Trump stiffs the IRS

[Swerd]

The NY Times reports that Trump has paid no federal taxes for 10 out the last 15 years. In 2016 & 2017, he paid $750 each year.

This makes it official. He’s going to wear an orange jump suit.

Trump paid little to no federal income taxes over several years as he piled up losses and debt, NYT reports — CNBC

President Donald Trump's businesses have hemorrhaged hundreds of millions of dollars over the last two decades, according to The New York Times.

apple.news

 

[mazersteven]

 

[Old Onkyo]

Drain the swamp and what do you find....

 

[Ponzio]

The NY Times reports that Trump has paid no federal taxes for 10 out the last 15 years. In 2016 & 2017, he paid $750 each year.

This makes it official. He’s going to wear an orange jump suit.

Trump paid little to no federal income taxes over several years as he piled up losses and debt, NYT reports — CNBC

President Donald Trump's businesses have hemorrhaged hundreds of millions of dollars over the last two decades, according to The New York Times.

apple.news

Not really shocking, we’ve been underwriting incompetent businessmen for years for their failures or in Trump’s case, hiring a good accountant to dodge paying their companies taxes.

And as much as I’d like to see him in the male version of Orange Is The New Black series, I highly doubt he will be prosecuted, ‘cause of that whole past president thingy and his die-hard MAGA boys & girls will pitch-a-bitch.

He didn’t change his domicile from New York to Florida on a whim. He knows the United States District Court for the Southern District of New York is waiting for him to finish his term to prosecute him on various charges.

How far down the cesspool has this country gone?

Normally any presidential candidate would’ve dropped out of the race by now with this kind of revelation and 205,000 people dead on his little hands. Not now, it just emboldens him, with a Republican party who will do anything to hold onto power and enables this type of behavior.

Shame and decency it seems are foreign concepts anymore, even after it’s revealed. And to a degree we’re all complicit in his crimes, by not demanding that our senators and congressmen/women do something about it.

 

[Alex2507]

In 2016 & 2017, he paid $750 each year.

Stormy Daniels probably paid more.

 

[Irvrobinson]

This makes it official. He’s going to wear an orange jump suit.

If only that were true, but more likely the worst-case scenario is that he might have to pay some back taxes and penalties. The combination could cost him millions, though I highly doubt it, but prison time is, IMO, a 1:1000 shot.

The two most likely problems he runs into are what constitutes a valid business loss and what qualifies as a valid business expense. Both are subject to interpretation, the investigations are tedious and time-consuming, and Trump has probably hired CPA and JD superstars who will be up against the best GS-15s the government has to offer. And it could take years to resolve the mess.

 

[Swerd]

OK, it was late Sunday night when I saw that news report. So far, I haven't seen anything that is directly criminal about Trump's tax returns. But I also haven't seen anything that rules it out.

For what it's worth, Stormy Daniels took a lie detector test – and passed. One of Trump's previous personal attorneys, John Dowd, reportedly claimed Trump should never testify under oath. Dowd claimed he was incapable of not perjuring himself, and could "end up in an orange jump suit". When I saw the tax returns story last night, I got excited.

 

[Alex2507]

last night, I got excited.

Call Stormy!

 

[highfigh]

How much he pays has to do with how the rules are used against the IRS and I'm going to bet that he has some really good tax lawyers, so he's set up as some kind of entity that doesn't actually require him to be paid directly, or have much tax liability. The people who use the IRS against itself don't pay much, if at all and it takes a long time to get to the point where they're found to have skirted the tax laws. Warren Buffet has owed taxes for several years and at his level, it costs far more than what Trump would owe. Make them pay.

Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002

Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002

www.huffpost.com

Al Sharpton has had his own problems with the IRS-

Fact check: Stacey Abrams paid outstanding taxes, but the Rev. Al Sharpton still owes

Financial disclosures reveal the high-profile Democrats paid off individual income taxes. We rate this claim partly false.

www.usatoday.com

The IRS would need a crystal ball to guess how people will screw the system.

 

[Hetfield]

How much he pays has to do with how the rules are used against the IRS and I'm going to bet that he has some really good tax lawyers, so he's set up as some kind of entity that doesn't actually require him to be paid directly, or have much tax liability. The people who use the IRS against itself don't pay much, if at all and it takes a long time to get to the point where they're found to have skirted the tax laws. Warren Buffet has owed taxes for several years and at his level, it costs far more than what Trump would owe. Make them pay.

Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002

Warren Buffett's Berkshire Hathaway Owes Taxes Going Back To 2002

www.huffpost.com

Al Sharpton has had his own problems with the IRS-

Fact check: Stacey Abrams paid outstanding taxes, but the Rev. Al Sharpton still owes

Financial disclosures reveal the high-profile Democrats paid off individual income taxes. We rate this claim partly false.

www.usatoday.com

The IRS would need a crystal ball to guess how people will screw the system.

