So, in 2017, did you pay more in Federal Taxes than rich mogul Donald Trump

[Jimmy Higgins]

So, it seems that successful business mogul Donald Trump paid $750 in taxes in 2017. That number seems kind of low for a successful business mogul, but it just means how successful he is. But just out of curiosity, did you pay more in taxes than Trump in 2017?

 

[Worldtraveller]

I'd have to look up the figure, but well more than an order of magnitude more.

Also, unlike trump, my net worth in the past decade has outperformed the stock market by a fair bit.

 

[ZiprHead]

I'd have to look up the figure, but well more than an order of magnitude more.

Also, unlike trump, my net worth in the past decade has outperformed the stock market by a fair bit.

Why, you worthless commie. You know that according to Trausti you only make money when you lose money.

 

[Politesse]

So, it seems that successful business mogul Donald Trump paid $750 in taxes in 2017. That number seems kind of low for a successful business mogul, but it just means how successful he is. But just out of curiosity, did you pay more in taxes than Trump in 2017?

Though hardly unusual for a real estate mogul specifically. There's a reason that industry attracts a.... certain kind of person.

 

[Trausti]

I'd have to look up the figure, but well more than an order of magnitude more.

Also, unlike trump, my net worth in the past decade has outperformed the stock market by a fair bit.

Why, you worthless commie. You know that according to Trausti you only make money when you lose money.

Ah, right. If your tax advisor told you not to take lawful deductions and right offs but instead pay more than you owe, would you do it? How long would this person remain your tax advisor?

 

[Deepak]

lawful deductions

https://www.logicallyfallacious.com/logicalfallacies/Begging-the-Question

right offs

https://smallbusiness.chron.com/tax-writeoff-mean-57830.html

 

[Trausti]

lawful deductions

https://www.logicallyfallacious.com/logicalfallacies/Begging-the-Question

right offs

https://smallbusiness.chron.com/tax-writeoff-mean-57830.html

Good grief, that’s all ya got? Semantics?

 

[Trausti]

And Trump actually paid $1M in 2016 and $4.2M in 2017 according to NYT article. That's $5.2M paid into the Treasury, an overpayment of $5,189,500. And he paid payroll taxes for 22,500 employees. The monster!

 

[ideologyhunter]

Let's see. There were capital losses at three (3) of my properties.

Bada Bing! Lounge - in Jersey, outside Lodi on Rte. 17. We did fine on beverage sales, but I put my idiot son-in-law, Gerald Cushman, in charge of entertainment. Before I knew it, he had his wife on the pole, and that is a sight that only a father or husband should see. Long story short, she didn't want to do it, and she put out so much attitude that some of the customers threw money at her to get her off the stage. Major downturn in second and third quarter profits. Cushman is a fucking dumbass, but I feel obligated to keep him on.
Pee Pee Creek Casino and Golf Course - outside Waverly, Ohio, on the banks of Pee Pee Creek. This place should make money like the U.S. mint, and we did post a respectable second year profit of something like 1.3 mill. Then a customer spilled a drink on the Christina Aguilera Chair (she actually sat on it during our grand opening festivities) which ruined the chair, which is valued at 1.4 million. Result, net loss.
Ideologyhunter Hospitality Suites and Resort - Kentucky, .5 mile from the Ark Experience. We experienced a loss on this property due to three (3) unforeseen factors: tourists got tired of trying to spell and key in the name of the resort, and went with Omni instead; poor decision by management, for which I take responsibility, to place no Bibles in the guest rooms but instead copies of Letter to a Christian Nation by Sam Harris; dead Russian hospitality hostess found in the executive suite. Any one of these could hurt a growing business, and all three combined to hurt our profit margin like a bitch.

Total assessed value of properties: $32 million plus luxury boat access rights on Pee Pee Creek.
Final tax bill for fiscal 2019, $110.10. I am contesting $40 of that, because we had to improvise a body bag for the Russian hostess, and we used an old golf bag that was worth at least $40, if not $100.

 

[Trausti]

Let's see. There were capital losses at three (3) of my properties.

Bada Bing! Lounge - in Jersey, outside Lodi on Rte. 17. We did fine on beverage sales, but I put my idiot son-in-law, Gerald Cushman, in charge of entertainment. Before I knew it, he had his wife on the pole, and that is a sight that only a father or husband should see. Long story short, she didn't want to do it, and she put out so much attitude that some of the customers threw money at her to get her off the stage. Major downturn in second and third quarter profits. Cushman is a fucking dumbass, but I feel obligated to keep him on.
Pee Pee Creek Casino and Golf Course - outside Waverly, Ohio, on the banks of Pee Pee Creek. This place should make money like the U.S. mint, and we did post a respectable second year profit of something like 1.3 mill. Then a customer spilled a drink on the Christina Aguilera Chair (she actually sat on it during our grand opening festivities) which ruined the chair, which is valued at 1.4 million. Result, net loss.
Ideologyhunter Hospitality Suites and Resort - Kentucky, .5 mile from the Ark Experience. We experienced a loss on this property due to three (3) unforeseen factors: tourists got tired of trying to spell and key in the name of the resort, and went with Omni instead; poor decision by management, for which I take responsibility, to place no Bibles in the guest rooms but instead copies of Letter to a Christian Nation by Sam Harris; dead Russian hospitality hostess found in the executive suite. Any one of these could hurt a growing business, and all three combined to hurt our profit margin like a bitch.

