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2020 US Presidential election discussion


coffee_rules

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32 minutes ago, maniac said:

All these guys at best are incompetence. Don’t go by Trumps WWE style speeches, he is not a good guy either.
 

It’s like cheering for a racist moron because he makes fun of Pakistan, you might enjoy that but you know that he doesn’t hold that much different opinion of India either.

This, I absolutely agree @vvvslaxman But what I disagree with is that Biden or any other Democrats from similar background/age group is any less racist. Its just that one team has got better experience in managing non white votes.

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12 hours ago, mishra said:

This, I absolutely agree @vvvslaxman But what I disagree with is that Biden or any other Democrats from similar background/age group is any less racist. Its just that one team has got better experience in managing non white votes.

Why do you consider Biden a racist who was handpicked by a black president as VP and he handpicked a black VP. You really think Trump would even the wildest dreams would pick a black as his VP? When he went to his casino he would expect blacks not to be present there. He did not like blacks counting his money.  He tried to delegitimize the presidency of the first black president. Not to mention repeatedly retweeting white supremacists and demonizing BLM and not trying to offer any kind of condolences to the blacks that were killed by police.  When John Lewis a civil war veteran died did not even have anything to say except he made remarks about him not attending his opening ceremony. He didn't attend Bush ceremony as well. But Bush came and talked anyway. There is something called basic decency. This guy is the definition of evil, demon. Rooting for this guy or comparing him with any other guy from democratic party or even republican party is disgraceful. He doesn't stand for any ideology, principles. He just stands for himself.  His disparaging remarks about every other human being, every other institutions, every other country cannot be erased with his few flowery words. Trump supporting Indians just fall for a con man who has absolutely done nothing except tweeting. A man who goes great length to hide his taxes while all the presidents have shown their taxes should be the one we have to trust? Seriously his entire life is all about banging chicks and conning people. I have been following this guy for more than 15 years. He is probably one of the vile, filthy celebrity with zero good quality  i have ever heard of. Biden is a regular joe who took subway train for more than 20 years to get to work.  His life is fully of tragedy.  Lost his wife and daughter in an accident. More recently a son who died of brain cancer. Always known to be someone who shows great empathy in grief unlike our moron who tries to somehow make a sadistic remark about even during grief.  I don't really want to convince the Trump supporting Indians. It is waste of time. These are the things someone don't have to explain. 

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11 hours ago, someone said:

He certainly has done more than Obama of 2009.

Yeah, 190 K American died due to covid , but they died in peace and not in panic, hence the peace prize for Trump.  Trump knew in Feb about the pandemic but he did not do anything , not to create any panic, visionary leader. 

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29 minutes ago, First class said:

Yeah, 190 K American died due to covid , but they died in peace and not in panic, hence the peace prize for Trump.  Trump knew in Feb about the pandemic but he did not do anything , not to create any panic, visionary leader. 

Peace prize is not given for how he handles Corona, but world events. I don’t know why Obama was given Nobel prize for, Trump  brokered a UAE Israel peace deal. 

 

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On 9/9/2020 at 10:43 PM, coffee_rules said:

Peace prize is not given for how he handles Corona, but world events. I don’t know why Obama was given Nobel prize for, Trump  brokered a UAE Israel peace deal. 

 

Giving peace prize to Obama was the most ridiculous decision ever made by Nobel foundation. The guy left middle East in a mess, and he got Nobel peace prize , disgusting decision. Trump did not start a war or did not invade any country, but his lack of leadership and caused 190K US death and counting . He also snatched kids and infants from parents of people crossing from US's southern border, he is heartless creature.  And, thanks to him, racism in USA is at its peak now and there is no peace in large cities, compared to the past. 

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Explained: Paying 750 $ a year, how Trump avoided, evaded taxes

 

The New York Times has obtained US President Donald Trump’s tax information extending over more than two decades, “revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due”.

The NYT report says Trump paid as little as $750 a year as federal income tax in the first two years of his presidency (2016 and 2017). That is just over Rs 50,000 a year. It has also revealed that he managed to evade paying any income tax in 10 of the previous 15 years.

Trump’s tax payments were a hot-button issue when he contested for the presidency in 2016. However, he has successfully avoided revealing his tax details — the first for any US President — even after becoming President.

