Trump paid little to no federal income taxes over several years as he piled up losses and debt, NYT reports | Crypto Craft

Trump paid little to no federal income taxes over several years as he piled up losses and debt, NYT reports | Crypto Craft

Trump paid little to no federal income taxes over several years as he piled up losses and debt, NYT reports

From cnbc.com

President Donald Trump’s businesses have hemorrhaged hundreds of millions of dollars over the last two decades, allowing him to minimize his federal income tax bill to $0 or nearly $0 for many of the years in that period, according to a bombshell report published on Sunday by The New York Times. Trump paid just $750 in federal income taxes in 2016 and another $750 the following year, the newspaper reported, and none at all in 10 of the previous 15 years. He is personally responsible for more than $420 million in debt, most of which is coming due within the next four years, according to the Times. The report, which ... (full story)

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Sep 30, 2020 9:40am

I'm American and old enough to remember a country that prospered and innovated with a robust middle class and wealthy who didnt mind investing tax dollars in the country that made them rich. Not spoiled rich kids who squander millions of daddy's dollars as they jump from one failure to the next. Trump is a pathetic excuse for an American. It's embarrassing. The U.S. used to have the most upwardly mobile economy in the world, meaning if you worked hard and smart you could make something of yourself and become wealthy if that was important to you. This occurred while the top tier tax rate was 91%. And the reason it worked is because it didnt make sense to be a billionaire if you had to hand it over to the government. Instead, smart businessmen re-invested those massive profits into their work force, R&D, innovation and communities. This is what made America great. Minimum wage was a living wage, healthcare was inexpensive, college education was nearly free, social safety nets kept the homeless off the streets and a 40 hour work week paid well enough for one parent to stay home and raise the kids and allow ample family time for everybody. Reagan's trickle down economics and the republican mantra of making the rich richer has transferred over $6 trillion from America's middle class to the top 1%. The U.S. is now one of the least upwardly mobile of all developed countries and it takes 78 hours of work to achieve the same purchasing power as 40 hours in 1976. This is not America. Donald Trump and all the greed mongers before him on both sides of the political spectrum have trashed this country. But the truth always comes out, eventually. Their days are numbered. God help us in the meantime.

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Sep 28, 2020 8:09am

Quoting Mingary

Hidden

Now you have reached rock bottom Mingary... supporting retail forex fraud with reverse marketing strategies and support the biggest fraudster and conman no matter what.

Official tax data is a source for fake news, no issues here... a democrat spin? Or do you claim they are rigged? Explain how and why? Look, if you don't make profits over decades you can't become rich legally while doing so.... Even you should understand this. He is likely not rich but he surely has either almost as or more debt than assests - everything is a house of cards. This is the only logical explanation if he just pays so little tax over decades.

He likely has a businessmodel where he generates profits that he hides from the tax office and within his legal operations he does not generate profits...to avoid taxes. He may use some legal loopholes, but being Trump he will certainly use illegal ways too as already convicted in the past. It is fact that he overestimated his wealth if he wanted money from banks to get better conditions and undervalued the very same assets in tax relevant situations to minimize taxes.

You have a lot in common with this guy. By the way, the blaming phase is long over. The evidence needed to put him in jail is here since a long time, but can't be put to work as long as he is president. However, the clock is ticking and then it's time to lock Trump up together with all his fake news propaganda liars also active here on FF.

3

Sep 29, 2020 6:03am

The official article was from 'New York times' and of course CNBC, in true fake news spirit, ommited the second part and completely cut it out. This is how the 'New york times' article starts:

'Donald J. Trump paid 750$ in federal income taxes the year he won the presidency. In his first year in the White House he paid another 750$' - total bs but it's new york times right? It continues later on (the article i mean)...
'...he made the required payment to the I.R.S for income taxes he might owe - 1 million dollars for 2016 and 4.2 millions for 2017...' - this is from New York times i repeat.

Now (and this is how the media in your country works, i know it because i've seen it before in my country), CNBC took the first part of the article and deleted the 2nd part completely. They call this 'the next level' lol...

