BaconHound Posted September 27, 2020 Report Share Posted September 27, 2020 Just a wonderful businessman https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted September 27, 2020 Report Share Posted September 27, 2020 20 minutes ago, BaconHound said: Just a wonderful businessman https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html I filed for an extension this year. I'm hoping my account gets my tax bill as close to zero as possible. How about you? WSS Quote Link to comment Share on other sites More sharing options...
MLD Woody Posted September 27, 2020 Report Share Posted September 27, 2020 Trump's not really a good businessman He's skirted on taxes He's utilizing the presidency for personal gain All things that were obvious if you were paying attention. All things that his supporters will ignore. 3 Quote Link to comment Share on other sites More sharing options...
BaconHound Posted September 27, 2020 Author Report Share Posted September 27, 2020 26 minutes ago, Westside Steve said: I filed for an extension this year. I'm hoping my account gets my tax bill as close to zero as possible. How about you? WSS I pay the amount that my income warrants. Quote Link to comment Share on other sites More sharing options...
DieHardBrownsFan Posted September 27, 2020 Report Share Posted September 27, 2020 4 minutes ago, MLD Woody said: Trump's not really a good businessman He's skirted on taxes He's utilizing the presidency for personal gain All things that were obvious if you were paying attention. All things that his supporters will ignore. Quote Link to comment Share on other sites More sharing options...
Axe Posted September 27, 2020 Report Share Posted September 27, 2020 8 minutes ago, MLD Woody said: Blah, Blah Blah Get back to us when you own and operate a business or multiple businesses. Not to mention it's the NY Times 1 Quote Link to comment Share on other sites More sharing options...
Canton Dawg Posted September 27, 2020 Report Share Posted September 27, 2020 52 minutes ago, BaconHound said: Just a wonderful businessman https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html The media plays with the ignorance of the general public regarding tax laws. Carry on. 1 2 Quote Link to comment Share on other sites More sharing options...
Vambo Posted September 27, 2020 Report Share Posted September 27, 2020 32 minutes ago, MLD Woody said: Trump's not really a good businessman He's skirted on taxes He's utilizing the presidency for personal gain All things that were obvious if you were paying attention. All things that his supporters will ignore. Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted September 28, 2020 Report Share Posted September 28, 2020 1 hour ago, BaconHound said: I pay the amount that my income warrants. So if your accountant or H&R Block or TurboTax show you legal ways to lessen that burden what do you do? Seriously? Also just for the heck of it I'm wondering who got hold of his tax returns? No doubt there was collusion afoot with red China.) 😂 WSS Quote Link to comment Share on other sites More sharing options...
Canton Dawg Posted September 28, 2020 Report Share Posted September 28, 2020 Biden is also in favor of a 3% tax on real estate. But hey, socialism doesn’t come cheap. Quote Link to comment Share on other sites More sharing options...
BaconHound Posted September 28, 2020 Author Report Share Posted September 28, 2020 49 minutes ago, Westside Steve said: So if your accountant or H&R Block or TurboTax show you legal ways to lessen that burden what do you do? Seriously? Also just for the heck of it I'm wondering who got hold of his tax returns? No doubt there was collusion afoot with red China.) 😂 WSS Actually it’s pretty simple in my world. I work, get paid and pay taxes based on my income. My accountants job is quite easy 30 minute tax meeting and done. Know if my minions could re-write the tax code to benefit my poor financial decisions and that of my rich supporters I would take full advantage of it and convince the lower middle class I’ve got their best interest at heart. We all know that benevolent rich people when given tax breaks hire the most qualified Americans. Hence our booming industrial economy. Quote Link to comment Share on other sites More sharing options...
BaconHound Posted September 28, 2020 Author Report Share Posted September 28, 2020 56 minutes ago, Canton Dawg said: Biden is also in favor of a 3% tax on real estate. But hey, socialism doesn’t come cheap. https://checkyourfact.com/2020/09/10/fact-check-joe-biden-3-percent-federal-home-tax/ Quote Link to comment Share on other sites More sharing options...
