1. #5081
    Service Manager 10,000+ Posts
    Let the truth be known

    Phil B.'s Avatar
    Join Date
    Jul 2016
    Location
    Raleigh NC
    Posts
    22,656
    Rep Power
    658

    Re: Let the truth be known

    Dick Morris: Trump Did Not Avoid Taxes, He Prepaid Them OPED

    Contrary to the false impression in the New York Times story, Donald Trump did not avoid taxes. He prepaid them.
    In 2016 and 2017, he requested and got an extension to file his returns. As required, he made an estimated tax payment of $1 million in 2016 and $4.2 million in 2017.
    Then, it turned out that he did not owe that much in taxes, but rather than demand the money back, he let the IRS keep it and apply it to any future tax he owed.

    So when he only paid $750 in taxes for the first two years of his presidency, it was because he had already overpaid during the two previous years and just reduced his payment by that amount.
    Over the longer term, Trump overpaid his taxes by $72 million. Because some of that overpayment was more than two years earlier, he was not allowed to offset it against current taxes.

    But Obama changed the law to allow taxpayers to go further back and he offset his tax liability in future years by citing his overpayment.
    So Donald Trump did not avoid paying taxes; he prepaid them.

    So what is wrong with that?
    Many taxpayers overpay or have more withheld from their paychecks than they end up owing in taxes. They look forward to a deserved refund each year. Some even use the process as a way of saving money.

    All that Trump did differently was to leave the money at the IRS and take the refund over several years. A government strapped for cash should reward such conduct, not vilify it.
    And since no good deed goes unpunished in politics, he is also being skewered for taking a charitable tax deduction of $119 million for agreeing not to build homes on a 200-acre plot in Westchester, New York, and a similar one in Los Angeles.
    In each case, Trump bought the property planning to build a golf course and homes on them. Both times, the local zoning board refused to allow the development.

    So Trump donated the right to develop this land to charity and took a deduction of $119 million, called a charitable easement.
    So now the beautiful land in each location will be preserved forever wild as a place of refuge for people, birds and animals.

    Beyond these points, several facts emerge:
    1. Trump never used any illegal means to reduce his tax liability. He always followed the law.

    2. He never used his power as president to get the IRS to pull its punches even though he appoints the director who serves at his pleasure.
    3. He took advantage of every way to cut his tax burden. Do you know any taxpayer who doesn’t?

  2. #5082
    Service Manager 5,000+ Posts
    Let the truth be known

    SalesServiceGuy's Avatar
    Join Date
    Dec 2009
    Location
    Nova Scotia
    Posts
    7,698
    Rep Power
    223

    Re: Let the truth be known

    Quote Originally Posted by Phil B. View Post
    Dick Morris: Trump Did Not Avoid Taxes, He Prepaid Them OPED


    Contrary to the false impression in the New York Times story, Donald Trump did not avoid taxes. He prepaid them.
    In 2016 and 2017, he requested and got an extension to file his returns. As required, he made an estimated tax payment of $1 million in 2016 and $4.2 million in 2017.
    Then, it turned out that he did not owe that much in taxes, but rather than demand the money back, he let the IRS keep it and apply it to any future tax he owed.

    So when he only paid $750 in taxes for the first two years of his presidency, it was because he had already overpaid during the two previous years and just reduced his payment by that amount.
    Over the longer term, Trump overpaid his taxes by $72 million. Because some of that overpayment was more than two years earlier, he was not allowed to offset it against current taxes.

    But Obama changed the law to allow taxpayers to go further back and he offset his tax liability in future years by citing his overpayment.
    So Donald Trump did not avoid paying taxes; he prepaid them.

    So what is wrong with that?
    Many taxpayers overpay or have more withheld from their paychecks than they end up owing in taxes. They look forward to a deserved refund each year. Some even use the process as a way of saving money.

    All that Trump did differently was to leave the money at the IRS and take the refund over several years. A government strapped for cash should reward such conduct, not vilify it.
    And since no good deed goes unpunished in politics, he is also being skewered for taking a charitable tax deduction of $119 million for agreeing not to build homes on a 200-acre plot in Westchester, New York, and a similar one in Los Angeles.
    In each case, Trump bought the property planning to build a golf course and homes on them. Both times, the local zoning board refused to allow the development.

    So Trump donated the right to develop this land to charity and took a deduction of $119 million, called a charitable easement.
    So now the beautiful land in each location will be preserved forever wild as a place of refuge for people, birds and animals.

    Beyond these points, several facts emerge:
    1. Trump never used any illegal means to reduce his tax liability. He always followed the law.

