Trump stole $100 million from taxpayers

[IGotWorms 3,410]

But he’s watching out for the little guy!  

 

CNN — 

Former President Donald Trump could owe more than $100 million in taxes as a result of a yearslong Internal Revenue Service inquiry into claims of huge losses on his Chicago skyscraper, The New York Times and ProPublica reported Saturday.

The news organizations reported Trump claimed massive financial losses twice — first on his 2008 tax return, when he said the building, then mired in debt, was “worthless,” and again after 2010, when he had shifted its ownership into a new partnership also controlled by Trump.

The 2008 claim resulted in Trump reporting losses as high as $651 million for the year, and there is no indication it drew an IRS challenge, the outlets reported. Then, Trump’s lawyers enabled further claims of losses in 2010 by shifting the Chicago tower into another partnership, “DJT Holdings LLC,” The Times and ProPublica reported.

In the years that followed, other Trump businesses, including golf courses, would be shifted into that same partnership — which his lawyers used as the basis to claim more tax-reducing losses from the Chicago tower. That move sparked the IRS inquiry. Those losses added up to $168 million over the next decade, the report said.

The outlets calculated the revision sought by the IRS could result in a tax bill of more than $100 million.

The only public mention of the IRS audit into Trump’s Chicago tower loss claims came in a December 2022 congressional report that The Times and ProPublica reported made an unexplained reference to the section of tax law at issue in the case. That mention, the outlets reported, confirmed the audit was still underway.

 

 

https://www.cnn.com/2024/05/11/politics/donald-trump-taxes-irs-report/index.html

[weepaws 2,503]

Government has been stealing from taxpayers for ever, yawn.  

[Cdub100 3,443]

Taxation is theft.

[IGotWorms 3,410]

1 minute ago, Cdub100 said:

Taxation is theft.

And yet, you have to pay your taxes.

Meanwhile, this rich assh0le billionaire doesn’t pay his.

But he’s your champion!

[Cdub100 3,443]

4 minutes ago, IGotWorms said:

And yet, you have to pay your taxes.

Meanwhile, this rich assh0le billionaire doesn’t pay his.

But he’s your champion!

I do everything I can to pay as little as I have to. If I had the same tools as he does I'd do the same.

Besides it was proven Trump pays a higher effective tax rate than Hitlery and socialist Sanders and most of the rest of government officials. 

So yeah champion away... 

[EternalShinyAndChrome 2,673]

CNN!!! 

If you have to use CNN, you've already lost the argument.

[wiffleball 4,667]

Time to sell a bunch of slack jawed morons a brand new load of Trump NFTs.

[MDC 5,948]

Paying taxes is for the suckers who vote for these creeps, not the people who run for office.

[thegeneral 1,518]

42 minutes ago, Cdub100 said:

Taxation is theft.

Please stay off public roads. TIA

[Cdub100 3,443]

2 minutes ago, thegeneral said:

Please stay off public roads. TIA

Turn road control over to a company and we can pay tolls to use them. Fine by me. I live in Michigan our roads are trash with tax payer money. 

[thegeneral 1,518]

3 minutes ago, Cdub100 said:

Turn road control over to a company and we can pay tolls to use them. Fine by me. I live in Michigan our roads are trash with tax payer money. 

Well until that occurs pay your taxes.

[Cdub100 3,443]

Just now, thegeneral said:

Will until that occurs pay your taxes.

I pay what I'm required to pay, no more. 

Keep licking that boot.

[thegeneral 1,518]

1 minute ago, Cdub100 said:

I pay what I'm required to pay, no more. 

Keep licking that boot.

Well then you are doing your part. People that don’t are scumbag freeloaders.

[Hardcore troubadour 12,906]

Just catching up to him now I guess. It was cool back then though. He was making the right donations to our paid for politicians. 

[thegeneral 1,518]

5 minutes ago, Hardcore troubadour said:

Just catching up to him now I guess. It was cool back then though. He was making the right donations to our paid for politicians. 

Wasn’t he telling us he was under audit for like the last decade?

[Patented Phil 849]

Witch hunt.

