[POLITICS] Trump Admits Tax Fraud

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Lil devils x:

Kwak:

Fieldy409:
[quote="Saelune" post="18.1056966.24302826"]

If Trump tried to influence law with bribes: thats scummy, if he broke the law: thats scummy, but if he found legal ways to get his tax as low as possible or even claim losses for a year and he did it legally, that is really the governments fault for not having a better system if it was wrong.

And scummy.

+1 Just because something has not been made illegal yet does not mean it is okay to do. Things are not harmful because they are illegal, instead it is things become illegal over time because they are harmful. Regardless of legality status, the actions are still harmful to society and yes, scummy to participate in.

See I don't know if you guys are actually saying this or not. But claiming depreciation tax cuts and tax cuts for making a net loss one year because you invested heavily into things like new equipment or whatever spending that year are not scummy to me.

If anything it rewards spending and keeps money circulating, which is good since I think economically one of the worst thing you can have is a rich person/entity hoarding their money and not spending it.

Fieldy409:

Lil devils x:

Kwak:

And scummy.

+1 Just because something has not been made illegal yet does not mean it is okay to do. Things are not harmful because they are illegal, instead it is things become illegal over time because they are harmful. Regardless of legality status, the actions are still harmful to society and yes, scummy to participate in.

See I don't know if you guys are actually saying this or not. But claiming depreciation tax cuts and tax cuts for making a net loss one year because you invested heavily into things like new equipment or whatever spending that year are not scummy to me.

If anything it rewards spending and keeps money circulating, which is good since I think economically one of the worst thing you can have is a rich person/entity hoarding their money and not spending it.

Unfortunately, when Trump refers to the whole affair as "sport" then it becomes fairly obvious that he really is just trying to hoard wealth and the expenses are more fictional losses cooked up on a spreadsheet rather than real investments of funds.

After all, I have heard more than one accountant from the entertainment industry talk about how, if you portray the numbers in the right way, you can claim that the movie Return of the Jedi has not returned a profit on the original investment put into its production. That's why it comes across as more scummy than honest investments.

Fieldy409:

Lil devils x:

Kwak:

And scummy.

+1 Just because something has not been made illegal yet does not mean it is okay to do. Things are not harmful because they are illegal, instead it is things become illegal over time because they are harmful. Regardless of legality status, the actions are still harmful to society and yes, scummy to participate in.

See I don't know if you guys are actually saying this or not. But claiming depreciation tax cuts and tax cuts for making a net loss one year because you invested heavily into things like new equipment or whatever spending that year are not scummy to me.

If anything it rewards spending and keeps money circulating, which is good since I think economically one of the worst thing you can have is a rich person/entity hoarding their money and not spending it.

That isn't what Trump does. If you have listened to him over his lifetime, he didn't "invest in equipment" and such, he never actually paid the vendors and kept the equipment. He always gamed the system to make everyone else pay for his losses while it did not impact him in any real way. He always pushed losses off on vendors and taxpayers while literally buying himself diamond and gold encrusted doors while making everyone else pay for his bad management of his businesses.

He would put down a down payment to vendors and then refuse to pay the rest once they delivered the products and services and threaten and intimidate them into giving up and taking the loss. Trump literally stole from people and wrote it off at the same time.

https://v1.escapistmagazine.com/forums/read/18.1056966-POLITICS-Trump-Admits-Tax-Fraud#24302848

https://www.dailymail.co.uk/news/article-3938844/Inside-President-elect-s-100-million-penthouse-Donald-Trump-s-gold-rimmed-candy-bowls-toy-personalized-Mercedes-10-year-old-son-coloring-pencils-wife-painted-ceilings-depicting-Greek-Gods.html

TBH, Trump should be forced to pay everyone he stole money from ( including taxpayers) with the contents of his properties. No one who has Gold and diamond encrusted doors should be able to get away with not paying vendors and writing off their taxes. Hell he even paid off his lawsuits with his fraudulent charity. You should not be able to steal from people and write it off at the same time. He has been able to live lavishly by conning others out of what they had actually earned. The man should be in prison for fraud.

Fieldy409:

See I don't know if you guys are actually saying this or not. But claiming depreciation tax cuts and tax cuts for making a net loss one year because you invested heavily into things like new equipment or whatever spending that year are not scummy to me.

If that's what it's doing - promoting R&D, improved productivity, etc. then potentially okay.

However, it seems to me a lot of it - Trump's business being a potential example - ends up as creative accountancy. At this point there's a disjunct between beneficial intent and result: ultimately, just a bunch of people creaming money off the government. Pay less tax, claim more subsidy. (And they say the problem with socialism is running out of other people's money...)

I would be interested in what the total societal / economic benefit really is. Because this sort of thing seems to me to have a huge risk of being a kind of exploit often with the likes of you and me who lack battalions of tax lawyers paying for it.

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