By, Jason Taylor
While I’m thrilled this has come out and people’re having a cow over it, I really don’t care… It’s the tax laws?—?not any horrible, disgusting, illegal stuff this creature has done?—?that need to be changed. What I wanna hear about are the horrible, disgusting, illegal things, like the Trump “Foundation” money and the Cuba ventures and whatever It’s tried to make happen in Russia, as well as the constant lies about It’s net-worth. While this’ll generate bad press, which’s great, of course, how could this pond-scum be handed the nuclear codes (Yes, I just threw salt over my shoulder) when for all we know It had/has co-investments with our enemies? Shouldn’t it be REQUIRED that we know these things?
Apparently he isn’t really all that smart about taxes. From his former “accountant’s” description, he really didn’t understand much of what was going on. He just hired someone who did know.
Many issues are starting to come out that Trump had ties to many in Iran, and Cuba (we already knew about Russia) my question to Mr. Trump what exactly were you investing in… this is a question that needs to be asked. Losing 915 billion dollars in one year is not pocket change my friends. Trump as of today has a net worth of some 3 billion dollars. Compared to Warren Buffet who has a net worth over 70 billion, and Bill Gates who’s net worth is somewhere around 91 billion. Even Mark Zuckerberg who’s net worth is at 60 billion could buy Trump 10 times over. Donald Trump is dead broke. He lost 815 million dollars this past year.
And, while it may not have been illegal (some debate there), it certainly was morally corrupt. And then he has the gall to propose even more tax breaks for the rich, in particular for those in real estate. From some analyses, if his proposals would become law, he and his family could stand to save several BILLION dollars, because one of the things he wants to get rid of entirely is the estate tax. So, in his world, he should pay taxes now and his heirs shouldn’t pay taxes on the money they didn’t earn but got only by birthright.
One wonders whether, with all his nearly twenty years of untaxed hundreds of millions of dollars, Mr Trump bestowed any of that largesse on all the good causes he said he’s contributed. Since he has steadfastly refused to allow any of his tax records to be examined, I think we can be confident that he’s just as cheap as he is dishonest. How much money did Trump give to the Saudis? How much to Iran, Russia? No one knows.
Legal or not, this is the man who tells us taxes are too high, and wants to rewrite the tax code to give wealthy people even more breaks.
Even if this was his “fiduciary” responsibility?—?his responsibility to the rest of us was to scream from the highest tower that the tax code unfairly served people like himself, and he should have been taxed more.
“While the poor and middle class fight for us in Afghanistan, and while most Americans struggle to make ends meet, we mega-rich continue to get our extraordinary tax breaks,” Warren Buffett wrote in a New York Times Op-ed five years ago. Trump has said no such thing.
To keep things relatively simple, I’m telling you what I see in Trump’s returns, based on my decades of experience parsing financial filings. I will try not to get bogged down in numbers and technicalities.
Sure, the $900 million-plus of losses reported by the New York Times?—?losses that could be used to offset income for a total of 18 years?—?are totally shocking. Legal, yes. But shocking.
But there’s something I consider even more shocking?—?although it involves a much smaller number.
By my read of the Trump tax return published by the New York Times, he would have been tax-free because of a $15,818,562 loss reported on Line 11 of the return under “Rental real estate, royalties, partnerships, S corporations, trusts, etc.” It looks to me that this loss reflects the outrageous, special tax break that real estate developers that people like Trump can get, but that the rest of us can’t.
Trump said: “I never pay more than 85 cents for each Dollar I owe and therefore when I am President I will not pay the U.S. debt creditors the full amount”…”As President you are in control because you are the one that prints the money”… “I love debt, I am the king of debt”…”I didn’t pay taxes therefore I am smart”… (And you are stupid because you have taxes deducted from each and everyone of your paychecks)… “I will bring jobs back to America” (but not the jobs I just created in Scotland via my new golf resort)… “I lost almost a Billion Dollars in one single tax year therefore I am a great, very talented businessman”…
Donald Trump, some businessman you are! You report a loss of 915+ million dollars and you think your business acumen is a persuasive reason to vote for you? You are part of the reason why the gulf between the rich and poor has widened so substantially over the last 25 years and economic injustice in the USA is so rampant. And how arrogant of you, to boast of your financial wealth, yet oppose paying any federal tax for so many years. Meanwhile, you say some of our citizens are living in hellish conditions yet you oppose raising the minimum wage for the poorest wage earners. I have two related questions for you to ponder: 1.) What would happen if everyone in the country did what you did and paid no income tax? 2.) Would such a practice?—?of none us paying any income tax?—?make this country “Great Again” as you so often promulgate? Using any loophole you can exploit to pay no tax does not make you “smart.” Rather, it makes you unfit to serve as president?—?or in other political office, for that matter.
The overarching purpose of your job is to work for justice. In a country where millions of ordinary citizens pay their fair share of taxes to support our schools, our local police and fire departments, our military, and dozens of important infrastructure projects aimed at improving the quality of our lives, I am appalled that you have chosen not to contribute any money to the very same groups and projects your purport to support. It is now clear why you didn’t any of us to see your tax returns, hiding behind the incessant excuse that “I’m under audit.” You won’t be surprised to learn that you did not earn my vote this November.