NYT acquires 1995 Trump tax return; he deducted $916 million in business losses

[JerryArkansas]

So Donald is a leech on the system.  Colour me supprised.

[Seriously?]

I see Seriously got his talking points from Trump Tower and immediately got into work.

Sorry, I don't need talking points to discuss common sense.

Any single taxpayer that has ever used H&R Block to find as many deductions as possible is just as "guilty" as Trump is here. I can never, ever, ever malign someone for legally using the tax code to pay as little as posisble to the government.

Maybe you liberals want to pay as much tax as possible, but I for one do not. If you do, you are more than welcome to voluntarily write a check to the IRS.

This is an interesting case of small reference pools for our friend Seriously. I'm sure in his ideological and socioeconomic circles, it would be seen as a major victory to not pay tax. Indeed, the idea of never having to part with a single cent is an aspirational idea, something to be emulated. Of course, if they stepped out of their safe space, they'd realise that the actual working people of America, rather than desperately wishing they could be as selfish as the Trumps of the world; simply want these elite figures to simply be less misers and pay what is fair so they can raise their children in a more egalitarian society.

In just about every social circle, it's a major victory not to pay tax. Anyone that uses H&R Block, Turbo Tax and every other preparer organization promises your "maximum refund" or your money back.

Local elections are won or lost based on keeping property taxes down.

No one wants to pay more in taxes, but if you do, ClintonianCake, I can get you the address to write a personal check to the IRS, just because you are well off enough to do so and I suggest that those in your social circle follow their principles and do the same thing.

[rafta_rafta]

In just about every social circle, it's a major victory not to pay tax. Anyone that uses H&R Block, Turbo Tax and every other preparer organization promises your "maximum refund" or your money back.

Local elections are won or lost based on keeping property taxes down.

No one wants to pay more in taxes, but if you do, ClintonianCake, I can get you the address to write a personal check to the IRS, just because you are well off enough to do so and I suggest that those in your social circle follow their principles and do the same thing.

That's a ridiculous argument. Yes, no one likes to pay tax and would love to pay as low a tax as possible.

However people above the poverty line still end up paying taxes because it's the law. The notion that a billionaire is able to get away with paying zero tax for decades is not going to play well voters because these avenues of claiming loss and carrying them forward are not available to every day people.

Heck, Trump has himself complained about hedge fund managers pay no taxes despite huge profits

[🦀🎂🦀🎂]

Why would I pay tax? Look at my avatar you loser.

Anyway, if you don't understand the vast majority of people are decent human beings who care about those below them on the socioeconomic ladder, and can't stand when people in the super-rich category seem to evade any obligation towards the little people, well, get bent tbh. Nobody likes paying for things. Maybe I don't like paying for groceries, and so I decide that I should shoplift all my goods from now on? No, I don't because if everybody felt that way the grocery shop would collapse.

I'll repeat:

People
Don't
Like
Wealthy
People
Who
Avoid
Taxes

[Seriously?]

Anyway, if you don't understand the vast majority of people are decent human beings who care about those below them on the socioeconomic ladder, and can't stand when people in the super-rich category seem to evade any obligation towards the little people, well, get bent tbh. Nobody likes paying for things. Maybe I don't like paying for groceries, and so I decide that I should shoplift all my goods from now on? No, I don't because if everybody felt that way the grocery shop would collapse.

You're still welcome to contribute to our treasury, if you'd like. I'll get you the address.

With that said, no one avoided taxes here. This was all legal. The reason the loophole likely existed was to spur a downtrodden economy and get developers developing again. The likely law in question, which did not treat forgiven loans as taxable income was passed by A DEMOCRAT House and A DEMOCRAT Senate and signed into law by a DEMOCRAT President.

Take your moral outrage to Bill Clinton, Robert "KKK" Byrd and Tom Foley. They're the ones that allowed this.

[🦀🎂🦀🎂]

but it's legal!!!

that doesn't matter. What maters is what the ordinary man and woman reading this story is going to say. You, like other true believers, think "what a clever man! sure showed those IRS losers!"

This is an atypical reaction, I'm afraid.

[ProudModerate2]

Those losses were allowed to be recognized over subsequent years for valid reasons of recapitalization. If you don't allow that kind of deductions, you may have developers not developing and building things. As a result, you get stagnation.

