New York Times reporter Russ Buettner discusses key takeaways after Democrats released some of former President Donald Trump's taxes to the public. #CNN #news
Hear what jumped out to investigative reporter after seeing Trump’s taxes
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What I see is the IRS needs to end and a new system begin. No loopholes for the rich. No tax shelters. No depreciation. No special taxes for businesses. No special taxes for anyone. You pay taxes on what you actually have and what you actually earn. No exceptions whatsoever. Anything short of that is corruption as we can clearly see. It’s clear to see that the tax system is meant to make the rich richer and the poor poorer.
Sounds nice Logan but then you would have to change everything else that is directly linked to allowing these loopholes in the first place. Starting with liberty and justice for all and no man is above the law. If only those could be honored then those loopholes would not exist.
Exactly the rich use our roads to do their business and they don’t want to pay taxes to fix our roads they use to get richer?
…the new system should be that taxes are not forcibly leeched from your weekly paycheck, but paid at the end of the year ~ maybe that will teach our Government to work within their budget and stop spending this country into the ground; there is NO EXCUSE for a -$31 Trillion deficit, especially when 2/3rds of that is entirely unaccounted for.
~ my suggestion: Every America refuse to pay taxes for this year – don’t file, don’t pay a dime – lock up the system until they get TRUMP”S audits done first (give them the free time they obviously need)
flat 10% on all income over $250k, 15% over 350k, 20% over 450k and 25% over half a mill – easy
I totally agree. Get rid of accountants, the FED and the IRS (the IRS is only there to collect money to pay for the interest that the FED charges) and apply a flat tax of 15%, is all that is needed. With NO deductions at all or complicated schedules or formulas. A one page document that anybody or any idiot can complete.
He paid more in Chinese taxes than to our country.
True, in one year at least, but we’ve known that for years. I want to the “charitable donations” looked into. Where are the abortions?
@Douglas Reagan but these ARE a part of his personal returns as he received income and apparent losses as well as his business returns. He himself did NOT pay taxes other than the $750 one year.
@BK70 sure…. Because I literally meant I could hear you. You are a sensitive individual. That’s cool! Take care!
@icin4d yep!
Now that the tax returns are publicly available, perhaps the IRS shortage of auditors can be mitigated by pro bono professional & amateur auditors voluntarily contributing their time.
Biden hired 87,000 new IRS agents. Smart move on his part. Now the audits for the wealthy who cheat can be done.
Let’s release ALL the taxes from ALL our politicians.
@unlisted junk Only numbers.
@axil03 CNN cant get over it. they talk about trump more than fox does. also,this is a cover up story, distracting from the jan 6 hearings where epps actually did orchestrate the riot.
one fascist pig tax cheat at a time
@John Albert the ISSUE is that had he done what’s been the norm for the last 50 years rather than delaying, lying & litigation, he might not actually have had them released to the public. Also that he was not audited as potus which is policy but for some strange reason he wasn’t. We probably need to ask the head of the IRS, the one he appointed.
Ok John but at this moment and regarding THIS story, how do you feel about Chumps tax returns.
All officials and congress members caught cheating with the stock market should have their taxes released too. That paper trail needs to be thoroughly assessed. The IRS needs to be investigated bc im sure the rest of us law abiding citizens are pretty salty with them right now.
I know I am!!
@Gospel of Jesus Christ goddam, give it a rest with your bullsh myths
@BK70 bullsht , holding a top secret clearance or higher , part of obtaining is getting vetted for debts which can influence decisions . So there’s that
you don’t get to change the subject – look at your POS “hero” that’s what this is about, nothing more nothing less
Luckily thanks to President Obama who signed the STOCK Act requiring Congressmen to report trades & specifies what is and isn’t allowed but that is a different story. We are currently discussing Chumps.TAX RETURNS not congressional stock trades.
There shouldn’t be a way to work the “tax” laws.
Time to rewrite the tax laws and just maybe the 1% will actually pay their fair share.
There isn’t a way to work around the laws. What are you talking about?
@Johnf275 flat tax on any income over 250k progressively graduated up to 25% for $500k – NO WRITE OFFS. Fixes it. and NO THEY DON’T pay their fair share
@Tomas Pita In 2019, the bottom 50 percent of taxpayers (taxpayers with AGI below $44,269) earned 11.5 percent of total AGI and paid 3.1 percent ($48.4 billion) of all federal individual income taxes.
The top 1 percent (taxpayers with AGI of $546,434 and above) earned 20.1 percent of total AGI in 2019 and paid 38.8 percent of all federal income taxes.
In 2019, the top 1 percent of taxpayers accounted for more income taxes paid than the bottom 90 percent combined. The top 1 percent of taxpayers paid $612 billion in income taxes while the bottom 90 percent paid $461 billion in income taxes.
