Trump's tax returns to be released to the Dems...

#326
#326
LouderVol said:
Depends on what you see the problem is.

What does the billionaires paying X taxes fix?

I dont see how giving our government even more money fixes anything.

Only thing I would fix is to simplify the tax code so that you didnt need a tax lawyer or a cpa, to use the existing laws to pay less taxes.
Click to expand...

Who said it fixes anything.

Do you not see a problem with a billionaire paying $0 and yourself paying say 25% of your income? All I said is there is a problem with everything (in DC) if that is the case, and you guys are arguing for some odd reason.
 
#327
#327
BigOrangeMojo said:
If you inherit hundreds of millions of dollars and invest it over 40-50 years, you should be worth tens of billions of dollars. If you don't sell, you won't owe any taxes...
Click to expand...

Because rich guys wrote the code, not me. Isn't it so fair?
 
#328
#328
n_huffhines said:
Because rich guys wrote the code, not me. Isn't it so fair?
Click to expand...

The main reason Trump is a billionaire isn't his real estate dealings. It's his branding and inheriting hundreds of millions of dollars. The reason why he won't pay a lot in taxes is because he's really not that good at real estate...

You've dealt with real-estate before. There's a lot of preferences in the Code for real estate...
 
#330
#330
n_huffhines said:
Who said it fixes anything.

Do you not see a problem with a billionaire paying $0 and yourself paying say 25% of your income? All I said is there is a problem with everything (in DC) if that is the case, and you guys are arguing for some odd reason.
Click to expand...
Yes. I do see something wrong, I even pointed out your scenario in my post.

I just actually want to fix it, instead of what you are implying of making it worse. I want to make the tax codes easier so that everyone pays closer to 0%, and not make sure everyone pays 25%. That's fixing it, imo.
 
  • Like
Reactions: NurseGoodVol
#331
#331
BigOrangeMojo said:
The main reason Trump is a billionaire isn't his real estate dealings. It's his branding and inheriting hundreds of millions of dollars. The reason why he won't pay a lot in taxes is because he's really not that good at real estate...

You've dealt with real-estate before. There's a lot of preferences in the Code for real estate...
Click to expand...

The point isn't that it's legal/illegal. The point is that we have broken tax code.
 
  • Like
Reactions: AM64
#332
#332
LouderVol said:
Yes. I do see something wrong, I even pointed out your scenario in my post.

I just actually want to fix it, instead of what you are implying of making it worse. I want to make the tax codes easier so that everyone pays closer to 0%, and not make sure everyone pays 25%. That's fixing it, imo.
Click to expand...

No idea what you're talking about.
 
#333
#333
LouderVol said:
We all pay a lot of extra taxes on top of income taxes. Not sure that gives them a pass.
Click to expand...

As long as they follow the tax code I have no problem with what if any they pay. Now, do I think the tax laws should be scrapped and rewritten to some form of flat or consumption tax? Yes but that is a different subject.
 
  • Like
Reactions: AM64
#334
#334
LouderVol said:
Lol. Or he isnt as rich as he says he is, and doesnt want it public. You know the lying aspect you were just harping on.
The committee wont find anything criminal if the IRS didnt.
Click to expand...

He isn't as rich as he says he is? So you agree with me that he is a liar. Now doesn't that just take the German chocolate-strawberry cake?
The IRS didn't really investigate, Trump-fear was in the federal agencies at the time, he and his cronies replaced, gutted, and intimidated agencies. He even promised that if reelected, he'd go even further in gutting them. In other words, bring forth round 2 of Trump-fear and stifle any true investigations to his illegal activities, including tax fraud.

First Office Actions

Second Office Promise
 
#335
#335
WoodsmanVol said:
He isn't as rich as he says he is? So you agree with me that he is a liar. Now doesn't that just take the German chocolate-strawberry cake?
The IRS didn't really investigate, Trump-fear was in the federal agencies at the time, he and his cronies replaced, gutted, and intimidated agencies. He even promised that if reelected, he'd go even further in gutting them. In other words, bring forth round 2 of Trump-fear and stifle any true investigations to his illegal activities, including tax fraud.

First Office Actions

Second Office Promise
Click to expand...

He was POTUS for 4 years, he's been filing tax returns for how many decades?
 
  • Like
Reactions: AM64
#336
#336
n_huffhines said:
The point isn't that it's legal. The point is that we have broken tax code.
Click to expand...

The tax code favors investing. That's not really a bad thing. If Trump was the real estate savant he portrays himself to be, he'd pay a lot more in taxes. I have a couple of stocks that I've held for 15-20 years that have really appreciated. When should I pay tax on that appreciation?
 
#337
#337
WoodsmanVol said:
He isn't as rich as he says he is? So you agree with me that he is a liar. Now doesn't that just take the German chocolate-strawberry cake?
The IRS didn't really investigate, Trump-fear was in the federal agencies at the time, he and his cronies replaced, gutted, and intimidated agencies. He even promised that if reelected, he'd go even further in gutting them. In other words, bring forth round 2 of Trump-fear and stifle any true investigations to his illegal activities, including tax fraud.

First Office Actions

Second Office Promise
Click to expand...

