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TxJW17 81M

5/8/2019 12:41 pm

In the mid eighties depreciation on real estate was changed by the government (IRS). Due to the rich not paying much if anything in tax-----(government was going broke).
It was changed because guys like my relative (investor banker) bought buildings & land------valued the buildings (improvements) over about 5 or 7 years which gave them a tax deduction used to nullify profit from a different business they owned.

The change in depreciation (tax break) from 5 or 7 years to (29) years was done in order to reduce the tax dodge and bring more money into the US treasury. Plus ---they could no longer use a loss from one business to offset profit from another.

THIS CHANGE CAUSED THE US BANKS TO GO BANKRUPT along with real estate speculators. The FDIC had to take over banks & absorb their bad loans. HUD auctioned houses for much less than was loaned against them----The middle class paid the bill on that one.

Bringing it forward to NOW----politicians have reduced the amount of tax going into the U.S. Treasury with the huge tax break for the rich WHILE THE EXPENSES are still the same. There is NO WAY the treasury can survive that hit.

The next bust with bailouts has to be 2 or 3 years away when all the ramifications must level out.

The politicians have bankrupted the system once again.

And now we actually have a CONSTITUTIONAL CRISIS brought on by the rich, the corporations and their corrupt congressmen.

Our THREE BRANCH system of government as of now is working as intended.
If the ongoing attempt to subvert the system succeeds we are in deep sh-t.

It is time to stop with the democrat/republican crap & think about the future of the country.

The people must know what goes on in the government and anything that prevents the public (people) from receiving & knowing what goes on must be squelched before it is too late.

The press is not the enemy of the people. The press is the (only thing) standing FOR the people.

The rooskies have found a way to subvert the news through internet influence of the gullible.------That in combination with a person who will sell out to them is a deadly combination.

We should STOP with party affiliation & start thinking of who will represent THE PEOPLE and our children in the future.

I remember Carly Fiorina. In the primary campaign she said if elected I WILL NEVER SPEAK TO A RUSSIAN.
Where is that lady? We need her for sure. Our world would be a better place today IF ONLY.
Party On!


TxJW17 81M

5/8/2019 12:56 pm

Financial success? Like incorporating----dispensing assets----taking the company down -----then declare bankruptcy----in effect ripping of banks and or investors?
4 times?
In the past it was a disgrace. Now SOME THINK it is good business.
I understand a person must wait 7 years after bankruptcy before he can do it again.


TxJW17 81M

5/8/2019 2:44 pm

It has escalated into a constitutional crisis that can change the future.
The 3 branches of government must retain the ability to cross check.
The ability to do that is under attack.
The rooskies (seeing us self destruct) must be laughing out their butt.

They will have their propaganda in the next election like in the last one.
Party On!


TxJW17 81M

5/8/2019 4:24 pm

Rock
Only if the guy from Texas complains.
Party On!


TxJW17 81M

5/8/2019 6:18 pm

Rock If I promised to release my taxes in order to get elected. I would feel obligated to do what I said I would do rather than make myself an outright liar.
You did ask.
Party On!


TxJW17 81M

5/8/2019 6:39 pm

Cohen said there is a lot there that needs to be told. He will be bringing it all out.
The pres threw him under the bus so he is most likely the tax snitch with not much to loose since he already went to the slammer while boss rump is living the good life.
No honor among crooks who do not expect a pardon.
The dude has all the records. LOL

Also business is not allowed more than 3 consecutive tax losses in a row or it is in deep do do.

AND business keeps 2 records.----#1 for the IRS--- #2 to show (actual) profit or loss. If someone gets their hands on #2---most any accountant can determine
the contents of #1. THAT MEANS the copy they have can come from someone other than the IRS.
Party On!


TxJW17 81M

5/8/2019 6:45 pm

Block like trump when I run for president I will promise to release my taxes but the difference is I will not lie about it.
Party On!


sparkleflit 76F
10271 posts
5/8/2019 8:13 pm

    Quoting  :

You can find out how the NYT got Trump's taxes......They got it by careful sleuthing. They have real investigative journalists working for them.........They got a bit of info, did some correlations with publicly available info etc......I read somewhere how they did it........you can find it if you try.

It's going to be interesting to see how far the Trump loyalists will go to defend him.....Fox and Friends made total asses of themselves today defending Trump's business failures as successes............The longer you stick up for him the longer your fall from grace......LOL


TxJW17 81M

5/8/2019 8:33 pm

trump followers refuse and can not speak to the fact that he said he would release his taxes. They are like children who think by ignoring the fact it will somehow go away. The jerk lied they know he lied and he lies when the truth would sound better but they will not speak to it.
They always dodge. It seems like they would get tired of excusing the worlds worst liar but to each his or her own. I refuse to base my life on lies and I refuse to back a liar.
Party On!


TxJW17 81M

5/8/2019 8:39 pm

ET Block is picking on me. Help me out here.
I'm having trouble staying ahead of him. LOL
It's like talking to a rock. or a fence post.


