice - Working for a fair and sustainable tax system

here are hte worst offenders:

View attachment 311273
View attachment 311274

You understand that all these companies followed the law? There are rules about carrying losses forward etc. Should they all just pay in more than they are required to just to be nice? How much do you overpay your tax bill?

Finally, realize that all corporate income taxes are simply expense past on to the consumer. So, go ahead, tax the hell out of the “evil corporations”, but don’t cry when prices go up to cover it.

I would tax corporate income at zero. But then I would tax individual income at zero too, income and profit should not be penalized. Tax spending instead. The so-called “rich” will always spend more so they will pay more.

 

[AKCoverMan]

I think the narrative that trump is going with that it's good to avoid paying federal income taxes might work, except for the fact that for someone of his supposed wealth paying taxes that low are truly abnormal. Like not even in the ball park of what other wealthy people pay in taxes. We can all look this up. People in the top .1% of income pay on average hundreds of thousands in federal income taxes. Paying $750 with that level of income is an extreme outlier.

Also trump supporters are trying to conflate trump's business taxes with his personal federal income taxes. That's two different things

Also, the rich always game taxes to their benefit, sadly they have a political party for whom getting rich people lower taxes is the thing their elected officials believe they must do and that political party is able to take that plutocratic economic agenda and talk about culture war nonsense because they know their voters driving desire is to prevent having to share political power with groups of Americans they hate and fear. Their other driving desire of those voters is to prevent the groups they hate and fear from benefitting from the federal government. This is why republican elected officials talk about twitter being against them and their voters, this why they talk about the media being against them and their voters, this is why they fearmonger about immigrants taking over, this why they talk about football players kneeling during the national anthem, this is why they discuss welfare cheats because they know this is the stuff their voters care about. Their voters want the old hierarchy in American society to be maintained and they believe changing that hierarchy by allowing these other groups to share power will destroy America.

And they turn that hatred and fear into votes and those votes elect republicans whose one goal is to lower the taxes of very wealthy people.

Yes except you don’t pay tax on wealth, you pay tax on income. The boiled down version is while Trump has wealth some years he made money and some years he lost money. You don’t pay tax when your income that year is actually a loss.

Nevertheless, even in losing years there are other taxes besides federal income tax. Trump’s businesses employ many people and there are payroll taxes on all of them. There are real estate taxes on property, road use taxes on company’s vehicles, I could go on and on,

I don’t disagree the federal income tax system is broken, it’s been that way for a long long time under Presidents and Congress from both parties. But that doesn’t make the President dirty or something, anymore than the many, many rich Democrats that use the same tax code are. To pay the least tax required under the law is perfectly legal. To avoid is legal, to evade is not.

 

[AKCoverMan]

"In 2016, the average middle-income household earned $60,000. According to the Congressional Budget Office, the average household paid $2,200 in federal taxes that year. The biggest talking point of Trump’s campaign has been his obsession with the notion that undocumented immigrants are criminals and racists coming to exploit and destroy our country. One key component of that message is his assertion that undocumented immigrants are costing the federal government billions of dollars a year. But, in fact, the latest data from the IRS found that undocumented immigrants paid $23.6 billion in federal income tax in 2015. They also pay Social Security and Medicare, benefits they are not eligible to receive. When it comes to being tax burdens, immigrants have nothing on the president of the United States."


NATHALIE BAPTISTE
Mother Jones

$23B in a year is a drop in the bucket against what social services cost. Plus, how do you come up with an amount of tax paid by illegal workers? It’s ridiculous.

 

[The big package]

It's kind of funny there's a lot of people here bitching about the wealthy not paying their fair share of taxes , but no mention of the fact that most of them are Democrats ! It's also interesting too about the timing of this whole thing right before a debate and election , just like the last time there was a debate !!!

 

[It will be fine]

Yes except you don’t pay tax on wealth, you pay tax on income. The boiled down version is while Trump has wealth some years he made money and some years he lost money. You don’t pay tax when your income that year is actually a loss.

