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Thread: It is inappropriate.....

  1. #11
    Senior Member bae's Avatar
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    Quote Originally Posted by pinkytoe View Post
    The tax system as it is now is what allows all these manipulations to continue.
    What specific "manipulations"?

    I haven't fact checked it buy I believe many large corporations and wealthy individuals pay very little tax relative to their income.
    Gross income, or net income? What's the difference? Should there be one?

    The can also afford to pay clever tax attorneys to figure out how.
    I've been looking for 25 years for these magic "clever" tricks, and some years I have written checks to the IRS for 7 figure sums. Nobody I have found knows anything especially magically clever. What are the magic tricks?

  2. #12
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    I think that ultimately this will prove to be another in a long line of “bombshells” that failed to detonate. At this point, I believe most voters (the most partisan zealots excepted) will base their decision on his performance in office rather than his federal tax liability in 2014.

  3. #13
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    I remember reading once that Warren Buffett thought the tax system in the US was terrible because he paid less taxes than his secretary... based on all the loopholes in the tax laws.

    Do have to say that the one deduction trump took for $70,000 in one year for getting his hair done was a bit over the top.

  4. #14
    Senior Member bae's Avatar
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    Quote Originally Posted by frugal-one View Post
    I remember reading once that Warren Buffett thought the tax system in the US was terrible because he paid less taxes than his secretary... based on all the loopholes in the tax laws.
    Which loopholes?

    Do have to say that the one deduction trump took for $70,000 in one year for getting his hair done was a bit over the top.
    To you or me, sure. For an actor, doesn't seem out of line.

  5. #15
    Senior Member catherine's Avatar
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    Quote Originally Posted by frugal-one View Post
    I remember reading once that Warren Buffett thought the tax system in the US was terrible because he paid less taxes than his secretary... based on all the loopholes in the tax laws.
    I agree--it's really the tax code I object to. If Trump's filing is legal, it's legal. But it seems very unfair.
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  6. #16
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    Trump's debt is the bigger story, how is he gonna pay it, is it a conflict of interest between that and running the country well lol (sure seems a conflict of interest, perhaps even explaining why Trump does such a bad job of it, although there are plenty of other explanations for that).
    If you want something to get done, ask a busy person. If you want them to have a nervous breakdown that is.

  7. #17
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    I’m curious why he put off releasing them for so many years? Is it just his ego about carrying debt?

  8. #18
    Senior Member bae's Avatar
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    Quote Originally Posted by Tammy View Post
    I’m curious why he put off releasing them for so many years? Is it just his ego about carrying debt?
    I think it reveals the picture of a fellow who is just a grifter and inept huckster. I suspect this sort of detailed knowledge would interfere with his ability to "do deals" in the business world, and impact his "profits" and options in the future.

  9. #19
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    His whole gold-plated image is a house of cards. I agree that the important question is who he owes the four hundred twenty million dollars to. Attorney Andrew Weissman, of the Mueller probe, thinks it's the Russians. As Nancy Pelosi famously opined re Trump, "With him, all roads lead to Putin."

  10. #20
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    It's one thing if someone believes the government is inept, minimizes their tax liability, and then uses their wealth to help others through a foundation. Trump is the opposite. He used his charity to benefit himself, buy a fancy portrait of himself, etc.

    I would imagine Bloomberg tried to minimize his taxes, but he has actually put some of his money to good use, most recently paying off fines and restitution for ex offenders in Florida so they can vote.

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