 

Ahead of the election on November 3 — Trump is seeking re-election — his tax records had become possibly the most sought after documents in recent times.

What is the scale of tax evasion?

According to the NYT calculations, over the past two decades, Trump has paid about $400 million less in combined federal income taxes than a very wealthy person who paid the average for the highest-earning 0.001% of tax filers in the US. While the tax rates applicable for the richest Americans have declined over the decades, with the wealthy exploiting several “loopholes” to bring down their liabilities, The NYT notes that “most affluent people still pay a lot of federal income tax”.

 

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The NYT has found that Trump, despite enjoying the lifestyle of a billionaire, paid no federal income taxes in 11 of 18 years the newspaper examined. Trump is the wealthiest US President in history but his income tax payment is lower than some of his most recent predecessors such as George W Bush (200-09) and Barack Obama (2009-17), who routinely paid federal income taxes in excess of $100,000 a year — roughly 140 times what Trump paid.

How did Trump manage to do it?

He seems to have used various ways to either reduce his tax liability or get a refund on tax paid. Towards reducing his liability, he reportedly did the following things:

Classifying personal expenses as the cost of business: Doing so brings down the taxable income. Trump has categorised everything from his residence to his golf course to his aircraft as business expenses. Even his hairstyling expenses — $70,000 (roughly 50 lakh) — as well as those of his daughter Ivanka Trump — $100,000 (roughly Rs 70 lakh) — have been shown as business expense, The NYT said.

The NYT said the treatment of Seven Springs, Trump’s estate in New York, “typifies his aggressive definition of business expenses”. The over 200-acre estate, bought in 1996, is openly called “a retreat for the Trump family”, yet for tax purposes, it is an “investment property” and not a personal residence. As a result, Trump “has been able to write off $2.2 million in property taxes since 2014,” The NYT wrote.

Paying high consultation fees: The NYT found that across nearly all of his projects, Trump’s companies set aside about 20% of income for unexplained “consulting fees”. For instance, when he collected $5 million on a hotel deal in Azerbaijan, he reported paying $1.1 million in consulting fees — bringing down the final profit before being subjected to taxation.

Also, the report said, this fee is collected by Ivanka or an organisation that he heads.

Showing businesses make heavy losses: Some of Trump’s most high-profile business ventures make heavy losses on paper. For instance, his golf courses, the centre of his business empire, have lost more than $315 million (over Rs 2,000 crore) in the last two decades.

“The Trump Organization — a collection of more than 500 entities, virtually all of them wholly owned by Mr Trump — has used the losses to offset the rich profits from the licensing of the Trump brand and other profitable pieces of its business,” The NYT wrote.

What about refunds?

Trump sought massive refunds. As a result, while he paid almost $95 million in taxes over the 18 years, he managed to “recoup most of that money, with interest, by applying for and receiving a $72.9 million tax refund, starting in 2010”. This refund is the subject of a long-running battle with the tax authorities.

 

https://indianexpress.com/article/explained/donald-trump-tax-evasion-us-presidential-elections-2020-6622941

 

Not at all surprising. He almost got away with it. Trust NYT to rankle him even more.

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There is nothing called tax evasion apart from situation like what Amazon does where by they sell products/services at massive discount to kill competitors. Only second method Is like when big cos declare the profit in some other country despite doing business/earnings in different country.
 

Rest of rules on tax are very clear, as long as you grow the business by reinvesting. I don’t see anything wrong at all like when starbucks Was paying no taxes but was opening new shop every other week.

 

One thing I woukd say is, in developed countries, companies with turnover in billions should not be allowed to pay staff a salary which requires government to top up salary of employee in terms of benefit system( atleast for full time employees, Part time employee should get wages at higher daily rate if employee was working full time). 
 

These are very simple tweaks but no one wants to change the tax law as lobbyists do enough

Edited by mishra
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certainly cnn & cronies will bring some sensational stories in the next 2/3 weeks like "grab them by their p****y" kind of stories ..

certainly other than liberals nobody cares ..

 

today trump is going to annihilate teleprompter joe in the first debate ..

eagerly waiting for the snippets 

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