Armed Polite Society

Main Forums => Politics => Topic started by: Ben on September 27, 2020, 07:08:17 PM

Title: Trump and Taxes
Post by: Ben on September 27, 2020, 07:08:17 PM
So, now it looks like Trump is the bad guy for having a good team of CPAs who followed the law (as well as using a tax law gift courtesy of Obama).

https://twitchy.com/gregp-3534/2020/09/27/the-nyt-confirms-president-trump-was-telling-the-truth-about-being-under-audit/
Title: Re: Trump and Taxes
Post by: WLJ on September 27, 2020, 07:11:31 PM
IMPEACH HIM!
Title: Re: Trump and Taxes
Post by: Fly320s on September 27, 2020, 07:14:52 PM
Maybe this will finally prod the democrats to vote for a flat tax or the Fair Tax.   =D :rofl:
Title: Re: Trump and Taxes
Post by: Perd Hapley on September 27, 2020, 10:14:18 PM
I just want a candidate who makes money the old-fashioned way - Ukrainian energy sector sinecures and sex trafficking.
Title: Re: Trump and Taxes
Post by: just Warren on September 27, 2020, 10:32:27 PM
Ukrainian Energy Sector Sinecures and Sex Trafficking.

Not the best set of rules but it was one of the more interesting table-top RPGs to come out in the mid-2000s.
Title: Re: Trump and Taxes
Post by: WLJ on September 27, 2020, 10:53:21 PM
We got him!

https://twitchy.com/dougp-3137/2020/09/27/our-media-is-a-joke-cnns-brian-stelter-thinks-the-ny-times-trump-tax-story-is-finally-the-real-deal-spoiler-alert/
Title: Re: Trump and Taxes
Post by: Perd Hapley on September 27, 2020, 11:25:54 PM
Not the best set of rules but it was one of the more interesting table-top RPGs to come out in the mid-2000s.

 :lol:
Title: Re: Trump and Taxes
Post by: just Warren on September 28, 2020, 12:59:22 AM
We got him!

https://twitchy.com/dougp-3137/2020/09/27/our-media-is-a-joke-cnns-brian-stelter-thinks-the-ny-times-trump-tax-story-is-finally-the-real-deal-spoiler-alert/

I'm amused that they think this is going to change enough minds to cost Trump the election.

How many people hate the IRS and love to see someone get over on them? More than those who want people to pay "their fair share" I'm guessing.
Title: Re: Trump and Taxes
Post by: MikeB on September 28, 2020, 08:31:19 AM
This is what every business does. Whether corporations or sole proprietorship. This is why it’s always ridiculous when Dems go on about raising taxes on corporations and business. Corporations don’t pay taxes, they either find write-offs, take losses or pass on the tax burden to customers. Or a combination of all three.

The write-offs are built into tax law and generally supported by the same Dems crowing about corporations not paying their fair share. Unfortunately there are enough uneducated voters that the arguments work for them with a lot of voters.

Very wealthy people have many of the same options or other ways to avoid taxes that business do. No matter what it’s stupid to pay extra taxes when you have legal options to ‘avoid’ them.
Title: Re: Trump and Taxes
Post by: Ron on September 28, 2020, 08:34:37 AM
Nothing illegal, no Russians, talk about burying the lead.
Title: Re: Trump and Taxes
Post by: Ron on September 28, 2020, 08:53:55 AM
Legally avoiding taxes is every patriots duty.
Title: Re: Trump and Taxes
Post by: Ben on September 28, 2020, 09:27:43 AM
Maybe something for Trump to use when Biden brings up taxes tomorrow night:

https://twitchy.com/samj-3930/2020/09/28/unlike-biden-trump-didnt-profit-from-his-office-jeff-carlsons-list-of-what-trumps-tax-returns-really-show-is-so-bad-for-dems/

I'm pretty sure that Trump is losing a boatload of money being President vs running his companies.
Title: Re: Trump and Taxes
Post by: DittoHead on September 28, 2020, 09:36:16 AM
I'm pretty sure that Trump is losing a boatload of money being President vs running his companies.

If he wasn't paying any taxes then he wasn't making a boatload of money before being President either (on paper anyway  ;)).
Title: Re: Trump and Taxes
Post by: Ben on September 28, 2020, 09:41:39 AM
If he wasn't paying any taxes then he wasn't making a boatload of money before being President either (on paper anyway  ;)).

