Donald Trump

People Are Missing the Point on Trump's Tax Returns

The U.S. tax code should be front and center.

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The New York Times on Sunday caused a stir with their report on President Donald Trump's tax liability, or lack thereof. The analysis notes that Trump, whose net worth is estimated at $2.5 billion, "paid no income taxes at all in 10 of the previous 15 years," and paid only $750 in both 2016 and 2017.

The story will likely come up during tonight's presidential debate, and the consensus among the media and liberals broadly is that this is yet more evidence of Trump's sketchy behavior. But focusing on Trump's approach to reducing the amount he owes in taxes misses the larger point, which is that Trump's returns are merely a symptom of a complex tax system that incentivizes filers to sniff out every legal strategy for reducing their tax burdens.  

For context, let's begin with Trump's business model, which goes something like this: Launch several businesses, many of which hemorrhage millions of dollars each year, and use the publicity from those businesses to make money on personal branding. The latter is highly profitable, earning Trump $427.4 million between 2004-2018. The losses from the former—his hotels and resorts for instance—are then used to largely offset his tax liability.

The Times' report does erode the savvy businessman brand Trump has sought to cultivate for himself, both commercially and as a candidate for office. The president is not necessarily the astute entrepreneur he claims to be, though he may be uniquely skilled at making money by wasting money. His most high-profile business successes—his golf courses—have reportedly lost $315 million since 2000. The Trump International Hotel in Washington, D.C., just opened in 2016, has already lost $55 million, both numbers according to the Times.

Losing money for a living is certainly an unorthodox business model, but that doesn't make it illegal. 

Trump's deductions don't stop there, however. There's also the $9.7 million tax credit Trump claimed to renovate the Old Post Office building in Washington, D.C., which would later become the aforementioned Trump hotel. That fell under the historic preservation tax clause, an entirely legal tax incentive meant to encourage the redevelopment of old structures. 

It could be legally problematic, or just another revealing symptom of U.S. tax law, that Trump has claimed millions of dollars in unspecified consulting fees on various business projects, which typically amounted to 20 percent of his income, according to the Times. Ivanka Trump was allegedly the recipient of hundreds of thousands of dollars in such consulting fees. The president also declared $1.4 billion in business losses in 2008 and 2009. An IRS audit is ongoing.

"Any good tax lawyer or accountant will give options to their client. Some of them will be clearly legal, clearly allowable," says Joseph Bishop-Henchman, Vice President of Policy & Litigation at the National Taxpayers Union Foundation. "And then there's gray area stuff," he continues, noting that the "payments to the [Trump] kids," as well as the $1.4 billion backward-looking net operating loss, may be a stretch.

It is also true that the wealthy almost always pay a hefty tax bill. Someone of Trump's worth, that is, a person in the top 1 percent of all earners, would usually shell out more than a third of his income in taxes.

But as Bishop-Henchman reminds us, much of the behavior outlined by the Times report is not only legal but was enshrined by our lawmakers to encourage certain behaviors. He mentions the tax credits Trump received for the Old Post Office building renovation: "Congress wrote that law, and they made it available," he says. "And it's been on the books for 40 years, and it's been used to rehabilitate tens of thousands of historic properties. When you write stuff on the books, billionaires are going to use it, and they're going to use it to bring their tax liability down."

Our tax code, which Bishop-Henchman says was written in the style of a "phone book," is replete with overly complex rules and regulations meant to influence the public's economic behavior. Former Vice President Joe Biden is no stranger to this. "I have nothing against Amazon," he wrote in June of 2019, "but no company pulling in billions of dollars of profits should pay a lower tax rate than firefighters and teachers. We need to reward work, not just wealth." The tech behemoth paid no federal taxes in 2018 after making use of legal tax incentives established by Congress, of which Biden was a member for 36 years. For example, Amazon invested $22.6 billion in research and development in 2017, something the legislature hopes will spur job creation and economic growth.

"It's this conflict between we want to use the tax code to incentivize all these things," says Bishop-Henchman. "And then we get upset when people use them very well."

NEXT: Will These Lawsuits End Trump's Tariffs? More Than 3,500 U.S. Companies Hope So.

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  1. So you’re saying he paid no income taxes on his net worth?

    Scandalous!

    1. Democrats think so.

      1. ML,

        As do the Cosmotarians, apparently.

        1. Who are Cosmotarians? Are they related to Munchkins?

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    2. I don’t care what someone is worth or what they earn OR what they pay in taxes so long as they have done it legally and play fairly. The pretense is that because someone else has a bigger piece of the pie, it deprives others of that same pie. Bullshit. Go out and make your own damn pie or preferably, STF up about the pie. Quit worrying about what everyone else has.

      My neighbor makes more than I do, but takes a child tax credit and a mortgage interest deduction. I don’t have kids at home and my house is paid off. It is not within the role of government to pay for someone’s kids or refund part of someone’s mortgage payment, but it’s the law and I have no quarrel with them using it. Hell, I have a few socialist acquaintances who call me every year about how to pay lower taxes. Now there’s some irony! It’s legal and yet people only bitch about it when someone else does it when they cannot.

      Don’t like the law? Then vote for people who will change the law, but also understand that changing the law will have other consequences, including unintended ones. It doesn’t become legitimate political fodder just because your political enemy does it.

      In the meantime, let’s remember that Joe Biden also voted FOR much of what he will complain about tonight.

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    4. The real scandal is with zero income, write-offs equal to or exceeding income, how exactly does Trump live? Food? Housing? Clothing? $75K hair care, health care, school for Barron etc.
      Either he dips into his savings or he is deducting things that he shouldn’t be allowed to (or borrowing more money).

      BTW, on personal income tax, how do you carry loss over from year to year to year?

      1. There’s no ‘real scandal’. Trump is able to live because he doesn’t have zero income. His carried over losses exceeds his income, reducing his tax burden to zero. He still has all that income to use.

        If your loss is large enough in a given year, you can carry over that portion which exceeds your income. If that portion is larger than your income the following year, it offsets the income for that year, and the remainder can be carried over. There are certainly details that I’m unaware of, because I haven’t ever had a large enough loss to completely offset my income for the following year.

        What’s really the issue here is that people who don’t make huge sums and suffer huge losses generally don’t know how that affects one’s taxes. So, while it’s likely that he’s already paid a whole lot of taxes in acquiring sufficient assets to be able to afford those losses, the Democrats can point to specific years and say, “Look, he’s not paying any taxes,” and people will believe them.

