Wednesday, 15 March 2017

Tax Dodger Trump



The Guardian reports that Donald Trump campaigned to abolish a tax which was introduced in America 50 years ago to ensure that the country's 'mega wealthy' citizens paid a fairer share of income tax.

Significantly Mr Trump also failed to explain how much this would have benefited his own business interests.  

Says something about the character of the man, if you ask me.

But the White House is now complaining bitterly despite the fact that Trump welcomed leaks during the presidential election when they were damaging to political opponents such as Hillary Clinton. 

Read The Guardian piece in full via the link below.  

  

https://www.theguardian.com/us-news/2017/mar/14/donald-trump-tax-return-leaked-alternative-minimum

Donald Trump tax returns: president had to pay millions due to tax law he aims to scrap

A section of the president’s 2005 tax return revealed that about 85% of what he paid the IRS was incurred due to ‘alternative minimum tax’


Donald Trumped pledged to eliminate the ‘alternative minimum tax’ altogether when he was campaigning for president. Photograph: Julie Jacobson/Associated Press

By Sabrina Siddiqui, Jon Swaine, and Julia Carrie Wong - The Guardian

Donald Trump’s leaked tax return reveals that the businessman had to pay tens of millions of dollars in a single year because of a tax rule that he has specifically promised to abolish as president.

A two-page section of Trump’s tax return for 2005, which was published by MSNBC late on Tuesday, revealed that the president paid $38m in federal taxes on more than $150m in income in 2005.

President paid $38m in 2005, leaked document reveals – as it happened
MSNBC report sparks angry response from the White House as return shows that Trump made more than $150m and paid $38m in taxes

But the documents also showed that about 82% of the total paid to the Internal Revenue Service that year by Trump and his wife, Melania, was incurred due to a tax that Trump has said should be abolished.

The “alternative minimum tax” (AMT), which was introduced to ensure the mega wealthy pay a fairer share of tax, comprised $31m of Trump’s tax bill compared with $5.3m in regular federal income tax. In the run-up to November’s election, Trump pledged to eliminate the AMT altogether, meaning the president campaigned for a change in the tax law that would have benefited him.

The publication of the paperwork prompted immediate condemnation from the White House, which accused MSNBC’s Rachel Maddow of breaking the law and preemptively released figures from the same year.

“You know you are desperate for ratings when you are willing to violate the law to push a story about two pages of tax returns from over a decade ago,” a Trump administration official said in a statement.
 
Donald Trump’s 2005 tax return. Photograph: MSNBC

Draft Dodger Trump (11/03/17)


President Donald Trump wears a flight jacket and an admiral's cap aboard the Gerald R. Ford carrier

Donald Trump is posing here in a flight jacket and admiral's cap during a recent visit to an aircraft carrier, but it's worth pointing out that America's commander-in-chief is a 'draft dodger' who received no less than five deferments from serving in the Vietnam War.

Apparently one of these deferments was down to 'bone spurs' in both heels although this condition didn't seem to hold Trump back during his four years at university during which time he was regarded as a 'student athlete' who played football, basketball, baseball tennis and squash.

Clearly, self-obsessed narcissists like Trump have no qualms about indulging in such cowardly. shameless behaviour.

Donald J. Trump, center, as a high school senior in 1964 at the New York Military Academy.CreditNew York Military Academy