A Re-Run....

WAKE UP! It’s the old tax ploy again. Trump’s attacked over paying no income taxes by those too ignorant to understand the system, or who are scheming to make you think he’s done something crooked. For many years, I made my living designing tax shelters. Investors could avoid taxes, but only by investing in something the Fed wanted promoted. The government allows you to deduct—sometimes directly from the amount you owe—for investments they want to promote. In my day one of those investment opportunities was agriculture. In addition to normal depreciation, the amount set aside to replace tractors and equipment, ten percent tax credits were allowed for investment in capital expenditures on vineyards and orchards, which meant much of the cost of stakes and wires and irrigation, as an example, came directly off what you owed in income taxes, so many high earners invested in opportunities they normally wouldn’t consider. Many other investments enjoyed those tax advantages, but as a real estate broker I was concerned only with opportunities in real estate.

So, yes, many high-income individuals and companies avoid income taxes, but only by moving our economy forward, in Trump’s case, if true, he invested in hotels and real estate. The presstitutes would have you believe he ran to Brazil with his earnings to avoid taxes. Some of them are merely ignorant, most are manipulative trying to find a reason for you to vote for a candidate who’s never created a dime from risk/return, never created a job other than one that was paid for by taxes out of YOUR pocket and mine. And, as usual, they believe you're too stupid to understand the process. Sadly, in too many cases they're right. And, by the way, if those investments failed, oft-times the Fed recovered, recaptured, those income taxes from investors.

When you employ thousands of folks, as an example, how much do you imagine is paid in Social Security? That wouldn’t happen if someone hadn’t created those jobs.

And the fact is Trump is responsible for hundreds of millions of dollars of taxes in the form of real estate tax, sales taxes, inventory taxes, income taxes paid by those he employs, and hundreds of other of the plethora of taxes businesses are burdened by today.

Memories are so short. Moodys just said that the economy would fare better under Biden than Trump. I guess no one remembers that it was Moodys who rated all those mortgage packages created by Democrats in Fanny Mae and Freddy Mac as safe, and was a major contributor to the crash of 2008. There should be NO Moodys as a result of them likely been paid off by investment firms for ratings. This from the INDEPENDENT:

Credit rating agency Moody’s has said it will pay out almost $864m to US states and federal authorities to settle allegations the firm’s credit ratings for residential mortgages contributed to the worst financial crisis since the 1930s.

The US Department of Justice said the settlement also contained a “factual admission” of the firm’s conduct.

The terms of the deal will see Moody’s pay a $437.5m fine to the Department of Justice, and the remaining $426.3m split between 21 US states and Washington DC.