  2. I don’t think people are missing the point. I think the New York Times whiffed the point, and everyone seems to get it.

    1. Not everyone. The usual TDS victims are just sure they got him this time.

      1. See below; Jackass and Tony for starters.

      2. Oh, and it’s surprising that WK hasn’t checked in; the TDS is STRONG there.

    2. +1000000

    3. The point is, Biden, given his position as a federal senator and the length of time he was in it and the direct impact he had on the federal tax code for 40 years, is more responsible for the amount Trump is required to pay in federal tax payments than almost anyone else in government today.

  3. The complex tax code is notable, but not the point.

    The point is the press lying to the American people to aid the totalitarian left gain absolute power.

    There has never been a greater crime committed against the American people than the covid19 bullshit.
    There must be blood.

    1. Is this also a parody account?

      1. Are you?

        http://twitter.com/seanmdav/status/1311023271400402947?s=19

        BREAKING: On July 26, 2016, U.S. intel authorities learned that Russian intel knew of Hillary Clinton’s plans to cook up a scandal alleging that Trump was working with Russia. Obama was personally briefed on Russia’s knowledge of Clinton’s plans.

        1. Today’s declassification confirms that from the beginning, the FBI knew its anti-Trump investigation was based entirely on Russian disinformation. Brennan and Comey were personally warned. They responded by fabricating evidence and defrauding the courts. https://t.co/WduEKYOAPg

        2. He’s not a parody account, he’s an idiot account:

          Serenity Now
          September.29.2020 at 12:29 pm
          For the same reason they stopped giving patients thalidomide once they discovered it was harmful.

          WHOOPS!!!!! Thalidomide is still FDA approved and used in the USA.

          1. It was obvious I meant pregnant women, because it causes birth defects. Of course you knew this. But since you don’t actually have a good argument, you resort to this. You guys really have very poor debating skills. It’s all name calling and other stuff straight out of kindergarden.

            1. So pointing out you were wrong is a bad debate skill?

              Make correct arguments next time. You’re just backtracking.

              1. No, I think I am done here. You guys are pretty pathetic and frankly kinda dumb.

                1. “No, I think I am done here. You guys are pretty pathetic and frankly kinda dumb.”

                  Getting called on bullshit tends to generate that additional bullshit.

                2. Translation: “I didn’t have an argument and got told, so now I’m going to stalk away mad.”

            2. You meant what you said. And you can be certain that I meant what I said.

    2. “There has never been a greater crime committed against the American people than the covid19 bullshit.”

      This.

      At least in modern times.

  4. “But focusing on Trump’s approach to reducing the amount he owes in taxes misses the larger point, which is that Trump’s returns are merely a symptom of a complex tax system that incentivizes filers to sniff out every legal strategy for reducing their tax burdens.”

    Point taken. But, what is the proposal here? A tax code that incentivizes people to sniff out legal strategies to increase their tax burdens? Or, alternatively, a tax code that does not contain any incentives at all?

    What is Reason suggesting?

    1. Reason’s position is clear (though you do have to read the article above in context with other articles published over the years). They want a simpler tax code that does not distort the market. In other words, yes, a tax code that contains few if any “incentives” at all.

      1. Is it possible to have a tax code that does not “distort” the market? Or, are we only talking about various degrees of distortion relative to others?

        1. If you want to be a purist, any tax code will distort the market somehow. The mere decision to tax income vs wealth drives different behaviors. Our current tax code, however, is way past those theoretical concerns. Our current tax code doesn’t even pretend to be neutral. It intentionally distorts the market.

          So yes, in one sense we are talking about degrees. But in a larger sense, a “good” tax code might unintentionally distort the market (unfortunate side-effect to be mitigated if possible) but it will not distort by design.

          1. Fair enough.

      2. Here’s a pretty simple tax code. Taxation is theft. Taxation of personal income is illegal.

        1. That’s a simple rule. Now tell me how we will pay for the goods and services that government provides.

          Note: I will freely concede that government should be a lot smaller and the goods and services drastically reduced. But libertarians are not anarchists. We all agree that there are some things the government should do (even if we do not agree on what those things are). However small that list is, you have to pay for it. If “taxation is theft”, where does the money come from?

          1. The only alternative would be voluntary contribution, which is not an alternative at all.

              1. For the same reason that people go to great lengths to minimize their tax liabilities under the current system — that is, because they can.

              2. For the same reason the New Soviet Man never showed up; people act in their own self interest.

    2. Without answering for Reason, this is why a consumption tax (nat’l sales tax, VAT– however you want to describe it) would solve this so-called Trump Problem.

      Taxing income is at best, highly problematic and at worst, downright immoral. Taxing property and/or assets is even worse, because it takes all the problems of an income tax and then adds in a massive dose of subjectivity…

      But if Donald Trump paid *something* everytime he made a purchase (which we assume Trump does to… you know, survive), he’d actually be paying something into the treasury.

      1. No, taxing consumption or income are the worst taxes, because verification is incredibly intrusive, requires huge intrusive corrupt bureaucracies, and just begs the politicians to tinker with it.

        The least intrusive tax is a property tax, because all it really requires is that the tax be paid, which can be handled anonymously. Assessing the value can be intrusive, but not nearly as much as income or sales taxes. And VAT? Worse than a standard sales tax because it requires that same intrusion at all levels of production and sales.

        Property assessment can possibly be even less intrusive with self-assessed valuations which limit the sale price: any sale at the self-assessed value requires choosing one buyer at random from everyone offering that same price.

        1. Property taxes are far more evil, because then no property can truly be owned by a citizen. Fail to pay the tax, and they take your property.

          1. That is not a given. The government will take your property for any damned reason they want, see Civil Asset Forfeiture, or prosecutorial overcharging to tempt settlements leaving you destitute.

            It’s also simple to fix: forbid confiscation of property, or require it be sold at auction and all the excess goes to the seller.

            It’s not related to being a property tax. Hold out on income tax, or paying sales tax, and see what happens.

        2. Death tax. This country was founded in opposition to divine birthrights. Want to make sure your money gets paid to your spouse, children, and grandchildren after your death? Pay the piper. Don’t like it? Go die in some other country. Otherwise, never in your entire life will you be taxed and you are free to accumulate and spend as you see fit.

      2. Consumption taxes are also deeply regressive.

        We can argue about whether a tax structure should be progressive and, if so, by how much. But basically nobody argues that it should be deliberately regressive.

