For Billionaires to Pay Zero Taxes is Corrupt
I don’t think the conservative take on @realDonaldTrump paying no taxes should be: BECAUSE HE’S SMART!
I’ve paid nearly 50% of my income in taxes, year after year, and any system that allows billionaires to pay ZERO is unspeakable corrupt.
How about changing it, Democrats?
— Ann Coulter (@AnnCoulter) September 29, 2020
Fix the Tax Code
Now that we have @realDonaldTrump as an example of how THE LAW allows real estate billionaires to get away with murder, how about fixing the utterly corrupt tax code?
— Ann Coulter (@AnnCoulter) September 29, 2020
People in Disbelief
Woah. Did I just agree with something Ann Coulter tweeted?! What is happening?!
— Leona Lioness (@LeonaLioness6) September 29, 2020
I agree with Ann Coulter. Now I need to go brush my teeth with bleach to get the taste of those words out of my mouth. https://t.co/QQR3iwL8HK
— Katie Porter’s Whiteboard (@kpwhiteboard) September 29, 2020
Where is the Real Ann Coulter?
who are you and what have you done with the real Ann Coulter
— Jeff Tiedrich (@itsJeffTiedrich) September 29, 2020
Right Here
No, retard. Asking why Democrats don’t change a tax code that allows billionaire real estate magnates to pay nothing is what’s known as a “rhetorical question.”
Dems wouldn’t dare touch a tax scam that benefits their biggest donors. https://t.co/e3ctzTKkvA
— Ann Coulter (@AnnCoulter) September 29, 2020
I hope so. We could use more strong patriotic men. https://t.co/TH8E3Xo9XK
— Ann Coulter (@AnnCoulter) October 1, 2020
Accurate Summary of the Debate
MY SUMMARY OF THE DEBATE: BIDEN’S OLD, TRUMP IS RUDE, THE MEDIA SUCKS. (Except I need something stronger than “sucks.”)
— Ann Coulter (@AnnCoulter) October 1, 2020
My debate take: Pitiful and Painful to Watch.
Mish
Dump the personal income tax. Just tax business to balance the budget. Get rid of all monies loans whatever to foreign countries. If you care go over there and help them!
Senators and congressman participate in all wars on the front lines.
This is how we were founded.
Tax law needs to be reformed to substantially limit deductibility of partnership losses. This is how Trump gets away with paying no tax. I worked for IRS for 33 1/2 years and audited several real estate professionals paying little or no tax for years.
You can also borrow your equity for your living expenses and not owe tax. This is something my old mentor Robert Kyosaki talks about a lot in his books.
Not really a fan of Coulter but she gave an interesting interview about a year ago on Trump’s psyche. It’s nearly an hour and echoes what others have said more recently, like Woodward and Scaramucci.
Trump isn’t playing 4D chess, he usually thinks like an overgrown child:
Great interview. Thanks,@Tengen. (Note: Your take doesn’t well match the interview. Interview summary: Trump won on “the wall” but surrounded himself with people who don’t want to stop illegal immigration. And several other more tactical points.)
Haven’t watched the interview in a while but the part that sticks out in memory is her bashing Trump for “disloyalty”, where he favors the MSM over the smaller publications that actually like him. Basically Trump follows the MSM and celebrities like the Kardashians because they’re on TV, which in his world makes them important.
That basically says he’s not a philosophical guy, just one absorbed in popular culture sort of like a typical teenager.
Edit: Another example of this is Woodward’s book “Rage”. Woodward clearly isn’t a fan yet Trump was more than happy to give him an astounding 18 interviews for the book. Woodward is famous and Trump knows who he is, so he’ll gladly talk to him many times rather than more unknown authors or bloggers who love him.
Yeah, the thing about not supporting those in the media who backed him was #1 of the “tactical points” I was thinking of.
I’m not sure AC is right about what T should do in this area. Keeping in mind that I call T the “Rorschach president”, T seems an optimist and self-confident. So, I may be a fool to think he was insane to talk to Woodward (who, let’s be honest, seems insane, himself 🙂 ). But, where’s the upside to talking to his backers? He doesn’t need to convince them. Self-confidence and optimism would tell him to talk to the other side as if their minds can be changed.
T seems to fanatically follow a generous tit-for-tat game theory strategy. So, if Woodward hasn’t attacked T, then T would be generous. Or randomly at times, anyway.
Consumption taxes are the most logical. You can hide your income, but not your consumption unless you grow it yourself. What do we care what someone is paid? It is their consumption that competes with you for resources.
You’re proposing the old canard that would tax a greater portion of a working person’s income than a Colorado accountant’s income. If they don’t have enough to save with, everything they have will be taxed.
I expect we will eventually get to pay income tax AND consumption tax ala VAT.
The non-billionaires among us, I mean.
I love when people propose new taxes. You think we would learn but we don’t.
