Trump Reportedly Paid Less Than $1,000 In Income Taxes...

Any Trump worshippers have any idea on why Trump just doesn't release his tax returns, like everyone else running for president does?

Comments (160)

 
Sep 28, 2020 - 2:22pm

Not a Trump worshipper but he carried his losses from past failed ventures to pay basically no tax (750 bucks in 2016) I had to pay more from my part time job. Maybe there was some shit going on, like he didn't want people to know about certain things he was doing, or maybe he knew that the way he was dodging taxes were kinda shady. I don't really have a good answer to this.

The main thing about money, Bud, is that it makes you do things you don't want to do.

 
Sep 29, 2020 - 1:02am

I think that the "I pay more from my part time job" idea is so silly and lacking any thought depth. 

Step back for a second and think about the value added by your part time job vs. someone who has run multiple businesses (successful or not doesn't matter) that have tens of thousands of tax paying employees. Regardless of if he personally paid taxes or if his businesses did, he has contributed an immense amount of dollars to taxes through the job creation.

Just my two cents. 

 
Sep 29, 2020 - 1:02am

I was merely pointing out how little he paid and I thought comparing how much a billionaire paid vs a college student would showcase that well, not saying there's not a legitimate reason for it. Unless of course, there isn't and he really did commit tax fraud. With all that said, MAGA 2020.

The main thing about money, Bud, is that it makes you do things you don't want to do.

 
Sep 29, 2020 - 7:07pm

Trump didn't pay any taxes, but employees did, so overall it's a wash. 
 

You're making it seem like Trump has been doing God's work. Each of the many times his entities filed bankruptcy, he didn't care about all the little people (including small mom-and-pop businesses) that didn't get paid/got screwed.

 
Sep 28, 2020 - 2:22pm

Kind of sad to be honest. The "businessman" president reports net losses while having millions in debt that he might not be able to pay off in a few years, and it barely affects anyone's vote. How low can the bar go for him?

I’m a fun guy. Obviously I love the game of basketball. I mean there’s more questions you have to ask me in order for me to tell you about myself. I'm not just gonna give you a whole spill... I mean, I don't even know where you're sitting at
 
Sep 28, 2020 - 2:22pm

Also wasnt Biden accused of unethical dealings, when his son got money from Ukraine or something, I don't know the details so correct me of I'm wrong, but some shady shit is going on there too.

The main thing about money, Bud, is that it makes you do things you don't want to do.

 
Sep 28, 2020 - 2:22pm

It is but not what I meant. In my other comment I admit something maybe going on. What I should of said was that both sides should be under scrutiny from the media and whatever gov't investigate this type of stuff. We don't live in a perfect world but it is wrong to have one side scrutinized so much, while many in the media and the govt turn a blind eye to the other.

The main thing about money, Bud, is that it makes you do things you don't want to do.

 
Sep 28, 2020 - 2:22pm

Because his entire self-image is built on him being a successful businessman.  His entire pitch in 2016 was that he was a billionaire who knew how to run a large organization and would make the federal government more efficient.

When it comes out that he's a repeated failure, posssibly one of the worst businessmen in America, who has survived due to a shell game of debt, fraud, and a bunch of unethical shady practices in between... well, I guess nothing will change.  Debt, fraud, and a lack of ethical conduct has been the summation of his Presidency, too, and none of this supporters seem to care, so why would anything else?  Truth doesn't mean much to the American right wing anymore.

And anyone with a lick of financial sense knew the man was worth less than the average bum squeegeeing windows from the day he announced his candidacy.

 
Sep 28, 2020 - 2:22pm

99_Steam

Explain how you are going to uncover all of these things through his personal tax return.

8.4.3

I don't understand?  We know he's a crook - he was convicted of tax fraud already.  Moreover, knowing who his lenders are is 100% a matter of public interest, just as it was the public's business when Clinton got a blowjob in the White House.  These people are elected officials and public representatives, and have chosen to be - you don't get to claim that it violates your privacy.

Moreover, Mr Trump has and still does make his business credentials an essential part of his campaigning.  If he wants to portray himself in that light, then it's absolutely a matter of public interest just how successful he is.  And while I have no issues with him taking depreciation losses to offset his income, it's also a matter of public import as to whether he's insolvent and playing musical chairs with his lenders or whether he's successful and also taking advantage of the tax code.  If you can't see why these things matter then why bother having any public official be required to have any transparency while in, or running for, office?

