The New York Times is undoubtedly pleased that it published more than two decades' worth of Donald Trump's tax returns. The self-congratulations are premature. The Times' article reveals that Trump was telling the truth all along about his audit. We can also see that Obama's policies benefited rich people. Finally, because the policies show how our complicated progressive tax system will always benefit rich people with good accountants, the Times unwittingly advanced the argument for a flat tax.
The Times' intrepid reporters are not interested in the fact that Joe Biden used his political connections to enrich his family, especially Hunter. They don't write that (to date) there is unrefuted evidence that Biden blocked the new Ukrainian government's efforts to root out corruption by withholding American money until Ukraine stopped investigating a corporation that paid Hunter for doing nothing. You'd think a major news outlet would find that intriguing a story involving political corruption and foreign meddling, but the Times has given it a hard pass.
Read more ....
Update #1: NYT ‘Bombshell’ Report On Trump Taxes Missing One Key Word: ‘Illegal’ (Daily Wire)
Update #2: NYT Debunks Three Media Conspiracy Theories With Trump’s Tax Returns (Legal Insurrection)
WNU Editor: I have started, participated in, managed, and run a few companies in my lifetime .... including in real estate. In fact I am still involved in real estate, albeit now in a non-operational role. From what I understand about US taxes, I am not surprised on how President Trump handled his affairs (that is if the New York Times story is true). You have your good years, and you have your bad years. And your tax returns will reflect that. But what I am surprised about is to learn that he has given his Presidential salary to charity every year for a total of $1.4 million. That is something that the main stream media is not talking about.
The only good years he has is when he is a "TV star". His investments are as bad as his hair.
ReplyDeleteNew York Times’ Trump Tax Return ‘Bombshell’ Is A Joke
ReplyDeleteThe author of the piece cites law (Section 7213 of the Internal Revenue Code). Multiple people in the NYT and elsewhere should go to prison.
"The only good years he has is when he is a "TV star". His investments are as bad as his hair."
Most movies do not make a profit. Movie studio accountants see to it. One thing I picked up in accounting is that there are 2 or 3 different ways to account. The sin is if you would change form one method to another midstream to not pay taxes.
The author of the piece notes that Trump- does everything a small business owner does except for scale. The scale is larger. Trump does everything that a person who travels for business or a military reservist does. It is okay for a reservist but not a business man.
Trumps hair cuts maybe expensive, but he is not getting the, in a small town in the midwest. He is getting them on the east coast, where blue politicians have the taxes so high that barbers must charge high prices and upscale barbers even more. So long as the barber's revenue for the hair cut matches the customer's expensing, there is not problem
Fun Fact: The most expensive haircut to date was by Slick Willie Clinton. Billy had his at an airport tarmac and planes had to pointer and burn jet fuel.
There is a difference between tax avoidance (legal) and tax evasion (ILLEGAL). Democrats conflate the two although the practise tax avoidance also. What can you expect from dirty, nasty, rotten Democrats. They conflate illegal and legal immigration.
Am engineer once told me he made a grave mistake once. He offered to do a job for a set amount of money during negotiations and his offer was accepted immediately. Negotiations were over in a flash. He realized that he had underbid and the job was worth more.
There has to be that tension there between buyer and seller to properly price things. similarly IMO there has to be tension between taxer and taxee, IMO.
Do not call a loophole what congress wrote into law. It is not a loophole, That analogy has been used since the 1970s. Politicians who use that terminology are stuck in the 70s and govern no better. If you do not like the law change the law in broad day light.
In the article I linked it recounts how Joe & Jill ran up the hill and took a tax dodge. Oh year it was legal, but I will call it am dodge since China Joe does. It was a 1/2 million dodge on 17 million of income.
Some have said thew the NYT is recycling most of this. That is it is not new and not news. But it is right before an election. So is the NYT a newspaper or an ad agency for Democrats.
Here is a prediction. If Joe Biden wins ... I mean if the Democrats win by cheating... Joe Biden is TWD... the US will be no better than Lukashenko. They will have better reasons for locking people up such as tax avoidance doing the same thing Democrats do or science denial, but that is all. The transformation to to the 3 great warring states of 1984 will be well under way and the inexorable iron law of oligarchy will have been tested once again and again not proven false.
"In 2017 and 2018, Joe and Jill Biden ran $13 million of profits from speaking and writing gigs through a Subchapter-S corporation, allowing them to avoid, not evade, $500,000 in Social Security and Medicare payroll taxes."
