3324: Locker Room Taxes w/ Katharine Heller

[PippaMags]

Originally Posted by sievo

I had to look up this documentary about rich kids, looks like Born Rich from 2003?

https://www.imdb.com/title/tt0342143/

https://youtu.be/Gb831JpnImE

Here is a YouTube of Ivanka from 2003 talking about trump seeing the homeless man outside trump towers.

[Keith]

Thanks!

She had good taste in music...

[Liquid]

Originally Posted by Lord of the Cock Rings

The implication is that he has exaggerated his losses/expenses which is fraud.
One example would be $70,000 on having his hair done. That's almost $192 per DAY over a year.
He paid his daughter, who already draws a salary from the organization, over $700,000 in consulting fees to create a write off. It's not customary to pay your own employees for consultation.

There's taking advantage of loopholes vs cheating the system. The fact that his IRS audit has been dragging on for years is a pretty good indicator that his people have not been able to satisfy auditors that there isn't outright fraud. The fact that the Trump organization is being investigated for criminal practices by the state of New York is another indication that they are laundering money or hiding profits.

I completely agree with you. If the IRS can prove fraud that's great. But at the same time I understand the mentality of "exploiting" the system. Maybe it's because I'm South Asian. But it's so common here. Especially in business families. I have friends who have been drawing "salaries" from the business right from when they were in middle school. It's the mentality that the you do not get anything back from the government for the taxes you pay (infrastructure/public services, etc.,). Politicians here are literally stealing from the tax payer. So it's a matter of pride being able to avoid the most tax possible. People look at me as a fool for paying the "correct" amount of tax. My landlord was surprised that I didn't want a fake inflated rent receipt.

[Keith]

Not to regurgitate the main reasons it's not right, here's another one: I love the inflated rent idea. Now picture a man who would take advantage of that at the risk of getting caught. Can we all agree that person keeps cutting corner after corner and lying and cheating?

Etcetera, etcetera: he's your president.

[Liquid]

Originally Posted by Keith

Not to regurgitate the main reasons it's not right, here's another one: I love the inflated rent idea. Now picture a man who would take advantage of that at the risk of getting caught. Can we all agree that person keeps cutting corner after corner and lying and cheating?

Etcetera, etcetera: he's your president.

I completely agree that it's not right and that the President should be a role model / held to a higher standard.

That being said I was talking about whether it would affect him negatively. I really don't think so. I think for people who don't have much and feel like the government doesn't do shit for them someone avoiding taxes is not a big deal.

[Keith]

I read it like you said YOU don’t see what’s illegal.

But I hear ya.

[Maya]

I, a disabled veteran, pay more in taxes than Trump does. I am pretty pissed about it and I do not think it is fair.

[Scorpion]

I don’t understand why active service pay taxes at all!
I also think there should be a tax deduction for vets
And they should eliminate the VA and provide fully paid health insurance coverage.

To me this makes more sense than adding $billions to the defense budget to get a new carrier. You know if we are really talking about supporting (ed. not sprint) the military and looking to reduce deployments and the effects that has on morale.

[Scorpion]

Originally Posted by Maya

I, a disabled veteran, pay more in taxes than Trump does. I am pretty pissed about it and I do not think it is fair.

Thank you for your service.