As for the unethical and/or illegal parts of it... well, if he's paying his children tens of millions of dollars a year in consulting fees while also having them on the Trump Organization payroll, that's a fucking crime.  If he's applying for tax refunds despite not sticking to the tax code that govern them, then that is also a crime.  It's called fraud, and of course he should be held accountable.  The fact that he decided to invite all this scrutiny by running for high office means that he isn't being targeted unfairly or any nonsense like that.  That anyone can defend him at this stage is truly unbelievable - if Mr Trump is innocent, all he has to do is comply with long standing tradition, which anyways is just another kind of good governance, and release his returns.  That he is unwilling to do so, even despite that being the decent and honest thing to do regardless of what they show, should be taken as convincing circumstantial evidence that he's at best a liar and at worst a criminal.  Actually, at worst a criminal who is at this very moment in the act of selling his country out to foreign powers in return for personal favors.  In other words, the exact crime he was already found guilty of.

 
Sep 29, 2020 - 8:22pm

This guy knows EXACTLY what he is taking about.

Probably the best response I have seen on this thread.

Trump is a fraud and a huckster.

I have had dealings with him and his "organization" on a personal level and professional level and within 20 minutes knew exactly what I was dealing with:

A PT Barnum type self promoter, who made one good trade (Trump Tower) with Daddy's money then tried to build a brand around his name.

Almost everything he has ever touched has turned to dust.

The only game is knows is to bullshit and self promote then lawyer up and have them fight his battles. There is virtually no reputable firm on either coast that will touch him.

If he disclosed his taxes his entire farce would further unwind and the spell he he has cast over the ignorant, uneducated, or people similar to him (self absorbed sycophants) would fade.

He is the worst thing to happen to this country since the Civil War

 
Sep 28, 2020 - 2:22pm

Because fraud can result in jail time.  This would not be the first time he has had a run in with the IRS. In a previous case, he basically made expenses up, which I suspect is at the core of his issues now. Ivanka was paid $700,000 as a consultant and I would be curious to find out what she did to earn the money.   This story just reinforces what many of us have already known.  He created a phony foundation, a phony university and surprise, surprise, he may have committed tax fraud for years.  This story and the aftermath kind of reminds me of Bernie Madoff.  Shortly after the story broke, his former deputy campaign manager locked himself up and threatened to end his own life.  The POTUS needs to win this election because if he does not, AGs from various states will probably pursue indictment.  

http://www.series65examtutor.com
 
Sep 28, 2020 - 2:22pm

> The POTUS needs to win this election because if he does not, AGs from various states will probably pursue indictment.  

AG's will go after him regardless, no? Also they will go after him either next year (if he loses) or in four years. No one ever escapes taxes. No one. If he did lie/cheat on his taxes why didn't the IRS go after him when we was running back in 2015/16? Just curious if we have proof that he has broke the law?

 
Sep 28, 2020 - 2:22pm

Yes, I agree that the AGs are going to go after him anyway.  I think this information will make the cases easier to prove.  I have no idea why the IRS did not go after pre 2016.  I guess they may not have wanted to make it look political.

http://www.series65examtutor.com
 
Sep 29, 2020 - 1:02am

When you say "go after him", they haven't let it go.  It's still in dispute.  (below is from New Yorker, I think, about the $70 MM refund he obtained and which may have been fraudulent).

 

'  Under tax law, refunds of more than two million dollars require approval from Congress's Joint Committee on Taxation, which also got involved. In 2014, an agreement between Trump and the I.R.S. appeared to have been reached, "but the audit resumed and grew to include Mr. Trump's returns for 2010 through 2013," the Times report says. "In the spring of 2016, with Mr. Trump closing in on the Republican nomination, the case was sent back to the [congressional] committee. It has remained there, unresolved, with the statute of limitations repeatedly pushed forward." '

 
Sep 28, 2020 - 2:22pm

PR shitstorm. Trump got away with lots of shit but this is one of those things that he might not be able to get away with. I'm betting most people would think "This guy didn't pay jack in taxes while making millions of dollars? I make a fraction and paid more taxes than that. Fuck this asshole." Also, lots of people take issues with tax dodgers. Although people have become so ridiculous that I won't be surprised if this ends up increasing support for Trump.

Not to mention possible tax fraud that could land him in jail. Imagine a sitting president or former president going to jail. 

