Author Topic: US Presidential Election 2020  (Read 94872 times)

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Offline Good2Golf

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Re: US Presidential Election 2020
« Reply #625 on: September 28, 2020, 13:04:28 »
With respect, I don’t “need” to watch that.  Lol.

I have no doubt that rich people spend that kind of cash on themselves.  It’s claiming the amount that seems excessive.

We can’t even claim haircuts...

Not about we/you/us/non-US.  It would appear that the IRS allows expenses related to image that includes temporary make-up and hair-styling services.  If those expenses were allowed and approved, so be it. I know people in the entertainment industry and such deductions are regularly seen.

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Offline shawn5o

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Re: US Presidential Election 2020
« Reply #626 on: September 28, 2020, 13:13:27 »
Not  your "average" rich person trying to keep their taxes low.
Seee article below:

Among the key findings of The Times’s investigation:

Mr. Trump paid no federal income taxes in 11 of 18 years that The Times examined. In 2017, after he became president, his tax bill was only $750.

He has reduced his tax bill with questionable measures, including a $72.9 million tax refund that is the subject of an audit by the Internal Revenue Service.

Many of his signature businesses, including his golf courses, report losing large amounts of money — losses that have helped him to lower his taxes.

The financial pressure on him is increasing as hundreds of millions of dollars in loans he personally guaranteed are soon coming due.

Even while declaring losses, he has managed to enjoy a lavish lifestyle by taking tax deductions on what most people would consider personal expenses, including residences, aircraft and $70,000 in hairstyling for television.

Ivanka Trump, while working as an employee of the Trump Organization, appears to have received “consulting fees” that also helped reduce the family’s tax bill.

As president, he has received more money from foreign sources and U.S. interest groups than previously known. The records do not reveal any previously unreported connections to Russia.

It is important to remember that the returns are not an unvarnished look at Mr. Trump’s business activity. They are instead his own portrayal of his companies, compiled for the I.R.S. But they do offer the most detailed picture yet available.

https://www.nytimes.com/2020/09/27/us/trump-taxes-takeaways.html?campaign_id=9&emc=edit_nn_20200928&instance_id=22587&nl=the-morning&regi_id=18656318&section_index=1&section_name=big_story&segment_id=39218&te=1&user_id=2af081e7a0e005fe6179506ac31a697b

Interesting.

But it is illegal for the IRS to leak the personal tax returns of any individual. The Times is probably guarding its sources better than security at Fort Knox.
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Offline Bruce Monkhouse

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Re: US Presidential Election 2020
« Reply #627 on: September 28, 2020, 13:15:09 »
Interesting.

But it is illegal for the IRS to leak the personal tax returns of any individual. The Times is probably guarding its sources better than security at Fort Knox.

Especially if they just made it up on speculation....
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Offline Donald H

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Re: US Presidential Election 2020
« Reply #628 on: September 28, 2020, 13:24:22 »
Not about we/you/us/non-US.  It would appear that the IRS allows expenses related to image that includes temporary make-up and hair-styling services.  If those expenses were allowed and approved, so be it. I know people in the entertainment industry and such deductions are regularly seen.

‘Don’t hate the player, hate the game.’

Ithink you've nailed it! Trump can deduct 100,000 bucks for Melania's hairdoos and likely squeak it by the system. That may seem to be outrageous for a Canadian who hasn't operated a business, but it's really not.

In Canada a business person could give it a try and would only end up being embarressed and being audited for the behaviour. And then be continuously be watched for years to come!

This one comes off as 'haha' funny more than anything else!

 :cheers:
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Offline tomahawk6

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Re: US Presidential Election 2020
« Reply #629 on: September 28, 2020, 13:32:35 »
Trump also did not take his salary as President,something you wouldnt see Biden doing.

Offline QV

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Re: US Presidential Election 2020
« Reply #630 on: September 28, 2020, 13:44:57 »
Not  your "average" rich person trying to keep their taxes low.
Seee article below:

Among the key findings of The Times’s investigation:

Mr. Trump paid no federal income taxes in 11 of 18 years that The Times examined. In 2017, after he became president, his tax bill was only $750.

