@fazer1k:
US Taxes come in many forms. Besides federal income taxes, we pay state income taxes, city earring taxes, sales taxes, property taxes, real estate taxes, payroll taxes, inheritance taxes, excise taxes, special hotel taxes... basically taxes on everything. The average working American will easily see over 50% of his/her earnings being used to pay taxes in one form or another. Most taxes are in and of themselves. That means a business profit or loss has no effect on the amount owed/paid for real estate taxes.
Business income taxes are paid on business earnings. That basically means money collected (or earnings accrued) minus expenses paid (or accrued), based on standard accounting practices. And it's perfectly acceptable to carry losses to future years. Example, if it cost $1 million to build a building in 2016, and the building is sold in 2017, the tax filing for 2016 would show a $1 million loss. The loss wound carry to 2017. If the building is sold in 2017 for $1.1 million, the tax would be on the $100,000 profit.
Big losses that carry forward to multiple years aren't unusual. There is no tax prize for a big loss and it's not an escape from paying one's fair share. If the business doesn't eventually cover the loss with earnings, at the end of the game, the loss comes out of the owner's pocket.
What I found pretty funny was Hillary's flip-flop in Trump's business loss. First she claimed that he must be a horrible businessman if he lost 1 billion dollars in one year, and then she changed horse and tried to associate his billion dollar loss with not paying his fair share :)
The US income tax code is super complex and the average voter probably doesn't know the difference between a debit and a credit. Democrats pander to Americans who don't own businesses and claim that the rich aren't paying their fair share. It's part of the Democrats' plan to keep Americans "Dumb and compliant" as revealed on recently released Democrat e-mail.
