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Why should I pay federal income tax?

MrPeanut said:
If you are rich or poor enough not to pay taxes then you don't have to. Everyone else definitely needs to pay their taxes.
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In other words, you want to totally ignore the millions and millions of dollars that Trump had paid in the past? There is a reason why businesses and individuals can write off losses. The more losses, the more you can write off.
 
natsb said:
How do you know what he paid in Federal income taxes? If you are going to take the moral high ground, shouldn't you at least have some facts to back you up?

When you start your conversation with the IRS agent with the words "I believe", it is going to be a short conversation.

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The left demands proof of everything, except when it comes time for them to provide proof. Then facts are not necessary.
 
natsb said:
How do you know what he paid in Federal income taxes? If you are going to take the moral high ground, shouldn't you at least have some facts to back you up?

When you start your conversation with the IRS agent with the words "I believe", it is going to be a short conversation.

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OMG!!!!!! Did you not watch the debates and hear the man talk about him being smart that he did not pay taxes????? :shock::doh:roll:

But lets just check his return..... oh WAIT!!!!!! He said F YOU to the country on producing that return so we cannot do that.
 
Moderate Right said:
In other words, you want to totally ignore the millions and millions of dollars that Trump had paid in the past? There is a reason why businesses and individuals can write off losses. The more losses, the more you can write off.
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I think when the losses are around a billion dollars it is irresponsible for the government to pay for that. Small losses to help small businesses avoid all of the early bumps in the road can be important, but when you're decades into your career and you've built a massive amount of money you shouldn't need the government's protection anymore.
 
haymarket said:
OMG!!!!!! Did you not watch the debates and hear the man talk about him being smart that he did not pay taxes????? :shock::doh:roll:

But lets just check his return..... oh WAIT!!!!!! He said F YOU to the country on producing that return so we cannot do that.
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So you have no proof then.
 
katzgar said:
not true, trump isnt president till next year. civics 101
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I was only pointing out that was what I think the OP meant. Also that is why it is in italics.
 
Hillary: .....they showed he didn't pay any federal income taxes....

Trump: "That makes me smart"

 
haymarket said:
the proof was from Trumps own lips where he admitted that not paying taxes was smart. that is as good as it gets when it comes from the horses mouth.

In case you missed it

Donald Trump: 'I'm smart' for not paying taxes - CNNPolitics.com
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So, you have no proof. Suspected as much. Nobody does.

I suspect that there is no room in your head for considering he may have just been being smug. I also suspect that you know Hillary is a criminal because Trump said so. Of course you are not one of those people with selective hearing, are you?

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natsb said:
So, you have no proof. Suspected as much. Nobody does.

I suspect that there is no room in your head for considering he may have just been being smug. I also suspect that you know Hillary is a criminal because Trump said so. Of course you are not one of those people with selective hearing, are you?

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You have the mans own admission.

There are none so blind as they who will not see. That fits your ostrich denial to a tee.
 
haymarket said:
I wonder what would happen five or ten or more millions of citizens did that?
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That is a very good question - it would take decades to try that many cases so, like illegal immigration, I would imagine that a priority sysem would be used.
 
haymarket said:
Next April 15, Americans are legally bound by law to file their Federal Income tax returns. And on that date the President of the USA sitting in the White House will be Donald Trump. Now it has come out during the campaign that Mr. Trump in all likelyhood did pay any federal income tax for a good many years and did so legally despite being a billionaire and a man of great personal wealth.

So a simple question - why should I ... or anyone for that matter ..... pay federal income tax if the leader of our nation has not done so for many years?
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If the law is such that you don't owe any tax, you shouldn't pay any tax. If the law is such that you owe tax, then you should pay it or risk serious consequences courtesy of the federal government.

I would imagine not a single one of us voluntarily pays something in taxes just because we are good citizens. We pay the taxes because the law requires us to.

Donald Trump is absolutely in the right by not paying taxes that he does not legally owe. Those who think it is wrong that he didn't owe any taxes should petition to have that law changed so he can't legally avoid taxes. Of course if we do that, it means we can't legally avoid paying taxes either in those cases that we can now do that.
 
ttwtt78640 said:
That is a very good question - it would take decades to try that many cases so, like illegal immigration, I would imagine that a priority sysem would be used.
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Most income tax is collected by employers by statute and remitted to the gvmt on taxpayers' behalf. If I had to guess, the IRS would attach business's bank accounts and other assets and begin assessing penalties and interest immediately. Steep penalties and steep interest. Most people, the ones with brains, would fold. Same with individuals. The IRS is as close to all-powerful as we have in a gvmt agency. It's very unwise to **** with them.

