New York Times Fails at Outlining President Trump’s Taxes Again…

Once again the New York Times attempts to make an issue out of President Trump’s real estate holdings working as a tax shelter and reducing income taxes.

In the article the Times completely obfuscates the way income taxes are strategically offset by depreciation, mortgage interest and the entire reason why real estate ownership is viewed as a business.

John Carney writing for Breitbart gets it:

[…] So imagine our guy took out an $8 million mortgage at five percent, paying $2 million cash. Now he’s got to pay $400,000 in mortgage payments. He wants to make at least that much so he charges tenants an aggregate of $425,000, which after upkeep comes out to $410,000 of net income. (Remember, if the bank didn’t think he could make more in rent than the mortgage payment, it probably wouldn’t have lent him the money.) The interest payment on the loan–let’s call it $390,000–is deductible from his income, leaving him with $20,000 in net income. He gets to keep that and pay no taxes on it, however, because he still gets to apply the $370,000 depreciation charge. He tells the IRS he lost $350,000.

Under our tax code, ordinary business expenses can be deducted in the year they are incurred. But when a business pays for a long-lasting item expected to produce income–like machinery, vehicles, or an apartment building–it is considered a capital investment. Instead of getting to write-off the cost all at once, the business is required to write it off over the course of decades. After the 1986 tax code, this was set at 27.5 years for residential real estate. (more)

Anyone who has ever operated a business knows that offsetting income is one of the primary reasons to be self-employed.  Additionally, the Times completely skips over the tens-of-millions in payroll taxes paid by the Trump organization and tens-of-millions in property and sales taxes paid by all of the various Trump properties.

In the commercial real estate market it is common sense to offset income tax liabilities with a host of valid annual expenses, long-term capital depreciation and mortgage interest payments. With over 500 individual business entities within the Trump organization the ability to offset income in one asset with expenses in another is simply good accounting.

Additionally, President Trump donates his $400,000 government salary back to the U.S. government.  So to accuse President Trump of only paying $750 in income taxes totally ignores all of the other donations and tax payments he makes.

In practical terms no President before Trump has ever had his actual business portfolio so deeply connected to the success of the American economy.   It doesn’t cost the American taxpayer a dime to have President Trump in office…. Now let’s figure out how DC politicians making $200k/yr are able to become multi-millionaires while holding office.

Anyone?

This entry was posted in Big Government, Big Stupid Government, Donald Trump, Election 2020, Joe Biden, media bias, Professional Idiots, propaganda, Taxes, Uncategorized, USA. Bookmark the permalink.

279 Responses to New York Times Fails at Outlining President Trump’s Taxes Again…

  1. anthohmy says:

    While the squad was all dipping into campaign funds for wages/ salaries, Donald Trump obviously campaigned hard for free.

    Liked by 17 people

  2. How? Bribery! Full Stop!

    Liked by 3 people

    • Dee Paul Deje says:

      Bribery, kickbacks, insider trading, campaign slush funds, foundations (ahem), money laundering through “book deals”, extortion, blackmail, quid pro quo (“well son-of-a-b!tch, he got fired).

      Liked by 4 people

  3. I said back in August that the October surprise would include Trump’s Tax returns.

    Liked by 6 people

  4. Carrie says:

    I just hope they have a line on who did the leaking- and they punished swiftly and publicly. I’m so tired of the leaks. It goes without saying that Wray won’t do a thing (other than look under his bed for white supremacists…)

    Liked by 13 people

  5. hocuspocus13 says:

    Foreign 🖤 Favors

    Liked by 1 person

  6. Skeeball says:

    Has it actually been proven that the NYT has his taxes and is not just making the whole thing up? If they did get his taxes, they were obviously obtained illegally and whoever leaked them should be facing some kind of penalty.

    In the end, it will change very little since Democrats helped to write the tax code and Trump supporters know the NYT is an anti-Trump, fake news organization.

    Liked by 12 people

    • Linda K. says:

      If Trump had low taxes it is only because he had lots of deductions. Every wealthy person knows the game.

      Liked by 8 people

      • mr.piddles says:

        My father, the plumber, had a friend back in the day… a very successful businessman… owned a paper company, and I think a lightbulb factory, can’t remember. During a discussion on income tax or write-offs or whatnot, his friend told him : “John, I don’t pay taxes. You pay taxes.”

        Liked by 3 people

        • Kroesus says:

          The point he was probably making is businesses do not pay taxes, their customers do, It is a common liberal tactic to get support for higher business tax from the gullible thinking they are socking it to the “rich” who are then surprised when the price for that good or service goes UP. Can we say DUUUUUUH?

          Liked by 2 people

          • dilonsfo says:

            Businesses pay plenty of taxes…payroll, social security, etc. The pay taxes on the products they buy and sell. Those are all deductible for the business as a whole. When you have a good year you buy so that what you buy is deductible over the long term so rather than pay the government you grow your business.

