NYT publishes Trump tax returns
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The US tax code is written by a big group of sleazy rich people. Why would it be a surprise that it benefits sleazy rich people like DJT?
Still, he's apparently continuing to claim it's all false, and he pays 10's of millions in tax.
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hops in DeLorean
sets dial back to 1995
hits 88 mph
finds 1995 self"In 25 years you will bang more chicks than George Michael and make more money than Donald Trump."
high fives
hops back in DeLorean"Now look here, you Baltic gas passer... " - Mik, 6/14/08
The saying, "Lite is just one damn thing after another," is a gross understatement. The damn things overlap.
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The NYT is saying he appears to be calling employee SS and taxes his taxes.
Debt's a funny thing - I could live the rest of my life on a tiny proportion of what he owes, and yet he's the one with the golden toilet and shower combination.
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hops in DeLorean
sets dial back to 1995
hits 88 mph
finds 1995 self"In 25 years you will bang more chicks than George Michael and make more money than Donald Trump."
high fives
hops back in DeLorean@George-K said in NYT publishes Trump tax returns:
hops in DeLorean
sets dial back to 1995
hits 88 mph
finds 1995 self
"In 25 years you will bang more chicks than George Michael and make more money than Donald Trump."
high fives
hops back in DeLoreanLol
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I don't expect Ax to have sense enough to understand this, but Jon certainly knows better.
I looked it up - just the golf courses alone generated 1.9 billion dollars in profit during his first 3 years in office. Now this will come as a shock to Ax, but it shouldn't surprise Jon... all his various businesses arent just piled together and reported on his personal income taxes. Each one of them will be its own corporation, with its own tax filing. A single golf course most likely will be several corporations. A hypothetical example might be.. golf course A is a corporation. There are golf carts for rent, so there would be a golf cart rental corporation that owns and maintains the golf carts, and the golf course rents space to the golf cart corporation. The cart corporation files taxes on cart rental revenue, the rent it pays the course is shown as an expense on the cart corporation's taxes, and shown as income on the course corporation. But until Trump writes himself a check none of that money gets reported on Trumps personal tax filing as income. They have a club. It should be a separate corporati9n. The club sells alcoholic beverages - the liquor and beer licenses belong to another corporation. They sell food. The restaurant will be another corporation, and so on. A single golf course could have a couple of dozen separate corporations, each one filing it's own separate taxes, and combined that one course could generate ten of millions of dollars in profits, but if Trump doesn't transfer any of it to his personal bank account, not one red cent will show up on his tax filing.
This is perfectly legal, and perfectly normal. Each of those corporations have the legal right to depreciation schedules to lessen their taxes , and all the other deductions that any other corporation gets to take. Next, suppose that over the last 20 years you had paid taxes on and banked a million dollars each year. That's 20 million in the bank with the taxes already paid on it, not subject to more taxes. This year you didn't pay yourself a single penny, but paid your personal expenses out of that 20 million. You would not owe a penny in taxes, even if you spent the entire 20 million.
That's why this "bombshell story" is ridiculous, and doesn't tell you a single thing about the man's income. Where will he get the 400 million, you ask? By simply writing himself a paycheck out of one of his corporations. He will then owe income taxes on it, but there will be deductions available to lessen the taxable portion, and of course he can simply write it as a loan and owe no taxes on it.
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The big scandal is the fact that he spent $70,000 on hair-styling.
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I don't expect Ax to have sense enough to understand this, but Jon certainly knows better.
I looked it up - just the golf courses alone generated 1.9 billion dollars in profit during his first 3 years in office. Now this will come as a shock to Ax, but it shouldn't surprise Jon... all his various businesses arent just piled together and reported on his personal income taxes. Each one of them will be its own corporation, with its own tax filing. A single golf course most likely will be several corporations. A hypothetical example might be.. golf course A is a corporation. There are golf carts for rent, so there would be a golf cart rental corporation that owns and maintains the golf carts, and the golf course rents space to the golf cart corporation. The cart corporation files taxes on cart rental revenue, the rent it pays the course is shown as an expense on the cart corporation's taxes, and shown as income on the course corporation. But until Trump writes himself a check none of that money gets reported on Trumps personal tax filing as income. They have a club. It should be a separate corporati9n. The club sells alcoholic beverages - the liquor and beer licenses belong to another corporation. They sell food. The restaurant will be another corporation, and so on. A single golf course could have a couple of dozen separate corporations, each one filing it's own separate taxes, and combined that one course could generate ten of millions of dollars in profits, but if Trump doesn't transfer any of it to his personal bank account, not one red cent will show up on his tax filing.
This is perfectly legal, and perfectly normal. Each of those corporations have the legal right to depreciation schedules to lessen their taxes , and all the other deductions that any other corporation gets to take. Next, suppose that over the last 20 years you had paid taxes on and banked a million dollars each year. That's 20 million in the bank with the taxes already paid on it, not subject to more taxes. This year you didn't pay yourself a single penny, but paid your personal expenses out of that 20 million. You would not owe a penny in taxes, even if you spent the entire 20 million.
