US Politics in Trump era Public date: 14.11.2019 12:15:01

Publisher: Fortune

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9 May 2019

Trump Used the Same Tax Breaks as Amazon to Drastically Reduce His Own IRS Bill

President Donald Trump complains that large corporations, such as Amazon.com Inc., are shirking their tax responsibilities. Yet for at least a decade, Trump paid none or very little in federal income taxes by exploiting some of the same generous tax breaks that the online retail giant and others have used to reduce IRS bills.
President Donald Trump complains that large corporations, such as Amazon.com Inc., are shirking their tax...

Publisher: NYTimes

Author:

8 May 2019

Decade in the Red: Trump Tax Figures Show Over $1 Billion in Business Losses

Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks triumphantly overcome. He has attributed his first run of reversals and bankruptcies to the recession that took hold in 1990. But 10 years of tax information obtained by The New York Times paints a different, and far bleaker, picture of his deal-making abilities and financial condition.
Mr. Trump was propelled to the presidency, in part, by a self-spun narrative of business success and of setbacks...

Publisher: NYTimes

Author:

12 May 2018

Federal Tax Cuts Leave States in a Bind

The Tax Cuts and Jobs Act, which President Trump signed into law in December, did not directly affect state budgets. It cut federal tax rates, but also made other changes that mean more income will be subject to taxation. Because most states use federal definitions of income and have not adjusted their own rates, the federal changes will have big consequences for both state budgets and taxpayers.
The Tax Cuts and Jobs Act, which President Trump signed into law in December, did not directly...
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12 May 2017

The Senate Starts to Look at Trump’s Businesses

Adam Davidson writes that a Senate panel’s request for information from a Treasury enforcement unit suggests a broader scope to its investigation. The FinCEN request is particularly interesting because the unit enforces money-laundering laws and is familiar with Donald Trump’s holdings, specifically the Taj Mahal casino, in Atlantic City. Trump opened the Taj Mahal in 1990. He sold half of his shares in 2004, as part of a bankruptcy settlement, but remained a minority owner. In 2015, the Taj Mahal admitted to “willfully” violating the law by letting many suspicious transactions go unreported to the authorities, and agreed to pay a ten-million-dollar fine—one of the largest ever for a casino.
Adam Davidson writes that a Senate panel’s request for information from a Treasury enforcement unit suggests a broader...

Publisher: The Hill

Author:

15 Feb 2017

House panel votes against requesting Trump’s tax returns

The House Ways and Means Committee on Tuesday rejected a Democratic push to ask for President Trump's tax returns. The amendment, offered by Rep. Lloyd Doggett (D-Texas) to the panel's oversight plan, was voted down on a party-line vote.
The House Ways and Means Committee on Tuesday rejected a Democratic push to ask for President Trump's tax returns. The...

Publisher: Vox

Author:

1 Feb 2017

After meeting with pharma lobbyists, Trump drops promise to negotiate drug prices

A lot happened in the 2016 campaign, but one of the things Donald Trump did to win the election was shift to the left on a number of key issues — promising to avoid cuts in Social Security and Medicare benefits and adopting a longstanding Democratic pledge to let Medicare negotiate bulk discounts in the price it pays for prescription drugs.
A lot happened in the 2016 campaign, but one of the things Donald Trump did to win the election was shift to...

Publisher: NYTimes

Author:

24 Jan 2017

Federal Debt Projected to Grow by Nearly $10 Trillion Over Next Decade

After seven years of fitful declines, the federal budget  deficit is projected to begin swelling again, adding nearly $10 trillion to the federal debt over the next 10 years, according to projections from the nonpartisan Congressional Budget Office that reveal the strain that government debt will have on the economy as  President Trump embarks on plans to slash taxes and ramp up spending.
After seven years of fitful declines, the federal budget  deficit is projected to begin swelling again, adding...

Publisher: NYTimes

Author:

1 Dec 2016

Why the Trump Team’s Economic Promises Will Be Hard to Execute

Basically what is being promised by the Trump team doesn't match the plan unveiled in September. Economist are not clear of the effects. They claim that cutting corporate taxes will bring back jobs but experts can not reach the same conclusion when they run the numbers
Basically what is being promised by the Trump team doesn't match the plan unveiled in September. Economist are not clear...
5 Oct 2016

To Those Defending Trump’s Tax Evasion Because it ‘Was Legal’: You’re Missing the Damn Point

For example, in this country it’s perfectly legal to be an adulterous Grand Wizard of the KKK  who hunts animals just for fun while believing that a woman’s place is  barefoot and pregnant in the kitchen — but that doesn’t mean you’re not a  bottom-feeding, deplorable pile of garbage.
For example, in this country it’s perfectly legal to be an adulterous Grand Wizard of the KKK  who hunts animals...

Publisher: Vox

Author:

3 Oct 2016

Whatever is actually in Trump’s tax returns is worse than what the New York Times says

Trump is making clear that whatever is really in his tax returns would be devastating to his campaign. NYTimes took a gamble speculating on Donald's returns. All Donald had to do was release his returns and prove NYTimes wrong. He hasn't!
Trump is making clear that whatever is really in his tax returns would be devastating to his campaign. NYTimes took a...
2 Oct 2016

Trump Tax Records Obtained by The Times Reveal He Could Have Avoided Paying Taxes for Nearly Two Decades

The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.Tax experts hired by The Times to analyze Mr. Trump’s 1995 records said tax rules that are especially advantageous to wealthy filers would have allowed Mr. Trump to use his $916 million loss to cancel out an  equivalent amount of taxable income over an 18-year period.
The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican...
10 Aug 2016

Small Businesses and Their Income Tax Burden | Tax Foundation

Great information on small business tax burden. The characterize these businesses as pass-through businesses because their profit passes through the business directly. Article suggests that when these businesses grow they are hit hard
Great information on small business tax burden. The characterize these businesses as pass-through businesses because...
26 Jul 2016

What America’s 25 Most Profitable Companies Pay In Taxes

Taxes, fees, tarrifs, tolls, levies, bribes, tithes, tributes. Whatever we called them, taxes have been an unfortunate reality of life ever since the biggest monkey decided he wanted a piece of the smaller monkeys’ lunch. From that earliest protection racket, taxes have only gotten more codified and
Taxes, fees, tarrifs, tolls, levies, bribes, tithes, tributes. Whatever we called them, taxes have been an unfortunate...
10 Feb 2015

Some Pass-Through Businesses are Significant Employers

In the United States, most businesses are not C corporations. 95 percent of businesses are what are called pass-through businesses. These businesses are called pass-throughs because their income is passed directly to their owners, who then need to pay individual income taxes on it. Contrast this with C corporations that need to pay the corporate income tax on its income before it passes its earnings to its owners. Combined, pass-through businesses employ 55 percent of all private-sector workers and pay nearly 40 percent of all private-sector payroll.
In the United States, most businesses are not C corporations. 95 percent of businesses are what are called pass-through...

Publisher: Forbes

Author:

17 Oct 2014

Pros And Cons Of The Federal Estate Tax

Some good arguments in support for estate tax going all the way back to Teddy Roosevelt thought that estate tax was a good method of taxation for creating revenue and equality. The opponents argue that this is money that has been taxed before and hurts business!
Some good arguments in support for estate tax going all the way back to Teddy Roosevelt thought that estate tax was a...
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