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Thread: Trump's Taxes

  1. #1
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    Trump's Taxes

    I see that after a hysterical build-up, Rachel Maddow brandished two pages stolen from Trump's 2005 return. He apparently paid $38 million on income of $150 million, and we were invited to be shocked by that revelation.

    If 25% of one's income isn't enough for the commonweal, what is sufficient?

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    Senior Member catherine's Avatar
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    I agree. It made him look like a socialist compared to the Helmsley's of the world. I don't feel I'm in a position to judge his tax return. God knows I'm not an accountant. This was kind of a non-issue for me, except for the fact that I guess I have to be satisfied with this little crumb of financial transparency.
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    Senior Member iris lilies's Avatar
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    He's not as smart with his taxes as the mainstream media kpet leading is to believe.what a disappointment. Another Donald fail.

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    Quote Originally Posted by iris lilies View Post
    He's not as smart with his taxes as the mainstream media kpet leading is to believe.what a disappointment. Another Donald fail.
    I hear the AMT got him. As smoking guns go, it doesn't seem all that damning. They should probably go back to trying to prove he's a Russian agent.

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    Senior Member Rogar's Avatar
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    From what I can tell from the news he would have "only" paid 5 million were it not for the AMT, which he wants to repeal. From my amateur perspective I can't see any big issues with his returns. It's better than Mitt's effective tax rate of 14%. However, I can see a strong case made to protect the AMT from repeal. I'm just swagging it, but without the AMT it would have made his effective tax rate closer to 10% or less?

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    2 pages aren't even the whole thing right? 2 pages are just the 1040 without a single other form, so can't be. So it's incomplete information. True though there might be no there there with Trump tax returns but it would kind of help to actually have adequate information before saying so.

    The tax rate probably isn't that much different from what Joe Schmoe is paying when you figure he is paying payroll taxes as well etc., lots of taxes on working after all (20% at minimum). The AMT is a real mess and I'm with Trump on repeal of that. Mostly because taxes have become too complex, too complex for tax software, too complex for an accountant anyone who isn't rich can afford (not a problem Trump has) etc.. His tax rate being only 10% or less without the AMT really just makes the case for repealing most deductions IMO. Cap out dependents and don't allow any other deductions at all except maybe health care (yea U.S. healthcare system bankrupts people right and left and unless we are going to get something better and we aren't now, at least that provides some help). Tax income the same regardless of source.

    OR EVEN making the AMT the ONLY tax system *might* make sense. Two tax systems become too complex for trying to figure out with tax software etc.. One decent alternative they do in some places if for the government to just send you a tax bill of what you owe, I might not love the bill, but oh how I would long for the ease of that compared to our current accountant enrichment system.
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    I am much more interested in his tax returns from the last 2 or 3 years...2005? Who cares?

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    Simpleton Alan's Avatar
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    Quote Originally Posted by LDAHL View Post
    I see that after a hysterical build-up, Rachel Maddow brandished two pages stolen from Trump's 2005 return. He apparently paid $38 million on income of $150 million, and we were invited to be shocked by that revelation.
    On the bright side, Geraldo Rivera no longer holds the record for most media buildup with nothing to show for his Al Capone's vault story.
    "Things should be made as simple as possible, but not one bit simpler." ~ Albert Einstein

  9. #9
    Senior Member CathyA's Avatar
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    In this administration, how can we believe anything? And I agree with nswef........what good is info from 12 years ago?

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    the only thing interesting if it existed, and it would probably be in the last few years, would be quid pro quo. Who is paying Trump off afterall? And it might not be able to be found in a total of 2 pages. Russians, ha that's about the only conspiracy about Russians I'd actually believe, that Trump is bought and sold would be so in the nature of Trump that ... but yea not enough information now.
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