        1. The thing about regressive taxes is there is at least some incentive to keep them low enough for ‘the poor’ to afford, but government doesn’t want to live on that budget.

        2. I do. If we have taxes at all, everyone should pay the same amount. It’s obviously the fairest system.

        3. People claim consumption taxes are regressive, but that’s because of statistical sleight of hand. Let’s say we have a 10% sales tax and three people, Bill, Bob, and Sam.

          Bill makes a steady $50k a year and spends all of it. He pays $5k a year in sales tax. Over two years he paid $10k in sales tax.

          Bob does not have a steady income. He made $20k last year and borrowed $30k to make ends meet, and spent it all. He paid $5k in sales taxes. This year was a better year and he made $80k. He used $30k to pay off the loan and then spent the other $50k. He paid $5k in sales taxes.

          Same also does not have a steady income. Last year he made $70k. He spent $50k and saved the other $20k for a future bad year. This year was a bad year. He only made $30k, which he spent all of, along with the $20k he saved from last year.

          So here you have six income vs sales tax datapoints. You have a $20k income datapoint that paid a whopping 25% of income in sales tax, you have a $30k datapoint that paid 16.7% of their income in sales tax, have two $50k earning datapoints that paid 10% of income in sales tax, you have a $70k income that paid 7% of income in sales tax, and you have an $80k income that paid only 6.2% of their income in sales tax.

          People who describe sales tax as regressive inevitably completely ignore the effects of savings and credit, which both make sales tax appear to be much more regressive than it is. A lot of people save money to spend later, and Americans LOVE credit, so one wouldn’t expect either of these to be small effects, but to the best of my knowledge none of the studies of sales tax against income actually account for these effects. (Presumably because they are all done by people who want to make sales tax seem bad and the word regressive, which is actually completely neutral from a moral value standpoint, carries a negative connotation for people who describe themselves as progressive.) In this example, the sales tax isn’t actually regressive at all. Three people each made $100k and paid $10k in taxes. It’s just that the data, when analyzed the way people who analyze this sort of data do it, lies to you.

        4. The Left is pushing for forgiving college debt, which is a deeply, DEEPLY regressive thing. Allow high school grads to pay for Ph.D student’s debt.

          1. Well said! You win the internet today.

    3. you see loopholes. I see “remaining freedoms.”

      1. I’m not sure I’d describe “I’ll take less of your money if you do what I want you to do instead of what you want to do” as “Freedom”.

  5. If only people paid attention to the US Tax Code at times other than when politicians are promising to throw things in it to buy their votes.

  6. One thing that’s odd to me, that people seem to be glossing over, too. The Times article says that in 10 of the 15 years they looked at, Trump paid no taxes at all. They also say that he paid $750 each in 2 more of them. And then they ALSO say that he averaged paying $1.4 million in annual taxes over that same period.

    So, $1.4m x 15 years = $21 million total, and there’s only 3 years left in that 15 year period where they think he paid $0 or $750.

    Did he just piss off his accounting firm in those years, or what?

    1. Often the IRS requires payment up front and then taking losses over a period of time. Whatever the case is he was audited. Apparently if you follow the tax code even one as complex as ours you still get dinged by Democrats. They wrote it, refined it, and then shit all over it. It’s like watching some sad clown show of old liberals and new lefties trying to out do one another in absurdity.

    2. When you’re running a business you can’t postpone your profits forever. If you never have any profits it’s reclassified as a hobby.

      But of course the headlines report the 11 of 15 years no taxes!
      And 750 buckets! But not the millions paid in the other years.

      1. If you never have any profits it’s reclassified as a hobby.

        That’s exactly what happened to my dad’s auto shop – “Oh, you didn’t make any money? Well, you can’t write off all those tools, then . . . ”

        I think he should have demanded a refund on all the payroll taxes he paid, since it was only a hobby, but he was young and naïve.

    3. One year he paid $97M.

      In 2011 he claimed a $72M refund against that payment.

      Surprisingly, he is being audited for that return…

      1. Your cite went missing; care to see if you can find it?

  7. This kind of story always tickles me! The usual parasites have voted themselves a cornucopia of benefits, expecting to fob the cost off on someone else, presumably, The Rich.

    Now they’re pissing their pants because they’ve just found out their going to be paying for those bennies themselves, the rich having shrewdly slid out of reach of the taxman.

    There’s nothing funnier than an angry parasite! I just love these kind of stories!

    1. Yes, indeed!
      ‘Hey, I wanted to tax the shit out of all those people of whom I’m jealous, and they figured out how to game it!’
      Up yours, pal…

  8. It is possible to be cash flow positive and show a “loss” for tax purposes.

    1. especially in real estate

  9. My biggest concern from the NYT’s report is Trump’s $400 million in outstanding debt – -to whom? Turkey, Deutsche Bank, the Russians? Pelosi is right, it’s a national security risk that would disqualify any other public official from a security clearance. Other than that, the NYT just reconfirms that T is a lousy, dishonest businessman, who is recklessly driving his businesses, as well as the country, into bankruptcy.

    1. Why be?
      Plenty of physicals assets to sell to cover debts.

      Be more worried about the NSA agent living and working in the DC area and his 600k mortgage for a 1 bedroom closet.

    2. Oh my god, Trump’s companies owe debt?!?! Clearly there must be something illegal going on. It certainly has nothing to do with his commercial real estate holdings valued in the hundreds of millions.

    3. “…Pelosi is right, it’s a national security risk that would disqualify any other public official from a security clearance. Other than that, the NYT just reconfirms that T is a lousy, dishonest businessman, who is recklessly driving his businesses, as well as the country, into bankruptcy.”

      Full of shit with a serious case of TDS besides; to be ignored.

      1. Why is he full of shit? Why does he have TDS?

        1. “Why is he full of shit? Why does he have TDS?”

          You’d have to ask him, you bigoted piece of lefty shit.

    4. The NYT will never dig deep enough to discover the hidden tax of payoffs and bribes that Trump was forced to pay over the decades to zoning commissioners, building inspectors, city council members, and mayors in return for construction permits. All those payoffs are disguised in the tax returns under EXPENSES.

  10. If Obama or Clinton owed 400 million what wold conservatives say?

    And no mention of the one of the few things where Trump’s in the right? Mocking Mormons. At least he’s smart enough to know what they blieve is utter nonsense. Fuck Mormons and their magic underwear.

    1. If Obama or Clinton owed 400 million what wold conservatives say?

      I don’t really consider myself conservative, but if Obama or Clinton owed 400 million, considering their lack of any businesses that they run I would wonder what they had done with all that money, and I would have questions regarding how they’re going to raise the revenue to pay it back.

