10-03-2020, 10:34 AM
(10-02-2020, 04:53 PM)The Real Marty Wrote: [ -> ]It's not strange though if he doesn't pay the taxes personally. He doesn't have to take income from his companies and building hotels is expensive so they have accounting options available.(10-02-2020, 02:32 PM)mikesez Wrote: [ -> ]You seem to be saying that the tax system is totally fair to these people.
I don't think it is. I think they are racking up unfair advantages.
No, I was not giving any kind of opinion about "fairness." Here is what I said. I copied and pasted, so this is exactly what I said:
"That's one of the interesting things about his taxes- he loses loads of money on most of his businesses, especially all the golf courses he owns. He made a lot of money on the Apprentice, and that made up for some of his losses on the other businesses, but apparently, he loses enough money that he doesn't wind up with much taxable income. His "fortune" seems to be a house of cards, and maybe an illusion.
If you're making money, it is really really hard to avoid paying taxes. The idea that "the rich" can avoid paying taxes is a complete myth. The top 1% pay almost 40% of all income taxes. If your are rich, you pay taxes. That's all there is to it. That's one thing that makes Trump's tax bill really unusual for a guy who claims to be rich. If he's as rich as he claims to be, why is his tax bill so incredibly, consistently miniscule?"
But then you jumped in and wanted to argue with my point that if you are making money, it is really really hard to avoid paying taxes. But it is the absolute solid truth. Rich people pay most of the taxes in this country. The top 10% pay 70% of the income taxes. The federal budget office says the average tax rate on the top 1% is 33%.
In spite of their ability to hire the world's best accountants and tax lawyers, rich people still get hit with enormous tax bills. My point was, that makes Trump's tax bill pretty strange for a guy who claims to be rich.
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