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Politics : Politics for Pros- moderated

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unclewest

To: LindyBill who wrote (609805)	10/2/2016 9:29:33 AM
From: Follies	3 Recommendations Read Replies (4) of 793955

I don't get the brouhaha over Trumps taxes. Can anyone correct these statements if they are wrong? 1. The 900+ million was a capital loss. Capital losses can be carried forwarded and used against capital gains but only 3000 can be used against earned income, that would take 300 years to use it up that way. In other words, having a 900 million loss one year tells you very little what your tax bill will be in subsequent years. