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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsPlease explain to me what can be found in Donnie's tax returns
Sorry if this question is simplistic but I just don't know corporate (or personal) income taxes too well.
When hubby and I file our taxes, all we have are real estate taxes, some income from bank interest, and mortgage interest deductions.
Other than showing what that Donnie personally isn't worth "billions and billions" (in the immortal words of Carl Sagan), where would the loans from Russia show? He doesn't have to deduct anything - he just has to show income.
Also, the tradition isn't to reveal corporate taxes, just personal income taxes.
So please help me understand.
Thank you
MichiganVote
(21,086 posts)obnoxiousdrunk
(2,910 posts)The only way Don is worth 10 billion is if Mark Cuban lends him 9.5 billion ...
yeoman6987
(14,449 posts)obnoxiousdrunk
(2,910 posts)it was a joke that Marc Cuban said.
A HERETIC I AM
(24,370 posts)Imagine if you had to file forms for 20 or so corporate entities, all of which you own and generate income for you, as well as having several in the red, etc. etc.
He has more financial skeletons in his closet than most of us can imagine.
Cicada
(4,533 posts)Income or loans from Russia would not likely appear on his personal returns. And if he failed to take a personal exemption deduction it would confirm suspicions that Putin takes Trump as a dependent.
konnie
(44 posts)they will show nothing. any capable/corrupt cpa and corporate lawyer can game the system easily. shell corporations, offshore accounts are the standard. the returns would show very little taxable income for the person drumf. it would take a fully funded forensic accounting team months if not years to track multiple corporations, owners, board members, executive staff,verify income and outgo. when he says he is being "audited" by the IRS, chances are he is.
if drumpf shows his returns and he is only paying taxes on say a personal after expenses income of $1,000,000 his troglodyte jock straps will cheer. they will not be swayed. the media can rant and rave and expose him as a fraud but those moron followers will know in their heart of hearts and pea sized brains, their hero is paying top dollar to hide his 'real" money and if elected he will share those tricks with them.
releasing your personal income taxes is a courtesy, not a rule or law. the megalomaniac
doesn't have to. before this election anyone hiding income or paying less than his "fair share"
would have been scorned and drummed out of the race. not on 2016. the inmates are in charge of the asylum.
gratuitous
(82,849 posts)It's a pretty easy concept to grasp, his refusal goes against the unwritten rules of candidate disclosure, and the subject makes Donald stamp his tiny feet and shake his little fists in aggravation. So the issue works for me. A few mutterings about Trump's trustworthiness and what is he hiding, and even the lowest information voter looks askance at Trump.
Adrahil
(13,340 posts)1) How much tax he pays. Donnie no doubt uses every trick in the book to claim he makes no money, and therefore pays effectively no taxes.
2) That he's a liar. Don the Con claims he really really rich and makes so much money he can barely spend it. He's either lying to the voters, or to the IRS.
I have 100% confidence that his tax returns would be devastating to him, or at least the image projects. Why else would he hide them?
treestar
(82,383 posts)How has it become the tradition?
Maybe they would show the conflicts of interest - the reason they have to put everything in a blind trust anyway so none of their decisions look like they are trying to benefit them financially.
I guess it proves they are honestly paying their taxes.
I think Donnie would take any deduction he could in order to lower his taxes.