            Liked by 1 person

        • Pale rider says:

          And that used to be a hint for the rest of us now, it’s shunned by the zombie public. Make up your mind antifa, BLM, msm, are we for taxes or not, Cause I’m not.

          Like

    • mr.piddles says:

      Personally, I think the prospect of his taxes NOT being leaked quite a while ago… like a couple years ago, if not more… is pretty slim. Remember the Treasury employee running around with a thumb drive full of Suspicious Activity Reports on Manafort and other confidential stuff? Oh yeah… you can multiply that Deep State winner by like 10,000.

      I think that’s why the House has been desperately trying to get their hands on his returns… ‘cuz they already have them.

      Hey, for all we know the leaker is on Schiff’s staff. Would you be surprised?

      Liked by 7 people

      • jebg46 says:

        Or the leaker is from the New York AG’s office because they sued and won for his tax records, although it will be appealed but they probably already have them illegally.

        Liked by 1 person

        • The Boss says:

          I think you’re right about NYC prosecutors having illegal copies of President Trump’s returns. That’s why they sued to get copies. It cleans up the evidence.

          Like

      • upstate909 says:

        Mr Piddles, I agree. I think they have had them from when O was in office. Maybe not the recent ones: but they have tried every tool in the constitutional and statutory law tool box to expose them legally. Now they have run out of time.

        The mistakes will be glaring, and laughable at this point. My guess is leaker is Comey’s daughter SDNY. But who knows. Stranger than fiction.

        Like

  7. I think (from reading here) that there are at least 2 ways that the criminals in congress enrich themselves. 1) Foreign aid. They “grant” billions in foreign aid and in return hundreds of millions wind up as contributions to their “foundations”. Of course, they are paying themselves and their family members from the foundation money. 2) Stock market. I have no doubt that they use the nuggets of information that they are priviledged to know with stock trades that make them millions. They deny this but does anyone believe them?

    That’s 2 options. Anyone else?

    Liked by 12 people

  8. FPCHmom says:

    Liked by 9 people

    • Christine says:

      But, but, Young Turks says Trump is broke!

      Like

    • Pale rider says:

      It’s fake news because President Trump gives it to them, good point.
      Trump writes out the talking points, crumples them, up throws them away in plain sight of the media and whalah they appear as press questions. Except, he has the answers and they all make him look like a saint. Hate does that.
      Imagine if the press ever figured that out and actually reported the truth. Not only would they be filthy rich but they would realize they could benefit probably more by him than the republicans have. Silly wabbit. Or is it “beep beep” swooosh!

      Liked by 3 people

      • Kay123 says:

        Yes…. and the book deals ( two books sold) $$$$$$$$
        supposedly 2 million….

        Another fake money laundering scheme ….”speeches” at colleges
        $$$$$$$$$ to organize and teach young gullible minds the “fine art of
        marxist, commie terrorizing”, looting, burning and extortion.

        Liked by 1 person

  9. icthematrix says:

    Leftist scum Dims and their propaganda press always use broad smears to obscure complex facts.

    “Rich man pays nearly nothing…UNFAIR 😡”.

    In fact, rich man’s companies paid millions in a variety of taxes…but their lemming readers or viewers won’t invest 30 seconds into research.

    Liked by 7 people

  10. Pew-Anon says:

    And, of course, never mind that whoever leaked to the NYT committed a federal felony.

    Liked by 10 people

  11. Well, PDJT’s tax returns have been broached – again. Isn’t it about time for Melania and Barron to be attacked? Or does that happen after PDJT’s other children are accused of wrong doing…..probably breathing fresh air or something like that.

    Liked by 4 people

  12. majorriddle says:

    I would guess somebody at the NY Tax and Finance Dept was ordered by Cuomo to leak the state returns.

    Liked by 6 people

  13. FPCHmom says:

    Liked by 10 people

  14. Do stop thinking about tomorrow says:

    Be prepared for the greatest nose plant by NYT over these leaked returns. Funny how now they have them just in time for Obiden on Tuesday to use them.

    PDJT will rip into Obiden like a buzz saw. He probably leaked them himself to set Obiden up for the kill. Obiden knows nothing about business and how it works.

    Obiden will have to explain his vast fortune.

    Well playered Mr President well played.

    Liked by 12 people

  15. borwarrior says:

    If this is their October surprise, they are in big trouble!

    At least understand fundamental tax law before you attempt a hit piece like this.

    What a pathetic rag!

    Like

  16. Jason Ross says:

    Think of all the people that were swayed into voting for POTUS/not voting for POTUS based upon this NYT hit piece!!!!!!!!!1

    Liked by 3 people

  17. These ass clowns will never learn. You can’t stump our President Trump!

    Liked by 6 people

  18. Leon Brozyna says:

    Dear NY Times …

    That horse is dead.

