Trump May Have Paid No Federal Income Tax for the Past 18 Years

Discussion in 'Politics, Religion, Social Issues' started by unobtainium, Oct 1, 2016.

  1. unobtainium macrumors 68000

    Joined:
    Mar 27, 2011
    #1
    • http://nyti.ms/2dupGDz

      The New York Times has obtained partial tax returns from 1995 showing a losses of over $900 million.

      The gist is this: Trump has used tricks and loopholes to avoid paying almost anything into the system. He's a terrible businessman who has lost hundreds of millions for shareholders while shielding his own assets.

      Trump is everything that's wrong with our financial system, and he's trying to capture working class and middle class votes - from poor people who pay more taxes than he does!
     
  2. jkcerda macrumors 6502

    jkcerda

    Joined:
    Jun 10, 2013
    Location:
    Criminal Mexi Midget
    #2
    taxation is theft, who made the tax loopholes? politicians.
     
  3. Fancuku macrumors 6502a

    Fancuku

    Joined:
    Oct 8, 2015
    Location:
    PA, USA
    #3
    Man figured out how to not pay any taxes to the feds. A genius and an American hero. :D
     
  4. APlotdevice macrumors 68040

    APlotdevice

    Joined:
    Sep 3, 2011
    #4
    No, our soldiers are American heroes. Soldiers who are compensated and cared for with money that was collected through taxes.
     
  5. WarHeadz macrumors 6502a

    WarHeadz

    Joined:
    Aug 30, 2015
    Location:
    Los Angeles
  6. thekev macrumors 604

    thekev

    Joined:
    Aug 5, 2010
    #6
    How else would you pay for anything? It's either taxes or further currency inflation, which is a stealth tax in itself.
     
  7. unobtainium thread starter macrumors 68000

    Joined:
    Mar 27, 2011
    #7
    Theft is living in the U.S. and benefiting from our military, services, currency, and markets, without paying anything into the system. If you don't want to pay taxes, move to a country where no one pays them -- you won't like it there, I guarantee it, but hey it's an option.
     
  8. jkcerda macrumors 6502

    jkcerda

    Joined:
    Jun 10, 2013
    Location:
    Criminal Mexi Midget
    #8
    like everyone who gets the EIC?
    like people on social assistance? plenty received more than they put in..... thieves :D
     
  9. Jess13 Suspended

    Jess13

    Joined:
    Nov 3, 2013
    #9
    Not trying to hijack the thread, but since it is related to Trump not releasing his tax returns while under audit.


    Legal Experts Side With Trump; It Would Be Crazy to Release His Taxes During Audit

    http://lawnewz.com/politics/legal-e...lly-stupid-to-release-his-taxes-during-audit/

    “Almost every lawyer will tell you the same thing, when you are under audit, you finish the audit before you release,” he said.

    In February, when this issue was first brought up by Trump’s Republican opponents, we reached out to high profile tax attorneys and accountants who typically deal with high-net worth individuals. We posed two questions to them: 1) What would you advise your clients? 2) Do Trump’s statements (above) seem like a plausible explanation to you?

    Here are their responses:

    Robert Barnes, a Los Angeles based attorney:

    “I see some of my colleagues would tell their clients to release their tax returns to the public during an audit. Ask them to name a single client they actually gave that advice to. I think that would be legal malpractice, and would recommend their clients sue them if they gave that advice.”

    Robert Kovacev, a Washington D.C. based attorney:

    “I would absolutely advise a client not to release returns under audit to the public.”

    Robert Mckenzie, a Chicago based attorney:

    “I would advise my client that there could be huge risks in releasing complex returns during an audit.”

    Aaron Nocjar, Washington D.C. based attorney:

    “To answer your question, yes, this could be a plausible explanation. In an audit of a particular tax year, prior tax years can be called into question as well. Sometimes tax-related statutes of limitations will prevent such an inquiry (but not always). I imagine that Donald Trump is well advised from a tax perspective, particularly since his business roots are in real estate development.”

    Lester Weingarten, New York City based accountant:

    “If his return is under audit, I would advise not to release it to the public as there could be an embarrassing upward adjustment or they could “bless” the return by not making any changes which would be an affirmation of the accuracy of the return (or they could make a highly unlikely downward adjustment).”


    I suspect Trump won’t release his returns because he is hiding reputation-damaging information, such as not being worth anywhere near what he publicly claims to be worth.
     
  10. unobtainium thread starter macrumors 68000

    Joined:
    Mar 27, 2011
    #10
    Sigh...basic principles of progressive taxation:

    The more money you've made in this country...the more business you've conducted, the larger your workforce, etc. .. the more you have gained from our services, military, currency, and markets. A huge corporation like Trump's has made enormous use of our services. Every one of his real estate developments is serviced by our roads, our sewers, our power, our firefighters, our police officers, our school districts, etc. Every one of his customers and employees makes use of our education system, our health care systems, our roads, our sewers/power/currency/financial markets/military protection/etc. Without all of that, Trump's business isn't possible. Since he has made hundreds of millions, he OWES a proportionally larger amount back into the system.

    It's not rocket science.
     
  11. jkcerda macrumors 6502

    jkcerda

    Joined:
    Jun 10, 2013
    Location:
    Criminal Mexi Midget
    #11
    nice deflectors, just like everyone else trumps tax deductions are based on what he made & what he lost.
     
