The poorest person I know paid more taxes than Trump
....just sayin
shareThe poorest people I know paid more in utility bills than what Trump paid in taxes.
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MovieChat Forums > Politics > The poorest person I know paid more taxe...
Biden has an ad out already https://twitter.com/TeamJoe/status/1310399932067729410
shareWOW ! He needs to play this on a loop in all the red states.
share"Trump's yearly salary is $400,000. Article II of the Constitution requires the president to be paid, so Trump modified his promise to accept just $1 per year. Trump has donated his quarterly salary since taking office."
...JUST SAYIN
He should have kept it
Because he’s $500,000,000 in debt!
Just sayin
An American can do whatever they want with their $400,000 salary....spend it, invest it, save it, or even donate it. They still have to claim it on their income taxes as income, and owe the IRS income taxes on it.
...JUST EDUCATIN'
He is paid monthly. He puts it in an interest bearing account until he donates it every 3-6 months and then claims it as a charitable donation. You know the same thing that the new standardized tax laws no longer allow us common folks to do.
shareTrump is supposedly worth 2 Billion dollars. His $400,000 salary isn't even a fraction of 1% of his net worth. The average worker in America could donate $2 per year and would be giving away a larger portion of their salary.
shareHe's also made many times that 400k back since he's been in office.
For example: He's charging the Secret Service more than 5 million in rent for their office space in Trump Towers. The Service also has specially prepared golf carts (several presidents have been golfers) for their use. Trump won't allow them to be used at Mara Lago. He makes them rent his. And for security reasons they have to reserve them at all times. So they have to pay for them 24-7.
I wonder where else he or his family have been making money.
Let's not forget he's also dismissed his private security force and lets the Service do it for him at public expense.
Can you cite the law that says you have to pay tax on your net worth?
shareI pay twenty times that in federal income tax.
shareYou are aware a business person can legally write off federal taxes if the loss is greater than the profit.
E.g. If your business brought in 5 Mil, but your loss was 4 Mil you wouldn’t pay taxes on the whole 5 Mil. When you itemize you write off expenses if you’re in business. Everyone does!
You cannot equate a poor person’s personal taxes to Trump’s business taxes. FYI: “Alan Garten, an attorney for the Trump Organization, counteracted The New York Times’ claims, saying in a statement that “most, if not all, of the facts appear to be inaccurate,” claiming the Trump has paid millions to the federal government in “personal taxes,” which may refer to taxes like Social Security and Medicare taxes—not income tax.”
“The New York Times has obtained tax-return data extending over more than two decades for Mr. Trump and the hundreds of companies that make up his business organization, including detailed information from his first two years in office. It does not include his personal returns for 2018 or 2019.”
Social Security has a limit so no way did he pay millions into it over a 17 year span. He would still need to pay Medicare taxes. Still though, everyone else pays both and they also pay Federal income tax.
A great businessman wouldn't have more losses than gains over a period of 17 years.
I believe the attorney was referring to his employees FICA taxes. I read something about him paying his employee taxes.
shareEvery company is required to pay FICA taxes for their employees. It has nothing to do with his personal tax return.
shareJeff Bezoz’s Amazon paid zero dollars in federal income tax on $11 billion in before-tax profit in 2018; this year, it will pay $162 million on $13.3 billion in profit.
Also, to repeat if you have major losses when it comes to profit a company can legally write off those losses. The company does not pay taxes on a loss. Trump has major business losses. The $750 is for his businesses. His personal taxes have not been disclosed.
Why would a great businessman have more losses than gains during 12 out of 17 years? He is either a tax cheat or he isn't as great at business as he claims.
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