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Old December 19th, 2017, 03:44 PM   #1
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Trump’s decision to withhold tax returns obscures how he'll fare under overhaul

"...the bill will “cost me a fortune.”

Sure it will, because you said so.
Trump’s decision to withhold tax returns obscures how he'll fare under overhaul

President Donald Trump has a history of winning bets that the traditional political rules do not apply to him, and his precedent-breaking decision not to release his tax returns is again proving no exception.

As major tax cut legislation barrels toward the Oval Office, the White House on Tuesday again declined to release Trump’s tax returns and defended — without providing any evidence — his assertion that the bill will “cost me a fortune.”

Now he is set to sign a major tax overhaul that could enrich him significantly, without giving the public the means to tell for sure.

Independent analyses have found that the bill, which passed the House on Tuesday afternoon and is expected to pass the Senate Tuesday evening — though procedural hurdles could delay it reaching the president's desk — will provide massive benefits to the ultra-rich, including Trump and his family.

Still, the White House maintains his personal taxes would go up, though press secretary Sarah Huckabee Sanders acknowledged Tuesday that "on the business side" Trump could benefit.

“This actually could impact the president in a large way,” Sanders said when pressed on the matter.
https://www.politico.com/story/2017/...rm-bill-305024
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Old December 19th, 2017, 04:01 PM   #2
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The real estate pass thru alone will benefit him greatly.
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Old December 19th, 2017, 04:14 PM   #3
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His will be the same as others in the same bracket...so, what's wrong with that?
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Old December 19th, 2017, 04:22 PM   #4
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Originally Posted by Camelot View Post
The real estate pass thru alone will benefit him greatly.
It is not a "real estate" pass through. It is a business pass through.


Most businesses in the USA are privately held or in a partnership privately held. This is simply giving a tax break to small businesses.
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Old December 19th, 2017, 04:30 PM   #5
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Originally Posted by justoneman View Post
It is not a "real estate" pass through. It is a business pass through.


Most businesses in the USA are privately held or in a partnership privately held. This is simply giving a tax break to small businesses.
Real estate developers are LLC’s. 20% is less than the regular worker pays. Everyone will want to become a small corporation now. This just opened up a huge can of worms.
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Old December 19th, 2017, 04:34 PM   #6
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Originally Posted by goodpen View Post
His will be the same as others in the same bracket...so, what's wrong with that?
"...the bill will cost me a fortune.”

Do you believe that?
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Old December 19th, 2017, 04:35 PM   #7
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Originally Posted by justoneman View Post
It is not a "real estate" pass through. It is a business pass through.


Most businesses in the USA are privately held or in a partnership privately held. This is simply giving a tax break to small businesses.
"...the bill will cost me a fortune.”

Do you believe that?
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Old December 19th, 2017, 04:40 PM   #8
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Camelot, how is 20% "less than the regular worker pays"?
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Old December 19th, 2017, 04:44 PM   #9
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Real estate developers are LLC’s. 20% is less than the regular worker pays. Everyone will want to become a small corporation now. This just opened up a huge can of worms.
Most businesses in the USA are paying taxes on pass through income. You are confused.
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Old December 19th, 2017, 04:45 PM   #10
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Most businesses in the USA are paying taxes on pass through income. You are confused.
Slip sliding away from:

Trump’s decision to withhold tax returns obscures how he'll fare under overhaul
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