The New York Times Trump Tax Return Revelations

I could care less what Trump paid in taxes. The important thing is how much do I pay in taxes.

The difference is half the country is jealous of the other half who pay taxes as they make and have far more.

3 Likes

He paid what your boy Obama told him he had to pay you stupid loser. All that ā€œfair shareā€ crap is childish whining. Grow the fuck up you little retard.

You donā€™t have the first clue how much Trump has had to pay in all manner of taxes and payroll taxes and fees and the like. Millions and millions and millions.

What do you pay by the way? Since you want to be up in other peoples business how about you post your taxes in this forum BITCH

How much of your $20 blowjobs do you have to hand over :rofl:

This is why you and your pink raggos are fking morons! You simply are ignorant on how tax law works! Thanks again for proving here to everyone what clueless idiots your lot is, you simply are illiterate monkeys posturing faux paas outrage based on moral relativism!

Dimwitted snake eaters like you make it so easy! :rofl:

Once again the New York Times attempts to make an issue out of President Trumpā€™s real estate holdings working as a tax shelter and reducing income taxes.

In the article the Times completely obfuscates the way income taxes are strategically offset by depreciation, mortgage interest and the entire reason why real estate ownership is viewed as a business.

John Carney writing for Breitbart gets it:

So imagine our guy took out an $8 million mortgage at five percent, paying $2 million cash. Now heā€™s got to pay $400,000 in mortgage payments. He wants to make at least that much so he charges tenants an aggregate of $425,000, which after upkeep comes out to $410,000 of net income. (Remember, if the bank didnā€™t think he could make more in rent than the mortgage payment, it probably wouldnā€™t have lent him the money.) The interest payment on the loanā€“letā€™s call it $390,000ā€“is deductible from his income, leaving him with $20,000 in net income. He gets to keep that and pay no taxes on it, however, because he still gets to apply the $370,000 depreciation charge. He tells the IRS he lost $350,000.

Under our tax code, ordinary business expenses can be deducted in the year they are incurred. But when a business pays for a long-lasting item expected to produce incomeā€“like machinery, vehicles, or an apartment buildingā€“it is considered a capital investment. Instead of getting to write-off the cost all at once, the business is required to write it off over the course of decades. After the 1986 tax code, this was set at 27.5 years for residential real estate. (more)

Anyone who has ever operated a business knows that offsetting income is one of the primary reasons to be self-employed. Additionally, the Times completely skips over the tens-of-millions in payroll taxes paid by the Trump organization and tens-of-millions in property and sales taxes paid by all of the various Trump properties.

In the commercial real estate market it is common sense to offset income tax liabilities with a host of valid annual expenses, long-term capital depreciation and mortgage interest payments. With over 500 individual business entities within the Trump organization the ability to offset income in one asset with expenses in another is simply good accounting.

Additionally, President Trump donates his $400,000 government salary back to the U.S. government. So to accuse President Trump of only paying $750 in income taxes totally ignores all of the other donations and tax payments he makes.

In practical terms no President before Trump has ever had his actual business portfolio so deeply connected to the success of the American economy. It doesnā€™t cost the American taxpayer a dime to have President Trump in officeā€¦. Now letā€™s figure out how DC politicians making $200k/yr are able to become multi-millionaires while holding office.

1 Like

What is their ā€œfair shareā€? I keep hearing this stupid ass talking point, then we see the following:

Year Lowest Quintile Second Quintile Middle Quintile Fourth Quintile Highest Quintile All Quintiles 81st - 90th Percentiles 91st - 95th Percentiles 96th - 99th Percentiles Top 1%
Average Total Federal Tax Rate (percent)
2016 1.7 9.4 13.9 17.9 26.5 21.0 21.2 23.6 26.8 33.3
2 Likes

Hereā€™s some more fun facts for you to considerā€¦

  • In 2017, 143.3 million taxpayers reported earning $10.9 trillion in adjusted gross income and paid $1.6 trillion in individual income taxes.
  • The share of reported income earned by the top 1 percent of taxpayers rose to 21 percent, from 19.7 percent in 2016. Their share of federal individual income taxes rose to 38.5 percent, from to 37.3 percent in 2016.
  • In 2017, the top 50 percent of all taxpayers paid 97 percent of all individual income taxes, while the bottom 50 percent paid the remaining 3 percent.
  • The top 1 percent paid a greater share of individual income taxes (38.5 percent) than the bottom 90 percent combined (29.9 percent).
  • The top 1 percent of taxpayers paid a 26.8 percent average individual income tax rate, which is more than six times higher than taxpayers in the bottom 50 percent (4.0 percent).

Again, exactly what percentage would be a ā€œFair shareā€.

Stop with the idiotic DNC talking points and THINK.

3 Likes

He does not want to consider FACTS. Come on, man.

Heā€™s a Democrat. He lives in a world of lies and deceit and ignorance.

1 Like

Donald Trump writes more off in tax-deductible hair cuts than Hunter Biden makes from China, Ukraine and Rusher combined.

Itā€™s because heā€™s very smart so only smart people love him the most.

But did Hunter Biden pay more or less than $750 tax on making all that sweet sweet green cash money?

Only suckers pay taxes, everyone knows it.

1 Like

The Bidens channel $13.5 million in speaking fees and book royalties through S Corps to avoid a combined 15.3% tax rate for Social Security and Medicare. The Left says nothing and the Right saysā€¦well nothing much. They need to be saying more.

1 Like

For those of you who did not read the Full Article from the New York Slimes and believed Trump only paid $750 in taxes here is towards the end of the Article. Remember Joe Biden helped write and voted for a lot of our tax laws:

ā€œMr. Trump was periodically required to pay a parallel income tax called the alternative minimum tax, created as a tripwire to prevent wealthy people from using huge deductions, including business losses, to entirely wipe out their tax liabilities.ā€

ā€œMr. Trump paid alternative minimum tax in seven years between 2000 and 2017 ā€” a total of $24.3 million, excluding refunds he received after filing. For 2015, he paid $641,931, his first payment of any federal income tax since 2010.ā€

1 Like