Trump paid less in taxes than a household that makes 20k per year

[LAUGHatLEFTISTS]

LOL. What is it that you think Trump is afraid of letting everyone see his tax returns? Audits???..no one, not even Trump gets audited for 20 years continuously. Illegalities??...no. The IRS would have thrown the clamp on him years ago if that was the case. They want their money. It's because his tax returns are an embarrassment to his built up legacy of his master of the Art of the Deal. He doesn't want anyone to see that he's a massive fraud, writing off massive losses. We know he's already a failure as a businessman. But if people actually get to see how much money he's lost over the years, his persona will be gone in a puff of smoke.

Otherwise, he would have released them. Like EVERY OTHER political candidate and major office holder has before him.
Is there ANYTHING you sycophants won't excuse when it comes to your savior?

You poor thing. You fell for it again! Here’s a tip so you don’t get duped yet again in 2024 . After the election is over in November the dems and their media wing will drop the whole tax thingy until the next election.

 

[LAUGHatLEFTISTS]

If you don't like the tax law and loopholes your piticians have created, contact them, demand they change them, demand they get rid of the loopholes, and demand Democrats pay their taxes.

Remember how Obama promised to have the smoothest transition evuh ... and then struggled for months to get any Cabinet members approved because almost every nominee had not paid their taxes for years, ironically to include Sect of the TREASURY, lil' Timmy Geithner?!

Silly Billy doesn’t remember because :
A) CNN and his other “news” sources wouldn’t tell him.

B) He accidentally stumbled on the truth but his leftard brain immediately blocked it forever.

 

[Frankeneinstein]

Let this be a lesson in tax politics. The wealthy and corporations are not “taxed enough already” because they do not pay the OFFICIAL tax rate. They pay an EFFECTIVE tax rate.

Trump paid $716 in federal taxes in 2016 and 2017. The average 20k household plays more than $800. Those making between 50k and 75k pay an average of 5k in taxes.

“Real estate offers some unique tax advantages, mainly the ability to write off depreciation against income. It’s common for a real estate investor to show a loss on their income tax return while receiving positive cash flow for the year.

Fractional real estate investors also receive similar benefits. The investment platform Arrived Homes, known for letting investors buy shares of rental properties with as little as $100, paid out $47,000 in dividends to investors in 2021, but only about $2,800 was considered taxable income. The rest was nontaxable return of principal.

That means Arrived Homes investors collectively only needed to report $2,800 in taxable income, despite receiving $47,000 in dividends. Arrived Homes has already paid out $303,000 in dividends so far in 2022 and investors will likely get another nice break come tax time next year.

Another likely reason for Trump’s low tax bills is the use of a tax loss carryforward. Companies such as The Trump Organization can carry losses over from one year to offset taxes in subsequent years. Trump used this strategy after realizing nearly $1 billion in losses in the early 1990s. He was able to carry those losses over each year until 2005.”

How Donald Trump Paid Less In Taxes Than A Household Earning Only $20,000 Per Year

Donald Trump has taken a lot of heat over the years about his income taxes or, more specifically, his ability to get out of paying what most would consider his fair share. Trump has kept a tight grip on his tax returns, becoming the first president in 40 years not to release them to the public...

finance.yahoo.com

lol...I liked it better when ya thought the J6 committee was on to something.
or the impeachment committees, or that special prosecutor guy or the mar-a-lago closet caper etc. etc. etc...I think it's time to order a new gadget from ACME...get the rocket powered roller skates this time, that should be hilarious

 

[Whodatsaywhodat.]

And that's why he doesn't want people to see his tax returns. Massive losses written off. They would show him as a fraud.
The guy who wrote the Art Of The Deal, laid bare as little better than a real estate scam artist.
Trump's persona gone in a puff of smoke.

Expert Says Despite Constant Allegations Against Him, Donald Trump Will Most Likely Never be Charged with a Crime | Wild Orchid Media | NewsBreak Original

Most experts agree that despite the best efforts of his detractors, it is highly unlikely that Donald Trump will ever be charged with a criminal offense of any kind. Facing an almost constant barrage of accusations, some of which carry at least some semblance of verisimilitude, and many which...

share.newsbreak.com

 

[jc456]

Let this be a lesson in tax politics. The wealthy and corporations are not “taxed enough already” because they do not pay the OFFICIAL tax rate. They pay an EFFECTIVE tax rate.

