Posted on 10/06/2016 6:31:30 AM PDT by Kaslin
Let's describe the relationship of the media and their Democratic cohorts to taxes and those who "don't pay them" as, well, complicated.
In 2012, ABC News' Jonathan Karl claimed on television that an auto mechanic making $75,000 a year paid a higher federal income tax rate than that paid by then-Republican presidential nominee Mitt Romney. But, as I later told Karl in a radio interview, that would only be true if Mr. Auto Mechanic had no children, owned no home and therefore did not take the same deductions as those taken by Romney. In an apples-to-apples comparison, I informed him, Romney, at a 14 percent rate, pays twice the rate paid by Mr. Mechanic.
Karl said he would look into that, and get back to me. He must've used Hillary Clinton's email server, because I never heard back.
Democrat's 2004 presidential nominee, John Kerry, through marriage, is also a wealthy man. A few years ago, he bought a 76-foot yacht, but docked it in nearby Rhode Island, rather than Massachusetts where he lived and presumably used the yacht. It turns out by doing so he could avoid $500,000 in sales and excise taxes. Embarrassed by a media expose, he later paid up.
In 2001, Kerry's state of Massachusetts lowered its income tax rate. If, however, the guilty Bay State liberals wanted to pay the higher rate -- so as not to deprive schools, hospitals and all -- they could check a box and do so. Out of over 3 million tax filers, only a fraction of 1 percent (930 taxpayers) voluntarily agreed to pay the old, higher rate. Not among that fraction of 1 percent was then-Rep. Barney Frank, D-Mass., who once said, "There are a lot of very rich people out there whom we can tax." When asked about the apparent contradiction, Frank said, "I don't trust the (Republican-led state) government to spend the money properly."
The late Sen. Ted Kennedy, D-Mass., cast many votes opposing decreases in the estate tax. But his father, Joe Kennedy, placed his family's fortune in trusts to avoid paying the very estate tax that his son later advocated during his Senate career. The late Democratic tax-the-rich Ohio Sen. Howard Metzenbaum relocated to Florida upon retirement, a move reportedly made so that upon death he would avoid state estate taxes. Based on where he was when he died, mission accomplished.
Then there are the tax-the-rich hosts at cable news channels, with the list led by MSNBC's Rev. Al Sharpton, whose endorsement was vigorously pursued by Hillary Clinton, even though she criticizes Donald Trump for having "paid nothing in federal taxes." Sharpton, according to The New York Times in 2014, owes "more than $4.5 million in current state and federal tax."
It was The New York Times that dropped the "bombshell" that for years Donald Trump "paid no federal income taxes." This would be the same New York Times that, in 2014 -- and who knows what other years -- paid zero federal income taxes.
Donald Trump is a rich businessman. Business people typically do not become rich by willingly pay more in taxes than they believe they owe. He took legal deductions, apparently using losses and his casino businesses to offset his income taxes. Perfectly legal, nothing to see here.
Trump does pay taxes -- a lot of them. He pays payroll taxes, property taxes, excise taxes, sales taxes, local taxes and whatever fees imposed by the various states in which he does business. And as for his claim that he's undergoing an audit and therefore does not want to release returns? The explanation is simple, if not clear to people who don't run a complicated business.
Trump and the IRS are very likely in disagreement over how much he owes and how the tax code should be interpreted to come up with the correct amount. Trump, who says he gets audited every year, probably has these disagreements every year. If he were to disclose his returns, and the public became aware of the amount the IRS says he owes versus the amount he thinks he does, the IRS will be publicly shamed into digging in its heels, refusing to negotiate lest they be perceived as caving in to a rich guy. In short, Trump would lose his leverage and very likely millions of dollars in taxes. What sane person does that?
Warren Buffett, who claimed he paid a lower tax rate then did his secretary, disputed what the IRS claimed one of his companies owed. Given that Buffett famously wants income taxes raised, why doesn't he simply accede to the IRS' request, pay the money voluntarily and increase the federal treasury? By the way, while we're at it, has anybody seen Buffett's returns and those of his secretary to confirm his assertion that he pays a lower tax rate than she does?
But then, neither Buffett, nor, we presume, his secretary, is a Republican. Different strokes for different folks.
Thanks. PFL
I don’t think anyone is asserting that Trump is violating the law here. And yet — it is a major “scandal”.
