A funny thing happened on the New York Times’ way to gut Donald Trump before the election using illegally leaked tax returns of our indefatigable President. Not only did the Times dig up nothing that contradicted what was already known, and much admitted to by Trump, it uncovered one of the big financial gifts President Obama and House and Senate Democrats gave to the wealthy classes inside the giant “stimulus” bill signed by Obama at the outset of his presidency.
All the Times was left with was argument that Trump seems to have paid only an “average of $1.4 million” in federal income taxes annually from 2000 to 2017 while other wealthy paid much more. But the Times itself points out that Trump had pad much more, $95 million in income taxes, before he got the big refunds that totaled more than $70 million.
It turns out, even according to the liberals at the New York Times, that Trump’s big refund was paid because a part of the Obama and Congressional Democrat stimulus bill created a way for some wealthy to “request full refunds of taxes paid in the prior four years, and 50 percent of those from the year before that.[1]”
That little change from being able to apply losses from the previous two years to current tax liabilities to four years, and half for a fifth historical year, allowed for some really big tax refunds.
Democrats intended this tax break to be taken so it is a bit disingenuous for them to harp on Trump, a non politician at the time, for accepting the gift.
Have you been wondering how Democrats keep becoming more and more the party of the very wealthy – so much so that many of those people will ignore the overall anti-wealth generation policies of that party?
Think about that key tax provision put into Obama’s so-called “stimulus” bill.
Trump’s leaked tax returns show how Democrats quietly buy the wealthy vote
All the Times was left with was argument that Trump seems to have paid only an “average of $1.4 million” in federal income taxes annually from 2000 to 2017 while other wealthy paid much more. But the Times itself points out that Trump had pad much more, $95 million in income taxes, before he got the big refunds that totaled more than $70 million.
It turns out, even according to the liberals at the New York Times, that Trump’s big refund was paid because a part of the Obama and Congressional Democrat stimulus bill created a way for some wealthy to “request full refunds of taxes paid in the prior four years, and 50 percent of those from the year before that.[1]”
That little change from being able to apply losses from the previous two years to current tax liabilities to four years, and half for a fifth historical year, allowed for some really big tax refunds.
Democrats intended this tax break to be taken so it is a bit disingenuous for them to harp on Trump, a non politician at the time, for accepting the gift.
Have you been wondering how Democrats keep becoming more and more the party of the very wealthy – so much so that many of those people will ignore the overall anti-wealth generation policies of that party?
Think about that key tax provision put into Obama’s so-called “stimulus” bill.