If Trump wasn't such a moron he could easily respond to that whole issue by pointing out that every major donor for Hillary has a company that "legally" dodges BILLIONS in taxes every year.

 

He did that last night.

Huh?

 

Without huge losses how would he not pay income tax?

 

Warren Buffet paid:

 

http://www.forbes.com/sites/kellyphillipse...2/#1d9dac00491d

 

 

 

Do you think that Warren Buffet doesn't follow basic accounting laws?

 

Ugh. Warren Buffet is not a real estate developer.

Sure, but that's not really the way Hilary portrays it. She moreso portrays it that he didn't help the country for all those years (last night she even listed off all the things tax dollars are used for - schools, military, infrastructure, etc.) because he didn't pay taxes. Loss carryforwards are a basic accounting practice; basically all real estate developers that have any significant holdings don't pay personal income tax. It's not exactly rocket science. Amortization and depreciation are non-cash expenses that lower the taxable net income of individual real estate holdings. When you own as many real estate assets as Trump owns, these numbers are quite significant. The fact that he took advantage of those tax laws (as all wealthy Americans should do), isn't exactly damning. It's sort of bewildering that Hilary keep focusing on it - its almost like she doesn't get it. What I don't get is why Donald doesn't just take a few minutes to explain this step by step in a debate.

 

The fact that Trump ventured into the casino business and failed, which is the source of the lionshare of the ~$1B in loss carryforwards in 1995 should definitely be viewed as a negative, but the fact that he took that failure and used a basic tax law to shelter income for the foreseeable future is something that any person in that situation would do.

It's possible that his tax sheltering wasn't actually legal though

Writing off losses is a pretty basic tenant of the tax code.

There are simple parts, but our tax laws as a whole are not simple.

It actually is pretty basic. Like I said, no real estate developers of any size pay personal income tax. What he is doing is the same as every other person who owns significant amount of commercial real estate.

Yeah but that's bulls*** and highlighting that goes right to the Democrats position on taxes

a) he didn't actually lose $1B in one year. Again, tax laws.

 

b) I don't know if something dirty is in there or not, but when you own as much real estate as Donald owns, and presumably he will go back to that business when he loses this election, releasing his tax returns probably isn't in the best interest of his real estate operation.

 

c) His whole "brilliant businessman" line is equally as stupid. You don't become a billionaire without being a pretty fiscally intelligent person, but him not paying income taxes has nothing to do with his fiscal brilliance. Its the law.

 

 

It actually is pretty basic. Like I said, no real estate developers of any size pay personal income tax. What he is doing is the same as every other person who owns significant amount of commercial real estate.

 

A lot of these statements arent adding up. First of all we have no idea why he took the losses, your presumption that it is entirely "real estate" is probably not true. The more likely answer is that he had stock in the 3 companies that went BK and when they were organized his stock became effectively worth 0.

 

As to why Donald became a billionaire, its actually not hard to become a billionaire when you inherit a company from your father. How many "Fords", "Waltons", etc are billionaires. Just because someone in their family was a great at business, doesnt mean they are.

 

 

Ugh. Warren Buffet is not a real estate developer.

 

You have no evidence Trump is making most of his money off of real estate. Right now Trump makes most of his money off of licensing. You are completely speculating, you have 0 evidence to support your argument.

 

Its ridiculous.

Yeah but that's bulls*** and highlighting that goes right to the Democrats position on taxes

 

I don't disagree - but its the way the law currently works. Not using the benefits that the tax laws provide just to be a "nice guy" and pay more taxes than you actually have to would be asinine. The man's job has always been to maximize returns on his investments for himself and his partners/investors. Paying more taxes for funsies would go directly against that.

 

Again, Trump is an asshat. But the fact that he LEGALLY used the US tax code to avoid paying personal income tax shouldn't be used again him. There are plenty of other things to rag on him about - but the fact that Hilary keeps going back to this, to me, seems like she doesn't understand it.

The large loss carryforwards from the casino business not withstanding, Trump wouldn't have paid a dime in person income taxes anyway. That's not because he doesn't make a ton of money, its because his accountants follow basic accounting laws.

 

There are a bunch of reasons to hate and/or dislike Trump - the lack of paying income taxes isn't one of them. The whole thing is stupid.

 

Trump is also on record as saying he pays substaintial federal tax.

Debate polls look great - thank you!#MAGA #AmericaFirst pic.twitter.com/4peQ3Sswdz

— Donald J. Trump (@realDonaldTrump) October 10, 2016

I think her responses are deliberate. She doesn't care that he's taking the losses legally. It sounds horrible to the average joe that a billionaire isn't paying income taxes. Legal or not, it's not "fair," and people will eat that up.

 

If Trump wasn't such a moron he could easily respond to that whole issue by pointing out that every major donor for Hillary has a company that "legally" dodges BILLIONS in taxes every year. Pence sort of addressed this when he asked Kaine if he took any credits or deductions on his taxes. But it was in passing and not very direct.

 

Realistically this is where Trump has blown the entire campaign. Instead of actually making the election about policy, and Clinton's history on those policies, it has become a personal referendum on Trump.

But the fact that he LEGALLY used the US tax code to avoid paying personal income tax shouldn't be used again him.

 

There's a good chance that it wasn't all legal, especially with some of the shady stuff like diverting money owed to him over to his charity.

