15 Mar 17
Originally posted by EladarIf you recall, YOU started complaining about what percentage of his income Obama paid in taxes!
Paying the taxes the government decided to collect isn't good enough for you.
OK
Do you follow this reasoning when you pay taxes?
So this post is incredibly hypocritical and stupid.
16 Mar 17
Originally posted by JS357So essentially the loophole that lets Trump spread out almost a billion dollars in paper losses in one year in the 90s over decades cost the US Treasury over $20 million in taxes he should have paid in 2005 alone. And absent the AMT that figure would have been over $50 million.
That is highly suspect if you are talking about US federal income tax. There are brackets but not every dollar you earned is taxed at the highest bracket you are in. And the highest bracket only takes 39.6% of AGI OVER $415,050.
Originally posted by JS357Keep in mind though; that's only federal taxes. State tax and municipal/property/school tax can double the taxation for many people (not Trump; I mean for "regular" people).
That is highly suspect if you are talking about US federal income tax. There are brackets but not every dollar you earned is taxed at the highest bracket you are in. And the highest bracket only takes 39.6% of AGI OVER $415,050.
16 Mar 17
Originally posted by whodeyThank God for the AMT. The AMT actually nicked me a little this year, but hey, I'm happy to make my contribution towards attack drones and cruise missiles.
From what I hear, Trump paid a whopping $38 million in taxes in 2005.
To better put that into perspective, that is enough money to feed Michael Moore for 3 days.
16 Mar 17
Originally posted by whodeyThat is why I suspect Trump leaked his 2005 taxes himself. He expressed anger over the leak, but I suspect he did that to send a message to anybody else that they would be breaking the law. he doesn't want his recent tax returns to be released and he is hoping the 2005 taxes will satisfy most people, but it just makes me want to see his recent taxes even more.
From what I hear, Trump paid a whopping $38 million in taxes in 2005.
To better put that into perspective, that is enough money to feed Michael Moore for 3 days.
So many people say Trump is following through with his promises, but not his taxes or Hillary being prosecuted. Just not true.
16 Mar 17
Originally posted by techsouthOnly for the very highest tax bracket. (39.6% bracket)
Long term capital gains are up to 20%. Short term capital gains are taxed like regular income.
For the lowest 2 brackets, the CG rate is 0%. (10% and 15% brackets)
For all others, it is 15%. (25%, 28%, 33%, and 35% brackets)
16 Mar 17
Originally posted by JS357I really doubt Shav pays US income tax.
That is highly suspect if you are talking about US federal income tax. There are brackets but not every dollar you earned is taxed at the highest bracket you are in. And the highest bracket only takes 39.6% of AGI OVER $415,050.
16 Mar 17
http://www.msn.com/en-us/money/taxes/yes-trump-paid-taxes-in-2005-they-just-dont-look-much-like-a-billionaires-taxes/ar-AAoozks?li=AA4Zjn&ocid=spartandhp
Trump's return shows he earned about $110 million off his investments — which includes a one-time, $32 million gain that came from selling off assets, while the rest comes from income earned off of rental real-estate and ownership of businesses and in the form of interest.
The second chunk — about $78 million — basically suggests what he's earnings from all his assets. It's a return of just 3% on $2.6 billion in assets, which isn't great, but it's not all Trump earned that year. Trump discloses another $42 million of "business income" but it's not clear what this is and some could've been coming off of his role as star and part-owner of The Apprentice.
Except for his work as an entertainer on the Apprentice, he got all his money simply because he's rich. Selling assets counts as income? Really? And he got income from being a landlord.
The man gets paid for being rich.