New York Times Fails at Outlining President
Trump’s Taxes Again…
Conservative Treehouse,
by
Sundance
Original Article
Posted By: earlybird,
9/28/2020 10:58:03 AM
Once again the New York Times attempts to make an issue out of President Trump’s real estate holdings working as a tax shelter and reducing income taxes.
In the article the Times completely obfuscates the way income taxes are strategically offset by depreciation, mortgage interest and the entire reason why real estate ownership is viewed as a business.
John Carney writing for Breitbart gets it:
[…] So imagine our guy took out an $8 million mortgage at five percent, paying $2 million cash. Now he’s got to pay $400,000 in mortgage payments. He wants to make at least that much so he charges tenants an aggregate of $425,000, which after
Reply 1 - Posted by:
earlybird 9/28/2020 11:01:12 AM (No. 555339)
For those who don’t understand Trump’s tax situation, this article briefly explains real estate tax shelters and how they work. It also reminds that President Trump is not taking his salary as president - $400,000 per year - but donating it back to various parts of our government.
11 people like this.
Reply 2 - Posted by:
Lazyman 9/28/2020 11:07:37 AM (No. 555348)
If Biden doesn't like the code he could have tried to change it unlike Trump who has only held the Presidency.
5 people like this.
Reply 3 - Posted by:
Highlander 9/28/2020 11:15:08 AM (No. 555360)
Trump is no different from any other honest billionaire who needs to keep as much of his hard-earned money as possible, and I would underline HONEST. Scuzzie commie bastirds have no right to decide how much another man’s wealth he gets to keep!
8 people like this.
Reply 4 - Posted by:
davew 9/28/2020 11:23:44 AM (No. 555370)
I'd like to see the line on Biden's 2015 tax return that showed $950,000 in lobbying fees from Mykola Zholschevsky. Did he report this and pay taxes on the money he got from Burisma's oligarch owner?
11 people like this.
Reply 5 - Posted by:
Foghorn 9/28/2020 11:42:27 AM (No. 555398)
The tax reports are not intended to expose Trump's taxes. His taxes have been the target since President Trump took office. The tax announcement is designed to expose the tax deficiet and to detract from the Mueller investigation and the attempted coup. Remember Senator Reid said Romny hadn't paid taxes in 15 years. That was a lie. When asked about the accusation Reid said Romney didn't get elected did he. Could it be they hope this works with President Trump and the coming election.
4 people like this.
Reply 6 - Posted by:
Chuzzles 9/28/2020 12:18:10 PM (No. 555447)
I think the elephant in the room for the media is that they refuse to post the returns and show the truth. The returns would deny the media the chance to twist and lie their heads off. So this is a huge 'sources say' story for them, probably the biggest one in their professional history.
I am hoping if the subject comes up tomorrow, Trump simply reminds the audience that he only followed what the Democrat controlled House wrote for their buddies for over 4 decades. How on earth could that be illegal?
2 people like this.
Reply 7 - Posted by:
JoElla Bee 9/28/2020 12:39:34 PM (No. 555468)
FTA: Additionally, President Trump donates his $400,000 government salary back to the U.S. government. So to accuse President Trump of only paying $750 in income taxes totally ignores all of the other donations and tax payments he makes.
In practical terms no President before Trump has ever had his actual business portfolio so deeply connected to the success of the American economy. It doesn’t cost the American taxpayer a dime to have President Trump in office…. Now let’s figure out how DC politicians making $200k/yr are able to become multi-millionaires while holding office.
1 person likes this.
Reply 8 - Posted by:
planetgeo 9/28/2020 1:39:11 PM (No. 555498)
Pretty ridiculous having a Marxist newspaper that is barely afloat and journolist writers who make out their tax returns in 10 minutes on a 1040EZ form trying to claim they understand what a multi-billionaire's tax return is all about.
2 people like this.
Reply 9 - Posted by:
SkeezerMcGee 9/28/2020 2:06:47 PM (No. 555531)
By reading the article New York Times reporters will learn more about taxes then than now know. It must be interesting to write an article about a subject of which the authors have no knowledge whatsoever. They would not have a clue if they tried to understand any of Donald Trump's federal income tax returns. Most income tax attorneys would not understand most of his federal income tax filings. This is because the Internal Revenue Code is a confusing maze, chuck full of obscure exceptions and exemptions. The total amount of fees paid to lobbyists to insert loop holes into that Code is staggering. Most folks have no idea.
1 person likes this.
Reply 10 - Posted by:
DVC 9/28/2020 2:32:41 PM (No. 555559)
The Trump haters at the IRS say it's OK, so it's fine with me.
NYT lies, always.
0 people like this.
Reply 11 - Posted by:
BGray2 9/28/2020 2:36:27 PM (No. 555563)
If it weren't for lies and misdirection, the NYT would have nothing to print.
1 person likes this.
Reply 12 - Posted by:
czechlist 9/28/2020 3:24:08 PM (No. 555605)
Biden, 0, Clinton all set up 'S' Corporations or Foundations which can be lucrative but allow them to take meager taxable incomes which not only avoid high income tax but payroll ( Social Security and Medicare ) taxes as well; All legal. I am certain Trump's accountants ensure all of his deductions are legal.
Senator Biden was involved in the passage of the tax laws we all use to our advantage - I hate the use of " loophole" as if loopholes are illegal - they are not. I am also amused that we need lawyers and courts to interpret the laws our brilliant congress passes. Law, the 2nd oldest profession.
0 people like this.
Reply 13 - Posted by:
JimJr 9/28/2020 3:25:19 PM (No. 555606)
If I am not mistaken, possession of official tax documents without the expressed written permission of the tax-payer is a felony, as is publishing information from them. Regardless of how obtained. The law also does not provide a so-called "1st Amendment shield" in these matters.
3 people like this.
Reply 14 - Posted by:
FunOne 9/28/2020 4:14:41 PM (No. 555640)
Donald Trump earned his wealth in the private sector BEFORE he arrived in Washington, DC. In his second term, he needs to put the heat on the senators and congresscritters to release their tax records. The majority of them arrived at DC with a small bank account and became millionaires from their government influence. Case in point--the Biden family.
0 people like this.
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Comments:
Nobody ever explained real estate tax shelters to the NYT reporters. Or maybe they couldn’t hear with their hands over their ears?