  12. ibookg409 Suspended

    ibookg409

    Joined:
    Apr 20, 2016
    Location:
    Portsmouth, NH
    #12
    Taken from the article....

    "Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said tax rules that are especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period."

    He used tax laws at the time to get the best deal. Tax laws he didn't pass. Every person here takes advantage of the tax laws every year to pay as little tax as possible. Some of us even hire people who are familiar with the laws to get us the most money back.

    If you think the tax laws benefit the rich too much then advocate your representatives to change them. But anyone who has an issue with Trump staying within the confines of the law to pay as little as possible is a goddamn hypocrite.
     
  13. MadeTheSwitch macrumors 6502a

    MadeTheSwitch

    Joined:
    Apr 20, 2009
    #13
    There is no proof that he is even under an audit. Just because Trump says he is, doesn't mean he is. Trump lies a lot. He could release a document from the IRS that shows he is being audited but he has refused to do so when asked. Hmmmm, now why would that be?

    http://www.newsweek.com/where-trump-irs-tax-audit-letter-488904
     
  14. unobtainium thread starter macrumors 68000

    Joined:
    Mar 27, 2011
    #14
    He represents everything that's wrong with this country's rigged financial system. He represents the unfairness of what happened in 2008. Yet he's claiming to represent the working class?

    The returns also show he lost almost a billion dollars in 1995. And yet he campaigns as a smart businessman who knows how to "fix" our economy, which is doing just fine without him, thanks.
     
  15. Jess13 Suspended

    Jess13

    Joined:
    Nov 3, 2013
    #15
    True, it is possible he is lying.
     
  16. yaxomoxay macrumors 68000

    yaxomoxay

    Joined:
    Mar 3, 2010
    Location:
    Texas
    #16
    Is the IRS so incompetent that they receive 15 years of tax returns from Donald Trump (household name of a billionaire) with $0 in taxes and don't find anything illegal?
    Or more simply, he didn't do anything illegal?
     
  17. unobtainium thread starter macrumors 68000

    Joined:
    Mar 27, 2011
    #17
    All those lawyers would advise a private citizen not to release their returns while being audited. But he is running for President of the United States. He legally can, and should, just like every other presidential candidate.
     
  18. einmusiker macrumors 68030

    einmusiker

    Joined:
    Apr 26, 2010
    Location:
    Location: Location:
    #18
    Yeah but Obama is black and Hillary is a woman. Emails!!!!
     
  19. unobtainium thread starter macrumors 68000

    Joined:
    Mar 27, 2011
    #19
    No one is saying he did anything illegal. He exploited loopholes. So what, right?

    1) A billionaire who pays ZERO TAXES cannot possibly be appealing to working class voters who DO pay tax on their much more meager incomes, can he?
    2) A terrible businessman who loses over $900 million for his shareholders can't possibly inspire confidence in voters, can he??

    I mean, these are the main running points of his campaign - that he's a great businessman and a champion of the working class. His tax returns appear to explode those lies, so it's no wonder he won't release them.
     
  20. yaxomoxay macrumors 68000

    yaxomoxay

    Joined:
    Mar 3, 2010
    Location:
    Texas
    #20
    Well if the documents are real, the race is over unless something worse about HRC is exposed.

    Question: tax returns are personal, documents that are protected by privacy laws as almost no other document. If Gawker was fined so hard for a sex tape, isn't this worse and couldn't the NYT considered liable?
     
  21. MadeTheSwitch macrumors 6502a

    MadeTheSwitch

    Joined:
    Apr 20, 2009
    #21
    What Gawker went down for wasn't worth it. This is! :D
     
  22. yaxomoxay macrumors 68000

    yaxomoxay

    Joined:
    Mar 3, 2010
    Location:
    Texas
    #22
    I admit that if true and confirmed, and if what is in there is what is claimed, it's a huge scoop.
    I just wonder about the legal implications
     
  23. samiwas macrumors 65816

    Joined:
    Aug 26, 2006
    Location:
    Atlanta, GA
    #23
    But, here's the difference: most of us don't have friends in high places who can write laws specifically to benefit us. Saying "I follow the rules!" when people like you had the rules written does not inspire much.

    You forget that we live in the age of double-down ignorance. If you can prove to an ignorant person that they are ignorant, they will simply map up their ignorance to a new level.
     
  24. LizKat macrumors 68040

    LizKat

    Joined:
    Aug 5, 2004
    Location:
    Catskill Mountains
    #24
    Taxation is for paved roads, bridges.. roads and bridges that corporations and their owners get R permits for driving on when overweight... or they just take a chance and go anyway... who's gonna check on some backwoods county road... so suckers like us pay the taxes to have highway crews repave the pothole-ridden roads more often and suckers like us pay the state taxes to have a bridge rebuilt sooner, before it spills a deck full of passenger cars into the river.

    What's theft? Theft is thinking "too big to pay taxes" and "too busy making a buck to pay taxes."
     
  25. Zombie Acorn macrumors 65816

    Zombie Acorn

    Joined:
    Feb 2, 2009
    Location:
    Toronto, Ontario
    #25
    Call me when you get a recent tax return.
     

Share This Page