Giuliani refers to Trump “Economic
Genius" and Clinton as a Woman”
Introduction to really fine and simple-to-understand article
and explanation of the
$916 million tax write-off that Donald J. Trump is proud of and boasted about
in the first debate. Even some of his supporters call him a genius for the
loophole and “beating the IRS.” Read the article and see if you in any part
agree with Trump and/or his avid supporters who praise him for that massive
loss – I damn sure do not consider that heroic in any sense. Extracts from that
Washington Post piece:
Despite what Donald Trump
says, we really can learn a lot from his tax returns
(Washington Post link) — even from
the partial ones made public by The New York Times
(NY Times link).
The major takeaway from the
three pages of Trump’s 1995 returns that the Times made public is that Trump is
right when he says the system is rigged. What he doesn’t say is that it’s
rigged in his favor and in the favor of people like him — and against regular
people, those of us who earn money, pay income tax on it, and financially
support the country in which we live.
A main part referenced in the main article comes from here.
“I’m as offended by Hillary and Bill
Clinton’s buck-raking practices as I am by Trump’s boast about not having paid
income tax. The Clintons have knocked down tens of millions in fees and other
income since Bill Clinton left office by exploiting the aura of his presidency.
It’s repellant. But despite their greed and
money-grubbing cluelessness — did Hillary Clinton really need the $675,000 of
Wall Street speech fees that she gobbled down during the brief interval between
leaving the State Department and beginning her presidential run (?) — [I
insert: No, rather]… the Clintons are showing that they’re smart when it comes
to proposing tax policy. How so?”
“Because the tax increases that Hillary
Clinton is proposing on high-income people would cost her family money. So
would the changes that she’s proposing in the estate tax. So when it comes to
taxes, Clinton is showing that she knows how to sacrifice and lead by example.”
“Trump is showing that he knows how to
take care of himself at the expense of the rest of us. And that’s the bottom
line.”
Heart of the article from my perspective and read: “Sure, the $900
million-plus of losses reported by the New York Times — losses that could be
used to offset income for a total of 18 years — are totally shocking. Legal,
yes. But shocking. But there’s something I consider even more shocking —
although it involves a much smaller number. By my read of the Trump tax return
published by the New York Times, he would have been tax-free because of a
$15,818,562 loss reported on Line 11 of the return under “Rental real estate,
royalties, partnerships, S corporations, trusts, etc. It looks to me that this
loss reflects the outrageous, special tax break that real estate developers
that people like Trump can get, but that the rest of us can’t.”
I summarize like the article
does, too – Trump remains arrogant, aloof, out of touch and self-promoting –
with this simple premise:
If Trump were truly smart — and wanted to lead by
example — he would have disclosed his tax returns, showed the
loopholes he used, and vowed to close them. He did none of that.
I further conclude: He can’t do things like that – be open and honest – it’s not in is DNA
or in his fiber as a valued principle. He is not a true leader for the country –
maybe for company and money-making schemes and family. But, not for the
country.
Hope this helps you to
understand the man and his self-serving goals – not for the country but for the
Trump logo and name.
Thanks for stopping by.
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