I know you want no politics, but just to show you what kind of man he is, Donald Trump paid just $750 (£580) in federal income tax both in 2016, the year he ran for the US presidency and the first year of the White House, the New York times says. The newspaper- which says it obtained tax records for Mr Trump and his companies over two decades- also says he paid no tax at all in 10 of the previous 15 years.
Chronic tax avoidance. . . .
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Most of the strategies Trump used are at least arguably legal even if kind of ugly looking. The overall strategy is a house of cards though. He has to keep borrowing money to keep the unprofitable business afloat so that they can generate losses to offset against the few businesses that do generate a profit. In a normal world he would eventually have to pay that money back or loose everything. Not sure if we're living in a normal world.
texasSlick
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Under US tax law, rental income is not personal income, nor are stock dividends, or royalties. These are taxed under a separate system and at a fixed, not sliding rate.
A person whose owns a hotel receives rental income. A person who punches a clock and receives compensation for his labor, receives personal income and pays personal income tax.
So which type of income do you think DJT has?
While we are on this topic, Warren Buffet, the poster child of the 1% ers, receives $1 / yr compensation (personal income) as chairman of the board of his holding company. He also owns over 51% of Burlington Northern Railroad and thus receives over 51% of the railroads stock dividends. So how much personal income tax do you think he pays? Bernie Sanders proposes to provide free health care, college education and more by raising the personal income tax rate of the 1% ers to 92%. So, in the case of Warren Buffet, Bernie will do all this with Buffet's 92 cents. The point of this is, one must scrutinize every word that comes out of the mouth of a politition or someone with an ax to grind.
Slick
A person whose owns a hotel receives rental income. A person who punches a clock and receives compensation for his labor, receives personal income and pays personal income tax.
So which type of income do you think DJT has?
While we are on this topic, Warren Buffet, the poster child of the 1% ers, receives $1 / yr compensation (personal income) as chairman of the board of his holding company. He also owns over 51% of Burlington Northern Railroad and thus receives over 51% of the railroads stock dividends. So how much personal income tax do you think he pays? Bernie Sanders proposes to provide free health care, college education and more by raising the personal income tax rate of the 1% ers to 92%. So, in the case of Warren Buffet, Bernie will do all this with Buffet's 92 cents. The point of this is, one must scrutinize every word that comes out of the mouth of a politition or someone with an ax to grind.
Slick
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NPeteN
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Tax ain't the issue. We already knew he paid more to pornstars than he did to the government.
The REAL problem is that he personally owes 420 million (not his business, the man himself) coming due in the next few years and has no means of repaying it.
Whomever owns that debt owns the president.
The REAL problem is that he personally owes 420 million (not his business, the man himself) coming due in the next few years and has no means of repaying it.
Whomever owns that debt owns the president.
"Thanks, Obama! From the NYT:"
"So. I finally read the NYT Trump tax story because I wanted to see what line was being reported for taxes owed and I came across this about the $750 in 2016 and 2017. Per the NYT own story, Trump actually paid to the US Treasury $1 million in 2016 and $4.2 million in 2017."
Remember this?
Mission accomplished: Harry Reid has no regrets for lies about Romney
CNN photo In a revealing interview with CNN’s Dana Bash, departing Democratic Senate Minority Leader Harry Reid offered no regrets about lying in 2012 when he said that Republican Mi…
www.politicscentral.org
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Fast Eddie
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Is that true? It seems like rather a lot of money... (mild understatement there).
Perhaps it’s not real debt? Perhaps it’s a tax dodge that was legal in this country for a while whereby people who owned companies (big or small) could pay themselves in interest free loans, thus incurring no tax. The idea being that the loans were never paid, then when the person died, the loan was written off.
Highly unsavoury, but legal. Contractors who worked for the HMRC (UK tax collector) used the system with the full knowledge of the HMRC. As did celebrities who worked for the BBC, etc, etc. But the govt is now trying to prove it was not legal. Quite messy really (another mild understatement)...
NPeteN
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Read the Times article.
Deutsche Bank loans administered by the son of recently "retired" Supreme court Justice Roberts.
What do you mean "Retired"?
Justice Roberts has not retired, he is the Chief Justice of the supreme court.
