posted on May, 8 2019 @ 08:46 AM
I've long stated in this particular debate that Trump has nothing to gain by showing his tax returns and the NY Times is demonstrating why.
The Slimes article is written with a tone implying that his losses were nefarious. However, the times does not really distinguish between monetary
and non-monetary losses nor all the legit rules, shelters, and other arcane tax filing approaches that large businesses and extremely wealthy
The biggest issue is that you can generate a loss as a business, particularly in real estate, with depreciation. Depreciation is a paper loss, not a
monetary loss. Anyone who has owned investment properties (even a small single rental unit) is aware of how depreciation works to lower your tax
I have a lot of clients whose tax returns I see who own real estate investments. I'd venture 90% of them show losses through depreciation on tax
returns. In fact, when you apply for a mortgage and your income is analyzed, DEPRECIATION IS ADDED BACK TO THE INCOME because underwriters know it
isn't an actual loss.
Further, as any first year MBA student will also tell you.... EBITDA is what is typically analyzed when looking at businesses... Earnings BEFORE
interest, taxes, and DEPRECIATION.....
The only reason Democrats want to see Trumps tax returns is to use it as ammunition for class warfare. If you recall from the 2012 election, they
used the same playbook against Mitt Romney because most of his income was from carried interest and capital gains.
The typical voter making $50k/yr working 9 to 5 who gets their taxes done at HR & Block doesn't understand any of this stuff and it is easy to spin it
so that they think some rich guy is getting over on them even though that rich guy may be following the IRS rules to the letter.
edit on 8-5-2019 by Edumakated because: (no reason given)