Posted on 05/20/2016 6:04:49 PM PDT by usafa92
Donald Trump paid no federal income taxes for at least two years in the late 1970s, according to a New Jersey government report.
Trump, who has declined to release his tax returns during the campaign season, incurred no tax liability in 1978 and 1979, New Jersey gambling regulators found, when they looked into his tax returns and personal finances in connection with the Trump Plaza Corporation's 1981 application for a casino license.
Trump claimed negative income in both those years: losses of $406,379 in 1978 and $3,443,560 in 1979. In 1975, 1976, and 1977, he claimed $76,210, $24,594, and $118,530 in income, respectively, paying $18,714, $10,832, and $42,386 in federal taxes, according to the document, the Report to the Casino Control Commission.
The regulators "did not ascertain any inconsistent or questionable matters" in Trump's returns, they wrote.
The findings were included in a report obtained by ABC News and verified by the New Jersey Casino Control Commission. Although the regulators viewed Trump's tax returns from 1975 to 1979, they did not include the actual returns in their report to the commission.
(Excerpt) Read more at abcnews.go.com ...
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Ping.
So ABC News goes back to 1978 and 1979 to report that Trump did nothing wrong on his taxes...1978 was also the year that Bill Clinton allegedly raped Juanita Broaddrick....just sayin'
You got that right. I found an old return from 1978. I made $27k and my total state and federal tax was $14k
Why would he pay taxes he didn’t owe?
Wow, really dragging the bottom for anything they can find. Desperate.
Yep, love it, not a thing wrong with the Bee Gees!
He is so heavily invested I would have no respect for him if he paid any income taxes!!
Good for Trump. We need people in office aware of the terrible burden the government tries to impose on its citizenry, and was able to avoid at least some of them.
I owned my own business for 15 years. If I ended up paying Federal taxes I was screwing something up. All legal. Got audited. No problems.
but in 75,76 and 77 he paid $18,714, $10,832, and $42,386 in federal taxes, or on $224K, $70K in taxes. sounds above-board to me
I dindu nuffin!
You oughta get ole sparky for your heinous crimes.
Boo Hoo....
I know. It’s not so much living in the fast lane, but more like the oncoming lane.
I agree. Trump finds legal ways to give less money to the feds. That's heroic and inspiratonal.
My husband and I have owned, bought and sold real estate for over 40 years. For the last 10 years we have not paid one cent of federal income taxes and the reason is that we suffered a financial loss on one of our properties when the person for whom we were holding a mortgage went bankrupt.
People in business often have financial situations that are negative income and there are “write offs” on the books for just those instances.
This story is a dastardly plot by Jim Robinson (defender against all evil) and you freepers to get me to vote for Donald Trump! I admire people who stand up to the IRS — even Donald Trump.
If he had negative income then I don’t see what the issue is.
Her $1000 "investment" magically grew to $100,000 in ten months, in the hands of an extremely shady broker, whose company subsequently received the largest penalty ever imposed by the Mercantile Exchange.
The Wikipedia account of Cattlegate is, for the moment, surprisingly accurate:
https://en.wikipedia.org/wiki/Hillary_Rodham_cattle_futures_controversy
From the link:
In a Fall 1994 paper for the Journal of Economics and Finance, economists from the University of North Florida and Auburn University investigated the odds of gaining a hundred-fold return in the cattle futures market during the period in question. Using a model that was stated to give the hypothetical investor the benefit of the doubt, they concluded that the odds of such a return happening were at best 1 in 31 trillion.[14]
This is so lame it doesn’t even merit the obligatory “Trump is DOOMED” meme.
Same formula used for Romney...taxes...war on women....hater....
Whatever, it aint working!
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