Not working.

[Tree of Knowledge 904]

So this will be the next plan to get Trump!!!

[BeenHereBefore 1,357]

58 minutes ago, wiffleball said:

Time to sell a bunch of slack jawed morons a brand new load of Trump NFTs.

Trump needs to come out with his version of the Foreman Grill.

[thegeneral 1,518]

5 minutes ago, BeenHereBefore said:

Trump needs to come out with his version of the Foreman Grill.

Only cooks steak well done and has a ketchup dispenser.

[Engorgeous George 1,257]

I am entirely ignorant about tax law but I thought there was a statute of limitations, something like the tax year in question and then three years from filing for that tax year.  Maybe somebody with some actual knowledge can let me know if there is a statute of limitations, and if it is tolled once an investigaton is started and the taxpayer is notified.

 

Also, is there yet another rotund African American lawyer working for the government who can pursue this matter?  

[EternalShinyAndChrome 2,673]

Trump stole $100 million because CNN told me so!   

Also CNN: Trump is a Russian Agent!

Also CNN: Hookers peed on Trump!

Also CNN. Nicolas Sandman attacked Indian Protestors!

Also CNN: Mostly Peaceful Protests!

Also CNN: Hillary Did Nothing Wrong!

Also CNN: Hillary is a LOCK!

[Engorgeous George 1,257]

4 minutes ago, EternalShinyAndChrome said:

Trump stole $100 million because CNN told me so!   

Also CNN: Trump is a Russian Agent!

Also CNN: Trump pees on Hookers!

Also CNN. Nicolas Sandman attacked Indian Protestors!

Also CNN: Mostly Peaceful Protests!

I thought the hookers were said to pee on Trump.  Apparently I did not follow along as diligently as I might have.  I may have conflated facts from Trump, Hunter, Bill Cosby and Weinstein.  Its all a jumble in my head.  Or maybe it was Charlie Sheen and his tiger's blood.

[EternalShinyAndChrome 2,673]

1 minute ago, Engorgeous George said:

I thought the hookers were said to pee on Trump.  Apparently I did not follow along as diligently as I might have.  I may have conflated facts from Trump, Hunter, Bill Cosby and Weinstein.  Its all a jumble in my head.  Or maybe it was Charlie Sheen and his tiger's blood.

You're right.  got that backwards!  Doesn't really matter though, Worms will believe anything he's told.

[weepaws 2,503]

3 hours ago, weepaws said:

Government has been stealing from taxpayers for ever, yawn.  

They all do it, trump, Biden , all government does is steal.  Soon they will be stealing your endorsement when you vote for this crap.  

[MDC 5,948]

10 minutes ago, Engorgeous George said:

I may have conflated facts from Trump, Hunter, Bill Cosby and Weinstein. 

Understandable since they’re all rapists.

[thegeneral 1,518]

17 minutes ago, Engorgeous George said:

I am entirely ignorant about tax law but I thought there was a statute of limitations, something like the tax year in question and then three years from filing for that tax year.  Maybe somebody with some actual knowledge can let me know if there is a statute of limitations, and if it is tolled once an investigaton is started and the taxpayer is notified.

 

Also, is there yet another rotund African American lawyer working for the government who can pursue this matter?  

No clue but the first paragraph says this has been a “yearslong” audit battle so it seems this has been ongoing.

[Hardcore troubadour 12,906]

The two candidates are certainly lacking in the morals department.   But please, when making your comparisons, keep in mind that Joe Biden molested his daughter. Kind of puts tax issues in perspective.  Biden also thinks mutilating children should be the law of the land and funded by the tax payer. Also co-Ed showers. 

[Mike Honcho 4,106]

I don't think this is really a new story, maybe just new details.  I think this is all part of the 'I can't release my taxes because I'm under audit' thing.  I believe others have reported on this, he's been fighting this tax bill for years and years. Honestly, 100M seems low, I thought with penalties it would be lot higher---though maybe that gets frozen once the dispute starts---I don't know, I was only penalized once and it was just for 2 years prior...

