Donald Trump Tax Write-Off: Thoughts?
What are your thoughts on this new information? Do you believe, as Trump's Campaign claims, that this only demonstrates how savvy he is with his business? Or do you question, as the Clinton Campaign does, why Trump wouldn't have simply released this information if he is proud of it?
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One thing that really bothers me is that those "losses" are disproportionate to the amount of money he actually had invested. His personal losses were a paltry some in comparison to the almost a billion in declared losses, meaning that he was able to personally benefit from the failure of his business. Then when running for president, he advocates for more policies that would benefit himself personally. The question is about ethics more than legality. The point is that he dodged taxes and contributed no taxable amounts to the government and was essentially free loading on his country. (Apart from investing in it, but it's obvious that never went too well) Republicans are quick to fret about wasted tax dollars on socialist programs but whenever someone is flat out refusing to pay taxes in the first place what's the argument? "It's not illegal!" Whether he was savvy or not with avoiding taxes for a couple decades, I doubt he was proud to have lost close to a billion to let it happen. Clinton's campaign wants to claim he managed to avoid paying taxes meanwhile tens of millions of Americans continued to pay. Well, those tens of millions also didn't lose that kind of money. When it comes down to it, it's our tax system and laws that allowed him to avoid paying taxes so they are responsible for it. No one pays more than they are required. No one makes additional donations to the US government for taxes they don't owe. Did he take advantage of it? Maybe. Just like Clinton took advantage of donating $1 million to her own damn foundation to reduce her taxable income. Blame the existing laws for it, not the candidates. 1
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Two ways to view this allegation. I consider it an allegation until we all have sight of his tax returns. Company law is complex with plenty of ''wriggle room'' for a firm of good accountants/company lawyers. If successive governments have not passed laws to close the loopholes then, like some of America's giant corporations, such as Apple, Google, Starbucks, and perhaps Trump's businesses, those weaknesses in the law will be exploited. On the other hand I feel it is unpatriotic if not treacherous to avoid paying your just and lawful taxes to help support the country which enabled you to generate your personal wealth by providing a politically stable environment within which to conduct your business affairs and fostering a marketplace in which enterprising entrepreneurs can prosper. Tax avoidance and tax evasion are two separate things. Legally playing within the tax rules may be avoidance but it's still legal. I actually don't have an issue with his giant write-off as long as it is legal. It may be bad for his political image but it is legal. I have zero doubt, however, that he has many other red hot examples of tax evasion, and his blending right now of his company resources and foundation resources and campaign resources, combined with many other times he abused reporting rules, is ultimately what is going to do him in on the taxes. 1
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No, of course not. But what I am aware of is that Trump supporters will not consider tax avoidance a bad thing - to the contrary they'll applaud it as being smart - so unless his action is outright illegal we gain nothing by pounding on it. Meanwhile I'm feeling quite confident he has lots of provable tax evasion, and that's where we get to sink him. |
