Posted on 09/29/2020 7:52:54 AM PDT by Blogger
Contrary to the false impression in the New York Times story, Donald Trump did not avoid taxes. He prepaid them.
In 2016 and 2017, he requested and got an extension to file his returns. As required, he made an estimated tax payment of $1 million in 2016 and $4.2 million in 2017.
Then, it turned out that he did not owe that much in taxes, but rather than demand the money back, he let the IRS keep it and apply it to any future tax he owed.
(Excerpt) Read more at westernjournal.com ...
Trump is very generous
This whole fake story is a vegan nothing burger.
I will be honest. I thought no one would care about such nonsense.
But some do.
BUT I do not think the idiotic indignation will last more than a week.
Then another shiny new toy will come along.
Also, Trump is going to ROCK tonight.
This is stupid.
Not only is the disclosure illegal and improper (not always the same thing), but it is incomplete.
You have to look at his taxes, and his companies’ taxes over 20 or 30 years. He’s a net payor, and a net employer, in a big way. But, in some years he’s a big winner, and in some years he’s a big loser.
The average voter, who is either largely on a salary, a pension, or government support, only thinks year by year, because most years are pretty much alike.
I had one year where I made 10 to 15x what I normally do, and paid proportionately as much tax, because I sold my share of a business it had taken many years to build. Taken out of context, it would certainly give a distorted picture of my taxes and earnings.
“he let the IRS keep it and apply it to any future tax he owed.”
...and since liberals have no concept of economics, Trump denied himself the interest income he could’ve made by getting the money back!! He also likely let them keep the money as to avoid any red flags or future audits. I know because (on a much smaller scale) I’ve done the same thing. I’ve been audited and it ain’t pretty. I’d rather have my kidney stones return.
Get ready for the trial.
I can guarantee you without even looking that Trump pays 10’s of millions in PROPERTY taxes.
He is a real estate investor.
MOST of the taxes that real estate investors pay are property taxes. The way tax laws a written a real estate investor will always pay the bulk of their taxes as property taxes.
But still, “Mission Accomplished”, the sheeple bought it.
interest income - basic savings 3% of 4 million is $120,000 not chump change even for a multi millionaire.
Trump just needs to say the same thing in this debate as last time. I pay as little as possible
Exactly, keep it concise. Focus on making Biden look weak.
People respect the stronger man, even if they disagree with him.
Trump’s taxes are no one’s business. Discussing them is wrong.
Yeah they care more about this story than the story of Ilhan Omar paying people to vote for her and filling in her name on the ballots. They care more about this story more than the illeagal ballot harvesting going on in Houston Texas with Joe Biden democrat operative wonder why?
"Fake News NYT claims I paid $750 in taxes last year. They're idiots and can't read tax forms. I paid 4.2 million and then an additional $750. I let them keep any over pays toward future taxes. So, they owe me. And we will find the person responsible for this felony leak.....now Chris...to your first question "
It'll be another slap-back in the face of Fake News. A big one.
And the headlines about how Trump won’t leave office even if he loses.
Outright BUYING of votes doesn’t merit front page.
Trump baiting them like he always does makes front pages forever.
They WILL ask him that tonight and I think he should just say ...yeah of course I’ll do the peaceful transfer of power thing...just to shut up some nervous independents
I hope President Trump is able to bring a very large lawsuit for defamation against The NY Times. One large enough to make him the new owner of said newspaper.
Years ago, as my college tax professor said, tax avoidance is perfectly legal and expected. However, tax EVASION is illegal and will get you in big trouble.
Time to seriously question other tax returns:
Pelosi
Newsom
Mad Maxine & her husband
Obama
Feinstein
Cuomo
De Blasio—&N his corrupt wife
Sharpton
Jesse Jackson
Dingle
DA Bushes
CLINTONS-—ALL OF THEM
Add as you please....
In the year or 2 immediately following the introduction if “INDIAN CASINOS” all over the country, I am pretty sure Trump lost big.
He was heavily invested in Atlantic City—which now is just about a ghost town.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.