Guest Post by Joe Messina
We’ve got ‘em! Democrats are like a new puppy peeing all over themselves when you first bring it home! They are all excited that Mr. Trump used his knowledge of the broken tax system to take LEGAL advantage of the tax code for his business. He claimed he lost over $900 million in 1995. The dictionary defines “fantasy” as:
“a place that is unreal or imaginary or that excites wonder”
It’s a wonder alright. It’s a wonder that the Hard Left gives a pass to ALL the illegal activities of their electeds and leaders. Rev. Al Sharpton owes millions in back taxes but is still out of prison. George Soros owes over $7 billion. No noise about that! And let’s not forget former Treasury Secretary Tim Geitner. Oh, and Congressman Charles Rangel (D) (he belonged to the committee that WROTE tax laws), Democrat Senator Claire McCaskill one of the richest members of Congress. Then there is, Tom Daschle, the Dems choice for HHS Secretary who had to drop out when the media, not the mainstream media, pointed out he didn’t, and wouldn’t, pay the taxes he owed.
Over 40 Obama staffers owe close to $1 million in back taxes.
Now before you start sending me the names of Republicans who owe taxes, save the brain cells. Note that I didn’t say ONLY Dems owed taxes or that only Dems are tax cheats. BUT, I am dealing with the drooling bunch of Dems who are loving that fact that Trump lost money in 1995.
So let’s return from Fantasy Land back to the U.S. Many, many, many businesses show a loss when reporting revenue because they write off every legally allowed deduction that both Democrats and Republicans have voted for. Even when the Dems had control of ALL 3 BRANCHES of the Federal government, they didn’t fix ANY of the tax code. So when they keep saying “we need to close the loopholes” I say BS… They could have done it and chose not to.
And let’s make a distinction here… The Dems mentioned above chose NOT to pay what they owed and even failed to report items they were supposed to disclose. Mr. Trump declared all and took the proper legal deductions. BIG difference!
Every small business in this country who has any CPA worth their money takes every legal deduction available. Are they also guilty of “whatever” Trump is being accused of by claiming a loss and legally not paying taxes?
The Clintons have released their tax returns. “Isn’t that special?” Do you think they too avoided paying the MUCH HIGHER taxes that they keep asking the 1% to pay more of by using LEGAL tax codes? Of course they did!
ALSO note that since the Clinton Foundation is a non-profit, they pay ZERO taxes. They pay over 80% in payroll, over 15% in office expenses, and what little is left over makes it to those in need… sometimes.
All this is within the guidelines of the Tax Laws of these Unites States.
No complaints from the Left. Not a word!
With the way the tax laws are written, Trump could have legally NOT paid taxes for the next 18 years according to many tax experts. There is no proof whether took advantage of that or not, yet!
But according to the Wall Street Journal (WSJ) the Clintons get a pass. Her highness, Hillary, and her husband King “DropTrou” admitted back in 1996 that they shortchanged the U.S. Treasury on at least five of the federal income tax returns that they filed during his tenure as governor of Arkansas. Among other things, they understated their capital gains, failed to report a commodity trading profit, and took many improper deductions for interest payments that were actually made by other taxpayers.
To this day they won’t acknowledge a much more “in your face” issue with the first Form 1040 they sent to the IRS after arriving in the White House failed to disclose a taxable $58,000 economic benefit that they received as the result of a 1992 (scandal) agreement that released them from a Whitewater-related debt.
They deliberately lied to the IRS and according to the American Crossroads web site:
“for three years in a row beginning in 2010, the Clinton Foundation reported to the IRS that it received zero in funds from foreign and U.S. governments, a dramatic fall-off from the tens of millions of dollars in foreign government contributions reported in preceding years.
Those entries were errors, according to the foundation: several foreign governments continued to give tens of millions of dollars toward the foundation’s work on climate change and economic development through this three-year period. Those governments were identified on the foundation’s annually updated donor list, along with broad indications of how much each had cumulatively given since they began donating.”
Nothing to see here, so move along. Right? Wrong!
And let’s go over a few more of the Clintons’ IRS issues, just to hammer it home. According to AmericaRisingPAC:
2014: “The Clintons have shielded their wealth from the estate tax by splitting the ownership of their New York mansion into separate trusts, which allows the home’s appreciation to happen outside the Clintons’ taxable estate, saving them hundreds of thousands of dollars on their taxes.” Hmm… would anyone else call that taking advantage of a tax “loophole”?
2008: After Hillary Clinton finally released her tax returns, a $24 million discrepancy was discovered in the Clintons’ income reported on then-Sen. Clinton’s personal financial disclosures and the income reported on the couple’s income tax returns.” Oops! Was that just a minor miscalculation?
1994: “The Clintons paid $14,615 in back taxes some 14 years after they failed to report profits from Hillary Clinton’s commodities trading.” Trading fraud. Failure to report. No penalties or interest? SURE, there’s no special treatment there!
Trump took advantage of tax programs legally available to business owners, BUT did not take advantage of his legal right not to pay taxes for 18 years (carrying the loss forward).
The Clintons never-ending trail of deceit, contempt, cheating, and lying to do anything they please, not reporting personal income, fudging the numbers, not reporting Clinton Foundation income, fudging the numbers, in other words, breaking and ignoring the law to benefit themselves.
If you still can’t see the difference, put down the crack pipe and seek help!
Joe Messina’s radio show The Real Side can be heard daily across the airwaves and over the internet on several stations. He has loyal listeners in 42 states and 38 countries, and the list keeps growing (you can listen live M-F between 9PM and 12AM Eastern by Clicking Here). Joe also runs The Real Side website where you can read conservative commentary from him and his engaging contributors.