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Trump…Taxes…And America…

As I was watching the debate the other night, the issue of Taxes came up..

As many of my friends know, I am in the Income Tax and Accounting business and have been for over 35 years…

Trump has said he does not want to go against the advice of his lawyer who has advised him to not release his tax returns until the IRS audit is done..

In my opinion this is a legitimate course of action…what most people don’t know is that like most other thing’s in business, and life…an IRS audit is a negotiation…IRS wants more of your money…your goal is to try and keep some of it…you and the IRS are not enemies…but..you are adversaries…

Releasing his Income Tax Returns to the public before the IRS audit is complete could put him at a disadvantage with the negotiation process..

Then the question was raised as to how much Tax Donald Trump has paid…

Maybe he has paid a lot…maybe he has paid a little…whatever the amount it is I am sure it is all done in a legal manner…Mr. Trump has a quality organization and I am sure he has teams of Accountants and Lawyers handling these things for him…

If he has paid a small amount then it is only because he has followed the laws and rules that all people must abide by…just because he is wealthy does not mean he has to pay more than he is legally obligated to pay under the law..

Setting aside Personal Income Taxes….As we all know, there are all kinds of Taxes…how much money in Taxes do the activities of Mr. Trump generate for the USA ?

From a Tax standpoint…Is the USA better off, or worse off because of the activities of Donald Trump?

Anybody who understands anything about business will readily admit that the activities of a successful builder and developer like Trump have a tremendous positive impact on the economy…and…generate enormous amounts of taxes for the government at all levels…Federal…State…Local…

If you take away the activities of Trump..and all the others like Trump..you are tearing away the very fabric of America…

If you tear down Trump…you tear down America!!!

Jobs are leaving this country at an alarming rate!!!

Trump has offered concrete idea’s and solutions on how to stem the tide…

So how much taxes do the activities of Trump generate for the economy??

It is hard to say exactly….but let’s look at a simple example..

Let’s say that Trump builds a $300 million dollar building…

For easy figuring…let’s say that

$100 million was for the cost of the land…

$100 million was for the building materials…

and $100 million was for labor…

You get that?…100 million dollars of fresh capital going directly into the hands of hard working men and women for JOBS…

How much tax does $100 million dollars in wages paid directly to workers generate?

Here is some easy math…

Income taxes….$25 million…

Social security taxes…$12.4 million..

Medicare taxes.. $2.9 million..

These are just the Federal Taxes…there are more..but these are the basic ones…

And…don’t forget the $100 million dollars in Materials…Concrete…Steel..Sheetrock…Glass..Carpet…Paint…Draperies…Pipes..Electrical…etc..etc…etc..Probably $50 million of the $100 million in materials costs will be for labor…ie…JOBS…

On top of that you have a plethora of State and local taxes…

All of these Taxes generated for the Government coffers because Trump and others like Trump have the courage to put it all on the line and Build..

Do you have any idea the risk’s that are involved with a project like this?

This is what built America…Trump and men like Trump building America…one Building at a time…one Factory at a time…one Airplane at a time…one Car at a time….

Sometimes things don’t work out…all of their hard work and effort are destroyed…most often by things out of their control…when that happens…they build again…and again…and again..

Before us now is a capable man who loves America and who wants to be our champion…he wants to rebuild a worn and torn America for all of us…is he perfect?…of course not!!!…did he pay a bunch of personal income tax?, I don’t know…I don’t care…in my opinion it is a non issue…the amount of taxes his activities generated for the USA economy are 1000 times more than his opponent..

 

Respectfully,

Luke TheDanceGuy

Seattle WA


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3 COMMENTS

  1. if I was Mr. Trump,I would announce how much in taxes he is or is not declaring on his current tax filing.maybe other pertinent information such as charitable contribution and net income.

    Leave it at that,let the Clinton support yap about that all they want.As an answer to the criticism he would get for not releasing the entire filing return,he should tell them that he is to smart to let a rigged and lying media spend the entire time left before the election knit picking and auditing his return publicly in a negative light,attempting to convince the public that he has down something wrong!

    Since he is not legally required to publicize the entire return anyway.

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