I agree with you about the priority system, but as it worked down the list, those penalties and interest charges would be breath-taking.
 
MrPeanut said:
I think when the losses are around a billion dollars it is irresponsible for the government to pay for that. Small losses to help small businesses avoid all of the early bumps in the road can be important, but when you're decades into your career and you've built a massive amount of money you shouldn't need the government's protection anymore.
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You pay taxes on profits. If you have a lot of profits year after year, you pay a lot of taxes year after year. If you have losses you have negative profits, meaning you pay no taxes until those negative profits finally rise above sea level, which is what he has done. He paid no taxes because he had no profits, just as 47% of Americans pay no federal taxes for several years in a row.
 
jonny5 said:
No, as good as it gets would be documentation. All you have is a joke.
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So evertime Trump lets his lips loose and then steps in a pile of his own making - the excuse is he was just joking. OMG!!!!!!
 
haymarket said:
So evertime Trump lets his lips loose and then steps in a pile of his own making - the excuse is he was just joking. OMG!!!!!!
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You're engaged and outspoken, so I would imagine you also have some familiarity with tax laws.

While your projecting with regards to President Elect Trumps taxes, as a developer it's quite likely his tax burden is very low.

There are reasons for that.

President Elect Trump puts 100's of millions into play. Thousands of jobs are created, lot's of people benefit. Tax laws are such that should losses occur in the process, they can be deducted.

Why should business people who take on high risk, especially developers, be judged by the amount of personal income tax they pay? For the larger ones, the amount of tax revenue their activities generate is significant.

I get the butt hurt, jealous greed thing, but as active and connected to the pulse as you are, certainly you know President Elect Trumps tax issue is not a negative, considering his business activity.
 
Moderate Right said:
You pay taxes on profits. If you have a lot of profits year after year, you pay a lot of taxes year after year. If you have losses you have negative profits, meaning you pay no taxes until those negative profits finally rise above sea level, which is what he has done. He paid no taxes because he had no profits, just as 47% of Americans pay no federal taxes for several years in a row.
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Many if not most taxpayers pay taxes on wages, not profits. The taxes are withheld from their wages, their weekly paycheck.
 
haymarket said:
Next April 15, Americans are legally bound by law to file their Federal Income tax returns. And on that date the President of the USA sitting in the White House will be Donald Trump. Now it has come out during the campaign that Mr. Trump in all likelyhood did pay any federal income tax for a good many years and did so legally despite being a billionaire and a man of great personal wealth.

So a simple question - why should I ... or anyone for that matter ..... pay federal income tax if the leader of our nation has not done so for many years?
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your argument assumes that you and the uber rich are operating under the same set of rules. you aren't, and there's very little that you can do to fix that.

the answer to your question, though, is that you're a member of a premier first world society, and we all have to chip in to maintain that. it's sad that the president as of January 21st will be a drunken 12 year old, but that doesn't absolve any of us from paying our taxes. the cable bill still has to be paid even if the household watches nothing but skinimax, sitcoms, and Maury Povitch.
 
haymarket said:
Next April 15, Americans are legally bound by law to file their Federal Income tax returns. And on that date the President of the USA sitting in the White House will be Donald Trump. Now it has come out during the campaign that Mr. Trump in all likelyhood did pay any federal income tax for a good many years and did so legally despite being a billionaire and a man of great personal wealth.

So a simple question - why should I ... or anyone for that matter ..... pay federal income tax if the leader of our nation has not done so for many years?
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If you can claim a business loss that equals the amount you are required to pay, then you don't have to pay anything for that year.

I bet you don't have a business to claim the loss for.
 
Moderate Right said:
You are distorting the facts. Losses can be carried forward on future returns. He paid zero federal income taxes for many years because he lost a lot of money at some point. If you don't like the tax code then work to change it. I bet if you looked at his overall records you would find that he paid infinitely more in federal income taxes than you will in your entire lifetime.
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You can't say that as a fact because we don't know.

Only one stolen return was published.

We don't know what happened other years.
 
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