Well, sure, but that "on paper" applies to anyone who has the deductions available and fully uses the tax code. :)
Title: Re: Trump and Taxes
Post by: Ben on September 28, 2020, 11:46:15 AM
Thread veer, but holy crap - I went to the Pennsylvania Treasury account mentioned here and scrolled through their tweets. That's some serious partisan activism going on in a government agency. Maybe state govs don't take that stuff as seriously as fed.gov.

https://twitchy.com/samj-3930/2020/09/28/now-that-we-know-even-more-about-nyts-story-on-trumps-tax-return-patreasury-might-want-to-delete-their-smug-tweet/
Title: Re: Trump and Taxes
Post by: MechAg94 on September 28, 2020, 12:01:27 PM
I hope someone is looking at all the tax shelters Biden has voted for in his career.  Certainly it could be said that he has approved of all of it. 
Title: Re: Trump and Taxes
Post by: just Warren on September 28, 2020, 01:31:20 PM
In the NYT article itself it says Trump paid 5.2M in taxes over two years. So the $750 only thing is a straight up lie.

Also in this one it turns out the NYT admits to having access to employee compensation records and tax returns. (https://twitchy.com/sarahd-313035/2020/09/28/wtf-nyt-drives-a-stake-through-the-heart-of-its-own-trump-tax-return-bombshell-and-lets-a-very-disturbing-detail-slip-screenshots/)

Those are private individuals, and this is a massive invasion of their privacy.

The Times and the relevant staffers should be prosecuted for this.
Title: Re: Trump and Taxes
Post by: K Frame on September 28, 2020, 01:45:18 PM
Who didn't see this coming?

Nancy Pelosi is raising the nationals security spectre due to Trump's debt load...

https://www.cnbc.com/2020/09/28/trumps-reported-massive-debt-load-raises-national-security-question-pelosi-says.html
Title: Re: Trump and Taxes
Post by: DittoHead on September 28, 2020, 04:00:42 PM
The Times and the relevant staffers should be prosecuted for this.
What law have the NYT & staff broken here?
Title: Re: Trump and Taxes
Post by: kgbsquirrel on September 28, 2020, 04:36:37 PM
What law have the NYT & staff broken here?
Privacy Act of 1974 and possibly HIPAA.
Title: Re: Trump and Taxes
Post by: zxcvbob on September 28, 2020, 04:45:06 PM
Privacy Act of 1974 and possibly HIPAA.

Yes, and GDPR if any of them are EU citizens.
Title: Re: Trump and Taxes
Post by: DittoHead on September 28, 2020, 05:58:16 PM
Privacy Act of 1974 and possibly HIPAA.

I doubt it.
There are certainly laws that could be used prosecute someone who leaked these records to the NYT. Going after NYT itself is a lot harder.

There was plenty of discussion of this when other bits of Trump's tax info have been leaked/published and what I recall from my reading then is that there is potentially something in the IRS code but there was also a reasonable 1st amendment challenge if it came to that. Nothing ever did come of those, but maybe like the Logan Act someone will finally give it a try.
https://surlysubgroup.com/2017/03/15/did-rachel-maddow-break-the-law-trumptaxreturns/
https://www.washingtonpost.com/news/the-fix/wp/2016/10/02/the-new-york-times-risked-legal-trouble-to-publish-donald-trumps-tax-return/
Title: Re: Trump and Taxes
Post by: just Warren on September 28, 2020, 06:17:04 PM
If the looked at 1000s of records that means a number of employees were given access to private information. How is that not a crime?
Title: Re: Trump and Taxes
Post by: Perd Hapley on September 28, 2020, 06:32:10 PM
Quote
Because most media will breeze over it, it’s important to pause and note the criminal illegality of this story. It is a federal crime for any federal, state, or local government employee to release a tax return without the consent of the taxpayer. Ditto for tax lawyers, CPAs, enrolled agents, and other tax professionals. Interestingly, it’s also illegal to print or publish tax returns or information from them. Section 7213 of the Internal Revenue Code prescribes that each violation here is a felony punishable by $5,000 and/or five years in federal prison, plus the cost of prosecution. Federal employees so convicted are to lose their jobs.

Trump enjoys the same protection of federal tax law that any John Q. Public has. Someone should go to jail for releasing his tax returns. Speaking as an enrolled agent who has prepared taxes as a side hustle for nearly two decades, this cavalier attitude toward tax return custody is appalling to me. The president ought to have some conversations today with Treasury Secretary Steven Mnuchin and Attorney General William Barr about prosecuting the New York Times for its possible tax felonies.

https://thefederalist.com/2020/09/28/new-york-times-trump-tax-return-bombshell-is-a-joke/
Title: Re: Trump and Taxes
Post by: RoadKingLarry on September 28, 2020, 06:34:11 PM
I think it pretty well falls under the same rules that classified info does. If the publisher didn't acquire the info illegally first hand, i.e. "someone" who might have illegally acquire the info gave it to them freely then they can publish without violation of the law.
Title: Re: Trump and Taxes
Post by: HankB on September 28, 2020, 06:52:50 PM
Biden: "TRUMP HARDLY PAID ANY TAXES AT ALL FOR DECADES!!!!"