    Mr. Trump is rich and he didn’t get that way by milking the taxpayers like so many politicians (and their families) do.

    Heck, he works for free. Will Nancy Pelosi do the same?

    Liked by 14 people

    • Kroesus says:

      Piglosi and “Frankenstein” both used government funding to their husbands to enrich the joint financial statements of their marriage. I am sure there are many others as well but those two were in the national news about their arrangements.

      Liked by 2 people

  19. FPCHmom says:

    Liked by 6 people

  20. freepetta says:

    Don’t call it the NY Slimes for nothing. The Slimes makes excellent cat 🐱 litter box liner.💁🏻‍♀️

    Liked by 1 person

  21. Mike says:

    The focus is on income taxes misses the huge amount of taxes that Trump pays. Property taxes, sales taxes, payroll taxes for his employees, state and local taxes, etc. are in the tens of millions if not more. Just imagine the property taxes paid on Trump Tower alone. Trump should knock this out of the park at the debate.

    Liked by 6 people

  22. Why NYT is fake news: From IRS 2016 tax table, no way can anyone pay $750 tax:

    Click to access 2016-federal-tax-tables.pdf

    Liked by 1 person

  23. thedoc00 says:

    Besides businesses working to reduced tax liability, if anybody who owns tax deferred (retirement) savings instruments, pays even the slightest attention to their holdings and opens an on-line account with the financial institution(s) holding the funds, there are; webinars, classes, papers, articles et al offered by the financial institution(s) on recommended ways to “reduce tax liability”.

    Once again a form of two tiered justice being applied.

    Heck, I keep a running Form 1040, on my free Turbo tax account, throughout the entire tax year to look at options to reduce tax liability.

    Like

  24. hocuspocus13 says:

    FYI
    🍁
    Project Veritas Video out
    🍁
    Ballot Harvesting

    Liked by 4 people

  25. fangdog says:

    What is seldom said are all the taxes Trump indirectly pays. Every time Trump hires someone they in turn pay taxes on their income. Every time Trump purchases something, consider all the income taxes paid by the people who made what Trump purchased. It really becomes exponential.

    It is one of the advantages of Capitalism. It is the people who make it all work. There is no way for people to ever have anything under Communism. Under Communism the people are but mere slaves of the State. There is no incentive therefor no motivation. Therefore, eventually it all fails. The only reason Communist China has prevailed as long as they have is because of the USA. And of course at a huge loss to the American People.

    Liked by 2 people

    • Kroesus says:

      Every time Trump Inc hires a person they pay 7.65% FICA/Medicare as well. Think of all the economic activity one employed person helps to create called the multiplier effect and consider all the taxes on that as well.

      Liked by 1 person

  26. cherokeepeople says:

    and with the scamdemic this year and all his properties pretty much shut down,he is gonna have some major losses this year.and more then likely those properties will drop in value.man a hefty tax refund would really make the dems scream.

    Liked by 2 people

    • hocuspocus13 says:

      According to what I read…

      The Trump audit is about a tax refund Trump received in 2010 because President Obama changed the tax laws

      Trump received $72 million + refund based on his business losses and the new Obama tax laws

      Liked by 2 people

  27. The Gipper Lives says:

    In addition to the billions in business the President has foregone just to serve, and the $399,000.00 yearly he voluntarily contributes to the Treasury, the President is also paying a Cuomo/di Blasio New York Shithole Tax. They scribble Black Supremacist bumper sticker slogans on his street and make New York unlivable for all except parasites, empowered criminals, the mentally-ill and Democrats–but I repeat myself–while New York property owners see their assets melt away in Weimar New York.

    Liked by 5 people

  28. Dee Paul Deje says:

    VSGPDJT is a real estate genius because he lives rent-free inside the Democrats and the MSM’s heads.

    Liked by 3 people

  29. Kay123 says:

    What is not foreseen is the cost of $$$$$$ maintenance, taxes,
    lousy tenants clean ups, haul-aways, insurances, snow removal,
    sewage, drainage problems per unit…..rebuild the place…..and
    repairs somtimes cost as much as the yearly rent, sometimes
    leaving one with $13 profit for the year.
    Yeah…. been there done that. The rehab $$$$$$ is unbelievable.
    Not all things that glitter are gold.

    Liked by 2 people

  30. Please pray for Brad and his wife, just read this breaking news on the Sun Sentinel;

    Former Trump campaign manager Brad Parscale hospitalized after he was armed and threatening to harm himself, Fort Lauderdale police say

    Liked by 6 people

  31. bowljoman says:

    I thought the headlines were that there was no russian financial ties. lol

    Like

  32. FreedomNinja says:

    I don’t care if the guy paid $1 each year in federal income taxes. If he did it legally, knows how to use credits, deductions and loopholes the right way, then where’s the problem? Just shows he’s a hell of a lot smarter than the those who envy him and call him names. This is the kind of guy who could be our president one day? Maybe help make our economy the best ever? Oh wait…

    Liked by 4 people

    • Cowboy79 says:

      Congress writes the Tax Laws.
      Trump’s Accountants and Lawyers apply those laws.
      Just like you and me.
      End of story.