 

 

 

 

 
Sep 28, 2020 - 2:22pm

Wow, I agree with you.  The probability of indictment while in office would be close to 0.  DOJ has had the opinion that a sitting POTUS can not be indicted while in office.  Also, these days, the DOJ is headed up by Bill Barr who is a staunch supporter of the POTUS.  I really do not know how this will effect the election.  I think the story that broke was only part 1 with more to follow.  Only time will tell.  

http://www.series65examtutor.com
 
Sep 28, 2020 - 8:59pm

I agree and disagree. I think you're correct all except the jail time- I think Trump could do all short of blatant murder and be immune. But I could be wrong. I hope I'm wrong. I'll happily admit I'm wrong if it comes to that. But I am doubtful of anything transpiring other than some more moderates reconsidering their Trump vote and some right wingers saying Trump is the glorious fearless leader who should be immune from taxes. And a lot of people just not caring very much.

“The three most harmful addictions are heroin, carbohydrates, and a monthly salary.” - Nassim Taleb
 
Sep 29, 2020 - 1:02am

What do you mean about the jail time?  Tax fraud is intentional and is a criminal violation of the law, punishable by jail time.  Whether or not he goes to jail is another issue?  The probability of indictment while in office is probably close to 0% while the probability of indictment when he leaves office is pretty high, partly because he may have committed fraud for many years and partly because he has pissed off lots of people along the way.  

http://www.series65examtutor.com
 
Sep 29, 2020 - 4:11pm

I'm willing to bet that Trump did something illegal during his time as a Real Estate developer. I wouldn't be surprised.

Tbh though, the Democrats are gonna launch an investigation and fail miserably because they don't know wtf they are doing. they are too myopic and hitting Trump where it doesn't hurt. There are million other things they could be doing to actually hurt Trump but they are too dumb for that nowadays.

John Bolton said something along those lines with the whole Russia probe.

 
Sep 28, 2020 - 2:22pm

Disappointed with both candidates this election. When I think of the GOP and the values they stand for Trump is a poor nominee. Trump is a sleazy businessman who is nominally religious at best.Irrittaed with Pence trying to paint him differently. Same goes with moderate Dems. Both Biden and Harris have a past history supporting policies that oppressed minorities rather than helping them.

If this is the best both parties have to offer I really wouldn't be surprised if a 3rd party independent comes out of nowhere and wins the 2024 election.

 

Array
 
Sep 29, 2020 - 1:02am

While there are plenty of GOPers who have strong values, you will not find any of them in Congress.  They signed a deal with the devil, which includes looking the other way, no matter how unethical the behavior.  Who would have thought, we would have a guy in office who disparages his own intelligence agencies and top military people while sucking up to Putin.  Keep in mind, this is a person who dodged the draft 5 times and who has apparently screwed over the government from a tax perspective for years.  I pay taxes to support the United States in accomplishing various objectives.  He claims to be smart because he does not pay taxes.  

http://www.series65examtutor.com
 
Sep 29, 2020 - 1:03am

You can't generalize the GOP by looking at Trump. He ran as a libertarian in 2000 (he's not even Republican). Remember McCain and Romney? They hadn't "signed a deal with the devil". Honest hard working business men who had strong religious and moral values. On top of that McCain boldly served this country in Vietnam. That's what I want from a GOP candidate. 

Array
 
Sep 28, 2020 - 2:22pm

Tbh, if Trump just released his tax returns and made a performance in protest of how ridiculously wasteful our tax revenue usage is, he'd gain a lot more supporters. Hell, I, perhaps one of the most vocal critics of Trump and his policies, would support that.

Imagine him walking into the House UNANNOUNCED with his ENTIRE TAX FILING HISTORY since he turned 18. Everyone's watching. Democrats are just confused and offended (like they always freaking are). Republicans are nervous because they don't know WTF this crazy motherf***er is gonna do this time. The media is just trying to surround him like a pack of hyenas they are.

