It's been 458 days since Donald Trump has announced that he is running for President... It has been 458 days since he has NOT released his TAX RETURNS... I am going to post this everyday so you can see the difference between Rich privilege and America privilege... Every president in the last 4 decades have released theirs but him... No Tax Return No Vote for TRUMP! Spread the word!!!

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Dianereynolds's picture
Dianereynolds 3 years 18 weeks ago
#1

Post away every day if it makes you feel better but if I were Trump, I would not give the press or left anything to pick apart. Especially my tax returns which Trump stated he would divulge if Hillary presented the text of her pay for play speeches to the Wall Street bankers that contributed so heavily to her campaign and foundation.

All they found on Romney is how he put his dog on top of his car and correctly stated that 47% of the eligible voters were not going to vote for him regardless. Thom beat him up daily on his wealth. The Clintons have as much wealth and not a peep.

zapdam.'s picture
zapdam. 3 years 18 weeks ago
#2

Diane

What's Trump afraid of, being found out he's a fraud? We kind of already know that, but if Trump was as transparent he critcizes everyone else for not being, IE Obama's birth certificate, Hillary's emails, then Trump would gladly release the information on his finances , that i might add even his vice presidential pick Pence has done already. What's he hiding, maybe assets in Kenya or the fact that his claim of his 10 billion dollars in wealth is just all hot air. Maybe he's afraid to show the hard working Americans as a billionaire, he pays no taxes and freeloads on society. Maybe its all those claims by him that he's so kind and philanthropic will be proven to be just more lies and bullshit. So tell me Dianereynolds what's he hiding.

Dianereynolds's picture
Dianereynolds 3 years 18 weeks ago
#3

As his campaign manager I would instruct him to give nothing to the opposition to use as ammunition. As Thom Hartmann often cites, "that's politics".

You know, sort of like the text of the dozens of speeches Hillary Clinton has given to wall street bankers for millions of dollars in speaking fees. "That's politics"

EvilRichGuy's picture
EvilRichGuy 3 years 18 weeks ago
#4

Trump's tax return is not a mystery.

He is a real estate developer and real estate developers rarely show profits. Real estate provides depreciation deductions which reduce immediate tax liability while the lion's share of the profits are deferred until the property is sold.

For example...

Let's say that I buy a building for $10 million. That building might generate $350,000 per year in income (around 3.5% return on investment.) However, it also generates a depreciation deduction that is often more than the income. It's tough to quantify what the depreciation deduction is because there are complex rules and different depreciation schedules for the building, the furnishings and the land. But, suffice it to say that the income is sheltered particularly during the early years of ownership.

Often, there is appreciation in the underlying asset. Let's say that rents rise over the term of ownership, raising the income of the property. If the income doubles (which can happen over a 5-10 year period of rising rents), the value of the building has doubled, if you apply the same 3.5% income ratio (called a cap rate). However, none of this income is reported until the building is sold. The reason it isn't reported is that federal tax regulations (unlike property taxes) do not look at the value of property. In other words, the operating income is sheltered, and the market value appreciation is invisible.

When the property is sold no income is reported if buying a larger building. In other words, market value appreciation may NEVER be reported or taxed.

I'm not stating an opinion on whether this is right or wrong, but it is a fact of real estate investment. Politicians put the current tax system together and more than one political candidate has said that the system needs changed, including Mr. Trump. The federal tax rules on real estate reach back for as long as I can remember and weren't established by either Mr. Trump or Ms. Clinton.

This is a complex topic and not one that can be explained easily. But, I am quite confident that Trump's tax as a percentage of income is much lower than Hillary's. Speaking fees do not come with special rules in the tax codes.

Trump should not be penalized for legally and correctly filing his tax returns, but that's not how the system works. The public would be outraged by the fact that Trump shows no income on his tax return, and it would be a deteriment to his campaign.

I should add that it is not uncommon for real estate developers to go broke. They live on the edge, usually leveraged to the hilt. Smart ones can make a lot of money, but even the smart ones can fail. It's a much longer discussion, but Trump managing to survive and prosper through good and bad times is a tribute to his ability to succeed. Real Estate may come with upsides but there are lots of ways for it to go wrong. It isn't all easy money and big tax deductions. It's big risk and big reward.

Dianereynolds's picture
Dianereynolds 3 years 18 weeks ago
#5

EvilRichGuy, you are 100% correct. Releasing any information to the tax ignorance of the press or general public would serve him no purpose. Just look at what the idiots tried to start with the Skittles analogy. The only muck they didn't rake up with that comment was trying to connect Trump to the Treyvon Martin case.

Less can be more when your opponent is swimming in a shitstorm.

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