I read it, and you have misstated what the facts are, as well as having the retired justice incorrect.
Try this headline instead:
Hotel and Land developer gets loans from banks.
NPeteN
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You are absolutely correct, that is my mistake. Meant Kennedy.
NPeteN
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Pick whatever headline you like, the facts remain the same. I won't push the point further.
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Bernhard... I'd worry more about the bank of England looking at negative interest rates :-(
I don't disagree with you there.
[QUOTE="Dan Kyle, post: 498042, member
"So. I finally read the NYT Trump tax story because I wanted to see what line was being reported for taxes owed and I came across this about the $750 in 2016 and 2017. Per the NYT own story, Trump actually paid to the US Treasury $1 million in 2016 and $4. 2 million in 2017
[/QUOTE]
I will ask, exactly who paid this money to the IRS,?
Was it D. Trump himself ? if so how did the reporter and the Editor of a prestigious newspaper like the New York Times miss this????
Or was it paid on behalf of the companies D. Trump owns, which is a different thing altogether.
There is some muddled thinking and information here, so, why will D Trump not clear it up instead of saying "fake news?"
And why will he not, I repeat not, issue a statement, in spite of previous requests, on the ammount of personal tax that he has paid to the IRS, if he has got absolutely nothing to hide?
"So. I finally read the NYT Trump tax story because I wanted to see what line was being reported for taxes owed and I came across this about the $750 in 2016 and 2017. Per the NYT own story, Trump actually paid to the US Treasury $1 million in 2016 and $4. 2 million in 2017
[/QUOTE]
I will ask, exactly who paid this money to the IRS,?
Was it D. Trump himself ? if so how did the reporter and the Editor of a prestigious newspaper like the New York Times miss this????
Or was it paid on behalf of the companies D. Trump owns, which is a different thing altogether.
There is some muddled thinking and information here, so, why will D Trump not clear it up instead of saying "fake news?"
And why will he not, I repeat not, issue a statement, in spite of previous requests, on the ammount of personal tax that he has paid to the IRS, if he has got absolutely nothing to hide?
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A Con by any other name is a Con.
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o0norton0o
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So you're playing the "How could the New York Times be wrong" card?? Seriously, that's never a factual argument... as evidenced below.
The Washington Post and The New York Times both won Pulitzer Prizes for reporting that bolstered the narrative that Trump and his associates committed treason by working with a foreign government to win an election. The two outlets shared a joint award from the Pulitzer board for national reporting:
The award was given by the pulitzer comittee for, in their own words,...
“For deeply sourced, relentlessly reported coverage in the public interest that dramatically furthered the nation’s understanding of Russian interference in the 2016 presidential election and its connections to the Trump campaign, the President-elect’s transition team and his eventual administration."
..... Which was a lie, and given the fact that the evidence that attempted to prove the lie was produced in scheme by democrats, there are really only 2 possible scenarios. Either these 2 extremely prestigious newspapers mentioned above are colluding with the democrats to sabotage Trump, or both newspapers are full of shit.... I think probably both...
Didn't the NYT force out editor Bari Weiss...
Resignation Letter — BARI WEISS
www.bariweiss.com
*These days I wouldn't read anyone's publication without a healthy scepticism....
So you're playing the "How could the New York Times be wrong" card?? Seriously, that's never a factual argument... as evidenced below
[/QUOTE)
Nicely side stepped my questions in my post without answering a single one of them you must have been a politician in your former life
If you read my post again I quoted;
"It has also obtained tax records for Trump and his companies and Trump has not any tax in 10 of the previous 15 years"
So, who's fault is that?
Just to show I have no basis, it now appears that Mitt Romney is another serious tax evader, as he himself has been getting rich by his tax avoidance schemes.
I personally don't care if they both claim tax relief on their toilet paper, - that is their business- and for you the public to scrutinise their tax returns, but I ask yet again, what tax returns?????
Between these two people, they have more tax avoidance schemes than there are holes in a wire mess colander !
Every President from Carter to Obama has filed their tax returns, but some of you lot don't appear to realise that it is you who is paying for this self obsessed obsession of pocketing your money - but will they give you cheaper taxes? Dream on.
That is the real skill of conning the general public...............
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