Hillary Clinton would like to make the issue of Trump’s taxes a central line of attack, but she’s relying on the average voters ignorance of tax laws to make that case.
Trump hasn’t released his recent tax records, which had Hillary speculating at the first debate that it’s because Trump isn’t paying any Federal income taxes. Days later, the New York Times leaked Trump’s 1995 return in what was a bombshell for anyone who didn’t understand the tax code. What it showed was that Trump lost roughly $900 million that year, which he could use to write-off against future income.
People think that the writeoff he’s granted as a result of this counts as tax evasion, but it’s really just common sense. Suppose you’re an investor. You lose $1 million in your first year, then gain $1 million in your second year. How much money did you earn? Zero dollars – and the fact that the loss of $1 million can be written off against future income ensures that you only pay tax on what you actually earned on net balance (nothing).
Does that seem controversial to you, or just plain common sense? If you can find me someone who wouldn’t take advantage of that tax break, I’d be shocked. Even Hillary wroteoff 700k in capitol losses against her taxes – as have the New York Times. EVERYONE does it.
If there’s really a tax controversy here, it’s among Hillary and her donors. As the Conservative Tribune reported:
A report published this week by several watchdog groups revealed Apple Inc. to be the biggest tax avoider in the United States, with the company having stashed at least $214 billion in offshore accounts during 2015 alone.
Available for review at the Web site for Citizens for Tax Justice, the report also made it abundantly clear that Democrat presidential nominee Hillary Rodham Clinton was a hypocrite.
Why? Because Apple CEO Tim Cook happened to be one of her top donors. In August, for instance, he hosted a $50,000-a-ticket fundraiser for her, according to The Daily Caller.
As companies that liberals hate, like oil companies, Walmart, and the like earn margins of pennies on the dollar, Apple routinely shows gross margins of 40%.
Think Hillary would ever call out Apple for tax evasion? The only way I could see this happening is if they decided to shift their funding towards Trump instead.