How did we create a tax system that let Trump and those like him generate such massive tax credits and such a loose definition of business losses that he could get away with paying practically no US taxes. That he severely bent the rules and that their must have been a certain amount of complicity on the part of the IRS people receiving …
How did we create a tax system that let Trump and those like him generate such massive tax credits and such a loose definition of business losses that he could get away with paying practically no US taxes. That he severely bent the rules and that their must have been a certain amount of complicity on the part of the IRS people receiving his fancyfull tax returns would seem glaringly obvious. That he was allowed to get away with it for at least 18 years when the whole of NY knew that he was an unsuccessfull crook staggers belief. His last ploy to avoid criminal prosecution by hiding beneath the skirts of the Presidential role, while paying the Russian piper, and benefiting from DOJ protection has finally put him under the spotlight and revealed that "the emporer has no clothes" and I cannot say that I am in the least bit surprised.
The NYT journalists have once again done their job well when our legal system has failed us. I love the idea of a new Trump "taxless bankrupt, failed businessman" story coming out in the NYT every day or so alongside the WaPo's ongoing Woodward Tales of "What the President Should Not Have Said!
On the Supreme Court issue, I think that Biden is right firstly delay as much as possible and to go after issues such as abortion and healthcare in the confirmation process of Barrett and not her religious beliefs nor any personal political views that she has expressed. She is an erudite, if young, Ultra-Constitutionalist and will as such look at what the Constitution actually says and thus will require politicians to take their responsabilities with regard to social issue...and indeed all issues...by doing their jobs and passing new laws and/or making new changes to the Constitution. Judges making new laws does not make for a democracy. The people elect politicians to make laws and not the Supreme Court Justices who are named by politicians often in the expectation of political advantage for one side or the other. This, like the horrors of gerrymandering and denial of civic rights etc, must be dealt with by the elected representatives of the people...and they must be held accountable to the people for their acts. I think that, if Trump/McConnell are hoping that Barret will save them from a fate worse than death, they are going to be disappointed.
One of the "norms" on which our tax laws depend is the inherent honesty of the CPAs and accounting firms that prepare them for businesses. Now it is revealed that the gaping holes in these norms allow for those rampantly corrupt to pass through with apparent ease paying little to no taxes. Lest those reading this believe Trump is the only thief in the forest, let me assure you that the corporate woods are full of such bandits. Continuing defunding of the IRA has only made the sheriff's forces stretched them more thinly making it easier for these bandits to continue to rob and pillage. Yes, our tax laws need adjustments and rewriting to eliminate or at least significantly reduce abuses, but just as importantly they need enforcement. Chasing small cheats and abuses is more costly than the revenues it produces and abuse avoided. But the wealthy and large businesses with relatively small tax liabilities need much closer scrutiny and real enforcement and most importantly prosecution. Such prosecutions should result not only in recoveries of taxes but serious criminal sentences/penalities for taxpayers, corporate executives, and their accountants and executives of accounting firms helping to prepare returns and audit such firms.
It is the American taxpayers who are being cheated in the present system. Those paying the bills of those avoiding paying taxes they should legitimately have paid.
And i've worked in the consulting arms of three of the biggest cpa/tax/audit networks in the world. I've seen them at it and getting rich themselves in the process.
We are waiting to hear what our CPA has to say when we try to deduct hair cuts. She has told people that they can forget about her bending the rules for them and find another CPA.
How does this happen? It is the Gold rule - "He who has the gold, makes the rules." This is true for why our tax system is so out of whack and why our justice system is out of whack. This is why a Bernie Madoff gets a similar sentence as a man that held up a 7-Eleven. And, this is why we have such racial bias in the system.
I agree and am enlightened by your comments, Stuart. Also, as Biden is a devout Catholic, too, I would think he would not "go after" her religious beliefs.
I’m Catholic too, and I can tell you People of Praise is a fringe group of well-meaning people who exercise their faith that particular way. There are also “traddies,” who would like us to return to pre-Vatican II ways of worship; those who think if the pope sneezes (JPII worshipers) we should all worry; wealthy and grudge-filled anti-Pope Francis people who despise him because he acts like the humble pastor he is; and single-issue laypeople and bishops who are perfectly willing to overlook Trump’s corruption, faithlessness, disdain for the “least among us” to seek the Holy Grail of overturning Roe v. Wade. In other words, the church is representative of any collection of humans—varied in opinion.
Well said. While RBG was a staunch defender of women and equality on the bench, she was very clear throughout her life that what she wanted and what she was working for was for the LAW of the land to be changed by legislation and hopefully Constutional amendment. Let's hope we can get there with a true Blue Wave. It's past time.
