This latest “bombshell” from the MSM is predictable. Throwing dirt at Trump on the day of the Biden debate was to be expected. Illegally reproducing his tax returns is an extreme move as it’s a federal crime but the Left is desperate. And no one seems to understand that the way property investment is conducted is by debt and debt-financing. The tax is paid when the property is sold. Every equity gain (when the property goes up in value) is used to secure more debt to purchase more property. Debt doesn’t incur tax. Profits do. Legitimate expenses such as depreciation and maintenance can be claimed on your tax return. Rental income is also included. The difference is taxed. Look at this example.
if you buy a property worth $10 million, it depreciates at roughly $370k/year for 27.5 years. Every year the property earns $300k in rental revenue.— Tim Boyd (@tjboyd15) September 28, 2020
Deferred tax asset carry forward= $70k
Tax liability= $0
Not rocket science
The Fake News Media, just like Election time 2016, is bringing up my Taxes & all sorts of other nonsense with illegally obtained information & only bad intent. I paid many millions of dollars in taxes but was entitled, like everyone else, to depreciation & tax credits…..— Donald J. Trump (@realDonaldTrump) September 28, 2020
And who made the tax deferral possible? That’s right a straight Dem vote. The House of Representatives makes tax law. The President follows it.
🔥🔥OH LOOKY…. LOOK WHO CREATED, LOBBIED & VOTED ON THE VERY TAX CODE THAT LIBERALS ARE CRYING ABOUT NOW…— CTruthforTrump (@CTruthforTrump) September 28, 2020
The President, like every other member of Congress & millions of other Americans, took advantage of it!
You guessed it👇 pic.twitter.com/R5bMArHyHB
Meanwhile over at the New York Times, the criminal enterprise that released these federally protected documents, it’s a case of the pot calling the kettle black:
Thread.— Warlord Asshat (@WarlordAsshat) September 28, 2020
So the NYT did a tax hit job on Trump. So I dug into their financials. In 2017, they paid negative income tax. And had a $106 million deferred tax benefit. In 2018 and 2019 they actually started paying income tax. What changed? #TrumpTaxReturns #TrumpTaxes pic.twitter.com/UfwtbIMuri