Posted on 10/03/2016 7:15:16 AM PDT by COUNTrecount
And Hillary following up, adding Trump "apparently got to avoid paying taxes for nearly two decades—while tens of millions of working families paid theirs."
However, a look back at Hillary Clinton's tax returns from 2015 (here), proudly displayed by the campaign proving she has nothing to hide - shows something awkward on page 17...
While not on the scale of Trump's business "operating loss", Hillary Clinton - like many 'wealthy' individuals is taking advantage of a legal scheme to use historical losses to avoid paying current taxes.
As Bloomberg notes, this federal tax break is among the wealthy's most used avoidance schemes...
Those 1.1 million folks in the 1 percent, as measured by the TPC, have annual income that averages a little less than $700,000. The top one-tenth of that group, some 110,000 households, average about $3.6 million, according to Howard Gleckman, a senior fellow at the TPC.2
Among the biggest of these givebacks, courtesy of the Internal Revenue Service (well, really Congress), are capital gains and dividends—these are the biggest way the wealthiest benefit.
In the words of Hillary Clinton's campaign manager, "this bombshell report reveals [Hillary Clinton's] past business failures... and may show just how long [Hillary Clinton] may have avoided paying taxes."
* * *
Finally, as we noted previously, the NYT itself is also perfectly happy to take advantage of the US tax to minimize the amount of money it pays to the government: in 2014 the company got a tax refund of $3.6 million despite having a $29.9 million pretax profit, an effective negative tax rate for 2014, which it explained was favorably affected by approximately $21.1 million for the reversal of reserves for uncertain tax positions due to the lapse of applicable statutes of limitations.
(Excerpt) Read more at zerohedge.com ...
“DON’T LOOK AT MY G*****M TAX RETURNS LOOK AT TRUMP’s YOU G*****M M**********G B******S ~!”
(my hilLIARy impression)
um... past losses to carry over.
that’s not a scheme.
Is she still deducting her used undies?
I figured Trump’s tax return as Big October Surprise would have a short life span.
And in 2014, so did the New York Slimes.
It’s not a scheme or a loophole...I hate idiots
and so did we, once.
And, it's targeted at people that have never invested in an equity or bond, and sustained a capital loss. After the 2007-2009 meltdown, I had carry-forward losses -- but I'm a minority among the millions of people with a negative net-worth.
699,540
Somebody said “we need to knock $700,000 of our income.”
And as anyone who has ever put in an expense report knows, you never want your entries to be round numbers.
Didn’t they at one time take a deduction for the donation of Bills underware?
underware=underwear
I think I remember Gore calling W’s tax plan a scheme.
Clinton Campaign Admits Hillary Used Same Tax Avoidance “Scheme” As Trump
So now the bed-wetting pink panty liberal pukes have to go around still sniffing the toilet seats of society looking for more specious lies and distortions to spread hoping that the American voters are stupid enough to swallow their BS.
It is hardly a scheme to allow loss carryforwards. It is a practical acknowledgement that you cannot get blood from a stone. If congress could disallow loss carryforwards they would. Those losses are real cash losses. There is no cash to tax until the person recoups those losses. Simple math dictates that congress has no choice but to allow carryforward losses.
Some states do not allow loss carryforwards but unlike the federal tax, the state tax is a small percentage of income.
She doesn’t pay taxes on laundered money why does she whine about him.
The ignorance in this country is astounding.
Oh well never mind.
The NY Slimes will be posting this any minute now.
lol
I know.
that would be like calling the home mortgage deduction a scheme!
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.