America's #1 Online Cigar Auction
first, best, biggest!

https://www.washingtonpost.com/news/wonk/wp/2016/10/02/the-most-shocking-part-of-donald-trumps-tax-records-isnt-the-916-million-loss-everyones-talking-about/

Although Christie thinks it shows Trump's huge ingeniousness.

https://www.rawstory.com/2016/10/chris-christie-spin-stuns-fox-host-losing-900-million-is-a-very-good-story-for-donald-trump/

The problem is that Agent Orange has a long history of stiffing the small guys. It's what he does.

This is also what he wants to do, he only looks out for himself:

"I have plenty of problems with the Clintons’ financial behavior, as I wrote. But at least Hillary Clinton is proposing tax code changes that would cost her and her family money. Trump, by contrast, is proposing tax changes that would greatly benefit the commercial real estate business, which is his primary field, and would greatly benefit his own family. And when I asked his campaign last week whether he was proposing any tax changes that would cost him and/or his family any money, I got no reply."

How the h3ll can you lose 960 million bucks in one year and still function as a business unless your
GM or Ford?

Here's the deal, he didn't loose anything except numbers on a piece of paper. He's got a tax firm worth more than their weight in gold. He's only taking advantage of the laws the IRS put in place. Income vs expenses. The average Joe can't take advantage of the same tax laws because most of them involve owning your own company. so the average Joe pays more taxes based on their 9 to 5. Where as a corporation such as Trump's, knows where they stand tax wise and can make end of year purchases to offset the taxes. It can be risky, but it's the governments rules. Killory is no different. If she gets into office do you REALLY think she's going to change those same rules that got her and Bill where they are today?

There's about 100 pages front AND back of things a corporation can write off. Insane, look it up IRS.gov.

His claim to fame in this election cycle is that he is the best of the best business man in the world.
It appears that is not the case.
Although he may have the best of the best CPAs working for him.

well, it's not like he slaved in his mother's basement and risked his last nickel striking out on his own.

You seem bright enough to be a zillionaire if you had his head start. Understand, I don't doubt his business acumen, but he ain't exactly a self made American success story.

Teedubya......he quoted a rawstory.com link and no mention?

And what do those other tax returns say ?

Trump emailed them to Hillary.

the most shocking part is that we are talking about a 25 year old tax return

It's all they gots.... It's all they gots...

You Bassard..!!

not at all. I was replying to the implication that he, like many successful business men, had failed several times before striking it rich. He was rich long before he ever failed

My point specifically was that he was not gambling with his last nickel as many self made successes had to do. He had a massive safety net. And this isn't sour grapes, just accuracy. My emotions about it are being misread.

I also said I do not question his business acumen. He is massively talented in business, attended some of the finest schools in the world and did well.

It is fair of you to say that he did not waste his opportunity, but I just don't accept a comparison to billionaires who started by tinkering in their garage, that's all.

Avoid taxes.
LOL!

Maybe if he re-hires Geithner to be secretary of treasury then the liberals will forgive him.


The tax codes are terrible.
But we can't fault the businesses who use them.

Blame the crooked politicians who put them in place, or elect people who will change them to something more straight forward.
Hint: it ain't Hillary.

Changing the tax law will not be an easy task. Accountants will be dead against making doing taxes any easier and most republicans are against change unless it cuts taxes for the rich and those that buy their votes..

Yeah. That's exactly what I said.

Shillery is bot and paid for by Wall St and Israel.
How much Hopey Changey do you think we are in for?

Thats penuts.
Try this one on for size.

https://prcnews.org/2016/08/04/pentagon-loses-6-5-trillion/

Dave (A.K.A. Homebrew)

wonder how much hilldogs buddy soros has lost in various years...

If he does I hope he releases his tax returns so we can see his brilliance and stuff.

Even better, he's going to Trump his taxes. He gets to write off the stuff that he donated to Obama and also everything that all of the other Obama donors donated as well. He's brilliant that way.

Here's the problems I see.

Politicians say rich people should pay more taxes, yet they're all rich and refuse to scrap the 700+ page IRS tax code which provides them with all kinds of loopholes so they don't pay taxes. That same tax code allows poor folks to either pay nothing, or in extreme cases actually get money from the earned income credit - having contributed nothing.

So the candle is burning at both ends for the middle class folks. Rich ain't paying, poor ain't paying... and we wonder why we're 19 trillion in debt.

Scrap the IRS and the tax code. Institute a 10% federal sales tax on anything that is not food/clothing. Nobody can lie, or cheat to get around it. No write offs, no loop holes.

Everyone pays 10%, including dope dealers and jagoffs working under the table. Rich people buy more stuff, more expensive stuff, and will pay more. People will have more disposable income because they won't be taxed on it.

It'll never happen. Why? Because the politicians will reject it, and claim it'll hurt the poor when in fact it'll hurt the rich by making them pay more and closing all their ways to cheat.

MACS... I used to think this was a good idea as well... But it doesn't quite fit to me (at least not at 10%)...
Now I can only speak to my own life and situation, but I can think through my life and habits, and compare when I was young to now. I earn 10x what I did in my early 20s... but my purchases are not 10x higher. The main increase over the past 20 years is my housing (first rent, then mortgage, then rent again)... I can tell you I pay 10x higher rent than I did in my 20s... but I'm not buying 10x more expensive stuff. Simply put, when you're at the higher end of the pay spectrum you will generally have a lower percentage of your total income go towards buying "stuff". That can be seen by saving rates. The very low income people (let's say 25k and lower) probably have 100% of their income going to buying things (we will assume for argument's sake that all these things are necessary) in this case, a 10% sales tax will tax those people 10% of their income (minus rent). When someone moves up a bit more and is able to save some money, let's say they save 5% of their income.... then they are spending 95% of their income , and only being taxed 10% on 95%. This will continue up the economic brackets.

Yes, after you get up out of the very poor this becomes attractive, because you're taxing people based on their frivolity. It's practically like they're voluntarily paying taxes. But at the bottom level of income, where the highest percentage of a person's wages is spent, and the highest percentage of that spending is on need based stuff (ie, buying kids clothing at WalMart instead of Neimann Marcus), those are the people who would be paying the highest taxes as a percentage of income.

And I'm pretty sure that even if we decided to screw them, 10% isn't going to cut it. Again, this is just from my personal experience... but my highest expense is rent, not things like food or clothing. If someone's willing to give me back the 15-20% I pay in taxes annually, I can tell you they aren't going to get that 15-20% back from me by taxing 10% on everything I've purchased over the year. I'd come out net ahead. ...

Loosely translated he means that rich people save a higher portion of their income than the poor and middle class. As a result that group would have a higher realized tax rate. Also, rich people would simply make those purchases overseas where it's not taxed.

Noobs...

New Hampshire has no tax on many things including liquor stores and many other items. They do have a hotel tax and tax restaurant purchases. North Conway is jammed with outlets and shoppers.