Posted on 10/04/2016 12:38:21 PM PDT by Sir Napsalot
Former Governor Jennifer Granholm (D-MI), a Hillary Clinton supporter, responds to a New York Times report that Donald Trump may have avoided paying federal income taxes for 18 years.
"Donald Trump is the guy who has been tweeting that half of America doesn't pay their taxes when there is a big deficit. Not every American looks for every loophole under every rock," she said on MSNBC's 'MTP Daily' on Monday.
(snip)
"....He's not paying for that. We're paying for that. There is a fairness issue that is very important."
"He says he wants to run America like he runs his business. And you see a billion dollar loss," she added.
(Excerpt) Read more at realclearpolitics.com ...
The more I learn about fdr, the more I despise him.
“Not every American looks for every loophole under every rock,”
She’s blonde, right?
Incoming!
5.56mm
I am still trying to forget the fact that that woman was my boss.
Trying, and failing when I see sh*t like this.
CC
Indeed. Without question.
Mrs Clinton routinely pays 20% more than she owes in taxes, just to help the country run more smoothly. And she has vowed to stop taking deduction for donating used underwear to the poor, IIRC.
And I would never even THINK of donating used underwear to anything or any one.
I would be ashamed to admit I did it if I did and certainly would never have written it off on my taxes.
Deducting a loss is not an obscure loophole.
It’s one of the most used deductions around.
Jennifer (”You ain’t seen nothing yet! You’ll be blown away!”) Granholm (D-MI) the absolute worst governor in Michigan’s history has spoken. This Leftist woman is an embarrassment to reason and commonsense.
Loopholes are a rule allowed(voted) by congress as a perk to businesses that pay Lobbyists to pay the same politicians that pass the laws.
My tax accountant, since 1976, asked one question to my wife and me. “If there was a question of one dollar to the government or you keep it.” my wife replied, “ give it to the government”.
The accountant said “NEVER, make them prove it”.
She has never had a government audit any of her thousands of filings. She has over 300 clients. She vows to go with any client that is audited!
I look for every deduction I can legally take.
If slavery is 100% free labor at the point of a sword, our current system is 50% slavery.
“Anyone may arrange his affairs so that his taxes shall be as low as possible; he is not bound to choose that pattern which best pays the treasury.
There is not even a patriotic duty to increase one’s taxes.”
-Justice Learned Hand
1872-1961
Even the Free Turbo Tax program looks for every legal tax break/deduction you can take.
PERSONALIZED TO YOU!
We ask questions to get to know you. Then, we’ll search for every tax break that applies to you.
https://turbotax.intuit.com/personal-taxes/online/free-edition.jsp
Great tax planning, Trump. Lose a billion so you could shelter income. Idiots!
We have got to get back to a primary language mission : Stop people from using the word “Loophole”.
He followed the law to the T. Gun transfers are all legal. Loophole is a word that is used in witch hunts.
My friends mom and dad 30 years ago would go on vacation, visit a used book store to purchase inventory for their ficticious business and write the whole thing off.
Keep talking libs.
Don’t get upset about this. You cannot fix stupid. You can, however, try to keep them from positions of power.
If they use Turbo Tax they do
I would love to hear how much EXTRA she pays in taxes every year...
And does she return her refund check?
I really hate this. You guys need to understand how to explain this. Its not a loop hole. If your Space-X or Uber or Amazon or Trump building a sky-scraper, you have one thing in common. You will show a loss for years before you show a profit. And if you could not deduct those loses, nobody would ever build large things that take more than a year to build.
The IRS makes you file taxes every year. But many business have very large projects that take far more than a year to build, go to market and finally show a profit. So of course you can bring your losses forward to offset future profits. Those profits only exist at all because that year has no costs that all came in previous years.
Trump builds big things. It takes more than a year to build a sky-scraper, so of course the tax system accounts for that by rolling forward losses. Henry Ford would not have built the first car, Steve Jobs would not have built the first Mac without this type of tax system. If you want great men to build great things you have to have a tax system to allow them to do it.
You can bet Granholm has an accountant to do her taxes. Does she tell him not to use all the deductions so she can pay more taxes? This is so much nonsense. They must have a very low opinion of American voters.
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