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For the tax ignorant rats whose bible is the NYTs
RoadTrip
Member, Swaye's Wigwam Posts: 7,895 
in Tug Tavern
Just one example of several inconvenient truths about Trump's taxes the NYTs is banking on its minions to not understand.
"Let’s try to educate the New York Times, again. Their review of Trump’s tax returns, however they were obtained, show that Trump paid no income tax in 10 of the previous 15 years and paid only $750 in income taxes in 2016. They claim this shows “a story fundamentally different from the one he has sold to the American public.”
There’s a basic difference between net income and cash flow. Taxes are paid on net income. Cash flow shows the net proceeds received by the owner and is what the investor/owner is most concerned about. Here’s how it works:
Suppose a real estate developer built a $100 million building. Suppose the building earned $3 million annually in before-tax income. If the tax rate is 33 percent, as it approximately was before the 2018 tax cut, the developer would pay $1 million in taxes and would have $2 million left over as his cash flow.
The IRS, however, allows investors to recover their investment capital before paying taxes. So, if the developer built a $100 building and the IRS allowed for the capital to be recovered over 25 years, then the developer would have a $4 million annual depreciation expense.
That means instead of $3 million in taxable income, the venture would have a $1 million loss. Therefore, no taxes would be paid, meaning the owner keeps all $3 million in income.
The tax returns would show a $1 million loss, but the cash flow would be $3 million instead of $2 million—a $1 million cash flow increase due to the reduction of income taxes. Any student who has taken at least one course in accounting or finance should know this."
New York Times Biased and Ignorant Reporting on Trump’s Taxes
https://www.theepochtimes.com/new-york-times-biased-and-ignorant-reporting-on-trumps-taxes_3517302.html
"Let’s try to educate the New York Times, again. Their review of Trump’s tax returns, however they were obtained, show that Trump paid no income tax in 10 of the previous 15 years and paid only $750 in income taxes in 2016. They claim this shows “a story fundamentally different from the one he has sold to the American public.”
There’s a basic difference between net income and cash flow. Taxes are paid on net income. Cash flow shows the net proceeds received by the owner and is what the investor/owner is most concerned about. Here’s how it works:
Suppose a real estate developer built a $100 million building. Suppose the building earned $3 million annually in before-tax income. If the tax rate is 33 percent, as it approximately was before the 2018 tax cut, the developer would pay $1 million in taxes and would have $2 million left over as his cash flow.
The IRS, however, allows investors to recover their investment capital before paying taxes. So, if the developer built a $100 building and the IRS allowed for the capital to be recovered over 25 years, then the developer would have a $4 million annual depreciation expense.
That means instead of $3 million in taxable income, the venture would have a $1 million loss. Therefore, no taxes would be paid, meaning the owner keeps all $3 million in income.
The tax returns would show a $1 million loss, but the cash flow would be $3 million instead of $2 million—a $1 million cash flow increase due to the reduction of income taxes. Any student who has taken at least one course in accounting or finance should know this."
New York Times Biased and Ignorant Reporting on Trump’s Taxes
https://www.theepochtimes.com/new-york-times-biased-and-ignorant-reporting-on-trumps-taxes_3517302.html
Comments
Anyways, let's say this fictional scenario is exactly what happened to Trump and it's why he ended up having no material income tax. That would still be evidence of him being a pretty incompetent businessman. Tying up $100m in cash over a multi-year period only to achieve a 3% annual return is enough to get any CEO fired by the board.
Our choice?
Pathetic.
He screwed up in his past levering up way past what he could afford...looks like he's gotten much more conservative in his old age...
Over leverage can be a fantastic tool. In the 80’s Trump was the fucking Master.
On the other, The Throbber also knows a shitload of corporate execs and self-promoters who have ka-chinged big time due to their ability to speak with absolute authority on any topic under the sun. By the time the powers that be figure out what inept cocksuckers they are, they have cashed in their options, pulled a sweet severance deal and are on to their next sucker.
Biden is running the same scam in the political areana and has for 47 years. Joe Biden is the working man's friend. Joe Biden is working for YOU, Cornpop. You can trust Joe Biden.