Trump paid $716 in federal taxes in 2016 and 2017. The average 20k household plays more than $800. Those making between 50k and 75k pay an average of 5k in taxes.

“Real estate offers some unique tax advantages, mainly the ability to write off depreciation against income. It’s common for a real estate investor to show a loss on their income tax return while receiving positive cash flow for the year.

Fractional real estate investors also receive similar benefits. The investment platform Arrived Homes, known for letting investors buy shares of rental properties with as little as $100, paid out $47,000 in dividends to investors in 2021, but only about $2,800 was considered taxable income. The rest was nontaxable return of principal.

That means Arrived Homes investors collectively only needed to report $2,800 in taxable income, despite receiving $47,000 in dividends. Arrived Homes has already paid out $303,000 in dividends so far in 2022 and investors will likely get another nice break come tax time next year.

Another likely reason for Trump’s low tax bills is the use of a tax loss carryforward. Companies such as The Trump Organization can carry losses over from one year to offset taxes in subsequent years. Trump used this strategy after realizing nearly $1 billion in losses in the early 1990s. He was able to carry those losses over each year until 2005.”

How Donald Trump Paid Less In Taxes Than A Household Earning Only $20,000 Per Year

Donald Trump has taken a lot of heat over the years about his income taxes or, more specifically, his ability to get out of paying what most would consider his fair share. Trump has kept a tight grip on his tax returns, becoming the first president in 40 years not to release them to the public...

finance.yahoo.com

I really wish you idiots knew what money is actually taxed! Remain stupid

 

[Blues Man]

Let this be a lesson in tax politics. The wealthy and corporations are not “taxed enough already” because they do not pay the OFFICIAL tax rate. They pay an EFFECTIVE tax rate.

Trump paid $716 in federal taxes in 2016 and 2017. The average 20k household plays more than $800. Those making between 50k and 75k pay an average of 5k in taxes.

“Real estate offers some unique tax advantages, mainly the ability to write off depreciation against income. It’s common for a real estate investor to show a loss on their income tax return while receiving positive cash flow for the year.

Fractional real estate investors also receive similar benefits. The investment platform Arrived Homes, known for letting investors buy shares of rental properties with as little as $100, paid out $47,000 in dividends to investors in 2021, but only about $2,800 was considered taxable income. The rest was nontaxable return of principal.

That means Arrived Homes investors collectively only needed to report $2,800 in taxable income, despite receiving $47,000 in dividends. Arrived Homes has already paid out $303,000 in dividends so far in 2022 and investors will likely get another nice break come tax time next year.

Another likely reason for Trump’s low tax bills is the use of a tax loss carryforward. Companies such as The Trump Organization can carry losses over from one year to offset taxes in subsequent years. Trump used this strategy after realizing nearly $1 billion in losses in the early 1990s. He was able to carry those losses over each year until 2005.”

How Donald Trump Paid Less In Taxes Than A Household Earning Only $20,000 Per Year

Donald Trump has taken a lot of heat over the years about his income taxes or, more specifically, his ability to get out of paying what most would consider his fair share. Trump has kept a tight grip on his tax returns, becoming the first president in 40 years not to release them to the public...

finance.yahoo.com

EVERYONE pays an effective tax rate.

No one is taxed on 100% of their income and everyone is eligible for one tax deduction or another.

For example people with children pay a lower EFFECTIVE tax rate than people without children

 

[Billy000]

EVERYONE pays an effective tax rate.

No one is taxed on 100% of their income and everyone is eligible for one tax deduction or another.

For example people with children pay a lower EFFECTIVE tax rate than people without children

But obviously it matters if the effective rate rich people pay is next to nothing in federal taxes lol

 

[Blues Man]

But obviously it matters if the effective rate rich people pay is next to nothing in federal taxes lol

people with no income don't have to pay income taxes.