      When a businessperson with revenue-generating enterprises doesn’t owe any money, that’s called being “underleveraged.” It’s often good financial sense to carry as much debt as you can afford – time-value of money, and all.

      So in this case, it’s not actually about political partisanship – it’s about the fact that what would be a concerning amount of debt in a career politician would be an unsurprising amount of debt for someone in real estate development.

    2. At least he’s smart enough to know what they blieve is utter nonsense. Fuck Mormons and their magic underwear.

      I see – I was wondering what your tick is with Mormons – you think hating Mormons makes you the type who rejects “utter nonsense.”

      It doesn’t.

      1. “you think hating Mormons makes you the type who rejects utter nonsense.

        It doesn’t.”

        Hating Mormons doesn’t make one smart, and not hating Mormons doesn’t make one not smart. However anyone looking at what they believe and coming to any other conclusion than “that’s really goddamn stupid” would make me question their intelligence.

        What Mormons believe is really fucking stupid. If they don’t voluntarily stop knocking on doors and breeding like goddamn rabbits than others need to stop them before they ruin our country.

        Ridiculing and harassing Mormons is a patriotic duty of all Americans who care about this country’s future.

        1. Fuck off and die, bigoted lefty shit.

          1. Are you LDS Sevo? It would explain your lack of intelligence and cousin fucking.
            Thanks for your insightful comment!

            1. “Are you LDS Sevo? It would explain your lack of intelligence and cousin fucking.
              Thanks for your insightful comment!”

              You’re welcome, you bigoted piece of lefty shit. Fuck off and die; the world and your family will thank you.

    3. “If Obama or Clinton owed 400 million what wold conservatives say?”

      Probably none of their business, lefty shit.

  11. The tax code should indeed be a topic of discussion, as somebody in Trump’s position should not be able to get out of paying his share of taxes.
    But the primary problem in this case is that Trump does not come close to contributing his share to maintain the system by which and his family have profited immensely. It is yet another demonstration that Trump is totally barren of any ethics, decency or patriotism.
    And he’s a terrible businessman on top of that.

    1. Hey Buttplug, when was the last time Biden donated his salary back to the federal government like Trump? Asking for a friend…

    2. Ethical, decent and patriotic businessmen all hire accountants to pay the minimum legally required taxes, as is fair and good. Trump is no different.

      Someone in Trump’s position? He has no income in those years, obviously he owes no income taxes and is under no obligation to pay any.

      He’s wealthy and owns a lot of property? He’s paying property taxes through the nose, and income taxes for his employees, and sales taxes when he buys stuff for his business, so yes, he’s “contributing” to government revenues.

    3. MidnightMike

      Full of shit with a raging case of TDS.
      Fuck off and die; make the world a better place.

      1. Don’t listen to Sevo. He’s a fascist, inbred troll

  12. >>complex rules and regulations meant to influence the public’s economic behavior.

    and people are surprised the Elite don’t pay income taxes. repeal the 16th

  13. “The Times’ report does erode the savvy businessman brand Trump has sought to cultivate for himself”

    In other words, fool me once, shame on me! Fool me twice, shame on me for being an idiot! Fool me a third time, call me a Trump supporter!

    1. Yeah ya got it, by Jove!

      https://www.theatlantic.com/ideas/archive/2020/09/trumps-tax-returns-proves-he-just-another-moocher/616516/

      Trump Just Lost Control of the Game
      His tax returns dispel all his pretensions to wealth and sacrifice, and his reelection campaign is running out of time.

      An EXCELLENT read! Complete with Trump quotes and broken promises! But if’n ye DO read it, ye are a MARXIST!

      1. Fuck off, Sqrlsy.

    2. “In other words, fool me once, shame on me! Fool me twice, shame on me for being an idiot! Fool me a third time, call me a Trump supporter!”

      No, IOWs, you are full of shit with a serious case of TDS.
      Make the world a better place; fuck off and die. Slowly and painfully.

    3. “In other words, fool me once, shame on me! Fool me twice, shame on me for being an idiot! Fool me a third time, call me a Trump supporter!”
      Lefty lies and assertions =/= ‘argument’, lefty shit.

  14. Leona? Paging Leona?

    Mash Letter from The Donald to Leona Helmsley

    Roses are red,
    Violets are blue,
    Won’t you come here,
    And join My Crew?
    Won’t you please join My Quest?
    The honest taxpayers, to molest?
    I like to collect babes, as if they were Cocker Spaniels,
    You’d look quite nice, right next to Stormy Daniels!
    You’d be quite sexy, in My YUUGE harem,
    With my BIGLY contributors, I like to share ‘em!
    “Taxes are for the little people”
    For a campaign slogan, it sounds GREAT!
    Won’t you help Me fool the greedy sheeple?
    To their suffering, you and I, we could masturbate!
    Brad Parscale, My old campaign pal,
    Wants to kill himself, what killer style!
    Won’t you stay with Me a while,
    And be My campaign gal?

    1. Fuck off, Sqrlsy.

  15. Were there any possibility of criminality regarding Trumps Taxes the Democrats would have gone all out back in 2015/16 in the election campaign. There has never been anything to go with – and history usually shows that such audits disclose the IRS actually owes money to the target. This is another nothing burger, a last minute lie embraced by the DNC and Deblasio.

    1. that’s why they’re grasping at the 400M debt, trying to fool people into thinking Trump is going broke (while simultaneously claiming he’s rich beyond imagining and ought to be paying millions more in taxes), and liable to sell the country down the river if only someone will give his sons a deal similar to the one Biden’s son got.

  16. Candidates release their tax papers so that voters know whether they are a tax cheat or otherwise corrupt or compromised. That is the point. Trump has more suspicion over his head than any candidate in history, which, under these norms, means releasing his papers was more important than ever. At least this time voters will be informed by some measure of facts instead of Trump’s shameless lies.

    Why aren’t his lies the point? Why isn’t his compromise and corruption the point? If you want to reform the tax code then politicians and special interests have been sinking their claws into it for decades. Trump being the worst human is the point, which might be relevant to voters when he’s on a ballot.

    1. Tony,

      I truly feel that most voters are incapable of understanding the complexities of Trump’s returns.

      1. There is not any reason to engage Tony. He’s a steaming pile of lefty shit who, very rarely, and usually by mistake, manages a post absent some mendacity or other.

