Trump's 1995 taxes...what's the big deal?

So maybe I'm missing something but I don't understand why the media is gasping at Trump's 1995 taxes.

The loss he took is remarkably "Yuuuuge" but the coverage I've see hasn't really focused on the fact that he lost almost a billion dollars in one year but rather seems to insinuate that by taking that loss as a deduction against future profits he's done something wrong.

Any business worth their salt does the same - in fact it happens all the time.
It's such a common practice that the IRS has a guideline to stop businesses from doing it if they haven't cleared a profit for more than 3 out of the last five years.

It's the way the tax law is written so what's the big deal?

a reply to: coldkidc

It sort of means he is NOT a good businessman and this loss keeps him from paying taxes for many years.

He not only lost his own money, but that of investors and then he skates on taxes for decades.

"I absolutely hate this guy who makes more than me."

"It is not fair, make it fair please."

-every liberal ever

a reply to: reldra

He must be a damn good businessman to bounce from a 1b loss.

originally posted by: Mandroid7
"I absolutely hate this guy who makes more than me."

"It is not fair, make it fair please."

-every liberal ever

That is not the case. I usually don't have to 'pay', though I paid all year.

He makes at least millions and pays nothing. It is not just not fair, it is wrong. I PAID taxes for some of the years Trump paid nothing. That is insane.
I had to pay on years I made 14k and years I made 40K. He pays nothing?

I would add that his tax plan would seem to be of great benefit to...him.

On a static basis, the plan would lead to at least 0.8 percent higher after-tax income for all taxpayer quintiles. The plan would lead to at least 10.2 percent higher incomes for the top 1 percent of taxpayers or as much as 16.0 percent higher, depending on the nature of a key business policy provision.

taxfoundation.org...

Hillary did the same thing...must use the same tax guys.

Clinton Campaign Admits Hillary Used Same Tax Avoidance "Scheme" As Trump

www.zerohedge.com...

originally posted by: reldra
a reply to: coldkidc

It sort of means he is NOT a good businessman and this loss keeps him from paying taxes for many years.

He not only lost his own money, but that of investors and then he skates on taxes for decades.

That's not fair. Everyone looses eventually, some more than others. It's being able to bounce back after a tremendous loss that makes someone a good businessmen.

a reply to: Indigent

He must be a damn good businessman to bounce from a 1b lost.

Too bad he won't let us see how well he's actually been doing.

a reply to: reldra

Why has he not paid taxes though?

I think he is probably re investing it, and pulling from his improvements on holds over 2 years.

a reply to: reldra

He not only lost his own money, but that of investors and then he skates on taxes for decades.

Don't think the IRS considers it "skating" on taxes...

As for whether or not he's a good businessman I'll withholding judgment until we see more
But the fact he's still around & relevant after loosing a cool billion must have some relevance to his ability to recover from significant hits.

a reply to: Phage

He must be broke, poor guy is eating KFC in his private jet

a reply to: Mandroid7

Why has he not paid taxes though?

He hasn't? How do you know this?

Rumor is he had his tax returns leaked on purpose.

Blow the story up, give context to future tax returns.

Also looks like shots are being fired all over the place with clintons and the NYT being caught not paying at a certain time/year.

The october surprise is whatever Assange is going to say.

originally posted by: Mandroid7
a reply to: reldra

Why has he not paid taxes though?

I think he is probably re investing it, and pulling from his improvements on holds over 2 years.

No. You do pay taxes on dividends. I know his taxes are a big mess.

a reply to: coldkidc

Excellent talking point, and thanks for bringing it in. F&S.
This was mentioned by Trump indrectly before... and he
said it made him smart.

I don't know about the wisdom involved in knowing enough
tax law to be able to get out of paying it-- but all accounts
by the media, and specifically the NYTimes are questioning
the legality. Nobody's come up with any illegal behavior from
it yet, just spin about WOOT lookit all the taxes he Didn't....

Forget the fact that primarily this guy getting slammed made
all his money evidently legally... and the NYT is now being lam-
basted for outing taxpayer information without the filer's prior
knowledge or consent. Forget it's illegal... and the high likeli-
hood nobody will get in trouble with the feds for it. Status quo.

Take just a cursory look at the other party's front runner, and
in disregard of every other scandal-- where'd their wad
come from?
Six-digit speaking fees for a woman that half the time:and her
voice raised, can make a floored sabre saw with a wood blade on
a half inch diameter glass rod sound like butterscotch pudding?
I like it: besides it's the content that counts, not the presentation.
Pot meet caldera. May the heavens fall, I want this circus to end.

originally posted by: IAMTAT
Hillary did the same thing...must use the same tax guys.

Clinton Campaign Admits Hillary Used Same Tax Avoidance "Scheme" As Trump

www.zerohedge.com...

No, the clintons have always paid taxes. 30 years of their returns have been released.

a reply to: derfreebie

where'd their wad come from?

Look at their tax returns.

originally posted by: derfreebie
a reply to: coldkidc


Take just a cursory look at the other party's front runner, and
in disregard of every other scandal-- where'd their wad
come from?
Six-digit speaking fees for a woman that half the time:and her
voice raised, can make a floored sabre saw with a wood blade on
a half inch diameter glass rod sound like butterscotch pudding?
I like it: besides it's the content that counts, not the presentation.
Pot meet caldera. May the heavens fall, I want this circus to end.

They paid her to speak. A lot of people get paid to speak.

Call the head of Amazon or Microsoft and ask their rates.

a reply to: derfreebie

I want this circus to end

Amen