He has reduced his tax bill with questionable measures, including a $72.9 million tax refund that is the subject of an audit by the Internal Revenue Service.

Many of his signature businesses, including his golf courses, report losing large amounts of money — losses that have helped him to lower his taxes.

The financial pressure on him is increasing as hundreds of millions of dollars in loans he personally guaranteed are soon coming due.

Even while declaring losses, he has managed to enjoy a lavish lifestyle by taking tax deductions on what most people would consider personal expenses, including residences, aircraft and $70,000 in hairstyling for television.

Ivanka Trump, while working as an employee of the Trump Organization, appears to have received “consulting fees” that also helped reduce the family’s tax bill.

As president, he has received more money from foreign sources and U.S. interest groups than previously known. The records do not reveal any previously unreported connections to Russia.

It is important to remember that the returns are not an unvarnished look at Mr. Trump’s business activity. They are instead his own portrayal of his companies, compiled for the I.R.S. But they do offer the most detailed picture yet available.

https://www.nytimes.com/2020/09/27/us/trump-taxes-takeaways.html?campaign_id=9&emc=edit_nn_20200928&instance_id=22587&nl=the-morning&regi_id=18656318&section_index=1&section_name=big_story&segment_id=39218&te=1&user_id=2af081e7a0e005fe6179506ac31a697b

Here is another take:

Quote
Trump may have to pay back that money; an IRS audit and an investigation by the congressional Joint Committee on Taxation are pending. But if he doesn’t, it looks like an alternate headline of the Times story could have been: “Obama Policies Created a $73 Million Tax Refund for Trump.” I trust the Times will next be sending out formal letters of apology to those of us who argued Obama’s stimulus policies were unnecessary, wasteful, and bound to be abused.

https://www.nationalreview.com/corner/obama-wrote-trump-a-73-million-check/


Offline shawn5o

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Re: US Presidential Election 2020
« Reply #631 on: September 28, 2020, 13:47:39 »
Especially if they just made it up on speculation....

Hi Bruce, my bad. I should have mentioned the illegal part is from Breitbart News
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Offline Remius

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Re: US Presidential Election 2020
« Reply #632 on: September 28, 2020, 13:49:46 »
Trump also did not take his salary as President,something you wouldnt see Biden doing.

True. But far from altruistic.  Plays well to the crows though.
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Offline shawn5o

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Re: US Presidential Election 2020
« Reply #633 on: September 28, 2020, 13:53:40 »
Interesting


New York Times Debunks Several Conspiracy Theories with Trump’s Tax Returns

JOEL B. POLLAK
27 Sep 2020

The New York Times‘ exposé on Donald Trump’s tax returns suggests that the president has suffered financial losses for many years, resulting in many years when he paid little or no federal income tax.

The Times speculates that the presidency itself is Trump’s only hope to recoup his losses, either through burnishing his brand or using his political power, ignoring conflicts of interest.

But the Times has also succeeded, albeit inadvertently, in debunking several common anti-Trump conspiracy theories.

(Edit: Russia, Michael Cohen, the IRS Audit)

Yet they also debunk many cherished left-wing fantasies — and they may confirm what Trump supporters have said since 2016: that he has sacrificed his personal fortune to serve.

Breitbart News

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Offline Donald H

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Re: US Presidential Election 2020
« Reply #634 on: September 28, 2020, 14:12:54 »
True. But far from altruistic.  Plays well to the crows though.

The crows! Good one! LOL.

But here's the deal on this thing. Legal or not ain't the point of course.

Feed this to an ordinary American who is struggling to get by (a big factor and related to Americans' poverty) and it rings a bell with them, or at least it's being spun that way by the Dems.