    2. How do you know he’s a tax cheat? Or is it that you think he’s not paying his “fair share?” Comparing a real estate investor (Trump and your local landlord) to a W2 employee (the majority of folks, including teachers and firefighters in Biden’s example) is idiotic. W2 earners pay income taxes while real estate investors pay – get this – real estate taxes. Lots of real estate taxes. And they also pay sales tax and employee taxes on some of their assets (hotels, casinos, golf courses, resorts). Don’t immediately fall for the narrative here. I’m not saying there isn’t any fraud but that’s far from known based on what’s been made public.

      1. He’s possibly a tax cheat and a money launderer. There are millions of totally unaccounted for dollars for his inauguration alone. Brad Parscale almost killed himself after this news broke. I’m sure we’re all in favor of as much transparency as possible.

        1. “I’m sure we’re all in favor of as much transparency as possible.”

          On the surface, I’m not opposed to transparency. But that works for both sides. Hold Democrats (Pelosi, the Clintons, the Bidens) to the same standard.

        2. Tony is possibly a child murderer and pedophile.

          1. beat me to it.

          2. And a cannibal, don’t forget that he’s a cannibal.

              1. And possibly a goat-fucker.

        3. “He’s possibly a tax cheat and a money launderer.”

          You’re possibly a goat fucker.

      2. Keeping in mind that at best he is not a tax cheat but simply the worst businessman alive on planet earth and the single brokest American.

        1. “worst businessman alive on planet”
          *Turned a couple of million into 2.5 billion currently*
          Lol, okay.

          “single brokest American”
          Neat how you don’t understand how debts and assets work, but here you are, fifty-centing like a champ.

          1. This is beneath even you. Trump really could shoot someone couldn’t he? What about 200,000 people?

            1. “…What about 200,000 people?”

              The newest lefty propaganda:
              ‘Trump is to blame for the wu-flu!’
              NY deaths (thanks, Cuomo, you pile of shit!): 32,743
              Stuff that bullshit up your ass so your head has some company.

            2. “What about 200,000 people”

              Hey Tony you lying piece of shit.

              A month ago I asked you how is the president responsible for Covid deaths that result from measures that are the responsibility of States, and you continually refused to answer.
              You want to explain now? or are you going to try and redirect the conversation again?

            3. Also I noticed you didn’t answer my points but tried to redirect the conversation to Covid deaths.

              You’re such an obvious shill.

              1. It’s not fair to talk about the worst thing Trump has done among 500 worst things!

                1. “It’s not fair to talk about the worst thing Trump has done among 500 worst things!”

                  That might be true, but your idiocy has yet to identify one.

        2. “As of September 2020, Donald Trump has an estimated net worth of around $4 billion. He made his billion-dollar empire as a businessman and succeeded his father. He also earned handsomely when he worked for television. His annual salary was $60 million for his show ‘The Celebrity Apprentice’.”

          Yep really ‘broke’ there, you scummy pile of lefty shit

    3. a tax cheat or otherwise corrupt or compromised
      He was under audit by the IRS for the last six years and they never found anything. Which is evidence that he’s squeaky clean, because most agents would love to to be the guy that “got” Trump.

      Trump has more suspicion over his head than any candidate in history
      Only because you guys put them there.
      Watch: “Tony robs orphanages to obtain money to feed his meth and murderous childporn addictions.”
      There. Now you have suspicions over your head too.

      1. “Trump has more suspicion over his head than any candidate in history”

        Translated from lefty:
        “We many up more lies about Trump than we ever did before!!!!”

        1. Correction:
          “We *made* up more lies about Trump than we ever did before!!!!”

      2. Whoa! Tony robs orphanages? I think we should investigate where that money went. Meth cannot be THAT expensive.

    4. Biden and Clinton both get their income from S corps and LLCs that they control.

      Transparency!

  17. Actually Billy, you are the one missing the point.

    It is a felony to leak personal tax returns. The irs requires very personal information from citizens to manage a legal tax system. Here, we have federal employees selectively leaking private information, solely for political purposes. This is an egregious insult to all citizens and hacks like yourself happily shrug it off.
    People should be in jail for this. The NYTs also,likely committed multiple felonies….unless of course they are just lying.

    1. It isn’t the evil-doers who are at fault, it is the tattle-talers who TELL ON the evil-doers! SHUT UP the malcontents who BREAK THE RULES by saying that the Emperor has no clothes, and we will ALL be MUCH better off!

      1. So where is the crime Trump is being accused of? This is not whistleblowing. This is committing felonies for politcal propaganda purposes. And slaves like you drool in pleasure.

        1. Is EVERYONE who hasn’t committed obvious crimes a splendid candidate for POTUS? It isn’t the criminality I worry about, because, in the era of ten quadrillion contradictory laws, criminality is no longer clear at ALL!

          Read THIS to understand why I say that “the Emperor has no clothes”! (Vote the evil-doer out of office, and I have NO further need for revenge or punishment!)

          https://www.theatlantic.com/ideas/archive/2020/09/trumps-tax-returns-proves-he-just-another-moocher/616516/

          Trump Just Lost Control of the Game
          His tax returns dispel all his pretensions to wealth and sacrifice, and his reelection campaign is running out of time.

          An EXCELLENT read! Complete with Trump quotes and broken promises!

          1. Fuck off, Sqrlsy.

        2. So where is the crime Trump is being accused of?

          Sqrls lies a lot so he won’t have an actual answer to this.
          Instead he’ll try to change the subject or post some irrelevant copypasta.

          Watch:

          1. So long as the drunk under the bridge is NOT credited with clearly-proven crimes, the Mamma is TOTALLY on board with electing Drunk Under Bridge to RULE US ALL! This is “clear thinking” according to Mamma!

            Be naked all you want to be, Naked Emperor! Just don’t expect me to support Your Emperorshit!

            1. See, everyone. Just as I said.

              1. Moron can’t refute what I say! What a surprise!

                1. ‘Moron can’t refute what I lie about.’
                  Fuck off and die, spaz

      2. The evil-doer in this case is the individual who decided to break the law to disclose private tax return data. It’s not evil to minimize the taxes you are legally required to pay, it’s good business sense.

        1. “It’s not evil to minimize the taxes you are legally required to pay…”

          Just don’t expect honest, generous, non-chintzy taxpayers to vote for Leona Helmsley or Donald Trump!

          I would be DELIGHTED to see The Donald just GO AWAY and stop being POTUS, telling us all what to do! I do NOT seek revenge or punishment, beyond “punishing” The Donald by taking away His Emperor Punish-Us-All bludgeoning sticks!

