The last time Donald Trump's tax returns went public, he paid $0

The last time Donald Trump's tax returns went public, he paid $0

May 21st 2016 4:00AM

The last time Donald Trump's returns became public, he paid $0 in taxes.The Washington Post reports that was for two years in the 1970s.

According to a 1981 report from New Jersey regulators, Trump used a popular tax code provision to report a negative income.


Trump has boasted about taking advantage of the tax code to pay as little as possible, but he's also made targeting those loopholes and the people and companies who use them a big part of his presidential campaign.

He's been increasingly reluctant to reveal his current tax returns, first claiming an Internal Revenue Service audit prevented him from disclosing them. According to several outlets, an audit doesn't legally prevent him from disclosing his past returns.


Now, Trump might become the first presidential nominee since the '70s to withhold his tax returns. Even though he criticized Mitt Romney for delaying his returns in 2012.

"Mitt has to get those tax returns out. I'm a little surprised they weren't better prepared for that," Trump said.

And Trump promised to release returns after President Barack Obamareleased his birth certificate — which Obama did.

The right and the left have attacked Trump for not releasing his tax data, but he still hasn't budged.

So why won't Trump release his returns? When anchor George Stephanopoulos asked Trump what his tax rate was, Trump replied, "It's none of your business."

http://www.aol.com/article/2016/05/2...15074240468025

Video can be seen at link.

well trump know what he is doing so listen to him

They all have CPA's to do their taxes and take advantage of every loophole. Is it legal...yes. Is it right...no. Which is why we need to do a major overhaul on filing taxes.

Get rid of the Obamacare penalty right off the bat! If you loose your job, you should not be penalized. Gut the loopholes, gut the IRS, simplify taxes and stop the fraud, waste and abuse of OUR money...which is in the BILLIONS! Billions flushed down the toilet is disgusting. Money handed over to illegals, IRS fraud, the list is long. Billions that should be invested in OUR infrastructure, putting American's back to work!

Some business adventures may not be successful after much expenditure, why pay if you do not owe for that year?

Seems a lot of $$$ is being thrown at the wrong people for the wrong reason while others are hounded for a $100. O admin is total incompetence combined with ulterior motives & deceit.

IRS Paid Out More than $23 Billion in Bogus Tax Credits Last Year

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by Caroline May20 May 2016

The Internal Revenue Service hands out billions of dollars in improper tax credits each year and, according to the Treasury Inspector General for Tax Administration, last fiscal year was no different.

In an audit report publicly released this week, TIGTA reveals that 23.8 percent — or $15.6 billion — of the Earned Income Tax Credits (EITC) the IRS paid out were improper. The EITC is a tax benefit intended for low to moderate income people.

The Office of Management and Budget defines an improper payment as “any payment that should not have been made, was made in an incorrect amount, or was made to an ineligible recipient” and considers the EITC to be a “high risk” for improper payments.

As a “high risk” program, TIGTA assesses the IRS’s compliance with statutory requirements to report improper EITC payment information to the Treasury Department.

The watchdog determined that, while the IRS did provide all the required information to the Treasury, the improper payment rate was well above the “less than 10 percent” rate mandated by the Improper Payments Elimination and Recovery Act.

TIGTA said the IRS’s authority should be expanded to allow for corrections to improper claims it uncovers.

“The IRS’s Fiscal Year 2017 budget submission contained a legislative proposal for correctable error authority,” J. Russell George, Treasury Inspector General for Tax Administration, said in a statement. “This authority would help it systemically address many of the erroneous claims it identifies.”

On top of misfired EITC payments, TIGTA also estimates that the potential Additional Child Tax Credit improper payment rate last fiscal year was 24.4 percent or $5.7 billion, and the potential American Opportunity Tax Credit improper payment rate in FY 2015 was 30.7 percent or $1.8 billion.