    2. He never used his power as president to get the IRS to pull its punches even though he appoints the director who serves at his pleasure.
    3. He took advantage of every way to cut his tax burden. Do you know any taxpayer who doesn’t?
    Dick Morris is a 73 year old Republican strategist who was named after an award for "stunningly wrong political, social and cultural predictions".

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

    He has appeared in the past on the Fox News for political commentary, especially appearing on The O'Reilly Factor and Hannity. After the 2012 election, Morris did not appear on Fox News for three months, and the network ultimately opted not to renew his contract.


  3. #5083
    Service Manager 10,000+ Posts
    Let the truth be known

    Phil B.'s Avatar
    Join Date
    Jul 2016
    Location
    Raleigh NC
    Posts
    22,656
    Rep Power
    658

    Re: Let the truth be known

    Quote Originally Posted by SalesServiceGuy View Post
    Dick Morris is a 73 year old Republican strategist who was named after an award for "stunningly wrong political, social and cultural predictions".

    Dick Morris - Wikipedia

    He has appeared in the past on the Fox News for political commentary, especially appearing on The O'Reilly Factor and Hannity. After the 2012 election, Morris did not appear on Fox News for three months, and the network ultimately opted not to renew his contract.


    you are correct about the 'vanishing' of Morris. The reason from his own words. .... " I can't abide by their policies and lately their actions to staff/commentators.. they are not Fox News of the past, they are becoming far to liberal for me to continue to be on their shows. "

    He now writes/appears on NewsMax.com

  4. #5084
    Aging Tech 10,000+ Posts
    Let the truth be known

    copier addict's Avatar
    Join Date
    Jul 2013
    Location
    Diamond
    Posts
    11,917
    Rep Power
    322

    Re: Let the truth be known

    Quote Originally Posted by BillyCarpenter View Post
    I've not yet begun to defile myself.
    Haha. That's funny. I mean that. 😂

  5. #5085
    IT Manager 10,000+ Posts bsm2's Avatar
    Join Date
    Feb 2008
    Location
    Biden 2024
    Posts
    25,755
    Rep Power
    333

    Re: Let the truth be known

    Quote Originally Posted by slimslob View Post
    I am wondering,have you actually read the entire 10,000 word article or just the headline. NYT's 10,000-Word Trump Tax 'Expose' Reveals NO Russian Links, NO Illegality, and Admits Left Will Be 'Unfulfilled' By The Report

    As for the tax audit, President Obama could have directed the IRS to complete the audit so the returns could be released.
    No Sir unlike President Trump
    President Obama would NEVER use his office to corrupt another agency

    Nice Spin or BS.

  6. #5086
    Aging Tech 10,000+ Posts
    Let the truth be known

    copier addict's Avatar
    Join Date
    Jul 2013
    Location
    Diamond
    Posts
    11,917
    Rep Power
    322

    Re: Let the truth be known

    Quote Originally Posted by slimslob View Post
    You foreign liberals who refuse to answer simple questions are the ones defiling yourselves. Now stop playing with yourself and start answering the simple questions you are asked.
    You don't seem to know who you are yelling at anymore Slim. 😎

  7. #5087
    IT Manager 10,000+ Posts bsm2's Avatar
    Join Date
    Feb 2008
    Location
    Biden 2024
    Posts
    25,755
    Rep Power
    333

    Re: Let the truth be known


  8. #5088
    Self Employed 1,000+ Posts D_L_P's Avatar
    Join Date
    Oct 2009
    Location
    Canton, Ohio
    Posts
    1,196
    Rep Power
    53

    Re: Let the truth be known

    Quote Originally Posted by slimslob View Post
    I am wondering,have you actually read the entire 10,000 word article or just the headline. NYT's 10,000-Word Trump Tax 'Expose' Reveals NO Russian Links, NO Illegality, and Admits Left Will Be 'Unfulfilled' By The Report

    As for the tax audit, President Obama could have directed the IRS to complete the audit so the returns could be released.
    I read it. Did you?

  9. #5089
    IT Manager 10,000+ Posts bsm2's Avatar
    Join Date
    Feb 2008
    Location
    Biden 2024
    Posts
    25,755
    Rep Power
    333

    Re: Let the truth be known


  10. #5090
    IT Manager 10,000+ Posts bsm2's Avatar
    Join Date
    Feb 2008
    Location
    Biden 2024
    Posts
    25,755
    Rep Power
    333

    Re: Let the truth be known


Tags for this Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Get the Android App
click or scan for the Copytechnet Mobile App

-= -= -= -= -=


IDrive Remote Backup

Lunarpages Internet Solutions

Advertise on Copytechnet

Your Link Here