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Trump Tax Records Obtained by The Times Reveal

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+3 more 
posted on Oct, 1 2016 @ 11:28 PM
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He Could Have Avoided Paying Taxes for Nearly Two Decades

Donald J. Trump declared a $916 million loss on his 1995 income tax returns, a tax deduction so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years, records obtained by The New York Times show.

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.

Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said that tax rules especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an equivalent amount of taxable income over an 18-year period.

NYTimes

Donald Trump lost $916 million in 1995, this is according to a copy of his return received by the Times in a package, with a Trump Tower return address. This loss would allow him to not pay taxes on $50 million a year for 18 years.



+28 more 
posted on Oct, 1 2016 @ 11:32 PM
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Was there a law broken?



posted on Oct, 1 2016 @ 11:33 PM
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a reply to: projectvxn

No



Mr. Trump declined to comment on the documents. Instead, the campaign released a statement that neither challenged nor confirmed the $916 million loss.

“Mr. Trump is a highly-skilled businessman who has a fiduciary responsibility to his business, his family and his employees to pay no more tax than legally required,” the statement said. “That being said, Mr. Trump has paid hundreds of millions of dollars in property taxes, sales and excise taxes, real estate taxes, city taxes, state taxes, employee taxes and federal taxes.”

The statement continued, “Mr. Trump knows the tax code far better than anyone who has ever run for President and he is the only one that knows how to fix it.”

nytimes



posted on Oct, 1 2016 @ 11:33 PM
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a reply to: projectvxn

Even if there was, I'm 99% sure that he didn't intend to.



posted on Oct, 1 2016 @ 11:36 PM
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a reply to: WilburnRoach

That's the way to work the USA tax code! I have done the same thing for most years since my friend H&R Block arrived in 1995. Naturally, my numbers are a lot smaller...but the principle and benefits applies to all who are self-employed.

This is one reason why most business owners, from Avon Ladies up to big-time Trump types, do not want a "flat tax". I used to cringe when Ted Cruz said he'd get rid of the current tax system. I'm thankful that idea is off the table! Hillary won't bring it up either, because the IRS empowers her Clinton Foundation to be a virtual golden-egg laying goose.


+30 more 
posted on Oct, 1 2016 @ 11:38 PM
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Ya socialize those loses baby!

But we are worried about the folks that are on food stamps.


+4 more 
posted on Oct, 1 2016 @ 11:39 PM
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a reply to: WilburnRoach

I only bring it up because somehow, to many people, if you're not paying what THEY think is a "fair share" then it is somehow criminal.

If I could use the tax code to make money every year I would. But I don't have that kind of time.


+33 more 
posted on Oct, 1 2016 @ 11:40 PM
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originally posted by: projectvxn
Was there a law broken?


No law was broken it seems

But the fake facade of him being a great businessman that will bring back jobs is slowing crumbling.

Funny, since it was his main selling point.
edit on 1-10-2016 by muse7 because: (no reason given)


+38 more 
posted on Oct, 1 2016 @ 11:41 PM
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originally posted by: projectvxn
a reply to: WilburnRoach

I only bring it up because somehow, to many people, if you're not paying what THEY think is a "fair share" then it is somehow criminal.

If I could use the tax code to make money every year I would. But I don't have that kind of time.


People hate paying taxes.

What people hate even more is rich assholes not paying taxes.


+14 more 
posted on Oct, 1 2016 @ 11:41 PM
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originally posted by: carewemust
a reply to: WilburnRoach

That's the way to work the USA tax code! I have done the same thing for most years since my friend H&R Block arrived in 1995. Naturally, my numbers are a lot smaller...but the principle and benefits applies to all who are self-employed.

This is one reason why most business owners, from Avon Ladies up to big-time Trump types, do not want a "flat tax". I used to cringe when Ted Cruz said he'd get rid of the current tax system. I'm thankful that idea is off the table! Hillary won't bring it up either, because the IRS empowers her Clinton Foundation to be a virtual golden-egg laying goose.



So you think Trump gamed the system and losing $916 million was intentional?

Or is a A moron and lost $916 million and the corrupt system that caters to the elite has kept him wealthy? The same system he claims to want to change?
edit on 1-10-2016 by WilburnRoach because: (no reason given)



posted on Oct, 1 2016 @ 11:46 PM
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Trump Tax Records Obtained by The Times

Wait. What ? Did Trump disclose them ? Tax records are not a matter of public record....
That usually take a court subpoena to obtain.