The fact is, from a Dem spin POV, Trump is a very wealthy corporatist who has no concern whatsoever for the people he depends upon for support. The Dems are trying to push that into the heads of Trump's base.
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Offline Blackadder1916

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Re: US Presidential Election 2020
« Reply #635 on: September 28, 2020, 14:18:04 »
I’m no tax expert, but 70K on hair, seems excessive and weird even for your “average” rich person.

Not your average rich person, and definitely not your average hair.  He probably claims it as a dependent.
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Offline shawn5o

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Re: US Presidential Election 2020
« Reply #636 on: September 28, 2020, 15:23:49 »
Ref Trump's taxes- Its getting very interesting


alexandriabrown
@alexthechick

"So. I finally read the NYT Trump tax story because I wanted to see what line was being reported for taxes owed and I came across this about the $750 in 2016 and 2017. Per the NYT own story, Trump actually paid to the US Treasury $1 million in 2016 and $4.2 million in 2017."

and

"Read that closely. Trump PAID, as in transferred to the US Treasury, $1 million in 2016 and $4.2 million in 2017. Note also that most of the overpayment was rolled forward, not refunded. The $750 figure is an ADDITIONAL $750. Thus every single story saying he paid $750 is a lie."

More at https://twitter.com/alexthechick/status/1310558051171262464


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Re: US Presidential Election 2020
« Reply #637 on: September 28, 2020, 15:34:27 »
alexandriabrown
@alexthechick
https://twitter.com/alexthechick

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Offline Donald H

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Re: US Presidential Election 2020
« Reply #638 on: September 28, 2020, 16:57:16 »
Gotta luv her home page: "Boobs and hysteria" with a kinky bonus pic!  :) NSFW!

Amy Barrett is all for naught. The popular opinion now is that they've loaded up their Scotus to the point of it being irrelevant. They can finally abolish Roe vs. Wade and nobody will come to the party they hold to celebrate. Something like 75% of the people fully understand that some abortions are necessary.

It's like telling the husband of a woman who is going to die if her fetus isn't aborted that it's against the god's wishes.

Abortion is wrong and should always be avoided. Socially responsible government understands that priority but also understands that women must not be dictated to on what they choose to do with their bodies.

If only Americans would learn to accept that in the way that most of the modern world accepts it!

Ms. Barrett will load up their court contrary to decency and common sense, as to what is right in the minds of the people.
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Offline Jarnhamar

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Re: US Presidential Election 2020
« Reply #639 on: September 28, 2020, 17:09:49 »
Quote from: Donald H

If only Americans would learn to accept that in the way that most of the modern world accepts it!


That's the thing about being the toughest kid on the block (with most of the modern world be-trodden to you for military protection, military and civilian aid, and straight up handouts).

You don't have to give a crap what other people think.
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Offline Remius

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Re: US Presidential Election 2020
« Reply #640 on: September 28, 2020, 18:37:07 »
Ref Trump's taxes- Its getting very interesting

Yeah it is.  From a security point of view many of Trump’s normal detractors have brought up his liability in having 3 to 4 hundred million dollars in debt to parties unknown.

If we follow the money and it leads to Russia, Turkey or Saudi Arabia it would be cause for concern and explain many many things in this past administration.
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Re: US Presidential Election 2020
« Reply #641 on: September 28, 2020, 18:55:02 »
Yeah it is.  From a security point of view many of Trump’s normal detractors have brought up his liability in having 3 to 4 hundred million dollars in debt to parties unknown.

If we follow the money and it leads to Russia, Turkey or Saudi Arabia it would be cause for concern and explain many many things in this past administration.

And if you follow the money and it leads to Bank of America in Connecticut, then what will be your explanation?
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Offline Retired AF Guy

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Re: US Presidential Election 2020
« Reply #642 on: September 28, 2020, 18:59:13 »


But it is illegal for the IRS to leak the personal tax returns of any individual. The Times is probably guarding its sources better than security at Fort Knox.

May be it didn't come from within the IRS, it may have come from someone within the Trump Organization.
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Offline Remius

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Re: US Presidential Election 2020
« Reply #643 on: September 28, 2020, 19:01:22 »
And if you follow the money and it leads to Bank of America in Connecticut, then what will be your explanation?