ReplyDeleteTrump did what the law allowed. Trump did not have dealings with the Russians. Trump did not pay only $750 in taxes in 2016 and 2017 but, instead, paid millions in taxes. And one more thing: Biden, who sat in the Senate for over thirty years, was almost certainly involved in crafting and voting for the laws that enabled Trump to structure his taxes as he did. If people think Trump paid too little, they need to blame Biden.
ReplyDeleteBiden made the law.
Trump used the law.
Biden complained about the law.
Please!
ReplyDeleteWE know how the tax system works. The real issue: Trump owes close to a billion dollars. We do not know where he owes this money...his own son said in one deal the money came from a Russian bank. He is the leader of the nation and owing money to an unknown source is a security issue plain and simple. If you can not see that, Lord help us.
No one has "debunked" the Times article. Except Trump, who could show it to be fake by showing the taxes to make his case. He has not. He will not.
11:50 AM
ReplyDeleteQuit being a complete diseased asshole or foreign troll.
"Trump owes close to a billion dollars" Trump owes shit. He has formed a number of LLC or other legal entities. They will never come to his door. They will go to the door of the legal entities.
A billion dollars is a LARGE, LARGE, LARGE number! oh my!
This link is for you, you pustulent asshole.
https://dilbert.com/strip/1994-03-24
The loan is measure against the assets promised against them and/or the annual revenue or profit that the entity being loaned the money.
It is all about ratios and percentages.
Why don't you announce the loan total in terms of pennies or centavos. It would be a bigger #, O MY!
In the troll farm does your boss take you out back and ream you, if you fail? You must have a large and sore ass.
As president, he has received more money from foreign sources and U.S. interest groups than previously known. The records do not reveal any previously unreported connections to Russia.
ReplyDeleteIt is important to remember that the returns are not an unvarnished look at Mr. Trump’s business activity. They are instead his own portrayal of his companies, compiled for the I.R.S. But they do offer the most detailed picture yet available.
Below is a deeper look at the takeaways. The main article based on the investigation contains much more information, as does a timeline of the president’s finances. Dean Baquet, the executive editor, has written a note explaining why The Times is publishing these findings.
---We do not have the full story as yet. We do not know what countries he owes money at, though his son once boasted that they borrowed money from Russian bank. This is not a private businessman but the head of our govt who owes big sums to...???and thus is it a security issue.
It is not recycled stuff. If you think so, post what you have to prove it. Yes. Some of this is legal working within the tax code. Some is seemingly not and NY State going after records for that. And yes: he boAsted how much he pays in taxes and he is bullshitting. And Biden made his taxes private today; Trump will claim, wrongly, that he can not proved his because he is under audit. Wonder why he is being audited.?
Call all the names you want. It is your nature. It is Trump's nature.
The $72.9 million refund has since become the subject of a long-running battle with the I.R.S.
ReplyDeleteWhen applying for the refund, he cited a giant financial loss that may be related to the failure of his Atlantic City casinos. Publicly, he also claimed that he had fully surrendered his stake in the casinos.
But the real story may be different from the one he told. Federal law holds that investors can claim a total loss on an investment, as Mr. Trump did, only if they receive nothing in return. Mr. Trump did appear to receive something in return: 5 percent of the new casino company that formed when he renounced his stake.
In 2011, the I.R.S. began an audit reviewing the legitimacy of the refund. Almost a decade later, the case remains unresolved, for unknown reasons, and could ultimately end up in federal court, where it could become a matter of public record.
And Parrot posts at 4:53 and 5:03 Vast tracts of articles.
ReplyDeleteSo There is a refund in dispute. It means what> We all know that a guy who says numbers confuse them and "I will have to ask my accountant" does not know what it means.
Question why does a person have an accountant? Usually to avoid taxes.
So what is this person about? Tax avoidance for me, but no tax avoidance for thee?
Seems that way.
Either that or dud does not know how to fill out a 1040EZ and yet he opining. Trailer trash knows how to file a 1040EZ.
Why did NYT want the tax return. They were looking for payment to Stormy Daniels and they didn't find it. Once again the shit for brains NYT fails, but they are off to the races with another lie.
Earth to petulant parrot. I do not care about Stormy Daniels. After all the sex in Camelot, LBJ's conquests and Clintons rapes, I d not not care if Trump paid someone for a consensual relationship. Just using liberal rules here. If it was 2 adults and it was consensual, then it is not our business.
Have you considered that if the IRS has not proven anything in 9 years there is no there there?