Posted on 10/05/2016 4:49:05 PM PDT by Rustybucket
Then we find out that The Times also used a similar scheme to avoid paying federal taxes too. Which kind of makes them hypocrites, right?
Now we discover that none other than Hillary Clinton herself also used a federal tax break in 2015 to claim a loss and avoid paying taxes.
(Excerpt) Read more at thefederalistpapers.org ...
She and her party are nothing but SCUM!
this being a very standard provision of the tax code, there’s nothing “wrong” with anyone... HilLIARy, Trump, or the NYTimes, using it where appropriate to their situations.
(PS: Im all for replacing the entire mess of the income tax with something easy and simple and a whole lot less expensive and corrosive to society and our economy.. but anyway...as long as we have the law the way it is, everyone has a duty to try to comply with it as best they can)
What is wrong is the Clinton/Kaine/NYT proposing Trump is terrible and not supporting the troops or America for the same thing they did. Not a legal versus illegal issue. Just like always Clinton BS lies.
To give but one example, before Bill Clinton ran for president, he sold his interest in Whitewater back to the MacDougals for a dollar. But, because their partnership was severely in debt at the time, this 'sale' amounted to a forgiveness of debt, which any stalwart accountant would tell you, is a taxable event. When their shady deals became common knowledge, they, oh yeah, ponied up the money. This has continued to this very day.
Trump should speak of the generous donations made by the Clintons on their taxes. Like Bill’s crusty old drawers for $2.
Using this tax strategy is not avoiding taxes. Its not a loop hole. Its merely how the annual tax system handles multi year projects. Losses and gains are not often contained within a single year. So when you have losses in one year you can deduct them from profits in future years. This has been around as long as the income taxes have been around. Otherwise nobody would invest during recessions. And nobody would do large multi year projects. Most companies have to do this at one time or another.
hard to believe people don’t understand that point.
Most people in this country believe that the $200 refund they get each year is actually a gift from the government. Ask them how much taxes they paid and they’ll say “I didn’t pay anything. I got a refund.”
Of course, I was being sarcastic.
Sarcastic, not ironic.
Of course your correct. My point exactly. If they can’t find anything legitimate, they will fabricate a distraction, one so bad, they have done the same thing themselves. But that is one distraction too far. This needs to go mainstream.
understood.
i just wanted to remind everyone that Clinton deducted Billy-goat’s used underwear
so she has nothing to harp about, sort of like the old saying about motes in one’s own eye
Can you provide reliable links to prove this, if so, I would love to see them and pass them around the internet.
Most assuredly, your on point. Thank You.
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