MLD Woody Posted September 28, 2020 Report Share Posted September 28, 2020 1 minute ago, BaconHound said: Actually it’s pretty simple in my world. I work, get paid and pay taxes based on my income. My accountants job is quite easy 30 minute tax meeting and done. Know if my minions could re-write the tax code to benefit my poor financial decisions and that of my rich supporters I would take full advantage of it and convince the lower middle class I’ve got their best interest at heart. We all know that benevolent rich people when given tax breaks hire the most qualified Americans. Hence our booming industrial economy. No no no. All of those big economy numbers. They mean the little guy is winning too! Economy up! That has to be directly good for you, now vote for me! Increasing earnings gap? Never heard of it. You think these tax breaks and economic numbers are only benefiting the already very wealthy? Nonsense! It'll trickle down, just give it time. I know you aren't a dirty socialist, right? Don't question it! Other developed countries do what? No, those are all socialist! Remember, socialist bad! 1 Quote Link to comment Share on other sites More sharing options...
Axe Posted September 28, 2020 Report Share Posted September 28, 2020 2 hours ago, Westside Steve said: So if your accountant or H&R Block or TurboTax show you legal ways to lessen that burden what do you do? Seriously? Also just for the heck of it I'm wondering who got hold of his tax returns? No doubt there was collusion afoot with red China.) 😂 WSS Well, if your (not meaning you) taxes are based off a simple W-2 then there aren't very many options. There is no one alive that does NOT take advantage of EVERY write off or legal tax law opportunity to reduce their tax exposure.. Particularly if you are a business owner. I pay multiple tax lawyers and CPAs to do just that every yr. They save me more than I pay them by far. I would imagine President Trump does so as well on a much larger level. If you've never experienced, or understand corporate tax prep then maybe you don't belong in this thread, let alone starting it. I'm much more interested in politician's tax returns that come into office dirt poor and become millionaires within a couple yrs. 1 Quote Link to comment Share on other sites More sharing options...
D Bone Posted September 28, 2020 Report Share Posted September 28, 2020 16 hours ago, BaconHound said: I pay the amount that my income warrants. Unless proven otherwise by the IRS, Trump did not break any laws... he simply took advantage of the tax laws of the United States of America. Do I think that millionaires and billionaires pay too little in taxes? Yes I do. However, they are all simply taking advantage of the current tax laws - nothing more. I do the exact same thing (to a far lesser degree) as any of the ultra rich do, and I would guess everyone here on this board does so as well... with the exception of you of course. 1 Quote Link to comment Share on other sites More sharing options...
MLD Woody Posted September 28, 2020 Report Share Posted September 28, 2020 19 minutes ago, D Bone said: Unless proven otherwise by the IRS, Trump did not break any laws... he simply took advantage of the tax laws of the United States of America. Do I think that millionaires and billionaires pay too little in taxes? Yes I do. However, they are all simply taking advantage of the current tax laws - nothing more. [P]Too bad there isn't a candidate, or candidates, that want to have the rich pay their fair share [/p] Edit: idk the code for pink from my phone.. 1 Quote Link to comment Share on other sites More sharing options...
D Bone Posted September 28, 2020 Report Share Posted September 28, 2020 14 minutes ago, MLD Woody said: Too bad there isn't a candidate, or candidates, that want to have the rich pay their fair share I got you 1 Quote Link to comment Share on other sites More sharing options...
