2020 Politics Thread - Enter At Your Own Risk - RULES IN OP

[ballhawkdawk]

Originally Posted by Hootiefish

Just speaking for me, my interest in his taxes stems from the question of who is he financially beholden to? Who does Trump owe money to, and how may that impact the decisions he makes in office.

Not saying he does, but if he were to owe a substantial amount of money to businesses owned by a Russian oligarch, that may prove key to his interactions with that nation.

And it is not just Trump. I want the tax history of every member of Congress and the Supreme Court to be available. Financial ties can be extremely complex, and therefore we deserve to be able to pick apart those ties.

You make some valid points. My initial reaction is that this sounds like a great idea. I'd love for the elected officials in this country to be better people and role model citizens, but to me that's like wishing the NFL was a steroid free sport. Maybe, at a minimum, we can ensure they aren't indebted to any particular businesses to ensure they don't pull strings behind the scenes to help them out in their shady dealings. I'm just genuinely not sure if it's feasible for that level of transparency to be made public.

[trixstar]

Can’t wait for the rationale how this is actually a good thing.

[TheHeel]

Originally Posted by kerg

No one wants to pay more in taxes.

You want everyone else to pay more in taxes.

I want everyone to pay their fair share.

A man, who allegedly, makes millions, maybe billions, should pay more than $750 in taxes. I do not want to hear about his fabulous accountants because when it is reported that he wrote off 70k on hair stylists and 2 million on his primary residence even though he listed it as an investment, we all know that there is some kind of nefarious actions being done behind the scene.

A person making 24k at McDonalds should get a refund, not a grifter who has stiffed thousands of people and, allegedly, is a billionaire.

Let's hear the spin.

[cnewby]

back on the taxes again.

[TheHeel]

Originally Posted by trixstar

Can’t wait for the rationale how this is actually a good thing.

I am always hesitant on these things because they seem so unbelievable.

Then, I think nothing is really unbelievable with this Administration.

[NeedChapmans]

Originally Posted by trixstar

Can’t wait for the rationale how this is actually a good thing.

LOL.

When you figure out what Trump did to stop people from voting in 2016, you let me know!

[techtre2003]

Originally Posted by TheHeel

I want everyone to pay their fair share.

A man, who allegedly, makes millions, maybe billions, should pay more than $750 in taxes. I do not want to hear about his fabulous accountants because when it is reported that he wrote off 70k on hair stylists and 2 million on his primary residence even though he listed it as an investment, we all know that there is some kind of nefarious actions being done behind the scene.

A person making 24k at McDonalds should get a refund, not a grifter who has stiffed thousands of people and, allegedly, is a billionaire.

Let's hear the spin.

This is exactly why he never wanted his taxes released. People who don't do corporate taxes for a living have no idea how the system works. NYT put out very misleading information (like the $750 nonsense) and people believe it because they don't know any better and Dems jump on board right on cue. Heel, does it bother you that the Biden's set up S-Corps to funnel money through so they didn't have to pay SS and Medicare taxes on their book deals and appearances? Does it bother you that every other large corporation does the exact same thing? If you are bothered by it maybe you should look at why all these loopholes exist and maybe demand that ALL of these companies start paying their "fair share".

[Hootiefish]

Originally Posted by trixstar

Can’t wait for the rationale how this is actually a good thing.

This shouldn't surprise anyone considering that the "Southern Strategy" has been in effect in Republican politics for the last 50+ years.

[kerg]

Originally Posted by TheHeel

I want everyone to pay their fair share.

You want to get pissed at the overall tax code then have at it. If someone is using the tax code to their favor, I sure am not going to begrudge them. This sure isn't just Trump and his businesses and I'm sure there are a whole bunch of people across all the political spectrums/views that are playing the game.

[Jgil316]

Originally Posted by techtre2003

This is exactly why he never wanted his taxes released. People who don't do corporate taxes for a living have no idea how the system works. NYT put out very misleading information (like the $750 nonsense) and people believe it because they don't know any better and Dems jump on board right on cue. Heel, does it bother you that the Biden's set up S-Corps to funnel money through so they didn't have to pay SS and Medicare taxes on their book deals and appearances? Does it bother you that every other large corporation does the exact same thing? If you are bothered by it maybe you should look at why all these loopholes exist and maybe demand that ALL of these companies start paying their "fair share".

You do corporate taxes?

If you do - and believe writing off hair expenses - as well as consulting fees to your daughter - please tell me who you do taxes for, so I can avoid using your services.

[techtre2003]

Originally Posted by Jgil316

You do corporate taxes?

If you do - and believe writing off hair expenses - as well as consulting fees to your daughter - please tell me who you do taxes for, so I can avoid using your services.

I don't, do you? Can you tell me for sure it's illegal for a TV personality to write-off hair and makeup people? Can you show me where it's illegal for a family member to do consulting for you? The "bombshell" NYT report didn't mention any tax code where that was illegal, can you?

[Viking6]

Originally Posted by Jgil316

You do corporate taxes?

If you do - and believe writing off hair expenses - as well as consulting fees to your daughter - please tell me who you do taxes for, so I can avoid using your services.

I do corporate taxes...

None of this is illegal if done under the right circumstances.

He gets audited every year... You don't think they check this stuff?

[rcmb3220]

If there is anything interesting in the tax filings, it’s the loans he has in his name, not what he paid in taxes. And those loans probably aren’t interesting either.