[MDC 5,948]

MAGAs now sticking it to the man by arguing that billionaires shouldn’t have to pay their tax burden.

How them boots tasting?  

[bostonlager 2,497]

Good strategy. It’s reaching out to black voters that also like stealing sh1t. 

[Maximum Overkill 777]

4 hours ago, IGotWorms said:

could owe

"COULD OWE"  

Context is everything, CNN  

[easilyscan 570]

Social Security

In 1938, A Treasury Department Tax Ruling stated that SS benefits will be explicitly excluded from federal income taxation. 

 

In 1982, this happened.

You will pay federal income taxes on your benefits if your combined income (50% of your benefit amount plus any other earned income) exceeds $25,000/year filing individually or $32,000/year filing jointly. You can pay the IRS directly or have taxes withheld from your payment.

The developmentally disabled dip **** currently residing at 1600 Pennsylvania Avenue NW, Washington, DC voted in favor.

 

10 years later, in 1992, this happened.

With combined income above $34,000 (single) or above $44,000 (joint filing), up to 85% of benefits can be taxed.

Congress approved this in 1992 & that same POS voted in favor.

The fact that they went against the earlier treasury department ruling regarding taxation, is bad enough, the fact they never raised those income levels to adjust for inflation is unforgivable.

 

I haven't been able to find a $ figure regarding how much this costs SS recipients in the form of lower payments every year, but I'd be willing to bet it's far more than 100 million.

To put that in perspective. Biden believes singles making up to 125K, & couples up to 250K, with student loan debt, deserve a huge tax break/loan forgiveness, but a retired couple with income over $44,000 should pay taxes on up to 85% of their SS benefits. The moral of the story, they're all parasites in their own way.

[Hardcore troubadour 12,906]

Great post  When you look at Bidens body of work he has hurt working people, not helped them.  He was the banks senator.  They owned him.  

[HellToupee 756]

 

[wiffleball 4,667]

2 hours ago, Engorgeous George said:

I am entirely ignorant about tax law but I thought there was a statute of limitations, something like the tax year in question and then three years from filing for that tax year.  Maybe somebody with some actual knowledge can let me know if there is a statute of limitations, and if it is tolled once an investigaton is started and the taxpayer is notified.

 

Also, is there yet another rotund African American lawyer working for the government who can pursue this matter?  

Generally, if you don't file any tax forms at all, the SOL doesn't start running. 

Alternatively, if there is evidence of intent to defraud through filing, generally SOL won't save your butt. 

 

 

[IGotWorms 3,410]

6 hours ago, thegeneral said:

Wasn’t he telling us he was under audit for like the last decade?

But now it’s a new witch hunt!!

[IGotWorms 3,410]

3 hours ago, Mike Honcho said:

I don't think this is really a new story, maybe just new details.  I think this is all part of the 'I can't release my taxes because I'm under audit' thing.  I believe others have reported on this, he's been fighting this tax bill for years and years. Honestly, 100M seems low, I thought with penalties it would be lot higher---though maybe that gets frozen once the dispute starts---I don't know, I was only penalized once and it was just for 2 years prior...

They said it doesn’t include penalties. Those compound so god only knows what the real number is

[Hardcore troubadour 12,906]

If they can go back to 2008 to look into Trump for taxes, why can’t they go back to look into Biden for molesting his daughter? It’s not like their isn’t any evidence. The victim has given an account of the actions. 

[Strike 4,077]

Hunter Bidens tax crimes expired due to SOL  His are less than 10 years old and clear cut but by all means go after Trump for 15 year old gray area stuff corporations take advantage of routinely.  Seems fair.

[IGotWorms 3,410]

40 minutes ago, Hardcore troubadour said:

If they can go back to 2008 to look into Trump for taxes, why can’t they go back to look into Biden for molesting his daughter? It’s not like their isn’t any evidence. The victim has given an account of the actions. 

This isn’t a great play for you when your guy was best buds with that pedophile Epstein and wanted to fock his own daughter when she was a young girl. To say nothing of this miss teen USA creep show and all that other stuff.

Trump is a focking sicko and a tax cheat