“TIGTA recommended that the IRS ensure that the revised Additional Child Tax Credit improper payment risk assessment process includes a quantitative assessment,” the report reads. “TIGTA also recommended that the IRS ensure that the results of the American Opportunity Tax Credit Improper Payment risk assessment accurately reflect the high risk associated with American Opportunity Tax Credit payments. The IRS agreed with the recommendations.”

http://www.breitbart.com/irs/2016/05/20/irs-paid-23-billion-bogus-tax-credits-last-year/

For the Record's week in review: Trump has tax problems — bigly

Eliza Collins
9:38 a.m. EDT May 21, 2016

Welcome to Saturday. Let’s recap this week in politics as you sip your coffee in bed. The investigative team at USA TODAY found out that Donald Trump’s businesses have gotten into quite a bit of trouble over their taxes, while Hillary Clinton is ready to say buh-bye to Bernie Sanders and face Trump in the general. Let’s get started:

Donald Trump has had YUUUUGE tax drama

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Donald Trump attends a fundraising event in Lawrenceville, N.J., on May 19, 2016. (Photo: Eduardo Munoz Alvarez, AFP/Getty Images)


A USA TODAY analysis found that almost every year since the late 80s, Trump’s businesses have been having tax issues — and there are at least 100 lawsuits and other disputes to prove it.

Since the beginning of Trump's campaign nearly a year ago, at least five of his companies received warrants for more than $13,000 for late or unpaid taxes. And that plane Trump uses to get from place to place? His company that owns it owed $8,578 in taxes — they’ve since paid that.

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Donald Trump speaks during the NRA Annual Convention Leadership Forum Friday at Freedom Hall. (Photo: Alton Strupp, The Courier-Journal-USA TODAY Sp)


These numbers came out in the middle of a particularly awkward time for Trump, as pressure builds for him to release his taxes. He's said no thanks, he's being audited — and even if he wasn’t, his tax rate is “none of your business.”

In bonus news: The lawyer Trump hired to work on his search for a running mate (the same guy who helped find former Alaska governor Sarah Palin in 2008) used criteria that the presumptive GOP nominee wouldn't currently meet — you guessed it, that the 2008 VP candidates had to share their taxes.

http://www.usatoday.com/story/news/p...rump/84672356/

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Originally Posted by Beezer

They all have CPA's to do their taxes and take advantage of every loophole. Is it legal...yes. Is it right...no. Which is why we need to do a major overhaul on filing taxes.

Get rid of the Obamacare penalty right off the bat! If you loose your job, you should not be penalized. Gut the loopholes, gut the IRS, simplify taxes and stop the fraud, waste and abuse of OUR money...which is in the BILLIONS! Billions flushed down the toilet is disgusting. Money handed over to illegals, IRS fraud, the list is long. Billions that should be invested in OUR infrastructure, putting American's back to work!

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We need to pass the FairTax Act of 2015, which repeals all income based taxes including payrolls taxes, and replaces the income based and payroll taxes with a national retail sales tax of 23%, 14.91% earmarked for general revenue and 8.09% earmarked to robustly fund Social Security and Medicare. There's a rebate provision that reimburses in advance every citizen and legal permanent resident the amount of Fairtaxes they do or might, whether they or not is irrelevant, up to the Household Consumption Allowance established by the Department of Housing and Human Services.

It's the best tax plan ever. It will bring all of our industries and good jobs home. All workers and producers and earners go home with all the money. Everyone pays these federal taxes when they buy new goods and services. Used items and business to business transactions are exempt. 501 C 3's are exempt and treated like every other business operating in the US.

HR 25 in the US House of Representatives and S 155 in the US Senate. I think Trump will support it if we do. He likes it but went with a tweak of the income tax because he thought it would be faster. Surprise him, and push the FairTax this year or in 2017, his first year in office.

NOTE: Illegal aliens are not eligible for the rebate which puts them at a huge comparative disadvantage when they're trying to steal jobs from Americans.

NOTE: Imports are taxed the same as domestic goods and services which balances the playing field and will quickly balance our trade deficits.

