Remember when Donald Trump told us that he wanted to share his personal tax returns with us, but that he couldn’t, because the IRS wouldn’t allow him to, seeing as how he was involved in an audit?
Well, it turns out that was yet another lie.
As we discovered earlier this evening, the reason that Donald Trump didn’t want his tax returns made public is because they show, among other things, that he’s deep in debt, with well over $300 million in personal loans coming due. [And, yes, this would seem to indicate that others could hold coercive leverage against him, just as many of us had suspected, making him a serious national security threat.] He also, according to reporting by the New York Times, spent $70,000 on “hair styling” in one year alone, appears to have funneled $747,622 in “consulting fees” to a company co-owned by his daughter Ivanka in order to decrease his personal liability, and paid no income tax at all in 10 of the last 15 years, in spite of having taken in an estimated $427.4 million from deals related to the reality television program in which he appeared, The Apprentice. In fact, the year he was elected President of the United States, Donald Trump only paid $750 in personal income tax.
I know that some of you in the audience — the Trump apologists — will read all of this and respond that it’s merely evidence of his brilliant business mind. I know it’s not likely to change your interpretation, but, before you leave a comment, I’d like for you consider the following quote from the New York Times analysis. “In many years,” the Times reported, “Mr. Trump lost more money than nearly any other individual American taxpayer.” Just let that sink in for a moment.
Donald Trump never was what he pretended to be. he was never anything but a conman who inherited a fortune, squandered it, and then begged, borrowed and stole to keep living the kind of life to which he’d become accustomed. And it’s all about to come crashing down around him.
Oh, and here, by the way, is what average Americans, like you and me, generally pay in personal income taxes each year, just to give you a sense as to where Donald Trump’s $750 falls on the continuum.
Teachers paid $7,239
Firefighters paid $5,283
Nurses paid $10,216Donald Trump paid $750 pic.twitter.com/5YE1cbYsBN
— Team Joe (Text JOE to 30330) (@TeamJoe) September 28, 2020
This has been a weird day. I don’t know to what extent any of this is connected, but I was also just reading that Trump’s former campaign manager, Brad Parscale, who still serves as a senior advisor to the campaign, was taken into custody a little while ago by Fort Lauderale Police after allegedly threatening to harm himself at his home… I could go on, but it’s time for bed. Here, before I go, though, is a little something from our friend Adam Schiff.
Trump lives a life of luxury, and lets working families pay the taxes.
The year he was elected, he paid $750 in income taxes.
No wonder his signature policy is cutting taxes for the wealthy and cutting healthcare for everyone else.
It’s who Trump is. It’s who he’s always been. https://t.co/0hCbzhllK1
— Adam Schiff (@RepAdamSchiff) September 27, 2020
November 3 cannot come soon enough.
82 Comments
God I hope Biden sticks a knife in him during the debate. He needs to show no mercy. Set him up for the epic meltdown that we all know is ready to explode. There’s plenty of low information voters who would jump ship at that point.
It will sway some GOP voters that aren’t cultists. But the lunatics, like the ones that comment here, will make up fantasies in their minds which discount the facts of this tax issue, just like they do regarding the facts of the COVID-19 death toll.
Must be nice to have dirty ruskie money backup your sham Deutsche Bank loan. His fealty to lil’ pootin is Treason. String him up.
The picture this paints of Trump is despicable. Even more so, it is an indictment of an American tax “system” (brought to you by thousands of corporate lobbyists and their “bipartisan” handmaidens) that essentially encourages the ultra-wealthy (those who have enough money to hire expert consultants to figure out how to game all the loopholes) to profit massively from what would otherwise be risky investments … since any “losses” can simply be written off.
Add to that the fact that most major corporations also effectively pay no taxes:
https://publicintegrity.org/inequality-poverty-opportunity/taxes/trumps-tax-cuts/you-paid-taxes-these-corporations-didnt/
But don’t worry … as Mark points out above, there are still plenty of hard-working Americans who are busting their asses every day for $10, $20, or $40/hour to make ends meet – while also paying much more than their fair share to support roads, schools, dams, environmental protection, food inspections, etc. – you know, the things we all depend on, and which make our society possible … so I guess everything is all good.
The NYT says the returns show debts but do not identify the lenders. Also, there was significant debt forgiveness, apparently without explanation. The identity of lenders seems relevant.
Demetrious, there are nearly 2 million who earn at or less than the Federal min. wage.
