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Trump paid no 2020 income tax

[media=https://youtu.be/cuGnmtvFO-I]he is so smart to pay no taxes dont ya think so.. i pay taxes and i bet you do also
mind ya this clip is from fox news . so it they say its bad .. its real bad.. so funny
redredred · M
If you suffer significant business losses they are deductible so you might avoid paying taxes for that tax year. The law even allows a carry-forward provision to spread those losses over several tax years.

Leftards desperately tried to find something improper in his taxes and failed. If he obeyed the law as written, no reasonable person should have a problem with it.
boudinMan · 61-69, M
@BohemianBoo yeah, the USSR was capitalist... ok, dude.
BohemianBoo · 18-21, M
@boudinMan Again, I care about policy, not labels. The Soviet Union called itself socialist and republican. It was neither.
trollslayer · 46-50, M
@redredred If people have a problem with it, they should have a problem with the law as written.
DeWayfarer · 61-69, M
Not just the wealthy should be taxed more. It should as well apply to both corporations and even more so on multi national corporations.

The problem with taxing the wealthy is they put their money elsewhere. Which is often in places that simply don't get taxed.

So you own several corporations, therefore you simply don't receive back as much, so you don't pay those taxes. Just let the corporation cover what you want.

Cover it over several corporations and no one will even notice it.
MrSmooTh · 31-35, M
Trump was President of the United States in 2020. He took no salary, and donated it all to charity. He did his fair share as far as Im concerned. Income tax is a scam. Stop taking money from hard working people and giving it to people who sit on their ass and do nothing.
MarkPaul · 26-30, M
@MrSmooTh He said he donated his salary to charity. You believed him (hook, line, and sinker). His tax returns prove he donated 0.0 of his salary to charity. Income tax is the law. He broke the law. Perhaps he can put in community service hours to meet your qualification for doing his fair share.
MrSmooTh · 31-35, M
@BohemianBoo Says a source that may or may not be true in which case we can just argue in circles around this.
BohemianBoo · 18-21, M
@MrSmooTh I'm sure no source is good enough for you. The FBI, the IRS, they're all controlled by the Deep State, right?
PTCdresser57 · 61-69, M
Easiest way to make everyone pay taxes is a flat tax of all income of 8%. Can you imagine Jeff Bezo/Amazon paying 8% instead of nothing on 64 billion?
eli1601 · 70-79, M
@PTCdresser57 Bezos may be worth 64 billion, but that is certainly not his income.
PTCdresser57 · 61-69, M
True eli1601...lets look at Amazon as a company...in 2021 it made 502 billion yet payed no tax...why??...because of tax codes. If we just went with 8%...no deductions or exemptions..Amazon would have payed roughly 41 billion in taxes....and still made 461 billion...lol...and that is just 1 of 60 of the top companies that paid NO taxes.
trollslayer · 46-50, M
@PTCdresser57 impossible. You can’t sway voters without tax incentives or loopholes.
MasterLee · 51-55, M
Smart guy. If you actually looked at them you see he is a successful businessman. He did it legally.

