Maybe Trump Did Cheat

a reply to: Phage

Keep in mind this was like nearly 20 years ago when the market went soured.

a reply to: SecretLife

The irony of your post is obvious to all but you...

All rich people cheat on their taxes, it's a known fact. So there is no "maybe", he definitely did.

a reply to: Phage
Trump does not want us to see how much he owes to China and Russia. He is running for President so he can sell his Top Secret Presidential briefings in exchange for not having to pay. (We know he makes deals to get out of paying his debts.) He doesn't want to win because he doesn't want to get busted for treason. Ever since Trump sold the first secret, Trump is locked into being a traitor and he can't get out of it. He thought he would be able to end it once his debt is paid, but he forgot that with the threat of treason being revealed, he has to continue to provide the briefings. If this was not true, Russia would have no reason to continue to favor Trump. According to most people, Clinton is ineffective at getting Russia to do what the US wants. So, clearly, if Trump is the stronger leader, Russia would not favor him. Therefore, Putin must own Trump and already trust him based on their ongoing cooperation. The fact that no one has caught on to Don's big con is outstanding. It is so obvious that people literally can not see it. That is the beauty of their arrangement. Putin is very excited at the possibility of owning a President, First Lady, and family, even cabinet members. Trump has several close ties to Russia in his campaign. There is no mistake that all these people are converging at this election now. Putin is getting older. He has had this plan in the works his whole life and it is time for it to come together. At the very least, Trump is passing on his secret Presidential briefings. It's obvious if people were not so focused on Clinton conspiracies. There is no reason why Trump should have so much support from Russia if Trump is in fact the stronger leader who is more dangerous to ISIS and China and Russia.

and how does that make him different from millions ofo thers?

originally posted by: greg302
All rich people cheat on their taxes, it's a known fact. So there is no "maybe", he definitely did.

You have to be rich to take advantage of every legal "loophole" offered?

a reply to: Annee

"loophole offered" is figuratively the best way to put it.

But even taking something like the mortgage tax cut, that's available to everyone, having more money is beneficial because you can have several simultaneous mortgages to reduce your entire tax. Many 'rich' people do this, and this was what Trump was doing before he found the financial fortune of bankrupting his company and never paying taxes again.

a reply to: imjack

that's available to everyone, having more money is beneficial because you can have several simultaneous mortgages to reduce your entire tax.

Not precisely.

If your home is a second home, you can deduct the interest from only one second home. You must use that property at least 14 days during the year.

www.investopedia.com...

originally posted by: Phage
a reply to: imjack

that's available to everyone, having more money is beneficial because you can have several simultaneous mortgages to reduce your entire tax.

Not precisely.

If your home is a second home, you can deduct the interest from only one second home. You must use that property at least 14 days during the year.

www.investopedia.com...

Yeah that's on a home. That doesn't apply to skyscraper Hotel's and Casino's. The interest on the loans remain tax deductible, similar to a mortgage.

a reply to: imjack
Right.
Interest on other mortgages is not deductible.

originally posted by: Phage
a reply to: imjack
Right.
Interest on other loans is not deductible.

Oh, he should have bought Gold on loan instead right?

Flipping property and real estate in general is a good business for avoiding tax. It has multiple mechanisms

www.nytimes.com...

a reply to: imjack

Look, you said this:

But even taking something like the mortgage tax cut, that's available to everyone, having more money is beneficial because you can have several simultaneous mortgages to reduce your entire tax.

You were wrong. Right?
You can deduct, at most, the interest from 2 mortgages. Right?

originally posted by: Phage
a reply to: imjack

Look, you said this:

But even taking something like the mortgage tax cut, that's available to everyone, having more money is beneficial because you can have several simultaneous mortgages to reduce your entire tax.

You were wrong. Right?
You can deduct, at most, the interest from 2 mortgages. Right?

My point is he's able to claim multiple homes as a 'business' and still get deductions. I know I suck at English. If you read, what I read

When Mr. Trump purchases an expensive piece of real estate — say, a New Jersey casino, a Las Vegas hotel or a historic skyscraper in the financial district of Manhattan — he often uses little of his own money, and the interest he pays on the loans is tax deductible.
Through the mid-1990s, Mr. Trump often borrowed heavily from banks and other investors. In the case of the Trump Taj Mahal casino in Atlantic City, his company issued $675 million in high-interest junk bonds to acquire the property and finish construction.

It gives that impression, but even worse using words like "not his own money". If he gets business deductions that we are unfamiliar with on-top of this I wouldn't be surprised.

In short, he's not a genius of Tax code, he's a genius of Loan Approval.

Trump simply did what he should have done. Pay as little tax as legally possible. If you don't like it vote for Trump. As he plans to simplify the tax code and eliminate the bureaucracy. Then the average person that has no access to a tax attorney will be on equal footing.

But nooooooooo. You'll be tricked into the same old status quo again as always.

Well it's official. Trump has not paid Taxes.

a reply to: Doctor Smith

As he plans to simplify the tax code and eliminate the bureaucracy.

He plans to give himself a tax cut of 10.2%.
Me, a tax cut of 0.2%.

Please sir, can I have some more? More than $150, while you get millions?

originally posted by: imjack
Well it's official. Trump has not paid Taxes.

Exactly. Because of political hacks like Hillary Clinton who has been in charge for years and has done nothing to change the laws. So her filthy rich owners can continue to screw the middle class. While she and Bill get filthy rich.

a reply to: Doctor Smith

Hillary has not been in charge for years. Look at her voting record as Senator if you want to see what she supports. Those types of accusations are a disservice to voters who deserve information rather than baseless claims. Hillary Clinton has never been the President. We have a system of checks and balances. One senator can only represent her constituency, she could not solve all our country's problems.
It's a shame to mislead voters.

a reply to: Phage

To the OP, you could not be more wrong. Cheating is the IRS taking people's money without their permission. Taking money without permission of the owner was in the past something called "stealing" but apparently its not stealing when the IRS does it to you LOL but rather "taxes".

Its the patriotic duty of every American to see to it the IRS gets nothing, because they deserve nothing. If you allow someone the power to take people's property without their permission you are creating two classes... a ruling class and a surf class. You can wallow in the filth as a surf if you want. Meanwhile, I'll see to it the IRS gets none of my money when its all accounted for and I'll remain a free person.

Cheating on your taxes should mean paying it to an organization guilty of millions of wrongs like the IRS? This idea I can "cheat on my taxes by failing to enrich the IRS" is quite a joke.

By the way, they are not your taxes, they are THEIR taxes. They send you the extortion letter and you pay them or go to jail. So its not your taxes. Its theirs.

And finally, releasing tax returns is for people who don't care about their right to remain silent. Tax returns have never been used in someone's favor but only against them. So, releasing the returns is foolish. Cheating is extortion, taxation is extortion,... our world has been turned upside down and we are fools: peace by war, freedom by slavery.

Dear Phage, have you ever run a business?

In my experience, all capital investments, and capitol losses are tax deductible.

Me personally, I know that forever I'd be running at marginal tax deductible investment level. And I'd account for all major losses. Until my dying breathe I'd probably be perpetually set against inflation + taxes, forever on an upward trend. But that's just me.