Trump's Income Tax

As a middle class tax payer, I don't understand why the rich are allowed to have loopholes and deductions that let someone, like Trump, pay no federal income tax. Tax laws that apply to me should apply to Trump and every other millionaire or billionaire. If Trump has loopholes or deductions, then I should be able to use those same loopholes and deductions, without having to hire a tax attorney to do so. If I can't use them, he can't use them. All those loopholes and deductions were made at a time when the rich were taxed at 90%. When the tax rates were reduced, the deductions and loopholes remained… to the point that if you are rich enough to hire tax code experts, you can pay little to no taxes. They were taxed at a higher rate because their businesses use more of the infrastructure and resources, paid for by taxes, than the average citizen. They still use the infrastructure and resources at a higher rate, but now may pay nothing in taxes to support them.

This is not a non-story. When Trump is running on a platform that suggests changes to the tax code, what he pays in taxes matters. Why suggest cutting taxes on the richest, when Romney and Trump's past tax returns have shown, they, who have gotten the lion's share of the country's wealth, pay less tax percentage-wise than the middle class, who live with stagnant wages?

Why is the burden of paying for defense and homeland security, infrastructure, health care, disaster relief, and every other governmental service solely on the middle class, instead of a shared burden? Because the middle class can't get access to politicians that make the tax laws. The richest can get access though. That's why people like Trump can pay no federal tax.

There's more to this tax return issue too. Trump does business internationally… and according to the latest news, with some countries that he wasn't legally able to do business with. There shouldn't be any conflict of interest between a President's business interests and the country he leads. If he is doing business with China and Russia or Cuba, the American people deserve to know that before the election. That would be shown in his tax returns.

 

That's the thing ain't it. Large corporations get billions in tax breaks and place the tax burden on others.

 

Yeah, imagine the real estate taxes he pays to New York. Heck, I pay my county $1,200 a year in real estate taxes for an 1,800 square foot home out in the woods.

 

Simply false. We had a surplus budget until the the Bush tax cuts.

Deficits are not just a function of spending but also of tax revenues. The ignorance of conservatives on basic budget matters is astounding, but not surprising.

Thanks for sharing your position. 1% apologists often hold such a view.

I'm generally OK with it because a big chunk of that number are folks who pay other taxes like FICA.

But I'm certainly not OK with billionaires dodging taxes like Donald.

 

Hasn't the Lois Lerner scandal taught you that the IRS is in cahoots with the DNC. Do you honestly think that the Clinton campaign hasn't seen Trump's tax returns?

 

Wrong again, we had a one year surplus budget until the dot com bubble burst. Basically it was on paper and never really existed.

 

One could argue why do corporations pay tax at all? What is the purpose of a corporation? To profit or to pay for everyone's food stamps? Why are business owners double taxed?

 

Lol...You polish with the best of them, but Trump could release his tax returns and prove her wrong.
You know exactly why he is terrified of people seeing his tax returns.
He might even start losing support from his deplorables.

 

Two faced Democrats with two sets of rules, one set for them one set for everyone else.

 

actual if trump wanted money the thing to do would be too shut up and endorse the next JEB! or clinton. He clearly thinks that he can do well enough as president to be remembered in history for it. (his main motivation is ego)

 

The last time the cons came up with an idea about economics it was voodoo economics.

 

He's not cheating, he is under near continual audit. Hillary is in panic mode. Nobody cares about Trump's taxes except for Hillary supporters.

 

And in Hillarys 30 years, none of the Democrats or herself fought against this nor tried to change it lol.

Repuuuuublicans!!!

 

And while Donald has conned his followers into believing he is "anti-establishment", his programs of massive tax cuts for billionaires, massive military spending increases, and cutting regulations that protect our economy is just regurgitation of the same thing the last Republican president promoted.

 

I'm not even convinced that he is under audit. There's a letter he could release to prove it, but he hasn't done that yet either.

Since his son, his lawyers, his surrogates, and even Trump himself have given different excuses as to why he can't release them, I don't believe any of them. In the debate he said he'd release them against his lawyers' recommendations, so that says there's really nothing keeping him from releasing them, except his choice.

It's fairly obvious to me that he has considered the impact of releasing the taxes versus the amount of votes he will lose if he doesn't and has decided that not releasing them is less damaging than releasing them. That thought, in and of itself, says that the tax returns must have something really bad in them. What's really concerning to me is if after he is elected, we find out that he is financially compromised to Russian oligarchs and compromises the rest of us because he is the President.

 

More regurgitation of RW propaganda lies. lol

Clinton voted against the Bush tax cuts because they would return the government to higher deficits. She voted in favor of raising taxes on m/billionares (which is part of her proposal now) and voted against repealing the AMT and against repealing the estate tax. Among other things.

http://www.taxjusticeblog.org/archive/2015/04/what_we_know_about_hillary_cli.php#.V-6p6CSLWFA
http://www.ontheissues.org/celeb/Hillary_Clinton_Tax_Reform.htm

 

You forgot to mention Trump has sworn to close our southern border and stop the chaos. Name another candidate or president who has done this.

 

Donald's the one in full panic mode.

He completely failed the "presidential" test so he and his campaign are doing the only thing he's good at -- going low, and going mean.

 

What chaos?

Immigration from Mexico is waaay down over the last few years.

 

Regardless of the spin youd like to put on it, the Tax laws are what they are and republicans have not been the sole people in power. Just LW spin, as usual.

 

And that proves your claim that over 30 years, Clinton never "fought against this nor tried to change" tax loopholes for the richest how?

 

This phrase keeps being thrown around. What does that even mean? Does it mean someone who does not care about established laws and rights but believes in an anarchic society and getting away with what you can? Hardly an endorsement.

 

Democrats rammed through Obamacare....but the tax laws are still the same.

Repuuuuuublicans lol.


Noones buying it man, noone.

 

Do you actually realise that when you donate money, you are still giving money away out of your personal funds so why have you put the word donates in inverted commas. Do you have proof that the charity was used to payout personal expenses, costs of which were not included in her income from the charity (income which is taxed)?

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This is the important part which many are ignoring

 

Bull(*)(*)(*)(*). It is a well known fact that Democrats used the IRS to attack political opponents.

He said he wouldn't publicly release them for good reasons.

And his tax returns are none of your business anyways.

Have you released your tax returns? Why don't you post them here?