They could catch Trump in bed with Michelle and Hillary at the same time and I'd still vote for him.

If Trump did wrong, he should face the consequences like all other Americans. Would it be OK if Trump went out and shot a deer at night! How is this any different!

The headlines don't read..." TRUMP cheated on his taxes" do they?

Surely your smart enough to see that the media would be all over it if he did something illegal....maybe not.

I would pay for President Trump to have his eyes checked if that ever happened.


James,

I am not surprised at your comments. Do you know anything about the tax laws??????? Section 179 Deduction? Depreciation? And I forget what this one is called because I haven't kept up with the tax laws since I retired from preparing tax returns years ago. But, unless the tax law on this has changed, you are allowed to carry your losses forward to offset future income. For example: In 2017 I lose 3 million dollars in my business ventures. Obviously I would pay no taxes. In 2018 I make 2 million dollars. I pay no taxes that year because I carry 2 million of the previous loss forward to offset my tax. In 2019 I make 1 million dollars. I carry the last million forward and still pay no taxes. Now the dumbocrats can scream that I didn't pay any taxes for 3 years. They would be right, but by the laws in effect, I legally don't have to pay any taxes in those 3 years.

But.... he didn't. The article doesn't even claim that. All it claims is that he took advantage of perfectly legal tax loopholes to avoid paying any more tax than absolutely necessary.

Another thing people never consider is that income tax is just one form of tax. Trump probably spends more in sales taxes in a year than some of us do on income taxes in our lives.

And the politicians screaming about it are the ones who put those laws there to cozy up to the businessmen who take advantage of them.

#1, Jim I seem to remember you stating that you'd vote for any Democrat with a pulse over Trump. Am I wrong? If not seems your hatred is so that your doing what your complaining about.

#2, Jim you did, you called him a Tax Cheat. You previous post

"Like Boco points out, the guy is either a tax cheat or a real bad businessman.

You do realize that some of the "expenses" that come out of profits for years prior to 2017 were for whisking around in his limo and private jet? I bet the company paid for his suits too.

Jim"

#3 Morality, you think taxes are moral?

Taking the fruits of ones labor at the point of a gun and giving it to someone else is moral?
Not all taxes are spent on public infrastructure. How about the morality of only some paying for this infrastructure and others not paying for it at all yet benefiting from it, is that moral?
Morality has gone out of the window when it comes to taxes years ago.

#4 Until proven otherwise Trump has paid what he is legally required to pay. He has done his moral and civic responsibility.
Trump doesn't have to release them, in his position I don't see why anyone would. Under audit with thousands of pages of info why give that ammunition to a media that has outright lied about him none stop for 4 years.
Don't like the tax system JIM, Don't vote for the guys who made it, Like Joe Biden, in the business of making tax law for 50 years.

Your supposedly a Lawyer James. If you had a client in Trumps position would you advise he release his taxes to the press? A press that is undeniably full of the hatred that you talk about in your point #1?
The press will never admit that Trump is not guilty of anything. They ignore the fact and go on to the next lie. Russia Russia, Impeach Impeach, Ukraine Ukraine and on and on. All baked up out of lies.

I'm no fan of Trump and I think the last 4 years have set back conservatives. Still better than Killary. That being said..... If he did something illegal he would've been run up a flag pole already. Tax avoidance is smart, tax evasion is illegal. The only thing I think he did wrong was not being transparent about his returns 2 years ago. Enough time for the outrage to die down.

LOL!

You guys are trying to reason with a triggered snowflake.

It's sort of like trying to explain trapping to Petr.

Both are a complete waste of your time.

James has stated he will vote for "any Democrat with a pulse" before voting for Trump. In his mind Trump is an immoral dictator who now cheats on his taxes among other things. i won't list the many derogatory names he's called our President and his supporters because it gets my blood pressure too high.

The point is he's a liberal never-Trumper who is blind to everything but his hatred for our President.

Ain't none of you ever gonna change his mind.