He nods at Pelosi with a stern look. He proceeds to SLAM his entire tax return history on the rostrum. He then stands silently for about a minute, just looking around slowly, still with that stern look on his face almost pulling off the Clint squint. When he finally opens his mouth, he speaks with his usual energetic yet cavalier voice, "Yeah. I paid very little in taxes, complete opposite of my great HUUGE beautiful wall. I know you're going to ask me, 'Donald but you own these HUUGE beautiful buildings, how come you pay less taxes than a grocery store clerk?'. Then I'm going to reply, 'Well taxes are dumb. I mean they are important but the way this country currently does taxes is just dumb, dumber than this maid I fired once. (Thinks to himself, "but she had these HUUGE boobs. Super annoying accent though, Donny likes his maids without weird accents. But I can't say that in public".) So I'm just here to show that. We gotta cut taxes and make them smarter. You know make it work for America. Rich people are gonna avoid taxes anyways you know.' "

Republicans all rise up and give standing ovation (let's forget that a lot of them probably don't want to), despite the fact that Dear Leader didn't provide any detail whatsoever on how to reform tax laws. Democrats just stay still and pout. Some may even consider booing (looking at you AOC, you radical). And the media goes NUTS.

If I were the POTUS, that's what I would do + literally point out exact places with discrepancy btw my tax and my income and explain why I deserved it, how the IRS can suck it, and how f***ed up the tax system is.

PS: Wonders of caffeine.

 
Sep 28, 2020 - 2:22pm

I can't believe it either. Maybe my exit op should be SNL. 

SNL comp is pretty crazy.

1st year :147K + Benefits

2nd year: 168K + Benefits

5th year: 300+K + Benefits

Not to mention all the advertising deals, movies, and shows.

Heard Kenan Thompson & Kate McKinnon pulls $25K per episode x 21 episodes = $525K.

 
Sep 28, 2020 - 2:22pm

I think this looks bad for Trump either way you cut it. On the one hand, he has a stable business but uses accounting tricks and takes advantage of every loophole to reduce his taxable income. That means that the GOP tax plan that he signed does in fact favor the rich and did not effectively close loopholes. On the other hand, he runs a business poorly, so he gets repeated net losses and may not be able to pay off debt. That means he is not the shrewd businessman he made himself out to be, just a trust fund baby coasting off of name recognition. In short, he's either a con or a failure. In the end, none of it will really matter because most people seem to have their vote set in stone

I’m a fun guy. Obviously I love the game of basketball. I mean there’s more questions you have to ask me in order for me to tell you about myself. I'm not just gonna give you a whole spill... I mean, I don't even know where you're sitting at
 
Sep 28, 2020 - 2:22pm

Most people have decided but this story is going away any time soon.  This story is part 1 with more to follow and this will be the news until the election.  All Americans should be concerned about his hundreds of millions of dollars of debt and how comprised he appears to be.  I would like to know which bank or country loaned him  money.  My guess would be that Deutsche Bank is involved but the lender could also be a foreign country.  

http://www.series65examtutor.com
 
Sep 29, 2020 - 1:02am

A lot of it is debt, of course.  The DC hotel has something like $200MM on it, and he cashed out on trump tower...those are two of his bigger notes.  But also, there is suspected money laundering at his golf courses in Scotland.  They vast expenses don't make any business sense at these courses (unless something else is going on, like money laundering).

 
Sep 29, 2020 - 1:03am

This is just another artificial controversy. Nobody in real estate pays taxes. The tax code is structured to heavily favor real estate investors. I used to do commercial lending and I've seen endless rich people--Democrats and Republicans alike (I'm in D.C.)--earn 7 and 8 figures and pay virtually nothing in taxes (if all you cared about was tax avoidance, you could literally never pay a penny in federal income taxes ever in real estate if you focused on that mission). At the time, I was making $70,000/year and paying more in taxes than one of our top clients. It was enraging. Hate the game, not the player. Nobody would pay more in taxes than what they are legally required to pay. In addition, the tax code is what it is--you can carry losses forward on your taxes indefinitely, so if you have one really bad loss you can offset years of income. This isn't a mystery and shouldn't surprise educated people who work in the financial services industry.

The real scandal is how politicians go to Washington broke and leave with breathtaking wealth. Trump entered politics breathtakingly wealthy and will end up being less rich as a result. 

 

BTW, none of this is news. When I was a little kid in the 1990s, I distinctly remember my father criticizing Donald Trump as not a successful businessman. Trump having huge losses is like saying that space is black. Very few people believed he was Elon Musk. 

Array
 
Sep 29, 2020 - 1:03am

real_Skankhunt42

BTW, none of this is news. When I was a little kid in the 1990s, I distinctly remember my father criticizing Donald Trump as not a successful businessman. Trump having huge losses is like saying that space is black. Very few people believed he was Elon Musk. 

The Rust Belt rubes absolutely believed he was an uber successful businessmen. At the very least, this development shows he's (again) been completely full of shit when criticizing Obama for paying only 20% of his income in taxes while in office. Or in 2015 when he claimed "you've seen my statements. I do very well. I don't mind paying a little more in taxes. The middle class is getting clobbered in this country" I could go on. 

