Posted on 10/02/2016 5:19:40 AM PDT by rktman
Well, it dropped. The first of possibly many October surprises this cycle. Wikileaks’ Julian Assange has already offered teasers about new information he’s obtained about Hillary Clinton that has yet to be released. For now, it’s brief glimpse into Donald Trump’s tax returns that The New York Times says could've legally allowed the billionaire to avoid paying taxes for almost two decades. It’s a 1995 return that the news publication obtained, which showed that Trump had lost almost a billion dollars. The Times contacted a lawyer and accountant to Trump, who said that the return was “legit,” while also detailing that the massive losses were probably associated with his casino interests that were bleeding cash in the 1990s. Again, there’s nothing illegal in these documents:
(Excerpt) Read more at townhall.com ...
Here’s what I wish Donald would hit back with on this subject over and over:
Doesn’t the gov’t spend approximately 10 billion a day?
Even if he gave up his ENTIRE fortune of 3.7 billion it wouldn’t fund the gov’t for half the day!!
So if he had paid the exact amount of taxes the liberals think he should have it does not matter.
The NYT keeps trying, but all they do is throw spit balls.
You must have forgotten about the “Rich Not Paying Their ‘Fair’ Share” clause in the progs handbook of horrible things to do.
To whom it may concern: Please point out what Trump did ILLEGALLY.
What we need to see is a list of all the taxes Mr. Trump paid that year!
Pathetic LOSER Krooked Klintons busy deducting their used underwear as charitable donations in the 1980’s
Who donates used underwear to charity?
Because he gave it to the NY Times himself. LOL.
1995 wasn’t “almost two decades ago.” It was 12 years ago. Wild swings in income aren’t uncommon in real estate.
During the 1990s, Trump’s properties in Atlantic City forced him to the wall. In Ch, 11 reorganizations, he surrendered his 50 percent ownership in Taj Mahal and two other properties. He also took a big hit on the Plaza hotel in New York City. In these reorganization, he sold off a number of properties and businesses, including his yacht and Trump airlines, and was put on a strict budget.
It took him some time to regain his stride. He himself talks about all this in his book The Art of the Comeback.
As for losing $900 million, there aren’t that many people who are in a position to lose $900 million, no less come back even stronger, amassing $10 billion in net worth.
I don’t know how much of the $10 billion represents unrealized capital gains, but, it is probable he has already reported more than $900 million in income since 1995, and so has already exhausted his loss-carryforwards.
So, Trump played the field the way it was striped. THIS is somehow illegal? Oh, wait...liberal ‘logic’. Right.
What should be a concern is who let out confidential information on a private citizen.
12 years ago would be 2004.
And, just who was it that was in charge of the IRS and its tax-code used by Trump in 1995?
ummm..FYI..1995 was 21 years ago.
Typo?
Hillary and Bill get paid exorbitant amounts for a speech. They ‘donate’ the money to their Foundation. Basically taking out of the right pocket and moving to the left pocket.
They take a tax deduction for the charitable ‘donation’ and get to crow about how much they ‘donate’ to charity.
And then get to spend the money on
anything they can get away with as a business expense. Reported to be about 80-90% of all ‘donations’.
And then have the balls, with the MSM as backup, to complain about Trump’s legal deductions.
Business losses are a function of the cost of doing business. A business loss occurs when expenses exceed income. This includes paying taxes, buying product, expanding operations, covering overhead (rent, mortgages, utilities, infrastructure like trucks and computers) and paying for contractual services - payroll.
After everyone receives a salary and all of the vendors are paid and all of the taxes on goods and services are paid, whatever is left is profit. Typically this is a minuscule number. That “profit” is then paid to the owners and is taxed as personal income. Or it is reserved for expansion and development, after paying nearly half in state and federal taxes.
Trump has a Net Operating Loss Carryforward. The horrors! How dare he!
2016-1995 was 19 when I went to school dawg!
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.