Bombshell report on Trump taxes sends GOP nominee reeling

If @Dei and @RocketsLegend are anything to go by Republicans and Trump supporters don't give two ***** about this leak.

 

but those who are still on the fence---in particular educated Republican suburbanites---are not gonna to vote for the con man. some of them would Hillary

 

what exactly was the leak?

 

Trump could simply clear things up by doing what ever other presidential candidate in the past half century has done.

Here is the 'spin' Hillary's camp wants your thick skull to understand. Lobbing off tax rates for the wealthy and expecting the savings they netted to be reinvested into more jobs is like expecting a obese kid to share his pizza if you give him more of it and Donald Trump is exhibit A. A multi-billionaire who's entire economic policy is centered around a notion that the wealthy are being stifled by a heavy tax burden and therefore cannot reinvest money into 'America' when said billionaire could quite possibly(we won't be certain until he does what every other presidential candidate has done for the past half century) have an effective tax rate of a toddler for the past two decades. That's the 'spin' Hillary's camp is trying to send out and the most ironic thing here is if Hillary was in the EXACT SAME PREDICAMENT as Trump where there are suspicions she hasn't paid personal federal taxes for the past 2 decades AND is advocating for a massive tax rate decrease for the top 1% AND she refuses to release returns just like every other candidate in the past half century, you BET YOUR ASS YOU WOULD EAT THAT **** UP AND TOUT "CROOKED HILLARY!" and add this ****ing fiasco under her belt of 'crookedness'.

 

The leak meaning the three loose tax documents showing Trump reported a loss of almost a billion dollars in 1995. And that he could be carrying it over to eliminate his earned income so he did not need to pay any income tax until 2013.

For context, Trump reported more loss in 1995 on his 1040 than Apple computers has ever lost in a year, and they almost went out of business in 1997.

Not paying taxes looks awful, but the public learning you're losing billions while portraying yourself as an Always Winner is a potential knock out blow for both ego and campaign.

 

At this point, any sane rational individual would understand that the only reasons he is so damn relecutant to post his returns himself like any other candidate in the past half century is because either it either shows how little income he earns on a year to year basis or it shows how ruthless his tax attorneys are in attempting to avoid paying anything. Most likely, it's a combination of both.

 

1.His loss was no secret. He even wrote a book about it.

2. Trump legally used the law to his advantage. He did not do anything wrong. NYT did same in 2014

3. He is a winner since he came back from his loss stronger then ever.

 

Like I said: You don't give two ***** about this leak.

 

No it's not. It's transparency for the sake of garnering votes. We have a mechanism for finding out and going after people who do tax evasion. We never would've known
the shady **** going on behind the DNC so thanks putin, you're a good guy.

 

He lost a **** load of money. It's not tax avoidance. It's just losing a **** load of money.

 

How many humans on this planet are capable of being winners with ah father with a net worth of more than a quarter of a billion dollars not accounting for inflation in today's value? I would assume 99.9% of humans. Who knows, maybe you are in that 99.9% of elite business 'savvyness'.

 

Ok then why are you all railing him for not paying taxes because of it too?

 

Because his entire mantra is around how elite and savvy of a business man he is?

Question. If releasing returns is a trivial matter that produces no substance, why is Trump so reluctant to do so when every candidate in the past half century has had no qualms doing it themselves?

 

https://en.wikipedia.org/wiki/Cognitive_dissonance

 

No I'm pointing out that he has been a very questionable businessman. The left is completely missing the point. He isn't avoiding taxes. He's just lost a **** load of money in business before. He is more of a celebrity than anything. The dude royally ****ed up the biggest potential deal of his career back in the 80's with the rail yards in Manhattan. He got into one of his classic pissing contests blew a major development deal that was effectively setup by his dad and their Democrat govt ties in NYC.

This "bombshell" just continues to show how much he has failed in business before.

 

Trump's business dealings and tax minimization isn't the biggest issue. What his businesses made and lost is already on record. He's doing what is legally required and allowable.

Its Trump's direct contradictions and hypocrisy in his campaign related to these matters. He has a Presidential PLATFORM stating that govt puts inordinate TAX burden on BUSINESSES, when it CLEARLY in his OWN experience has NOT burdened him or his businesses. That's pure contradictory talk.

And he also has criticized illegals coming in the country taking jobs away from legal citizens, and that illegals don't pay into the system. When he HIMSELF has NOT paid into the system (presumably). Another direct contradiction.

He says its needing to lessen tax on businesses to help create domestic jobs instead of foreigners getting them. Again, his own tax burden is minute, and even more its a general reflection of other big businesses not just his, (its almost like he's revealing what all business can "get away with"),so its just an odd conclusion to make from those inconsistencies.

Add in that he didn't even release his tax returns, and it just leaves a gigantic question mark on validity of the claims.

Despite that, Trump could still rectify the issue with some transparency and spin on how he created solutions from those dealings. Just seems his approach is to stay bombastic instead of practical. Which wins over the spirit of his supporters but undermines his own problem solving of issues. He'd rather bombastically proclaim he's a problem solver rather than actually adjust fully to solve them.

 

Question. How many presidential candidates that ever ran were as rich as him?

I never said they were trivial. Tax returns give measure on financial standing that could be used as leverage against him as a businessman with a lot of properties. You're confusing things.

 

Unless Trump's $10 billion net worth is taken at face value, Ross Perot was likely richer.

Bloomberg is significantly richer, but was not as near to the finish line as Trump.

 

Is he poor now? Even the most conservative measures of his wealth had him in the billions, still.

Youd be surprised how many deals fall through for businesses.

Jobs got kicked out of his own company. If he didn't get lucky with Pixar, whose success he didn't contribute to apart from the funding and he tried to sell just before they broke through, he'd be considered a failure.

IBM sold their sagging consumer business to China yet to concentrate on industrial consultancy. Are they failures? Microsoft flopped with the Zune, Lumia, Google got a dud with Wave Project Ara...

EDIT: I may have missed your point earlier.
It wasn't intentional tax avoidance. He didn't lose 1B to not pay taxes for the ensuing decades. He did just lose the money. But it was a smart thing to do to apply for the tax break.

He probably didn't even think of doing it by himself. He's not a lawyer. He probabaly had advise from bankruptcy lawyers.

 

Trump used a very particular type of tax break that afaik exists to help businesses stay afloat. It's not the type of tax law he's referring to when talking about overburdening American businesses because it's not a law they encouter on a day to day basis.

Either way, he was a private citizen. Can't really blame him for taking advantage of it, IF HE ACTUALLY DID.