          1. You’re miserable.
            Do yourself a favor and end it all.

            1. Hey Nadless Nardzi the Nasty NAZI… You are a Holocaust denier just like Rob Misek! Two peas in a pod, you and Rob Misek are!
              Do you deny what the NAZIs did? Perhaps not, I do not know HOW far your evil goes! You strut in front of a mirror wearing NAZI gear for all I know!

              What I DO know is that you ignore the roots of NAZI, and other, evil, mass-murdering authoritarianism! You, like Hitler and the NAZIs and other evil authoritarians, start out by assuming that YOU know whose life is worthy, and whose is not! Then you move on to sterilization and killing! It all starts out by denying the value of other human lives! And if you can’t or won’t see and acknowledge that, you’re a deluded and EVIL Holocaust denier, same as Rob Misek!

              You and and your fuckbuddy, Shitsy Shitler, also run around telling people to commit suicide! I have NEVER been THAT evil! Nor even THOUGHT about saying that to people! Take stock of your SERIOUSLY FUCKED UP SOUL, Evil One Junior! Start by reading this: M. Scott Peck, the Hope for Healing Human Evil, https://www.amazon.com/exec/obidos/ASIN/0684848597/reasonmagazinea-20/

              1. Fuck off and die, spaz.

              2. Fuck off, Sqrlsy.

          2. “Just don’t expect honest, generous, non-chintzy taxpayers to vote for Leona Helmsley or Donald Trump!”

            ITT, SQRSLY admits to never taking any deductions on his taxes. Ever. Not the personal one or anything.

        2. Hahaha. Oh lord the libertarians. The real enemy is the leaker! Jesus Christ.

          If there’s nothing to see here, there’s nothing to see here. Why panic? Surely you’re aware that Hannity and his fellow rightwing cucks will have all this propagandized as a nothingburger and, hey look at the scary blacks!

          1. “…The real enemy is the leaker!..”

            Yes.
            The only criminal activity in the entire brouhaha remains the criminal who leaked private information.
            Trump has done nothing other than scrupulously obey the law, and lefty shits are PISSED! And liars besides.

          2. Tony’s flailing.

            After all those promises there’s nothing illegal and no secret Russian deals in Orange Hitler’s taxes.

            All he can do now is squeal about Fox and drag out his strawmen.

  18. I’m still waiting on Biden to produce the tax returns for his “S” corporations.

  19. Yeah, there’s way more to personal tax returns than what’s easily understood by most folks reporting on this. Partnerships and S Corps. being just one of many things. I see a ton of tax returns for my job and unequivocally, taxable income does not remotely equal cash flow. Similarly, income taxes owed is based on earnings, not cash flow or personal wealth.

  20. The tax system could use a lot of simplification, but if you expect someone to pay income taxes when their business has no net income, you’re crazy.

    The NYT/loony left was hoping to find A) tax cheating (not found), B) Russian influence (not found), or C) low taxes paid, which proves Trump is not successful businessman. They got only the third one, which didn’t prove anything.

    If Trump isn’t making any income, why the outrage that he paid no income taxes? It makes no sense, except as a back door to propose a wealth tax, which is nuts.

    1. And if Trump isn’t really as rich as he says he is, why cry that he’s not paying taxes like a rich person?

    2. When Trump is rich, it’s a bad thing.

      When Trump is poor, it’s a bad thing.

  21. Just the latest attempt at Reason to bend over backwards in a convoluted way to dismiss Trump behavior. Yes Billy, the tax code is too complicated. It’s been known for years, and neither party does much to change it.

    But thanks for the pedantic admonishment that we don’t get the point. We all do. But There’s a number of issues here that require attention beyond the code.

    1. Trump is a con man (you disagree?). He has already used the office of President for financial gain through his Trump properties. It doesn’t have to be illegal. It’s simply outrageous.
    2. There are a couple things that every President understood since the 70s. Tax returns are supposed to be released and you should divest from any financial holdings or put them in a blind trust. He refused. Is your preference that a law is written to provide legality, or would you prefer just to call him on it rather than ignore it? You choose to ignore it.
    3. Anyone getting a security clearance has to provide detail on debts. And this quaint (to you) notion exists because there is a history of such people being bought. That debt could be in the thousands of dollars for attention. Trump? It’s $420M. Worried about that potential Billy, or just the tax code?
    4. Tell me Billy, do you think it’s possible for another country to offer Trump a deal…cancel that debt he owes us, or we buy that debt to other countries in return for favorable policy toward us? Think the con man would do it? Do you think that’s something harmful to our country?
    5. And lastly, is your assumption that all those ridiculous deductions are legal? That the appearance of that illegality itself is a problem?

    I can guarantee you one thing…if those returns were from Obama, your hair would be on fire.

    1. I for one am glad that Trump is the best President in US History thanks to Lefties.

      1. Have you noticed that some people are constantly hyperventilating about the stuff Trump is supposed to do in the future that never happens? Or the stuff they know he did that he didn’t do?

        1. They are psychotics

          1. Do you recall the awesome enchanter named “Tim”, in “Monty Python and the Search for the Holy Grail”? The one who could “summon fire without flint or tinder”? Well, you remind me of Tim… You are an enchanter who can summon persuasion without facts or logic!

            So I discussed your awesome talents with some dear personal friends on the Reason staff… Accordingly…

            Reason staff has asked me to convey the following message to you:

            Hi Fantastically Talented Author:

            Obviously, you are a silver-tongued orator, and you also know how to translate your spectacular talents to the written word! We at Reason have need for writers like you, who have near-magical persuasive powers, without having to write at great, tedious length, or resorting to boring facts and citations.

            At Reason, we pay above-market-band salaries to permanent staff, or above-market-band per-word-based fees to freelancers, at your choice. To both permanent staff, and to free-lancers, we provide excellent health, dental, and vision benefits. We also provide FREE unlimited access to nubile young groupies, although we do firmly stipulate that persuasion, not coercion, MUST be applied when taking advantage of said nubile young groupies.

            Please send your resume, and another sample of your writings, along with your salary or fee demands, to ReasonNeedsBrilliantlyPersuasiveWriters@Reason.com .

            1. You got me: I’m persuaded.

              1. So you’re emailing your stuff to ReasonNeedsBrilliantlyPersuasiveWriters@Reason.com ?

                I look forward to your regular column!