Nevertheless, even in losing years there are other taxes besides federal income tax. Trump’s businesses employ many people and there are payroll taxes on all of them. There are real estate taxes on property, road use taxes on company’s vehicles, I could go on and on,

I don’t disagree the federal income tax system is broken, it’s been that way for a long long time under Presidents and Congress from both parties. But that doesn’t make the President dirty or something, anymore than the many, many rich Democrats that use the same tax code are. To pay the least tax required under the law is perfectly legal. To avoid is legal, to evade is not.

Trump’s entire fortune left from his father was passed on through tax evasion.

 

[AKCoverMan]

Trump’s entire fortune left from his father was passed on through tax evasion.

Ok arrest his Dad.

 

[rickyb]

You understand that all these companies followed the law? There are rules about carrying losses forward etc. Should they all just pay in more than they are required to just to be nice? How much do you overpay your tax bill?

Finally, realize that all corporate income taxes are simply expense past on to the consumer. So, go ahead, tax the hell out of the “evil corporations”, but don’t cry when prices go up to cover it.

I would tax corporate income at zero. But then I would tax individual income at zero too, income and profit should not be penalized. Tax spending instead. The so-called “rich” will always spend more so they will pay more.

no corporate taxes are not necessarily passed onto the consumer. corporations can do whatever they like with prices: they can absorb the losses or they can arbitrarily increase the price. thats propaganda you fell for.

im not sure about taxes, one thing ive heard is the rich should pay more, another is we dont need taxes, another is tax what we dont like.

yea i agree they followed the law. its the law and the system which is broken.

 

[refineryworker05]

Yes except you don’t pay tax on wealth, you pay tax on income. The boiled down version is while Trump has wealth some years he made money and some years he lost money. You don’t pay tax when your income that year is actually a loss.

Nevertheless, even in losing years there are other taxes besides federal income tax. Trump’s businesses employ many people and there are payroll taxes on all of them. There are real estate taxes on property, road use taxes on company’s vehicles, I could go on and on,

I don’t disagree the federal income tax system is broken, it’s been that way for a long long time under Presidents and Congress from both parties. But that doesn’t make the President dirty or something, anymore than the many, many rich Democrats that use the same tax code are. To pay the least tax required under the law is perfectly legal. To avoid is legal, to evade is not.

This is conflating trump's personal federal income taxes with the business income taxes of trump's corporate businesses. Those things are not the same. Trump's actual income is different from the earnings of his corporate businesses. So I have no idea what all of this is supposed to mean

Yes except you don’t pay tax on wealth, you pay tax on income. The boiled down version is while Trump has wealth some years he made money and some years he lost money. You don’t pay tax when your income that year is actually a loss.

Nevertheless, even in losing years there are other taxes besides federal income tax. Trump’s businesses employ many people and there are payroll taxes on all of them. There are real estate taxes on property, road use taxes on company’s vehicles, I could go on and on,

I don’t disagree the federal income tax system is broken, it’s been that way for a long long time under Presidents and Congress from both parties. But that doesn’t make the President dirty or something, anymore than the many, many rich Democrats that use the same tax code are. To pay the least tax required under the law is perfectly legal. To avoid is legal, to evade is not.

This is nonsense. You are trying to present this reasonable hypothetical explanation for an extreme outlier and specific situation. The data exists. We can look it up. The top 1% of income earnings pay an average tax rate of 25-30% of their income in federal income taxes.
trump whose yearly income places him in the top .1% never pays federal income taxes. Like he never pays. you know how we know he never pays he won't release any tax returns to prove what he pays.
The average person in trump's income and wealth status pays at least 100's of thousands of dollars year after year in federal income taxes, but somehow trump and his attorney's have figured out a way to legally pay nothing year after year, that other wealthy high income people can't come close to matching. This is the specific reality of what you are trying to rationalize. It doesn't make any sense. It would mean that trump's businesses never make money and always lose money year after year after year, yet he is somehow extremely wealthy with a high income year after year. They have 18years of his tax returns he never pays Make it make sense.

