Trump MAGAThread V: March Comes In Like A Lion

[Grinning Dragon]

One year of his tax return (the front page of it) was released. Trump called it a leak. It could have been him who directed the leak, but in that case it's also possible it is fake.

But according to that, Trump did pay personal income tax one year.

He's also bragged openly on the campaign trail about how much smarter than everyone else he is because he uses loopholes and deductions in order to pay no tax.

But apparently admitting to tax evasion is IOKIYAR.

How are using loopholes and deductions, tax evasion?
Any tax-prep worth his salt would seek those out to help his clientele, as ours does when we file.

[Galloism]

He's also bragged openly on the campaign trail about how much smarter than everyone else he is because he uses loopholes and deductions in order to pay no tax.

But apparently admitting to tax evasion is IOKIYAR.

How are using loopholes and deductions, tax evasion?
Any tax-prep worth his salt would seek those out to help his clientele, as ours does when we file.

Of course we do. It's our job.

Except we don't say loopholes. We say "tax advantages".

[AiliailiA]

AMT brings in quite a bit doesn't it?

I'm sure it does, but also keep in mind rich people (and people with good accountants) will always engineer their taxes. My point thereof is that is that it only pays to engineer down to a certain point. After that, AMT will wipe out your engineering efforts (there are also AMT engineering aspects, but those are harder). Ergo, because of AMT, it only makes sense to engineer so hard.

We don't know how much more "engineering" rich people will do without the AMT.
That makes it hard to estimate how much revenue the Federal government would forgo by abolishing it.
I'm just thinking of the revenue, not so much the effect on taxpayer behavior.

[Grinning Dragon]

How are using loopholes and deductions, tax evasion?
Any tax-prep worth his salt would seek those out to help his clientele, as ours does when we file.

Of course we do. It's our job.

Except we don't say loopholes. We say "tax advantages".

Right, sorry, that's what our tax prep calls it, and I guess that's why he can charge the fee that he does. Money well spent IMO.

[Ifreann]

Im sorry NSG. I've looked at the trump tax plan and it is so vague I can't even write a good analysis of it.

Only takeaway: he wants to eliminate AMT, which probably means he personally will never pay tax again. Because if there's one guiding star in this administration, it's what will benefit Donald.

Donald Trump's Tax Reform Plan:

• No more taxes for Donald Trump
• Everyone else, I dunno, we'll work something out.
• Something simple.

[Thermodolia]

Im sorry NSG. I've looked at the trump tax plan and it is so vague I can't even write a good analysis of it.

Only takeaway: he wants to eliminate AMT, which probably means he personally will never pay tax again. Because if there's one guiding star in this administration, it's what will benefit Donald.

Donald Trump's Tax Reform Plan:

• No more taxes for Donald Trump
• Everyone else, I dunno, we'll work something out.
• Something simple.

That's pretty much the basis for every Trump administration plan

[Blakk Metal]

They're the party who want to prove government doesn't work by constantly taking charge of it and running shit to the ground.

Yep.

And then they proceed to campaign around and target the people who benefit the least from their tax plans (Lower class, less educated, etc...)

You are making the same mistake Clinton made last year. The Republican base does not reside in the trailer park, they live in the country club.

[Oldenfranck]

The Georgia 6th Runoff should have been scheduled earlier, like France is doing for their second round. Someone needs to put Jon Ossoff out of his misery (figuratively, not literally), right now, he is hobbling towards his imminent doom, and it is kind of getting painful to watch, and we have to watch it for almost another two months.

[Washington Resistance Army]

The Georgia 6th Runoff should have been scheduled earlier, like France is doing for their second round. Someone needs to put Jon Ossoff out of his misery (figuratively, not literally), right now, he is hobbling towards his imminent doom, and it is kind of getting painful to watch, and we have to watch it for almost another two months.

Yeah it seems kinda odd for it to be so far out, 2 weeks or so should have been fine.

[Camicon]

The Georgia 6th Runoff should have been scheduled earlier, like France is doing for their second round. Someone needs to put Jon Ossoff out of his misery (figuratively, not literally), right now, he is hobbling towards his imminent doom, and it is kind of getting painful to watch, and we have to watch it for almost another two months.

Yeah it seems kinda odd for it to be so far out, 2 weeks or so should have been fine.

The rich need the politicians to have enough time to spend the oodles of money they're throwing at them.

[Oldenfranck]

Yeah it seems kinda odd for it to be so far out, 2 weeks or so should have been fine.

The rich need the politicians to have enough time to spend the oodles of money they're throwing at them.

My Little Pony (TradeMarked) has a point there.

[Camicon]

The rich need the politicians to have enough time to spend the oodles of money they're throwing at them.