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Sep 28, 2020 1:17am

For starters, I wish more people would read rich dad versus poor dad. That book has many flaws but it will introduce some basic concepts like a business pay tax on its profit, not its income.. and thats after paying all the employees! 99% of us would rather pay an employee 70K than feed it to the government.

Trump, for all his fault, is rich dad. Lol -400 million in debt, and is the US president. The man is brilliant! And all the lefties with student loans... don't like him! They have more in common with him than they realize..

4

Sep 28, 2020 12:34am

Quoting Mingary

Hidden

Its the same over here.
The left in Australia are constantly behaving like desperate justice warriors.
With no platform for actually getting things done, they spend their time fabricating lies, embarrassing themselves and losing elections.
I would have thought they would have learnt to take a different path by now.

3

Sep 27, 2020 11:56pm

Quoting here2there

Hidden

Bud, just relax. We all just having fun with the story. You should be laughing as well. It's pretty funny.

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Sep 28, 2020 3:09am

Come on, lighten up, most business men and women in the western world hire good accountants and lawyers to do the same !
there are millions of wealthy people who minimise paying tax, and there are some smart, not so wealthy people who also do not pay , if it is done legally , then there is no argument.
he has had the IRS audit him , i have had the IRD audit me, if you know your stuff then the Dems and SJW's can go jump, maybe they are not smart enough to do the same.
personally i believe in paying reasonable direct taxes on spending, fuel consumption etc which no-one can evade ( VAT, GST etc.. )
i do not believe in the justice in paying tax on a tax, on a tax, like fuel or excise duty,
i do not believe in paying death duties or stamp duties or on superannuation withdrawls, these are just a money making scam.
this is amounts to a tax on savings or on already tax paid income.
Most in the western world are triple taxed in this way ! wake up.

A real life story : i was hospitalised coming off a plane landing at Heathrow , in hospital for five days with a collapsed lung ( pneuma thorax) i needed some medication sent from NZ -it turned up with someone from Her Majesty's customs demanding tax and duties of more than it was worth, - (which had already been paid btw ex import from India into NZ previously )
it amounted to total theft by " her Majesty" !
needless to say i didn;t pay it , sent it back to NZ where i collected it when i returned home.
as it turned out Hillingdon Hospital issued the medication with no questions or tax !

Now that's Tax Avoidance !

3

Oct 4, 2020 5:44pm

Quoting HudithePfupf

Hidden

I think hes nailed you mate.(@Mingary) Id be very quiet now if you are smart..Get yourself a woman and concentrate on her for a while.. Save us all some grief reading this stuff,

2

Sep 29, 2020 1:10pm

Quoting barkie

Hidden

Not american bro look where i live. You don't know how the world works if you think this is just America that's doing this...i have relatives in UK, USA, Canada etc. that all have small businesses and they ALL do the same. These rules are not just for rich people but all people. This is capitalism...if you are smart you don't even have to bend the rules, just Know them inside out. You think it's a coincidence that small states like Malta and Monaco etc. are some of the wealthiest in the world per capita? No, they all have the same thing in common. Low taxes! This is true capitalism and left wing mentality, this is what makes economies grow to the sky. Taxing the rich high is a former communist mentality that leads nowhere.

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Sep 27, 2020 9:44pm

Their whole population should follow his lead and pay no taxes.

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Sep 28, 2020 12:29am

Why is anyone surprised or shocked by this?
Do you think Trump is alone in the practice of managing company finances to minimise tax?
It is common place.
Everyone knew what they were getting when they voted for Trump. What you see is what you get. As such, he is the most transparent President you have had in a long time.

2

Sep 29, 2020 10:11am

Whoever hid all the comments here, they must be that special kind of idiot.

2

Sep 28, 2020 12:44am

I'm a small business owner. I do lots of the same stuff he does, and its ok.

https://www.youtube.com/watch?v=RogUJp69YE4

He is trying. Like all us business owners.

3

Sep 27, 2020 11:36pm

Quoting here2there

Disliked

{quote} What's hilarious is Trump is far more successful and smarter than Drudge will ever be, and yet Drudge has the audacity to question Trump's success.