The wealthy would just lease they stuff from a different country and bring it here “temporarily”.
Her fame is based on getting people’s knickers in a twist, and up until the last couple years it was the liberals who were easiest to bait. Now we have a world full of hyper sensitive, ready to rage trumplings, and Coulter saying vaguely liberal things will grant her a a rich vein of outrage to monetize for years to come.
For those that dispute the tenderness of the trumplings, would direct you to reddit.com/r/conservative, and invite you to make a post in any way critical of trump and see how fast you get banned.
Does anyone have a link to a pro-trump message forum that isn’t a trumpling safe space? I’d like to have a hypothesis disproved…
Isn’t it ironic the #MAGA cult is thinner skinned than the “libtards” they hate?
Ironic – yes.
But it is also karmic.
My impression has been that over the last couple years both sides’ web sites have become more bubblicious. Not a surprise given the tone on both sides. It’s a feedback loop in action.
Wouldn’t it be wonderful to sort Internet comments by hysteria?
Also have you been reading WSJ’S Peggy Noonan lately? She has been critical of T for months.
Paywall. lol.
There are browser add on’s to break through.
You can get Noonan columns late on her website.
Smart if you don’t get caught,Madoff was smart,Trump is smart,Capone is smart……..Till they got caught!
The “smart” people you mentioned didn’t start out rich, but got rich by being “smart”. You think Trump would risk his estate by getting cute with his taxes? No, he hires lawyers to play the game as efficiently as he can.
… then tells the lawyers he knows better than them, and cheats on his taxes.
trump started out rich and stupid, and gradually became just stupid.
Trump is either a genius or an idiot. He isn’t a genius.
He knows nothing about the tax code.
It’s easy to become a millionaire when you start with a billion.
My sales bonus paid out earlier this year saw nearly ten times the amount Trump paid in 2016 confiscated from me before I ever saw it by Trump’s Treasury Department. I am not a billionaire–just average American middle class.
That was painful enough to realize so much of the fruit of my labor was basically stolen from me. The sting didn’t go away. It just intensified.
Americans aren’t free. They are tax slaves to this corrupt government.
Generally speaking, the harder a working guy tries to get ahead in this country, the more he gets penalized by the tax system. Unfortunately it is only by emulating the real rich that you ever get beyond that level…..and it isn’t that easy even if you do…… if you started without the head start of an inheritance.
Why do they need taxes, anyway. They’ve got the unlimited digital printing press.
What’s interesting is the more I make each year, the more it seems my income is flat. That’s what a progressive taxation system does. I make more, so they take more. Makes no sense to work harder to improve myself because I see minimal rewards.
That’s the system. Federal income tax originally passed as something only for the largest incomes (top 2-3%), but as you’ve found out, now various payroll taxes pile up when a wage-earner tries to improve their economic standing. Similar to how improving one’s domicile tends to lead to a larger property tax. The system is not designed for you (or me, for that matter) to get ahead.
I have asked as I see the government print money out of thin air, why do they need my money if they can just print it.
We use the term “money” loosely. In this case you are really talking about currency.
Just printing money will lead to Zimbabwe.
More than 80% of Federal spending is for Social Security, Medicare, Medicaid, Defense and interest on the debt, all WILDLY popular programs. If youre gonna try to save billions by cutting foreign aid, forget it. It’s pennies.
USA sends 50+ billion dollars in foreign aid per year so it is 500+ billion in 10 years and 1 trillion in 20 years.
That money should be used in USA.
Joe Biden’s brothers got rich from projects paid by US foreign aid from which they got well paid jobs because of their “connections” and Hillary Clinton and John Kerry kept the money flowing.
Its a lot… but if everybody got to keep it all, prices would rise to match, especially for things people get crazy about like houses and cars.
If you had ACTUALLY READ the New York Times story you would have realized that Trump paid 4+ million in taxes in 2016 while he was running for president and 1+ million in 2017 while he was already president.
Then Trump’s team of accountants and lawyers asked for a TAX REFUND using the laws written/kept for 8 years by Obama/Biden administration and Trump got that tax refund (most likely due to renovating the old Washington DC Post Office building into a Trump hotel) which gave Trump a tax deduction for FUTURE years.
From this New York Times made the LIE that Trump paid just 750 dollars per year when in fact he paid millions and got a tax refund to be used in FUTURE years.
We have many problems that could be easily fixed if the country’s very richest people didn’t profit from the existing system.
I agree but you could say that in any century.
That would be an interesting fix given that, by definition, the very richest are those who have profited.
Trump’s promises are just self-promotion. It was evident long ago.link to nytimes.com
As an Open Borders person, I cannot support Ann Coulter in any manner. She is almost as bad as Steven Miller.
What Ann and I have in common is that we are both white males.
