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One of the politicians he backed that were giving him favors was Hillary. Do you have a problem that he spent the money? Or a problem that he was able to spend the money with politicians who were dirty enough to take money and perform favors? Personally I have the problem with the politicians taking money to return favors.
1995 the GDP was expanding at 2.5% that is not good, especially when new competitors are allowed to open closer to your largest clients bases.
Who said that anybody wants to lose money? Trying to twist my words as you know what I said was true, most entrepreneurs lose money on business at times. Anybody in business understands that, and if they don't they are not in business for long.
The 1990's was one of the best decades on record, GDP of around 4% but yes the year of his return was 2.5%. His declared loss should undermine his claim as a great businessman but then I don't see that any of this would matter to Trump supporters.
Strip away the Dems demagoguery and hypocrisy and what is remaining? Mr Trump and his tax advisors utilized the various provisions of the tax code. The tax code is available to all. Many provisions for the middle class do not even require an advisor.
The tax breaks he took are only available to the rich. The middle class doesn't need 'advisors' because the tax breaks they are offered are very limited. Do you think you or I can get a tax break if we sell our house as a loss, or that we can deduct our expenses for commuting to work? But Trump can deduct his jet and get the Government to pay him for the Secret Service agents who fly on it.
Trump had a chance to get out in front of this, he could have condemned a tax code that allowed him to benefit as he did and proposed a tax plan that would be more fair to those of us who work for a living, but what did he do? He doubled down and suggests more tax breaks for the rich. He's a hypocrite and IMO wants to game the American people just like he's gamed the system and all the people who have worked for him for decades.
The tax breaks he took are only available to the rich.
That's actually not true. Anyone who suffers a documented loss can deduct that on their tax return. For example, that frequently happens to the middle class in tornado alley after a tornado strike.
The 1990's was one of the best decades on record, GDP of around 4% but yes the year of his return was 2.5%. His declared loss should undermine his claim as a great businessman but then I don't see that any of this would matter to Trump supporters.
Just because the decade was good does not mean that every industry was thriving, do some research on the casino industry and the airline industry in the 90s. You know back when airlines were going bankrupt left and right, and indian casinos were popping up throughout the country causing major issues in Vegas and NJ, a bad year was not only bad for Trump it was bad for companies throughout both industries.
The tax breaks he took are only available to the rich. The middle class doesn't need 'advisors' because the tax breaks they are offered are very limited. Do you think you or I can get a tax break if we sell our house as a loss, or that we can deduct our expenses for commuting to work? But Trump can deduct his jet and get the Government to pay him for the Secret Service agents who fly on it.
Trump had a chance to get out in front of this, he could have condemned a tax code that allowed him to benefit as he did and proposed a tax plan that would be more fair to those of us who work for a living, but what did he do? He doubled down and suggests more tax breaks for the rich. He's a hypocrite and IMO wants to game the American people just like he's gamed the system and all the people who have worked for him for decades.
That is untrue, if you have the money to invest in a jet than you can write it off as well. If you run for president the government will pay for secret service for you as well. I you have a business loss you can write it off, if you have rental property you can write off your losses, every thing Trump used is available to all of us, you just seem mad that you do not have the money to take advantage of the losses.
Warren Buffett could pay himself $50,000 a year, pay almost no tax, and still live like a billionaire. We tax income, not wealth. All of his business travel and expenses would be deductible by Berkshire.
We don't know if Trump paid zero or a billion and we don't know if he declared bankruptcy or one of his companies under Trump Enterprises declared. We don't know if he paid himself a billion or paid himself just enough to cover his living expenses (probably a few million). What we do know is that he's been audited dozens of times, apparently without issue.
Warren Buffett could pay himself $50,000 a year, pay almost no tax, and still live like a billionaire. We tax income, not wealth. All of his business travel and expenses would be deductible by Berkshire.
We don't know if Trump paid zero or a billion and we don't know if he declared bankruptcy or one of his companies under Trump Enterprises declared. We don't know if he paid himself a billion or paid himself just enough to cover his living expenses (probably a few million). What we do know is that he's been audited dozens of times, apparently without issue.
Yep, all these Adam Smith "invisible hand" worshipers never talk about his opinion of direct taxes on labor.
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