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 ...
But every American DOES pay taxes only on their net income not on their gross income - which is all Trump was doing here. You don’t pay taxes on losses.
Yeeah, right Jennifer Granholm Rainman.
Yo, Jennifer, ten minutes to Wapner.
Because they consider his taxes as being rightfully their money.
Warren is still contesting his taxes from 2002 I believe on some issue.
Yes, they do, Jennifer. How much did she pay her tax accountant to look under rocks?
With that attitude, she likely spent MI’s tax dollars willy nilly without a care.
Oh, what a bunch of nonsense!
LOL I’d like to see the look on her face if Trump said that at least he didn’t write off his used underwear as a tax deduction.
More importantly, the smart ones hire a bunch of accountants, lawyers and other well paid taxpayers to look for such loopholes. I wonder how much in taxes were paid by this group who found the $900 Million in write-offs?
I consistently marvel at how the liberals and their buddies in the press fail to understand that taxes not paid by corporations are used to hire people who pay taxes and otherwise enrich the economy. Well, maybe because their rich friends make their money in industries that produce information requiring little human interaction, not products or services that are almost entirely labor-driven.
Pray America wakes
uhhh.....if we didn’t H&R Block would have gone out of business decades ago.
We’ve been dumbed down. Around tax time, I over-hear lots of young people talking about how big their ‘tax refund’ was...people working behind a cash register for example. These morons have no idea whether or not they paid taxes, or what the definition of a refund is. Odds are they got ‘work-fare’ in the form of EIC.
I’ve long thought that high schools should teach kids how to fill out a 1040EZ.
Oh - and automatic withholding dumbs people down even more...especially in an era where paper pay stubs are rare. Eliminate it, and have people pay every month. That way they at least have some notion of what they pay.
No, “WE” are not paying for that, unless you’re a socialist.
Trump paid what he owed under federal law. His taxes are not federal funds until after April 15th. When the returns are filed, whatever federal tax laws deem he owes then becomes public money. How your democrat cronies waste it is where you should focus.
But, “WE” are paying for the $6 billion missing from huillarys state department. So, leave Trumps money alone and put your efforts in finding THAT money. While you’re at it, check out all the “loopholes” the clintons have taken, and I don’t mean just in taxes.
It’s not a loophole.
It is simply a matter of fairness to allow unlucky people to offset the losses of a bad year against income in future years.
The inability of some Democrats to understand the necessity of loss carryforwards is why those Democrats are not qualified to hold public office.
I don’t see how deducting a business loss is a loophole under a rock. Every business can and does use it. Of course a person has to actually have a business so most politicians wouldn’t know that.
No Jennifer, not all do . . . some actually go looking for a hookup on nationally televised TV dating shows . . . and look like air-headed blondes while doing so . . .
Are you frickin kidding me?
Any American doing their own taxes uses TurboTax or one of the several equivalents. Because taxes are somewhat complicated in the sense that this number has to be found out before filling out that number, but which talks back to the first number to some extent. And the programs are astronomically cheaper than going to a CPA or having go thru the rigamarole of an audit. You get to print out your forms in duplicate, you get cross checks between state & Fed. It’s kind of boneheaded not to use one of those software packages unless you are a straight W-2 employee.
When you finish any of those returns, there is a “deduction finder” (or equiv) which looks for deductions suggested by the activities you reported. If you have rental property, did you depreciate your washing machines? Did you deduct your maintenance costs?
This is simply a stupid, inane comment by a ninny. It is a much easier way to comply with the law, which is what users of these programs are trying to, and only a full on contemptuous idiot would think otherwise.
Little Jenny is as lost as ever. Poor Michigan’s still low because of her and her Detroit cronies.
47% don’t look for loopholes, because they have giant sinkholes to not only pay nothing, but GET money.
A good percentage of the other half use tax preparers, who know our stupefying tax codes, to minimize their tax burden (look for ‘loopholes’). That’s being fiscally smart.
The remainder either have simple 1040EZ returns with no ‘loopholes’, or are dumb and don’t try to minimize their burden.
I hope Trump does some ‘U.S. Income Tax 101’ in his speeches.
“Bill Clinton pardoned the biggest tax cheat in American history(Marc Rich) on the last day he was President for one million dollars in cash,, the Democrats are beating a dead horse”
EXCELLENT point.
If it is in the code, it isn’t a loophole. Why pay more than you really owe?
Granholm is trying to shore up the Dem base. Because most of them pay no taxes, nor file a tax return, they have no clue as to the laws. This is just to keep Dems on their “plantation” if they think they’re gonna jump.....
Her blather won’t work on those who pay taxes and try to keep their tax liability to a minimum. We’re not dumb like that....
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.