Federal Minimum
The federal minimum wage is $7.50 per hour as of 2015. Based on a 40-hour work week, this works out to an annual salary of $15,600. As of 2015 this would mean that a single filer would be paying 10 percent federal income tax on the first $9,075 and 15 percent on the remaining $6,525. That would mean paying $1,886.25 in federal taxes before deductions. A married couple in which only one partner works, for a total annual salary of $15,600, would be taxed at 10 percent, for a total tax of $1,560 before deductions. After taking the standard deduction an individual would probably owe approx. $1000 in income taxes.
So I guess Trump is our first minimum wage president.
Almost a quarter million have already voted in Wisconsin. I am hoping my ballot arrives today. I believe they began mailing them on Thursday.
Where are EOS, Frosty Flake, and the Whorelord? Are they sitting glued to the Q feed, waiting for their talking points about how the deep state is trying to take down Trump because he’s fighting a secret war to free child sex slaves? What a fucking joke.
Business involves risk and sometimes you lose. Compare to the ethics of influential politicians that you like who make many many millions in office.
wobblie, why run the risk of appearing disingenuous by using older numbers from 2015? Surely you are aware that the tax code was changed and while I am not in agreement with it, one of the good things about it was that the standard deduction was raised such that a couple where only one person works at minimum wage would not pay any income tax at all.
HW, when you compare the ethics of Donald Trump to the ethics of most others including rich people who are in office, the conclusion that sane people who understand facts is that DT is much worse than any of them. Since you are not sane and don’t have a good grasp of the difference between fact and opinion I don’t expect you to see things the same way.
https://twitter.com/2RawTooReal/status/1309200261496401920
Yawn, another bombshell revelation about Trump that won’t make any difference. His followers hate taxes and will probably admire him for not paying any.
Very substantial argument there Lynne. To paraphrase: “Waah waah waah!”
Lynne the standard deduction for a single person for 2020 is 12400. That leaves just over $3,000 in taxable income. My 2020 tax table show $3000 in taxable income owes $305 in income tax.
So Lynne, what is worse my exaggeration, or your assertion that a single min. wage earner would owe no taxes?
I am sorry Lynne, I stand corrected. Your assertion that a single min. wage income household of TWO would pay no taxes is correct since they would be able to claim 24800 as a standard deduction . My assertion that a single person would owe takes is also correct. I didn’t realize that you had chosen to change the point of reference.
So what did we learn about Trump from his tax returns? He is just normally corrupt like most super rich. No smoking Russiagate gun. His supporters will see this as just another nothing burger. The media keeps building up “revelations” as if there is really anything more to learn about this guy.
Trump says the story is fake. He says he has paid millions in taxes. What he does not say, it was taxes to other countries. In 2017, Trump paid $750 in federal taxes, but paid
—$15,598 in Panama
—$145,400 in India
—$156,824 in the Philippines
So much for America first
Vague Guy,
I think I have told you this before but I do not know anything about Qanon. If you don’t understand the hundreds of red flags around the Dems weaponization of the FBI and CIA for political purposes then I think you need to do a little bit more research. The red flags were there in the beginning. Nothing has brought any of those flags down. Now we have hundreds of red flags. Pretending otherwise just make you look stupid at this point.
“secret war to free child sex slaves”
There have been hundreds of children rescued in anti-trafficking operations during Trump’s presidency. That’s no secret. You not being capable of even reading about it in the news proves willful ignorance on this important topic.
I paid more taxes as a graduate student! My stipend was $18,000 when I first started graduate school!
My vote for Biden is a vote to indict Trump.
“Sick people have been denied access to routine health care in the name of covid.”
Dude, your president has repeatedly attempted to gut the ACA. People have lost access to health care, not because of covid, but because of the Republican Party. He’s been promising a new health insurance program for over four years and delivered nothing. This shit you say is absolutely insane. Please seek help.
The President has donated his salary every year he has been in office. He is losing money to work for us.
Just as a point of comparison.
Biden paid 3,743000 in US income taxes (Filed jointly with wife) in 2017 he made 15 million on a book deal. .
Harris 516000
Sanders 343000
Warren 268000
HW cant let reality interrupt his life
Trump’s Golf Trips Could Cost Taxpayers Over $340 Million
Eye popping tax bill
https://www.dailymail.co.uk/news/article-8778969/Trumps-tax-return-data-shows-paid-750-federal-income-taxes-year-won-presidency.html
“Between 2005 and 2008, he paid more than $70million to the IRS”
You wouldn’t take advantage of tax credits if you could? Unethical you think?
“He paid $1million in 2016 and 2017 for income taxes he ‘might owe’ but when he filed, it was washed away – most of the payments were rolled forward to cover taxes in future years.
He did it by applying $9.7million in business investment credits to reduce how much income tax he owed down to $750, the report claims.
