7
   

Do You Try To Take Advantage Of Tax Deductions/Exemptions?

 
 
edgarblythe
 
  1  
Reply Tue 4 Oct, 2016 09:05 am
They employ lots of people, increasingly part time, and they ship lots overseas. They have hidden accounts. They generally suck.
0 Replies
 
saab
 
  2  
Reply Tue 4 Oct, 2016 09:11 am
I think it a my duty to pay taxes - afterall we get a lot back in different ways.
On the other hand, the state gave us the privilage to deduct so why shouldn´t I.
0 Replies
 
DrewDad
 
  3  
Reply Tue 4 Oct, 2016 10:04 am
@Finn dAbuzz,
I actually don't have a problem with Trump taking all of the deductions that he's legally allowed.

Didn't pay federal tax for decades? Good for him, bad for us. The tax laws are obviously flawed.


There are at least four narratives that derive from the tax return leak, though:

1) Trump is a scrooge. He didn't check the box to donate a nominal amount to a veteran's memorial fund.

2) Trump is not a great business person. He lost almost a billion dollars in real estate in a year when the stock market went up 38%. Sad.

3) Trump's policies are obviously flawed, and this proves it. His tax proposal lowers taxes for the rich, but his own returns demonstrate that the rich don't need more tax breaks.

4) Trump thinks everyone else is a chump. He's smart for not paying taxes. What does that make us, who do pay taxes?
0 Replies
 
Ragman
 
  2  
Reply Tue 4 Oct, 2016 12:15 pm
@Finn dAbuzz,
to my estimation taking advantage of tax loopholes is not the core issue. This obfuscates the point. Several times (6 times I believe) Trumpet has used our tax payer's dollars to bail out his multiple bankruptcies and poor business practices. There's a flaw in his character. He stiffed contractors and other businesses putting some out of business, with his irresponsible non-payback of business debts. Such a flawed character should be in jail with other such crooks.

This is the same person that feels qualified to be President. The bar should not be this low for the highest political office in the land; though, in fact, Dubyah has shown us that a below-average intelligence amoral sock-puppet can be a multiple-term Prez.
0 Replies
 
Foofie
 
  0  
Reply Tue 4 Oct, 2016 02:17 pm
@Finn dAbuzz,
Finn dAbuzz wrote:

edgarblythe wrote:

When a company can end up paying nothing, while I have to pay in a certain amount, it may be legal, but it is definitely not right.


Why?

Just because?

Companies pay millions of dollars of taxes even if they can reduce the amount of income tax they pay. They employ millions of Americans.

Virtually every State in the US has a program for attracting businesses, and to one extent or another they all involve tax breaks.

Even New York.


Trump's response was that he has a "fiduciary" responsibility to his investors to avail himself of all tax breaks. Many might not have any idea what "fiduciary" means. The short answer is that he had a legal obligation to pay the least amount of taxes to benefit his investors. He had to take every tax break that was alloted to him. It has nothing to do with whether one wants one's largesse to give more money to the government.
engineer
 
  2  
Reply Tue 4 Oct, 2016 02:32 pm
@Foofie,
These are his personal returns, not the returns of his companies. I can't see how he has personal investors.
Finn dAbuzz
 
  0  
Reply Tue 4 Oct, 2016 03:13 pm
@engineer,
He has thousands of employees.

I suppose it would have been better for them if he had eaten the loss and go out of business.

There are plenty of reasons to dislike Trump and not want him to become president, but this tax thing is not one of them.

The State Dept "misplaced" $6 billion under Clinton's leadership.

Which affected you and I more?
engineer
 
  3  
Reply Tue 4 Oct, 2016 04:42 pm
@Finn dAbuzz,
I think you miss my point. When he says he has a duty to his investors, that is certainly true for his corporation. It is not true for his personal taxes. Same with the employee comments. No one is talking about his corporate taxes.

I do agree with you that the tax thing is way overblown and I'm on record here as saying no one should have to release their taxes to run for office. Trump's in particular would be beyond complicated since there are all sorts of write-offs you can take with real estate. What is an issue is Trump's claim that he is a great businessman. He clearly is not. For people who think he is, this won't change their opinion, but he's no business genius and without that, he has nothing to recommend him other than being a rampant bigot for those who go for that sort of thing.
Finn dAbuzz
 
  0  
Reply Tue 4 Oct, 2016 05:33 pm
@engineer,
I don't think he's a business genius, but he is a billionaire.

He's a successful businessman.

The rampant bigot thing is more overblown than the tax thing.
Foofie
 
  0  
Reply Wed 5 Oct, 2016 01:57 pm
@engineer,
engineer wrote:

These are his personal returns, not the returns of his companies. I can't see how he has personal investors.


If he has more discretionary personal money, after taxes, he can decide to invest in his companies expansion, and that helps his investors indirectly. No?
0 Replies
 
Foofie
 
  0  
Reply Wed 5 Oct, 2016 02:04 pm
@engineer,
engineer wrote:

...he has nothing to recommend him other than being a rampant bigot for those who go for that sort of thing.


He's not a bigot, since he, in my opinion, would not begrudge a minority person from gaining great wealth. If he talks in context of white middle class values, then for those that are sensitive to the standard phraseology that was the vernacular in this country for centuries should just realize that it is very hard to talk like a progressive, when one subscribes to the capitalistic system that got the ball rolling from colonial times on. Remember, if wealthy men, having lunch in Fraunces Tavern, down in Wall Street, didn't underwrite (insure) ships coming and going to the New World, there would bed no New World. Ships sank, cargo lost, sailors lost, and Captains had no desire to take that risk of their ship and crew, if there was no capitalistic insurance.
0 Replies
 
DrewDad
 
  1  
Reply Wed 5 Oct, 2016 02:05 pm
@Finn dAbuzz,
Finn dAbuzz wrote:
I suppose it would have been better for them if he had eaten the loss and go out of business.

He did eat the loss. WTF are you on about?
0 Replies
 
DrewDad
 
  1  
Reply Wed 5 Oct, 2016 02:13 pm
@Finn dAbuzz,
Finn dAbuzz wrote:

I don't think he's a business genius, but he is a billionaire.

He's a successful businessman.

How are you defining successful?

By the standards of my industry, he's lost a ton of money. (Compare his current holdings with what they'd be if he just invested in a baseline index fund. He's left a yuuuuuge amount on the table, really.)




Of course, investing money in the stock market and just leaving it there is boring. It doesn't give you employees to abuse and discriminate against....
Finn dAbuzz
 
  1  
Reply Wed 5 Oct, 2016 02:22 pm
@DrewDad,
Well, when you become a billionaire, I'll call you a successful businessman.
DrewDad
 
  1  
Reply Wed 5 Oct, 2016 02:28 pm
@Finn dAbuzz,
Finn dAbuzz wrote:

Well, when you become a billionaire, I'll call you a successful businessman.

So only billionaires are successful?

Must suck to feel like such a loser....
0 Replies
 
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  1  
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  1  
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