The so called rich people you speak of do pay taxes when they receive income from their investments.

Anyone with a W2 reported income is subject to the same tax laws as everyone with a W2 reported income

 

[Likkmee]

Take it up with the IRS.

I only pay taxes at the liquor store and gas station

 

[The Duke]

We're not talking about every wealthy person in America. We're talking about Trump. A failure. Real Estate. Business. Politics.
A man built on a persona of smoke and mirrors. When he's a giant fraud.

But keep lapping it up. It makes me smile.

Failures mean write-offs, bruh. New to the American tax system or something?

 

[mikegriffith1]

Let this be a lesson in tax politics. The wealthy and corporations are not “taxed enough already” because they do not pay the OFFICIAL tax rate. They pay an EFFECTIVE tax rate.

Trump paid $716 in federal taxes in 2016 and 2017. The average 20k household plays more than $800. Those making between 50k and 75k pay an average of 5k in taxes.

“Real estate offers some unique tax advantages, mainly the ability to write off depreciation against income. It’s common for a real estate investor to show a loss on their income tax return while receiving positive cash flow for the year.

Fractional real estate investors also receive similar benefits. The investment platform Arrived Homes, known for letting investors buy shares of rental properties with as little as $100, paid out $47,000 in dividends to investors in 2021, but only about $2,800 was considered taxable income. The rest was nontaxable return of principal.

That means Arrived Homes investors collectively only needed to report $2,800 in taxable income, despite receiving $47,000 in dividends. Arrived Homes has already paid out $303,000 in dividends so far in 2022 and investors will likely get another nice break come tax time next year.

Another likely reason for Trump’s low tax bills is the use of a tax loss carryforward. Companies such as The Trump Organization can carry losses over from one year to offset taxes in subsequent years. Trump used this strategy after realizing nearly $1 billion in losses in the early 1990s. He was able to carry those losses over each year until 2005.”

How Donald Trump Paid Less In Taxes Than A Household Earning Only $20,000 Per Year

Donald Trump has taken a lot of heat over the years about his income taxes or, more specifically, his ability to get out of paying what most would consider his fair share. Trump has kept a tight grip on his tax returns, becoming the first president in 40 years not to release them to the public...

finance.yahoo.com

Well, we'd better be really careful about modifying tax breaks for commercial real-estate investors because those investors sometimes suffer huge losses (often through no fault of their own). Those tax breaks were passed and continued by Democrat-controlled Congresses because they recognized that such tax breaks are necessary to encourage commercial real-estate investment.

I agree that some of the ways that Trump used the tax laws were unethical, and that such misuse of tax law should be prosecuted and made impossible by tax code reform.

 

[Woodznutz]

“Real estate offers some unique tax advantages, mainly the ability to write off depreciation against income. It’s common for a real estate investor to show a loss on their income tax return while receiving positive cash flow for the year.

As properties rarely actually depreciate in value depreciation taken during ownership is "recaptured" upon the sale of the property. Many commercial property owners don't want to take this tax feature but are required to by the IRS.

Depreciation Recapture: Definition, Calculation, and Examples

Depreciation recapture is the gain realized by the sale of depreciable capital property that must be reported as ordinary income for tax purposes.

www.investopedia.com

 

[Lastamender]

Let this be a lesson in tax politics. The wealthy and corporations are not “taxed enough already” because they do not pay the OFFICIAL tax rate. They pay an EFFECTIVE tax rate.

Trump paid $716 in federal taxes in 2016 and 2017. The average 20k household plays more than $800. Those making between 50k and 75k pay an average of 5k in taxes.

“Real estate offers some unique tax advantages, mainly the ability to write off depreciation against income. It’s common for a real estate investor to show a loss on their income tax return while receiving positive cash flow for the year.

Fractional real estate investors also receive similar benefits. The investment platform Arrived Homes, known for letting investors buy shares of rental properties with as little as $100, paid out $47,000 in dividends to investors in 2021, but only about $2,800 was considered taxable income. The rest was nontaxable return of principal.