                1. Fuck off, Sqrlsy.

                2. Fuck off and die, spaz; make your family proud. And your dog happy.

                  1. Brilliant and witty! Did your mommy help you write that?

                    1. Fuck off and die, spaz; make your family proud. And your dog happy.

        2. “Have you noticed that some people are constantly hyperventilating about the stuff Trump is supposed to do in the future that never happens? Or the stuff they know he did that he didn’t do?”

          Or the stuff that, first, they claim he did, and then, one sentence later, berate him for not doing?
          TDS affects many senses and organs, but the brain damage seems the most obvious.

    2. …if those returns were from Obama…

      I’m pretty sure that sword cuts both ways.

      1. But that sword never had a chance to cut Obama’s way. Just the con man, Trump.

        1. If the sword did cut that way, you wouldn’t have a problem with the tax returns.

          1. Projecting your own nihilistic rightwing psychopathy onto others won’t save you.

            1. Only Superman can save me.

            2. Tony’s stuck with calling names now. That’s all he’s got.

              1. An improvement from his regular lying.

        2. “…Just the con man, Trump.”
          Hint:
          Lefty assertions and lies do not qualify as ‘argument’, jackass.

    3. Oh, goodie! A post from a guy who can’t spell Jackass!

      “1. Trump is a con man (you disagree?).”
      Yes, the term has a specific meaning and nothing Trump has done to make you and other lefty shits drool on your keyboards is anywhere close.

      “2. There are a couple things that every President understood since the 70s….”
      Jackass: “TRUMP OBEYED THE LAW!!!!! SHAME ON HIM!!!!!!!”
      Wipe the drool off your chin, Jackass.

      “3. Anyone getting a security clearance has to provide detail on debts…”
      Jackass: “TRUMP OBEYED THE LAW!!!!! SHAME ON HIM!!!!!!!”
      Wipe the drool off your chin, Jackass.

      “4. Tell me Billy, do you think it’s possible for another country to offer Trump a deal…
      Jackass drags a hypothetical around, hoping someone will buy his bullshit! No one does, Jackass.

      “5. And lastly, is your assumption that all those ridiculous deductions are legal? That the appearance of that illegality itself is a problem?”
      Jackass assumes the IRS did not look at Trump’s returns. Jackass is stupid that way along with many, many other ways.

      “I can guarantee you one thing…if those returns were from Obama, your hair would be on fire.”
      Your “guarantee” is worth the same as the rest of your steaming pile of shit: Nothing.
      Fuck off and die, you pathetic excuse for a human.

  22. Trump voters don’t care that he has never released his tax returns and the Lefties hate that.

    1. Oh. You missed the point, not surprisingly. I was addressing true libertarians. Which NEVER would equal Trump voters. You’re excluded. Have a great evening!

      Best,
      Jack

      1. As a libertarian, I don’t give a shit about Trump’s taxes. There’s a whole bureaucracy administering and enforcing the terrible tax code. All the people crying about it are getting ready to vote for a guy who spent decades writing the shitty tax code.

        1. You should give a shit about what it means for his election prospects and perhaps try harder next time to have a Republican candidate who’s not literally the worst person alive.

          But since the party is in a death spiral of utter incompetence and fecklessness and relying on cheating and white racial resentment to even stay alive, I suspect we may find the actual worst person next time and Trump will be just another RINO on the heap.

          1. “You should give a shit about what it means for his election prospects and perhaps try harder next time to have a Republican candidate who’s not literally the worst person alive. ”
            Leave Obo out of this, shitstain.

          2. a Republican candidate who’s not literally the worst person alive
            Couldn’t happen because you’re already literally the worst person alive, Tony.
            I don’t know of any Republicans that boast about hating children, Christmas and fun, like you do. You’re like a fucking cartoon villain.

          3. Tony, strong phrases and emotions are an enemy of the civil debate. You did not present any arguments. You sound like a socialist. I can tell, I grew up in a socialist country.

            1. I doubt he’s an actual socialist, just a dumb lefty shit who has no idea of the results of what he claims to desire. Further, I doubt he has any real concept of what the term means as applied to a general population; we are not dealing with anyone of even average intelligence here.
              Tony is a product of government schools and assumes that some bullshit promise that ‘we’ll all be equal’ means other than ‘we’ll all be in poverty’.
              This is an un-schooled lefty shit wishing reality is other than it is. Grow up, shitstain. Your mommy lied to you.

              1. Good to hear that the great Tony disagrees. I must be on to something if I don’t have Tony’s approval.

      2. “Oh. You missed the point, not surprisingly. I was addressing true libertarians. Which NEVER would equal Trump voters. You’re excluded. Have a great evening!”
        As if that pile of shit would fool anyone, Jackass. It’s a clear illustration of your ignorance, combined with your stupidity.
        Oh, and a raging case of TDS.
        Fuck off and die.

    2. I am neither of those and I don’t care either.

  23. Taxation is theft.

    Ignore the long winded bullshit above.

  24. So Trump operates like hedge fund…honestly look at Wall Street and the banks…they pretty much operate the same but with public backstopping. We knew what we got with Trump four years ago. I would like to know how many of the ex presidents or for that matter any “well connected” politico somehow leaves DC and makes millions in regulated industries like old Rahm or for that matter how is Obama worth $130M? They are all corrupt to the bone…except for Ron Paul I honestly don’t know anyone who has run for President or won who didn’t benefit in hard cold cash..

    1. Well, that paragon of, uh, something, HRC tried to walk off with the WH silverware. And Bubba rented out the Lincoln bedroom; I guess he was boning up to run a Motel 6.

  25. Trump has run into trouble for doing just that before; a New York court dissolved the Trump Foundation in part because Donald Trump converted its assets to his own use.
    World Most Intelligent 1st Animals What’s on your mind, please.

  26. I didn’t vote for Trump to smoke out his tax liability. I voted for him because he supports all the things I believe are important to preservation of our constitutional republic. He opposes all the socialist initiatives supported by the new and most radical democrat party in history. Trump supports things I consider important and opposes things I oppose.

    1. Further, his taxes seem to be 100% above-board; the IRS raised no objections.

    2. You believe that stiffing contractors is important to the preservation of our constitutional republic?

      1. Just keeping lobbing those dnc talking points that have zero basis in reality. I am sure one of them will hit….eventually.

        Contractors agree to do work for money. If they do no work they get no money. If they do work, and get no money, they go to court. This happens all the time in business, due to diagreements over the work contract. Courts resolve the disagreement, end of story….normal business and normal role of government.