calfoxwc Posted September 28, 2020 Report Share Posted September 28, 2020 egad. more and more stupid false narratives. Facts don't matter to leftwing cult members - only their emotions do. However: https://www.heritage.org/budget-and-spending/commentary/do-the-rich-pay-their-fair-share But the idea that the rich aren’t paying any taxes is based on misinformation fed to voters. They have been told over and over by politicians and the media that the wealthiest among us — Bill Gates, Mark Zuckerberg, Tom Brady, and Taylor Swift — are paying very little income tax compared to the rest of us. We are told by no less than Mr. Obama that these millionaires and billionaires have all the money, but they don’t bear much if any of the burden to pay for the schools, and the roads, and the police, and the welfare benefits, and the rest of the tasks of government. So time for a reality test. Mr. Obama wants to raise the income tax payments from the top one percent to level the playing field and enhance tax “fairness.” Here are the latest statistics from the IRS for 2011. The top one percent earned 19 percent of the total income and paid 35 percent of the federal income tax. So one of 100 shouldered 35 percent of the entire burden. And the average of the five most recently reported years (2007-2011) is closer to 40 percent. Several years ago Al Sharpton, now of MSNBC said the “top one percent in this country pays very much less than 10 percent” of the income tax. Most Americans no doubt believe the same thing. The top 10 percent pay two-thirds of the income tax. And the bottom 50 percent — all Americans with an income below the median — pay just 3 percent of the income tax. The federal income tax, according to a recent study by the Tax Foundation, is one of the most progressive tax systems in the world. Scott Hodge, president of Tax Foundation, says: “Almost no other industrialized nation depends on the rich to pay the bills more than the United States.” What about the super duper rich? The multimillionaires and billionaires. Warren Buffett famously says he pays a smaller share of his income in tax than his secretary. But when properly accounting for the taxes paid and income earned, the top 0.1 percent paid 16 percent of the income tax. So the top 0.1 percent paid an aggregate amount more than five times that of half the population. That isn’t enough? Mr. Obama wants to raise the capital gains and dividend taxes to 28 percent — almost twice what they were when he entered office. He wants an effective inheritance tax rate of over 50 percent. It’s a Robin Hood strategy. But raising tax rates on the rich is a proven failed policy to increase the share of taxes paid by the wealthy. History proves that cutting tax rates is a better way to get money out of the rich than raising them. In 1980 when the highest income tax rate was 70 percent, the richest 1 percent paid roughly 19 percent of the income tax. In 2007 when the top tax rate was 35 percent, the tax share of the richest 1 percent was more than twice that amount. How did that happen? Raising tax rates on the rich takes money right out from under small and medium-sized business owners and hurts the economy. It takes dollars from employers which leaves less left over for hiring more workers. The best way to soak the rich is to through low tax rates on work and investment which creates a prosperous economy with rising incomes for everyone. You don’t have to believe me. Listen to John F. Kennedy who said in 1962 at the New York Economics Club that “it is a paradoxical truth that tax rates are too high today and tax revenues are too low and the soundest way to raise the revenues in the long run is to cut the rates now.” A lot of our problems in America could be solved if more politicians in both parties thought like that now. - Stephen Moore is the chief economist at the Heritage Foundation. Originally appeared in The Washington Times Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted September 28, 2020 Report Share Posted September 28, 2020 8 hours ago, BaconHound said: Actually it’s pretty simple in my world. I work, get paid and pay taxes based on my income. My accountants job is quite easy 30 minute tax meeting and done. Know if my minions could re-write the tax code to benefit my poor financial decisions and that of my rich supporters I would take full advantage of it and convince the lower middle class I’ve got their best interest at heart. We all know that benevolent rich people when given tax breaks hire the most qualified Americans. Hence our booming industrial economy. Well mine is more complicated. I'm self-employed and I have some rental property so it's something of a pain in the ass. Axe and I do the same thing for a living so I'm assuming that we both get 1099 forms. At this stage the bulk of my income it's from Investments. I've been fortunate. I also estimate my random income. I always estmate a few bucks over just to avoid any pain in the ass audit. Let's not be coy I realize you're only complaining about this because of its generic hatred of whoever the Republican Party is running in this case Trump. You and Biden are hoping it will be a campaign issue. I don't think you assume there's anything illegal here. I also don't suppose you believe that he had someone rewriting tax code 20 years ago. I would also assume that any International businessman or ore multi-millionaire politician is operating some sort of system in which they pay little or no tax. Who knows? Who cares? Well except if you hate the politician or businessman in question. But we are both smart enough to know that the story won't be about legality it will be about class Envy. And I'm assuming that most of the stories will neglect wealthy left-wingers. Just a hunch. "When a reporter asked, "How did it feel to fail 1,000 times?" Edison replied, "I didn't fail 1,000 times. The light bulb was an invention with 1,000 steps." "Great success is built on failure, frustration, even catastrophy." WSS Quote Link to comment Share on other sites More sharing options...
