If Donald Trump really doesn't pay federal income tax...

[4x4toy]

...how do we know that?
Trump was investing thousands in Castro's Cuba....with the "appearance" of legality, while publicly declaring his support for the Cuba embargo. Trump's attorneys and accountants can make anything appear legal. There's a reason why Trump has been audited continuously by the IRS....and there's a reason his counsel is advising not to disclose his tax returns.

Are you kidding , The IRS audits !!!

 

[wing2000]

Are you kidding , The IRS audits !!!

As well they should. If I am paying my fair share I expect others to as well. Trump's business ethics are suspect at best. From my experience, if you really want to evaluate someone's character, examine how they handle their money....

 

[4x4toy]

As well they should. If I am paying my fair share I expect others to as well. Trump's business ethics are suspect at best. From my experience, if you really want to evaluate someone's character, examine how they handle their money....

It's legal for your government to pay 100 dollars per load of clothes washing and 300 dollars for a government toilet seat , do you see that ending with your candidate ? Maybe you work on a government job , in that case I understand your position .. carry on

 

[wing2000]

It's legal for your government to pay 100 dollars per load of clothes washing and 300 dollars for a government toilet seat , do you see that ending with your candidate ? Maybe you work on a government job , in that case I understand your position .. carry on

And you think Donald Trump is going to reign in Defense contracts? And no, the last time I worked for the government I was wearing an Army uniform...over 25 years ago.

 

[Hank77]

Is there a single reader of this thread who is going to step forward and say "I want to pay more taxes than I am legally required to?"

Maybe another question would be, has anyone not taken a tax deduction or credit that they were legally eligible to take.
If that were a question, my answer would be yes. I know one person who chose not to take an earned income credit and another who chose not to take a child credit. In both cases they would have received money from the government (other taxpayers) that they did not pay in.

When I was manufacturing and selling a small product I could have made one small change that would have legally allowed me to take a deduction for the vehicle I used in that business. I didn't make that change because I didn't believe that it was warranted.

Companies are legally allowed to take deductions for things like condos at ski resorts, luxury cars, fishing boats, etc. that are not directly connected to the product or service they provide some will take advantage of those deductions but others don't because they do not believe that they should.

 

[4x4toy]

And you think Donald Trump is going to reign in Defense contracts? And no, the last time I worked for the government I was wearing an Army uniform...over 25 years ago.

Yes , and thank you for your service . I've never worked for the government , I am concerned for our veterans and donated when Trump skipped the debate .

 

[Hank77]

If Trump receives a personal income he pays taxes although his various businesses might not. I'm guessing that like Romney and others he realizes personal income by taking capital gain income, and thus paying the lowest rate. All legal and moral as well.

So when a candidate says that they want to reduce or do away with the capital gains tax, who will that benefit the most and what would that do to the amount of taxes collected to run the country?

 

[cow451]

It's not an argument. It an answer to a question. He said he would release his tax returns, against his lawyer's advice, when Hillary Clinton released the e-mails she deleted. Seems reasonable to me.

It's a pitiful answer. Don't play semantics. It's a pitiful excuse that anybody that knows anything about taxes knows is a load of horse hockey.

 

[civilwarbuff]

Trump was investing thousands in Castro's Cuba....

and you have evidence of that, right?

Trump has (reportedly) used various forms of depreciation on his properties to offset any taxes due from other activities. What is not generally known is that all that depreciation will be 'recaptured' when the properties are finally sold (not rolled into other like properties), along with taxes on the actual appreciation on those properties. His plan is to keep as many properties as he can to avoid this but at some future time they will be sold and the taxes will be paid.

Exactly, the taxes are not being avoided only deferred.....at some point you have to pay the piper......

 

[SoldierOfTheKing]

There's a reason why Trump has been audited continuously by the IRS....and there's a reason his counsel is advising not to disclose his tax returns.

...and if he's done anything outside of the law, the IRS can take action against him. They already have access to his tax returns.

 

[civilwarbuff]

....and then complaining about NATO partners who are not carrying their share of the defense burden.

And he is correct; some countries are not spending the agreed upon percentage on their militaries.....who do you think is making up the difference?

 

[civilwarbuff]

So when a candidate says that they want to reduce or do away with the capital gains tax, who will that benefit the most and what would that do to the amount of taxes collected to run the country?

LT capital gains are taxed at 15%; marginal tax rates on the wealthy are much higher......do the math.

 

[OldWiseGuy]

LT capital gains are taxed at 15%; marginal tax rates on the wealthy are much higher......do the math.

And because the wealthy pay most of the taxes they are certainly not 'evading' them very well.

 

[Hank77]

It's not an argument. It an answer to a question. He said he would release his tax returns, against his lawyer's advice, when Hillary Clinton released the e-mails she deleted. Seems reasonable to me.

That's funny. How could she release emails that were deleted from the server and from a server that she does not have in her possession? So no, his deal was not reasonable. He should be considering what the Voters want from HIM. Are the voters to be kept from transparency from HIM because they are kept from Clinton's email? That is not a logical argument.

 

[Hank77]

LT capital gains are taxed at 15%; marginal tax rates on the wealthy are much higher......do the math.

I am quite aware of this. Please reread the post I was responding to. If most, or all, of your taxable income is from capital gains and the capital gains tax is reduced or eliminated, what? Do the math.

 

[Albion]

That's funny. How could she release emails that were deleted from the server and from a server that she does not have in her possession?

How can the Democrats know that Trump's unpublished tax returns show him not to have paid any tax??

 

[SoldierOfTheKing]

That's funny. How could she release emails that were deleted from the server and from a server that she does not have in her possession?

I'm not much of a techwitz, but I know there are ways of recovering deleted e-mails.

He should be considering what the Voters want from HIM. Are the voters to be kept from transparency from HIM because they are kept from Clinton's email?

He's also considering his lawyer's advice, which he is prepared to go against if his opponent shows some transparency of her own. She's lucky he didn't ask her to release her medical records. His tax returns are just as private.

That is not a logical argument.

I specifically said it wasn't an argument. It wasn't supposed to be. He is stating the conditions under which he will release his tax returns before the audit is finished.

 

[civilwarbuff]

I am quite aware of this. Please reread the post I was responding to. If most, or all, of your taxable income is from capital gains and the capital gains tax is reduced or eliminated, what? Do the math.

It should be taxed as normal income after all deductions are eliminated and rates are drastically cut......I know, in my dreams. The tax code needs to be set up so that people will invest for their best interest and not for what will minimize their taxes.....far better for the econmy that way.

 

[civilwarbuff]

How can the Democrats know that Trump's unpublished tax returns show him not to have paid any tax??

Well, the democrats do control the Treasure Dept.......

 

[Hank77]

The tax code for most people is pretty simple; one page; the schedule 1040. I needed four schedules for my rental business but it was still simple, just took longer to fill out. People have made the tax code into a boogieman unnecessarily. Most who call for tax reform don't really need it. What they want is for taxes on the rich to be 'reformed' upward.

If all tax returns were that simple accounting firms and tax attorneys would be put out of business.