2020 Presidential Election thread

Before I read any of the articles, did Trump pay 750$ in taxes or no ? I’ve seen 500 memes but haven’t had time to look it up 

posted by geeblock

Before I read any of the articles, did Trump pay 750$ in taxes or no ? I’ve seen 500 memes but haven’t had time to look it up 

Why don't you just read the actual article? 

posted by like_that

Why don't you just read the actual article? 

Isn’t someone going to just say it’s fake. Usually takes more than one article and source which I will eventually. Just looking for the cliff notes if someone had looked into it. No biggie 

I'm not sure if it's true or not. But if it is, it doesn't make me like him less.

posted by geeblock

Before I read any of the articles, did Trump pay 750$ in taxes or no ? I’ve seen 500 memes but haven’t had time to look it up 

I have no idea if it's true.  I'm suspicious of anything like this that comes out during the election season.  But even if it is true, so what.  As long as he's done nothing illegal, who cares.  You don't get into these high income brackets without someone counseling you on how to avoid taxes as much as possible.  Just ask Warren Buffet or Bezos.  People already have their minds made up about him.  If they have, or will be voting for him, they're doing it knowing full well that he's a performer first and foremost.  I can't imagine anyone reading this and thinking, "Oh well, that does it.  I'm not voting for him any longer."  I think the NYT is simply pandering to its audience like Fox News does.  

posted by geeblock

Before I read any of the articles, did Trump pay 750$ in taxes or no ? I’ve seen 500 memes but haven’t had time to look it up 

NYT is saying that he paid $750 in income tax in 2016 and no income tax for 10-15 years before that. As far as I know, no other source has backed this up.

Trump claims that it is "fake news" but refuses to release his taxes.

I don't know if it is true or not, but there is definitely something on his tax returns that Trump doesn't want the public to see.

I didn’t figure on an objective board  like This it would be a big deal but I’d rather ask than feel the wrath of jmog

I don’t know what is entirely true either. The same article says he paid $1m in 2016 and $4.2m in 2017, but after he filed his liability was only $750. I’m a CPA, and skeptical a reporter can understand all that is going on based solely on tax returns. I also don’t care how much he pays in personal income taxes. If you aren’t trying to minimize your tax liability you’d be a dummy. 

Whoever charged him $70,000 for doing his hair should be arrested for robbery.

posted by iclfan2

I don’t know what is entirely true either. The same article says he paid $1m in 2016 and $4.2m in 2017, but after he filed his liability was only $750. I’m a CPA, and skeptical a reporter can understand all that is going on based solely on tax returns. I also don’t care how much he pays in personal income taxes. If you aren’t trying to minimize your tax liability you’d be a dummy. 

It's why I have somebody else do my taxes, so that I pay as little as possible.

I sometimes long for the days when I was a teenager, filling out the old 1040EZ

posted by iclfan2

I don’t know what is entirely true either. The same article says he paid $1m in 2016 and $4.2m in 2017, but after he filed his liability was only $750. I’m a CPA, and skeptical a reporter can understand all that is going on based solely on tax returns.

Yeah, I wasn't surprised a real estate mogul doesn't pay taxes most years.  That business is usually characterized by income accruing to trapped/illiquid building equity.  And then when you sell the asset after 20-30 years, you have a massive capital gain plus a recapture of the depreciation you took that deferred all that taxable income.

And then Trump has been collecting golf courses for the huge NOL's, which is something else he is able to use to offset income.

I certainly would itemize if 70k for haircuts is legit. I don’t think everyone does it makes that ok. That’s basically stealing. I think any candidate from any party should have to disclose their taxes 

posted by geeblock

I certainly would itemize if 70k for haircuts is legit. I don’t think everyone does it makes that ok. That’s basically stealing. I think any candidate from any party should have to disclose their taxes 

I thought that was from The Apprentice.  He was in 186 episodes over 12 years.  Factoring in there might be multiple shoots, probably somewhere around $200 for a hairstylist for each shoot.  Guessing that's not out of the ordinary for stars of a show.

Yeah, if it's for hair/make-up for the Apprentice then the expense is completely legit.  Or it might be for the hundreds of interviews/cable news programs he's done over the years.  Again, probably a legit expense.  Public figures get to deduct clothing and all kinds of other personal care stuff because unlike you or me, their income & employment is directly related to their appearance.

posted by gut

I thought that was from The Apprentice.  He was in 186 episodes over 12 years.  Factoring in there might be multiple shoots, probably somewhere around $200 for a hairstylist for each shoot.  Guessing that's not out of the ordinary for stars of a show.

Yeah, if it's for hair/make-up for the Apprentice then the expense is completely legit.  Or it might be for the hundreds of interviews/cable news programs he's done over the years.  Again, probably a legit expense.  Public figures get to deduct clothing and all kinds of other personal care stuff because unlike you or me, their income & employment is directly related to their appearance.

If that is over 12 years then sure. I’m sure the show pays for that tho 

There is a tweet for everything tho

@BarackObama who wants to raise all our taxes, only pays 20.5% on $790k salary. http://t.co/bqF26mQf Do as I say not as I do.

— Donald J. Trump (@realDonaldTrump) April 13, 2012

posted by geeblock

If that is over 12 years then sure. I’m sure the show pays for that tho

Depends.  They might not pay for his personal stylist, or you don't know what the contract calls for as he had a share in the profits and was also producer.  It might also be the hundred of interviews he's done over the years.

I'd be absolutely shocked if $70k was for one year.  $1400 per week is $200 per day.  Doesn't seem likely.  But I suppose I could see him having his hair done each morning while he watches Fox & Friends.

posted by gut

Depends.  They might not pay for his personal stylist, or you don't know what the contract calls for as he had a share in the profits and was also producer.  It might also be the hundred of interviews he's done over the years.

I'd be absolutely shocked if $70k was for one year.  $1400 per week is $200 per day.  Doesn't seem likely.  But I suppose I could see him having his hair done each morning while he watches Fox & Friends.

Have you seen his hair?

He may have done nothing wrong and maybe all rich people do the same thing but it’s ironic that he runs a campaign based on fear and scaring people that immigrants don’t pay tax, and poor people don’t pay tax and joe Biden is going to raise your tax.. but he likely hasn’t paid taxes in years. But convinces poor people that it’s other poor people keeping them poor 

posted by geeblock

He may have done nothing wrong and maybe all rich people do the same thing but it’s ironic that he runs a campaign based on fear and scaring people that immigrants don’t pay tax, and poor people don’t pay tax and joe Biden is going to raise your tax.. but he likely hasn’t paid taxes in years. But convinces poor people that it’s other poor people keeping them poor 

I mean he pays a shit ton in other taxes for his businesses.  And Biden literally said he would raise taxes, no thanks, I’m only concerned about my own money (even if the raise in taxes is taking away the tax cuts). 

It’s funny you say there is a tweet for everything, one of the people I follow posts every contradiction and there literally is one for almost everything.

posted by geeblock

Before I read any of the articles, did Trump pay 750$ in taxes or no ? I’ve seen 500 memes but haven’t had time to look it up 

No, NYT lied. He paid $5.2 million those two years and the “$750” was what he had to pay on top of what he had already paid.

Like after doing your taxes if your final line said you still owed $750, you didn’t only pay $750 in taxes, you paid the total out of your pay check for the year PLUS $750