Trump And His Taxes...
The New York Times has obtained tax-return data for President Trump and his companies that covers more than two decades. Mr. Trump has long refused to release this information, making him the first president in decades to hide basic details about his finances. His refusal has made his tax returns among the most sought-after documents in recent memory.
Among the key findings of The Times’s investigation:
Mr. Trump paid no federal income taxes in 11 of 18 years that The Times examined. In 2017, after he became president, his tax bill was only $750.
He has reduced his tax bill with questionable measures, including a $72.9 million tax refund that is the subject of an audit by the Internal Revenue Service.
Many of his signature businesses, including his golf courses, report losing large amounts of money — losses that have helped him to lower his taxes.
The financial pressure on him is increasing as hundreds of millions of dollars in loans he personally guaranteed are soon coming due.
Even while declaring losses, he has managed to enjoy a lavish lifestyle by taking tax deductions on what most people would consider personal expenses, including residences, aircraft and $70,000 in hairstyling for television.
Ivanka Trump, while working as an employee of the Trump Organization, appears to have received “consulting fees” that also helped reduce the family’s tax bill.
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.
It 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.
It appears trump has been gaming the tax system for years. Not at all surprising really. As he continues to game the system and play the people for fools.
Continue reading BELOW the FOLD.
Whether what he did is legal, for me, is not the issue. As Republicans have argued for years, it is a fundamental question of fairness. Every person in the US should pay something. Period. 4 years ago this was standard GOP philosophy. Now?
ReplyDeleteEither we are all in this together, or we are not. Trump by playing the game, is showing us that all of us are suckers for paying our taxes.
Taxes, like government, are a very neccessary evil. Without either society will cease to function in an orderly and reasonably secure environment.
DeletePerhaps that is trump's goal. It's plausible because the government of trump sure as hell has been chaotic and promises to be even more so in a second term. In more ways than one.
I believe you are right Dave. The sitting potus very probably thinks we're all suckers for paying our taxes. His very own personal examples clearly says he does. Now don't get me wrong, I've taken advantage of every legal tax break available to me. But I've paid taxes every single year since I was 16. That's 52 years. My highest tax year I paid over $25,000 in federal taxes and I by no stretch of imagination lead the opulent life trump has. Guess I'm a sucker but I always felt I was doing my patriotic duty by giving back to my country. In other words paying my fair share.
Trump naturally proclaims the tax records fake and a hoax.
ReplyDeleteIt is apparent that anything he proclaims is fake is the truth,
you can bet your house on it. One commenter labeled the GOP
rubberstamp 'senators' as invertebrates. We note that that
group of life forms have no spines. ..and that ain't fake :)
300 million in debt, personally guaranteed by Trump.
ReplyDeleteI wonder if any of the conservative trolls here see any issues in that?
Hey you guys remember how spastic the trolls got when folks like Clinton got a $400 hair cut?
ReplyDeleteI wonder what they're gonna say now that Trump deducted from his taxes 70K for his hair cuts?
trump is absolutely one of the world's GREAT gaslighters of all time.
ReplyDeleteAnd Dave, I don't believe for a minute any of the conservatives who leave there trumpian comments here (most which get jettisoned) see any issue at all with trump's total lack of honesty and character.
Sure do Dave, vividly. On this one all we'll hear is crickets I'm sure.
Delete