There are only two possibilities: It’s full-on fraud, or Top Don’t California My Texas Star Election Shirt he’s the most incompetent moronic ‘businessman’ in history. If only he hadn’t fisted them into a giant prolapse. If only there was a tax system overhaul in 2017 that could have closed some. None of this is a surprise, yet it’s still appalling. I paid more income tax when I was working minimum wage than this Billionaire President did. I think there is something wrong with that. It sounds like you don’t like freedom. Trump’s tax returns highlight a very broken fact about our tax code. What Trump did in this scenario might be completely or partially legal due to loss carryover. The way loss carryover works are.
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If you have a net loss of say 10M dollars in a given year, you’re allowed to Top Don’t California My Texas Star Election Shirts either report the entire loss that year or divide that loss up to 10 years. So for instance, 3 years after you have that 10M loss, you could have a net income of $900,000 and also avoid paying most if not all taxes on it by carrying forward 1M of that 10M loss from three years ago, therefore legally reporting a 100,000 loss. Loopholes like this are what allow literal billionaires only to pay a few hundred dollars in taxes per year. The United States badly needs tax reform otherwise this sort of thing will keep happening.
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