Can someone suggest a website that shows an accurate, unbiased electoral vote count and the current status of each state's vote count and % counted?
Thanks.
Found this on Reddit and thought it was an excellent explanation:
https://www.reddit.com/r/FunnyandSad/comments/j1bojm/trumps_taxes_vs_our_taxes
This tax story (and it is a story) is so wrong it's actually sad. The parts that actually explained everything were glossed over by people with little to no reading comprehension and or care to actually read the entire article. Also I'm not surprised but most people didn't even understand how the breakdown of his taxes actually worked. So I'll break out down for everyone.
Source: https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html
- Did Trump only pay $750 in taxes Answer: No
"For 2005 through 2007, cash from licensing deals and endorsements filled Mr. Trump’s bank accounts with $120 million in pure profit. With no prior-year losses left to reduce his taxable income, he paid substantial federal income taxes for the first time in his life: a total of $70.1 million."
"Mr. Trump was periodically required to pay a parallel income tax called the alternative minimum tax, created as a tripwire to prevent wealthy people from using huge deductions, including business losses, to entirely wipe out their tax liabilities. Mr. Trump paid alternative minimum tax in seven years between 2000 and 2017 — a total of $24.3 million, excluding refunds he received after filing. For 2015, he paid $641,931, his first payment of any federal income tax since 2010"
"Each time, he requested an extension to file his 1040; and each time, he made the required payment to the I.R.S. for income taxes he might owe — $1 million for 2016 and $4.2 million for 2017. But virtually all of that liability was washed away when he eventually filed, and most of the payments were rolled forward to cover potential taxes in future years." (Side note this shows he actually over paid for taxes for 2016 and 2017)
Ok so if your still with me let add up the total
2005-2007 $70.1 million Alternative minimum tax 2000-2017 $24.3 million 2015- income tax $641,931 2016 - income tax $1 million 2017 - income tax $4.2 million
Total Over 100 million in taxes paid
Ok what about the refunds you say
"To cancel out the tax bills, Mr. Trump made use of $9.7 million in business investment credits, at least some of which related to his renovation of the Old Post Office hotel, which qualified for a historic-preservation tax break. Although he had more than enough credits to owe no taxes at all, his accountants appear to have carved out an allowance for a small tax liability for both 2016 and 2017."
"His total federal income tax refund would eventually grow to $70.1 million, plus $2,733,184 in interest. He also received $21.2 million in state and local refunds, which often piggyback on federal filings."
Total tax credits:
$70.4 + $21.2 = $91.6 million
Total paid
$100million (approx it's a little more but I'm making this easy for everyone)
• $91.6 million
Total paid over the years:
$8.4 million
So no Trump did not pay $750 dollars
Where did that line come from?
If you remember earlier I said how he over laid in 2016 and 2017 for his taxes well the money that rolled over allowed a $750 tax payment
"Although he had more than enough credits to owe no taxes at all, his accountants appear to have carved out an allowance for a small tax liability for both 2016 and 2017. When they got to line 56, the one for income taxes due, the amount was the same each year: $750."
He had put enough aside in extra taxes to never pay taxes for the next few years however for an unknown reason decided to pay $750.
- Is Donald Trump Broke? Answer: it's complicated Yes but actually no
"The Turkish businessman helped negotiate a licensing deal in 2008 for his family’s company to develop two Trump towers in Istanbul. The tax records show the deal has earned Mr. Trump at least $13 million — far more than previously known — including more than $1 million since he entered the White House, even as his onetime associate now lobbies on behalf of Turkish interests."
"At the hotel, the monthly receipts grew from $3.7 million in December 2016 shortly after it opened, to $5.4 million in January 2017 and $6 million by May 2018. At Doral, after Mr. Trump declared his candidacy in June 2015, credit card revenue more than doubled, to $13 million, for the three months through August, compared with the same period the year before."
"One Trump enterprise that has been regularly profitable, and is a persistent source of concern about ethical conflicts and national security lapses, is the Mar-a-Lago club. Profits there rose sharply after Mr. Trump declared his candidacy, as courtiers eagerly joining up brought a tenfold rise in cash from initiation fees — from $664,000 in 2014 to just under $6 million in 2016, even before Mr. Trump doubled the cost of initiation in January 2017. The membership rush allowed the president to take $26 million out of the business from 2015 through 2018, nearly triple the rate at which he had paid himself in the prior two years."
"At Doral, Mr. Trump collected a total of at least $7 million in 2015 and 2016 from Bank of America, and at least $1.2 million in 2017 and 2018 from a trade association representing food retailers and wholesalers. The U.S. Chamber of Commerce paid Doral at least $406,599 in 2018."
"At the hotel, the monthly receipts grew from $3.7 million in December 2016 shortly after it opened, to $5.4 million in January 2017 and $6 million by May 2018. At Doral, after Mr. Trump declared his candidacy in June 2015, credit card revenue more than doubled, to $13 million, for the three months through August, compared with the same period the year before."
"Rental income over all at 40 Wall has risen markedly, from $30.5 million in 2014 to $43.2 million in 2018. The tax records show that the cost of existing leases there has risen, and at least four law firms appear to have moved in since Mr. Trump ran for president."
"Trump’s Vornado partnerships, according to his tax records, were $5.8 million from Goldman Sachs; $3.1 million from Microsoft; $32.7 million from Neuberger Berman, an investment management company; and $8.8 million from the law firm Kirkland & Ellis."
"This time around, he is personally responsible for loans and other debts totaling $421 million, with most of it coming due within four years. Should he win re-election, his lenders could be placed in the unprecedented position of weighing whether to foreclose on a sitting president."
Money made since 2014: Approximately $424 million adding up all the above
• Debt ($421 million)
Total: $3 million
Is he rich yes is he filthy rich no*
*(side note he will be once he is saddled with the debt)
How does that work well the NY times explains it clearly
"There is, however, a tax benefit for Mr. Trump. While business owners can use losses to avoid taxes, they can do so only up to the amount invested in the business. But by taking personal responsibility for that $421 million in debt, Mr. Trump would be able to declare that amount in losses in future years. "
So he not only makes almost the exact amount he is in debt for he will then turn around and double it by declaring that he actually lost that money and only made $3 million and will walk away with a cool $845 million dollars (minus the taxes on the $3 million he "made")
- Is he in debt to the Russians?
Answer No he has no connection not previously reported that would prove that his debt is controlled by the Russians
"Nor do they reveal any previously unreported connections to Russia"