NoBodyImportant Posted October 7, 2020 Report Share Posted October 7, 2020 Another example would be Trump only paid $750 in taxes in 2016! Which is true. But what the liberal media leaves out it’s because he over paid a few million the year before and received credit in 2016. But Trump did only pay a few million in taxes but he did it legally with tax credits introduced under the Obama administration. Quote Link to comment Share on other sites More sharing options...
Vince Green Posted October 8, 2020 Report Share Posted October 8, 2020 (edited) 14 hours ago, NoBodyImportant said: Another example would be Trump only paid $750 in taxes in 2016! Which is true. But what the liberal media leaves out it’s because he over paid a few million the year before and received credit in 2016. But Trump did only pay a few million in taxes but he did it legally with tax credits introduced under the Obama administration. Thats not completely true, Trump has not been paying much tax for years because he has been losing money hand over fist and borrowing money to make up the shortfall. His debt level is astronomical. https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html Edited October 8, 2020 by Vince Green Quote Link to comment Share on other sites More sharing options...
JohnfromUK Posted October 8, 2020 Report Share Posted October 8, 2020 28 minutes ago, Vince Green said: he has been losing money hand over fist and borrowing money to make up the shortfall. His debt level is astronomical. It is quite surprising how many 'very rich' people seem to be like that, and their actual 'net worth' after debts are settled is either quite small, or often negative. In business - it might be termed the 'goodwill' value of the business. For many years Amazon and Tesla and other very 'successful' businesses with massive stock market valuations actually never made any money at all ....... Quote Link to comment Share on other sites More sharing options...
Walker570 Posted October 8, 2020 Report Share Posted October 8, 2020 On 06/10/2020 at 09:21, Vince Green said: a political observer on TV this morning said he is getting a massive amount of TV time in America because of this and Biden is hardly getting a look in. maybe he's not as dumb as we think Yep, he's a dumb billionaire.... now I can't work that out, can you? Quote Link to comment Share on other sites More sharing options...
NoBodyImportant Posted October 8, 2020 Report Share Posted October 8, 2020 Don’t think for a second that he doesn’t pay taxes. He may not pay them directly but his companies pay astronomical amounts. Quote Link to comment Share on other sites More sharing options...
ordnance Posted October 10, 2020 Report Share Posted October 10, 2020 On 08/10/2020 at 12:37, NoBodyImportant said: Don’t think for a second that he doesn’t pay taxes. He may not pay them directly but his companies pay astronomical amounts. How much do his companies pay in tax ? Quote Link to comment Share on other sites More sharing options...
grrclark Posted October 11, 2020 Report Share Posted October 11, 2020 21 hours ago, ordnance said: How much do his companies pay in tax ? Yeah, i'd like to see that number too. Quote Link to comment Share on other sites More sharing options...
NoBodyImportant Posted October 11, 2020 Report Share Posted October 11, 2020 So far only 2 years of Trump tax returns have been leaked. 2005 and 2016. 2005 he paid in around 38 million federal and 15 to various states. That year he only had about 100 million in losses. That his personal income and not his many companies. Companies have to pay taxes on profits and the income that they pay employees. The employee payroll tax can’t be written off as the profit tax can. This is 15.3% of all wages paid to employees. (If I remember correctly). So even if a company has enough write offs they still have to pay the 15.3%. Quote Link to comment Share on other sites More sharing options...
NoBodyImportant Posted October 11, 2020 Report Share Posted October 11, 2020 According to CNN they say Trump has about 34,000 employees Over 500 companies. So at a bare minimum 15.3% of their salaries. https://money.cnn.com/2015/09/03/news/economy/donald-trump-jobs-created/ Quote Link to comment Share on other sites More sharing options...
blackbird Posted October 12, 2020 Report Share Posted October 12, 2020 (edited) Why are we all worried what Trump has payed or not payed in tax when the ******* in parliament have just awarded themselves a nice £3,200 pay increase this year when half the country’s tax payers are looking at the dole. Let’s try and sort the **** out this side of the pond first. Edited October 12, 2020 by blackbird Quote Link to comment Share on other sites More sharing options...
JohnfromUK Posted October 12, 2020 Report Share Posted October 12, 2020 4 minutes ago, blackbird said: Why are we all worried what Trump has payed or not payed in tax when the ******* in parliament have just awarded themselves a nice £3,200 pay increase this year when half the country’s tax payers are looking at the dole. Let’s try and sort the **** out this side of the pond first. They also had a 3.1% increase only in March this year, so this rise (of 4.2%) will be their second in a year if it goes ahead (it is opposed by many including the Gov't). It is set by an 'independent' panel and many MPs claim to oppose it. https://www.dailymail.co.uk/news/article-8825909/Fury-MPs-3-300-pay-rise-85-291-thousands-lose-jobs-Covid.html Quote Link to comment Share on other sites More sharing options...
ordnance Posted October 12, 2020 Report Share Posted October 12, 2020 19 hours ago, NoBodyImportant said: According to CNN they say Trump has about 34,000 employees Over 500 companies. So at a bare minimum 15.3% of their salaries. https://money.cnn.com/2015/09/03/news/economy/donald-trump-jobs-created/ Does the tax not come out of the employees wages, not Trumps. Quote Link to comment Share on other sites More sharing options...
NoBodyImportant Posted October 12, 2020 Report Share Posted October 12, 2020 (edited) 2 hours ago, ordnance said: Does the tax not come out of the employees wages, not Trumps. Over here the employer pays 15.3%, employees pay what ever their tax bracket is. I am in the 21% bracket. I can write off deductions but employers can’t. So if you make 100k a year the feds get 15k from the company and 21k from me. These numbers are from a few years back when I took a tax code class in college. I reserve the right to be wrong on exactly the current percent. Edited October 12, 2020 by NoBodyImportant Quote Link to comment Share on other sites More sharing options...
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