Azure Dream
Member
Trump campaign response.
Begs Russia to hack Hillary
Cries when someone obtains his 20 year old tax records he should have already released anyway
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NYT gets Trump's 1995 tax documents, might have avoided taxes for two decades
- Thread starter WedgeX
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Begs Russia to hack Hillary
Cries when someone obtains his 20 year old tax records he should have already released anyway
FantasticMrFoxdie
Mumber
What power level of Megaton is this guys?
Is this No Mans Sky bad?
FF13 on Xbox, but it ends up being a meh game in the long run bad?
or Apple Maps bad?
Is this No Mans Sky bad?
FF13 on Xbox, but it ends up being a meh game in the long run bad?
or Apple Maps bad?
Reads like something that shitstain Boris would write or say.
JadedWriter
Member
How does a man that lost a billion dollars in one year know how to fix this country?
Oh man, if Fox News is headlining this, you know this might be bad.
This won't make his base collapse, but it takes some impressive incompetence to lose almost a billion dollars in a single calendar year, which is something that is going to follow Trump for the rest of the election cycle.
This won't make his base collapse, but it takes some impressive incompetence to lose almost a billion dollars in a single calendar year, which is something that is going to follow Trump for the rest of the election cycle.
Dreams-Visions
Member
jim-jam bongs
Member
So you're saying that it's America's fault that Trump is a piece of shit? I actually agree, to an extent. His particular brand of cunt is wholly enabled and supported by the US legislature. On the other hand, his particular brand of cunt is still a massive cunt in every other way, and that's all on him.
his supporters don't give a fuck
CoffeeJanitor
Member
I mean people already knew about this. Everyone knows he's gone bankrupt.
This however makes it a part of the conversation. No avoiding it.
The more I think about it, the more I become convinced that Hillary got her hands on this before the debate. That's why she raised the idea that Trump never paid taxes for years, to sow the seeds of the idea.
Then boom, hit 'em with the receipts. Even better, put Trump Tower down as the return address, making that paranoid fuck look through his own ranks for traitors like he's the Mad King.
Then boom, hit 'em with the receipts. Even better, put Trump Tower down as the return address, making that paranoid fuck look through his own ranks for traitors like he's the Mad King.
Get the country so broke they can't pay their own taxes thus they can ignore them. Genius!
This is still just the tip of the iceberg.
neurosisxeno
Member
Its fairly substantial, but prob won't effect polling that much. Trump's problems in the 90s are well known, and no one is going to pay more taxes than they are legally required to do.
The sexist/racist shit he says on a daily basis hurts his chances much more. People don't give a shit about accounting, they just see big buildings with Trumps name on it and assume he's a great businessman.
Business losses can be carried forward 20 years. Thus any income you would normally pay tax on is negated since you can utilize your nols. These are perfectly legitimate tax plans and strategies companies utilize to maximize profits. Some tax policy intentionally allows this to help sway marketplace behavior.
Eg: Owners who rent out their houses can deduct depreciation on the home. Did they suffer any real loss? No, but they pay less taxes in the current year. These will supposedly be regained upon selling the property but can be avoided/prolonged due to an event causing a step up in basis or a like kind exchange. Such as a death in the family.
However for a presidential candidate to avoid paying taxes even if it's within his legal right is just not a good look. Obviously candidacy wasn't something he considered in his tax planning up to last December.
massivekettle
Member
Well, that makes his tax advisor smart (although this isn't really a loophole, but an commonly accepted and very popular way to minimize future tax liabilities). Minimizing one's tax burden is in everyone's interest. I don't understand how/why it's seen negatively, especially around here.
You act as if he had committed murder or treason.
EmpressInYellow
Banned
Nah, just encouraged other people to. He's not much of a "hands on" kinda guy, for obvious reasons.
Didn't he commit treason when he spent money in Cuba?
BotoxAgent
Member
Audioboxer
Member
Like the UK the issue is with your government America. Assholes do this legally.