Damn , never mind
Everyone read this

"The new regulation has its genesis in last year's big tax preparer complaint -- that many returns were shipped overseas to places like India for preparation, without consumers' realizing how far their personal information had traveled. So Rep. Ed Markey, D-Mass., generally a friend of privacy protection, asked the IRS to spell out new rules governing tax preparation outsourcing. "

How private are your tax records? Surprise!


edit on 10/1/16 by Gothmog because: (no reason given)


+17 more 
posted on Oct, 1 2016 @ 11:47 PM
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originally posted by: Gothmog



Trump Tax Records Obtained by The Times

Wait. What ? Did Trump disclose them ? Tax records are not a matter of public record....
That usually take a court subpoena to obtain.


Didn't Trump say that Russia should continue hacking the DNC?

Looks like the boy who cried wolf



posted on Oct, 1 2016 @ 11:49 PM
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1995?

Who was in office at that time?

That's right! Clinton!

Surely Clinton woukd have used his power and influence to put an end to this tax law if it were so terrible, right?

Funny...I never heard about Hillary or Obama speaking out against this tax law (that Trump lawfully and prudently used) either.

I guess this means Trump will be a fiscally responsible president and not voluntarily add more to the federal debt by paying more for goods, services and tariffs than is lawfully required.



posted on Oct, 1 2016 @ 11:51 PM
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originally posted by: WilburnRoach

originally posted by: carewemust
a reply to: WilburnRoach

That's the way to work the USA tax code! I have done the same thing for most years since my friend H&R Block arrived in 1995. Naturally, my numbers are a lot smaller...but the principle and benefits applies to all who are self-employed.

This is one reason why most business owners, from Avon Ladies up to big-time Trump types, do not want a "flat tax". I used to cringe when Ted Cruz said he'd get rid of the current tax system. I'm thankful that idea is off the table! Hillary won't bring it up either, because the IRS empowers her Clinton Foundation to be a virtual golden-egg laying goose.



So you think Trump gamed the system and losing $916 million was intentional?

Or is a A moron and lost $916 million and the corrupt system that caters to the elite has kept him wealthy? The same system he claims to want to change?


I don't know if Trumps accountants were intentionally utilizing all the provisions of the tax code to generate an on-paper loss. One would hope so. That's one of the things that they are paid good money to do. I help people make similar decisions every day, in order to get the maximum amount of money out of the Obamacare system. It's set up with flexible play rules too.

Most (perhaps 90%) of Americans forget, or have never bothered to figure out, that the same people we elect to high offices, are the people who write all the rules. They set up the board game. The people who are too busy complaining, instead of learning how to play, are missing out on quite a bit.
edit on 10/1/2016 by carewemust because: American Ignorance and laziness is what keeps So Many Americans Down



posted on Oct, 1 2016 @ 11:53 PM
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originally posted by: muse7

originally posted by: projectvxn
Was there a law broken?


No law was broken it seems

But the fake facade of him being a great businessman that will bring back jobs is slowing crumbling.

Funny, since it was his main selling point.


How is that? The guy lost nearly a billion dollars 21 years ago and is worth as much or more today. What is the problem? Big money swings happen all the time in richland.

In fact, it shows he has the fortitude to bring himself and maybe even the country back from the brink.
edit on 1-10-2016 by Tempter because: (no reason given)


+3 more 
posted on Oct, 1 2016 @ 11:54 PM
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I think Its true Trump hasn't paid taxes since the 70's



posted on Oct, 1 2016 @ 11:55 PM
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originally posted by: muse7

originally posted by: Gothmog



Trump Tax Records Obtained by The Times

Wait. What ? Did Trump disclose them ? Tax records are not a matter of public record....
That usually take a court subpoena to obtain.


Didn't Trump say that Russia should continue hacking the DNC?

Looks like the boy who cried wolf


Actually , read my edit.....doesnt matter. Tax returns are being outsourced to India for preparation. So , a group of foreign nationals , who probably know nothing about the job they are doing or security , has all my personal information

We are doomed.


+17 more 
posted on Oct, 1 2016 @ 11:55 PM
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originally posted by: Tempter

originally posted by: muse7

originally posted by: projectvxn
Was there a law broken?


No law was broken it seems

But the fake facade of him being a great businessman that will bring back jobs is slowing crumbling.

Funny, since it was his main selling point.


How is that? The guy lost nearly a billion dollars 21 years ago and is worth as much or more today. What is the problem? Big money swings happen all the time in richland.

In fact, it shows he has the fortitude to bring himself and maybe even the country back from the brink.


He might still be bleeding money

The truth is we don't know how much he's worth.

What do you think is the reason he refuses to release his taxes?


+3 more 
posted on Oct, 1 2016 @ 11:56 PM
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Wait, so you guys are arguing that he's not a good businessman because he used the law to further his business?



posted on Oct, 1 2016 @ 11:58 PM
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a reply to: muse7

Because he is currently under audit by the IRS.

Why doesn't Obama order the IRS to wrap up their audit already?
edit on 1-10-2016 by Deny Arrogance because: (no reason given)



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