Oh sorry, orange man bad.
whowasthatmaskedman · 70-79, M
@MasterLee Trump has never been a successful businessman in his own right. He is at best a real estate owner..(And not a great one..) Everything else he sold his "Brand" to and more often they lost so badly other people were cheated while he walked away.😷
MasterLee · 51-55, M
whowasthatmaskedman · 70-79, M
I have this brilliant idea, that the more tax a person pays, the more they should be able to direct the policy of the government of the day. A simple 20 question multiple choice questionaire entitled "How would you like your taxes spent?" could be used to collate the results through a computer and a simple bill passed to legislate the result as a portion of the taxes raised. If there is a deficit. (and there is always a deficit) then the same % hold for the overall budget. I think America would be a vastly different place in a year or two...😷
whowasthatmaskedman · 70-79, M
@eli1601 Absolutely.. The whole idea being to make expenditure responsive to the wishes of the "taxpayers" at Federal and state levels. The logictics are not hard with modern computer tech and the scanning would be automated along with the tax return data. Collation would take minutes..😷
eli1601 · 70-79, M
@whowasthatmaskedman So we in the US could get rid of Congress, the President, and much of the judiciary, and others in the deep state just by deciding not to pay them. Or at least limit their powers greatly. Direct democracy. 👍
whowasthatmaskedman · 70-79, M
@eli1601 Well, their pay would be part of the "administrative charges" under which other public servants (Judges come to mind) would be paid, so yes...It is a way of gauging "customer satisfaction". But just as important, I dont think the public need to decide whether to buy another Supercarrier.. They will however be asked to decide on the question of "defence spending" in general. Then its up the politicians and generals to work with the budget they are given..But I think you get at this point why this is NEVER going to happen...😷
BohemianBoo · 18-21, M
Nobody has validated the criticisms of Capitalism more than Donald Trump and Elon Musk.
Crazywaterspring · 61-69, M
The rich generally don't pay taxes. They have accountants and tax attorneys to guide them through the Byzantine tax code.
redredred · M
@Crazywaterspring the top 1% pay 28% of all tax revenue. The bottom 50% pay only 4% of all tax revenue.
Carazaa · F
@Crazywaterspring Even the rich have to pay taxes. It is illegal to not pay our taxes. The thing is that when someone has a business, they can write off their expenses, but not everything.
markansas · 61-69, M
8 billionaires own same wealth as half the world
[media=https://youtu.be/rJ7pIERgFEQ]Super-rich amass majority of new wealth
markansas · 61-69, M
@redredred
The cost of eggs has risen across the country. Prices were up in December by 60% compared to the same time the year prior. Avian flu is mostly to blame.
https://www.npr.org/2023/01/19/1150073898/why-the-price-of-eggs-spiked-so-high-in-the-span-of-one-year

taxs pay for the government, for recreational, employment, and health and safety uses in the greater community. They include public buildings (municipal buildings, schools, and hospitals), transport infrastructure (roads, railroads, bridges, pipelines, canals, ports, and airports), public spaces (public squares, parks, and beaches), public services (water supply and treatment, sewage treatment, electrical grid, and dams), and other, usually long-term, physical assets and facilities.
https://en.wikipedia.org/wiki/Public_works

Federal Reserve data indicates that as of Q4 2021, the top 1% of households in the United States held 32.3% of the country's wealth, while the bottom 50% held 2.6%.
https://en.wikipedia.org/wiki/Wealth_inequality_in_the_United_States

here are the links if ya want to read them.. there is a widening gap between the rich and the poor. just a fact... mark
redredred · M
@markansas this country is $30.6 TRILLION in debt. Let me put that in perspective.
A thousand seconds is a coffee break
A million seconds is a vacation
A billion seconds is a career
A trillion seconds is 315 centuries!

It is axiomatic and beyond question that the US spends way too much. $30.6trillion is about $90,000 per capita. That’s every man, woman and child in this country owing $90,000.
markansas · 61-69, M
@redredred and to the rich 90k is nothing .. to the poor it would cause them to never get out of debt.. the rich dont care if gas goes to 5 bucks a gallon.. that is pocket change.. the rich should pay more for getting rich from taking from the poor..

Exxon gross profit for the twelve months ending September 30, 2022 was $107.549B, a 110.19% increase year-over-year. Exxon annual gross profit for 2021 was $64.202B, a 107.49% increase from 202
profit 107 billion off the poor.. ya tax them more...
oh well been fun .. chat at ya later. red.... grin
turbineman40 · 80-89, M
The tax laws are written for the benefits of the members of Congress, so why should those members complain when another person uses the same laws to his advantage?
turbineman40 · 80-89, M
I thought a flat tax is a tax paid when you make a purchase. Same for companies and all they buy?
redredred · M
@turbineman40 That’s a VAT or value added tax. Or possibly you were thinking of a sales tax.
Budwick · 70-79, M
You could encourage government to change / simplify tax law.

But, I'm sure it's fun to complain about Trump.
Most people want the rich to pay up.
But this story will totally be in the way. We're out of luck.
MarineBob · 56-60, M
If you donate your salary you may nor have to pay either
bookerdana · M
You're surprised? Just a grifter in over his head
markansas · 61-69, M
[media=https://youtu.be/Y0xwmGM0DOY]Should we tax the rich more?

 
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