Trump stiffs the IRS

T

trochetier

Audioholic
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.
Source of your comment please!!
 
Old Onkyo

Old Onkyo

Audioholic General
We are talking about what Donald Trump paid in tax’s nobody else, not the tax code or anything.

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.


Al Sharpton has had his own problems with the IRS-


The IRS would need a crystal ball to guess how people will screw the system.
A new low for you Hifi, warren buffet and al sharpton, the tax code, anything but your guy is a crook and thief. Call a spade a spade, you can still vote for him. But the mental gymnastics people of your ilk are going through to justify it is incredible.
 
Irvrobinson

Irvrobinson

Audioholic Spartan
Source of your comment please!!
The IRS:


And for NYC:


There have been various NYC income tax problem stories in the news lately, so I just picked one with detailed statistics at random.
 
GO-NAD!

GO-NAD!

Audioholic Spartan
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.
If the IRS is anything like the CRA - and I suspect it is - when it comes to audits and tax evasion investigations, they go after the low-hanging fruit, i.e. those less able to hide their assets and/or can't afford to fight it out. The wealthier you are, the more you can afford to hire good accountants and tax lawyers to hide assets or negotiate sweetheart deals with the taxman.

 
WookieGR

WookieGR

Full Audioholic
The worse Trump gets the more his enablers double down on how great he is for being a horrible person. As long as clueless idiots support him and his web of lies the harder it will be to ever see the true America we once had.
 
Swerd

Swerd

Audioholic Warlord
We are talking about what Donald Trump paid in tax’s nobody else, not the tax code or anything.
I agree with Old Onkyo.

I posted this because Trump's previously hidden tax returns clearly demonstrate his long record of dishonesty. We must not tolerate that in presidents or presidential candidates.

Mentioning Warren Buffet or Al Sharpton is irrelevant. Neither of them are presidents, nor have they run for national elected office.

Blaming this on the tax code or the IRS also misses the point. All citizens taxpayers face the same federal tax code.

But I can mention a previous president, Tricky D!ck Nixon, who was run out of office because, among other reasons, the public was angered and dismayed when his tax returns were revealed. His highly questionable deductions resulted in ZERO taxes paid.
 
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Swerd

Swerd

Audioholic Warlord
The Trump tax deduction that made me laugh was the $70,000 deduction for hair styling while he was on that so-called reality TV show. $70,000 for that bad looking Elvis hairdo?

Trump has long had a reputation for stiffing small contractors for work they already did. He claimed he paid them what their work was really worth, despite the written contracts with them. I think he should have applied the same "business practice" to the hair stylist.
 
Ponzio

Ponzio

Audioholic Samurai
mtrycrafts

mtrycrafts

Seriously, I have no life.
...

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.

....
That is not the only reason. From what I remember, OJ moved to Florida for tax benefit reasons. So, I bet that may be another reason, more favorable tax treatment.
And, birds of a feather.... ;)
 
mtrycrafts

mtrycrafts

Seriously, I have no life.
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.

....
Al Capone comes to mind? ;)
 
mtrycrafts

mtrycrafts

Seriously, I have no life.
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.
It takes time to find all the laundering and criminal tax evasions and he may not live that long. Perhaps his family will pay being part of the company.
 
mtrycrafts

mtrycrafts

Seriously, I have no life.
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.


Al Sharpton has had his own problems with the IRS-


The IRS would need a crystal ball to guess how people will screw the system.
Well, Abrams didn't screw the system as that implies criminal activity.
It seems from the article that Abrams had family medical issues and needed to pay medical bills. So, IRS took a back seat on repayment . Net worth of $108k?
 
Old Onkyo

Old Onkyo

Audioholic General
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, the problem is Donald Trump cheated it. Hard for you to tell where the orange stops and the brown begins!
 
highfigh

highfigh

Seriously, I have no life.
We are talking about what Donald Trump paid in tax’s nobody else, not the tax code or anything.


A new low for you Hifi, warren buffet and al sharpton, the tax code, anything but your guy is a crook and thief. Call a spade a spade, you can still vote for him. But the mental gymnastics people of your ilk are going through to justify it is incredible.
He's not "my guy" but if he has gone fro so long without paying taxes, either he/his tax preparers/lawyers are in cahoots with someone at the IRS or somewhere higher up the food chain and in either case, someone needs to be prosecuted. If it was a favor from someone really high up, they need to be prosecuted, too.

My point in bringing up the tax code and Sharpton is that Trump isn't the first and he won't be the last to do this, if the claims are true (I haven't looked into it yet, so don't kill me before we see it all).

New low? Bite me. If you haven't thought about how taxes are avoided before dumping on someone who brings up possibilities, you're going after the wrong person. Jesus! How many times do I have to write that he needs to be prosecuted if it's proved that he broke laws? I don't care who is in that office, I want a clean government but our government is run by people who don't want that. Blame them, not me.

I don't remember seeing your age but this crap has been going on for longer than my years and I have a great memory, so I remember that a lot of corruption occurred in the early-'60s, when I was a kid. EVERY administration had bad people who skated.
 

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