what does "making hundreds of millions" have to do with anything? do you realize that he paid more in taxes that year, than you and everyone else in this thread combined will pay their entire lives?

That's not a very accurate statement Mark.

I don't know how taxes work in Canada...But watching the business networks today, the consensus was that Trump paid roughly 25% in taxes that year.
Every one of them said that Trump way OVER paid and he needs to get a better accountant.

Just because you see a tax rate and ASSUME that Trump paid less than other people is a fallacy.

NOBODY pays the full rate. The full rate is the starting point before deductions Mark.
It's why I pay an accountant. No way I would ever pay the actual amount with no deductions.

What tax experts are saying is that Trump should have had more aggressive deductions but probably didn't because he was extra conservative with it because of his celebrity and the IRS watching famous people very carefully.

Now that I am thinking about it.... I honestly believe we need to go to some kind of a flat tax. This would eliminate deductions entirely.

To further extrapolate that Trump paid more than he should have:
Op-Ed: Donald Trump just got a nice victory, thanks to, of all people, Rachel Maddow

That is CNBC...another NBC property and sister channel to MSNBC. CNBC is the BUSINESS version.
And even they are saying that Maddow actually HELPED Trump by showing how much he paid and made herself look silly.

I was a "flat tax" guy back in the 1990's. But now that I'm older...I think a national sales tax (excluding food) would be the real way to go.

Why should anybody ever be taxed on how much money they make? It's ridiculous when you really think about it.


But a national sales tax would make more sense.

The more money you make...the more expensive stuff you buy. So billionaires would be paying a lot (unless it was some crazy eccentric billionaire who lives like a homeless bum)

And not only that...but all the "cash only" people like waitress tips, dancers, prostitutes, drug dealers, etc. would then be paying federal taxes too when they spend all that money.

It would also eliminate 12 billion dollars in IRS "expenditures" and we could eliminate that agency.
All we need is the Treasury Dept. to count the money (they already do that...the IRS is just the collection agency).

It would be a win/win across the board.

And people who are frugal and save money would actually be rewarded instead of punished just for earning it in the first place.

It would encourage hard work and ambition as opposed to people worried about their "tax bracket" (you can actually make LESS money after taxes by making MORE money at your job when you are on the cusp of moving up to the next bracket)

I actually favor the flat tax. I'd even be ok with under $1m at 15% and over at 20%.

Consumption makes the most sense to me too. I just fear it wouldn't take long for them to add back in an income tax on top of the higher consumption taxes.

Two pages from a 12 year old return that was "leaked"

this is likely the year he made/paid the most taxes...

This "leak" shows nothing when it comes to sources of income and therefore nothing about Russia either way

Basically its meaningless....if all his returns looked like this why not just release them?

and yeah 150M might seem like a lot but its not even in the stratosphere of the income he boasts about

Sure it is.
He's worth 10 billion total. Making 150 million in just one year is pretty damn good.

Fitty Late Filings :Graucho

??? Her record is horrible, she's full of bluster and misinformation and I hold her personally responsible for brainwashing you. Any other network would have fired her after her pre-election debacle.

thats why mark prince loves her. She tells him fairy tales that affirm the liberal narrative that russia runs the country, trump is hitler, climate change will destroy the earth...

no facts. just shit that makes mark tingly inside. feels good.

:1orglaugh

916M loss on his 1995 return.....so if he did 150M every year in the from 95-2005 he should have broke even. Its pretty obvious he is the one who leaked the return so you gotta think this is one of if not his best years.

Putting 112M in your pocket in one year isn't too shabby, but its not near the levels he boasts about. Go look up what the really wealthy people in this world earn.

Then you look at what he inherited, guy has done nothing special...Paris Hilton has had a better rate of return on her inherited income


Warren Buffet made 37M A DAY last year fyi


For christ sakes Lebron James earned nearly 80M last year for putting a ball in a hoop

Remember, that having a loss doesn't mean that you lost everything you have.

I could be worth a million dollars...then have one of my businesses that would have it's own bank account and money have a bad year and have a loss.

Didn't affect my original million. Didn't affect my other business. But it was a loss. I can now use that loss for taxes (according to how my overall corporation is structured, etc.)

I have no idea how Trump is set up...but I would assume it's done in an efficient way that is best for tax purposes (taxes are one of the biggest expenses for every business).

What I'm trying to say is...you can show a major loss one year when something goes bad. Doesn't mean you are broke, and it doesn't mean you can't make a killing the following year...but it DOES give you all of that loss to write off of your taxes.

It's a simple deduction. And you can break it up into chunks over the years.
My own accountant did the same thing when he got divorced over a decade ago and lost everything.
He was able to write that big loss off over the next several years.

It's more common in the business world than you would think. And of course if you listened to the anchors over at CNN during the campaign you would come away thinking this was something that had never been done before and was borderline criminal activity. :(

I am not saying that...I am saying one 2 page return from 2005 proves absolutely nothing either way...if they all looked like that they would have been released IMO

150M isn't much for a guy who acts like one of the richest men in the world...he boasts more than anyone. Buffet makes that every 4 days lol

I very seldom watch her show but when I have she has not told fairy tales and was very fact based with multiple sources and presented her reports in a very professional and yet entertaining way. One of the very best media commentators in the field. I am satisfied that her employment status is assured, if not for MSNBC, for someone else. My opinion of course.

i agree with you...before trump.

but since trump...she's as fake as the rest of the channel...& last nights broadcast is all the proof i need.

total liberal speculations regarding russia, with nothing. obama has trump wiretapped & they still have nothing.

unless you think last nights show was full of facts...maybe you can find this proof of russian collusion since obamas NSA & rachel can't.

:)

lol speaking of fake...where are the facts on this

total speculation of wire tapping with NO PROOF as usual

Trump should get back to building his fence paid for by US tax payers like he promised

Sad how he directly, and clearly, accuses the last POTUS of committing a felony by having him wiretapped, then immediately cowers away and only lets his 2 spokespeople & GOP congressmen speak on his behalf.

Trump is a cowardly liar

LOL. its only on the cover of NYTimes january 20...

http://cdn.newsbusters.org/styles/bl...?itok=J8I0Qe7o

sorry i guess im posting fake news, right? & the dirt found on flynn, when the recorded conversation was provided to washington post....no wiretap, right?

keep your head in the sand where it belongs, bro.

:1orglaugh:1orglaugh:1orglaugh

That's the funny thing.

The media reports this stuff. THEN, they conveniently "forget" it just a month later...and the people who are so intent on hating Trump go right along with it.

Maybe if some of the anti-Trump people would stand up and say "HEY! You guys reported all of this yourselves! And now you say the opposite. Please explain this to us."

Maybe then the media would start acting like real journalists instead of an extension of the Democrat National Committee

Edward R. Murrow is rolling in his grave as is Walter Cronkite. Both of those guys were extremely liberal in their personal lives. But they took their duty as journalists and leaders of the free press very seriously.

They would have NEVER engaged in the partisan b.s. that has become so accepted in the media today.

This is reminiscent of the "Yellow Journalism" fad of the 1890's.
It's disgusting. :(