  27. Well, the book was called The Art of the Deal not The Art of Making a Profit.

    1. “As of September 2020, Donald Trump has an estimated net worth of around $4 billion. He made his billion-dollar empire as a businessman and succeeded his father. He also earned handsomely when he worked for television. His annual salary was $60 million for his show ‘The Celebrity Apprentice’.”

      Yeah, he’s not very good at making money, right?
      Just out of curiosity, what’s your net worth? And is your pilot waiting for your call for the Citation X?

  28. Tony, jackass, wearenot.., and assorted other lefty shits, here are the facts, not fantasies:
    1) Trump is wealthy beyond the ken of you lefty shits, and we all understand that the left’s political positions are driven 100% by envy; his success pisses off lefty LOSERS like you; go buy green suits and fuck off.

    2) Trump further did absolutely nothing illegal in filing or paying his taxes, regardless of your pathetic mewlings to the contrary; his legal activities piss of lefty LOSERS like you. Fuck off.

    3) He’s a blowhard, a loose-cannon and in general an obnoxious character, but one of his redeeming qualities is to produce the raging, drooling, lying, screaming from lefty LOSER piles of shit like the lot of you.

    4) Further, the only crime in the entire issue is likely the criminal who passed confidential information to a newspaper, I’m sure certain that the fake news would entice lefty shits like you to further rage.

    The lot of you could make 2020 better than it has been so far (courtesy of lefty shit governors), while making your families proud and your loved ones and pets rejoicing:
    First, stuff your TDS up your asses so your heads have some company. And then, fuck off and die. Painfully and slowly, every one of you; you DESERVE it.

    1. But does he have to be the president?

      1. Do you ever post honestly, shitstain?

      2. To keep totalitarian socialists’ boots you lick away from power, yes, we need someone like Trump as president.

  29. The main point is that there was no big money made in Russia. The NY Times tax returns put the final nail in the coffin of the “Russian collusion” story. Of course, it is disgusting that his tax cut contains especially nice cuts for property developers. Having military using his failing hotel in Scotland is also not to my liking. And having foreign dignitaries sleeping in his hotel is beyond pale. However, given the issues, I think that Trump is by far the best of the available candidates. Trump will continue to lower taxes, slow down the immigration and continue decoupling the US economy from China. Hopefully, after Trump we may consider someone who will lower the public debt, shrink bureaucracy and abolish the public sector unions.

  30. Considering only 31.1% of Americans itemized before the 2018 tax cuts and in 2019 only 13.7% will, I think it is fair to say the average Tax payer knows little to nothing about income taxes at the personal level and even less at the business level. They just put in how much they earned off their W-2’s and 1099’s plus tax paid and get the balance owed or due.

    This is why papers like the NYT’s run these stories because they know how they will be interpreted by the average person who reads them, which is Trump is a crook and is breaking tax law when in all actuality, him and many others use the tax code as written to make money. And so do the spouses of many politicians but that never gets press.

    1. And they think a refund is good, because they’re getting money from the government.

  31. These journalists are pathetic..they know NOTHING about how to make money, how to evaluate a portfolio of assets, and how to think economically. They’re all poor grunt workers with no money.

    What are the asset values of those Golf courses ? Losing 300 million in 20 year of cash flow, to see property triple in value…is that good math ?

  32. What about the point that the New York Times blatantly stole Trump’s tax return information? Whoever leaked it is guilty of a felony. That’s very explicit in the tax code. While I would grant broad leniency to the press if there were actually any crimes found. I find it all just accounting tricks, inconsistent income, and yes, millions of dollars in taxes paid.

    This is one of the blaring invasions of privacy of a public official that we have ever seen. Even if you hate Trump with a passion, this should disturb you. Rights ONLY exist when they apply to people we dislike or despise.

    1. On the other hand he ran for president on the premise that he was a great businessman, and it turns out that the whistleblower exposed a major lie by a major politician.

      I’m not going to be here forever to be the only libertarian propping up the structure, you know.

      1. That’s a very thin line to cross. How little of a justification do you need to knowingly and flagrantly commit a federal felony and throw it to the world?

        No crime. Just making Trump look bad.

      2. Pbbbt. Whistleblower.

        Funny.

  33. So he never gets audited. It takes the sleuths at the NYT to do that?

    I’m skeptical just saying

    1. He’s been audited almost every year for quite some time.

  34. No, people get the point pretty well: Most Americans paid more income taxes then Donald Trump.

    That you want to distract from that point is noted, and irrelevant.

    1. Agreed

    2. That’s certainly the point someone wants most Americans to take, whether or not there’s evidence to support that point. It’s obvious from the text that they either aren’t interested in giving all the facts, or they don’t have sufficient information to come up with an answer for the question, “How much has Trump paid in income taxes?” If they have sufficient information, they could (and should) put the bottom line number in the story. “Over the past X years, Trump has paid a total of $Y in taxes, and average of $Y/X per year.” So either they don’t have it, or they don’t want to tell us. Instead they give us the information that his tax bill was zero for 10 of 15 years, and $750 for the other two. Maybe someone can tease out the true amount from all the numbers NYT provided, but if anyone has, I haven’t seen it anywhere.

  35. Most people recognize that that tax code is far too complicated. That is not the fault of the IRS but of a Congress that will not reform the tax code. Paul Ryan talked about reforming the code for years then when the chance came he simply backed off and instead just cut taxes for the wealthiest like Trump. I do believe that part of the problem is that there is too much money in politics and that much of that money come from people who use the complex tax code to their advantage. I don’t think it is the average Joe/Jane who are supporting the complex tax code. Yes people deduct for a house, kids, or education expenses but that is far cry from what Trump is doing.

  36. For those who missed it, the tax code is specifically built to incentivise real estate investment.

    Real estate involves huge sums of up front cash with low amounts of cash flow for decades, with increasing equity in the interim.

    Without tax incentives, it is not an attractive business model.

    So you won’t find real estate investors who don’t have lots of write-offs. Even at the small player level, a handful of rental properties… You show a lot of losses and write-offs along the way and only realize a gain at the very end when you sell out.

  37. If only there had been a party that advocated moving to a smaller fair and flat tax. And if only that party had advocated molding a government that was small enough to avoid attracting the attention of wealthy corporations’ lobbyists.

  38. BTW, I noticed we are not spending any intellectual capital on figuring out where the leak came from.

    If only there were an openly corrupt Democrat prosecutor who had subpoenaed those exact records under claims that they intended to do exactly this.

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