and you have a law degree from where?I personally think that writing off loss over longer period was a reasonable change.So liberals are happy that rich people are taking tax cuts set up by Obama? Since Bush gave tax cuts to the rich until Obama repealed them and to this day we hear about the tax cuts. There is no difference between tax cuts and tax credits and deductions. The effective tax rate is what matters, it is the bottom line on the taxes one pays. It's called talking out both sides of the mouth.OP is a red herring, thats what I'm talking about.The OP is about people mainly liberals upset that Trump is taking legal deductions that Obama approved during his administration. That is what I commented on.We can talk about the legal tax structure, but thats only a small part of it with Trump.Simple truth. The rich are provided tax credits, deductions and cuts by every administration since Bush I. Reagan and Speaker O'Neal were the last to a lot of deductions and loopholes out of the tax codes. Since then Congress has slowly added more and more and Presidents have gone along on it.
The rich is writing the tax codes for the rich, who do you think will benefit? It's an area where the two parties agree.
The rich that claim they want to pay higher taxes have the opportunity not to and they don't, they choose to pay only what they owe. People bitchin about lower tax rates say nothing about the huge loopholes the government provides the rich for tax avoidance, it is all legal.
Trump needs to pay what he is legally entitled to and no more. Trump is under no obligation to show his taxes and I have no issue with him not showing his taxes. The government can investigate his taxes if they wish and probably do. If in the future people are really want candidates to show their taxes, they can pressure Congress to write a law, otherwise it is just a stupid tradition.
You may feel the OP is a Red Herring, I don't believe it is. What government does for the rich is of legitimate concern to all Americans. Disagree all you like.
Bussiness loss can easily wipe out many years of gains. 4 years is a reasonable window to write down those losses.
But again, the case against Trump is not primarily about legal loopholes, but rather illegal avoidance and huge conflicts of interest. These are not someone's "feelings" as you want to talk about it.
When Cohen testified that Trump undervalued his assets to minimize his tax liability, thats not taking advantage of the loopholes, thats fraud.