Reminder; tax avoidance != tax fraud.
Counter-reminder: tax fraud /= tax avoidance. The IRS, and Congress through the Tax committee, will judge that.
Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
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Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#32Doesn't this just prove that he's not in office to get rich but that he's willing to sacrifice for the sake of his country?
How does the forced release of Trump's tax returns demonstrate anything about his willingness to sacrifice for the USA?
He's been losing money in office and has been donating his paycheck every quarter. He's not being president for the money.
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#33For comparison, President Trump payed $750 in federal income tax in 2016 and 2017. I just looked it up and I, a graduate student who makes like $30k a year paid three times that amount last year.
Warren Buffett is in a similar boat and has complained vocally about it. The US tax system is absurd when it comes to the upper echelon.
[Edit: I mean, he's complained that it's unjust and that billionaires like him should be paying their fair share.]
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#34For comparison, President Trump payed $750 in federal income tax in 2016 and 2017. I just looked it up and I, a graduate student who makes like $30k a year paid three times that amount last year.
The problem here is that American culture has made you entitled. You think that, just because you can get into grad school and bump shoulders with the elite, you should be able to deduct $70,000 of haircuts, too.
(This is a joke, to be clear.)
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#35Reminder; tax avoidance != tax fraud.
Sure, but what's being implied in the article, and the years-long IRS investigation/battle, is that the constant declared losses were indeed tax fraud.
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#36Earlier quoted context omitted.
I think that it should be law that the finances of the people at these levels of governence (maybe even down to the city level) be open to the public to review.
Well, it is the law that you're not eligible for a security clearance if you have significant debt.
I didn't know that. I'm just completely speculating right now, but I wonder if that has something to do with Jared Kushner's denied security clearance. [1]
[1] https://www.nytimes.com/2019/02/28/us/politics/jared-kushner...
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#37There is ZERO wrong with income tax "avoidance". I don't care who you are.
Actually, it means you aren't paying your share for the services provided by the public.
The only people who think that tax avoidance is a good thing are the unethical rich and the American embarrassed millionaires who've been convinced to vote against their own best interests.
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#38I’m more concerned about how this information was sourced. Did it get leaked from the IRS or an accountant? It feels like that part of the story is the bigger deal. I love the NYT but this feels kind of like doxing and makes me very uncomfortable.
>It feels like that part of the story is the bigger deal.
You think that is the bigger deal? I suppose it is a variant of doxing, but it doesn't look like the NYT is going to post the actual returns, just their interpretation.
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#39Did anyone really expect anything else? People who actually make a lot of money don't go around shouting "I make a lot of money".
Trump has literally spent his adult life shouting "I make a lot of money" on TV.
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#40Outside of the near meaningless confirmation of Trump's status as a "fake" billionaire and how that may affect his ego, there's is an alarming piece of information here. The man owes hundreds of millions of dollars in personal loans that he may not be able to repay. They will come due during his second term. Given his lack of ethics it's worrying to me that a president could have that kind of leverage against him. Da…
On the other hand, the contents also show that breathless reporting of past foreign deals and money were pure rumor.
How? The rumors are of shady money deals. These would not necessarily be shown in tax statements.