Ha ha what does Al Sharpton have to do with this? You keep making excuses for a "wealthy man" to pay less in taxes for the year than I will this week alone.

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[highfigh]

Ha ha what does Al Sharpton have to do with this? You keep making excuses for a "wealthy man" to pay less in taxes for the year than I will this week alone.

Sent from my Pixel 4 XL using Tapatalk

I'm not making excuses for anyone- wealth shouldn't absolve anyone of their tax debt. The problem is that the IRS makes it possible for the tax code to be abused.

 

[Hetfield]

I'm not making excuses for anyone- wealth shouldn't absolve anyone of their tax debt. The problem is that the IRS makes it possible for the tax code to be abused.

No, politicians do that because we have a legal bribery system in your county. Go on Twitter and looks at all the maga kooks saying how smart and brilliant he is. Rubes cheer on a supposedly wealthy man paying less taxes than someone working at wendy's.

Sent from my Pixel 4 XL using Tapatalk

 

[highfigh]

No, politicians do that because we have a legal bribery system in your county. Go on Twitter and looks at all the maga kooks saying how smart and brilliant he is. Rubes cheer on a supposedly wealthy man paying less taxes than someone working at wendy's.

Sent from my Pixel 4 XL using Tapatalk

You're right- blaming the IRS by itself is like wagging a dog by its tail.

I would like to see the total of debt that has gone unpaid by the wealthy- it would probably pay for a good portion of universal health care. At the least, it would house and feed a lot of people.

 

[Ponzio]

The IRS is just enforcing the loophole laden tax laws our senators and congress men/women have passed. That's why they need to be voted out.

The IRS is just a convenient target, while the criminals walk the streets and in the halls of the Senate & Congress, laughing at us every day, as rubes and gullible fools.

 

[Hetfield]

The IRS is just enforcing the loophole laden tax laws our senators and congress men/women have passed. That's why they need to voted out.

The IRS is just a convenient target, while the criminals walk the streets and in the halls of the Senate & Congress, laughing at us every day, as rubes and gullible fools.

But if you read the full story it makes clear this guy is an absolute terrible businessman. It's what I have said all along, the apprentice is what he was living on. He is such a con man, it astounds me people keep falling for his BS.

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[trochetier]

It is well known rich and specially filthy rich don't pay their fair share of taxes.

In case of Trump he is the definition of FILTHY!

 

[Irvrobinson]

The IRS is just enforcing the loophole laden tax laws our senators and congress men/women have passed. That's why they need to voted out.

The IRS is just a convenient target, while the criminals walk the streets and in the halls of the Senate & Congress, laughing at us every day, as rubes and gullible fools.

IMO, there are two root causes of the inefficiency of our tax codes. First, Congress tries to "encourage" or "discourage" certain behaviors with the tax laws, and these are often the result of intense lobbying. I've ranted about some of these problems in previous posts in other threads. The other is that we somehow think that progressive flat tax rates are a bad idea. How about no deductions, no exemptions, no differentiating between wage income and investment income, no special consideration for LLCs and S-corps, or whatever? But somehow every year the tax laws get more complicated, which makes them more subject to cheating. And in my experience it isn't just billionaires who are doing this. Millions of people cheat or stretch the law, especially in my experience a lot of small to medium business owners.

 

[Ponzio]

I have found this to be great therapy for these troubling times ...
https://tinyurl.com/y6qlbe9h

... and of course voting.

 

[Irvrobinson]

It is well known rich and specially filthy rich don't pay their fair share of taxes.

Says who? Bernie and AOC? The top 1% of taxpayers pay about 40% of federal income taxes. The top 10% pays about 70% of federal income taxes. In New York City, the top 5% of earners pays about 60% of income taxes to the city. How is this not their fair share? I suppose anyone who makes $1 more than you do should pay more taxes.

 

[trochetier]

The IRS is just enforcing the loophole laden tax laws our senators and congress men/women have passed. That's why they need to voted out.

The IRS is just a convenient target, while the criminals walk the streets and in the halls of the Senate & Congress, laughing at us every day, as rubes and gullible fools.

The rich actively lobby Congress for benefits so the get it. That's called constituent service.

How many even voice your opinion or write to your House Member or Senator for specific policies and causes? MINUSCULE!! I will go as far as saying do you even know how to contact your elected members?!

Thanks to SCOTUS ruling on Citizens United unlimited money now can get unlimited attention with the elected members. How many of the voters ever even paid attention to this abomination of Democracy or even written to your elected members to enact a Bill to make it illegal?

The problem lies with us the voters!! Calling member of Congress criminals is simply lazy and passing the buck. VOTING is not enough. In a democracy it is active citizenry makes the government of the people, by the people, and for the people.