This bastard is so dirty. Let’s just get by this election and consign this grifter to oblivion.
I so hope that his house of cards collapses after the election and he’s left to hawk juicers on late night infomercials.
Am I missing something here in these tax write offs. trump complains we have the highest corporate tax in the world but if all corporations do the same as he does they pay no tax at all. Screw him and that bald headed idiot ex mayor for calling him a genius.
And I hope he takes his three eldest spawn with him.
I still find it strange that people seem to just now be discovering what New Yorkers have known for decades — the man is a fraud.
We know he uses S corporations, he said so in a deposition that was released. I forget where, but I definitely saw that in an excerpt from a deposition.
For the most part, this is just mental masturbation. What Trump’s accountant engineered for him was almost certainly legal at the time. If it hadn’t been, the IRS would have been on him like stink on shit long before now. But that’s not the point.
The point is that the average working stiff sees a supposed billionaire losing a boatload of money (“some genius!”) and not paying income taxes for decades. The fact that it may have been clever and legal doesn’t impress him - he’s impressed with the understanding that he couldn’t lose that kind of money if he tried, and with the realization that he’s shelling out to the IRS every year, while this rich guy isn’t. It doesn’t sit well.
He says we won’t see him again if he loses. Let’s only hope. I never want to see his fat, ugly, orange anus-mouthed face ever again. You hear that NBC, CBS, and ABC, the greatest enablers of all time? NEVER again.
One interesting item is the fact that HRC voted to close the loophole in 2002, how contentious was the vote and was it part of the Bankruptcy reform act? If it was there probably was some debate on the details of the issue they were trying to fix.
But he’s on telly-vission. Everyone knows those are the realest, most byoootiful people there are.
@misterneutron: “The point is that the average working stiff sees a supposed billionaire losing a boatload of money (“some genius!”) and not paying income taxes for decades. The fact that it may have been clever and legal doesn’t impress him - he’s impressed with the understanding that he couldn’t lose that kind of money if he tried, and with the realization that he’s shelling out to the IRS every year, while this rich guy isn’t. It doesn’t sit well.”
Which gives me the godawful willies every time I talk to the idiot sitting next to me who thinks HOTOG is the greatest thing since sliced pumpkin bread. When are these dipshits going to realize that they are not rich, are never going to be rich, and won’t even know people who are rich on 1/1000ths of the scale that he claims to be, and that those people are out to screw them through mechanisms just like this?
S-corporations don’t pay corporate taxes. They’re treated like partnerships for tax purpose and the income and losses and deductions and credits flow straight through the corporation and onto the owners’ returns where they are taxed as income, some as ordinary income, some as capital gains income though the latter entails some complicated wrinkles.
C corporations pay corporate taxes. Every publicly traded corporation is a C corp. Indeed, every corporation is a C Corp when its born and only becomes an S-corp if the shareholders elect to seek S-corp treatment. Which involves some tradeoffs: only one class of stock is allowed, the number of shareholders is limited, non-humans are not allowed to on S-corp stock and if you screw up in one of several ways, the S corp can involuntarily convert back to a C and suddenly it owes a bunch of tax. But you have to be exceptionally stupid to do that.
Hey, I lived in Texas in 2000, and tried to warn people that GW Bush was also a fraud, but no one would listen. He was running as a guy who was bi-partisan, with the experience of running the country’s 2nd largest state. The fact is, after the civil war, whites in Texas knew the Union was going to let blacks vote. So they designed a state government where the governor had NO power. The Lt Governor was, and still is the most powerful politician, and he was a Democrat who liked Bush. He was likable, but dumb. Bill Hobby basically told Bush when to shut up and where to sign and made him look good. Karl Rove took that and tricked America, and the world-wide devastation of the economy and the mess in the middle east are the result.
So the lesson is, Listen to the New Yorkers who know Trump best.
Through a stroke of luck he has benefited for almost 20 years in which he pays no federal income tax – which put him is a very advantageous position almost no one else is accorded – at least not to the tune of a Billion dollars. But instead of feeling grateful for not only skirting his debt and being rewarded for it – he feels perfectly entitled. And then he goes on to demagogue politically about supposed free-loading, tax-cheating others. The man is every bit the sociopathic PIG as a Madoff – regardless if he technically didn’t break the law. He broke the social contract in which everyone should be treated fairly under the law and then flouts its as “genius.” He doesn’t give a flying shit about his feckless supporters – he’s running for president to swindle them and everyone else. His proposed tax policies are clearly designed to enrich his own business and heirs and pretends he’s doing it out of the goodness of his heart.
Agreed. I do think tying this to the entire GOP platform that corps should pay less in taxes has legs.
I sure do love the Hillary ad showing her advocacy of children throughout her career.
Playing quite a bit lately.
If the S corporation in question was insolvent, wouldn’t there be a chapter 7 filing for it?
Meanwhile, I’m still wondering whether he did get to shelter a billion dollars of income from taxes or merely tried to. As I understand it, the leaked documents are from the filing side, and don’t necessarily represent the final result after IRS audit and decision. So it could be that he tried to take a deduction and got slapped down hard (and didn’t challenge the ruling, because if he did we’d see a Tax Court docket). For Trump, of course, that would be an absolute reason to keep his returns secret, because otherwise he’d be revealed as the Biggest Loser to the IRS.
It would be ironic if what he’s trying to hide is that he only got to take a few dozen million dollars in losses, but he still hasn’t paid any taxes since then because his actual income is so piddling by rich-person standards.
I would personally love to see them all have to deal with the fact that his ego pissed away any shred of value in their “brand” and all of them have to, for the first time in their lives, actually work for a living. Running one or more of daddy’s sham businesses does not count as work, in my opinion.
They each got a gold-plated diploma, so they should have to take all the bogus Trump-related things off their resumés and start putting in job applications. If I was CEO of anything I would not even momentarily entertain hiring someone I know to be part of a crime family, but maybe someone will give them a chance.
Eric Trump = Odo from Deep Space Nine. The likeness is chilling.
A man who wants to brag about how clever his tax returns are still refuses to show us his tax returns. What does that suggest? And does anyone really believe this late in the game that Donald Trump is a truthful man, or honest with the public about his finances?
At this stage — it feels bizarre to say it — there’s no doubt in my mind that Richard Nixon was a more honest man than Donald Trump.