Ignored

Yah, the topic of this news is all about who is more successful, Trump or Drudge?
Now we know. I'm glad you are so focused.

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Sep 29, 2020 1:37pm

I have every single bill for my small business taxes going back 15 years even tho I am required to keep them for I think 7 years. I can withstand any audit and come out shining bright. In fact I under claim my expenses in case I have made a mistake. One gov tax dude actually gave me a hard time for not claiming everything that I should have. At the same time, my business taxes are extremely low.
So, the matter is not about paying little taxes by lying and cheating. It is about paying the fair and required share of taxes.

Now that he is under a magnifier, if his back up to his tax filings are solid, he should fear nothing. If he cheated, yes, he should pay back or be penalized or jailed or whatever he deserves.

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Sep 29, 2020 6:25pm

Quoting mistaouting

Disliked

Hey Trumpy bear is not stupid....you need to relax.

Ignored

Well, I'll just shut up and let the good Americans decide the fate of their lives and their country and maybe the whole world.

1

Sep 27, 2020 11:26pm

And he was the one calling Hillary all sorts of names .they say leaders lead by example and if every one follow him USA will never be great again.

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Sep 28, 2020 7:53am

Time travel is real. Here we are in 2016 again. Frankly whether he has paid x or y in taxes does not matter. Tax codes are used by everyone to benefit themselves. None of these pay more Democrats actually write a check. What does matter is that he got the economy into high gear and is making a substantial recovery despite Democrat governors truculent foot dragging to reopen. Trump has created a much better foreign policy with great results, and a much better domestic policy on the basic freedoms in our Constitution. So a revived charge with no evidence same as every other charge made against him for these past 4 years.

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Sep 27, 2020 10:39pm

This is just hilarious. I just had to capture the headlines for 'Day in history' project of mine.
Why do I have a feeling that he'll milk this to his benefit?

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Sep 28, 2020 12:02am

Quoting here2there

Hidden

It's all over every news site. I haven't checked Fox or the other sites that require Tor but it's hard to hide this kind of stuff.
Do you want me to grab more headlights and post them here?

Yah, it's my jealousy. You just follow what you belive. It's alright.

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Oct 4, 2020 3:28pm

https://youtu.be/ltphP6fiowk

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Sep 29, 2020 4:28pm

heys guys relax....when your bearish think of this
https://www.youtube.com/watch?v=i9qv8RSreIM

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Sep 28, 2020 1:11am

Quoting seanwg

Disliked

I'm a small business owner. I do lots of the same stuff he does, and its ok. https://www.youtube.com/watch?v=RogUJp69YE4 He is trying. Like all us business owners.

Ignored

this is true, if you are not in business you will never understand it

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Sep 27, 2020 11:56pm

Quoting Nick.

Disliked

{quote} HAHAHAHHAAHHAHHAHAH

Ignored

Shouldn't you be focusing on trading in here?

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Sep 29, 2020 5:14pm

Quoting mistaouting

Disliked

{quote} relax man! how could you not like it! who care if its made in china...probably fake news and a fake made in china tag

Ignored

I am super relaxed and have a lot of time on my hand, hence hanging around here and googling stupid things like this.

Nope, it is real sh*t and does exist. Another couple of pounds of plastic. Just what we need.

Oct 2, 2020 1:42am — Edited

Quoting HudithePfupf

Disliked

{quote} Now you have reached rock bottom Mingary... supporting retail forex fraud with reverse marketing strategies and support the biggest fraudster and conman no matter what. Official tax data is a source for fake news, no issues here... a democrat spin? Or do you claim they are rigged? Explain how and why? Look, if you don't make profits over decades you can't become rich legally while doing so.... Even you should understand this. He is likely not rich but he surely has either almost as or more debt than assests - everything is a house of cards....

Ignored

Now you have reached rock bottom Mingary... supporting retail forex fraud with reverse marketing strategies and support the biggest fraudster and conman no matter what.
==> Your "do you still beat your wife" argument is really silly and makes you look stupid. If you knew how stupid your smear truly is you would crawl into a hole and hide. Looks like you are still trying to find my identity. You appear to be one of those despicable individuals doxing on people with a different opinon than yours, all for "the cause". Your responses scream "troll" all over.

