Chump for President

[mrsleeve]

How many other Billionaires have occupied cabinet positions in the past??

Not very fucking many, I cant think of 1 actually off the top of my head. Next so you mean hes appointing successful people that know how to run things with many many employees likely spanning several continent's and know how to deal with others to garner a beneficial outcome for their business interests, in this case the USA.......... Hummmmmm Sounds awfully savvy and maybe even like something that has not really been tired in recent administrations

People that have enough shit and personal wealth that dont need to be trying to make side deals and selling influence while serving as SS, to enrich them selves and friends :Cough: Hillary :cough cough: huh sounds like an interesting concept, so crazy it might just work

I hope this dudes taxes get released eventually, can't wait to see he paid no taxes by deducting all kinds of business losses.

If he has all kinds of losses and didnt write them off I would be pissed off all to hell if he didnt write them off, thats why its in the tax code and legal.... Would you not write off your losses and business expenses , Oh wait you would have to have some kind of income and experience some losses 1st. You cant get pissed of just because someone has more than you and uses perfectly legal aspects of the law that are available for every single tax paying entity has at their disposal to use. That is the definition of class envy and its unbecoming of anyone that values our way of life in the USA.

I make more than you do, and itemize my deductions and write off my business expenses (travel, PPE, Required Clothing, etc....) and any losses I have with in my investments, am I a bad person too because I have more than you, and lower my tax burden all I can??? Why would a billionaire not do the same as me just on a bigger scale is beyond me.....

[2mAn]

I have a hard believing a billionaire is going to eliminate the tax loopholes that allow him to write off loses/ bad investments he made 20 years ago. The fact is that these loopholes allow the rich to keep more of their money, and with a cabinet full of billionaires why the fuck would they help the working man. They dont give a fuck about the middle class and mostly made their billions by exploiting poor people.

Yes, they have more money than they know what to do with, but that doesnt mean they are going to start using it towards the greater good, or change tax code that would help the overall economy while hurting their billions.

[mrsleeve]

I have a hard believing a billionaire is going to eliminate the tax loopholes that allow him to write off loses/ bad investments he made 20 years ago. The fact is that these loopholes allow the rich to keep more of their money, and with a cabinet full of billionaires why the fuck would they help the working man. They dont give a fuck about the middle class and mostly made their billions by exploiting poor people.

Yes, they have more money than they know what to do with, but that doesnt mean they are going to start using it towards the greater good, or change tax code that would help the overall economy while hurting their billions.

missing the point totally. I could care less about the tax code for the purpose of that post. it need to be simplfied, and yes the bigger the income the more likely hood there is for big losses. It helps you and I just as much as rich people, just scaled up to their income level.

The point of the matter is, people that are that successful take care of their jobs. If that job is running a large multinational company then their decision process is based on whats best for the company, if thats staffing decisions, capital allocation to which R&D projects or divisions of the company or negotiating royalty rates or tax implication with a foreign govt or corporate partners rates and share of the business. They make the decisions that give the best outcome to whom they are working for. I would suspect those very same skills that allowed them to thrive and run a highly successful business(es) would allow them to run their departments of the govt very well, and get the most beneficial outcomes for the USA when dealing with others around the world. By having a large pile of beans and large amounts of power as it is already it makes them less likely of being influenced by "side deals and offers" :cough: Clinton foundation :cough:

I see this all the time, there are guys in my industry that one job will be representing the gas company that is paying to have the project built as a gas company rep. Go to the next job they are working for the construction contractor and representing their interests, yet the next job, they are working for the 3rd party inspection company paid to be impartial and just keep an eye on quality. The point is we are paid well to do our jobs for our employer to the best of our ability, and whos "side" we are on can change when the job changes over. Its a common theme among those at the top of their fields that they do the best they can for those they work for, and the success comes from that reputation .

I guess it could be wishful thinking but I tend to think these appointments will do the same thing since they are working for the rest of us now, but then again I dont have that fundamental distrust of people that have a lot of money that seems to be all to common in this day and age. Time will tell I suppose, I have been wrong before but just that once.

Why is it always when someone has made vast wealth its always "by fucking over poor people"? I dont think I understand this mind set since most of these "poor people" buy the products or use the services freely. No one forces anyone into such things, unless of course it under penalty from the IRS for not buying health care insurance that is. You better fucking belvie they give a shit about the middle class, not our day to day lives, but who the fuck do you think they are trying to sell goods and services to by and large??? Unless of course your building yacht's, private jets, hyper cars, gold plated shitters etc.... most products are aimed squarely at the middle class. Another victim of class envy politics and ideals it seems.

[djjerme]

http://www.theblaze.com/contribution...s-tax-returns/

http://www.pewresearch.org/fact-tank...gh-to-be-fair/

The thing to remember with taxes, there is a lot of breaks and credits that the low end of the tax bracket can use. There isn't really any for the opposite. The deductions that the higher brackets use are available to any income level, it's just most choose not to and just take the standard deduction.

About the only benefit you'll receive as you get further up the scale, is Social Security. Once your income hits a certain level, you aren't taxed any more. Which is really not a benefit, since SS is somewhat like retirement savings in that you are paying toward your future payouts after you retire. I guess they figure if you are over $130K, you don't need any retirement help..

[LBJefferies]

The thing to remember with taxes, there is a lot of breaks and credits that the low end of the tax bracket can use. There isn't really any for the opposite.

Bullshit. First off, the EIC is the only break I can think of for low income. And that's peanuts really.

High earners deduct all sorts of stuff. And the smart ones just tie everything up into a business and then deduct all of it. Why do you think people criticize businesses for not paying taxes? Well that's why.

