Tax 2.0 lesson for New York Times (rhymes with ‘slimes’) … So if in doubt, and you have ‘nowt, chase the president’s taxes. New York Slimes (er, ‘Times’) slinging their spurious tax story out yet again. O wait, Amy Coney Barrett just emerged Saturday afternoon and the BiteMe / Trump debate (if ‘C’mon Man’ can actually get out of the cellar) Tuesday – C’mon, man! What isn’t getting mentioned about the NYT tax story that is very important is that “nobody gives a rip or a flying cow pat cookie about Trump’s taxes”.
Every single reporter and editor that saw or dealt with that story is jealous they aren’t able to hire the tax attorneys and accounting firms Trump is able to hire. You mean to tell me with a straight face there isn’t one of them who at least once in their adult life has wished out loud they didn’t have to pay any income tax? Never? Ever? C’mon, man!!
In addition to the financial, banking, and tax 2.0 code illiteracy, the New York Times is also stupid enough to run this story that underlines that there are no Russians involved and that rat lawyer Cohen is a total fraud. Great work Gray Lady. By the way, most of us don’t care what PDJT does with his $400K Presidential salary. He earns every penny and is actually taking a pay cut working for us. At $400K we’re getting a bargain because he delivers MAGA and KAG by the trainload.
And most of us know of course, that he gives the $400K away every quarter to various and sundry causes. Just how many other government millionaires do THAT for their constituents? C’mon, man!
So here’s an idea – perhaps someone in President Trump’s orbit might delve deep into Arthur O. Sulzberger, Jr’s tax records and the tax records of the NYT’s Corporation. Could be interesting to say the least. Then there’s “Where’s Hunter?” I’m really starting to not like those guys at the NYT.
By the way, in mentioning Hunter, how was their reportage on Hunter Biden scoring a cool $3.5 million from the billionaire widow of the deceased mayor of Moscow. Any reports on how much he paid in taxes on that? What kind of business was that connected to? Real estate? Influence peddling? Nepotistic kickback? Mmmmm? Say it ain’t so, Joe. C’mon, man!
Besides businesses working 24/7 to reduce tax 2.0 liability, if anybody who owns tax-deferred (retirement) savings instruments, pays even the slightest attention to their holdings and opens an on-line account with the financial institution(s) holding the funds, there are scores of webinars, classes, papers, articles et al offered by the financial institution(s) on recommended ways to “reduce tax liability”.
Once again We the (63 million) People have a form of a two-tiered justice system being applied. Heck, most every business person I know keeps a running Form 1040 on their free Turbo tax account, throughout the entire tax year to look at options to reduce tax liability. C’mon, man!
Sundance, Conservative Treehouse: ‘NYT Fails at Outlining Pres Trump’s Taxes – Again’ …
Once again the New York Times attempts to make an issue out of President Trump’s real estate holdings working as a tax shelter and reducing income taxes. In the article the Times completely obfuscates the way income taxes are strategically offset by depreciation, mortgage interest and the entire reason why real estate ownership is viewed as a business.
John Carney writing for Breitbart gets it: […] So imagine our guy took out an $8 million mortgage at five percent, paying $2 million cash. Now he’s got to pay $400,000 in mortgage payments. He wants to make at least that much so he charges tenants an aggregate of $425,000, which after upkeep comes out to $410,000 of net income. (Remember, if the bank didn’t think he could make more in rent than the mortgage payment, it probably wouldn’t have lent him the money.) The interest payment on the loan–let’s call it $390,000–is deductible from his income, leaving him with $20,000 in net income. He gets to keep that and pay no taxes on it, however, because he still gets to apply the $370,000 depreciation charge. He tells the IRS he lost $350,000.
Under our tax code, ordinary business expenses can be deducted in the year they are incurred. But when a business pays for a long-lasting item expected to produce income–like machinery, vehicles, or an apartment building–it is considered a capital investment. Instead of getting to write-off the cost all at once, the business is required to write it off over the course of decades. After the 1986 tax code, this was set at 27.5 years for residential real estate. (more)
Anyone who has ever operated a business knows that offsetting income is one of the primary reasons to be self-employed. Additionally, the Times completely skips over the tens-of-millions in payroll taxes paid by the Trump organization and tens-of-millions in property and sales taxes paid by all of the various Trump properties. [-]
[+] … In practical terms no President before Trump has ever had his actual business portfolio so deeply connected to the success of the American economy. It doesn’t cost the American taxpayer a dime to have President Trump in office…. Now let’s figure out how DC politicians making $200k/yr are able to become multi-millionaires while holding office.
Full report link below…
The New York Slimes (very occasionally rhymes with ‘Times’) is definitely a piece of work; tax avoidance isn’t illegal as millions of Americans know, but the idiots convoluting the Slimes don’t understand the difference between tax avoidance and tax evasion. For the dumbstruck here’s a practical example, guaranteed being used by the Slimes’ ‘higher-ups’:
If I’m driving from point A to point B and choose to not take a toll road, but instead take a public road, I have avoided a tax in the form of a toll road fee. But if I take the toll road and blow through the toll gate, I have now committed tax evasion. The former is legal, the latter is illegal. The Slimes admits to such in their headline that nothing was done wrong. ‘C’mon, Man!’
OBO#44, Joe BiteMe, Pelosi, Schumer, Schiff, Nadler, Feinstein, Waters and her banker husband, former leader of the Senate One-Eyed ‘Arry Reid and the entire demoMarxocrat bunch are the ones who need their taxes looking into. ‘C’mon Man!
The Great One Mark Levin has taken the foul Slimes to the carpet too many numerous times to count, and no doubt will come out swinging again later today, but in his latest book ‘Unfreedom of the Press’, Chapter 6 titled “The New York Times Betrays Millions” Levin reveals all anyone needs to know regarding the veracity of Satan’s mouthpiece.
The tax 2.0 NY Slimes belongs at the bottom of every bird cage and puppy crate in America and needs to be buried for good. C’mon, Man!
And on that note, time for today’s MAGA Pill – President Donald John Trump making America great again each and every day. C’mon Man!