Trump Plan Cuts Taxes for Millions

[idb]

You think you could turn 150m into 20b? It's more likely you'd lose it all.

He would have had as much money today if he'd simply invested it in index funds.

In an outstanding piece for National Journal, reporter S.V. Dáte notes that in 1974, the real estate empire of Trump's father, Fred, was worth about $200 million. Trump is one of five siblings, making his stake at that time worth about $40 million. If someone were to invest $40 million in a S&P 500 index in August 1974, reinvest all dividends, not cash out and have to pay capital gains, and pay nothing in investment fees, he'd wind up with about $3.4 billion come August 2015, according to Don't Quit Your Day Job's handyS&P calculator. If one factors in dividend taxes and a fee of 0.15 percent — which is triple Vanguard's actual fee for an exchange-traded S&P 500 fund — the total only falls to $2.3 billion.

It's hard to nail down Trump's precise net worth, but Bloomberg currently puts it at $2.9 billion, while Forbes puts it at $4 billion. So he's worth about as much as he would've been if he had taken $40 million from his dad and thrown it into an index fund.

Donald Trump isn't rich because he's a great investor. He's rich because his dad was rich.

At minimum he made enough to cover his spending habits. Because your math says he's worth the same now as he was then.

So did I...and I'm worth more than I was then.
That makes him a dummy and a loser.

 

[Campbell]

You think you could turn 150m into 20b? It's more likely you'd lose it all.

He would have had as much money today if he'd simply invested it in index funds.

In an outstanding piece for National Journal, reporter S.V. Dáte notes that in 1974, the real estate empire of Trump's father, Fred, was worth about $200 million. Trump is one of five siblings, making his stake at that time worth about $40 million. If someone were to invest $40 million in a S&P 500 index in August 1974, reinvest all dividends, not cash out and have to pay capital gains, and pay nothing in investment fees, he'd wind up with about $3.4 billion come August 2015, according to Don't Quit Your Day Job's handyS&P calculator. If one factors in dividend taxes and a fee of 0.15 percent — which is triple Vanguard's actual fee for an exchange-traded S&P 500 fund — the total only falls to $2.3 billion.

It's hard to nail down Trump's precise net worth, but Bloomberg currently puts it at $2.9 billion, while Forbes puts it at $4 billion. So he's worth about as much as he would've been if he had taken $40 million from his dad and thrown it into an index fund.

Donald Trump isn't rich because he's a great investor. He's rich because his dad was rich.

At minimum he made enough to cover his spending habits. Because your math says he's worth the same now as he was then.

So did I...and I'm worth more than I was then.
That makes him a dummy and a loser.

Dummy might be a little strong but he's definitely a clown. When I was a youngster 65 years ago I remember guys like him when a carnival came to town.

 

[Oldstyle]

Also the republicans since they have been in have lowered the funding for the Irs, so now less people are getting audited. Levy just wrote a report on that. Of course the rich would prefer them work short staffed so they can't audit some of them. Levy said this is going to loose a lot of money. They really need to start auditing these TV preachers and non profits more. Get rid of the rich, let them go and live somewhere else.

Baby Bush did the same thing. Hell, he cut taxes dramatically, while starting two wars and adding part D to Medicare! Now, THAT'S what I call fiscal responsibility!

Baby Bush did the same thing. Hell, he cut taxes dramatically, while starting two wars and adding part D to Medicare! Now, THAT'S what I call fiscal responsibility!

Daddy Bush did Nafta, and baby Bush did Cafta. that really helped with American jobs.

Oh, so you want Lois Lerner back at the IRS?

Get rid of the rich? God, there is naive...and then there is just plain stupid.

I think the IRS should target specific groups if they see fit. It would only bother someone if they are hiding and cheating. Trump wants to target wall street. Yes if the wealthy don't like their taxes let them go elsewhere. These elites are not going to bring jobs back, so tax them out of their pocket, if they want to live here.

the Gop just recently bitched about the Irs targeting adoptive parents, and not getting much back. There are by the way too many non profit , think tanks, and organizations in the US, that yes the elites use to lauder their money.

Were you referring to the Clintons, Penelope?

 

[Penelope]

Also the republicans since they have been in have lowered the funding for the Irs, so now less people are getting audited. Levy just wrote a report on that. Of course the rich would prefer them work short staffed so they can't audit some of them. Levy said this is going to loose a lot of money. They really need to start auditing these TV preachers and non profits more. Get rid of the rich, let them go and live somewhere else.

