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Discussion and Debate
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American Politics
If Donald Trump really doesn't pay federal income tax...
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<blockquote data-quote="OldWiseGuy" data-source="post: 70216280" data-attributes="member: 139156"><p>Profits from business, if reinvested back into the business, become business expenses and thus are deductible and taxes are greatly reduced or eliminated altogether. Business 'losses' from large capital investments can be 'carried forward' to provide tax relief for years as well. All businesses do this, and it is not only smart, it's necessary.</p><p></p><p> Personal income can be fashioned in such a way to be taxed at the lowest rate i.e. capital gains @ 15 percent. That's what Romney did and was criticized for. Trump's companies are always in the growth mode thus corporate profits can be sheltered from taxation through reinvestment.</p><p> </p><p> Profits reinvested to avoid taxation always benefit the economy as they generate employment and income in the private sector. So rather than give the profits to a government welfare program the money is used to provide employment and build one's business.</p><p></p><p>These are not tax "loopholes". The tax code was fashioned so that businesses could use profits to grow and provide yet more employment, thus supporting employment and relieving the government of the burden of supporting the unemployed.</p><p></p><p>If there is a loophole it's allowing businesses to outsource production to other countries and not paying a penalty when those goods are returned and sold here.</p></blockquote><p></p>
[QUOTE="OldWiseGuy, post: 70216280, member: 139156"] Profits from business, if reinvested back into the business, become business expenses and thus are deductible and taxes are greatly reduced or eliminated altogether. Business 'losses' from large capital investments can be 'carried forward' to provide tax relief for years as well. All businesses do this, and it is not only smart, it's necessary. Personal income can be fashioned in such a way to be taxed at the lowest rate i.e. capital gains @ 15 percent. That's what Romney did and was criticized for. Trump's companies are always in the growth mode thus corporate profits can be sheltered from taxation through reinvestment. Profits reinvested to avoid taxation always benefit the economy as they generate employment and income in the private sector. So rather than give the profits to a government welfare program the money is used to provide employment and build one's business. These are not tax "loopholes". The tax code was fashioned so that businesses could use profits to grow and provide yet more employment, thus supporting employment and relieving the government of the burden of supporting the unemployed. If there is a loophole it's allowing businesses to outsource production to other countries and not paying a penalty when those goods are returned and sold here. [/QUOTE]
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If Donald Trump really doesn't pay federal income tax...
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