 

[DriveInDriveOut]

This is conflating trump's personal federal income taxes with the business income taxes of trump's corporate businesses. Those things are not the same. Trump's actual income is different from the earnings of his corporate businesses. So I have no idea what all of this is supposed to mean

This is nonsense. You are trying to present this reasonable hypothetical explanation for an extreme outlier and specific situation. The data exists. We can look it up. The top 1% of income earnings pay an average tax rate of 25-30% of their income in federal income taxes.
trump whose yearly income places him in the top .1% never pays federal income taxes. Like he never pays. you know how we know he never pays he won't release any tax returns to prove what he pays.
The average person in trump's income and wealth status pays at least 100's of thousands of dollars year after year in federal income taxes, but somehow trump and his attorney's have figured out a way to legally pay nothing year after year, that other wealthy high income people can't come close to matching. This is the specific reality of what you are trying to rationalize. It doesn't make any sense. It would mean that trump's businesses never make money and always lose money year after year after year, yet he is somehow extremely wealthy with a high income year after year. They have 18years of his tax returns he never pays Make it make sense.

You don't understand how taxes work.
You're probably Canadian.
Carry on.

 

[refineryworker05]

You don't understand how taxes work.
You're probably Canadian.
Carry on.

Another bizarre post.

 

[DELACROIX]

Another bizarre post.

This is conflating trump's personal federal income taxes with the business income taxes of trump's corporate businesses. Those things are not the same. Trump's actual income is different from the earnings of his corporate businesses. So I have no idea what all of this is supposed to mean

This is nonsense. You are trying to present this reasonable hypothetical explanation for an extreme outlier and specific situation. The data exists. We can look it up. The top 1% of income earnings pay an average tax rate of 25-30% of their income in federal income taxes.
trump whose yearly income places him in the top .1% never pays federal income taxes. Like he never pays. you know how we know he never pays he won't release any tax returns to prove what he pays.
The average person in trump's income and wealth status pays at least 100's of thousands of dollars year after year in federal income taxes, but somehow trump and his attorney's have figured out a way to legally pay nothing year after year, that other wealthy high income people can't come close to matching. This is the specific reality of what you are trying to rationalize. It doesn't make any sense. It would mean that trump's businesses never make money and always lose money year after year after year, yet he is somehow extremely wealthy with a high income year after year. They have 18years of his tax returns he never pays Make it make sense.

.....WHO CARES!!!!....Bizarre enough for U....

 

[fishtm2001]

It's kind of funny there's a lot of people here bitching about the wealthy not paying their fair share of taxes , but no mention of the fact that most of them are Democrats ! It's also interesting too about the timing of this whole thing right before a debate and election , just like the last time there was a debate !!!

Got a link supporting "... bitching about the wealthy not paying their fair share of taxes , but no mention of the fact that most of them are Democrats !"?

 

[fishtm2001]

Richard Painter, who served as chief ethics attorney in Republican George W. Bush’s White House, also noted that Trump-owned companies have declared bankruptcy six times, raising the question: Why have lenders been willing to keep risking loans of such enormous amounts?
“Why would banks assume the risk on these loans?” Painter said. “Or did someone else quietly assume risk of that loan for the bank to make it happen?”

 

[DriveInDriveOut]

Richard Painter, who served as chief ethics attorney in Republican George W. Bush’s White House, also noted that Trump-owned companies have declared bankruptcy six times, raising the question: Why have lenders been willing to keep risking loans of such enormous amounts?
“Why would banks assume the risk on these loans?” Painter said. “Or did someone else quietly assume risk of that loan for the bank to make it happen?”

You Democrats sure do love your conspiracy theories!