Tag: income taxes
5 Ways Trump Is A Living Parody Of Conservative Beliefs

5 Ways Trump Is A Living Parody Of Conservative Beliefs

Who shows up at the opening of a nursery school opened to care for AIDS patients, demands to speak as if he were an honored guest, and then leaves without ever offering a donation?

The man who would eventually become the current Republican nominee for president.

That’s the stunning opening ancedote of a new blockbuster account of Donald Trump’s charitable giving by The Washington Post‘s David A. Fahrenthold.

Fahrenthold first got on the Trump charity beat to investigate a “veterans’ charity” event Trump conjured as a diversion when he decided to skip a Republican debate to protest Fox News’ Megyn Kelly, who attempted to point out that his foul treatment of women might become an issue in the campaign. The Post reporter wondered what had happened to the “millions” promised to vets, including a million pledged by Trump himself. The money finally showed up — but only four months later, after a story in the Post questioned the donation.

Since then, Fahrenthold has used Twitter as his notebook and ally in his effort to document the “tens of millions” the Trump campaign claims its candidate has given to charity. Our David Cay Johnston pointed out over a year ago that Trump hadn’t given to his own charity in a decade. And in months of digging, Fahrenthold found that the largest gift the Donald J. Trump Foundation had given was $264,631 to renovate a fountain outside Trump’s Plaza Hotel.

Along the way, the now-star reporter also was the first to report on the Access Hollywood tape that revealed Trump bragging about sexual assault. But Fahrenthold’s look into Trump’s attempts to present himself as a generous man are invaluable, because he has revealed a hollow man who has come to represent the Republican Party —  the epitome of the sort of unchecked greed and exploitation the conservative movement was built to enable.

With charity for none and malice toward all, Trump exemplifies the perfidy of Republican policies in these five special ways:

  1. He pays no taxes.
    In the first debate, Donald Trump said it was smart not to pay taxes — seeming to contradict Mitt Romney’s point in the famed “47 percent” tape. In the next debate, Trump seemed to confirm a New York Times story suggesting that he hadn’t paid taxes for 18 years. In those nearly two decades, he declared bankruptcy over and over and took millions out of Atlantic City while leaving his workers and the town to rot. Meanwhile, Republicans were so concerned about the plight of the rich that they donated much of the budget surplus from the late 90s to making them richer with tax breaks that helped create the worst inequality between the rich and poor in America since before the Great Depression.
  2. He still seems to give almost nothing to charity.
    Get rid of high taxes and you won’t need a safety net! The rich will rush in to help the poor. Or so conservative theory tells us. Except that Donald Trump seems to have nearly erased his entire tax burden and then responded by creating a foundation that gets other people to help him pay for things —  like $7.00 for his son’s Boy Scout dues.
  3. He outsources almost anything he can and uses non-citizen labor while stoking fear of minorities.
    Trump’s protectionism is supposed to be a break from conservative orthodoxy, but his own business practices show him be a perfect example of why American workers are suffering. He seems to outsource anything he can put his name on; he used undocumented workers to build Trump Tower; and right now he’s employing non-citizens over citizens at his Mar-a-Lago resort. His excuse? “You shouldn’t let me do it.” He claims he will make the best trade deals that will stop robber barons like him from robbing. Meanwhile, he wants to roll back the Wall Street reforms designed to prevent the sort of crash that cost us eight million jobs after 2008. Yes, trade can hurt workers, but nothing has cost America more than unchecked greed. And Trump is promising to uncheck it. Before his advisers warned him off, he insisted that wages are too high. And in Michigan last year he revealed his real plan: outsourcing within the United States. Shipping good union jobs to states where they workers will earn a pittance for the same work. That makes him an old-fashioned, anti-labor conservative. As does his stoking of ancient hatreds against minorities and foreigners to distract from the war on the middle class — waged by men just like him. It’s classic “dog whistle” politics from a man whose businesses have been accused of racial discrimination over and over. Only now, it’s so obvious that it has sparked the rise of bald-faced white racism like America hasn’t seen in generations.
  4. He claims to be the world’s biggest hawk, yet avoided the draft and lies about his record of backing wars.
    This is Trump’s military record: He avoided the draft five times. He backed the Iraq War, the intervention in Libya, and the bombing of Syria. Now he claims to have been against all three and yet is the “most militaristic person” who “knows more than the generals.” This is a man who recognizes that Republican adventurism overseas now repulses Americans, but can’t help revealing his belligerence by calling for the bombing of civillians, torture, and stealing Iraq’s oil — all war crimes. He proposes weakening NATO,  wants to be friendlier with Russia (which has enabled the worst massacre of this century in Syria), and threatens the nuclear deal with Iran. He’s proposing a world where despotism reigns and American and Western European leadership retreats, recognizing that the American people are sick of our endless engagement in undeclared wars throughout the Middle East. But who knows what he’s really proposing when he contradicts himself constantly and seems only interested in building himself up and nurturing those who flatter him? Maybe that’s why prominent national security experts in his own party say they don’t trust him with nuclear codes, although he has the qualified support of Dick Cheney.
  5. The only traditional value he believes in is controlling women’s bodies.
    Republicans have long made a mockery of their crusade for “traditional marriage” with champions like the Newt Gingrich and Rush Limbaugh, who have been married seven times between them (but never to each other). Trump takes the GOP’s disrespect for personal values and the dignity of women to another level. It isn’t just that he appeared on the cover of Playboy, brags about his adultery and conquests, and made a career of marketing women for their looks. He has no history of religious conviction or moral compunction or respect for the “sanctity” of marriage. So his vows to embrace the far right agenda of ending Roe, defunding Planned Parenthood, and outlawing same-sex marriage expose a man who is willing to surrender to any position in order to gain power. But it’s even worse than that. His bragging about sexual assault on that Access Hollywood tape and the subsequent accusations of assault from a dozen women reveal a man who believes he has the right to control any woman’s body. Now he is united with the conservative movement in the effort to make this principle, which is at the core of the anti-choice agenda, the law of the land.
Legal Experts: “Fiduciary Responsibility” No Excuse For Tax Avoidance