7moses7 Posted September 28, 2020 Report Share Posted September 28, 2020 11 hours ago, BaconHound said: Just a wonderful businessman https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html NY Times = FAKE NEWS 1 Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted September 28, 2020 Report Share Posted September 28, 2020 Not to mention but for you Bidan supporters he's worth nearly 10 million bucks and I don't think he's ever held a productive job. Who knows maybe he gets a cut from his useless son for the influence-peddling he does? WSS Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted September 28, 2020 Report Share Posted September 28, 2020 30 minutes ago, 7moses7 said: NY Times = FAKE NEWS Well certainly slanted. The practice is not uncommon in commercial real estate. WSS Quote Link to comment Share on other sites More sharing options...
TexasAg1969 Posted September 28, 2020 Report Share Posted September 28, 2020 Glad to see all the continued evasiveness, misdirection and outright denial of the usual crowd. It helps me keep my faith in the dumbing down of America.😂 Mr. Big Businessman is great at one thing only, being the greatest bullshipper since P.T. Barnum and/or Charles Ponzi. There is a sucker born every day which is what he means by make America great again. Let them be swindled and love it so much they will thank me for it.🤣 https://news.yahoo.com/trump-paid-just-750-federal-215524990.html PS-and he is keeping at that "released as soon as the audit is done" crapola. As valid as "repeal and replace".🐷🤴 Quote Link to comment Share on other sites More sharing options...
DieHardBrownsFan Posted September 28, 2020 Report Share Posted September 28, 2020 Donald J. Trump FAKE NEWS! Quote Link to comment Share on other sites More sharing options...
TexasAg1969 Posted September 28, 2020 Report Share Posted September 28, 2020 https://www.usatoday.com/story/news/politics/2020/09/27/top-revelations-report-trump-income-tax/3557530001/ Quote Link to comment Share on other sites More sharing options...
TexasAg1969 Posted September 28, 2020 Report Share Posted September 28, 2020 3 hours ago, DieHardBrownsFan said: Donald J. Trump FAKE NEWS! Fake businessman.😂 Quote Link to comment Share on other sites More sharing options...
hammertime Posted September 28, 2020 Report Share Posted September 28, 2020 5 minutes ago, TexasAg1969 said: Fake businessman.😂 Your President! Quote Link to comment Share on other sites More sharing options...
Westside Steve Posted September 28, 2020 Report Share Posted September 28, 2020 Just for the record, and I'm sure even the Liberals understand this so they probably won't admit it, the spin on this story against the president is little bit childish. Take a look at a few other places to don't pay federal income tax at all. It's just the way things work. https://www.cbsnews.com/news/2018-taxes-some-of-americas-biggest-companies-paid-little-to-no-federal-income-tax-last-year/ I know, I know Joe Biden will tax the hell out of them and pass out more and more free shit WSS Quote Link to comment Share on other sites More sharing options...
Vambo Posted September 28, 2020 Report Share Posted September 28, 2020 27 minutes ago, TexasAg1969 said: Fake businessman.😂 Fake Outrage! 🤬 1 1 Quote Link to comment Share on other sites More sharing options...
calfoxwc Posted September 28, 2020 Report Share Posted September 28, 2020 well, everybody knew (with any common sense, which leaves out woodpecker, Tex and a few others) that a dirty October surprise was forthcoming by the left. I suppose they will hire some actress to do a strip tease, take pictures, and put it in the NY times as Judge Barrett. Nothing is off the table. The deep swamp means serious dangerous business, because WHEN PRES TRUMP wins, they out OUT of business. Just once, I wish Pres Trump haters would find fault with obaMao or biden. Just one time. But no, they worship the biden -hunter mafia lies and suck on it. Just really strange. Pres Trump and Pence have done hundreds of GOOD/GREAT things for AMERICA. Biden has never done one. Put your country last on the list of things you care about? pitiful, low-budget and swarmy. Quote Link to comment Share on other sites More sharing options...
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