Link A loss of $915m in 1995 - $1.4b in 2016 money. Did I mention that it was a strong economic year and he still lost $1.4 billion? Tl;dr: His losses were so severe the government took pity on him. He also avoided paying income tax for two decades. # Learn the game, then post # Checkmate # RIP Drumpf campaign
Donald J. Trump (realDonaldTrump) @BarackObama who wants to raise all our taxes, only pays 20.5% on $790k salary. http://t.co/bqF26mQf Do as I say not as I do. 11:19 AM - 13 Apr 2012
Again not sure what the big deal is. He took big enough losses to counter paying tax. It happens all of the time with business owners. Our family takes advantage of this too, albeit its a smaller scale so we still end up paying some tax.
He lost a billion dollars in one year. Considering that he places a multi-billion value on just his name alone he could easily be running a scam that would make Bernie Madoff blush. He needs to release more tax returns, this one year paints a terrible picture of him as a businessman.
He doesn't need to release shit. The man used tax law to avoid paying taxes. We need to move on. People upset about it need to lobby to fix the tax code if they don't like it. Nobody is going to pay tax just "for the hell of it". Also the amount of property tax, excise tax, and other taxes hes paid through his business dealings are more than most Americans pay in a life time. Time to get over it.
a couple issues. 1) his basic claim is that he is such a good business man that he should run our country, but this claim seems unsubstantiated at best. 2) It shows a flaw in the system, where you still pay some taxes, I pay taxes, but someone who is worth millions, or possibly billions doesn't pay to support our troops, our schools, roads, hospitals, or anything yet still shits on gold toilets. Although I don't think this by itself means he shouldn't become president, I do think it ruins his claim that he has some natural gift to make money and that gift will translate to the oval office. He started his career with 14mil from his father (at least) and yet has filed bankruptcy multiple times and has demonstrated an ability to lose money in boom years. His main claim seems faulty.
If he's not paying taxes then why is he proposing to give himself a large tax cut once he's president?
If he used the tax law to avoid paying taxes I could care less. Why? Because it was legal to do so. He contributed to the economy in other ways big time. I am not sure I see a huge problem with him not paying taxes on his losses. Again: "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, along with very substantial charitable contributions." You're right. We don't know, yet here it is front page insinuating a bunch of bullshit. I'm not going to spell out his tax plan; if you don't know go read it. I am against taxes regardless of who you are so you'll never see me advocating people paying tax. Hell I don't even want Hillary paying and I can't stand that wench.
I dont see the big deal. He didn't lose a billion dollars, he showed a loss of a billion dollars by having brilliant CPA's. Richbpeople do this all the time. Now when I say it's not a big deal, I mean because a lot if people do it. Doesn't mean I want my President doing it......Even though most probably have and do.
My post that you are responding to never said that he is wrong to try and pay little tax. This is not my claim. It does relate to half my post, that the system is screwed up and needs correcting because there is no way someone worth billions should have that legal loophole available while the average citizen has to pay a heavy toll every year. But as the laws stand, I don't think it is wrong to try and use legal loopholes. But when those loopholes come year after year, which means losing money year after year, that shows something else. The other portion of my post was that Donald in many ways is basing his run for the presidency on a basic premise 'The Donald is the Best Businessman' and earns money hands over fists. And that this extraordinary business acumen will translate to running the US government. But the more times we learn about bankruptcies, business scams, taking huge losses in boom years, the more those color our view of Donald as something of a shyster, someone who could end up causing huge problems to our economy, the exact area he proclaims to be the best at.
All of these claims are speculation honestly, as even in the article the wording was "may". There is no real proof yet. Put that with him using tax law to his advantage I don't care and neither should anyone else who could do the same thing if they wanted. Business is cutthroat and with as many business ventures and investments this guy has had its no wonder some have failed. But also some have massively succeeded and we have proof of that; the guy is very successful and wealthy. His overal average of business success seems to be above average to me. Have no issues with him coming in and fixing our fucked up government. People complain about his taxes but it's the tax code approved and written by the typical career politicians that have been in office for that last X amount of years... yes including the people's champ Hillary. She is a hypocrite and she is part and cause of this problem. But most liberals are too tunnel visioned to put this correlation together. Out with the old guard and time to shake things up.
