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Who pays the price?

Who pays the price? | WHO DO YOU THINK PAID THE PRICE WHEN I LOST 1,000,000,000 DOLLARS FOR 10 YEARS AND DIDN'T PAY ANY TAXES? YOU DID! EVEN WITH MY SALARY OF $400,000/YEAR IT WOULD TAKE 2,500 YEARS TO PAY IT BACK! | image tagged in you,trump,criminal,thief,taxes | made w/ Imgflip meme maker
1,467 views 6 upvotes Made by ChristopherSol 5 years ago in politics
18 Comments
2 ups, 5y,
1 reply
That's not how it works | THATS NOT HOW IT WORKS | image tagged in that's not how it works | made w/ Imgflip meme maker
you didn't pay any more in taxes because Trump paid no taxes in years he had a taxable loss.
2 ups, 5y,
1 reply
All citizens must pay taxes, and by doing so, contribute their fair share to the health of the government and national economy.

The federal taxes you pay are used by the government to invest in technology and education, and to provide goods and services for the benefit of the American people.

The three biggest categories of expenditures are:

Major health programs, such as Medicare and Medicaid
Social security
Defense and security
Interest on the national debt and various safety net programs such as low-income assistance comprise a sizable chunk of national expenditures, while other categories such as transportation and infrastructure spending round out the government budget.

Trump is a thief!
1 up, 5y,
1 reply
"All citizens must pay taxes"....I assume you are speaking to INCOME TAXES...I assure you Trump paid various other taxes, including employment taxes, FICA, sales etc. However citizens are not required to pay INCOME TAXES when you have NO TAXABLE INCOME.

Trump is not the only person to have taxable losses, and therefore do not pay INCOME TAXES.
2 ups, 5y,
1 reply
Trump is not just a run-of-the-mill multimillionaire, paying taxes at a low rate. As the Times has documented, there is ample evidence that his father’s estate — of which he was the executor — engaged in tax evasion and outright fraud, failing to pay about $500 million in estate taxes.

Other reports have documented numerous instances where Mr. Trump has taken sketchy or unlawful tax positions. His former attorney Michael Cohen effectively suggested during his congressional testimony that Mr. Trump engaged in tax fraud and insurance fraud.

The latest revelations about the president’s eye-popping tax losses provide fresh grounds for concern that he has violated tax laws: Claiming large tax losses is one of a handful of positions taxpayers must automatically disclose to the I.R.S. as potentially abusive tax shelters.

TRUMP = Tax dodger, draft dodger, pedophile
2 ups, 5y,
2 replies
Oh, so the NY Times said so. It must be true. LOL. or even better, Michael Cohen, who is going to jail for lying to the Feds said so, so it must be true.

Tax avoidance is not illegal. Tax EVASION is illegal. They are two different things.

"Claiming large tax losses is one of a handful of positions taxpayers must automatically disclose to the I.R.S. as potentially abusive tax shelters."

This could be the dumbest thing I have ever read. The tax losses WERE REPORTED TO THE IRS through his tax returns. Are you really this stupid?
2 ups, 5y,
1 reply
Donald Trump's ever-elusive tax returns got slightly demystified Tuesday, as the New York Times released a report detailing one decade of Trump's finances from his days as a real estate tycoon. And, spoiler alert: he's not the “VERY successful businessman” he's claimed to be. According to the Times report, which is based on printouts from Trump’s official Internal Revenue Service tax transcripts, rather than the actual tax returns themselves, the now-president lost $1.17 billion from 1985 to 1994—more money than “nearly any other individual American taxpayer.”
1 up, 5y
Thanks for proving my point that the IRS was notified of the losses...

"According to the Times report, which is based on printouts from Trump’s official Internal Revenue Service tax transcripts,"
2 ups, 5y,
1 reply
Trump's startling losses came from of a rash of unprofitable business purchases, largely in real estate, that included a shuttle operation from Eastern Airlines funded at a rate of $7 million per month and the Trump Taj Mahal Hotel and Casino, which opened with $800 million in debt. The casino never recouped its debts, the Times found, “and sucked revenue from [Trump's] other casinos, Trump’s Castle and Trump Plaza, pulling them deep into the red.” By 1990, Trump's adjusted gross income was negative $400.3 million, which would balloon to negative $915.7 million by 1994. (An earlier Times report found Trump's 1995 adjusted gross income was negative $916 million, an amount then described as “so substantial it could have allowed him to legally avoid paying any federal income taxes for up to 18 years.”) As a result of his “overwhelming losses,” the Times found that Trump didn't pay income tax for eight of the ten years reviewed, only paying income tax in 1987 and 1988. Trump was required to pay taxes both years through the alternative minimum tax, which, as the Times described, “was created to make sure wealthy people could not avoid all income tax through loopholes and deductions.”
2 ups, 5y,
1 reply
"Trump's startling losses came from of a rash of unprofitable business purchases, largely in real estate"

This is why he didn't pay taxes...HE HAD NO INCOME TO TAX...which is why your cut and past job says this later "the Times found that Trump didn't pay income tax for eight of the ten years reviewed, only paying income tax in 1987 and 1988. Trump was required to pay taxes both years through the alternative minimum tax, which, as the Times described,"

So Trump still had to pay taxes via the AMT. Which totally debunks your narrative that he paid NO TAXES.

