Long-concealed Records Show Trump's Chronic Losses and Years of Tax Avoidance

[jonny5]

Trump sucks for a million different reasons. This is just one of them.

Except its moot. Trumps likely paid more taxes than thousands of illegals combined. Hundreds of millions in taxes throughout his lifetime. And indirectly caused billions more in tax revenue through his property and employment of thousands of people.

 

[TomFitz]

Except its moot. Trumps likely paid more taxes than thousands of illegals combined. Hundreds of millions in taxes throughout his lifetime. And indirectly caused billions more in tax revenue through his property and employment of thousands of people.

I sincerely doubt that.

First of all, the current Trumpster trope that Trump actually did pay taxes is false. Not that anyone outside of the little safe bubble Trumpsters live in are in any doubt on that score.

The reckless mismanagement and losses are a big part of that story too, one that Trumpsters bend over backwards to ignore.

Oh, and most illegal immigrants do pay taxes. They have their FICA and FUTA, and income taex’s deducted.

 

[jonny5]

Oh, and most illegal immigrants do pay taxes. They have their FICA and FUTA, and income taex’s deducted.

Prove it.

 

[CaughtInThe]

You know, that’s the part that still astounds me.

I knew exactly who Donald Trump;and, what‘s more important, what he is in 1983.

The only thing that surprises me about any of this is that he was allowed to get this far by conning people the way he has.

the ONLY way he makes it this far is he had everybody and their brother sign those crazy NDAs. all the people that sued him, who eventually got a fraction of the money he owed them, had to sign something he approved.

i bet there are 10s of thousands of people who could have shouted to the heavens if not for the agreements they signed.

 

[azgreg]

Except its moot. Trumps likely paid more taxes than thousands of illegals combined. Hundreds of millions in taxes throughout his lifetime. And indirectly caused billions more in tax revenue through his property and employment of thousands of people.

Prove it.

 

[Tbird19482]

For those saying Trump has paid almost no taxes, How do you go about getting a $100 million dollar refund,
if you paid nothing in?

They are not saying he did not pay anything in , they are saying he paid NO fed. income tax.
He could have paid in say a Million dollars and after filing his income taxes got all that back and like a lot of large Corps. got a tax credit he can deduct over the next several years and that tax credit will lower his taxes for those years to come
It is about time that there is a MIN. income tax paid by large Corps
in 2017 according to the IRS 42% of all corps. having profits of over a million dollars did not pay a cent in US FIT and they expected that to go up to 62% ( or a little more ) after the 2017 tax cuts.
so there are large corps making BILLIONS in US profits and paying NO US income taxes.
these large corps use many things to make their profits that are funded by the FIT and they should help pay for those programs
I don't know about the rest of the people out here but being retired and on SS I don't think I should be paying FIT on my SS for one thing and I should not be paying more in FIT then a corp.making millions if not Billions in US profits
Have a nice day

 

[CaughtInThe]

who would have ever guessed that an American President would downplay a pandemic (thus causing 10s of thousands of extra Americans to die) and it would NOT be the biggest story heading into an election.

 

[GDViking]

Obviously there is no hard evidence of fraud but it looks like he gamed the tax code like every wealthy person does in the country. The tax code was designed by the wealthy for the wealthy.

What does it actually tell us about Trump? It tells us that he talks a big game but in reality he's a horrible business man. Lies about his capabilities should be taken to task. This is not the POTUS we want at the helm to take us out of a recession and repair financial ties to other countries.

I sincerely doubt that.

First of all, the current Trumpster trope that Trump actually did pay taxes is false. Not that anyone outside of the little safe bubble Trumpsters live in are in any doubt on that score.

The reckless mismanagement and losses are a big part of that story too, one that Trumpsters bend over backwards to ignore.

Oh, and most illegal immigrants do pay taxes. They have their FICA and FUTA, and income taex’s deducted.

Not to mention sales taxes...

 

[longview]

They are not saying he did not pay anything in , they are saying he paid NO fed. income tax.
He could have paid in say a Million dollars and after filing his income taxes got all that back and like a lot of large Corps. got a tax credit he can deduct over the next several years and that tax credit will lower his taxes for those years to come
It is about time that there is a MIN. income tax paid by large Corps
in 2017 according to the IRS 42% of all corps. having profits of over a million dollars did not pay a cent in US FIT and they expected that to go up to 62% ( or a little more ) after the 2017 tax cuts.
so there are large corps making BILLIONS in US profits and paying NO US income taxes.
these large corps use many things to make their profits that are funded by the FIT and they should help pay for those programs
I don't know about the rest of the people out here but being retired and on SS I don't think I should be paying FIT on my SS for one thing and I should not be paying more in FIT then a corp.making millions if not Billions in US profits
Have a nice day

Do you realize that you have to have an actual income, Net Profit, to owe any tax on that said income!

 

[Tettsuo]

Can we finally admit collectively that Trump is a terrible businessman and most certainly isn't a billionaire?

