Trump's taxes revealed - this is what he was hiding

[_Gunnar]

How Trump’s taxes compare to those of other presidents

In 1977, President Jimmy Carter had a problem, according to presidential tax historian Joseph Thorndike. Carter’s federal tax burden for 1976 had been zeroed out by a massive investment tax credit he earned for purchasing equipment and buildings related to his peanut farm.

Carter was upset, as he told The Washington Post at the time, because he had a “strong feeling” that wealthy people like him should pay at least some taxes. So he voluntarily paid the Treasury Department $6,000, the equivalent to 15 percent of his adjusted gross income and slightly more than the 14 percent paid by average taxpayers that year.

How times have changed.

Trump probably paid less in federal income tax than average middle-class American
On Sunday, the New York Times reported that President Trump paid just $750 in federal income tax his first year in office, the lowest first-year tax payment of any president since at least Carter and, in raw dollar terms, significantly less than what the average middle-class American family pays.

Trump’s predecessor Barack Obama, by contrast, paid nearly $1.8 million in federal income tax his first year in office, primarily on royalties from the sale of his books. George W. Bush’s first-year federal tax burden was $250,221, paid largely on his presidential salary and investment income from the blind trusts in which his assets were held. Prior presidents each paid tens of thousands of dollars in taxes during the first years of their administrations.[/quote]

[_Some Schmo]

That Trump is a fu-ck up is not news - every sentient person on the planet knows that.

The fact that this deluge of evidence that Trump is a fu-ck up has not moved GOP senators to act is what really matters. Right wingers whine about ignoring the constitution but we know that's a fu-cking lie, otherwise, they would expect congress to hold this president to account, like the constitution tells us to.

I'm a fiscally conservative independent the GOP has forced into voting straight Democrat for the foreseeable future. The Democrats are actually the more conservative party now (if you, ya know, care about that stuff).

On another note, I think it's hilarious people want to pretend Trump isn't trying to make money off his office, citing that he hasn't made much. Of course, that supports just how horrible of a businessman he really is, but that reality is what they're fighting.

When you think of everything the right wing made up in order to smear and demean Obama to get a rise out of the base... turns out they don't give a sh-it about that stuff, because all of that and more is true about Trump. If it's not blatant racism, Republican voters are either stupid or hypocritical or both. I can't come up with a positive GOP vote story. My imagination isn't good enough to come up with that plot line, where the protagonist is not either stupid, ignorant, malevolent or insane. Name the excuse for voting Trump, and it will represent some combination of those four descriptors.

Stupid, ignorant, malevolent or insane. Those are the only explanations.

[_ajax18]

Did prior presidents also decline their salary as Trump did?

[_Some Schmo]

Did prior presidents also decline their salary as Trump did?

You will literally believe anything if motivated to do so, won't you? Remarkable.

I'm currently debating whether having such a blank canvas for a mind could be a good thing.

[_Themis]

Democrats have always relished their public officials sticking it to guys like me. I understand that.

It's republicans these days who are doing this to you.

But don't try to tell me it's in my best interests to work a month extra each year just to pay the increased taxes so the rest of you enjoy early retirements and an increasing number of people never end up going to work at all.

You are working extra hard now to make guys like Trump richer and you poorer, and saddling your children and grandchildren government debt they have to pay.

[_Jersey Girl]

Did prior presidents also decline their salary as Trump did?

Did prior presidents pay off a stripper and playboy model to the tune of 180K combined while paying no income taxes?

[_Gunnar]

Democrats have always relished their public officials sticking it to guys like me. I understand that.

Maybe guys like you deserve that.

[_MeDotOrg]

Did prior presidents also decline their salary as Trump did?

The question is rhetorical. Trump is the only President to donate their salary. One can certainly laud that he is able to afford to do this. But I would rhetorically question right back: Do we only elect persons who are rich enough to donate their salary?

Donald Trump's salary for his first term is $1,600,000. Currently under audit is a tax filing where he received a $73,000,000 tax refund. If the exemption is denied, he will owe the United States about $100,000,000 with penalties.

A million-six? Chump change.

Any way you look at it, Trump is in deep financial trouble. The biggest money maker, The Apprentice, is gone. Most of that money plowed into resorts and hotels, which were bleeding money BEFORE Covid-19. With his revenue shrinking, Trump has $300,000,000 in personally guaranteed loans coming due in the next few years. Given his financial record, it is fair to ask where he will get the money.

I'll tell you one thing, Ajax. The next time a candidate says he won't release his taxes, think about what that means.

[_ajax18]

Do we only elect persons who are rich enough to donate their salary?

Yes. But this was part of Trump's appeal to his base in the Republican primary of 2016. Republicans wanted someone who wasn't beholden to the swamp to run his campaign. Trump did pay taxes on his salary even though he didn't accept it.

A million-six? Chump change.

Sure

Any way you look at it, Trump is in deep financial trouble. The biggest money maker, The Apprentice, is gone. Most of that money plowed into resorts and hotels, which were bleeding money BEFORE Covid-19. With his revenue shrinking, Trump has $300,000,000 in personally guaranteed loans coming due in the next few years. Given his financial record, it is fair to a

I'd give the man the shirt off my back. He's a very loved man amongst his supporters. He's going to be fine. We take care of our own.

I'll tell you one thing, Ajax. The next time a candidate says he won't release his taxes, think about what that means.

Harry Reid accused Romney of tax evasion. I thought the charge was bogus then. But I do find it interesting that just as Hunter Biden has profited immensely from his father's political career by being offered the opportunity to sit on boards a few hours and be paid hundreds of millions of dollars with no experience necessary, Mitt Romney and a few of his sons seem to have done the exact same thing. And now Romney is in the senate trying desperately to protect the political establishment of both parties to make sure the American people never get to know about this. This concerns me a little more.

[_honorentheos]

Do we only elect persons who are rich enough to donate their salary?

Yes. But this was part of Trump's appeal to his base in the Republican primary of 2016. Republicans wanted someone who wasn't beholden to the swamp...

Being beholden to financial institutions and oligarch financiers is better how exactly?