 

But even if that is true, it doesn't exist in a vacuum.

 

Trump complained about half of Americans not paying income taxes, latching onto the view that they're moochers, while he was one of those people.

Trump complained about Obama not paying high enough income taxes, while he paid zero.

Trump complained, while pandering to the middle class, that hedge fund managers pay too low a rate, while he paid zero.

I don't disagree - but its the way the law currently works. Not using the benefits that the tax laws provide just to be a "nice guy" and pay more taxes than you actually have to would be asinine. The man's job has always been to maximize returns on his investments for himself and his partners/investors. Paying more taxes for funsies would go directly against that.

 

Again, Trump is an asshat. But the fact that he LEGALLY used the US tax code to avoid paying personal income tax shouldn't be used again him. There are plenty of other things to rag on him about - but the fact that Hilary keeps going back to this, to me, seems like she doesn't understand it.

 

It absolutely can and should be used to highlight the ways in which our tax code is broken, and yeah, if you're running for a major public office, you can expect to be hammered on this whether it's "fair" or not. Hillary understand this really well, and she understands that it's a great thing politically.

 

Here's some history of his businesses not being above board when it came to taxes

 

http://www.cbsnews.com/news/inside-a-donal...ual-accounting/

There are plenty of other things to rag on him about - but the fact that Hilary keeps going back to this, to me, seems like she doesn't understand it.

It's definitely not that she doesn't understand it. As others have said, it's part of the Democrats' message on taxes. When combined with stories of him stiffing contractors, it also helps paint him as a cheater whose wealth has come at the expense of people less fortunate.

 

Trump is also on record as saying he pays substaintial federal tax.

This is true, and he has also been hypocritical on this issue, complaining in tweets and on Fox & Friends about people not paying federal taxes.

Realistically this is where Trump has blown the entire campaign. Instead of actually making the election about policy, and Clinton's history on those policies, it has become a personal referendum on Trump.

 

...he doesn't know anything about policies.

Realistically this is where Trump has blown the entire campaign. Instead of actually making the election about policy, and Clinton's history on those policies, it has become a personal referendum on Trump.

 

A discussion of policy would go horribly for Trump. Every time he tries to discuss policy he comes off as a clueless moron.

...he doesn't know anything about policies.

 

One of the moments I haven't seen discussed too much from last night's debate was the moderator having to patiently explain to Trump why the US military might announce a major offensive ahead of time, and even after they laid out several reasons, he still responded with "well I can't think of any!"

Debate polls look great - thank you!#MAGA #AmericaFirst pic.twitter.com/4peQ3Sswdz

— Donald J. Trump (@realDonaldTrump) October 10, 2016

Online polls of the viewers of Local4 Detroit are historically pretty close to final election outcomes.

Realistically this is where Trump has blown the entire campaign. Instead of actually making the election about policy, and Clinton's history on those policies, it has become a personal referendum on Trump.

 

Realistically that is where the Republican party lost. They should have buried Trump to start. Instead they "trusted" that their base wouldnt fall for his shtick. If Bush was running right now, at worst this is a coin toss election. Most of the "bad" (depending on your opinion) things his brother did, Hillary voted for anyway.

 

I mean what Republican's does Trump even represent? The guy is all over the place. Even if you discount all of his stupid stuff in his personal life, it was still a terrible strategic risk. All they needed was someone normal. Its so rare for the same party to win a Presidential election after the other party had it for 8 years.

Edited October 10, 20169 yr by Soxbadger

Sen. Jefferson Beauregard Sessions, III (R-Lost Cause) is very confused on what consititutes sexual assault.

Allegra Kirkland ✔ @allegrakirkland

Sen. Jeff Sessions (R-AL) says even if Trump had grabbed women by their genitals, it would not be sexual assault http://bit.ly/2dfe0Un

8:34 AM - 10 Oct 2016

Sen. Jefferson Beauregard Sessions, III (R-Lost Cause) is very confused on what consititutes sexual assault.

 

Donald Trump is an amateur gynecologist and he's trying to assess cervixes. How is that sexual assault? These women should be grateful for Donald looking out for their health.

Debate polls look great - thank you!#MAGA #AmericaFirst pic.twitter.com/4peQ3Sswdz

— Donald J. Trump (@realDonaldTrump) October 10, 2016

 

Does Trump not realize his supporters brigade the s*** out of these awful polls?

 

I have to know...who the hell are the 7% of people on Breitbart who thought Hillary won the debate? Breitbart is basically Trump headquarters.

Edited October 10, 20169 yr by chw42

Does Trump not realize his supporters brigade the s*** out of these awful polls?

 

I have to know...who the hell are the 7% of people on Breitbart who thought Hillary won the debate? Breitbart is basically Trump headquarters.

 

Trolls trolling the trolls

Sen. Jefferson Beauregard Sessions, III (R-Lost Cause) is very confused on what consititutes sexual assault.

He should ask Bill Clinton after Monica got off her knees, sure he knows.

Huh?

 

Without huge losses how would he not pay income tax?

 

Warren Buffet paid:

 

http://www.forbes.com/sites/kellyphillipse...2/#1d9dac00491d

 

 

 

Do you think that Warren Buffet doesn't follow basic accounting laws?

That tax bill for Warren Buffet is pretty humorous....that would be like me paying a quarter.