[NeedChapmans]

Originally Posted by Hootiefish

This shouldn't surprise anyone considering that the "Southern Strategy" has been in effect in Republican politics for the last 50+ years.

Originally Posted by TheHeel

I am always hesitant on these things because they seem so unbelievable.

Then, I think nothing is really unbelievable with this Administration.

Originally Posted by trixstar

Can’t wait for the rationale how this is actually a good thing.

Well done Trix. The takeaway tomorrow when it is revealed that this is not a story will be "Yea, but it could have been real. That's the real story!"

[Jgil316]

Originally Posted by techtre2003

I don't, do you? Can you tell me for sure it's illegal for a TV personality to write-off hair and makeup people? Can you show me where it's illegal for a family member to do consulting for you? The "bombshell" NYT report didn't mention any tax code where that was illegal, can you?

Actually - in the tax code, you can expense certain items that pertain to your business (home office, internet, phone, pens, paper) however - it is only for a percentage.

Personal expenses can NOT be written off on taxes.
Consulting fees are an expense on the P&L and Balance sheet - what will you put consulting fees under to deduct from tax liability?
A business loss - which consulting is an expense......

Let's use an analogy, shall we?
Can you deduct a lawyer bill(s) from your tax liability so you do not have to pay taxes? The answer is NO, you can NOT

[lietuvalabas]

Originally Posted by Viking6

I do corporate taxes...

None of this is illegal if done under the right circumstances.

He gets audited every year... You don't think they check this stuff?

this right here. this should be the end of the conversation. this guy does this for a living. can't tell if hes on the right or left, and it doesn't matter. Just as it doesn't matter to our government, they don't care which side you are on, the only color that matters is green. So the lefties want to use this as ammo, but yeah you don't think the government would be all over him and this wouldn't have already made the news?

[pac213up]

I would be surprised if there was anything illegal in the tax returns. Not a great look if you are trying to speak to middle class Americans but at this point people have already made up their mind who they are voting for. Debates, tax returns, political hit pieces are not moving the needle. The election will be won or lost at this point by how the campaigns manage the ground game and the local grass root efforts to get people out to support the person they say they support.

[Jgil316]

Originally Posted by Viking6

I do corporate taxes...

None of this is illegal if done under the right circumstances.

He gets audited every year... You don't think they check this stuff?

I bolded the line that gives you the out - personal expenses are not tax deductible

[NeedChapmans]

Originally Posted by Jgil316

Actually - in the tax code, you can expense certain items that pertain to your business (home office, internet, phone, pens, paper) however - it is only for a percentage.

Personal expenses can NOT be written off on taxes.
Consulting fees are an expense on the P&L and Balance sheet - what will you put consulting fees under to deduct from tax liability?
A business loss - which consulting is an expense......

Let's use an analogy, shall we?
Can you deduct a lawyer bill(s) from your tax liability so you do not have to pay taxes? The answer is NO, you can NOT

In this corner, we have guy who typed in "corporates tax code" into Google five minutes ago. In this corner, we have an accountant, who files corporate taxes for a living.

Who will win this tax battle? Tune out now because you know the answer! (The man just actually"ied" to open his post about the tax code. AMAZING!)

[Jgil316]

Originally Posted by lietuvalabas

this right here. this should be the end of the conversation. this guy does this for a living. can't tell if hes on the right or left, and it doesn't matter. Just as it doesn't matter to our government, they don't care which side you are on, the only color that matters is green. So the lefties want to use this as ammo, but yeah you don't think the government would be all over him and this wouldn't have already made the news?

Let me get this straight...

Y'all believe since Trump uses an accounting firm that EVERYTHING he submitted for taxes and signed are 100% accurate??

Anyone remember Arthur Anderson (top 5 auditing and accounting firms in the world)

[Boo]

Originally Posted by NeedChapmans

In this corner, we have guy who typed in "corporates tax code" into Google five minutes ago. In this corner, we have an accountant, who files corporate taxes for a living.

Who will win this tax battle? Tune out now because you know the answer! (The man just actually"ied" to open his post about the tax code. AMAZING!)

You didn't know that jgil has all the backup info to go with the returns and has determined that they are illegal? That he knows more than accountants that work for the rich and famous? That he knows more than IRS agents?

[Jgil316]

Originally Posted by NeedChapmans

In this corner, we have guy who typed in "corporates tax code" into Google five minutes ago. In this corner, we have an accountant, who files corporate taxes for a living.

Who will win this tax battle? Tune out now because you know the answer! (The man just actually"ied" to open his post about the tax code. AMAZING!)

The tax guy above - would NOT allow personal expenses to be deducted from a company tax liability bill......

You made something into nothing - read his thread.

[Jgil316]

Originally Posted by Boo

You didn't know that jgil has all the backup info to go with the returns and has determined that they are illegal? That he knows more than accountants that work for the rich and famous? That he knows more than IRS agents?

I don't know more than an agent - what I know is what i work on daily - but hey!
You believe Trump and his spin doctors all day long

[Boo]

Originally Posted by Jgil316

I don't know more than an agent - what I know is what i work on daily - but hey!
You believe Trump and his spin doctors all day long

I believe what the IRS deems to be legal.

[Hootiefish]

Originally Posted by NeedChapmans

Well done Trix. The takeaway tomorrow when it is revealed that this is not a story will be "Yea, but it could have been real. That's the real story!"

My comment was more along the lines of "this isn't a huge deal because the Republican Party has been doing this - proudly and blatantly - for 50+ years."