Amazon isn’t running for president touting their qualifications as being someone good at business.
Also, the fact that they haven’t paid taxes is also despicable.
Trump paying taxes
- Thread starter Aggie98nHouston
- Start date
Also, the fact that they haven’t paid taxes is also despicable.
You're changing the subject. The post to which I responded was where you said "this story illustrates very well what a bad businessman he is. A big reason he’s able to not pay taxes is because of how many losses he’s taken." I pointed out that Amazon (and there are other examples) didn't pay any taxes for some years. But I don't think you'd seriously argue that Amazon is bad at business and is not able to pay taxes.
I was showing that your analogy is bad, for those reasons, but another reason that’s more to your point is the second part of my original post that you chose to ignore, about the impending doom to his organization due to the outstanding debt. Amazon does not have that problem, therefore your analogy is false.
You made two points and the first is shown to be false. Your premise is that if someone has losses and therefore has a $0 tax burden, then they are bad at business. And that's just not true. Whether the person is running for President or not.
The second about debt is a red herring because you have no actual data to show whether or not there are adequate resources to pay those debts. It may or may not be true. You don't have a balance sheet or a cash flow statement, though if you do then please link to it and also link to the various debt instruments. And I doubt the NYT has one or, if it does, whether the reporter knows how to read it. Also, have you determined whether the debt can or will be refinanced? Not unusual to refinance the debt. Is the debt on assets that are likely to be sold and in turn extinguish the debt in a sale? Any number of ways corporate debt is handled. Again, it's not as simplistic as looking at a number and saying "that's a big number and I don't see a correspondingly big number on a balance sheet."
Just to be clear, you are making the argument that Trump’s business and Amazon’s business have the same chance of success?
Also, the financial reports you refer to are part of a tax return, do any entity that has the returns has this information. NYT has sufficient resources to employ persons able to interpret this information.
Sure, debt refinancing happens, but only when there is sufficient collateral and/or sufficient revenue. According to his taxes, he has neither. So, either he is lying on his returns, or he actually is bad at business. Which is more moral?
Biden is running for President and was in political office for 47 years. In fact he should garner more questions like how he became rich as a public servant.
He freely offered this information at the beginning of his campaign.
https://www.townandcountrymag.com/society/politics/a31265187/joe-biden-net-worth/
You're making zero sense as usual and constantly trying to shift the narrative, but I'll respond nonetheless:
Just to be clear, you are making the argument that Trump’s business and Amazon’s business have the same chance of success? No; I didn't make the argument that they are the same. You made a facile argument that if one doesn't pay taxes they must be bad at business. I proved that's not true.
Also, the financial reports you refer to are part of a tax return, do any entity that has the returns has this information. NYT has sufficient resources to employ persons able to interpret this information. I've not seen cash flow statements and balance sheets as part of a corporate tax return. What corporations, for example, file with the SEC for public companies and file in their taxes often paint very different pictures of financial health. I posted below a generic comparison of the two.
Sure, debt refinancing happens, but only when there is sufficient collateral and/or sufficient revenue. According to his taxes, he has neither. So, either he is lying on his returns, or he actually is bad at business. Which is more moral? How do you know there isn't sufficient collateral or revenue? Again, tax returns are not the same as financial statements. This has nothing to do with morality. Are people bad at business immoral people? I don't know if he's particularly good or bad at business, but that's not a moral issue. He also doesn't fill out his own tax returns but relies on accountants and lawyers. Are people who accept advice from tax professionals immoral?
Tax Return Components
Businesses and individuals use tax returns to report information to the IRS. Included on the return are income, expenses, deductions, credits, exemptions and the calculation of tax due to the federal government. The tax return provides a snapshot of money coming in and going out of a business for a specific calendar year. The method of accounting for tax returns follows either a cash basis or accrual basis. Under the cash basis, the income is recognized as it comes in while expenses are recognized when they are paid. Accrual basis considers expenses when they incur, not when they are paid.
Compiled Financial Statements
A compiled financial statement provides the financial information of a company or individual, including income, expenses, cash flow, assets and liabilities. A financial statement features an accrual basis of accounting. In most cases, the Generally Accepted Accounting Principles (GAAP) dictate the method of compiling information. However, the Journal of Accountancy reports that certain situations require the reporting of financial statements under the "other comprehensive basis of accounting," (OCBOA). Both methods provide a comprehensive look at the worth of a company, but the OCBOA method usually takes less time and cost to prepare.
This is the equivalent of a child putting his hands over his ears and screaming “LALALALALALA”
Funny the timing on this and Biden has a tv ad the same day. NYT and Biden conspired on another POS. You wonder about the character of people that get behind party like this?
I think it’s frightening that someone potentially leaked his tax returns. That’s a felony.