      Got a beef with taxes? Talk to your Congressman.

      Liked by 2 people

    • Kroesus says:

      He actually made that point at several rallies and at least one debate with the Wicked Witch of the Midwest. He said he paid as little taxes as possible because he was smart and used the tax laws as written. He made a point of this after MadCow’s “Income Tax” release as well.

      Liked by 2 people

  33. WhiteBoard says:

    No russian (moscow mayor) payments in his tax returns. how about china payments?

    complete FAIL.

    NYT you are being sued out of existence. you got your WARNING today at the presser-.. the 230 review at DOJ has got zero coverage! which is okay. who really cares about coverage.

    action….

    Liked by 2 people

  34. Minuteman says:

    I’m really starting to not like those guys at the NYT.

    By the way, how was their reportage on Hunter Biden scoring a cool $3.5 million from the billionaire widow of the mayor of Moscow. Any reports on how much he paid in taxes on that? What kind of business was that connected to? Real estate? Influence peddling? Nepotistic kickback?

    Liked by 2 people

  35. alliwantissometruth says:

    Perhaps someone in Trumps orbit might delve deep into Arthur O. Sulzberger Jr’s tax records and the tax records of the NYT’s Corporation

    Could be interesting

    Liked by 3 people

  36. Minuteman says:

    By the way, I don’t care what PDJT does with his $400k Presidential salary. He earned every penny. He’s actually taking a pay cut working for us. At $400k we’re getting a bargain because he delivers MAGA by the trainload.

    Liked by 4 people

  37. Mike Lee DelMarcelle says:

    What is not getting mentioned about the NYT story that is very important is that “nobody gives a flying cow cookie about Trump’s taxes”.

    Liked by 4 people

  38. Roadagent says:

    In addition to the financial, banking, and tax code illiteracy, the Times is also stupid enough to run this story that underlines that there are no Russians involved and that rat lawyer Cohen is a total fraud.

    Great work Gray Lady.

    Liked by 3 people

  39. Zydeco says:

    So the NY AG office is leaking ?

    Liked by 3 people

  40. Zephyrbreeze says:

    Game Theory….Trump wins again.
    No one changes their vote over this…at all.
    This is their big card?
    And they play it in Sept.?

    Liked by 1 person

  41. SSI01 says:

    Every single reporter and editor that saw or dealt with that story is jealous they aren’t able to hire the tax attorneys and accounting firms Trump is able to hire. You mean to tell me with a straight face there isn’t one of them who at least once in their adult life has wished out loud they didn’t have to pay any income tax? Never? Ever? C’mon, man!!

    Liked by 1 person

  42. L4grasshopper says:

    The Times said they won’t/can’t release the returns because it would expose their source.

    This seemed crazy, as there would be nothing on a tax return that could possibly reveal who leaked it to them, except……

    The name of the person or accounting firm that did the returns for Trump [I’m assuming Trump did not do them himself 🤗]

    If they were the source, then Trump can sue them into oblivion!

    Liked by 1 person

  43. Magabear says:

    This about sums it up.

    Liked by 6 people

  44. rpcoastie says:

    So, the New York Times turns typical real estate business into some kind of crime?

    Liked by 3 people

  45. stevelbrown says:

    Meanwhile someone should be in prison for leaking the documents

    Also, when the same organizations receives illegal leak after illegal leak after illegal leak at what point are they involved in a conspiracy?

    Liked by 4 people

  46. shevee says:

    Liked by 7 people

  47. L4grasshopper says:

    So….unless I missed something, there was nothing in the returns that was illegal, or even borderline.

    The tax code is crammed with ways to defer, deduct, reduce, and expense income so that final tax liability is as low as is legal.

    Isn’t that why the left in hi tax states is screaming for elimination of the SALT caps?

    Liked by 2 people

  48. Harvey Lipschitz says:

    The IRS Loves President Trump. He fattens Uncle Sam. Every time a high roller hits 800,000 payout at casino, Uncle Don sends Uncle Sam 200,000 he clipped from high roller. High roller loses 2,000,000 next day he waits till April 15, 2021 to file for refund.

    President Trump is the most audited American. He must have CPA audits for banks on all his loans.

    The real kicker is all the State gaming commissions take their 15% off the top line at the casino and watch him with surprise audits.

    (yellow journo babes at NYT are not half bright enough to take the classes required before taking CPA exam.)

    Gambling is a cash cow for gubmint at many levels. After all the taxes, the remaining net after depreciation is nill.

    Like

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