Quote:
Originally Posted by Ducay
I guess I'll keep playing team Trump. Happy to be the punching bag here.
Taxes: He had a $1B loss, these losses carry forward. Just like you and I and everyone else does with their taxes. Somehow framing it the way the media and Dems are makes it a ghastly negative. Heck, even Clinton had losses on her returns she carried forward/back (the horror!).
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The problem is you don't know why he claimed that loss or what mechanism he used.
As a real estate developer he is able to take on and guarantee various debts personally even though he may never have actually put a dime of his own money in something. So is this a claimed loss based on other peoples money? In addition, at some point he should have to claim the revenue that offsets that loss. It's supposed to be a temporary thing and usually is. Except if, you know, say you are actually not solvent and then "poof" you never have to and instead just gave yourself a huge write off on the backs of your investors.
That's why it is important to know what he's done with his taxes and mechanisms he used. They indeed may be "legal" but legal and ethical are not the same thing. And that matters. It's also important because he is loudly proclaiming that he's sooooo smart that only he can fix these things yet NONE of his proposals address the real estate developer tax loopholes he is (likely) using. In fact his proposals from what I've read will give developers more leeway. He's in it for himself. Not for the country but for himself and his business.
He doesn't want to release the taxes because:
1) he isn't as rich as he says he is which is a massive public ego bashing and shows unequivically he is a massive liar and/or
2) he hasn't paid taxes in a very long time which on the surface doesn't reflect well on him and/or
3) when people find out how he doesn't pay taxes AND that his proposals wouldn't do anything but give him even more loopholes it's the end of campaign
My guess is it is #1 and #3 that he is worried about.