Trump, for example, keeps all his assets under a business which he controls and then writes everything off as business expenses. I guarantee his home, his jet, everything is under a business. At most he makes a small rent payment to Trump Inc. or whatever it's called and he pays taxes on that. It's probably less than your mortgage though seriously. He didn't pay shit for taxes that's why he hasnt released his tax returns.

And you know what I have no problem with that, it's the route I am going to take, but don't pretend that high earners pay out the ass for taxes because that's absurd. They didn't get rich by giving money to the federal government. They pay themselves first.

[Wschnitz]

Next so you mean hes appointing successful people that know how to run things with many many employees likely spanning several continent's and know how to deal with others to garner a beneficial outcome for their business interests, in this case the USA.......... Hummmmmm Sounds awfully savvy and maybe even like something that has not really been tired in recent administrations

(a) Except as permitted by subsection (b) hereof, whoever, being an officer or employee of the executive branch of the United States Government, or of any independent agency of the United States, a Federal Reserve bank director, officer, or employee, or an officer or employee of the District of Columbia, including a special Government employee, participates personally and substantially as a Government officer or employee, through decision, approval, disapproval, recommendation, the rendering of advice, investigation, or otherwise, in a judicial or other proceeding, application, request for a ruling or other determination, contract, claim, controversy, charge, accusation, arrest, or other particular matter in which, to his knowledge, he, his spouse, minor child, general partner, organization in which he is serving as officer, director, trustee, general partner or employee, or any person or organization with whom he is negotiating or has any arrangement concerning prospective employment, has a financial interest—
Shall be subject to the penalties set forth in section 216 of this title.


Maybe cause there are laws about this?



Doesn't seem to apply to trump though.

Also why do so many of your posts bring up Clinton even if no one else does??? Most if not all of us don't like Clinton, making most of your posts just straight up anti-democrat/liberal even if its not in the context.





Guys. We are talking about a president who hit 51% unfavorable rating in 8 days. Who decided fuck American values and its constitution are not worth paying attention too.

Even his own VP didn't agree:




By far my favorite part about this president is how he thinks the press is being 'unfair' 'sad' or 'nasty' to him, calling it #fakenews, then putting the chair of Breitbart, a site dedicated to manufacturing fake news, in his cabinet.

[mrsleeve]

these guys have to cut their ties to their business interests before they start working for the govt. Your point is just what really??? :facepalm: That dose not mean they have sell off all investments and other financial instruments.
;

as far as Clinton references its more of an anti corruption point than anti dem/lib dig.

[marshallnoise]

And Breitbart is not fake news in the least.

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[djjerme]

Bullshit. First off, the EIC is the only break I can think of for low income. And that's peanuts really.

Please don't quote me out of context and call bullshit.. Read the next line I said. All of what you described after that line is exactly what I said.

Tax breaks are not the same as deductions.

I know this, because I do it. My wife's company is an LLC, that means we have to pay tax on the profits (pass through taxation.) I also run a side business, which is what all of my cars, tools..etc are under so I can depreciate those assets depending on their initial cost and what their intended use is. As well, a lot of my friends own their businesses and do the same thing with capital purchases.

When you get up over 130K, you end up not being able to claim a lot of the tax breaks you get when you are in the 100K and under. No student loan interest, no Energy credits, no EIC, etc. Name me one break that applies as you make ABOVE a certain amount.

Once again, deductions are available to EVERYONE at ANY tax bracket. I itemized when I made less then 30K a year and was an Independent Contractor, and I do it still at what our family brings in now.

I will state again: Deduction are not tax credits.


And yes, the upper end does pay out the arse in taxes. It's just not in the same way as normal wage earners. Not everything is in cash, just because we get 300K worth of shares of a business, doesn't mean I get 300K in cash, but in the eyes of the IRS, that is counted as income and is taxed at 33%. And then at the end of the year it still counts as income.

There's a lot more to it and could discuss for hours, but I am not going to on this forum and it's something you should probably spend time with a tax professional talking about.

[marshallnoise]

Nice work djjerme. You know what you are talking about. I am an accountant by trade.

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[nando]

And Breitbart is not fake news in the least.

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lol. You are such a fool. You'd probably be the first recruit into Trumps' SS..

[djjerme]

Nice work djjerme. You know what you are talking about. I am an accountant by trade.

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HA, yeah, I was trying to be careful what I posted without getting too specific and being accused of giving bad tax advice. All I know is what has worked well for me (and even survived being audited.)

[marshallnoise]

lol. You are such a fool. You'd probably be the first recruit into Trumps' SS..

Obsessed with the Nazi stuff much?

[marshallnoise]

HA, yeah, I was trying to be careful what I posted without getting too specific and being accused of giving bad tax advice. All I know is what has worked well for me (and even survived being audited.)

Nah, you done good. It's all rather complicated but no one escapes taxes unless you take massive losses. That's the short of it.

[nando]

Obsessed with the Nazi stuff much?

no, but I'm not blind to what's going on.

Oh, the irony..

https://en.wikipedia.org/wiki/Fred_Korematsu

as far as taking this personally - I don't mean you - I mean my wife and family. No, we're not "Muslim" or from the list of banned countries, but my wife is here on a green card, and my kids are dual citizens. it's a slippery slope. Who's to say we won't be randomly stopped on one of our (many) border crossings and she's not allowed home? How do you think you would feel about that?

Also, what's the point of having a legal immigration system (which BTW, is a nightmare to get through) if we're just going to wipe it all away with the stroke of a pen? This is exactly why so many people end up coming here illegally. Pretty much every single one of us is descendant from immigrants - this whole weekend has been madness.