Anyone who understands how taxes work can understand how Trump paid no taxes. Trump has financed a 5-star lifestyle for himself by running up a massive debt while maintaining just enough income to service the interest payments to prevent default. In many ways, he's no different than the majority of Americans who, each month, pay the minimum balance on their credit card while the bigger debt accrues and accrues. In fact, he's no different than the American government which has been accruing massive debt since WW2. So why is it bad for him to do it if pretty much everyone including all major governments do the exact same thing?
Yes I did. One difference, sure, is that he actually has to pay the debt back as opposed to governments which just keep borrowing and then throw themselves at the feet of the IMF for a handout. On the other hand, it's not as catastrophic if an individual claims personal bankruptcy. Trump's great achievement, like America's, is to have posed as being far richer than he really is for a long time.
Anyone who understands how taxes work can understand how Trump paid no taxes. Trump has financed a 5-star lifestyle for himself by running up a massive debt while maintaining just enough income to service the interest payments to prevent default. In many ways, he's no different than the majority of Americans who, each month, pay the minimum balance on their credit card while the bigger debt accrues and accrues. In fact, he's no different than the American government which has been accruing massive debt since WW2. So why is it bad for him to do it if pretty much everyone including all major governments do the exact same thing?
ReplyDeleteyou didn't pay attention to the details
ReplyDeleteYes I did. One difference, sure, is that he actually has to pay the debt back as opposed to governments which just keep borrowing and then throw themselves at the feet of the IMF for a handout. On the other hand, it's not as catastrophic if an individual claims personal bankruptcy. Trump's great achievement, like America's, is to have posed as being far richer than he really is for a long time.
ReplyDelete