Donald Trump Acknowledges Not Paying Federal Income Taxes for Years

Its called depreciation. You spend $150,000 on the kitchen equipment at a resort. You depreciate that over several years.

I do it with music equipment I purchase, would be a fool not too.

So what credits, deductions are you allowed to take but you don't because it would lower your tax bill?

 

The child tax credit for low income earners is the difference between being paid and paying. It means everything.

 

So you want to disallow about 30% of peopledeom voting?

 

He's been audited for years, how many times has the IRS found he violated tax law and cheated?

 

Small business owners have the same loss carry-over and depreciation allowances as Trump. There is no Trump exemption or deduction or credit.

And Romney paid 14% that year due to a VERY large charitable contribution and the left whined he was avoiding taxes and dodging taxes and now the left is salivating to get Trumps filing because they believe he does NOT make charitable contributions.

Care to reconcile that?

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So in order to keep your integrity in check you do not take your allowable tax deductions?

 

You can depreciate without a loss.

 

No.
Just billionaire non tax payers from running for office.

 

Anderson Cooper last night tried to get Trump to perjure himself.
By admitting he doesn't or hadn't paid taxes or his fair share.
But Trump was having none of it.He didn't fall into the trap.
But even had Trump admitted to not paying taxes every year
it couldn't be used as Perjury.One cannot commit Perjury in a
public debate setting.In order for Perjury to take place the
information provided must be Material and wilfully stated as true
knowing full well it was false.That is why Bill Clinton commit perjury
when he looked into a camera and said " again ... I did not have sexual
relations with that woman. "

 

Based on the news it seems that Trump is the only billionaire who has been audited on a consistent basis.

 

Trump loses almost $1 billion in a single year and is rewarded for it. Everybody gets a medal in Republicanland.

 

Trump called out Warren Buffet.. who does pay his taxes.. and he gave Trump a black-eye.

 

Trump has a family. Why should he give money to charities that will skim off most of it to pay the people running them? If he wants to give money away he should help pay the $trillions being spent on planes, ships, and nukes for the military.

 

You did read my post before responding to me, didn't you?

I know it was done by his accountants and not by trump. Ya think that means he may have once again been fibbing when he said "no candidate has ever understood the tax code better than me, and its complex" last night?

 

Some people lost a $billion in a day.

 

I have it done as well for product inventory that I suffered substantial losses on. Trump is a lot of things, but I won't look down upon someone using the tax code to their advantage. Why should we? Do we honestly believe if the middle class could find more ways to take losses or deductions on their taxes they wouldn't do it like the wealthier side does?

 

Not so.Under Obama { in his creation of an elite Aristocracy of Bureaucrats }
there have been more Millionaires created than ever in History.
Both Obama and Hillary are very cozy with Wall*Street and Bankers.
Their meme to go after the Top 1% was a cooked fraud.
WikiLeaks didn't release what Hillary said in speeches to Charities.
But those like Goldman Sachs et.al.

 

And there are those like Hillary friend George Soros who stole like
Billions in manipulating markets.Hillary learned from the best globalist
crooks in history.

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Warren Buffet is a world-class hypocrite.He shields his profits and
salary.

 

Fair enough, he simply followed tax law. Then he must be a really poor businessman who lost a billion dollars in an up economy. Kind of shatters the entire premise his campaign was founded on.

 

Why, yes, I did. Sorry.

 

depreciation IS a loss. Your House depreciates.It's worth less.
You car depreciates ... it is worth less.
Depreciation is the Reduction in the value of an asset.

 

First, Trump's big tax deduction was net operating loss, not depreciation, but he also claimed depreciation, sometimes on real estate that was also appreciating.

Second, name me just one tax that a small business, middle class tax payer can use that will give them nearly 20 years of no federal income tax and then we'll talk reconciliation.

 

Trump follows the law, libs lose their minds.

 

I don't think that anyone should get some kind of tax break for that, personally. In fact, it seems to me like a way to excuse levying a higher tax in the first place. Taxes are too high & too numerous overall. They're making the middle class poor and the poor poorer.

 

Trump did not pay Federal tax for 18 years and that is the bottom line. Why are you denying what he admitted to? The thread title is...Donald Trump Acknowledges Not Paying Federal Income Taxes for Years so why are you changing the subject to include state and local tax? I've already gave my take on his hypocrisy on this issue on several threads and it is becoming tedious to do so again.

http://www.politicalforum.com/showthread.php?t=478865&p=1066712488#post1066712488

 

Where did you come up with that . Your simply guessing