Simply put - pot, kettle, black.

[bonnie]

Clinton Campaign Admits Hillary Used Same Tax Avoidance "Scheme" As Trump

 

 

by Tyler Durden

Oct 2, 2016 4:45 PM

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Well this is a little awkward. With the leaked 1995 Trump tax returns 'scandal' focused on the billionaire's yuuge "net operating loss" and how it might have 'legally' enabled him to pay no taxes for years, we now discover none other than Hillary Rodham Clinton utilized a $700,000 "loss" to avoid paying some taxes in 2015.

The Clinton Campaign was quick to jump on the leaked Trump tax filing with Robby Mook tweeting...

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Hillary Clinton 

 

✔@HillaryClinton

Trump "apparently got to avoid paying taxes for nearly two decades—while tens of millions of working families paid theirs."

10:48 PM - 1 Oct 2016

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And Hillary following up, adding Trump "apparently got to avoid paying taxes for nearly two decades—while tens of millions of working families paid theirs."

However, a look back at Hillary Clinton's tax returns from 2015 (here), proudly displayed by the campaign proving she has nothing to hide - shows something awkward on page 17...

 

While not on the scale of Trump's business "operating loss", Hillary Clinton - like many 'wealthy' individuals is taking advantage of a legal scheme to use historical losses to avoid paying current taxes.

As Bloomberg notes, this federal tax break is among the wealthy's most used avoidance schemes...

 

 

Those 1.1 million folks in the 1 percent, as measured by the TPC, have annual income that averages a little less than $700,000. The top one-tenth of that group, some 110,000 households, average about $3.6 million, according to Howard Gleckman, a senior fellow at the TPC.2

 

The middle of the pack, some 33 million people, have pretax income ranging from $45,000 to $80,000. The lowest one-fifth of taxpayers, a universe of about 47 million Americans, have income up to about $24,000.

 

Among the biggest of these givebacks, courtesy of the Internal Revenue Service (well, really Congress), are capital gains and dividends—these are the biggest way the wealthiest benefit.

In the words of Hillary Clinton's campaign manager, "this bombshell report reveals [Hillary Clinton's] past business failures... and may show just how long [Hillary Clinton] may have avoided paying taxes."

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Finally, as we noted previously, the NYT itself is also perfectly happy to take advantage of the US tax to minimize the amount of money it pays to the government: in 2014 the company got a tax refund of $3.6 million despite having a $29.9 million pretax profit, an effective negative tax rate for 2014, which it explained was favorably affected by approximately $21.1 million for the reversal of reserves for uncertain tax positions due to the lapse of applicable statutes of limitations. 

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Simply put - pot, kettle, black.

[Tom Wetmore]

Transparency... 

She wasn't trying to hide it. He has been evasive about his business holdings and taxes. She released her tax returns. He still hasn't.  She hasn't been lying about her taxes.  He still won't tell the whole truth about his taxes and business holdings here and overseas.   See the difference?

And how about the false equivalency... again?  

Comparison.  One year vs. 18 or more years.  Reduced some of her federal income taxes vs. all of his.  She pays a substantial amount of federal income taxes most years.  It looks like he doesn't pay any most years.  

 

Nobody said what he did was illegal.  The tax system clearly does not treat everyone equally.  The rich get richer, in part thanks to "yuge" tax benefits that only the wealthy and big corporations can take advantage of while all of us poor working smucks pay a dramatically higher proportion of our hard earned income in taxes than they do. And which of the two candidates has pledged to fix that?  It sure isn't Donald.  His tax proposal will provided increased benefits to the wealthy beyond what we see and give a pittance, if any tax break for the middle class.  Hillary has pledged to give a significant tax break to the middle class and correct the ever increasing tax breaks for the wealthy, including herself, so that they actually have to contribute their fair share of taxes.  

[bonnie]

9 minutes ago, Tom Wetmore said:

Transparency... 

She wasn't trying to hide it. He has been evasive about his business holdings and taxes. She released her tax returns. He still hasn't.  She hasn't been lying about her taxes.  He still won't tell the whole truth about his taxes and business holdings here and overseas.   See the difference?

And how about the false equivalency... again?  

Comparison.  One year vs. 18 or more years.  Reduced some of her federal income taxes vs. all of his.  She pays a substantial amount of federal income taxes most years.  It looks like he doesn't pay any most years.  

You may believe she only did it once and not again if the opportunity presented itself. I don't.

9 minutes ago, Tom Wetmore said:

 

Nobody said what he did was illegal.  The tax system clearly does not treat everyone equally.  The rich get richer, in part thanks to "yuge" tax benefits that only the wealthy and big corporations can take advantage of while all of us poor working smucks pay a dramatically higher proportion of our hard earned income in taxes than they do. And which of the two candidates has pledged to fix that?  It sure isn't Donald.  His tax proposal will provided increased benefits to the wealthy beyond what we see and give a pittance, if any tax break for the middle class.  Hillary has pledged to give a significant tax break to the middle class and correct the ever increasing tax breaks for the wealthy, including herself, so that they actually have to contribute their fair share of taxes.  

You go ahead and take her pledge to the bank. Clinton will not rock her own wealthy boat. If she feels so righteously and strongly about it she would not have taken advantage when she did.  

You keep living in her asylum where she only lies a little or it's not significent.   I believe she is a better more convincing liar than Trump,he bulls his way,she is cunning. 

You believe that dozens of people have ganged up on this poor woman for decades and lied and lied about her and after all she was innocent. I don't,nor does over half the country. You keep your illusions about this woman that has been victimized for decades.