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A loophole is when one finds a trick to use a deduction or tax break for purposes it was not intended for. The example I gave you should help you to understand. ( Not fully finishing a building to avoid paying tax.)
This is not rocket science. I am surprised you have trouble understanding this.
If I was him I'd expand the 12% bracket and make it go closer to 50K while keeping the 40% bracket in place for people who make more than say 750K... or raise the capital gains tax rate so it's same as income tax above a certain level. Too many CEOs make so much money from stock options, etc.
If I was him I'd expand the 12% bracket and make it go closer to 50K while keeping the 40% bracket in place for people who make more than say 750K... or raise the capital gains tax rate so it's same as income tax above a certain level. Too many CEOs make so much money from stock options, etc.
But you are not him. His cuts for taxes favor the rich and the middle class loses yet again
So the 1% to 3% will pay no taxes and 95% of americans taxes will go up $1000 to $7000 wow. How do he plan to pay for everything he wants to do experts have crunched then numbers his tax plan will cost 7 trillion to 10trillion. His tax plan make Bush tax cuts look like nothing Trump biggest con job in history he said he was going to help americans well he is not gonna do jack for the people that voted for him. The people who voted for Trump wanted more like a Bernie Sanders style future well we get more like a Ted Cruz future cut everything under the sun and trickle down economics his her to stay.
"A family earning between $40,000 and $50,000 a year would get a tax cut of only $560 and millions of middle-class working families will see their tax bills rise under Trump's plan — especially single-parent families."
"If you look at the most wealthy, the top 1 percent would get about half of the benefits of his tax cuts, and a millionaire for example would get an average tax cut of $317,000."
Mr. President-elect Trump immediately forgot about those folks once he gained their confidence enough to ensure their vote, it's what all Con Artists do. Exploit the worst characteristics of human nature to gain confidence, then pull off the scam on the unsuspecting marks. Analogous to the fraud & racketeering he pulled off in the Trump University fiasco.
Last edited by ChiGeekGuest; 11-15-2016 at 04:43 AM..
Not a spell...a demonic possession or.........too embarrassed and lack the integrity to admit that they have been swindled by a guy that has been showing everyone who and what he is for years.
Agree. Mr. President-elect Trump HAS been showing who & what he is for years, especially if you're familiar or lived in NY.
America will have its first 'Shock-jock' President.
Last edited by ChiGeekGuest; 11-15-2016 at 04:59 AM..
So, essentially when our pathetic lawmakers write a crappy deduction that isn't used how they want, it then becomes a loophole.
Do you believe being able to deduct loses is a loophole?
Essentially, Mr. President-elect Trump gets to re-define successful business practices by using bombastic rhetoric. To paraphrase his insult of Senator McCaine's military record:
Mr. Himself is a successful businessman/hero because he declared a $918 million loss? Personally, I prefer folks that haven't bungled almost a billion dollars, OK?
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Trump biggest con job in history he said he was going to help americans well he is not gonna do jack for the people that voted for him. The people who voted for Trump wanted more like a Bernie Sanders style future well we get more like a Ted Cruz future cut everything under the sun and trickle down economics his her to stay.