Legal Experts: “Fiduciary Responsibility” No Excuse For Tax Avoidance

After The New York Times published tax documents from 1995 revealing that Republican presidential nominee Donald Trump lost nearly a billion dollars and could as a result have avoided paying any federal income tax for “up to 18 years,” Trump and his campaign surrogates have claimed he had a “fiduciary responsibility” to reducehis personal tax liability to the smallest amount possible under law. Veteran tax law experts tell Media Mattersthis explanation is “silly,” “complete nonsense,” and “almost incomprehensibly incoherent.”

In a front page Sunday article, the Times reported, “The 1995 tax records, never before disclosed, reveal the extraordinary tax benefits that Mr. Trump, the Republican presidential nominee, derived from the financial wreckage he left behind in the early 1990s through mismanagement of three Atlantic City casinos, his ill-fated foray into the airline business and his ill-timed purchase of the Plaza Hotel in Manhattan.”

The Trump campaign issued a statement in response that said, among other things, that Trump “has a fiduciary responsibility to his business, his family and his employees to pay no more tax than legally required.” Leading campaign surrogates including former New York City Mayor Rudy Giuliani have made similar claims during media appearances. Giuliani told CNN, “If you have a set of laws, you live by those laws. And the reality is, you are ignoring completely the fiduciary obligation he has to all the people around him to run his business at the lowest possible expense.”

But respected tax attorneys and others who teach tax law said this defense doesn’t pass the smell test.

“That’s nonsense,” said Rutherford B. Campbell, a corporate law professor at the University of Kentucky College of Law. “He has a fiduciary responsibility to reduce the corporation’s tax liability. … The notion that somehow he owes an obligation to the corporation to reduce his own taxes doesn’t make sense.”

Jeff Scroggin, a tax attorney with Scroggin & Co., P.C., of Roswell, GA, agreed.

“I don’t see that as a legitimate argument,” said Scroggin. “The only way I can see that argument working is to say he is going to take the dollars he saves and invest them back in the business and I doubt seriously he is doing that. I doubt seriously anyone is expecting him to do that, take the savings and put them back in the business.”

He later added, “If you lose a billion dollars can you really be a successful businessman? It has to raise questions about the viability of what he’s been doing over those years.”

Martin McMahon, co-author of law school textbook Federal Income Taxation of Individuals, said having the responsibility to pay as little corporate taxes as possible does not extend to personal taxes.