TxJW17 81M

5/8/2019 9:13 pm

Rock while searching for 30,000 emails those rooskies happened to get over into tax reports. LOL

So the rooskies determined they could do more damage to the USA with a liars tax reports than they could with the 30,000 emails so here we are in the middle of a constitutional crisis created by the presidents rooskie friends who leaked his tax reports. LOL But Vlad told the pres----hey buddy it wasn't us-- trust me. LOL
And the pres says vlad is a good man I trust him. It is our freaking intelligence services & news reporters who I don't trust. They are all enemies of the people because I AM THE MAN & I'm not lying about it. LOL

That is probably how his tax returns are going public. He has been rooskied by buddy Vlad. The rooskies did it.

No he may be getting wikied by the wiki leakers.

Block you figure it out. With a cut & paste. LOLOL
Party On!


TxJW17 81M

5/8/2019 9:22 pm

Block I would show you all of my tax returns but like trump said-----you are not smart enough to understand them. LOL
It would be a waste of my time.
You (cut & paste) your own taxes when someone else figures it for you. LOL

Party On!


rus1940 84M
92 posts
5/8/2019 11:01 pm

In 1974, I bought a pecan farm in Tucson. I was able to get back all the taxes that I had paid in for three years prior to buying the farm. I was able to avoid paying any taxes for the next 7 years. I was able to recover part of the money I had used to buy the farm. The tax code has allowed depreciation for years.

Another deduction that can help to offset taxes is charity deduction. Rommey has given to his church and others about $21,000,000 a year and has paid not taxes.

I did have paper losses from the farm. All were legal and covered by the tax code.

I would like to see all the tax returns from senators and congress folks before and after they are elected. There have been several folks that have cheated on their tax returns - Al Sharpon, Charles Rangel, Jessie Jackson's son and daughter in law. Up to 60,000 folks that work for the IRS have not paid taxes or even filed a return.

The tax code does not determine the success or failure of a business, but only determines the amount of taxes that are owed

RDD


TxJW17 81M

5/9/2019 1:51 am

Rus if I remember correctly (the tax code) states something like the department of treasury (SHAL turn over any tax reports to a congressional investigative committee if so requested.
SHALL is a key word. And if memory failed me and I'm wrong Bob will surely point it out. LOL

The tax code (change) around the year 1985 did cause businesses to go bankrupt. THAT IS A FACT. A relative of mine built a 40 or 50 story building in Austin Texas back then and went bankrupt because of it. Pinnacle Building & housing development he was doing in southwest Austin. Change of the 7 year tax hedge to 27 did him in. There is an article about it on the net (High Flying Low Flying Jerry Angerman. He even had to sell his helicopters
along with the building & landing pad on top of it. LOL

The tax code (change) also hurt farmers I know who had sold their farms to land speculators ( on the interest only for the first 3 year---then a balloon payment ) (on the principle) to get the farms handed back to them.
I know farmers who sold their land for 1250 per acre back then on a note to pay & when they got it back 3 years later it would only sell for about 700 per acre. Many lawsuits over that one. LOL

The tax code did cause the losses.
American Capitalism is based on the tax code.
If only I were a capitalist. LOL
Party On!


TxJW17 81M

5/9/2019 4:51 am

ET LOL
Thanks for the suggestion. I will change his pet name from Rock to HalfWit or nitwit.

No. Wait I think I shall change his name to hemorrhoid. LOL


TxJW17 81M

5/9/2019 4:59 am

ET have you heard about trumps mentor from Texas. Billy Sol Estes our famous Texan who wrote the book on finances, business success & political influence.
He even trained LBJ & taught him how to advance to the presidency.
Party On


TxJW17 81M

5/9/2019 5:14 am

One of Billy Sols accountants got frustrated while trying to figure out Billy Sols taxes for an investigating committee and committed suicide. Shot himself 5 times with a bolt action rifle.
Trumps taxes are not that difficult yet but it is getting there. LOL
Billy Sol was writing the financiers art of the deal BIBLE when he passed on.
Party On!


TxJW17 81M

5/9/2019 8:18 am

Well Rock you just nullified your claim that we CAN'T AFFORD MEDICARE FOR ALL!
Since Greenspan says we can't go bankrupt and you believe him STOP SAYING we can't afford it. LOL
We can have anything we want.
Thanks for clearing that up for us.

Trump himself said he is (ALWAYS) under audit. Do YOU actually think the IRS has him under constant audit without finding discrepancies? Get a grip.

Furthermore it is (against the law) for the IRS to constantly audit.

If memory serves correct----the IRS is limited by law to three consecutive audits.UNLESS it DOES find a discrepancy in there somewhere. Trumps own statement of constant audit proves his returns have discrepancies.

PLUS it is wrong for you to assume he has not been fined for (illegal) discrepancies. If his accountants are constantly messing up on his taxes or cheating on purpose----(causing the audits) he needs to fire them & do it himself. After all he is the genius.

You are right----what you say can't change my mind because you don't know what the hell you are talking about. You do better with cut & paste than you do with thinking. LOL

I wrote it all myself & I like always assume Bob will make all needed corrections. LOL
Party On!


TxJW17 81M

5/9/2019 9:23 am

ET trumps mentor Texan Billy Sol has a famous song written in his honor & videos on how to beat investigations on the net. LOL The song is Legend Of Billy Sol by Phil Ochs on the tube. Phil Ochs from Texas also wrote the song Draft Dodger Rag which inspired trump on his quest to avoid military service. It is also on the tube.
Ochs is from El Paso Texas ---home of BETO who may displace trump in the next election.
Many smart & famous Texans down here. Then there Is Bob the intellectual wizard. LOL
Party On!