Open boarders? What’s wrong with you? We want open to the best boarders. Test them and send the dumb ones back. Give the good ones a green card, a social and tell them to get a job. After 5 tax paying years give them citizenship for 25k. Simple enough.
America wasn’t built by the bottom of the barrel.
Allowing low wage immigrants to come to USA by the millions either as ILLEGAL immigrants or low wage LEGAL immigrants is morally wrong and leads to lower wages/stagnating wages and robs jobs from millions of Americans.
The fact that USA’s political elite has ALLOWED massive ILLEGAL immigration for tens or years that has resulted in USA having 29.5 million ILLEGAL immigrants currently (MIT-Yale 2018) and then brought massive numbers of low wage legal immigrants to USA at 500k-1million per year in addition to that is a RACIST POLICY.
Allowing ILLEGAL immigration and enabling massive low wage legal immigration is RACISM.
Without these two RACIST policies all black Americans and all poor white Americans would have jobs and wages would be 20 dollars an hour minimum just based on supply and demand of workers without any intervention like amndating 15 dollar minimums.
The “Black Irish” weren’t the “bottom of the barrel”? Some people, many people thought so.
If you want open borders, I invite you to move to where the illegals come from and meet them there instead of here.
I think Coulter has it a bit wrong. It’s not that Trump uses the tax code to avoid taxes, its that he may be doing it fraudulently. Trump’s effective tax rate is far below others with similar income and assets. I do agree the tax code is broken but I don’t see us fixing it anytime soon.
Trump’s problem is that he isn’t willing to settle for just the basic real estate tax breaks and deductions like depreciation, amortization, tax credits, etc. No, he has to scam his own so-called “charity” by deducting a “contribution” of a painting of himself to the charity. He was banned from ever sitting on the Board of a charity in NY State. Another one: deducting the cost of his haircuts (which does require some unusual skill). He is involved in over 500 different business entities. The IRS must have a staff of agents there routinely just to keep up. On the other hand, the NY Times did report nothing illegal about what he did in the info they examined.
Trump didn’t touch his taxes. He has very good attorneys that get paid to save every penny they can.
I think most people think of him banging away on a calculator but the realty is he probably hasn’t even looked at his taxes. Would you double check hundreds(?) of pages of taxes?
Celebrities deduct hair and makeup costs ALL THE TIME and that 70k deduction for hair covered all the years Trump was doing apprentice so he had the same right to deduct that cost as celebrities do.
If you had read the NY Times article you would have noticed that the taxes Trump paid were compared to other rich people earning a lot of money but Trump was NOT compared to other real estate developers that pay equally low amounts of tax due to tax code being loaded to the gills with goodies for real estate developers.
Also Trump paid 4+ million in taxes in 2016 and 1+ million in taxes in 2017 even according to NYT.
Trump’s accountants and layers just asked for a refund and got it and Trump got refunds that he can use to lower his FUTURE taxes so Trump did not get those millions in taxes he paid back from IRS but instead can deduct those refunds from his future taxes.
The NYT piece with the 750 dollars claim was MISLEADING either intentionally or because NYT reporters are idiots.
While a lot of the NY Times report could be explained by non illegal tax positions, I disagree with your assertion here. If your 1040 shows no tax liability (whether because of deductions, losses, credits, or because you have given an interest free loan to the IRS) then you did not have any tax liability for the year.
It’s like the rest of government. The tax code is part of how they repay their donors. Pork is another, which is why the House keeps making ‘stimulus’ bills with trillions in pork for people who don’t need it and holding up any payments for those who do.
I”m hard on Trump but after digesting the tax story and listening to a podcast from a cpa i follow for years I think the Times piece wasn’t fair. not everything was properly framed. that said. I have little doubt Trump is taking liberal use of the tax code
I don’t agree with Ann Coulter on virtually anything but she’s joined the resistance and I recognize she’s not corrupt like some of Trump’s supporters. She has an ideology she believes in an will call out Trump’s hypocracy when she sees it. She got fed up with Trump a while ago
Ann Coulter is a skank who thinks she’s hot.
That is without a doubt the very first time I ever felt anything but contempt for Ann Coulter.
Dear Ann: You helped him get elected. I knew from the get-go (or at least strongly suspected) this is what we’d find out if Trump’s taxes ever got outed. Where was your big brain in 2016?
50% for tax? Thank you for your contribution, and welcome to my world.
The Democrats didn’t want Trump’s tax returns to show how much he pays or doesn’t pay. They were wanting to find illegal tax dodging. Anyone with lots of money and a brain has tax attorneys finding the loopholes that Congress put in for their constituents and donors. The whole tax system is corrupt and needs to go.
Hehe….hehe…that’s cool. Ann Coulter thinks Democrats are different from Republicans…heheheh…..hehehehhehehe….Obama passed the biggest tax cut for the rich in history before Trump….hehehehe…..
Shut up Beavis!