Trump: "Joe, that's called TAX COMPLIANCE, and I'd really like to thank you for being such a big part of making the laws covering the tax code for your 47 years in government!"
Title: Re: Trump and Taxes
Post by: Perd Hapley on September 28, 2020, 06:58:30 PM
I think it pretty well falls under the same rules that classified info does. If the publisher didn't acquire the info illegally first hand, i.e. "someone" who might have illegally acquire the info gave it to them freely then they can publish without violation of the law.


But if they find the geezer that leaked the dox...
Title: Re: Trump and Taxes
Post by: DittoHead on September 28, 2020, 07:35:49 PM
How is that not a crime?

Leaking it is a crime, especially if it was an IRS/federal employee. Publishing it is technically against a section in the IRS code, but that hasn't been used in previous instances and would be certainly challenged (and it's a commonly held opinion that it wouldn't hold up, much like the Logan Act).
Title: Re: Trump and Taxes
Post by: just Warren on September 29, 2020, 01:00:44 AM
Libertarians switch to Trump after tax revelations. (https://babylonbee.com/news/trump-approval-rating-skyrockets-after-revelation-he-avoided-paying-taxes)
Title: Re: Trump and Taxes
Post by: MechAg94 on September 29, 2020, 08:40:19 AM
Another thing Trump could point out if it comes up is that he is one of the only politicians in D.C. that is losing money while in office instead of getting richer. 
Title: Re: Trump and Taxes
Post by: Ben on September 29, 2020, 08:54:27 AM
Oh no! Trump is done. NYT just discovered that Trump made money endorsing products, just like all TV celebrities do. $500,000 for endorsing Oreo Double Stuff cookies.  :laugh:

https://twitchy.com/gregp-3534/2020/09/29/hes-finished-the-nyts-2nd-article-on-trumps-taxes-discovers-his-delicious-sources-of-income/

They're contributing to his campaign at this point. This kind of thing doesn't swing sway voters (except maybe in Trump's direction). This is just food for the people who have full blown TDS.
Title: Re: Trump and Taxes
Post by: MechAg94 on September 29, 2020, 09:43:56 AM
I wonder if the TDS that has infected them for a while will overshadow any actual October surprises.  They have claimed to have the goods on Trump a few times before and it amounted to nothing. 
Title: Re: Trump and Taxes
Post by: MillCreek on September 29, 2020, 09:55:33 AM
Privacy Act of 1974 and possibly HIPAA.

Perhaps I missed this, but as someone who does HIPAA for a living, was any healthcare information about the President released?  I thought the NYT story was about tax and financial information.
Title: Re: Trump and Taxes
Post by: freakazoid on September 29, 2020, 11:04:05 AM
I am deeply disappointed that I am the first to post this. https://monsterhunternation.com/2020/09/28/no-you-idiots-thats-not-how-taxes-work-an-accountants-guide-to-why-you-are-a-gullible-moron/?fbclid=IwAR0_568fhWuIgC_9ZyUS8KSaObJTncSqFL94No6gl7pfE8zSa0E7sgb9dzM

Also, his post has exploded and will often not load, like right now.
Title: Re: Trump and Taxes
Post by: cordex on September 29, 2020, 11:25:38 AM
I am deeply disappointed that I am the first to post this. https://monsterhunternation.com/2020/09/28/no-you-idiots-thats-not-how-taxes-work-an-accountants-guide-to-why-you-are-a-gullible-moron/?fbclid=IwAR0_568fhWuIgC_9ZyUS8KSaObJTncSqFL94No6gl7pfE8zSa0E7sgb9dzM

Also, his post has exploded and will often not load, like right now.
This worked for me:
https://webcache.googleusercontent.com/search?q=cache:wLn5WYYWGmEJ:https://monsterhunternation.com/2020/09/28/no-you-idiots-thats-not-how-taxes-work-an-accountants-guide-to-why-you-are-a-gullible-moron/+&cd=1&hl=en&ct=clnk&gl=us
Title: Re: Trump and Taxes
Post by: sumpnz on September 29, 2020, 01:21:39 PM
I am deeply disappointed that I am the first to post this. https://monsterhunternation.com/2020/09/28/no-you-idiots-thats-not-how-taxes-work-an-accountants-guide-to-why-you-are-a-gullible-moron/?fbclid=IwAR0_568fhWuIgC_9ZyUS8KSaObJTncSqFL94No6gl7pfE8zSa0E7sgb9dzM

Also, his post has exploded and will often not load, like right now.

He posted on Facebook about moving to a new host service for his blog because of consistent problems like that.
Title: Re: Trump and Taxes
Post by: MechAg94 on September 29, 2020, 04:23:11 PM
I can't see the NYT story originally posted.  I am hearing that the story itself says Trump actually paid more money than was required and more than the $750 that has been claimed.  Have any of you seen a link that reprints the NYT story?