That means Arrived Homes investors collectively only needed to report $2,800 in taxable income, despite receiving $47,000 in dividends. Arrived Homes has already paid out $303,000 in dividends so far in 2022 and investors will likely get another nice break come tax time next year.

Another likely reason for Trump’s low tax bills is the use of a tax loss carryforward. Companies such as The Trump Organization can carry losses over from one year to offset taxes in subsequent years. Trump used this strategy after realizing nearly $1 billion in losses in the early 1990s. He was able to carry those losses over each year until 2005.”

How Donald Trump Paid Less In Taxes Than A Household Earning Only $20,000 Per Year

Donald Trump has taken a lot of heat over the years about his income taxes or, more specifically, his ability to get out of paying what most would consider his fair share. Trump has kept a tight grip on his tax returns, becoming the first president in 40 years not to release them to the public...

finance.yahoo.com

When you know more about tax law than anyone else you can do that.

 

[Woodznutz]

Without the business tax allowances there would be very little economic growth, and the government would have so much money that social programs would explode, leading to widespread sloth and indolence among the people.

 

[sartre play]

ALWAYS hold those with positions of money & power, Too a higher standard of conduct honesty & hard work.

 

[Flash]

Nobody in the US making $20K annually pays any federal income tax so the premise for the thread is a lie.

In fact over half the people in the US don't pay ANY federal income tax.

Typical Moon Bat lies.

 

[Woodznutz]

Nobody in the US making $20K annually pays any federal income tax so the premise for the thread is a lie.

Not true. A single person, under age 65, with no dependents would pay some taxes.

$20,000 income
-12,950 Standard deduction.
=$7,050 taxable income
x 10 % tax rate
=$705 tax due.

 

[Flash]

Not true. The tax rate for people earning $20,000 or less is 10 percent, after deductions are taken. One would have to have $20,000 in deductions to have zero tax.

Trump is married so he is in entitled to a standard deduction of $25.9 meaning he would not have to pay any income tax if he was only making $20K a year, which makes the premise for this thread bogus.

 

[Canon Shooter]

Let this be a lesson in tax politics. The wealthy and corporations are not “taxed enough already” because they do not pay the OFFICIAL tax rate. They pay an EFFECTIVE tax rate.

Trump paid $716 in federal taxes in 2016 and 2017. The average 20k household plays more than $800. Those making between 50k and 75k pay an average of 5k in taxes.

“Real estate offers some unique tax advantages, mainly the ability to write off depreciation against income. It’s common for a real estate investor to show a loss on their income tax return while receiving positive cash flow for the year.

Fractional real estate investors also receive similar benefits. The investment platform Arrived Homes, known for letting investors buy shares of rental properties with as little as $100, paid out $47,000 in dividends to investors in 2021, but only about $2,800 was considered taxable income. The rest was nontaxable return of principal.

That means Arrived Homes investors collectively only needed to report $2,800 in taxable income, despite receiving $47,000 in dividends. Arrived Homes has already paid out $303,000 in dividends so far in 2022 and investors will likely get another nice break come tax time next year.

Another likely reason for Trump’s low tax bills is the use of a tax loss carryforward. Companies such as The Trump Organization can carry losses over from one year to offset taxes in subsequent years. Trump used this strategy after realizing nearly $1 billion in losses in the early 1990s. He was able to carry those losses over each year until 2005.”

How Donald Trump Paid Less In Taxes Than A Household Earning Only $20,000 Per Year

Donald Trump has taken a lot of heat over the years about his income taxes or, more specifically, his ability to get out of paying what most would consider his fair share. Trump has kept a tight grip on his tax returns, becoming the first president in 40 years not to release them to the public...

finance.yahoo.com

I can understand how this would raise some eyebrows.

But, please, tell me: What law(s) did he break?

 

[Jim H - VA USA]

Trump is married so he is in entitled to a standard deduction of $25.9 meaning he would not have to pay any income tax if he was only making $20K a year, which makes the premise for this thread bogus.

Yep. The household of two would actually get $198 back from the Earned Income Credit, even though they paid no taxes whatsoever.