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Why didn't Hiden Biden do anything about revising the Tax Code since he was a public servant for nearly fifty years? Because it benefited him financially?
I actually LOL'd. That's the best attempt at shifting blame to Biden?
Yes. It absolutely is a problem. Any significant debt is a deal breaker for holding a clearance. Also, who that debt is owed too is a factor. Holding a clearance and and getting classified briefings is one of the requirements of the highest office of the United States.
The Trump organization's tax returns are a different matter and might however show Russian connections. DJT should release them if he has nothing to hide.
They might also show his connections to aliens from Alpha Centauri. But either one is only likely in science fiction. Not in a actual world where tax returns are IRS forms.
1st thought: Does anyone believe anything NYT reports on anymore?
2nd thought: how did they get the tax returns?
3rd thought: so it begins...the demoKKKrats are now going to pull out all the stops to destroy Trump in any way they can (lie, cheat, steal: that is the demoKKKrats in a nutshell).
Seriously Trump is pouting online because Biden won't take a pee test before the debate and you are going to be outraged that the Democrats are coming after Trump for epitomizing the lifestyle of the rich and richer.
Despite President Trump's choice not to publish his tax returns, the New York Time has somehow obtained records supposedly of those returns. They have apparently released them publicly, without President Trump's permission.
My only surprise it took someone long as it did to release his tax returns legal or not. The bottom line is if Trump didn't have anything to hide, he would have released his tax records long before now. He knew that his tax returns were going to be a huge liability for his re-election, pushing off his critics by tell them he will release them after his audit is over, or other excuses in 2016 wasn't going to fly this time around.
While I knew about the one time tax write off from the casino losses allowed him to off set any profits he made years later, basically paying no income taxes for years. I wasn't aware of the fraud in his tax returns in later years. Like writing off the cost of his hair cuts. Seriously 70k for hair cuts a year? The average person gets there hair cut 6 times a year, even high priced hair stylist charge $800 a cut, at worse it should be under $5,000, not to mention you can hardly call personal haircuts a legitimate write-off.
This wasn't occasional losses. Corporation with balance sheets that show consistent losses for a few years are in bankruptcy, that's economics. This wasn't just a few years it was over 10 years of losses.
Although the article seems to indicate the losses are legitimate we have seen his father over inflate his losses and expenses.
But the point you were making was that his presidential disclosure was revealing, none of this was captured in his disclosure.
your are misunderstanding losses/gains
say on a normal year you make xx amount of income/profit and your normal tax bill is 5 million
but in (lets just use 20 years ago) 2000 due to what ever you end up having a major loss...100 million worth.....
what happens is that one loss of 100 million is worth 20 years of taxes...so they negate each other..... losses are carried over from year to year according to the IRS.... ( the Internal Revenue Service (IRS) allows businesses to carry net operating losses (NOL) forward 20 years to net against future profits or backwards two years for an immediate refund of previous taxes paid)
and this goes for ANYBODY... working poor, middleclass, semi-rich, rich, and filthy rich
so the NYT's spin of "OMG, trump didn't pay for 10 of 15 years"... is just that spin... more lefty lies (spin)
THat's why rich have foundations. Another tax dodge for some.
Flat tax for all, same rate. No deductions.
Trump knows his tax returns were eventually going to be an issue and it may ultimately go to the Supreme Court.
He also has sewed enough doubt in the election results (if they are not in his favor) to his supporters that the results will likely be contested and make its way to the Supreme court.
He also knows Republican packed branches of government will keep tax loop holes, reduce taxes on the wealthy and oppose anything that is considered liberal / progressive (i.e. closing tax loopholes and making the wealthy carry their load), even if it considered by most fair (i.e. a flat tax with no loopholes).
Trump is an opportunist and exploiter. He knows what he is doing and the big reason why he is packing the Supreme court with like minded individuals (some Republicans) and system in his favor.
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