The New York Times drove some more voters into the Trump camp this weekend, attempting to make an issue of the fact that Trump uses business and financial losses to minimize his taxes. Horrors! Who doesn’t? You’d be a fool not to if you have such losses. (SLL has tax loss carry-forwards. If each SLL reader would buy, say, 50 copies of The Golden Pinnacle, it would generate enough royalty income for SLL to offset those carry-forwards.) From Stilton Jarlsberg at theburningplatform.com:
Political scandals aren’t what they used to be. As a case in point, the NY Times has gone front page crazy with a story screaming that over the past few years, Donald Trump may have paid all the federal income tax he legally owed – which possibly, and only possibly, equalled “none.”
Note to the apparently clueless NY Times: “Man Pays Correct Amount of Taxes” is not a scandal. In fact, it’s not even interesting.
This story, which Hillary Clinton very, very coincidentally alluded to prior to its publication during the debates (perhaps the result of the psychic visions she’s had since her violent head trauma), was written based on illegally obtained tax information which shows…no wrongdoing. Honest.
Rather, Trump’s business lost nearly $1 billion in 1995 and IRS regulations allow all businesses to apply such financial losses to their future taxes. In this way, our government encourages businesses to grow and take risks through active investment rather than just sitting on their assets. This results in “job creation”…and Hillary is against it.
As Trump has repeatedly stated, he has been audited many times since 1995 – and the IRS (which is hardly nonpartisan) has found absolutely nothing wrong. So what’s the big deal now?
The big deal is class envy, stoked to a fever pitch by the wildly (and mysteriously) wealthy Hillary, and the fact that Democrats are complete chowder heads when it comes to understanding anything at all related to business or finance. Moreover, the case against Trump is entirely speculative, unlike the known facts about the NY Times itself – which paid $0 in taxes in 2014 despite making a pre-tax profit of $29.9 million. Better still, they also got a $3.5 million tax refund paid for by working citizens who aren’t lucky enough to have a legal team on staff.
Frankly, Hope n’ Change is against paying even a penny more than we legally owe in taxes, and we salute Donald Trump and his accountants for having the same attitude. And let’s not forget that to get his tax breaks, Trump had to lose almost a billion dollars – and we’re guessing that’s not a tax strategy most people would enjoy employing.
As for Hillary, we can only hope that her new slogan, “We’ll Make You Pay More Than You Owe,” is clearly heard by every voter in the land.
http://www.theburningplatform.com/2016/10/03/no-taxation-without-misrepresentation/
