I also love when billionaires pay less in taxes than I do. I love it even more when that billionaire is also overseeing tax cuts for those same billionaires.
He is personally responsible for loans and other debts totaling $421 million, with most of it coming due within four years. Should he win, his lenders could be placed in the unprecedented position of whether to foreclose on a sitting president.
If you don’t have any income in a particular year, how much would you be expected to pay in income taxes?
You do realize that if you have a loss in one year, you can carry that forward into future years dont you? Otherwise, you could lose a million dollars during a 10 year period and have to pay a huge income tax bill. There is a reason for most income tax laws.
But I’m sure the NYTs would never have income tax lawyers look for every legal break they could take.
What gets me is there are still people out there who take the NYTs to be a more serious or reliable newspaper than Breitbart.
Republicans gleefully raised taxes on New York plumbers, carpenters, and first responders because the SALT deduction was so abhorrent to their fiscal sensibilities.
I assume they’ll pursue a New York multi-billionaire who paid less than a thousand dollars of income taxes with the same enthusiasm.