I respectfully have to disagree about the fair tax. This is why http://www.devvy.com/new_site/fair_tax_080910.html

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Originally Posted by MW

And Trump promised to release returns after President Barack Obamareleased his birth certificate — which Obama did.

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He released what some experts believe to be a forged birth certificate. So I don't think Trump should have to release his tax returns(especially when Greta Van Sustern said if she was his lawyer, she would advise him not to release them), unless he wants to do like Obama, and release a forgery(of his tax returns).

The so-called Fair Tax plan isn't fair at all and it is a horse that will never ride nationally. Time to climb off that horse and let it rest (IMO). Heck, with the exception of one person, I don't think I've seen one ALIPAC member show an interest in the plan or come out in support of it.

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Fair tax is a trap: Demand NO vote on H.R. 25

By: Devvy
August 9, 2010

The other night on the boob tube I caught a commercial featuring a talk show host named Neal Boortz, Michael Reagan (adopted son of former president, Ronald Reagan) and the vile Newt Gingrich. All pushing for another dangerous taxing scheme that will not cure the cancer, only continue to feed the beast.

Boortz has been on this "fair" tax bandwagon for years. It's obvious he has zero understanding of the Federal Reserve and why such a taxing scheme would only continue to steal the fruits of our labor to fund massive government spending.

Michael Reagan is also a talk show host who, like Boortz, has zero understanding of our monetary system and its feeding artery: the IRS.

Newt Gingrich sold out this country decades ago with his votes. Besides being a serial adulterer and ethtically bankrupt [1], Newt Gingrich is the global master's trophy boy. He hopes the Republicans take control of Congress in November because there's no doubt in my mind, Gingrich is out to be president of these united States of America. We can never let that happen. Do you know Newt was caught on tape saying the ridiculous "Contract with America" was nothing but a <acronym title="Google Page Ranking">PR</acronym> tool for incoming freshmen members of Congress? Yes, that's a fact. They were obtained by Roll Call. Old Newt pulled a fast one on faithful conservatives. His votes killed MILLIONS of jobs and sent them south of the border and overseas.

In order to understand why H.R. 25 is just another tool of tyrants, you have to go back and see where and when the problem started. Prior to 1913, we had no federal income tax. There was no unconstitutional "Federal" Reserve Banking system and there was no Seventeenth Amendment. This nation thrived in agriculture, manufacturing and industrial output.

The shadow government that has been controlling Congress for almost a hundred years had the downfall of America well planned. First, an income tax to syphon off the fruits of our labor. Even though the Sixteenth Amendment wasn't legally ratified and did not give Congress any new power of taxation, we all know what that Gestapo criminal syndicate will do to you if you don't voluntarily submit (with a gun to your head) to looting your earnings.

In order to strip the States of the Union equal suffrage in the U.S. Congress and turn over that purse to the mobs, the Seventeenth Amendment was declared ratified even though it clearly was not. The states then became dependent upon the whims of maggots like John McCain, Chuckie Schumer, Dick Durbin, Diane Feinstein, Lindsay Graham and all the rest of them..

The big granddaddy came in December of 1913 when Congress passed the unconstitutional Federal Reserve Banking Act.

As long as the FED exists, there can be no economic freedom for we the people.

As long as the FED exists, the Outlaw Congress will continue to borrow more and more worthless fiat currency to fund these grotesque, illegal invasions of foreign countries, fund massive unconsitutional welfare programs like the Department of Health and Human Services, unconstitutional cabinets like the Federal Department of Education and the EPA. The Outlaw Congress will continue to rape we the people to send hundreds of billions of BORROWED "dollars" to the communist UN, the USAID (United States Aid for International Development), BIS (Bank of International Settlements) and the World Bank. That's the short list.

This so called "fair" tax gets rid of the indentured servitude taxes: Medicare and Social Security as well as some others. But, make no mistake: this is a convoluted route to keep the money flowing into the central bank and will only continue to ignore the real cancers: massive out of control government and a debauched currency.

