Posted on 10/02/2016 9:39:24 AM PDT by Biggirl
Sunday on NBC’s “Meet The Press,” while discussing The New York Times report on Republican presidential nominee Donald Trump suggesting that he could have legally avoided paying federal income taxes for the last 18 years, former Mayor of New York City Rudy Giuliani said “the reality is, he is a genius.”
(Excerpt) Read more at breitbart.com ...
And the point here is it was done LEGALLY..now if anything ILLEGAL had been done different story, but it was ALL LEGAL..and who wrote the tax codes back then..William Jefferson Clinton that’s who..this is a HUGE nothingburger, Trump wrote about his 1 billion dollar loss in his book “The Art of the new deal” so he already revealed this info
Yes, he is, and frankly everyone should do the same.
These grifters don’t deserve anymore of out hard earned money.
I also find it interesting that Hillary knew enough about this to mention it at the debate.
If they don’t tweet about NYT then they miss the boat
Nobody would look at some poor person and say "they didn't pay their taxes" when in fact they didn't owe any taxes.
It isn’t playing well with ANYONE I know. Conservative, Libertarian or otherwise.
All kinds of things are LEGAL, that doesn’t make them right.
ridiculous
.... no genius to lose money investing ...in the first place
and no genius to “save on your taxes” either (any CPA or TurboTax would enter the appropriate legal deductions and the rest is just arithmetic)
this is a total complete Non-issue. Better for Mr Trump to keep focus on Clinton’s reported $200Million mostly-crooked slush fund AND ITS SOURCES...enemy Moslem IslamoNazi dictatorships and Soroz .. she’s totally sold out the office of the Presidency (if she gets it) to America’s enemies
So when you and your friends fill out their taxes do they mark that they have exemptions and do they take deductions for mortgage interest, charitable giving, etc.?
Are people expecting now that we pay more taxes that the IRS says that we owe?
If I take deductions does that mean I’m not paying my “fair share”? If you don’t want deductions for losses, interest etc. take them out of the tax code.
Liberals who demean legal tax reduction should be referred to Supreme Court Justice Learned Hand (first black SCJ, IIRC) who had something to say about legal tax avoidance.
Cause NO ONE CARES!!
we’re falling apart. Who cares about this?
and it kicks A@@ having a right hand man that NEVER Apologies but attacks.
Rudy’s a smart guy and a good guy.
Trump!!!!!!!!!
This is a pivot issue:
The point isn’t whether I, perfectly legally, offset my earnings with my losses. The issue is simplify the tax code, taxing all income, once, at the source, and at the same rate, so that our government has the revenue it needs and taxpayers can have some confidence that everyone is paying their fair share. As it is, we have Bill Gates who is richer than even me transferring his never taxed stock into a charitable trust fund; General Electric not paying income taxes because of energy credits, the New York Times not paying taxes because of losses. All perfectly legally. But, all the deductions, credits and other provisions of the tax code have the effect of leaving the government short of funds and the average taxpayer wondering if the system is rigged.
A related point is that I lost $900 million, according to the New York Times, and have made perhaps the greatest comeback in business history. I talked about this myself in my book The Art of the Comeback, which is maybe where the Times got the idea I lost a lot of money. The reason why this, too, is important is because we need this kind of thinking to take us out of our underperforming economy and our perennial deficit in order to make our country great again. The national debt is now $20 trillion. Most Americans live paycheck to paycheck. Some people are doing fine, like the Clintons and me, and I notice they themselves have a tax-exempt trust fund. But too many of our people haven’t had a raise in nearly twenty years, are trapped in neighborhoods with poor public schools and violence and no jobs.
It's always RIGHT to file your tax returns correctly and on time.
Trump did that and the IRS audited to make sure it was CORRECT.
Now if the IRS would look into the Clinton Foundation's income and expenditures and the LLC's and trusts created by the Clintons to buy houses for Roger Clinton and others then maybe your statement would make some sense.
Like any smart executive he would have relied on the advice of people who focus all their talents and training on understanding the tens of thousands of pages of purposefully arcane tax laws. They earn their keep by legally saving their employers more money than they’re being paid. Funny thing, but I recall there are quite a few such people and businesses dedicated to performing the same service for everybody. I think they’re called “Certified Public Accountants”.
Link for enlightenment?
“All kinds of things are LEGAL, that doesn’t make them right.”
Are you kidding me? You wanted him to pay taxes on a net loss? How does that even work? Methinks you are a Hillary troll.
They define what fair is, the tax code is written by groups to protect themselves from paying a lot more. They hire lobbyists and give political donations to our overlords.
The basic concept is what Al Capone did.
I concur with you, if the tax code is full of loopholes why should there even be the ability to itemize.
He may even garner the support of Mittens in the aftermath. Because Romney actually did overpay by not using all available deductions even though he remarked on several occasions about the importance of only paying all the taxes that are legally required and not a dollar more. “I don’t think you want someone as the candidate for president who pays more taxes than he owes.” I believe were the exact words.
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