Work it, HW!
You are making convincing arguments about his tax returns from 15 years ago…
He’s a great businessman. So great he keeps losing money and not paying taxes!
Very. Stable. Genius.
Like you.
If only there were even more people like you guys.
He loves America:
https://mobile.twitter.com/ava/status/1310597300918444032
Tax credits: they are a thing. If you are smart you use them; it’s true.
You are wrong. He is not a businessman now. He is on salary and donates it every year.
Obviously he pays when he has to. 70 million bucks says so with emphasis I’d say. No problem for the President or his supporters.
It’s terrible. What a blight on society. Why it’s probably caught up in the white supremacist origins of the post office! The motherfucker put $200 million into renovating a historic building while black people were being shot!
https://www.fastcompany.com/90557002/how-trump-exploits-historic-architecture-to-avoid-paying-taxes
How many years will it take for those on wobblie’s list to pay 70 mill TOGETHER? Several years, huh? Why is it so easy for me to deflate every puffed-up outrage?
Even with the power of establishment media and politicians driving your narrative it is a cinch to let the air out of your tires. This dynamic plays out every time. How could that be?
wobblie, FWIW, I agree with you about the tax burden on minimum wage workers. I was using a couple as an example because YOU were using a couple in your earlier example. Personally, I don’t like using single-earner couples as an example for this point because I know that those are few and far between since two people trying to live off of the wages of one full-time minimum wage job = deep poverty. It is still pretty bad that we tax single minimum wage workers though! I would like to see a system where those workers are not taxed unless the worker is being claimed as a dependent on someone else’s taxes!
Yes, HW, we KNOW that Trump is a corrupt free-loader whose supporters blindly follow him because they aren’t great thinkers. There is no need for you to keep proving it!
I am wondering where the Stormy Daniels hush money payments are recorded. Was it a business expense? Seems like that would be fraud.
n 2016, leading into the presidential vote, The New York Times released Donald Trump’s 1995 tax return. Trump, who had refused to release his tax records during the race, reported a loss of $916 million in 1995, which he was able to carry forward. The losses were on realized capital losses from investments in casinos, airline business ventures, and Manhattan property. The Times reported that this loss would allow him to avoid a federal tax of $50 million for up to 18 years.
In all my time doing business (45 years) it has always been a maxim that you needed to report a profit at least once every 5 or 6 years to avoid the IRS auditing your business–after all the business deduction is only allowed if you are investing in a business that you expect to make a profit in. Constantly reporting nothing but losses makes your business look like a money laundering operation. It sure looks to me that the Don is following that same tax advice.
CDC is reporting covid infections for children under 18 years old. Overall, 277,285 children have been infected through Sept. 19, 3,240 hospitalized (or 1.2 percent); 404 admitted to intensive care (0.1 percent); and 51 died (0.01 percent). I wonder what caused all the hospitalizations. Couldn’t have been that hoax virus could it HW? They must have died from ? Inquiring minds would like to know.
You mean they had one of those bogus positives, right? Until you can explain the policy to overdo the PCR cycles an unrealistic number of times you have a massive problem. All they are saying is they got a (phony) positive and died later. People of all ages die all the time and fifty one deaths isn’t very many.
HW could we just have a wrestling match to setttle it all once and for all?
Pretty soon it will be too cold to wear our tight little short shorts.
Tee hee
I ain’t no white trash piece of shit. I’m better than you all! I can out-learn you. I can out-read you. I can out-think you. And I can out-philosophize you. And I’m gonna outlast you. You think a couple whacks to my guts is gonna get me down? It’s gonna take a hell of a lot more than that, Counselor, to prove you’re better than me!
Where did Max Cady go?
Heard this factoid. White non college educated male voter registration. has increased by 46% Here in Michigan. Black non college educated male registration is only up 4%.
Seems like Trump is firing up his folks.
Maybe we are too hard on Trump: https://www.youtube.com/watch?v=8YFej3mjsis
I mean really… https://www.youtube.com/watch?v=5K5HQF22bQc
https://www.youtube.com/watch?v=timvZTKr5HQ
#Obamagate
Wobblie, wtf is up with Tulsi working with Project Veritas going after Ilhan Omar? Stooge or stupid racist? She’s evil too, got it?
