The Saga of Donald Trump and His Taxes

Folks it is no secret that Donald Trump lost a billion dollars in 1995, in fact; the news organization (The New York Times) that released Mr. Trump’s tax returns a couple of days ago lamenting that he paid no taxes, is the same News organization that wrote a glowing article on Mr. Trump’s ability to bounce back from such a colossal loss. The article extolled Mr. Trump’s resilience, and his ability to keep moving forward despite setbacks. Mr. Trump wrote a book about his losses, what he went through and what he had to do to come back from that adversity. His book was called “The Art of the Comeback”.At one time in America, stories like these were praised and held up as examples that demonstrated the never say die attitude of the American spirit. Today, thanks to the Democrat party and their propensity to play class warfare; people look askance at stories like this instead of celebrating it. They also forget that many successful people in the world, and in our history experienced tremendous failure (see the story of Abraham Lincoln) before making their mark in the world.

There is absolutely nothing wrong in doing what Mr. Trump did! He did what every American does when it is tax time. There is not one person who does not try to pay as little as possible when tax time comes around. People use all of the deductions available to them in order to decrease their tax burden, and to do anything less would be not just irresponsible, but it would be foolish. The man’s business suffered a net operating loss during that year, which means that his business deductions exceeded his business income. The deduction that he used is not a loophole for the rich and famous. This is a strategy that many business owners use to offset the burden of losses to their businesses, and assist in their recovery. When the business makes money the government gets its cut, when the business loses money; the law allows business owners to apply current losses against future income. It can be applied for up to eighteen years, depending on all of the circumstances. There is no virtue in paying more taxes than one owes, especially to a government that is twenty trillion dollars in debt. We have all the proof we need that the federal government is wasteful, often corrupt, they over spend and abuse taxpayers’ money. Who amongst us would pay one red cent to the government if we did not have to do it?  To anyone who is angry that “the rich are not paying their fair share,” think about it for a moment. Many people make claims for their children, they seek deductions for mortgages, tuition and other tax credits in an effort to pay as little in taxes as possible. In the end most people end up paying substantially lower tax rates at the end of each year as is often evidenced by the smiles on people’s faces when they see their tax return checks. Some people can make more claims on their tax returns than others, and as a result get back more than others, for instance; those with more dependent children get back more money. Single people who have no deductions or claims pay more in taxes. That is just the way that the system works. Business people can often make more deductions which allow them to pay a low rate. There is no magical formula to make everything equal unless there is a flat across the board tax that everyone pays.

There is nothing patriotic about paying more taxes than one owes. A man’s generosity is not determined by the amount of money he gives to the government. His civic responsibility is met when he gives to the government that which he owes. A person’s (rich or poor’s) money does not belong to the government to use as they please. It is not their money. If there are loopholes in the tax code that people exploit and the government thinks is unfair, then it is up to the congress to tackle the issue and make it into a more simplified system. The Democrats had a super majority where they could have passed any bill for two years, but did nothing about that.

The Clinton campaign of course wasted no time after the New York Times story was printed and pounced on what they saw as an opportunity to chastise Mr. Trump, and gain some momentum. They smugly used the “news” to pontificate about “the rigged system”. In a classic case of hypocrisy though, we then found out that Mrs. Clinton and her husband used the same tax law to offset an incurred loss on their Wall Street generated capital gains (not a business loss). In perhaps the most brazen yet curiously unaware (by the New York Times) twist of irony, we also found out that the New York Times paid no taxes in 2014 after generating a net profit of over three million dollars for their organization.

The Clinton foundation is a billion dollar organization that gives less than 10 percent of the money it receives to charity, but for some reason the New York Times does not see this as news worthy, it does not bother the New York Times that the foundation “misfiled” it’s taxes up to five years back. They had to refile the foundation’s taxes after an investigation revealed that it “misreported” tens of millions of dollars it had received from foreign governments, but the New York Times never saw that as a news worthy story. Such misrepresentation in filing taxes, were it committed by “Citizen Joe” filing his taxes would have invited the full wrath of the IRS, but not so for the Clintons.

It is no secret that Conservatives always get treated differently by the press, and liberal candidates are never ever held to the same standard, but the level of vitriol and targeting that is directed by the press at Mr. Trump, while simultaneously ignoring all of the scandals surrounding the liberal candidate Mrs. Clinton is unprecedented.

Kudos to Donald Trump for not releasing his taxes if that was a calculated decision on his part. He knows that whatever he does will not satisfy the liberal media. Mitt Romney’s candidacy is there as an example from which he can learn. Romney is one of the most decent men to ever run for office. The guy’s reputation is squeaky clean, but he had his name sullied, and was eviscerated in the press for paying “only” fourteen percent in taxes. According to Politico, together Romney and his wife gave over twenty nine percent of their money to charity, but even that was not enough for the liberal smear machine. It seems that Donald Trump has seen how the press treats the Republican candidate, and he has decided not to corporate with a crusade against himself. The New York times loved Mr. Trump’s comeback story a few years ago, but Mr. Trump has made the cardinal error of running for the Presidency as a Republican against “the anointed one,” Democrat candidate Hillary Clinton, and for that he must be stopped at all cost. In addition to all of that he is the first Republican candidate to fight back against attacks,smears and attempts to soil his name. To be absolutely clear, Mr. Trump is not the ideal candidate, there are many features of the way that he has run his campaign to dislike, but there is nothing in the man’s record that suggests he is a tax cheat.

 

See the links below for references

http://www.nytimes.com/1995/10/25/nyregion/crowning-the-comeback-king.html

http://freebeacon.com/politics/report-96-percent-clintons-charity-donations-went-family-foundation/

http://www.washingtonpost.com/wp-dyn/content/story/2008/04/05/ST2008040502593.html

http://nypost.com/2015/04/26/charity-watchdog-clinton-foundation-a-slush-fund/

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