For decades I have said, along with millions of others: A limited form of republican government means just that and mandatory at the top of the list is to get rid of the income tax, the FED, get us out of Bretton Woods and all the foreign financial entanglements looting the people's purse. People can still pay their indentured servitude taxes and the Outlaw Congress can pass simple bills to eliminate the obscene death tax as well as others.

In order to fully understand the truth about these fake "solutions" (fair tax, flat tax), you have to do the research. Those taxing schemes are nothing new, but it appears there is big money behind getting that bill passed and we must stop it. If Congress wanted to get rid of the income tax, they could have done it decades ago. The Republicans had control of Congress from January 1995 - December 2006. All they did was continue spending us into unpayable debt. And, yes, the debt is unpayable, and if you think the U.S. won't default on its debt, you are ignoring the hard, cold facts.

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Click image for large view

Please take the time to read these excellent analysis on the phony "fair" tax so you fully understand it is just another trap:

There is No Such Thing as a Fair Tax

"So, instead of calling for the elimination of the various federal programs that feed off tax dollars, Boortz wants to merely change the way they are funded....This means that the Fair Tax idea should have been discarded at the very beginning, for instead of saying that it was not fair that the government confiscate 10, 20, 30, or 40 percent of a man's income, the Fair Tax proponents did not even begin to tackle the root of the problem: the welfare/warfare state that drives the federal leviathan's insatiable lust for the taxpayer's money."

Once Americans began to understand the ludicrous hype in Boortz' argument, out came another book to "clarify" the lies:

There is Still No Such Thing As a Fair Tax

"Boortz is right. There are some eye-opening new insights unique to this sequel. Like the disclosure that you might "owe more in taxes in the first year of a Fair Tax system than you do today."[1] Or the admission that "the Fair Tax could be even more progressive than our current system."[2] Or the confession that the "implementation of the Fair Tax doesn't mean complete annihilation of the IRS."[3] Or the proposal that "a procedure should be set up in the Treasury Department to collect taxes on Internet and catalog sales, remitting the state and local governments' share to them."[4]

From the "this is how slaves are made" crowd:

Rebuttals to Mises Institute Fair Tax Review

"Once you read his [Vance] entire article you realize his real objection is not with the Fair Tax but with any Federal Taxation at all. His Anarchist approach to no taxation in which he hates all forms of taxation is found at:http://www.mises.org/story/1975

Well, here's a news flash for the author of that piece: I am not an anarchist nor do I belong to the Libertarian Party. I left the GOP in 1996 and have been registered no party ever since. Yes, there is a requirement for taxation to run a limited form of republican government. The limitations upon Congress and the people's purse is specific in Art. 1, Sec. 8 of the U.S. Constitution. The author has zero understanding of the intent of the Framers of the U.S. Constitution regarding taxation. If you read the link below, Understanding why no income tax.....scroll down to the section on Vivien Kellems and read it. The author in the piece above (link) apparently seems content to allow the Outlaw Congress to continue sacking and looting the people's treasury, but as I've said so many times: The rooster has come home to croak.


Understanding why no income tax is necessary to fund the federal government (text and also free on audio)

Tax cuts, Fair Tax Schemes Keep People Herded in the Wrong Direction


Here is the text of H.R. 25 and SHAME on Republicans like the nitwit who "represents" me, Randy Neugebauer, Ted Poe, Darrell Issa and others for supporting such a dangerous bill that will only continue to support massive government spending while picking our pockets because we all have to buy things like food: "The Fair Tax Plan is currently pending in Congress under the name of "The Fair Tax Act of 2005." It is a consumption tax in the form of a national sales tax of 23 percent on new goods and services. Although it would "not be imposed on used or previously owned items," it would apply to all new goods and services: medical procedures, haircuts, new cars, new homes, gasoline, food, medicine, Internet purchases, and electricity."

It is now the Fair Tax Act of 2009. 145 pages of mumbo jumbo cowpatties. I read all of it.