How much more should they have to pay?
@Johnf275 Their fair share, that’s what. You are looking at the wrong metrics – look at the cheats like trump. Warren Buffet pays a lower tax rate than his secretary ffs. You will never convince me of your position, been down this road before. The top 1.8% should pay 35% no write offs, no exceptions
@Tomas Pita make it 9%-10% flat tax on all income. That way everyone is equal.
About 20 years ago i got an IRS audit over a $500, FIVE HUNDRED DOLLAR, error i made!!!! Thank god the IRS caught ME! lmao
I’d like to jump in here and add my story. I sent $350 to pay taxes in the 70’s. A few months later I got a refund check from the IRS for $350. NO EXPLANATION. I waited 2 months to cash it thinking it’s gotta be a mistake and they will want it back. 3rd month I cash it. A bit later I get a bill from the IRS for $350. I don’t even try to get an explanation – I send the money.
THEN A MONTH after that I get a bill for $14. FOR INTEREST ON THE 350!!! Really scummy move! Yes I paid it…. wanted them out of my life… until the next April 15th…. you can’t get away 🤢 unless you are Donny with pals on the inside.
@lance fulbright of course he had to pay the lawyer which might be a roadblock for some people.
YOU open a bank account in china where anyone can EFT into and you do not have to report it. Unless someone finds out you have it.
Trump likes to use specific numbers, 11870, 42965….
@Me First are you an accountant or did CNN tell you so??? BAHAHAHAHA
In British, it means buttering his own bread.
It’s more than likely there are 2 sets of books and that profits have been banked offshore.
Oh you freaking know it !!!
@Spring Bloom ooooh… a faithful cult member defending the Führer! Good Job!
The trump organization consists of over 300 offshore shell companies
@John Mcsorley …proof of what ?
…did you self “like” your own post ?
How pathetic….
We go w/ the books which are reported to the IRS.
So it just confirms what we already knew – he’s a crook
No different from the rest of Capitol Hill…Or do you think they’re “honest” politicians?
The evil orange man paid almost $1,800,000 in federal income taxes for the years in question. I willing to bet that’s more than all the democrat’s making nasty remarks here combined. Every time a democrat makes some stupid comment it demonstrates how much they don’t know, how little they know about business. If he commited a tax crime the IRS would have put him in jail. Why don’t all you brain dead democrats get together, buy an old building in New York, tear it down and build a beautiful high rise tower. After you successfully do that we can chat! LGB !!!
@Larry Ross ah well, that’s some mighty wrong assumptions you jumped to there since I’m not a Democrat. Just because he paid *some* taxes doesn’t mean he paid *all* the taxes he should have. As for the IRS, they have done a *mandatory* audit on every POTUS *except* Trump!
even if he stayed within the law (he didn’t I suppose) it DOES prove he’s a leach and a scumbag
Like you said,….we already knew. So do his radical supporters,..but they won’t admit it.
Foreign taxes paid and income are the biggest concern regarding his politics!
Don’t forget classified and top secret documents stolen. Why would he do that?
The evil orange man paid almost $1,800,000 in federal income taxes for the years in question. I willing to bet that’s more than all the democrat’s making nasty remarks here combined. Every time a democrat makes some stupid comment it demonstrates how much they don’t know, how little they know about business. If he commited a tax crime the IRS would have put him in jail. Why don’t all you brain dead democrats get together, buy an old building in New York, tear it down and build a beautiful high rise tower. After you successfully do that we can chat! LGB !!!
@Larry Ross Ya, Trump has always been a fraud Larry.
The real issue is why the IRS is not doing their jobs.
The Head of the IRS UNDER Trump PROFITED off of Trump’s businesses …. Sort of explains ALOT DOSENT IT!
I’m sure Rettig was “told” to leave it alone. He didn’t audit ANY billionaires compared to the Obama years
That is an issue. Not sure if it’s THE issue. There are lots of issues with Chumps returns alone. The Chump appointed IRS head not doing the IRS job is an additional issue.
They do their job on the every day working folks..but not the rich & famous..
@Jesse 100% true.
While his personal and business returns are reprehensible, the influence of foreign banking and businesses while he was president and the time he spent working on them ( while we were paying him to be presidential ) needs to be researched , it feels criminal.
