RE: 2020 US election - It Came from Washington DC
09-28-2020, 02:29 PM (This post was last modified: 09-28-2020, 02:46 PM by Jinx999.)
09-28-2020, 02:29 PM (This post was last modified: 09-28-2020, 02:46 PM by Jinx999.)
From what I've read
1) It isn't unusual for a President or Politician to be audited by the IRS, just as a matter of general principle or as a precaution. You can't draw any conclusions from this.
2) Being audited does not interfere with your ability to release your tax records to the public.
3) It's also not that odd for a sucessful or prominent buisnessman to end up so heavily leaveraged that they have negative net worth. I remember hearing about one once (can't remember the name), and the banks were still eager to lend him more so he could make the money needed to pay them back, they trusted his skills to that extent. I don't personally consider this terribly sane on their part and I don't know if it worked. It's even less unusual for one to be feeding money from sucessful buisnesses to ones that cost money.
4) Assuming the NYT report is at all accurate, Trump is either not that good a buisnessman or he's blatantly abusing the tax system or both. I don't know enough to speculate on what exactly.
5) The NYT has invested a lot of its reputation into the accuracy of this report and they will have double checked. The figures will have come from a tracable source and passed a smell test. Either they're reasonably accurate or . . . I mean it's possible that someone in the Trump campaign has released a provably false fake accounts in order to discredit their opponents, but I don't think this is likely. Unless Trump actually releases his tax records, the NYT report is as trustworth a source as we're likely to see.
6) It's possible that his tax avoidance scheme is legal. It'd still be in a grey area where it'd only be legal for the immensely rich people who can afford teams of creative accountants and lawyers. It's still an abuse of the system and places more burden on anyone who isn't Donal Trump
1) It isn't unusual for a President or Politician to be audited by the IRS, just as a matter of general principle or as a precaution. You can't draw any conclusions from this.
2) Being audited does not interfere with your ability to release your tax records to the public.
3) It's also not that odd for a sucessful or prominent buisnessman to end up so heavily leaveraged that they have negative net worth. I remember hearing about one once (can't remember the name), and the banks were still eager to lend him more so he could make the money needed to pay them back, they trusted his skills to that extent. I don't personally consider this terribly sane on their part and I don't know if it worked. It's even less unusual for one to be feeding money from sucessful buisnesses to ones that cost money.
4) Assuming the NYT report is at all accurate, Trump is either not that good a buisnessman or he's blatantly abusing the tax system or both. I don't know enough to speculate on what exactly.
5) The NYT has invested a lot of its reputation into the accuracy of this report and they will have double checked. The figures will have come from a tracable source and passed a smell test. Either they're reasonably accurate or . . . I mean it's possible that someone in the Trump campaign has released a provably false fake accounts in order to discredit their opponents, but I don't think this is likely. Unless Trump actually releases his tax records, the NYT report is as trustworth a source as we're likely to see.
6) It's possible that his tax avoidance scheme is legal. It'd still be in a grey area where it'd only be legal for the immensely rich people who can afford teams of creative accountants and lawyers. It's still an abuse of the system and places more burden on anyone who isn't Donal Trump