It seems unethical to obtain private financial records and leak all this information. I’ve had journalists reach out to colleagues every now and then, looking for private and confidential information and this feels similar, where it isn’t whistleblowing but simply digging up information that no one has any right to. If this is OK, is everything okay? Would any disclosure of private information get a pass? Is doxxing okay if it aligns with a journalist’s personal politics?
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
#62Reminder; tax avoidance != tax fraud.
I think one of the issues is that he has simultaneously told the opposite story to his lenders, making himself look wealthier than he is in order to score loans. This, is fraud.
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#63Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#64For 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.
Where is the Alternative Minimum Tax? You know, that tax law that pops up frequently for high earners in the tech field when they have more deductions than seems fair? Why isn't Trump subject to the same minimum taxation that I would be?
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#65Does anyone have any more detailed information about the losses, specifically from the real estate side of his businesses? Real estate can frequently show a tax loss from depreciation while generating cash flow. But depreciation only applies to improvements, and it sounds like the golf courses are a significant part of the losses. I don't know enough about golf courses to determine if depreciation is a big factor her…
The article says "What the tax records for Mr. Trump’s businesses show, however, is that he has lost chunks of his fortune even before depreciation is figured in. The three European golf courses, the Washington hotel, Doral and Trump Corporation reported losing a total of $150.3 million from 2010 through 2018, without including depreciation as an expense."
So this is negative cashflow, not counting depreciation.
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#66I’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.
Maybe I exaggerated a bit but for me they rob the impact of the story when others can be concerned about how the information was gained. Also it sets a bad precedent for when the dems are in power. * depending on how the information. Was gained *. And at the end of the day the information really is t anything that is all that shocking - it’s what I have (and many have) expected all along
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#67For 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.
Where is the Alternative Minimum Tax? You know, that tax law that pops up frequently for high earners in the tech field when they have more deductions than seems fair? Why isn't Trump subject to the same minimum taxation that I would be?
The AMT is for ... uh ... "wagecucks" is the 4chan terminology. If you are actually rich you never have income as such.
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#68Reminder; tax avoidance != tax fraud.
I honestly don't understand why “tax avoidance” is meant to sound so naughty. Almost everyone avoids taxes, almost every time they might be subject to a tax; some people are just better at it. When you fail to collect taxes from somebody who is following the law, that is a matter for your tax code, not a moral failing of the filer.
Quite a different thing though if you are head of government which is supposed to collect taxes from people like you, and you see no need to change that.
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#69There 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.
No, that's not what it means.
Re: Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance
#70There is ZERO wrong with income tax "avoidance". I don't care who you are.
Tax avoidance has different colors. Some of it is totally fine, others is more concerning. I agree with you on the tone that is coming out that tax avoidance is wrong is totally bs. Tax evasion on the other hand is completely wrong and illegal.