Author Topic: Trump didn't pay income tax for 10 of 15 years before 2016 election: NYT  (Read 4753 times)

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Offline RedHead

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Re: Trump didn't pay income tax for 10 of 15 years before 2016 election: NYT
« Reply #175 on: September 29, 2020, 11:03:38 pm »
Joel Pollak
@joelpollak
·
29m
.@marklevinshow
 makes a good point re: Trump and taxes: Trump paid millions in the Alternative Minimum Tax (AMT) in seven recent years.

He paid the AMT in 7 of the last 18 years. 

Online bigheadfred

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Re: Trump didn't pay income tax for 10 of 15 years before 2016 election: NYT
« Reply #176 on: September 29, 2020, 11:05:09 pm »
Who did Trump out-debate?  This is not a format that is friendly to the President.

No shit? There isn't a media platform, in this country, that is friendly the the President.
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Offline Hoodat

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Re: Trump didn't pay income tax for 10 of 15 years before 2016 election: NYT
« Reply #177 on: September 30, 2020, 12:34:15 am »
A simplistic viewpoint.  If your revenue us up 3% following the tax cuts and your spending grows by 5% then you can say the tax cut did not contribute to the deficit if you want.  But if revenue would have grown at 5% or 8% or 10% without the tax cuts and your spending increased 5% then you could say that the tax cuts contributed to the deficit.

Let's consider then what actually happened.  From 2015 to 2017, federal income tax revenue fell.  From 2017 to 2019, it rose.  So your 'expectation' argument fails.  The expectation without the tax cut is that revenue would remain stagnant.  Yet with the tax cut, revenue rose.  So that proves the tax cut did not contribute to the deficit.  Instead, it kept the rise lower than it would have been without the tax cut.

Again, the reason for the rise in the deficit can be directly tied to the rise in spending.


Not sure it's that big of a lie.

At least you acknowledge it as a lie.  Moral relativism aside, a lie is a lie.  And it is a lie to insinuate that Trump's tax cuts led to higher deficits just as it is a lie to suggest a temporary cut in payroll taxes is directly tied to shortfalls in social security payouts.  Lies, lies, lies.  Typical DNC BS.
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Offline RedHead

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Re: Trump didn't pay income tax for 10 of 15 years before 2016 election: NYT
« Reply #178 on: September 30, 2020, 01:21:43 am »
Let's consider then what actually happened.  From 2015 to 2017, federal income tax revenue fell.  From 2017 to 2019, it rose.

Not according to this source.  Revenue rose between 2015 and 2017.

https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762

So your 'expectation' argument fails.  The expectation without the tax cut is that revenue would remain stagnant. Yet with the tax cut, revenue rose.  So that proves the tax cut did not contribute to the deficit.  Instead, it kept the rise lower than it would have been without the tax cut.

On the contrary, absent economic downturns revenue tends to rise year after year with or without tax cuts.  The unknown is whether revenue would have risen more with without the tax cuts than with. 


Again, the reason for the rise in the deficit can be directly tied to the rise in spending.

No argument there.  But reducing revenue is as much as fault as not controlling expenses.

At least you acknowledge it as a lie.  Moral relativism aside, a lie is a lie.  And it is a lie to insinuate that Trump's tax cuts led to higher deficits just as it is a lie to suggest a temporary cut in payroll taxes is directly tied to shortfalls in social security payouts.  Lies, lies, lies.  Typical DNC BS.

Temporary?  Perhaps not.  But in July when he announced his temporary suspension to payroll taxes he also said that his goal for a second term was to end payroll taxes entirely.  Which will leave a $1.4 trillion shortfall in revenues.

Offline Hoodat

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Re: Trump didn't pay income tax for 10 of 15 years before 2016 election: NYT
« Reply #179 on: September 30, 2020, 01:36:08 am »
Not according to this source.  Revenue rose between 2015 and 2017.

https://www.thebalance.com/current-u-s-federal-government-tax-revenue-3305762

Total tax revenue rose.  Income tax revenue fell.  We're discussing income taxes, remember?


On the contrary, absent economic downturns revenue tends to rise year after year with or without tax cuts.  The unknown is whether revenue would have risen more with without the tax cuts than with.

Again, federal income tax revenue fell between 2015 and 2017.  By your own argument, the expected revenue for 2018 and 2019 would have been similar to 2016 and 2017.  Yet in reality, it rose above expectation.  So again, the unexpected rise in revenue did not contribute to the deficit.


No argument there.  But reducing revenue is as much as fault as not controlling expenses.

Again, revenue increased, not decreased.  The problem is that spending increased even more.
If a political party does not have its foundation in the determination to advance a cause that is right and that is moral, then it is not a political party; it is merely a conspiracy to seize power.

-Dwight Eisenhower-


"The [U.S.] Constitution is a limitation on the government, not on private individuals ... it does not prescribe the conduct of private individuals, only the conduct of the government ... it is not a charter for government power, but a charter of the citizen's protection against the government."

-Ayn Rand-

Offline dancer

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Re: Trump didn't pay income tax for 10 of 15 years before 2016 election: NYT
« Reply #180 on: September 30, 2020, 07:33:42 am »
Reading the comments at various news outlets' Facebook and twitter feeds is hysterical. Somehow, people who live paycheck-to-paycheck - and never earned enough to worry about things like itemizing deductions - instantaneously became tax law experts, well versed in "loopholes," and they're convinced this is it!! This is what sends Trump to prison!  :silly:
We got him now!   :silly:

Offline Weird Tolkienish Figure

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Re: Trump didn't pay income tax for 10 of 15 years before 2016 election: NYT
« Reply #181 on: October 09, 2020, 12:43:02 am »
My single fear is that he will go into full attack mode and look like he is beating up on a tired old man, garnering a lot of sympathy for slo Joe.

Kinda what happened, no?  :shrug:

Offline verga

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Re: Trump didn't pay income tax for 10 of 15 years before 2016 election: NYT
« Reply #182 on: October 09, 2020, 12:50:00 am »
Kinda what happened, no?  :shrug:
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Offline aligncare

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Re: Trump didn't pay income tax for 10 of 15 years before 2016 election: NYT
« Reply #183 on: October 09, 2020, 12:55:07 am »
Kinda what happened, no?  :shrug:

Many people thought Joe had it coming and liked it when Trump let him have it. I wouldn’t worry about those ludicrous fake polls showing Biden immaculately winning the WH. There’s only one poll that counts. November 3. And America’s not ever going full on socialist.