 

[Tbird19482]

Do you realize that you have to have an actual income, Net Profit, to owe any tax on that said income!

Worked for a national tax co for several years
Have a nice day

 

[D_NATURED]

Again, why should the same service cost more for one person than another?
The benefit derived from the service is not of concern, but the cost of the service.
Everyone in this country has an opportunity to achieve success, not a guarantee of success.

Quit calling government a "service", it's not. It is a way of organizing the authority of the people. It should, if it's a functional government, SERVE the needs of the people but to call it a service is like calling Las Vegas a game. It's really much more complex than your reductionist definition implies.

As for the cost of the "service" being the same for everyone, that's crap. Trump, and those like him, DO receive more. The rich use the court system more than the poor ever could but we should all pay for it equally? No. The rich get more police protection, more political power and more of everything else. Your argument is myopic and your agenda is obvious. Quit excusing inequity.

 

[The Mark]

That was in response to someone saying,
" Our country is under the spell of fascism and it's killing us. " referring to Trump.

Right-wing extremists are far more of a threat than Antifa.
The USA is currently confronting the dangers of fascism, and it remains to be seen whether we'll avoid it.

 

[longview]

Worked for a national tax co for several years
Have a nice day

So why would you make such a ridiculous statement, as ,
" 2017 according to the IRS 42% of all corps. having profits of over a million dollars did not pay a cent in US FIT "

Right-wing extremists are far more of a threat than Antifa.
The USA is currently confronting the dangers of fascism, and it remains to be seen whether we'll avoid it.

It is fine for you to think that, but it is not the political right calling for de funding police departments,
and attempting to limit the second amendment.

 

[poweRob]

Except its moot. Trumps likely paid more taxes than thousands of illegals combined. Hundreds of millions in taxes throughout his lifetime. And indirectly caused billions more in tax revenue through his property and employment of thousands of people.

You cons got all upset when the left was guessing at his taxes and looky at you here using "likely" to posit a huge guess.

At least our guesses were proven right.

 

[jonny5]

Prove it.

If you believe the NYT, the proof is there.

For 2005 through 2007, cash from licensing deals and endorsements filled Mr. Trump’s bank accounts with $120 million in pure profit. With no prior-year losses left to reduce his taxable income, he paid substantial federal income taxes for the first time in his life: a total of $70.1 million.

RIght there he paid more taxes in one year than most americans pay in their entire life. Certainly more than illegals.

 

[Moderate Right]

Trump’s Taxes Show Chronic Losses and Years of Income Tax Avoidance (Published 2020)

The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.

www.nytimes.com

Well, well, well...

At long last...

Don't know much about the tax code, do you? Enough losses mean you pay no federal income taxes and those totals can be carried forward into future years.

 

[azgreg]

If you believe the NYT, the proof is there.



RIght there he paid more taxes in one year than most americans pay in their entire life. Certainly more than illegals.

Fair enough. I thought we were centering our discussion around the two years in question (16 and 17). Have a great day.

 

[beancounter]

Trump does, or his business entity does. There's a difference, ya know.

Ah, hiding behind the corporate veil, like the brave guy that he is...

 

[jonny5]

Fair enough. I thought we were centering our discussion around the two years in question (16 and 17). Have a great day.

What you replied to was my post that such cherry picking is moot. Why does it matter what someone pays each year? He pays what he legally owes, and he has paid way more than his share for his lifetime. Does your 'fairshare' start over on January 1?

 

[apdst]

Ah, hiding behind the corporate veil, like the brave guy that he is...

Like the smart guy he is. All business owners do it, unless they're stupid.

 

[poweRob]

Prove it.

What? You don't think saying, "He LIKELY" did something is enough proof?

 

[snakestretcher]

Trump is the president should'ent he be the one to "bitch" to the IRS, and congress? All this is about is whether not paying taxes is right or wrong?

Taxes are a good thing! If more people paid taxes without trying to loophole out of doing so and the taxes paid weren't miss used, this would be a better place to live?

Exactly; there are trillions of potential tax dollars, mostly corporate, squirrelled away in offshore tax havens which could be spent making your country (and mine), a better place.

Fact Sheet: Offshore Corporate Loopholes - Americans For Tax Fairness

Key Facts Tax avoidance through offshore tax loopholes is a significant reason why corporations, which paid one-third of federal revenues 60 years ago, now pay one-tenth of federal revenues. U.S. corporations dodge $90 billion a year in income taxes by shifting profits to subsidiaries — often no...

americansfortaxfairness.org

 

[Ethel2]

who would have ever guessed that an American President would downplay a pandemic (thus causing 10s of thousands of extra Americans to die) and it would NOT be the biggest story heading into an election.

Who says its not the biggest issue? It is. By far.

 

[The Mark]

It is fine for you to think that, but it is not the political right calling for de funding police departments,
and attempting to limit the second amendment.

I don't think it, I know it.

Your attempted counters are nowhere near the same level of problem.