Discussion»Questions»Finance» Guiliani says that the GOP prez wannabe is a tax genius. Not paying taxes services his interests. How does that service your interests/you?
When accused of possibly not paying federal taxes the GOP prez wannabe said that makes him smart. The corollary of that is of course that those who do pay taxes aren't smart, they are stupid. We the stupid fund the government which services the wealthy. That isn't very smart is it MrWitch? Thank you for your reply and Happy Tuesday! :)
I personally think Donald is stupid as a stump Rosie. Not a question of IQ I hasten to add, just the impingement of his many personality defects on his ability to function as a normal human being. He clearly isn't 'normal' by any stretch of the imagination.
If he really was 'smart' he would have released his tax returns, shown his losses, identified the specific rules under the tax code that allowed him to do this and promise to stop them. The huge loss in '95 is dependant on the specific tax law which relates only to landlords I believe, and it would have been a simple (and small) promise to make.
But of course, that would involve another lie Trump has perpetuated - that of his billionaire status. Almost nobody thinks he has as much money as he says he does, and examination of his business record shows repeated bankruptcies when he was either baled out by daddy or left many of the 'little people' carrying the can in some way. Not impressive. He's a man caught in a web of lies, many of which date back 20 years or more, and any liar could tell you that sooner or later, if you do this you will be disadvantaged in some way by the lies you have told.
Trump never said that those who don't take advantage of the tax laws is stupid.
I, like many others, have paid Federal taxes through out my entire adult life. At one time I had a small business; years I made a small profit and paid taxes on that profit based on a tax rate for our entire income; other years I had a loss and deducted that loss against other income. The tax laws allowed it. I also check every year to see if I can itemize my deductions (much harder today than it was 20 years ago) or take the standard deduction --- so that I can pay lower taxes. The law allows for that.
Trump has been advocating for a change in the tax code from the beginning. We have people in congress who ran on that issue. But the special interests keep that from happening and that include many multi-national corporations based in the US who take massive 'losses' and pay no income tax year after year. And sadly, they've been financing the Clinton candidacy, knowing she will change NOTHING.
Trump did not control the tax law and instead he just obeyed it. Who was in power when trump paid no tax as the law said? Bill clinton. So clintons kept the law saying should not pay tax. And this is the fault of trump? And today the law is not much changed so as trump said, hillary has been around in politics for about 30 years and what has changed?
We've been complaining about the tax code for as long as I can remember. Whose fault is that? Congress! Instead of closing loopholes, they add special interest loopholes. I'll note that a number of businesses (and this was a business loss), such as GE, have years where they've paid no tax. Even the New York Times paid no Federal tax in 2014, even though they had a profit that year because of 'deductions' under the Federal Tax Code.
I don't know anyone who doesn't want to find 'deductions' to reduce their tax liability.
But the bottom line is, the NYT broke Federal law by releasing this information.
Benedict Arnold 