“I’ve never heard of any legal principle that the owner of a business has an obligation to the employees of the business or the directors to minimize the owner’s personal tax liability,” McMahon said, calling it, “complete nonsense, there is absolutely no legal principle to support that.”

Edward Kleinbard, a tax law professor at the University of Southern California Gould School of Law, echoed that view.

“He owes no fiduciary duty to anyone else not to pay personal income tax. It is an almost incomprehensibly incoherent argument,” Kleinbard said via email. “No, it’s just plain silly. No one is under a fiduciary duty to lose nearly $1 billion of other people’s money. He made very bad investment decisions, he skirted with bankruptcy, his lenders forced him to unload several of his properties at pennies on the dollar, and as a result he claimed a $900+ million tax loss attributable to losing his lenders’ money. What’s hard about that?”

Roberton Williams, a senior fellow at The Tax Policy Center, a joint venture of the Urban Institute and the Brookings Institution, called Trump’s claim “kind of odd.”

“It is his own tax return, he is the one who personally benefits from it,” Williams said. “He has this other income that normally people would have to pay tax on.”

Reprinted with permission from Media Matters For America.

IMAGE: Republican presidential nominee Donald Trump walks off his plane.  REUTERS/Mike Segar

 

 

 

 

Poll: Paying No Income Taxes Is ‘Selfish’ And ‘Unpatriotic’ But ‘Smart’

Poll: Paying No Income Taxes Is ‘Selfish’ And ‘Unpatriotic’ But ‘Smart’

By Chris Kahn

NEW YORK (Reuters) – Republican presidential nominee Donald Trump says paying no income tax would make him “smart.” While nearly half of Americans agree with him, more people think it is “selfish,” and “unpatriotic,” according to a Reuters/Ipsos opinion poll released on Tuesday.

Some 67 percent of Americans said it is “selfish” for a presidential candidate to pay no taxes, while 61 percent said it is “unpatriotic,” according to the poll, which allowed respondents to pick more than one adjective to describe paying no taxes.

At the same time, the results showed some respect for a candidate who can figure out how to reduce their tax bill. Some 46 percent of Americans, including 35 percent of Democrats and 62 percent of Republicans, thought a presidential candidate who pays no taxes is “smart.”

Trump’s taxes have become a big campaign issue after the New York Times released a portion of his 1995 tax returns last week and estimated that Trump likely paid no taxes for a number of years. The celebrity real estate developer, who is the first presidential candidate in decades to refuse to release his full tax returns, didn’t deny the report. He later said that he had “brilliantly used” U.S. tax rules to his advantage.

During the first presidential debate with his rival Democrat Hillary Clinton last month, Trump responded to Clinton’s allegation that he paid no federal taxes by saying that would make him “smart.”

“What is he trying to say: that those of us who pay taxes aren’t intelligent?” said poll respondent Yonna McNerney, 41, of Denver. “I started working at the age of 16, and I’ve always paid taxes,” she said. “Not paying taxes, I don’t think that’s acceptable.”

McNerney, a mother of three who works at a telecommunications company, remains uncommitted in the race and said Trump’s comments about taxes haven’t changed her mind one way or the other.

April St. Aoro, 46, who works for a manufacturing firm near St. Cloud, Minnesota, was more understanding of Trump’s point of view, though she also remains undecided in the race.

“I think all of us are trying to pay as little taxes as possible,” St. Aoro said.

Respondents were slightly less critical when asked to describe a private citizen paying no taxes.

Some 64 percent agreed it was “selfish,” while just over half agreed it was “unpatriotic.” Some 50 percent, including 37 percent of Democrats and 67 percent of Republicans, agreed that it was “smart.”

The Reuters/Ipsos poll was conducted online in English in all 50 states. Respondents were asked what they thought of “a private citizen who has found a way to pay no income taxes,” and given the choice to agree or disagree to the words “smart,” “selfish,” and “unpatriotic.”

They were then asked the same set of questions about a presidential candidate.

The Sept. 28-Oct. 3 poll was part of a larger national tracking poll that tracks public opinion every day. It included 1,948 American adults, including 893 Democrats and 635 Republicans. It has a credibility interval, a measure of accuracy, of 3 percentage points for the entire sample, 4 percentage points for Democrats only and 5 percentage points for Republicans.