That's why this "bombshell story" is ridiculous, and doesn't tell you a single thing about the man's income. Where will he get the 400 million, you ask? By simply writing himself a paycheck out of one of his corporations. He will then owe income taxes on it, but there will be deductions available to lessen the taxable portion, and of course he can simply write it as a loan and owe no taxes on it.
@Larry said in NYT publishes Trump tax returns:
I looked it up - just the golf courses alone generated 1.9 billion dollars in profit during his first 3 years in office.
Nonsense.
Only non-witches get due process.
- Cotton Mather, Salem Massachusetts, 1692
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@Larry said in NYT publishes Trump tax returns:
I looked it up - just the golf courses alone generated 1.9 billion dollars in profit during his first 3 years in office.
Nonsense.
@jon-nyc said in NYT publishes Trump tax returns:
@Larry said in NYT publishes Trump tax returns:
I looked it up - just the golf courses alone generated 1.9 billion dollars in profit during his first 3 years in office.
Nonsense.
I stand corrected. The figure is for all his businesses, and it was gross, not net. Still, that's far from being broke, and everything else I said still stands.
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Get your merchandize:
https://store.joebiden.com/I-Paid-More-In-Taxes-Than-Donald-Trump-Vinyl-Stickers-2-Pack/
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Are you aware that 1. Yahoo news is even more leftwing propagandists than the New York Times, are utterly useless as a news source, and that obtaining and making public another person's tax returns is a federal crime?
@Larry the article is from The NY Times. Can be read with out a subscription.
Yes, I realize that releasing someone’s taxes without their knowledge is a crime and if the person is caught, they should be procsecuted.
Do you believe that what was released was correct information on President Trump?
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Now that the information is out there, who cares whether that was legal?
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@Larry the article is from The NY Times. Can be read with out a subscription.
Yes, I realize that releasing someone’s taxes without their knowledge is a crime and if the person is caught, they should be procsecuted.
Do you believe that what was released was correct information on President Trump?
@taiwan_girl said in NYT publishes Trump tax returns:
@Larry the article is from The NY Times. Can be read with out a subscription.
Yes, I realize that releasing someone’s taxes without their knowledge is a crime and if the person is caught, they should be procsecuted.
Do you believe that what was released was correct information on President Trump?
No. No, I don't. It has been sensationalized at every opportunity, and much of it is presented using half truths. For example, the bullet point about how "Ivanka Trump has been on the payroll, further reducing his taxes". Ivanka Trump WORKS THERE. She's SUPPOSED to get a paycheck. There's nothing wrong with that. She paid taxes on it, so it's a silly point. Most of it is almost as silly.
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@Klaus said in NYT publishes Trump tax returns:
Now that the information is out there, who cares whether that was legal?
Donald Trump. If a newspaper released ten or twenty years worth of your tax returns, you'd care too. Espe silly if it had been released by a bunch of jackals who were bent on destroying you.
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@taiwan_girl said in NYT publishes Trump tax returns:
@Larry the article is from The NY Times. Can be read with out a subscription.
Yes, I realize that releasing someone’s taxes without their knowledge is a crime and if the person is caught, they should be procsecuted.
Do you believe that what was released was correct information on President Trump?
No. No, I don't. It has been sensationalized at every opportunity, and much of it is presented using half truths. For example, the bullet point about how "Ivanka Trump has been on the payroll, further reducing his taxes". Ivanka Trump WORKS THERE. She's SUPPOSED to get a paycheck. There's nothing wrong with that. She paid taxes on it, so it's a silly point. Most of it is almost as silly.
@Larry said in NYT publishes Trump tax returns:
@taiwan_girl said in NYT publishes Trump tax returns:
@Larry the article is from The NY Times. Can be read with out a subscription.
Yes, I realize that releasing someone’s taxes without their knowledge is a crime and if the person is caught, they should be procsecuted.
Do you believe that what was released was correct information on President Trump?
No. No, I don't. It has been sensationalized at every opportunity, and much of it is presented using half truths. For example, the bullet point about how "Ivanka Trump has been on the payroll, further reducing his taxes". Ivanka Trump WORKS THERE. She's SUPPOSED to get a paycheck. There's nothing wrong with that. She paid taxes on it, so it's a silly point. Most of it is almost as silly.
I think the “concern” was that she was an employee and on the payroll, and at the same time receiving money as a consultant from the same company, which they can “write off”. No idea if it were legal or not.
And, as been said before
If you suppprt President Trump - “ So what? He is still President Trump. This doesn’t change anything.”
If you are against President Trump - “See! I told you! He is still President Trump and hasn’t changed at all!”
Going to change only a few people mind. My concern would by what @jon said. If you owe a lot of money to someone,, that could be a worry.