How did we create a tax system that let Trump and those like him generate such massive tax credits and such a loose definition of business losses that he could get away with paying practically no US taxes. That he severely bent the rules and that their must have been a certain amount of complicity on the part of the IRS people receiving his fancyfull tax returns would seem glaringly obvious. That he was allowed to get away with it for at least 18 years when the whole of NY knew that he was an unsuccessfull crook staggers belief. His last ploy to avoid criminal prosecution by hiding beneath the skirts of the Presidential role, while paying the Russian piper, and benefiting from DOJ protection has finally put him under the spotlight and revealed that "the emporer has no clothes" and I cannot say that I am in the least bit surprised.
The NYT journalists have once again done their job well when our legal system has failed us. I love the idea of a new Trump "taxless bankrupt, failed businessman" story coming out in the NYT every day or so alongside the WaPo's ongoing Woodward Tales of "What the President Should Not Have Said!
On the Supreme Court issue, I think that Biden is right firstly delay as much as possible and to go after issues such as abortion and healthcare in the confirmation process of Barrett and not her religious beliefs nor any personal political views that she has expressed. She is an erudite, if young, Ultra-Constitutionalist and will as such look at what the Constitution actually says and thus will require politicians to take their responsabilities with regard to social issue...and indeed all issues...by doing their jobs and passing new laws and/or making new changes to the Constitution. Judges making new laws does not make for a democracy. The people elect politicians to make laws and not the Supreme Court Justices who are named by politicians often in the expectation of political advantage for one side or the other. This, like the horrors of gerrymandering and denial of civic rights etc, must be dealt with by the elected representatives of the people...and they must be held accountable to the people for their acts. I think that, if Trump/McConnell are hoping that Barret will save them from a fate worse than death, they are going to be disappointed.
One of the "norms" on which our tax laws depend is the inherent honesty of the CPAs and accounting firms that prepare them for businesses. Now it is revealed that the gaping holes in these norms allow for those rampantly corrupt to pass through with apparent ease paying little to no taxes. Lest those reading this believe Trump is the only thief in the forest, let me assure you that the corporate woods are full of such bandits. Continuing defunding of the IRA has only made the sheriff's forces stretched them more thinly making it easier for these bandits to continue to rob and pillage. Yes, our tax laws need adjustments and rewriting to eliminate or at least significantly reduce abuses, but just as importantly they need enforcement. Chasing small cheats and abuses is more costly than the revenues it produces and abuse avoided. But the wealthy and large businesses with relatively small tax liabilities need much closer scrutiny and real enforcement and most importantly prosecution. Such prosecutions should result not only in recoveries of taxes but serious criminal sentences/penalities for taxpayers, corporate executives, and their accountants and executives of accounting firms helping to prepare returns and audit such firms.
It is the American taxpayers who are being cheated in the present system. Those paying the bills of those avoiding paying taxes they should legitimately have paid.
Sorry should read defunding of the IRS.
It would be really good if this platform allowed self-edits.
And i've worked in the consulting arms of three of the biggest cpa/tax/audit networks in the world. I've seen them at it and getting rich themselves in the process.
We are waiting to hear what our CPA has to say when we try to deduct hair cuts. She has told people that they can forget about her bending the rules for them and find another CPA.
How does this happen? It is the Gold rule - "He who has the gold, makes the rules." This is true for why our tax system is so out of whack and why our justice system is out of whack. This is why a Bernie Madoff gets a similar sentence as a man that held up a 7-Eleven. And, this is why we have such racial bias in the system.
I agree and am enlightened by your comments, Stuart. Also, as Biden is a devout Catholic, too, I would think he would not "go after" her religious beliefs.
I’m Catholic too, and I can tell you People of Praise is a fringe group of well-meaning people who exercise their faith that particular way. There are also “traddies,” who would like us to return to pre-Vatican II ways of worship; those who think if the pope sneezes (JPII worshipers) we should all worry; wealthy and grudge-filled anti-Pope Francis people who despise him because he acts like the humble pastor he is; and single-issue laypeople and bishops who are perfectly willing to overlook Trump’s corruption, faithlessness, disdain for the “least among us” to seek the Holy Grail of overturning Roe v. Wade. In other words, the church is representative of any collection of humans—varied in opinion.
Ok, since writing this, I think the organization PofP might have some cultish aspects.
Well said. While RBG was a staunch defender of women and equality on the bench, she was very clear throughout her life that what she wanted and what she was working for was for the LAW of the land to be changed by legislation and hopefully Constutional amendment. Let's hope we can get there with a true Blue Wave. It's past time.