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We don't have the details, so we really don't know how this did or did not benefit him. I doubt Trump would pay more than absolutely necessary (neither would I)
Remember when Trump said during the debate "that makes me smart?" I think that was in response to his 1995 tax return in which he claimed depreciation of over $900 million which allowed him to avoid paying any taxes for the next 18 years.
Who is the journalist joined the show at the end? He is attributing lot of things to drug delaers, Russian oligarchy, mafia and lot of crap like disgruntled Hillary supporter. I am assuming that he has Pulitzer medal also. Why do they need to assume all these things because of some one made money. Until recent election, Trump is like lot of business man in America. There is no reason for Feds and IRS to turn a blind eye if he was doing all that crap for all those years.
Now that they've been proven wrong about Trump being a failed business man and not paying his "fair share", will they finally shut their mouths, or will they just come up with more demands? Or start another useless online petition?
Uh, he claimed to be worth $10 billion. $150 million earned is only 1.5% return. That is absolutely horrible. So he lied about his net worth. This also proves that he lied claiming he can't release his taxes due to audit. They aren't under audit.
So no, nobody will stop demanding his tax returns until we see where his money is coming from (hint: It's Russia).
She's no idiot. She must have done this for a reason. This small bit of information we saw shows he wrote off $100 million in losses. It also shows his actual tax would have only been 4% had he not added the AMT, something he wants to eliminate.
I hope he does. AMT was not indexed for inflation and as incomes climbed with inflation, more people in the middle class get hit with the ATM, middle class Americans would have had to pay it in 2012 but it got a temporary patch.
AMT, created in 1969 to prevent 155 wealthy taxpayers from using deductions and credits to avoid paying any federal income taxes. In other words if liberals would have used common sense then they would know he had to pay taxes even if it took AMT to do it. So how long has it been where liberals implied that he didn't pay any taxes?
Exactly. AMT is also part of the equation. Final amount paid is what matters.
Democrats and Liberals screeched that Trump didn't pay taxes. And remember when Harry Reid said Romney didn't pay taxes? Remember the Reid laughed about lying about it. Was he laughing because he got away with lying or was he laughing at Democrat supporters or both?
If Democrat supporters had understood tax code then they would know he had to pay taxes and they were being lied to instead they let the liberal media play them for fools.
We don't have the details, so we really don't know how this did or did not benefit him. However, I doubt Trump would have paid more than absolutely necessary (neither would I)
Remember when Trump said during the debate "that makes me smart?" I think that was in response to his 1995 tax return in which he claimed depreciation of over $900 million which allowed him to avoid paying any taxes for the next 18 years.
Line 21, Other Income/Loss -> That $100 million was his 2005 portion of the carry-forward loss from 1995. The "loophole" in question meant that instead of one year with $0 taxes on negative income and "business as usual" the next, he could apply that negative income as a "loss" over the course of numerous years.
3155840 * 0.35 = $11,045,419
Then subtract $25,937.50
$11,045,419 - $25,937.5 = $11,019,481.5 (rounds to $11,019,482)
Hence my "just over $11 million" figure. Ergo, I'm saying that the Alternative Minimum Tax did its jobs in "fairly" taxing Trump's accrued/retained wealth.
Interesting you decided to respond to that piece only....
Green energy led the globe installation in 2016 by the way.... with China and the US.... AND the US broke production records for oil and gas under Obama too by the way.... AND the petrochemical construction refining boom is winding down too.... Lots of petrochemical exports gonna happen.
What happened to that electricity rate jump due to renewable.....?
You'll lose arguing energy with me, trust me.
You think you're the only one in the energy biz? Please.
One clue that you may not be, though, is that you're crediting Obama with something he actually tried to impede, however fecklessly and unsuccessfully. While he implemented anti-fracking measures on federal lands, thus insuring that the U.S. taxpayer would not benefit from increased drilling and production thereon, he had absolutely nothing to do with the shale revolution that was occurring on private fee lands while he looked helplessly on.
Crediting Obama with any development in the oilpatch during his administration is like thanking the raving, disheveled homeless lunatic standing on the corner because the sun rose in the east.
Not only was Obama of no use whatsoever in forging the shale revolution miracle, but he actively sought to prevent the taxpayer from benefiting from it. You have yet to plausibly explain why you failed to mention this inalterable fact, however.
As to renewable energy, it's still a tiny part of the energy mix. I don't have anything against renewables, but I do know that every renewable energy source requires a surprising amount of conventional energy inputs; in some cases, enough to make the EROEI of the renewable energy source zero or even negative. For the most part, renewables are going to be dependent on the ready availability of crude oil, and natural gas (both as fuel sources and as material feedstocks) for their manufacture, transport, and, laughably, even operational backup. (Cloudy days play hell with solar generating stations, and calm days don't do anything for wind farms.) Heh, heh...heh, heh...
I hope he does. AMT was not indexed for inflation and as incomes climbed with inflation, more people in the middle class get hit with the ATM, middle class Americans would have had to pay it in 2012 but it got a temporary patch.
Agreed. AMT limits should have been recalculated per year. Why it has remained flat puzzles me.
Ha. Hell no. He should be forthcoming about his tax situation for every year of the past several years, especially since there are lots of questions still remaining. If he's truly clean and honest, then why wouldn't he release them?
+1
Indeed. I have more questions now than before.
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