That his position on those issues were without any conflict of interest perceived or otherwise as it pertains to his massive debt load. 

But he hasn’t revealed who he owes money to or released his tax info.  Until he does he gets to live  with the cloud of suspicion over his head. 
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Online Weinie

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Re: US Presidential Election 2020
« Reply #644 on: September 28, 2020, 19:07:31 »
That his position on those issues were without any conflict of interest perceived or otherwise as it pertains to his massive debt load. 

But he hasn’t revealed who he owes money to or released his tax info.  Until he does he gets to live  with the cloud of suspicion over his head.

Cloud of suspicion does not equal wrongdoing.
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Offline Remius

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Re: US Presidential Election 2020
« Reply #645 on: September 28, 2020, 19:10:36 »
Cloud of suspicion does not equal wrongdoing.

Absolutely.  I never said otherwise. 

But all of it stinks so far.  Transparency on his part could easily fix the issue.
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Offline Brihard

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Re: US Presidential Election 2020
« Reply #646 on: September 28, 2020, 19:16:02 »

Yet they also debunk many cherished left-wing fantasies — and they may confirm what Trump supporters have said since 2016: that he has sacrificed his personal fortune to serve.

Breitbart News

That’s a bizarre take on it. That’s like saying I sacrificed my ability to dance to serve. No I didn’t; I’ve just consistently sucked at it for a long time.

By all appearances now, if Trump had simply taken the fortune he inherited and invested it conservatively in a mix of blue chip and money market funds, he’d have done far better than pretty much any of his myriad failed and failing business ventures.

Regarding the security risks- that sort of personal debt would kill anyone else’s chance at a security clearance. That kind of personal financial liability is an absolutely huge concern from a security amd reliability standpoint, completey aside from popping myths about his business acumen.
« Last Edit: September 28, 2020, 19:26:47 by Brihard »
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Re: US Presidential Election 2020
« Reply #647 on: September 28, 2020, 19:24:28 »
That’s a bizarre take on it. That’s like saying I sacrificed my ability to dance to serve. No I didn’t; I’ve just consistently sucked at it for a long time.

By all appearances now, if a Trump has simply taken the fortune he inherited and invested it conservatively in a mix of blue chip and money market funds, he’d have done far better than pretty much any of his myriad failed and failing business ventures.

Regarding the security risks- that sort of personal debt would kill anyone else’s chance at a security clearance. That kind of personal financial liability is an absolutely huge concern from a security amd reliability standpoint, completey aside from popping myths about his business acumen.

Yeah, pretty easy to observe on that with the benefit of hindsight.

Another perspective:

 “If you really look closely, most overnight successes took a long time.”

― Steve Jobs
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Offline Brihard

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Re: US Presidential Election 2020
« Reply #648 on: September 28, 2020, 19:28:23 »
Yeah, pretty easy to observe on that with the benefit of hindsight.

Another perspective:

 “If you really look closely, most overnight successes took a long time.”

― Steve Jobs

Indeed. His business failures vary in duration, but some seem to span decades too. It doesn’t look like, in net terms, he has much ‘success’ to claim.

Has a president ever had a couple hundred mil in loans in his own name come due while in office before?
Pacificsm is doctrine fostered by a delusional minority and by the media, which holds forth the proposition it is entirely possible to pick up a turd by the clean end.

Offline Remius

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Re: US Presidential Election 2020
« Reply #649 on: September 28, 2020, 19:31:09 »
Yeah, pretty easy to observe on that with the benefit of hindsight.

Another perspective:

 “If you really look closely, most overnight successes took a long time.”

― Steve Jobs

The issue is that he portrayed himself as a very successful businessman now and back then.  What the times piece seems to show is that he was a successful celebrity and invested his fortune in terrible deals.  Or at least for the last 15 years and somehow got himself into a 300-400 million dollar debt load.  It gets hard to not see any issues with that.

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