Trump's Taxes

#1,301
#1,301
evillawyer said:
Hopefully someone can do a remake of this classic one as Donny the Moocher

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If taxes were only used for what they were originally intended for ( roads, military, basic civil services like fire department and police) we wouldn't even be having this conversation.


The fact we can view taxes now as mooching shows how far out of bounds this country has taken the notion of what taxes are designed for.
 
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#1,303
#1,303
DynaLo said:
What is Baron getting paid right now? What is he getting paid for? I haven’t seen where Baron is getting illegally paid 7 figures, do you have a source for that? Was it actually illegal 50 years ago when Fred did it?

I would hope since you decided to disparage a minor child you can back up your assumptions/accusations or are you just randomly maligning a kid due to his family name?
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Dude, I never said that. I was making the point that paying Ivanka for "consulting" would be a legit expense while paying Barron for the same services would not be legit. I never said Barron was getting paid.

I think Fred starting paying DJT the 7 figure numbers after he turned 18. Given that the value that DJT provided at 18 wasn't over a million dollars a year (and the fact that Fred was doing tax rate arbitrage/circumventing gift tax), then a substantial portion of that $1M shouldnt have been deductible
 
#1,304
#1,304
NEO said:
I have 3 kids who are all on payroll.

The law states you are not required to pay WC on your own kids nor hold back income taxes or payroll taxes on them.

I give them jobs to do around the office at 17.5 per hour which is a starting salary in my company and pay them up 12,200 per year which is the standard deduction. This means they pay no taxes at all.

This also takes 36,600 off my books every year at my much higher tax rate.

Effectively I have saved myself around 14,000 in taxes.

This is 100% legal.

Anyone who owns a business is literally told by their accountant to get their kids on the books as soon as possible.
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Legally is the optimal word here for "services rendered", Learning the business and such. Lucky kids too.
 
#1,306
#1,306
NEO said:
If taxes were only used for what they were originally intended for ( roads, military, basic civil services like fire department and police) we wouldn't even be having this conversation.


The fact we can view taxes now as mooching shows how far out of bounds this country has taken the notion of what taxes are designed for.
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No, people see it mooching because a Gamecock gas pumper pays more in taxes than a billionaire.
 
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#1,307
#1,307
Septic said:
It is really hard to understand how people who are getting creamed on their taxes internally rationalize that instead of our tax system being COMPLETELY fuqt up, that this is simply a matter of "good tax strategy."
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He is savvy. He's clever about keeping money through really undesirable tax code. Do we want this kind of savvy in public office, though? This type of clever translates to manipulation of politics and power. We want savvy businessmen in politics, but the type who are clever about solving market/business problems and creating value. If your empire is built off a silver spoon, a fake university, reality TV, and manipulation of tax code, how much value did you create?
 
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#1,309
#1,309
DynaLo said:
What is Baron getting paid right now? What is he getting paid for? I haven’t seen where Baron is getting illegally paid 7 figures, do you have a source for that? Was it actually illegal 50 years ago when Fred did it?

I would hope since you decided to disparage a minor child you can back up your assumptions/accusations or are you just randomly maligning a kid due to his family name?
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If that flew over your head you need to revisit Dick and Jane.
 
#1,314
#1,314
Lunch Bucket Joe?

Biden Exploited S-Corp Loophole to Avoid Payroll Tax

The establishment media is all aflutter Monday after a New York Times story over the weekend about incumbent GOP President Donald Trump’s tax records, but it turns out Democrat candidate former Vice President Joe Biden used a series of tax code loopholes to avoid paying hundreds of thousands of dollars in taxes over the years.
 
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#1,317
#1,317
n_huffhines said:
He is savvy. He's clever about keeping money through really undesirable tax code. Do we want this kind of savvy in public office, though? This type of clever translates to manipulation of politics and power. We want savvy businessmen in politics, but the type who are clever about solving market/business problems and creating value.
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I disagree and though I may be splitting hairs - he's not savvy, his accountants are. I'd wager the intern at his accounting firm has a better grasp of economics, tax strategy and shortcuts than all of the trumps combined. I'm not saying he's clinically retarded, but I'm damn sure not prepared to apply the term 'savvy' to his financial acumen.
 
#1,318
#1,318
BowlBrother85 said:
It's hard to argue with this e logic. If The New York Times story is "totally fake" then why not prove it?
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I will never understand the thought process behind feeling we as a society have the right to someone else's income.

You are also looking at his business taxes here, not his personal.

Salaries were taken.
 
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#1,322
#1,322
NEO said:
I will never understand the thought process behind feeling we as a society have the right to someone else's income.

You are also looking at his business taxes here, not his personal.

Salaries were taken.
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It is the same "thought process" which Trump used to be critical of Obama in 2012.
 
#1,323
#1,323
hog88 said:
And financiers will be lining up to refinance that debt in 3 1/2 years. Commercial property is rarely ever debt free.
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What on gods green earth makes you think there are other banks out there willing to do business with him?
 
#1,324
#1,324
NEO said:
I will never understand the thought process behind feeling we as a society have the right to someone else's income.

You are also looking at his business taxes here, not his personal.

Salaries were taken.
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Many jobs that deal with money require a look at the person's finances. Why shouldn't that be the case for a potus? Lots of temptations out there for a person with that much power
 
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