Baby Bush did the same thing. Hell, he cut taxes dramatically, while starting two wars and adding part D to Medicare! Now, THAT'S what I call fiscal responsibility!

Baby Bush did the same thing. Hell, he cut taxes dramatically, while starting two wars and adding part D to Medicare! Now, THAT'S what I call fiscal responsibility!

Daddy Bush did Nafta, and baby Bush did Cafta. that really helped with American jobs.

Oh, so you want Lois Lerner back at the IRS?

Get rid of the rich? God, there is naive...and then there is just plain stupid.

I think the IRS should target specific groups if they see fit. It would only bother someone if they are hiding and cheating. Trump wants to target wall street. Yes if the wealthy don't like their taxes let them go elsewhere. These elites are not going to bring jobs back, so tax them out of their pocket, if they want to live here.

the Gop just recently bitched about the Irs targeting adoptive parents, and not getting much back. There are by the way too many non profit , think tanks, and organizations in the US, that yes the elites use to lauder their money.

Were you referring to the Clintons, Penelope?

Yep, them too, something fishy there.

 

[Oldstyle]

So why didn't the IRS investigate the Clinton Foundation and are you calling for them to do so now?

 

[Penelope]

So why didn't the IRS investigate the Clinton Foundation and are you calling for them to do so now?

Maybe they ran out of money do to rep cuts.

 

[Oldstyle]

So why didn't the IRS investigate the Clinton Foundation and are you calling for them to do so now?

Maybe they ran out of money do to rep cuts.

Ah...so they spent it all investigating everyone with "Patriot" in their names?

 

[Penelope]

So why didn't the IRS investigate the Clinton Foundation and are you calling for them to do so now?

Maybe they ran out of money do to rep cuts.

Ah...so they spent it all investigating everyone with "Patriot" in their names?

Good.

 

[Oldstyle]

So why didn't the IRS investigate the Clinton Foundation and are you calling for them to do so now?

Maybe they ran out of money do to rep cuts.

Ah...so they spent it all investigating everyone with "Patriot" in their names?

Good.

So you're OK with the IRS being used by people in power against their political opponents? I ask that Penelope because I don't think you've really thought about what a dangerous precedent that is. Richard Nixon was forced to resign (and rightfully so!) when he tried to do that back in the day...it was wrong then and it's STILL wrong today.

 

[Penelope]

So why didn't the IRS investigate the Clinton Foundation and are you calling for them to do so now?

Maybe they ran out of money do to rep cuts.

Ah...so they spent it all investigating everyone with "Patriot" in their names?

Good.

So you're OK with the IRS being used by people in power against their political opponents? I ask that Penelope because I don't think you've really thought about what a dangerous precedent that is. Richard Nixon was forced to resign (and rightfully so!) when he tried to do that back in the day...it was wrong then and it's STILL wrong today.

any new group I'm ok with, and yes the Irs can investigate who they want. What should they do draw straws? I know the tea parties are upset, and the GOP is using this to the max, along with the VA and Hillary's emails. Maybe they are hacking the emails. So far they have cut funding for the IRS and the EPA, two organizations they do not like. What about defense spending, never hear about that do we.

 

[Oldstyle]

So why didn't the IRS investigate the Clinton Foundation and are you calling for them to do so now?

Maybe they ran out of money do to rep cuts.

Ah...so they spent it all investigating everyone with "Patriot" in their names?

Good.

So you're OK with the IRS being used by people in power against their political opponents? I ask that Penelope because I don't think you've really thought about what a dangerous precedent that is. Richard Nixon was forced to resign (and rightfully so!) when he tried to do that back in the day...it was wrong then and it's STILL wrong today.

any new group I'm ok with, and yes the Irs can investigate who they want. What should they do draw straws? I know the tea parties are upset, and the GOP is using this to the max, along with the VA and Hillary's emails. Maybe they are hacking the emails. So far they have cut funding for the IRS and the EPA, two organizations they do not like. What about defense spending, never hear about that do we.

So you don't have a problem with the IRS being used by people in power to hamstring their political opponents? Really, Penelope? Because I do. I look beyond partisanship and understand that when the people in power can start to use the power of government agencies like the IRS and the EPA to punish those that they don't like that we've taken a giant step away from Democracy. That is a bad thing no matter what your political views are!

 

[Baron]

The lower tax are the more jobs will created , that's easy.