Project Veritas uncovers ‘ballot harvesting fraud’ in Minnesota: Devine
https://nypost.com/2020/09/27/project-veritas-uncovers-ballot-harvesting-fraud-in-minnesota/
(From The New York Post)
Because she takes an independent position against “ballot harvesting” you decided she is against Ilhan Omar. It is this kind of stupid analysis that has had you running after one after another false Russiagate stories Like Lynne every time you make a statement you give people another reason to vote for Trump. Your stupid touting of guns, that has sure made people want to listen to your drivel. You blindly following the dictates of our elite masters. When do you start advocating going to war over Belerus? That next on the war agenda so it seems. It seems you need to get on the ball–kicking a has been like Tulsi only proves what a useless tool you are.
More interesting is Trump touting a rapid PCR test for all teachers for a hoax virus. What is up with that HW? Have you told the leader about your scientific findings?
You and John Brown should form a new group, Misinformation for fun and disruption.
It doesn’t matter what happens now. Trump won. I won. If Trump wins again, I win again. If Trump is cheated and loses, you still lost the first time, cheated the second time, so I still win, because you cheated. Losers!
HW winning while people die because of the leaders stupidity. MAGA
These stupid Doctors in Wisconsin just have not heard the news. The virus is a hoax.
https://www.wbay.com/2020/09/28/surge-in-covid-cases-close-to-overwhelming-local-hospitals/?fbclid=IwAR3OQOSaZYofQVHPJJT891IalnuWYP73j3sDSUYQIjkiQZ5Hq9QJUWLETuc
you and John Brown should get together to figure out how you are going to entertain us for the next 4 years–this schtic has grown pretty thin.
The thing about being working class, you know the fight is never over.
https://www.youtube.com/watch?v=zZsno6Vqw1Y
Citing Project Veritas as a legit source of information about anything isn’t enough of a tip off you’ve been had on Tulsi?
It should be obvious I did not write that. Using my name to frame me is about the weakest, most pathetic way to try to stop me from steamrolling you derps.
Video evidence = ‘Right Wing Attacks’
I’d say calling Project Veritas that is support for blatant illegal activity done to steal the election. Your TDS is so advanced you now openly support destroying our voting system with corruption.
JBro!
Thanks for sharing that video. It is a glimpse into your thinking. LOL. Basically you get at least some of your unsubstantiated opinions from a prepubescent kid who has processing issues and a peach fuzz mustache. Hahahaha! What were we supposed to take away from that video? Jesus.
I think Gabbard aligning herself with an organization like Project Veritas just reinforces the opinion of her integrity I already had. Let’s hope that her time has passed and she becomes increasingly irrelevant.
Omar has been making it habit to violate campaign laws. I’m sure there are many honest, law-abiding, Muslims in her district. One of them should be the U.S. Representative instead of her. She is disgracing everybody she supposedly represents. She’s looking stupid and corrupt.
When is Tulsi going to announce her third-party run for President, Lynne?
Lil clue-in for Q haters. Count the months (“done in 30”).
Mar 27 2018 23:45:17 (EST)
Anonymous ID: 4a2d44 No.815836
Mar 27 2018 23:43:29 (EST)
>>815814
Free Flynn
>>815836
Done in 30.
House cleaning.
WH secured.
Final stage.
Q
iRobert, she isn’t. At least she has THAT much integrity. She isn’t Trump or anything.
anybody else going to play the Matt Taibbi, Katie Halper debate drinking game? You have to tune in at 8:30 to get the rules.
https://www.youtube.com/watch?v=AljMWpJ8gZE
“It’s a mess, aint it Sheriff? If it aint it’ll do till a mess gets here.”
— points to Brian Williams for the apt Cormac McCarthy quotation in summation of the debate.
“Anonymous ID: 4a2d44 No.815836
Mar 27 2018 23:43:29 (EST)
>>815814
Free Flynn
>>815836
Done in 30.
House cleaning.
WH secured.
Final stage.
Q“
As Our Presidebt said during the debates re the proud boys instead of condemning them: ‘Stand by.’
He actually paid $1 million in 2016 and 4.2 million in 2017. If you only read the NYT story and not just the headline.
https://thepalmierireport.com/did-trump-actually-pay-millions-in-taxes-in-2017-and-2018/?fbclid=IwAR1kBTSqTd6-ZDxt88pLuRYoha3eWJ79ODGr-cPZXBlLWy02mEphs7hIKGw
$750 was the amount that he hadn’t paid in advance.
No EOS. He Filed for extension and paid $1 million and 4.7 million in advance but ‘most of that was cancelled out By tax credit carryovers (Losses) from previous Years, Leaving him owing $750 each year.’
Do you take your talking points straight from the Trump organization?
As to HW’s grand assertion about him sacrificing his presidential income (200k per year), it appears that he loses less money not running his business than he does running it so it’s still a net gain. All his income was leveraged off of a 600 million inheritance. If you have 600 million to start In the 80’s and are a real estate investor, you are going to make money just sitting on property. You have to work hard to lose the kind of money Trump has.
