Current Events > Donald Trump paid only $750 in federal taxes in 2016 and 2017.

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Anteaterking
09/27/20 10:04:53 PM
#52:


whitelytning posted...
Maybe I'm jaded because I have some close friends that are tax attorneys but none of this is really surprising or wrong. It makes sense to try to lower ones tax liability. So as long as it's legal is kind if a meh for me.

"It's just smart to lower your tax liability" stops being an excuse when you have the power to influence the tax code.

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samurai bandit
09/27/20 11:07:29 PM
#53:


As usual, Trump supporters try to deflect saying others dont pay taxes yet post no proof. Plus everything others have said of them not being presidents.

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TaxationIsTheft
09/27/20 11:09:46 PM
#54:


My man
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UnfairRepresent
09/28/20 3:47:27 AM
#55:


mech dragon posted...
Hell literally face no penalties for this. Yet another broken system in the US.

Law and order

but not for me
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008Zulu
09/28/20 4:29:36 AM
#56:


DDirtyDastard posted...
Bezos pays zero. I don't see you calling him out.
Not for as long as Trump controls the Senate.

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St0rmFury
09/28/20 5:07:02 AM
#57:


So what now?
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Crazyman93
09/28/20 5:09:57 AM
#58:


samurai bandit posted...
Trump supporters try to deflect saying others dont pay taxes yet post no proof.
I mean, it's fairly well assumed by everyone that most rich people get out of paying taxes. Why do you think so many of them are philanthropists. You get a big tax deduction charitable donations.

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pinky0926
09/28/20 5:13:21 AM
#59:


Bootlickers already defending this as "smart"

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008Zulu
09/28/20 5:20:37 AM
#60:


mech dragon posted...
Hell literally face no penalties for this. Yet another broken system in the US.
Republicans: It works as intended, for us.

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pinky0926
09/28/20 5:22:06 AM
#61:


I went onto /r/conservative and they think its either fake news or liberals not understanding how taxes work

Your country is doomed yo

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nfearurspecimn
09/28/20 5:23:15 AM
#62:


How do we know he didn't just do a lot of charity write off donations? Serious Q. Not an angle nor defense of Trump.

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Crazyman93
09/28/20 5:37:04 AM
#63:


nfearurspecimn posted...
How do we know he didn't just do a lot of charity write off donations? Serious Q. Not an angle nor defense of Trump.
I mean, that's what Bill Gates and Warren Buffet do.

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billcom6
09/28/20 6:36:28 AM
#64:


nfearurspecimn posted...
How do we know he didn't just do a lot of charity write off donations? Serious Q. Not an angle nor defense of Trump.
Because that's not mentioned at all in the story.

Also if Trump donated that much to charity, don't you think he would bring it up often?

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pinky0926
09/28/20 6:55:56 AM
#65:


billcom6 posted...
Because that's not mentioned at all in the story.

Also if Trump donated that much to charity, don't you think he would bring it up often?

Also it's mental that some people are honestly using that as a defence for why a man with a reportedly 10 figure net worth pays less income tax than someone on the fucking dole.

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UnfairRepresent
09/28/20 6:58:01 AM
#66:


fun fact about the charity angle

Trump himself is claiming that he paid millions in taxes and the news is fake

so they are arguing against trump to defend him
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Shadow Don
09/28/20 7:02:03 AM
#67:


pinky0926 posted...
Bootlickers already defending this as "smart"

Owing hundreds of millions to creditors is "smart"??? Were these people educated at Trump University or something?

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#68
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thronedfire2
09/28/20 9:22:15 AM
#69:


nfearurspecimn posted...
How do we know he didn't just do a lot of charity write off donations? Serious Q. Not an angle nor defense of Trump.

because those would have been written off on his taxes

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ChocoboMogALT
09/28/20 10:13:31 AM
#70:


nfearurspecimn posted...
How do we know he didn't just do a lot of charity write off donations? Serious Q. Not an angle nor defense of Trump.
Besides the fact that it'd show up on his taxes, like all the other supposed reductions mentioned, and the fact that Trump himself claims this to be fake, he would have to donate his income minus other deductions in order to pay zero taxes.
It's more likely (and seems to be the case) that he's fraudulently writing off business expenses. The Trump Foundation, his supposed charity, was caught for doing the same.

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gatorsPENSbucs
09/28/20 10:18:33 AM
#71:


billcom6 posted...
The low amount of taxes paid is only half the story. The reason for such low taxes, tremendous financial losses, show that Trump is actually really bad at running businesses.
Or is it because hes a smart businessman? Read a whole bunch of stuff on Reddit and seems like he just found a bunch of rich people loopholes and deductions. Has nothing to do with political nonsense or really anything other than just rich people being rich.

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apocalyptic_4
09/28/20 10:20:14 AM
#72:


Frosted_Midna posted...
How come we Americans have to pay taxes then?

Because taxes are for poor and middle class people.

Laws and many loop holes are designed for the rich to maintain and gain wealth including offshore accounts and plenty of other tax havens.

It baffles me that people here are fooled into thinking the rich pay a fair share in taxes.

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DarkProto05
09/28/20 12:09:54 PM
#73:


apocalyptic_4 posted...
Because taxes are for poor and middle class people.

Laws and many loop holes are designed for the rich to maintain and gain wealth including offshore accounts and plenty of other tax havens.

It baffles me that people here are fooled into thinking the rich pay a fair share in taxes.

apocalyptic_4 posted...
Because taxes are for poor and middle class people.

Laws and many loop holes are designed for the rich to maintain and gain wealth including offshore accounts and plenty of other tax havens.

It baffles me that people here are fooled into thinking the rich pay a fair share in taxes.


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_BIueMonk
09/28/20 12:14:23 PM
#74:


apocalyptic_4 posted...
It baffles me that people here are fooled into thinking the rich pay a fair share in taxes.
\_()_/ Biden paid his taxes.

hey maybe he should be in charge! and not a lying crook!

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whitelytning
09/28/20 12:19:43 PM
#75:


pinky0926 posted...
Bootlickers already defending this as "smart"

Why don't you pay more than you should? Why should anyone do that?

Take off your political bias glasses and think about what you are saying.

Here is a better example that more people can relate to: one of the main reasons people contribute to IRAs is because it can lower your current tax bracket so you owe less. Are you suggesting it's not smart to do that? Why is that different than a rich guy doing things to pay less?


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ChocoboMogALT
09/28/20 1:30:55 PM
#76:


whitelytning posted...
Why is that different than a rich guy doing things to pay less?
Because undervaluing your properties on one book and overvaluing them on another is fraud. Becaude using charitablr contributions to buy a $20,000 portrait is sleezy. Because overvaluing your haircuts is fraud. Because taking money out of your campaign contributions and using it as a personal slush fund is campaign finance fraud.
This isn't maxing out your Roth IRA, this is lying about your income and estate value.

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samurai bandit
09/30/20 12:35:23 AM
#77:


Crazyman93 posted...
I mean, it's fairly well assumed by everyone that most rich people get out of paying taxes. Why do you think so many of them are philanthropists. You get a big tax deduction charitable donations.

I also believe that "philanthropy" for rich people is just to deduct taxes but unless I see other rich people taxe reports I wouldnt assume they only pay $750. I'd imagine they go from paying 50 million in takes to perhaps 20 million but never close to zero. I might be wrong as I have no proof to support this.

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