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Kushner Likely Paid No Federal Income Taxes for Years Documents Show

Discussion in 'Political Debate & Discussion' started by FollowTheWay, Oct 13, 2018.

  1. InTheLight

    InTheLight Well-Known Member
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    I am part owner of three oil wells. For five years I was allowed to depreciate the cost of the ownership/royalty agreement on my personal tax return, which lowered my personal tax liability. For this agreement I was a non-corporate taxpayer.

    (It could be that the 2017 Republican tax bill removed this ability, but I was able to do it in the early 2000's.)



    Sent from my Nexus 7 using Tapatalk
     
  2. FollowTheWay

    FollowTheWay Well-Known Member
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    I mean the top o.1% who own as much wealth as the bottom 90% in America. That money never has and never will "trickle down" to the rest of us. Reaganomics was a complete failure.
     
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  3. FollowTheWay

    FollowTheWay Well-Known Member
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    Why? I was on the mark.
     
  4. FollowTheWay

    FollowTheWay Well-Known Member
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    Sorry. Missed it.
     
  5. FollowTheWay

    FollowTheWay Well-Known Member
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    "Entrepreneurship" is not a term to describe the companies owned my Kushner or Trump. They have no new ideas, have produced no products, have cheated contractors who worked for them and made money off the U.S. tax code by posting losses and declaring bankruptcy. Apple, Microsoft and Google were started by true entrepreneurs. These guys are parasites.
     
  6. Rob_BW

    Rob_BW Well-Known Member
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    Then what tax code reg prevents people from claiming losses against borrowed money?

    If I take out a loan against a tractor for the farm, who says I can't capitalize it over the next five years?
     
  7. FollowTheWay

    FollowTheWay Well-Known Member
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    I don't know. Tell me.
     
  8. Rob_BW

    Rob_BW Well-Known Member
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    Are you admitting to blatant slander? Or will you be claiming that you only quoted slander?

     
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  9. Salty

    Salty 20,000 Posts Club
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    Then what are they doing with their money?
     
  10. Salty

    Salty 20,000 Posts Club
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    OH -- for one thing they give to charity! Billions of dollars have been supporting charities for many years.
    In addition - the foundation employs more than 1500 employees.
     
  11. Salty

    Salty 20,000 Posts Club
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    and in addition - they pay a lot in local property tax.
     
  12. FollowTheWay

    FollowTheWay Well-Known Member
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    I have no idea what you're talking about.
     
  13. Rob_BW

    Rob_BW Well-Known Member
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    The way you & the article you quoted throw out a dubious "fact," and how when asked for proof you have nothing. That's what I'm talking about.

    The article does it because it is a hit piece. It's not concerned with truth, just with generating some negative publicity til the next news cycle.
     
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  14. Wingman68

    Wingman68 Well-Known Member
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    Also in the tax code.....’Earned Income Tax Credit’

    This is where you get a substantial tax return of money you never paid in. Where’s the outrage?
     
  15. Salty

    Salty 20,000 Posts Club
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    So as far as the super rich - what do they do with their money.

    1) Spend it - which means jobs and income for many people
    2) Put it the bank - which allows the bank to make loans to a sole prop, partnership, or even a large business
    3) Give it to charities which help many others.
    4) They invest it in a business - which in turn provides jobs and helps the local economy.


    Have you seen the TV show, "Shark Tank"? When a deal is made - it comes from the Businesman that accpeted.
    The TV network does not pay the Shark any money.

    Sure these individuals are very rich - but when they decide to invest - they check out ever thing -
     
  16. FollowTheWay

    FollowTheWay Well-Known Member
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    But Trump's people claim there are no more facts.
     
  17. Reynolds

    Reynolds Well-Known Member
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    I don't really understand depreciation, but it saves me a ton every year.
     
  18. Reynolds

    Reynolds Well-Known Member
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    I don't really understand depreciation, but it saves me a ton every year. I understand the concept, but when the CPA hands me the numbers, it makes no sense.
     
    #58 Reynolds, Oct 17, 2018
    Last edited: Oct 17, 2018
  19. Rob_BW

    Rob_BW Well-Known Member
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    I thought you held yourself to a higher standard?
     
  20. FollowTheWay

    FollowTheWay Well-Known Member
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    Controlling America and the world. They are the deep state.
     
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