How would any of you like your personal tax returns dissected in public, without the actual tax returns being even shown.
That should scare the shit out of everyone.
How would any of you like your personal tax returns dissected in public, without the actual tax returns being even shown.
That should scare the shit out of everyone.
It's easy, because ALL politicians lie and cheat. It's part of the game. But since you are so honorable you won't vote for any of them.
It's called collusion. The Democrat and media variety.
Oh, like his "I started at a Historically Black College" kind of story? Yeah. That guy has lied for so many years he doesn't even know what the truth is anymore.
Do we really believe the tax returns are real? I mean come on, man! Who would have leaked it? The IRS? That would be deep state coup material. The accounting firm? That would be business suicide. And really, $750 in taxes 2 years in a row? His returns stack up 2' high and it comes out to $750 every time? Come on, man!
I am not sure they have the whole return. But I do believe that somebody leaked portions of his returns and they are using them in a way to try and paint a picture that is unfavorable. Somebody committed a felony either way, if the bits of the return are even partially true. Like I mentioned, that should scare everyone.
I was talking to a friend who is a NYT reporter back in 2015-2016 and she was saying how dangerous Trump’s term fake news is. How if people buy into the idea news is fake it will really divide the country and people will just completely discount news that doesn’t fit their narrative. I thought she was way overreacting. Turns out she was dead on.
The idea the news makes stuff up is just absurd. They can be wrong from time to time, but the conspiracy stuff is crushing this country.
-aggie98inhouston
So we blame the person calling it out before those actually doing it for the past 40 years. And before you brush that off, look at how the media treats republican presidents compared to democrats since Reagan (actually, probably since Nixon but I'll be conservative in this accusation). They hide behind the first amendment but they aren't even interpreting it correctly. It's not there so the media can choose what they want to report which has turned into a one sided mess, it's there to protect the people, so we are given all info from both sides good and bad so we can make educated decisions in elections. So yes, the media in it's current state is the enemy of the people since they have chosen to be the propaganda wing of the democrat party.
Good points in here, and I'll pile on with another: social media as it stands now also bears blame for its behavior in flagging/censoring some speech that it disagrees with and not other speech with which it agrees.
Offshore was quoting Aggie98. Your response seemed like you thought it was his words
Don't let facts get in the way of a liberal rant. Trump is bad for being a business man and trying to pay as little tax as possible. I also do believe there are too many tax loopholes for very rich people with tax attorneys.
There are two sides to that argument. The tax breaks are intended enticements for businesses to create jobs. So in that sense it is a good thing. Do the jobs created generate more taxes down stream than taxing the originating entity? I don't know that answer. Enabling large corp's (Trump, Amazon, etc) to pay zero taxes may be taking it a little too far but I do understand the concept and intent.
That is the way the left wing MSM tries to frame it without actually saying so. So of course the left wingers are going to go with he is cheating. You should hearNora O'Donnell breathlessly report each night now how this latest "scandal" could cause the Trump campaign issues. And that is the left's intent........take a non-story and make it one to cause the Trump campaign issues.
You mean like Hillary did? https://www.nationalreview.com/corn...t-from-her-emails-according-to-russian-intel/
Or like Harry Reid did to Romney? https://time.com/3765158/harry-reid-mitt-romney-no-taxes/
I’d rather see Hillary’s deleted emails than Trumps tax return.......
The amount Trump (and Amazon and others) paid in taxes is the result of a severely broken system. He didn't have to cheat to get to that number. The system did it for him. It was designed that way.
Only one side seems interested in fixing it.
Only one side seems interested in fixing it.
haha if one side was interested in fixing it, we would be discussing it in past tense.
Let me try again, maybe an even simpler statement. The US tax code is what it is. Personally, and honestly, I’d rather keep every penny that I earn. That said, I comply with the US tax code and take advantage of every legal deduction allocated to me under the code. I expect Trump has done the same. The IRS processes my filing, as it does for all filings ( including Trump’s ) and either accepts, suggests changes via inquiry, or audits the filing.
All that said, these filings are between the taxpayer and the IRS. They are NOT for public consumption other than if authorized by the taxpayer. Period. Now with respect to the political race, there is zero requirement to disclose income tax records in the election code. This ‘ rich guy needs to show his returns‘ crap started with George Romney back in the 1960’s. He did it trying to get a nomination, ie for political reasons.
i have zero interest in Trump’s income tax returns. None of my business. Period. There is a candidate financial disclosure that is required. Trump has filed it and that’s that as it were.
lastly, calling someone that disagrees with you ‘retarded’ is something only a dick would do! Look in the mirror, bud!
I'm going to pretend to care about this. No, wait. I'm not. Change the law.