It takes you to have zero humanity (why should I contribute into the system?! I'm ABOVE the system!), but it ends up being legal because it's rife within big government. Big Davey Cameron was even done in Panama.
Also have fun using your iPhone or Android phone. Apple and Google? Two of the worst at tax avoidance. Throw Amazon in there as well.
This had to be intentional
Lord Frieza
Member
Somewhere in-between the Transformation from Steady and Cool Megatron to batshit insane Galvatron.
Lol, I guess we need some obviously closested Trump supporter in here since most of them have mysteriously disappeared recently. Sure he'll be gone soon again with his quality shit posting.
Light treason
cartoon_soldier
Member
None of us or Apple or Google or Amazon are running for President while claiming a record of being a very successful business person.
Audioboxer
Member
¯\_(ツ
_/¯My point is Government is rife with it and the whole system is corrupt. This is one thing Trump cannot be blamed for single handily. He can be acknowledged as another asshole not paying into the system but he's a penny dropped in an ocean of it overall. I'm not part of any tax avoidance defence force, that will arrive if it hasn't already under the guise of "guys it's just smart business to maximise your profits".
Some of the more affluent GAFers/self-employed business folks are probably in on it as well. The government just does fuck all to clamp down on it as they all have their hands in the pot, or are best friends with the big companies.
As always it's the immigrants and poor people that are supposedly the biggest burden on the system. America does have a serious issue with compassion though, given your healthcare system and absolutely insane protesting against Obama Care, even as an effort made to partly turn that ship around. I doubt you'll see a Trump/Hillary-care. Definitely not Trump. Or more sadly I doubt you'll ever see a full on social healthcare system. For the greatest nation on earth that is incredibly depressing. I'm doing what I can to fight the UK's attempts to copy America.
massivekettle
Member
Wasn't aware, but then again I haven't really been following this shit show over the past few weeks.
Shit posting? Tax loss carryforward is like the first thing you are taught in financial accounting. Nothing shady or dishonest about that.
jim-jam bongs
Member
It's a shitty bit of law, for one thing. It also means that your boy, who claims to be a master business-guy, lost almost a billion dollars in a single year because he's terrible at what he claims to be good at.
Regginator
Member
I don't see the problem here. If anything, this just shows how smart he as and how he's the best candidate to be the US president.
I'm sorry, this has probably been milked too much
Chaos2Frozen
Member
Shhh! You don't want to reveal the plan to ISIS!
Zero. Nothing will sway Trump voters at this point other than Ivanka in a sex video with a black guy. (If there's anything to the pedophile stuff, I doubt it fully plays out in time.)
massivekettle
Member
Except that this is not a loophole.
First, he's not my boy. I definitely don't like him as much as people think here.
Second, we'd have to see how he lost the billion. It's very easy to manufacture losses from an accounting standpoint, and could be where the "real" fraud lies.
So the very first sentence of that article said he reported a 916 million dollar loss aka a net operating loss (NOL). NOL's don't just appear out of thin air. You have to fund the loss with capital. NOL are available for a 3 year carry back or a 20 year carry forward to be utilized against future income. This is a federal thing and not all states allow the carry forward. So if you had a business which incurred a loss, you can offset your next year's income with those available NOL carry overs. And it's not surprising for someone with huge real estate properties. There are rules that they can perform cost segregation studies and accelerate tax depreciation which will allow substantial write off of real property today vs over a typical 31.5 year period. And the huge allowable business deductions for depreciation have been extended over the last 8 years
"Billionaire doesn't pay income tax" is a headline that probably won't play well with Joe the plumber but I think the real story is dude lost a billion dollars in a year and that's his secret genius tax loophole he brags about
"He knows all the loopholes. He's gonna fix the system."
If you assume that the current system is corrupt and evil, something that Trump has said or implied often enough, then not paying taxes is no longer a bad thing (from that perspective).
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