House Democrats ask IRS for Trump's tax returns

[BmorePat87]

(04-05-2019, 03:32 PM)Mike M (the other one) Wrote: Trump pays less in % than we do. Much of that has to do with the fact that if you make over $2mil/Year then the SS is capped at $128k. I don't understand why it was capped, needs to be uncapped, so that it's the same % for everyone.  But that's a different thread.

If he pays a lower rate, it has little to do with that. It has more to do with how his income comes in (wages versus capital gains), the ability to take advantage of deductions, and the ability to funnel a higher amount of income towards tax deferred accounts. You can also undervalue the worth of your properties, pay a smaller tax bill on them, and then in turn sell them for what they're actually worth. You can also set up LLC's and other legal entities to help move the money around to avoid paying the required taxes on it. 

The SS cap has to do with making the system fair in that you only pay what you can get back. 

[GMDino]

BTW...there is ALWAYS a tweet:



https://www.theguardian.com/world/us-news-blog/2012/oct/24/donald-trump-barack-obama-records

https://www.washingtonpost.com/politics/trump-demanded-obamas-records-now-more-are-asking-where-are-trumps/2016/08/12/b536925a-5ff3-11e6-9d2f-b1a3564181a1_story.html?noredirect=on&utm_term=.52842b4ab3c2

[GMDino]

I'm starting to get the idea that it isn't about being audited but maybe Trump is hiding something?

https://www.nytimes.com/2019/07/23/us/politics/trump-tax-returns-new-york.html

[Mike M (the other one)]

(07-25-2019, 03:33 PM)GMDino Wrote: I'm starting to get the idea that it isn't about being audited but maybe Trump is hiding something?

https://www.nytimes.com/2019/07/23/us/politics/trump-tax-returns-new-york.html

I doubt it, He has the means to play the laws to favor him. We all would if we could, so I really doubt their will be much to see from it.
He's just keeping the tin foil people super busy and his name in the news.

[GMDino]

(07-25-2019, 05:57 PM)Mike M (the other one) Wrote: I doubt it, He has the means to play the laws to favor him. We all would if we could, so I really doubt their will be much to see from it.
He's just keeping the tin foil people super busy and his name in the news.

Maybe...maybe not.

Cockroaches don't like when the light is shined on them.