HE FAMILY RAN EVERYTHING WHEN HE WAS PRESIDENT HE SIGN EVERY THING OVER LEGALLY SO THOSE TAX RETURNS SHOULD BE DON JR AND TRUMP PAY VERY GOOD TAX LAWYERS TO DO HIS TAXES HE DOES NOT FILE SHORT FORMS THEY HAVE NOTHING ON HIM
Can you imagine having a President that took NO salary, put ALL American Citizens First, ran the country like a business instead of a party while increasing EVERYBODY’S spendable income and lifestyle, making us energy independent at a cheap price. Also increasingly making the country more safe with a stronger military, bringing back Manufacturing, and increasing the border security on a daily basis. Using his own plane, not taxpayers, which he acquired running his own successful businesses not government grants while providing thousands of American jobs. Playing golf at his own resorts at his own expense with his own money, not taxpayers. And during his FIRST hole at playing golf accomplishes more Making America Great Again then the Democrats have done in the past 100 years. Now go enjoy your trip to the gas station and grocery store this week while you’re paying your utilities. WHILE you’re out there be sure and talk to other American Citizens about how great things are now with Biden and the Democrats.
biden or garland needs to give a directive to immediately hire 10-20 accountants to immediately audit the taxes and resolve the 100 mil discrepancy
No. He needs to face charges for treason.
HA HA HA YOU SO FUNNY
THEY GOT NOTHING FOR LIKE THE 5TH TIME NO RUSSIA RUSSIA NO QUID PRO QUO NO JAN 6 NO NOTHING GIVE IT UP ALL READY THEY BEEN LYING TO YOU LOL
Biden or garland don’t have that authority, but nice try!
No wonder MAGAs were so upset about funding for additional IRS agents. They might have to actually pay the same tax percentage the rest of us do. 😂😂😂
@JoeyJoJoJr0 he is the the president stupid
Failing businesses? No problem, just sell some Top-Secret documents.
DO YOU MEAN LIKE WHAT THE FAKE PRESIDENT OBAMA AND HILLARY CLINTON AND THE DEMONRAT PARTY OF CORRUPT FELONIOUS CRIMINAL TRAITORS HAVE DONE SELLING OUT AMERICA????
I’m the smartest cookie in the jar, I ripped off all the investors in trump resorts, bankrupted 3 casinos when everyone around me was making money then I got $750m in “losses” to carry forward for years and years so I didn’t pay taxes. THEN I lied about donating my salary and kept the last 6 months ($200k) and wrote off all the charitable contributions dollar for dollar so it was really YOU donating money in my name cuz it didn’t cost me a penny while I grifted the trump hotel and secret service for stays at MagaLardo and Scotland – you suckers, I despise you. What was in it for you? Noting
Lol
I used to be an accountant and did taxes. The things DJT did are SO obvious to anyone who knows this stuff as wrong/corrupt. Add in the IRS’s failure to do their jobs, and this country just looks ridiculously immoral.
The key here is, I USED to be an accountant. It takes zero of nothing to become accountant. A 99 cent app replace your career. IRS works for Mr.10% Corporation.
Over thirty years ago I was audited for money from a bonus check that I did not receive due to moving and the secretary who was supposed to mail it to me had died in a car accident. I actually called the company after being notified by the IRS, someone searched the desk and found the check. I had yo pay taxes on that money twice. I paid because I did not want to deal with the IRS again.
Just think it is only 10% Joe Biden received from all of his son Hunter’s deals..This runs into $MILLIONS over many years Joe was a Senator getting $174 K a year and his wife Jill was a school teacher. The question is how did he accumulate so many mansions on that salary when he Taxes show he did not pay the 10%..
well we got 87000+ more IRS agents looking at non-tax lawyer protected small businesses. Thanks biden.
@STIIIZY JONES
Joe Biden did not pay his tax on all of the ten percents running into $Millions over the years he got from Hunter ..Let’s see Joe Biden’s TAXES
CNN “investigative reporter”…lol. Good one.
“chase” more like follow. Ewe Peeple are funny, follow your Judas goat right off the proverbial cliff
His clothing line, shirts, ties, suits are made in other countries. In his interview on David Letterman, online, he’s shown the tags by Dave and doesn’t deny it. He says, ” They gotta work too.” His clothing line is from China, Bangladesh, and Pakistan to name a few. THATS the origin of his foreign funds. It doesn’t do much to make America great again.
@Patrick Kenyon You’re wrong nice try.
@Gary Marino Whiskey
Tango
Foxtrot, over?
@Patrick Kenyon lol
@Patrick Kenyon ummm NO. He actually drove them overseas with his trade war tariffs. 🤪
@Patrick Kenyon what does your factually inaccurate claim have do with Chumps taxes?
The REAL big question about Trump tax returns that needs to be asked is “Did public money pay for the personal Foreign Taxes?”. If he did then he violated the law as the US government does NOT pay foreign taxes.
Donald Trump doesn’t care. He’s been a career criminal all his wretched life. He never follow rules
This has been through the IRS. You don’t think they know all of that? What are you guys phishing for that the IRS hasn’t already approved of??
@Dora Explora You assumed they looked at it, I do not since they would have not had the resources to delve into it (thanks repubs for crippling the IRS). Also ALL new presidents are supposed to be audited and yet dear old Steve Mnunchin did nothing.