Call the iRS and report him if you don’t think any of your liberal party members haven’t investigated Trumps finances before this . YOU GOT HIM THIS TIME! 😂
 
  • Like
Reactions: AM64 and Orangeburst
#338
#338
WoodsmanVol said:
Trump's relentless fight to keep information hidden that is legally reviewable, and at one point in his first campaign promised he'd release the information, says two things. One, he's a liar. Two, he has serious illegal acts he doesn't want revealed, as likely it would send him to jail. If he was so innocent, he'd jump at the chance to show this and permanently, and I do mean permanently, silence his critics and haters with recorded proof of his innocence. The fact he doesn't do this, makes it clear his running and hiding like any street criminal fleeing to avoid facing justice, knows he is guilty. Until now, he could rely on his layers of lawyers, yes men/women, money corrupted judges and law enforcement agencies and personnel, laundered funds and documents as a veil to hide behind. Very much the way Mafia chieftains do. Hopefully, the gig is finally coming to an end.

Cue the howls of Trumpanzees.
Click to expand...
What serious illegal acts would be exposed in his tax returns?
 
  • Like
Reactions: AM64
#341
#341
WoodsmanVol said:
NYC AG will et you know in due time. Went after and got his cronies first, now Trump's turn.
Click to expand...
So why do you claim these serious illegal acts exist without being able to provide a single detail? Maybe you're the true Trumpanzee
 
  • Like
Reactions: AM64
#342
#342
hog88 said:
As long as they follow the tax code I have no problem with what if any they pay. Now, do I think the tax laws should be scrapped and rewritten to some form of flat or consumption tax? Yes but that is a different subject.
Click to expand...
Agreed. Like I said for this discussion the only changes I would make is to make these "loopholes" more accessible to all.
 
#343
#343
n_huffhines said:
No idea what you're talking about.
Click to expand...
I generally think income taxes are bad. Anything that increases what any body's paid income taxes are is bad imo.

Your solution is to make the billionaires pay more.
My solution is to make the 99% pay less, similar to what the billionaires pay.

I would rather take advantage of the loopholes, than to narc on the loophole and have it closed.

To hog's point, my above statements only generally apply to the tax code as written now. Not what my ideal would be.
 
#345
#345
WoodsmanVol said:
He isn't as rich as he says he is? So you agree with me that he is a liar. Now doesn't that just take the German chocolate-strawberry cake?
The IRS didn't really investigate, Trump-fear was in the federal agencies at the time, he and his cronies replaced, gutted, and intimidated agencies. He even promised that if reelected, he'd go even further in gutting them. In other words, bring forth round 2 of Trump-fear and stifle any true investigations to his illegal activities, including tax fraud.

First Office Actions

Second Office Promise
Click to expand...
Trump was elected in what 2016? Plenty of pre-Trump presidency time for an "impartial" IRS to look into him. So I think your argument is BS that he is hiding something in his 1040s. By the same token it's been almost 3 years since he left office? Plenty of time for a vengeful IRS to dig in and find something.

I would also argue there is more anti-Trump people in DC than there ever were pro-Trump people. So your argument about them being scared is still bs imo.

Now as to Trump being a liar, I have no idea why you would think I wouldnt believe that. I hate Trump, i just hate him for actual policy issues instead of his Tweets.

All that to say the one thing you arent allowed to illegally mess with in this country, regardless of politics, are the taxes. If Trumo had something wrong there, we would know, the IRS has never pulled its punches, and I havent seenanything to indicate they started.
 
  • Like
Reactions: W.TN.Orange Blood, NurseGoodVol, AM64 and 1 other person
#347
#347
LouderVol said:
I know, that's why I said to simplify it, so you didnt need a lawyer to help you navigate those loopholes. It should be easy enough where it can go on the 1040 as well.
Click to expand...

100% agree that the tax code needs to be simplified to the point accountants go the way of the dodo bird.
 
  • Like
Reactions: AM64
#348
#348
n_huffhines said:
Who said it fixes anything.

Do you not see a problem with a billionaire paying $0 and yourself paying say 25% of your income? All I said is there is a problem with everything (in DC) if that is the case, and you guys are arguing for some odd reason.
Click to expand...

So you are a proponent for taxing unrealized gains? If so, what happens if those same stocks take a downturn? Do we get money back?

For example. I have a good bit of AMD in my accounts. I'm not selling as it is a long hold for me. This time last year, it was over 100% gain in my account. Should I have paid a tax on that? What happens when it gives up most/all of those gains this year? Do I get the tax money I would have paid last year back this year?
 
  • Like
Reactions: AM64
#349
#349
volinSmyrna said:
So you are a proponent for taxing unrealized gains? If so, what happens if those same stocks take a downturn? Do we get money back?

For example. I have a good bit of AMD in my accounts. I'm not selling as it is a long hold for me. This time last year, it was over 100% gain in my account. Should I have paid a tax on that? What happens when it gives up most/all of those gains this year? Do I get the tax money I would have paid last year back this year?
Click to expand...

He just wants to bitch about Trump, he's not interested in solutions.
 
  • Like
Reactions: W.TN.Orange Blood, NurseGoodVol, AM64 and 1 other person
#350
#350
I'm not saying the tax law isn't broken and yes, Trump likely played rate arbitrage and planned very well. For example, they likely undervalued stuff for estate tax purposes when Fred died (rate of 55%) and when Trump sold his portion, he either paid low capital gain rates (15%-20%) or did a like kind exchange to defer taxation even further. I would bet Trump probably has some type of AMT tax credit as well. I would bet he has some of his trademarks internationally just because of the FDII provision in TCJA.
 
New posts
You must log in or register to reply here.
Advertisement





Back
Top