It also shows that modern economic populism that Trump rode into office was a fraud - this country has always been set up to benefit the rich, and Trump and Co. had no intent of changing that, as evident by the only significant piece of legislation passed in 4 years was a massive tax cut for his rich buddies. (see also: Boris Johnson).

when you're accustomed to privilege, equality feels like oppression
 
Sep 29, 2020 - 1:03am

The story isn't about typical real estate deductions like depreciation.  He's in a dispute with the IRS over tax fraud.  And if he leaves DC poorer, it's through his own mismanagement.  He's been siphoning off to himself and his friends as much federal money as he possible can.  If he wasn't POTUS, he DC hotel likely would be in default by now.  It's overleveraged with an unobtainable proforma...it's been propped up by lobbying and self dealing.

 
Sep 29, 2020 - 1:03am

Trump got elected after talking about sexually assaulting women on camera and you think his "conservative" constituents care about whether or not he pays taxes??? You think Trump supporters care about whether or not a "billionaire" pays taxes???? There are too many immigrants, ANTIFA members, and other "real problems" for them to care about this 

 

 
Sep 29, 2020 - 1:03am

Fuck you I am an immigrant and I've been paying taxes even when I was a Green Card holder.

Most Americans are descendants of immigrants who came over less than 200 years ago and you guys think you fucking own this land.

Those Mexicans are just doing Reconquista 2.0 taking over Cali, TX, and the Southwest, all of which used to be Mexican territory until century and a half ago.

 
  • VP in IB - Gen
Sep 29, 2020 - 8:21pm

Only problem is that Mexicans are lazy. My ancestors came here, worked hard, and BUILT this country from the ground up. Now people like yours are enjoying the fruits of THEIR labor. You leech off the system, commit crime, deal drugs, rape, the whole nine yards.

Sure, my people aren't perfect, but they sure as shit are better. 

 
Sep 29, 2020 - 1:03am

I genuinely don't get Americans who still support Trump. All the nonsense about "freedom" and "leaders of the free world" and you're president is a fraudster. 

To folks on this forum: shame on y'all for defending him based on NOL carryovers. If you can't see what he's doing you must have garbage accounting knowledge (I suck at accounting and even I can recognize the game he's playing). 

 
Sep 29, 2020 - 4:33pm

I'm trying to understand this better and I'm interested in your take as a real estate professional who probably knows much more this all than I - which docs can I reference in order to make a distinction between NOL carry forwards and tax evasion practices that he engaged in? What were some of the practices that are out of bounds, illegal or even just overly aggressive? I am NOT saying I think he didn't do anything wrong - where can I find the source information or how can I evaluate and form my own opinion on this (or if you're obliged, I'd also love a handholding summary of your take)

 
Sep 29, 2020 - 4:40pm

Anchor

I'm trying to understand this better and I'm interested in your take as a real estate professional who probably knows much more this all than I - which docs can I reference in order to make a distinction between NOL carry forwards and tax evasion practices that he engaged in? What were some of the practices that are out of bounds, illegal or even just overly aggressive? I am NOT saying I think he didn't do anything wrong - where can I find the source information or how can I evaluate and form my own opinion on this (or if you're obliged, I'd also love a handholding summary of your take)

I'll start by confessing I'm no expert in RE accounting, Trump in general, or this story (ie. what documents did NYT get? Idk). 

As far as I am aware, there isn't going to be a single document or two that you can hold side-by-side to produce an, "Aha!" moment. Situations like these are typically difficult to identify as a straight forward illegal action, because you often need all the information detailing every transaction (which is rare to have). But if there is a strong enough case based on available information, a judge can give you legal right to seize the documents for full examination. Again, not a legal expert so I'm not sure exactly how this plays out, but I have seen scenarios where it has unfolded in this manner or very similar. And again, who knows if any of that can be done with a sitting president.

re: forming a reasonable opinion. Honestly in this situation it's difficult and I'll admit my opinion is being affected by my general bias of: 'How can someone with dozens of failed businesses, and questionable success, be a billionaire?'. Additionally, via work contacts (read: old white dudes who've been in RE for a while), I've heard that there was considerable surprise (suspicion if you're the conspiracy type) when Trump did his first big NYC deal. To understand the source information in its entirety is probably a fulltime job, so I think the best you can do is sit there and try to rationally think about all the different angles/approaches.