Total assessed value of properties: $32 million plus luxury boat access rights on Pee Pee Creek.
Final tax bill for fiscal 2019, $110.10. I am contesting $40 of that, because we had to improvise a body bag for the Russian hostess, and we used an old golf bag that was worth at least $40, if not $100.

Good luck on the $40.

 

[Deepak]

https://www.logicallyfallacious.com/logicalfallacies/Begging-the-Question



https://smallbusiness.chron.com/tax-writeoff-mean-57830.html

Good grief, that’s all ya got? Semantics?

Semantics? Your claim is nonsense because you're assuming the legality of the write-offs when therein lies the rub.

 

[Trausti]

https://www.logicallyfallacious.com/logicalfallacies/Begging-the-Question



https://smallbusiness.chron.com/tax-writeoff-mean-57830.html

Good grief, that’s all ya got? Semantics?

Semantics? Your claim is nonsense because you're assuming the legality of the write-offs when therein lies the rub.

In the audit Trump is trying to get a refund for the amount he already paid. Anyone can contest the amount they owe. Contesting tax liability is not a crime.

 

[ZiprHead]

I'd have to look up the figure, but well more than an order of magnitude more.

Also, unlike trump, my net worth in the past decade has outperformed the stock market by a fair bit.

Why, you worthless commie. You know that according to Trausti you only make money when you lose money.

Ah, right. If your tax advisor told you not to take lawful deductions and right offs but instead pay more than you owe, would you do it? How long would this person remain your tax advisor?

That's the big question. Are they really lawful?

$30,000 to Ivanka Trump for "consulting fees" while she's already an employee? You really think that's a lawful deduction?

 

[TV and credit cards]

Ah, right. If your tax advisor told you not to take lawful deductions and right offs but instead pay more than you owe, would you do it? How long would this person remain your tax advisor?

That's the big question. Are they really lawful?

$30,000 to Ivanka Trump for "consulting fees" while she's already an employee? You really think that's a lawful deduction?

Exactly. Whether or not an expense qualifies as a deduction is oftentimes opaque. The people you select to advise and prepare your taxes can take a conservative or aggressive approach toward these deductions. But in the end, you're signing the return so the people you select are your responsibility. Just a guess, but I'd suspect Trump's tax preparation takes a more aggressive approach.

 

[Deepak]

Contesting tax liability is not a crime.

https://en.wikipedia.org/wiki/Doublespeak

Who said 'contesting tax liability is a crime'? The crime would be reducing the liability through illegal means. Is your claim that the Honorable Leaned Hand was exhorting people to use illegal means to evade taxes and that people should be able to do so with impunity?

 

[Trausti]

Ah, right. If your tax advisor told you not to take lawful deductions and right offs but instead pay more than you owe, would you do it? How long would this person remain your tax advisor?

That's the big question. Are they really lawful?

$30,000 to Ivanka Trump for "consulting fees" while she's already an employee? You really think that's a lawful deduction?

Why not? A business lunch is deductible. The only limitation on deductions is your accountant’s imagination. The IRS can always challenge a deduction. But that doesn’t make it unlawful. Lying to the IRS. That’s what’s unlawful.

 

[ZiprHead]

Ah, right. If your tax advisor told you not to take lawful deductions and right offs but instead pay more than you owe, would you do it? How long would this person remain your tax advisor?

That's the big question. Are they really lawful?

$30,000 to Ivanka Trump for "consulting fees" while she's already an employee? You really think that's a lawful deduction?

Why not? A business lunch is deductible. The only limitation on deductions is your accountant’s imagination. The IRS can always challenge a deduction. But that doesn’t make it unlawful. Lying to the IRS. That’s what’s unlawful.

Okay, lets go with all these deductions are legal. Then that must mean he's a totally awful business man.

 

[Harry Bosch]

I'd have to look up the figure, but well more than an order of magnitude more.

Also, unlike trump, my net worth in the past decade has outperformed the stock market by a fair bit.

Why, you worthless commie. You know that according to Trausti you only make money when you lose money.

Ah, right. If your tax advisor told you not to take lawful deductions and right offs but instead pay more than you owe, would you do it? How long would this person remain your tax advisor?

Of course. I take every business deduction that I can, legally. But I also don't tell people that I'm the greatest business person in the history of the world and mock everyone else. What this all illustrates that Trump is a terrible business person who shouldn't be trusted to run an average sized corporation, let alone the country.

 

[Patooka]

Ah, right. If your tax advisor told you not to take lawful deductions and right offs but instead pay more than you owe, would you do it? How long would this person remain your tax advisor?

Of course. I take every business deduction that I can, legally. But I also don't tell people that I'm the greatest business person in the history of the world and mock everyone else. What this all illustrates that Trump is a terrible business person who shouldn't be trusted to run an average sized corporation, let alone the country.

I also can't remember a time when you have deliberately modified the tax code for your own personal gain, like Trump has done.

In the before times that used to be called a conflict of interest or corruption if you will. A concept Trausti is having severe difficulties understanding.

 

[Deepak]

Why not? A business lunch is deductible. The only limitation on deductions is your accountant’s imagination. The IRS can always challenge a deduction. But that doesn’t make it unlawful. Lying to the IRS. That’s what’s unlawful.

Meanwhile here's what the law says on this side of imagination land:

Any person who willfully attempts in any manner to evade or defeat any tax imposed by this title or the payment thereof shall, in addition to other penalties provided by law, be guilty of a felony and, upon conviction thereof, shall be fined not more than $100,000 ($500,000 in the case of a corporation), or imprisoned not more than 5 years, or both, together with the costs of prosecution.