Re: Tax returns
[Re: yotetrapper30]
#7003693
09/29/20 08:58 AM
09/29/20 08:58 AM
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Joined: Nov 2017
Posts: 11,254 Maine, Aroostook
Posco
trapper
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trapper
Joined: Nov 2017
Posts: 11,254
Maine, Aroostook
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They could catch Trump in bed with Michelle and Hillary at the same time and I'd still vote for him.
Last edited by Posco; 09/29/20 09:01 AM.
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Re: Tax returns
[Re: proratman]
#7003706
09/29/20 09:16 AM
09/29/20 09:16 AM
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Joined: Feb 2010
Posts: 19,719 pa
hippie
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trapper
Joined: Feb 2010
Posts: 19,719
pa
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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.
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Re: Tax returns
[Re: Posco]
#7003712
09/29/20 09:17 AM
09/29/20 09:17 AM
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Joined: Dec 2006
Posts: 1,977 Ohio
Computer Hater
trapper
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trapper
Joined: Dec 2006
Posts: 1,977
Ohio
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They could catch Trump in bed with Michelle and Hillary at the same time and I'd still vote for him. 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.
Randy Member NTA, FTA
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Re: Tax returns
[Re: proratman]
#7003713
09/29/20 09:17 AM
09/29/20 09:17 AM
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Joined: May 2011
Posts: 16,580 Oakland, MS
yotetrapper30
OP
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OP
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Joined: May 2011
Posts: 16,580
Oakland, MS
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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! 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.
~~Proud Ultra MAGA~~
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Re: Tax returns
[Re: Computer Hater]
#7003715
09/29/20 09:20 AM
09/29/20 09:20 AM
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Joined: Feb 2010
Posts: 19,719 pa
hippie
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trapper
Joined: Feb 2010
Posts: 19,719
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They could catch Trump in bed with Michelle and Hillary at the same time and I'd still vote for him. 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. 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.
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Re: Tax returns
[Re: James]
#7003738
09/29/20 09:45 AM
09/29/20 09:45 AM
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Joined: Nov 2014
Posts: 1,939 east central WI
Dirty D
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Joined: Nov 2014
Posts: 1,939
east central WI
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I can't respond to all the posts here, so I'll reply to some of the arguments.
1. I hate the Democrats too much to care what Trump does. The libs hate him, so that's enough for me.
I can't help you, man. You hate too much. It must really eat up your soul, to hate that much, that you'd toss all logic, impartial judgment, and morality out the window in favor of your single emotion.
2. If he's a tax cheat how come the IRS hasn't put him in jail?
So who called him a tax cheat? That article doesn't accuse him of being a tax cheat. It's news that the president has only paid $750 in taxes! In what deluded Trumpian universe does that look good for him? Boy, look how smart he is, to play the system that well, you say. Good luck with that argument among undecideds.
3. It's not a moral issue because the money all belonged to him anyway. Taxes are immoral!
Wrong. Unless you renounce all rights to use our public transportation system, our retirement system, our national defense, and numerous other things paid for by our taxes. Or is it that we should only spend money on the stuff you like?
4. If Trump was legal, that's good enough for me.
So what about morality and civic responsibility? The way I was raised, those things count too. And here my biggest issue is, why has he refused to release his returns? And second, which is only partly Trump's fault, why hasn't our tax system been fixed so that a guy who can afford a limo and private jet pays more than $750 in taxes?
Why did Trump fight so ferociously to keep his tax returns secret--despite promises to the contrary--if he isn't ashamed or embarrassed about what's in them?
Trump can clear up this controversy any time he wants to, just by releasing his returns--like every other presidential candidate in modern history. Why won't he?
Even blind worshippers should ask themselves why, now and then.
Jim #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.
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Re: Tax returns
[Re: yotetrapper30]
#7003744
09/29/20 09:50 AM
09/29/20 09:50 AM
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Joined: Oct 2018
Posts: 5,570 Dunbar, Wisconsin
Pike River
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trapper
Joined: Oct 2018
Posts: 5,570
Dunbar, Wisconsin
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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.
Last edited by Pike River; 09/29/20 10:05 AM.
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Re: Tax returns
[Re: hippie]
#7003745
09/29/20 09:52 AM
09/29/20 09:52 AM
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Joined: Dec 2008
Posts: 28,715 Eastern Shore of Maryland
HobbieTrapper
"Chippendale Trapper"
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"Chippendale Trapper"
Joined: Dec 2008
Posts: 28,715
Eastern Shore of Maryland
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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. LOL!
-Goofy-
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Re: Tax returns
[Re: yotetrapper30]
#7003749
09/29/20 09:55 AM
09/29/20 09:55 AM
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Joined: Dec 2006
Posts: 20,039 SEPA
Lugnut
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trapper
Joined: Dec 2006
Posts: 20,039
SEPA
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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.
Eh...wot?
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Re: Tax returns
[Re: Lugnut]
#7003751
09/29/20 10:01 AM
09/29/20 10:01 AM
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Joined: May 2011
Posts: 16,580 Oakland, MS
yotetrapper30
OP
trapper
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OP
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Joined: May 2011
Posts: 16,580
Oakland, MS
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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 to 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.
~~Proud Ultra MAGA~~
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Re: Tax returns
[Re: yotetrapper30]
#7003753
09/29/20 10:06 AM
09/29/20 10:06 AM
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Joined: Dec 2006
Posts: 20,039 SEPA
Lugnut
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trapper
Joined: Dec 2006
Posts: 20,039
SEPA
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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.
Eh...wot?
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Re: Tax returns
[Re: yotetrapper30]
#7003792
09/29/20 11:01 AM
09/29/20 11:01 AM
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Joined: Dec 2006
Posts: 11,923 Oakland, MS
Drifter
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trapper
Joined: Dec 2006
Posts: 11,923
Oakland, MS
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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
Some individuals use statistics as a drunk man uses lamp-posts — for support rather than for illumination.
Andrew Lang (1844-1912) Scottish poet, novelist and literary critic
Life member NTA , and GA Trappers assoc .
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Re: Tax returns
[Re: proratman]
#7003823
09/29/20 11:53 AM
09/29/20 11:53 AM
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Joined: Feb 2009
Posts: 828 Hill City,Mn.
Rally
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Joined: Feb 2009
Posts: 828
Hill City,Mn.
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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! Is he going to use that deer to feed his family, or just cut the antlers off and hang them on the wall?
Keep your boots dry
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Re: Tax returns
[Re: yotetrapper30]
#7003832
09/29/20 11:58 AM
09/29/20 11:58 AM
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Joined: Dec 2010
Posts: 11,184 Armpit, ak
Dirt
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trapper
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Posts: 11,184
Armpit, ak
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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.
Who is John Galt?
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Re: Tax returns
[Re: yotetrapper30]
#7003833
09/29/20 11:59 AM
09/29/20 11:59 AM
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Joined: Mar 2007
Posts: 35,169 McGrath, AK
white17
"General (Mr.Sunshine) Washington"
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"General (Mr.Sunshine) Washington"
Joined: Mar 2007
Posts: 35,169
McGrath, AK
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How the Bidens Dodged the Payroll TaxThey 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
Mean As Nails
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