Now, Neal, Reagan and Newton, you want to slap a 23% mandatory tax on the food we eat. Just what the Founding Fathers had in mind! Americans can't afford health care services as it is and those caring boys with their very healthy incomes want to slap a 23% tax on a family struggling to make ends meet or seniors living on a fixed income who need medicine. America: Soundly reject this lunacy. A return to a limited form of constitutional government is the only real solution.

Boortz, Reagan and Gingrich are pumping this bill big time. Please call your Congress critter or get to a town hall meeting tell them to vote NO on H.R. 25. It is not the solution.

Learn the truth:

November 16, 2009: Demand Congress stop withholding taxes now
February 1, 2010. Congress refuses to bring home millions of jobs
March 10, 2010: Finally: Bill To Get The U.S. Out Of NAFTA
August 2, 2010: Fed up with Band Aids

Proof the Seventeenth Amendment was never ratified

Newt Gingrich: Enemy of America

[1] On January 21, 1997, for the first time in the House of Representatives 208 history, Newton was disciplined as Speaker and paid a $300,000 fine. The vote to reprimand him was 395-28.

Who is the real Newt Gingrich?
Gingrich supported the ILLEGAL Mexican peso bail out
In fact, he put it into motion
Newt Gingrich: The Establishment's Conservative

Devvy Kidd authored the booklets, Why A Bankrupt America and Blind Loyalty; 2 million copies distributed. Devvy appears on radio shows all over the country. She left the Republican Party in 1996 and has been an independent voter ever since. Devvy is a constitutionalist who believes in the supreme law of the land, not some political party.

Visit Devvy's website at: http://www.devvy.com. You can also sign up for her free email alerts. Devvy's radio show broadcasts Mon-Fri. To listen, go to:http://www.devvy.com/new_site/rense_show.html

http://www.devvy.com/new_site/fair_tax_080910.html

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Originally Posted by MW

The so-called Fair Tax plan isn't fair at all and it is a horse that will never ride nationally. Time to climb off that horse and let it rest (IMO). Heck, with the exception of one person, I don't think I've seen one ALIPAC member show an interest in the plan or come out in support of it.

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Which is very interesting considering it does more to solve the trade and immigration problems faster and easier without confrontation than any trade or immigration proposal out there, which are 2 of the primary reasons I support it.

I think the problem some people have is they rely too much on what authors, pundits and writers think instead of forming their own independent opinion based on their own personal knowledge.

The Devvy Kidd article is 100% wrong. The FairTax doesn't tax the "fruits of your labor", the income tax does that. The FairTax doesn't "feed the beast" of the Federal Reserve, it actually causes its collapse.

The FairTax is a tax on voluntary consumption, a sales tax on new goods and services you choose to buy. There is no mandate, there is no guarantee of revenue for the Federal Reserve that it can rely upon and it can't survive without the mandated income tax. It was created in the same year as the income tax, AFTER the income tax was passed the the 16th Amendment ratified. There is a reason for that which Devvy apparently doesn't understand.

Again, people need to rely upon their own good judgment and preferences rather than what pundits who may be right on some issues but who are totally wrong on others. This article by Devvy Kidd is a perfect example of that.

Judy wrote (excerpt):

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I think the problem some people have is they rely too much on what authors, pundits and writers think instead of forming their own independent opinion based on their own personal knowledge.

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I can't speak for others but I thoroughly researched the so-called fair tax plan prior to forming an opinion on it. Just saying ......

Oh that's great, MW! Maybe one day soon you'll articulate in our own words why you oppose it.

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Maybe one day soon you'll articulate in our own words why you oppose it.

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MW: Translated that means make up a bunch of stuff and try to make people believe it. :cool:

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Originally Posted by JohnDoe2

MW: Translated that means make up a bunch of stuff and try to make people believe it. :cool:

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;)

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Originally Posted by Judy

Oh that's great, MW! Maybe one day soon you'll articulate in our own words why you oppose it.

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That's a fairly rude comment to make considering we've had numerous discussions on the topic over the last year or two. Besides that, many folks prefer to have facts substantiated by evidence vice a created story-line designed to manipulate an argument to fit a personal agenda.