Besides, like most educated liberals, he believes he is vastly smarter than you bunch of dumb-arsed rednecks.

And that about sums it up in a nutshell.

And for you guys that think Trump not releasing his tax returns was a bad and/or dumb move, you're wrong.

Absolutely no good would or will come from him releasing his tax returns to the public. Some of you folks are getting all worked up over a fake news story with absolutely no basis in fact. Imagine the field day the liberal media would have with his actual tax forms.

Even though I'm sure everything in them is on the up and up he would still be endlessly crucified for this deduction and that. It's clear from reading this thread that most have no clue as to how businesses and deductions work.

The media would have a field day and folks would eat it up.

The decision to not release his taxes was yet another smart move by the President.

Smarter than a lawyer, and they can't have that. lol

With what is at stake in this election, do Trumps taxes really make a difference? If you do not vote for Trump, you are voting for communism. That includes not voting at all.

Now, that is scary!!!!!!

With all the confusion it has caused one might understand why he didn't release his tax filings. Here is an article that will throw light on some of it if one bothers to read it. Trump prepaid taxes

Is he going to use that deer to feed his family, or just cut the antlers off and hang them on the wall?

Jim it is a good tactic to play the "Trump is rich and pays no taxes card. " Have you noticed how many of the so-called conservatives on this site have rich envy? This will play well among the masses.

How the Bidens Dodged the Payroll Tax
They used an S-corp to avoid paying more than $500,000 in levies for Medicare and ObamaCare.


By Chris Jacobs
August 10, 2020



Joe Biden responded to President Trump’s partial suspension of payroll-tax collections with a statement calling it the “first shot in a new, reckless war on Social Security.” He continued: “Our seniors and millions of Americans with disabilities are under enough stress without Trump putting their hard-earned Social Security benefits in doubt.”

Mr. Biden’s objections might be more persuasive had he and his wife, Jill, not gone out of their way to avoid funding seniors’ entitlement benefits. According to their tax returns, in 2017 and 2018 the Bidens and his wife Jill avoided payroll taxes on nearly $13.3 million in income from book royalties and speaking fees. They did so by classifying the income as S-corporation profits rather than taxable wages.


The Bidens did pay themselves “salaries” from their corporations—CelticCapri Corp. and Giacoppa Corp.—of nearly $750,000 between them over two years, and they paid full taxes on that income. But they circumvented the payroll tax on the nearly 95% of their income that remained. A tax expert interviewed by the Journal in 2019 called the Bidens’ scheme “pretty aggressive”; another told the paper it served solely to avoid the payroll taxes.

Of the taxes the Bidens avoided, 2.9% of their income, around $385,000, would have funded Medicare. The other 0.9%, nearly $120,000, was part of ObamaCare and fund that law.


According to the Urban Institute, a couple featuring one high earner and one average earner, retiring this year, will have paid a total of $209,000 in Medicare taxes during their working lives. The Bidens avoided paying nearly twice that much in Medicare taxes during two years. The maximum payroll tax affected by Mr. Trump’s suspension is $1,984—less than 1/250th of the amount the Bidens avoided in 2017-18.

The Bidens didn’t avoid any Social Security tax, which applied only to the first $127,200 of income in 2017 and $128,400 in 2018. But they would under Mr. Biden’s tax plan, which would impose the 12.4% Social Security tax on income over $400,000; the same loophole he used in 2017-18 would shield him from his own tax. And how can Mr. Biden claim to protect Medicare and ObamaCare when he avoided more than $500,000 in taxes that fund the two programs?

The media have largely ignored the Bidens’ accounting legerdemain, fixating on Mr. Trump’s tax returns instead. But at least the president isn’t looking to raise taxes on everyone else.

Mr. Jacobs is founder and CEO of Juniper Research Group and author of “The Case Against Single Payer.”


https://www.wsj.com/articles/how-th...l-tax-11597083162?mod=opinion_lead_pos10