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Originally Posted by
njtom
Indeed it is. And without knowing the details, I would tend not to blame the billionaire who figures out a way
to pay no taxes...
I agree. I don't 'blame' anyone that doesn't pay taxes if they do it legally, billionaire or otherwise.
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Senior Member
Originally Posted by
njtom
Indeed it is. And without knowing the details, I would tend not to blame the billionaire who figures out a way
to pay no taxes, but I would say that the system that allows this to happen repeatedly is fundamentally flawed.
(And of course it's not only President Trump; Amazon paid no federal income tax in a year (2018) in which it
earned 11 billion dollars in profits. It even received a tax rebate of over 100 million in that year. And then
there are the hedge fund managers who pay less tax as a percentage of income than their secretaries.)
Tax loop holes may well be a main reason why the rich keep accumulating a bigger and bigger portion of the overall wealth, since the 1960s.
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As some have been pointing out on social media, if the man figured out a way to pay less taxes on billions then he is definitely right man to be president and fix our economy.
Just another thing that blows up in the face of these "gotcha" chumps.
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Banned
Rules are made by humans and can have unintended consequences that can be utilised to one's advantage. I won money on two footy tipping contests one year (the wooden spoon awards) by tipping all games to end in a draw, and I did it at the start of the season. Yes it was against the spirit of the game but it was valid. The next year the rules only allowed the tipping of one draw per round.
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Senior Member
Originally Posted by
victoryword
As some have been pointing out on social media, if the man figured out a way to pay less taxes on billions then he is definitely right man to be president and fix our economy.
Just another thing that blows up in the face of these "gotcha" chumps.
That ability can be interpreted as the ability to fix things in an unwholesome manner. Which is what the left think of Trump in general.
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Originally Posted by
Colonel
That ability can be interpreted as the ability to fix things in an unwholesome manner. Which is what the left think of Trump in general.
But it was their own manipulative tax laws that he used so if they want to claim that it is "unwholesome" then they have only themselves to blame. As long as President Trump works legally within the system to do what needs to be done then nothing wrong with that.
Why in the world should someone pay MORE taxes if it is not necessary. I would rather not give too much of my money to a government that funds abortion.
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Senior Member
Originally Posted by
njtom
Indeed it is. And without knowing the details, I would tend not to blame the billionaire who figures out a way
to pay no taxes, but I would say that the system that allows this to happen repeatedly is fundamentally flawed.
(And of course it's not only President Trump; Amazon paid no federal income tax in a year (2018) in which it
earned 11 billion dollars in profits. It even received a tax rebate of over 100 million in that year. And then
there are the hedge fund managers who pay less tax as a percentage of income than their secretaries.)
Actually think its a good system. Income taxes should be abolished
Taxes simply transfer money from the private sector to Government bureaucrats most of whom add little value and and by doing so you reduce capital spending and consumer consumption by the same billionaires so there is no societal loss per se if the money remains in the private sectors .
So long as the Tax Loopholes help stimulate the domestic economy then I am cool with it after-all they assume the risk.
That said they do pay payroll taxes and property taxes and all kinds of other taxes that there are no loopholes for .
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Senior Member
Originally Posted by
victoryword
But it was their own manipulative tax laws that he used so if they want to claim that it is "unwholesome" then they have only themselves to blame. As long as President Trump works legally within the system to do what needs to be done then nothing wrong with that.
Why in the world should someone pay MORE taxes if it is not necessary. I would rather not give too much of my money to a government that funds abortion.
Good point but when they hire lawyers to figure out how to exploit the system as much as conceivable then it's not commendable.
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Senior Member
Originally Posted by
Colonel
Good point but when they hire lawyers to figure out how to exploit the system as much as conceivable then it's not commendable.
You would prefer to have a bunch of unemployed lawyers ?
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Senior Member
Originally Posted by
BAP
You would prefer to have a bunch of unemployed lawyers ?
Lol. Let them go after countries that persecute Christians instead.
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