Hillary, on the other hand, has clearly violated the law in regards to national security, and she has lied to the FBI and lied to congress. And yet — this is not a scandal.
The difference between Federal Income Tax and Capital Gains taxes is ignored by the media because it ruins their narrative.
Apple keeping billions out of the USA to avoid tax
Warren Buffett fighting a big tax bill
Google pays as little as possible
NY Times gets a 3.5 million refund
Bill and Hillary, America’s political Bonnie and Clyde took a 700,000 business loss write off...
Hypocracy is another pillar of liberalism, right up there with perpetuating victim classes, double talk and class warfare.
The rules are ALWAYS different for Democrats.
The IRS pulled the same smear campaign on Reverend Jerry Falwell up in Lynchburg. They leaked slanderous claims that some in Lynchburg still believe.
Lois Lerner got away scot free from targeting the Tea Party. The IRS is ‘weaponized’, a facist weapon for totalitarian leaders. That should have been as big a deal as DNA vindicating the falsely convicted.
Anybody who believes this is unusual is an idiot. Or simply does not know anything about running a business. Taxes are taken annually. But business runs on a different time schedule. So to handle this you tell the government your profit or loss each year and you pay taxes with a profit or you get a credit with a loss.
The press is making this seem like some obscure loop-hole. Its not. Believe me every silicon valley company uses this to grow. Amazon, Uber, Apple all have used this. If companies are going to build great things they will have a loss for a year or two, then they will create profits. Great things take more than a year to build.
Felonia purposefully ignores and misrepresents business loss carryover that is designed to help businesses survive and stay afloat in bad years. In virtually every case, use of this law allows business to keep employees, continue investment (a dirty word), and to keep the economy rolling.
The felon’s accusations are a misleading and lying smear that is one of the many perverse pillars of liberalism and the Democrat party.
Those who complain about Trump do not understand real estate investments or the Federal Tax Code.
It is interesting that when the MSM pundits want to start talking about the Trump campaign, they will invariably introduce the topic with a casual “Trump trying to get his campaign back on track”. They want to have positioned in everyone’s mind that the default position of the Trump campaign is one of always struggling and playing catch-up. They NEVER introduce Hillary’s campaign like that.
-—”Trump does pay taxes — a lot of them. He pays payroll taxes, property taxes, excise taxes, sales taxes, local taxes and whatever fees imposed by the various states in which he does business. “
This is the best response Trump can use in a debate when accused of not helping shoulder the tax burden.
The IRS code epitomizes arbitrary law. With more pages and words than the Bible, and over 100 years of tinkering by various congresses and Treasury Secretaries, it has now become a monster which can be unleashed on anyone for any reason. Creating criminals and villians out of any dumb sap it wants to.
“”I don’t think anyone is asserting that Trump is violating the law here””
You certainly don’t believe that Hillary’s supporters and the MSM aren’t IMPLYING exactly that, I hope! They know the people supporting her aren’t giving a great deal of thought to anything except TRUMP DID SOMETHING TERRIBLE!!!
IMO, the people supporting her aren’t even CAPABLE of sorting out the truth about the tax code etc. The rest who are the moneyed people don’t get any closer to their own tax returns than signing them.
“”So to handle this you tell the government your profit or loss each year””
According to the know nothings reporting on TV, your tax returns also tell the government WHO you owe money to!!! They’re not even embarrassed at their lack of knowledge. Just open the mouth and let the words spill out without any validity.
“”Bill and Hillary, America’s political Bonnie and Clyde took a 700,000 business loss write off””
What year? On one or all of the foundations and funneled into their personal? I’ve looked at their returns until I’m blue in the face and I didn’t see that. If it’s there, why isn’t it being used against her? She brags about their returns being posted so why not take advantage of it to throw back in her face. DONALD? Do you hear me?
There are pages and pages of each of their individual incomes and expenses - speaking, consulting, books etc., on their personal return and I can’t say I ever followed them all the way through to the first page...My head aches just thinking of it.
Someone who has the resources needs to research as to how many democrats have paid no income taxes and for how many years. Just saying. They are no doubt hypocrites in this like everything else!
That is typical liberal logic.
Still the dirty little fact...45% of Americans are quite comfortable about paying no income tax, and even getting money FROM the gov at tax time.
http://www.marketwatch.com/story/45-of-americans-pay-no-federal-income-tax-2016-02-24
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