The #TrumpTaxReturns story has legs for one reason and one reason only: media personalities know that the average American understands little of the tax code outside the income taxes they pay every year. 1/3— Virginia Kruta (@VAKruta) September 28, 2020
They know that they can leave out the millions in capital gains taxes, payroll taxes and other federal taxes — not to mention the billions *with a b* in deductible losses — because most people can't wrap their brains around that. 2/3
So all they have to hear is "Trump paid less in income taxes than you did" and they won't stop to consider the number of jobs he may have created, the local economies his businesses may have sustained, and the other taxes he paid. Job well done. 3/3
That is so very true. Some union leaders I worked with would come to me saying that a business should have to pay taxes on gross revenue, not net profit. Of course they didn’t know enough to state it like that. They just don’t think any expenses should be tax deductible.
Yes, there are stupid people out there. Sometimes I think going back to only property owners allowed to vote isn’t a bad idea.