My Little Pony (TradeMarked) has a point there.

I have a name. Feel free to use it.

[Valgora]

My Little Pony (TradeMarked) has a point there.

I have a name. Feel free to use it.

Can I just call you Best Pony?

[Oldenfranck]

My Little Pony (TradeMarked) has a point there.

I have a name. Feel free to use it.

Ok then, what name would you like me to refer to you as?

[Washington Resistance Army]

I have a name. Feel free to use it.

Ok then, what name would you like me to refer to you as?

Camicon?

[Camicon]

I have a name. Feel free to use it.

Can I just call you Best Pony?

No.

I have a name. Feel free to use it.

Ok then, what name would you like me to refer to you as?

Take a guess, Oldenfranck.

Camicon?

Winner-winner, chicken dinner!

[Oldenfranck]

Ok then, what name would you like me to refer to you as?

Camicon?

Ok, that works.

[Thermodolia]

The Georgia 6th Runoff should have been scheduled earlier, like France is doing for their second round. Someone needs to put Jon Ossoff out of his misery (figuratively, not literally), right now, he is hobbling towards his imminent doom, and it is kind of getting painful to watch, and we have to watch it for almost another two months.

And you somehow know that the most hated and distrusted republican in the state will win it?

[Gauthier]

The Georgia 6th Runoff should have been scheduled earlier, like France is doing for their second round. Someone needs to put Jon Ossoff out of his misery (figuratively, not literally), right now, he is hobbling towards his imminent doom, and it is kind of getting painful to watch, and we have to watch it for almost another two months.

And you somehow know that the most hated and distrusted republican in the state will win it?

People would vote for a diseased corpse if it was registered as a Republican.

[Thermodolia]

And you somehow know that the most hated and distrusted republican in the state will win it?

People would vote for a diseased corpse if it was registered as a Republican.

Trust me when I say this but people really really do not like Handel. Everyone I talk groans when I say her name, Republican and democrat alike.

[Germanic Templars]

And you somehow know that the most hated and distrusted republican in the state will win it?

People would vote for a diseased corpse if it was registered as a Republican.

Only issue is that the diseased corpse was already registered and voted Democrat, as we can see with Smitty Werbenjagermanjensen. :^)

[Galloism]

I'm sure it does, but also keep in mind rich people (and people with good accountants) will always engineer their taxes. My point thereof is that is that it only pays to engineer down to a certain point. After that, AMT will wipe out your engineering efforts (there are also AMT engineering aspects, but those are harder). Ergo, because of AMT, it only makes sense to engineer so hard.

We don't know how much more "engineering" rich people will do without the AMT.
That makes it hard to estimate how much revenue the Federal government would forgo by abolishing it.
I'm just thinking of the revenue, not so much the effect on taxpayer behavior.

I'm citing wikipedia, because i don't know much about the actual revenue portion (my focus is on the other end), but this is what Wiki says:

The reduction in tax revenues from repeal is relatively large. The loss is expected to be between $800 billion and $1.5 trillion in federal revenues over 10 years.[85] According to the Washington Post, "By 2008, it would cost the Treasury considerably less to repeal the ordinary income tax system than the alternative minimum tax, according to the Tax Policy Center, jointly run by the liberal Brookings Institution and Urban Institute." [86] In 2007, an analysis in the New York Times claimed that; (1) Annual cost of repealing the AMT, and maintaining the regular income tax, would be $70 billion, while (2) Annual cost of making everyone pay the AMT, and repealing the regular income tax, would be the lesser amount of $63 billion.[87]

https://en.wikipedia.org/wiki/Alternative_minimum_tax

Apparently, we could repeal the regular income tax for less than what it would cost to repeal AMT (which, likely, would then mean AMT is just "income tax").

[Oldenfranck]

The Georgia 6th Runoff should have been scheduled earlier, like France is doing for their second round. Someone needs to put Jon Ossoff out of his misery (figuratively, not literally), right now, he is hobbling towards his imminent doom, and it is kind of getting painful to watch, and we have to watch it for almost another two months.

And you somehow know that the most hated and distrusted republican in the state will win it?

That district would vote for a cow if it was registered as a republican over literally any democrat except Jimmy Carter.

[Luminesa]

And you somehow know that the most hated and distrusted republican in the state will win it?

People would vote for a diseased corpse if it was registered as a Republican.

People would do the same for Democrats. Argument invalid.

[Major-Tom]

And you somehow know that the most hated and distrusted republican in the state will win it?

People would vote for a diseased corpse if it was registered as a Republican.

Not in the 6th district. Ossoff has a real chance of winning. But I wouldn't count on it. The GOP is going to spend millions making him look like an out of touch extremist, scaring moderate voters who would otherwise vote Ossoff.