LOL.
You can tell Seriously is just cutting and pasting trump jargon.
He is trying really hard to sound like he knows what he is talking about, but he is fooling no one but himself.
This quote above I found most amusing : "for valid reasons of recapitalization."
What does an NOL carryover have to do with "recapitalization" ?
And these carryover deductions is a silly argument to make in where it may hinder "developers not developing and building things," and the possibility that you might get "stagnation."
What a horse-sh**t line of crap !
LMAO.

[Landslide Lyndon]

With that said, no one avoided taxes here. This was all legal.

So is picketing dead soldiers' funerals but no decent human would vote Fred Phelps even for dogcatcher.

[ProudModerate2]

Second is he's actually a crappy businessman.

2) Is Warren Buffett a "crappy businessman?" He lost $2 billion on Wells Fargo last week.

trump losses come from his ridiculous, lousy and ignorant decisions to invest/build huge Atlantic City casinos and creating some stupid Trump airline, a business he knew absolutely nothing about.
These were direct investments in hard assets or the creation of hard assets (buildings, planes, etc).

Warren Buffett's loss on his stock in Wells Fargo comes entirely from the value of the stock going down. That I am aware of, he has not sold any of his Wells Fargo shares, so this is not a actual loss that would/could be reported on his income taxes.
So it is only a temporary "paper loss," where the value of the shares may once again increase. A loss of 2 billion is not reportable for income tax purposes unless Buffett actually sells the shares in the open market.

So for you, Seriously, to compare the two (trump vs Buffett) is ridiculous. They are two different "losses" entirely.
So in your own words and right back on you : "As always, the plain ignorance from (Seriously) on this forum is just staggering."

[Seriously?]

Where's the outrage, red avatars? Pay your "fair share" New York Times.

Pot... Meet Kettle.

You must be logged in to read this quote.

Source: http://www.forbes.com/sites/jeffreydorfman/2016/01/31/new-york-times-hypocrisy-on-corporate-taxes-reaches-record-high/#19407c657754

[Representative simossad]

The New York Times are not running for president.

[Ebsy]

The New York Times is not a person nor is it running for President of the United States. Try again.

[H.E. VOLODYMYR ZELENKSYY]

Arthur Ochs Sulzberger isn't running for President or pretending he's the champion of the lower classes.

[dspNY]

Where's the outrage, red avatars? Pay your "fair share" New York Times.

Pot... Meet Kettle.

You must be logged in to read this quote.

Source: http://www.forbes.com/sites/jeffreydorfman/2016/01/31/new-york-times-hypocrisy-on-corporate-taxes-reaches-record-high/#19407c657754

Always attacking the messenger. Did Kellyanne give you that ridiculous piece of spin?

[ProudModerate2]

LOL.
Serioulsy is trying to compare trump (a presidential candidate) to a newspaper/media company.
Hilarious.

PS: Mr Seriously,
I suggest you go back and flood our forum with your ridiculous articles you find on "The Canary."
You might have a better chance with those.

[GeorgiaModerate]

The Times prints news.  Trump's taxes are news.  He made them so himself by his refusal to release his returns. 

[BlueSwan]

The New York Times is not a person nor is it running for President of the United States. Try again.

[Landslide Lyndon]

Seriously needs to disclose whether he is a paid operative of Trump's campaign or otherwise be banned ASAP.

[Coolface Sock #42069]

Yeah, they don't seem to really have standing to criticize anyone for not paying any taxes.

[Seriously?]

Arthur Ochs Sulzberger isn't running for President or pretending he's the champion of the lower classes.

You mean Carlos Slim?

[Seriously?]

Seriously needs to disclose whether he is a paid operative of Trump's campaign or otherwise be banned ASAP.

I don't get paid by Trump. If I did, I sure as hell wouldn't be posting polls on the poll board regardless of who is in the lead and by what margin. Think about that.

Thanks for the compliment though.

[Hermit For Peace]

Giuliani thinks Trump is a "genius".

Well, that may be so, in the business realm.

But when you are running for President, this latest information simply looks wrong from all angles.

Trump followers can spin this any way they want, and they will, but Trump needs to stay in his own realm and stay out of politics where he doesn't belong. Stay in the realm where paying no taxes and having catastrophic monetary business losses is admired and cheered.

Period.

[Virginiá]

Yeah, they don't seem to really have standing to criticize anyone for not paying any taxes.

It's not even relevant. People can bitch at the NYT too, but it doesn't change what Trump did.

[Maxwell]

I'm agreeing with others saying NY times is reporting news about a presidential candidate. I don't think it particularly matters what the NY times do themselves.

[Interlocutor is just not there yet]

This thread has been a lot easier to read when Seriously is put on ignore. When you do that, half of this thread is hidden