So do I know what happened and/or how it happened? Definitely not. Do I think he's engaged in some sort of illegal activity? Absolutely. I mean he is in the middle of a decade-long dispute with the IRS over ~$100M. 

re: handholding. There is no such thing as an easy example for something like this. At a high level, you sell all relevant parties (IRS, Lender, Investors) a different story on the value of the property. The variance is your proceeds, with which you can pay down debt from previous deals (to make it seem like you do in fact have the funds) and/or fund new ventures. Also important is to keep certain stakeholders happy. For example, if you can make an MD good money based on fees, that MD will vouch for you enough to forget things like creditworthiness.

 
Sep 29, 2020 - 1:03am

I have a hard time believing that the wing of American politics that praises Trump's tax evasion accountants are the patriots they claim. If the idea is "screw government services", well more of the country depends on those services than those who don't including the large DC infrastructure of business owners and government contract workers. That's a glaring hole in the argument for "making America great" or whatever the national call is.

 
Sep 29, 2020 - 4:29pm

Ok - I really don't have a horse in this race but I ask that you guys try to think through this without immediately jumping into the mindset that I'm defending Trump as a person, president, leader or business man - but instead just seeking to better understand this news:

Are the bankers in this thread reporting to the IRS and compliance all of your clients who utilize NOL carryforwards in capital intensive in industries?

Do you pay more than the required amount each year on your taxes?

Did Trump or his accountant use illegal or even grey-area methods of some sort to produce fake losses or something?

Is your problem with the tax code, some particular practice, or just Trump in general and a vague emotional notion that this is a bombshell of wrongdoing?

If not, explain to me how we KNOW that Trumps tax figure represents anything other than a typical corporate real estate tax practices within the bounds of the tax code. I definitely may be missing something, but aside from an emotional headline targeted at an audience much less financial literate than this website, what's the meat here?

 
Sep 29, 2020 - 4:40pm
  • Do you pay more than the required amount each year on your taxes?

probably

  • Did Trump or his accountant use illegal or even grey-area methods of some sort to produce fake losses or something?

Yes, read any article from centrist or left leaning news companies

  • Is your problem with the tax code, some particular practice, or just Trump in general and a vague emotional notion that this is a bombshell of wrongdoing?

Not too sure about if this question is trying to force us to separate these distinct items, but yes I have issues with the tax code, yes some particular practice trump has been doing, yes I now further dislike Trump in general, and I wouldn't say bombshell but this is just *another* thing that I expect would be a nail in the coffin for a President of the United States. It's crazy that our political system is set that so many people choose this man. I feel like I could walk into a bar in any city and find a man more fit for the job.  

 
Sep 29, 2020 - 4:40pm

The report is beyond the common RE Tax return that shows a loss because of depreciation or NOL carryforwards .  It's alleged that he committed fraud in his filing for the $70 MM tax refund (related mostly to his bankrupt casino business).  To long to post here, but the allegation is that he misrepresented himself in obtaining the refund.  trump and the IRS have been fighting it for several years.  The other part from the NYT was the question of consulting fees paid to Ivanka and others (that part seems less clear, at least to me, on whether it's a loophole, or fraud).  

As far as fake losses...yes, maybe.  His Scotland Golf Courses really look like money laundering operations.  

 

 

 
Sep 29, 2020 - 4:40pm

Even "if" it's legal (not proven yet), it's hypocritical. Trump touts himself as a successful business man who is for the middle class American family. Yet a guy who is comfortable is dodging taxes through loopholes and did nothing in office to close these loopholes out. It's a slap in the face for your average Joe. 

Array
 
Sep 29, 2020 - 4:40pm

A lot of successful businessmen take advantage of legal tax loopholes to avoid paying taxes. Not even considering for a moment that many of the most profitable companies in the world pay little to no tax and park their money offshore or use elaborate legal entity structures to avoid the tax bill. To your point on being for the middle class American family -- you can do that while still minimizing you tax bill. They're not mutually exclusive.

 

 
  • Intern in IB - Gen
Sep 29, 2020 - 8:21pm

Yeah I hate Trump more than a lot of people but if there is a legal way to pay less (or zero) taxes people are gonna take it. People/companies that avoid taxes like Amazon or Trump aren't the problem, they're just a symptom of the problem: too many tax loopholes

 
Sep 29, 2020 - 8:22pm
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