There is no comparison between the successes and failures of those with large inheritances and those without. Just like there is no comparison between the successes and failures of those with any form of inter generational wealth and those with inter generational poverty.
Hey proud boys..stand back and STAND BY – DJT
If that’s the kind of ‘reporting’ you read EOS, it explains a lot. $750 is the amount OWED not paid. Trump overpaid and will get credits for following years taxes. He obviously did this for political reasons. The treasury is simply a savings account for him. He didn’t even owe $750. He had millions in tax credits he could have taken but paid the $750 for appearances sake.
The NYT clip shown in that original tweet makes all of this clear, but the blinders of Trump followers makes them twist reality and believe all sorts of ridiculous shit even when the correct information is right in front of them.
What do you think of your fearless leader’s performance last night, EOS? FF? HW?
The kind of reporting I read was the NYT. I have to agree, not the iconic paper it once was.
The debate last night was ugly, but Trump accomplished what he needed to do. Got Biden to reject single payer healthcare, the Green New Deal, law and order and wouldn’t answer questions about packing the court. Best line – Trump has accomplished more in 47 months than Biden has in 47 years.
Biden told us last night that he would shut down the entire country and raise taxes on every American.
Who wants to vote for that?
EOS– You read the Palmer report which quoted a tweet which quoted the NYT which in fact reported the situation accurately. And now you refuse to acknowledge that your interpretation and that of the link you provided (NOT the NYT) was inaccurate– at best.
You are a corrupted human being. Dishonest too.
C’mon EOS. Just write it, “I was wrong.” How hard is it really? If you can’t admit to being wrong even when the proof is all right in front of you, what does that mean for the integrity of your thinking, of you capacity to learn and grow? What does it mean about the integrity of your Christianity?
No. You willfully misinterpret using tax credits to pay taxes owed as not paying taxes. $9.7 million in business investment credits represents the employment of a large number of persons who pay taxes on their income. It represents property improvements which increase future tax liabilities. It’s too bad you don’t comprehend simple economics. I wouldn’t call you dishonest, just ignorant.
EOS– we all use tax credits. Know of no person that declares the taxes they paid as the amount they owe before deductions.
You, as always, are full of shit.
“Antifa is an idea, not an organization.”
Ideas don’t kill people or cause millions of dollars of property damage.
So do you think Biden did well last night?
PS I have been an employer and work for many businesses who are employers and think I understand how the tax code around businesses fairly well.
I definitely understand the difference between a Corporate income tax statement and a personal income tax statement. Do you?
Who has caused more violence? The Proud Boys or those rich college kids on the West Coast? Not even close.
I think Trump’s finances are significantly more complicated than those of a party store owner.
Biden did fine given the circumstances. He didn’t have to do well. He had to do less terribly.
What Trump presented to the US public last night was not going to encourage anyone in the suburbs or anywhere to vote for him. (Ok the Proud Boys were super pumped) His existing committed supporters like you can see no wrong in him. The rest of us saw the least presidential performance ever. EVER. What a fucking embarassment.
Had he conducted himself with any composure, he might have won. He had been coached for weeks and had been primed with some salient points and some points that were bullshit but politically effective (like the Antifa nonsense), but he was so obsessed with getting them out that he just constantly yelled them over people and in contexts that were completely misplaced. His aspect was that of an 8 year old in desperate need of attention. Reagan used to debate well and he always avoided the questions and got his talking points in and no one noticed. (well I did; it drove me nuts…) Trump did not do that. He tried. But failed utterly. It was really a fiasco of the highest order.
I really wish there had been a camera on the debate audience members. I would pay $$ to see that.
I hope they do it again and again. That will assure Biden a victory.
https://www.opb.org/news/article/patriot-prayer-proud-boys-political-violence-law-enforcement/
EOS– His personal income taxes are not terribly complicated. In fact a small business owner who does not file a corporate tax return and has some personal stock investments likely has a more complicated PERSONAL tax return.
The NYT was reporting on his personal tax returns, not corporate. For more information on his overall financial situation and malfeasance I suggest readingDavid Cay Johnston regularly.
JH, Republicans have a really hard time telling the difference between corporations and human beings, so EOS/s confusion is understandable. It is a common mistake that our Supreme Court regularly makes, so don’t hold it against EOS
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[…] it,” he continues, apparently oblivious to the fact that not everyone who contributes their $750 a year in taxes, has the ability to be airlifted to a private wing of Walter Reed military hospital, and receive […]