Official tax data is a source for fake news, no issues here... a democrat spin? Or do you claim they are rigged? Explain how and why? Look, if you don't make profits over decades you can't become rich legally while doing so.... Even you should understand this. He is likely not rich but he surely has either almost as or more debt than assests - everything is a house of cards. This is the only logical explanation if he just pays so little tax over decades.ws"

==> did I read this correctly ? "You are using "fake news" in your argument ? are you a Trump supporter ? if not, then you have no right to use this term. "Fake news" is a trump idea. You have committed the "woke sin" of "Political appropriation" I am therefore obligated to "public shame" you, if you persist you will be "cancelled" and then we, the true believers in the Democrat revolutionary cause, will send you to a series of "Struggle Sessions" so you can be "re-educated".

He likely has a businessmodel where he generates profits that he hides from the tax office and within his legal operations he does not generate profits...to avoid taxes. He may use some legal loopholes, but being Trump he will certainly use illegal ways too as already convicted in the past. It is fact that he overestimated his wealth if he wanted money from banks to get better conditions and undervalued the very same assets in tax relevant situations to minimize taxes.

==> I ran a small business for several years, the business paid all the bill and the employees, I never had an income tax to pay. This whole issue is "Fake News", (Yes I am allowed to use the term, not you! )
so the guy has been losing money for years, therefore the democrat-media complex logic is as follows: "Orange man bad" therefore he must be hiding millions.
And another witch hunt begins. It worked so well for that "Russian collusion" circus.

You have a lot in common with this guy. By the way, the blaming phase is long over. The evidence needed to put him in jail is here since a long time, but can't be put to work as long as he is president. However, the clock is ticking and then it's time to lock Trump up together with all his fake news propaganda liars also active here on FF

==> no, trump will not be going to jail. The clinton / obama gang must get him out of the white house and that is all. I am surprised he has not been killed already.

I am very much ready to go for another 50 posts with you just to see your last pathetic response to make it stop. You lost the last round.
So shall we play ?

Sep 29, 2020 2:28pm

Quoting barkie

Hidden

So i googled 1946 us economy because it sounded impossible to me after the war just ended for an economy to win. This is the first quote that appeared so...lol!

'In 1946, the US economy shrank by 11%. ... Paul Samuelson, a prominent Keynesian who later won one of the first Nobel Prizes, worried that if the war ended suddenly and government spending contracted quickly, we would face “the greatest period of unemployment and industrial dislocation which any economy has ever faced.”

@OutThere I don't really like Trump, he mumbles a lot but i hate the alternative. My guess is that he is not even bending the law, not even going into that grey area, he (meaning his attorneys and accountants) know the law inside out. My cousin in the usa said he couldn't be happier about taxes since he took office and my guess is most of the working class in USA feels the same but...let's see this 'nothing burger' story play out.

Sep 29, 2020 3:10pm

Quoting barkie

Disliked

{quote} 1948-1964 Not bad huh with a 91 percent income tax for the over 200k's? {image}

Ignored

I am on my mobile right now but that chart looks awful and stagnating but very tradeable somehow...second why are you calculating in percentages? That is misleading to me...the more an economy grows the less percentage it can grow year to year, am i wrong or...? Listen, low tax is not a joke, somebody, at some point figured that 50% of 1 million is smaller than 10% of 10 million. With high taxes you discourage small businesses and rich people from investing and they find ways to not pay their dues...with low taxes nobody cares about finding loopholes. Well that's not true, some will always want more but i am telling you, my country has been through communism and taxing the rich big is a communist policy that will never work because they will either find loopholes or completely shut down business and move elsewhere.

Sep 29, 2020 2:40pm

Quoting Stillearnin

Disliked

{quote} So i googled 1946 us economy because it sounded impossible to me after the war just ended for an economy to win. This is the first quote that appeared so...lol! 'In 1946, the US economy shrank by 11%. ...

Ignored

1948-1964 Not bad huh with a 91 percent income tax for the over 200k's?