Reading is hard for the dumb folk.
2 ups, 5y,
1 reply
1. Mr. Trump was deep in the red even as he peddled deal-making advice
“Trump: The Art of the Deal” came out in 1987. It became a best seller — and a powerful vehicle for the self-spun myth of the self-made billionaire that would ultimately help propel him to the presidency.

Mr. Trump has long attributed his first run of business reversals and bankruptcies to the recession that hit three years later, in 1990. But the new tax information reveals that he was already in deep financial distress when his master-of-the-universe memoir hit the shelves.

For Mr. Trump, the 1980s were a frenzy of acquisition and construction, buoyed by hundreds of millions of dollars of borrowed money. In 1985, for the first time, Forbes’s “rich list” included Mr. Trump individually, independent of his father. But his estimated net worth according to the magazine, $600 million, included the real estate empire Fred Trump still owned.

With Mr. Trump’s vast debt and other expenses on his properties — among them Trump Tower and the Grand Hyatt hotel in Manhattan, and two Atlantic City casinos — his fortunes were already on the way down. In 1985, his core businesses reported a loss of $46.1 million; they also carried over a $5.6 million loss for earlier years.

Because those businesses were generally created as partnerships, they did not pay federal income taxes themselves. Instead, their gains, and their losses, flowed onto Mr. Trump’s ledger. To put his results in perspective, The Times compared them with detailed information that the I.R.S. compiles on an annual one-third sampling of high earners. Most of them appeared, like Mr. Trump, to be businessmen who received what is known as pass-through income.

For 1985, the I.R.S. information indicates this: Only three individual taxpayers in the sampling reported bigger losses than Mr. Trump.

2. In multiple years, he appears to have lost more money than nearly any other individual taxpayer
The tax results for the years that followed trace an arc of continued empire building — and gathering loss.

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He bought the Eastern Airlines shuttle for $365 million; it never made a profit, and he spent more than $7 million a month to keep it flying. His new Trump Taj Mahal Hotel and Casino, opened in 1990 with more than $800 million in debt, sucked revenue from his other casinos, pulling them along into the red.

And so, year after year, Mr. Trump appears to have lost more money than nearly any other individual taxpayer, according to
2 ups, 5y,
1 reply
Congrats on getting your PhD is copy/paste. Your work is amazing.

The problem is, in your adolescent haste to just copy material, you didn't actually read the material.

If you had READ the material, you would see that your original meme is incredibly inaccurate.

You debunked your own claim better than I ever could.
1 up, 5y
How did he debunk his own meme?
1 up, 5y
What is Income Tax Fraud?

Income tax fraud is the willful attempt to evade tax law or defraud the IRS. Tax fraud occurs when a person or a company does any of the following:

Intentionally fails to file a income tax return
Willfully fails to pay taxes due
Intentionally fails to report all income received
Makes fraudulent or false claims
Prepares and files a false return
1 up, 5y,
1 reply
Still 17 ongoing investigations...
1. The 2016 Russian election attack
2. Wikileaks
3. Middle Eastern influence
4. Paul Manafort’s activities
5. The Trump Tower Moscow project
6. Russia-Trump Campaign contacts
7. Presidential obstruction of jusice
8. Campaign finance violations and Trump Organization finances
9. Inauguration funding
10. SuperPAC funding
11. Foreign lobbying violations
12. Russian spy Maria Butina
13. Russian Internet Research Agency accountant Elena Alekseevna Khusyaynova
14. Turkish influence
15. Trump Organization tax fraud
16. Trump Foundation fraud
17. Violations of the emoluments clause
2 ups, 5y,
1 reply
Did you just move the goalpost 17x in one comment? That has to be a record.
[deleted]
3 ups, 5y,
1 reply
He stole your gimmick! That sucks.
1 up, 5y
2 ups, 5y
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WHO DO YOU THINK PAID THE PRICE WHEN I LOST 1,000,000,000 DOLLARS FOR 10 YEARS AND DIDN'T PAY ANY TAXES? YOU DID! EVEN WITH MY SALARY OF $400,000/YEAR IT WOULD TAKE 2,500 YEARS TO PAY IT BACK!