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Sep 28, 2020 5:19am

Quoting barkie

Hidden

Really?
it appears you wouldn't know actual truth unless it slaps you in the face
...or lays you out on a hospital bed ?
then when you have some time to reflect, try to understand persuasive Capitalism , better still watch " the Social Dilemma"
and you are not deplorable?

Sep 29, 2020 5:06pm

Quoting OutThere

Hidden

relax man!

how could you not like it! who care if its made in china...probably fake news and a fake made in china tag

Sep 27, 2020 11:33pm

Quoting OutThere

Disliked

This is just hilarious...{image}

Ignored

What's hilarious is Trump is far more successful and smarter than Drudge will ever be, and yet Drudge has the audacity to question Trump's success.

1

Sep 27, 2020 11:48pm

Quoting here2there

Hidden

The Drudge report is a news gathering site. It is news that he is reporting.
What do you want him to do?
You want him to admit to himself that he is nowhere as successful as Trump and therefore, he should not report the news about Trump?

1

Sep 28, 2020 12:07am

Quoting here2there

Disliked

{quote} What's hilarious is Trump is far more successful and smarter than Drudge will ever be, and yet Drudge has the audacity to question Trump's success.

Ignored

It takes skill to have a net worth of -$400 million. The guy has more debt than some countries.

1

Sep 28, 2020 3:32pm

Very impressed that FF monitors allow a blatant political electioneering post on this website.

Oct 7, 2020 3:16am — Edited

I think we have seen too many things from President Trump, to me already tells me a lot about the results of the next elections and their importance in our trading investments

Sep 29, 2020 10:25am

Even Netflix knew about this lol they did a documentary about his life
Check it it has eveything

Sep 27, 2020 10:08pm

He paid $750 in income tax in 2016. There's no way thats true. I dont like him but I think thats probably a mistake.

Sep 29, 2020 5:24pm

Hey Trumpy bear is not stupid....you need to relax.

Sep 28, 2020 8:25am

I actually would've let this slide since most businessmen do this themselves. I just wouldn't have talked about anyone else paying lower knowing damn well I'm taking advantage of the same loopholes.

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Sep 27, 2020 7:54pm

SWEEEETTTTT DJT!!!!! Nicely done!!!!

Oct 1, 2020 4:47am

Quoting OutThere

Disliked

Their whole population should follow his lead and pay no taxes.

Ignored

Isn't this a breach of conduct? Politics. No relevance to forex. Generate heat and no debate? Do we have one rule for Trump and one rule for everyone else????

Sep 28, 2020 12:04am

Quoting Nick.

Disliked

He paid $750 in income tax in 2016. There's no way thats true. I dont like him but I think thats probably a mistake.

Ignored

It's true.

1

Sep 27, 2020 9:20pm

Trump will be president for anoter 4 years or maybe even more. Unfortunately.

https://www.youtube.com/watch?v=VBgw-eEK30w

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Sep 27, 2020 11:48pm

Quoting OutThere

Disliked

{quote} Yah, the topic of this news is all about who is more successful, Trump or Drudge? Now we know. I'm glad you are so focused.

Ignored

HAHAHAHHAAHHAHHAHAH

1

Sep 28, 2020 3:16am

And i wonder how much "tax' will be imposed on the SARS2-C-19 vaccine when it becomes available?
think about it.
its all about the money.
(that you and i are forced to pay if we are to live )

1

Sep 27, 2020 6:24pm

The man, the myth, the legend.

1

Sep 27, 2020 6:16pm

He is the man and look like does not want to pay tax

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Trader#F5D4

Sep 29, 2020 12:29pm

Quoting OutThere

Hidden

Press Ctrl+F, type in 'I.R.S' it's the 5th one from up to down, i will quote the whole paragraph:

'Each time, he requested an extension to file his 1040; and each time, he made the required payment to the I.R.S. for income taxes he might owe — $1 million for 2016 and $4.2 million for 2017. But virtually all of that liability was washed away when he eventually filed, and most of the payments were rolled forward to cover potential taxes in future years.'

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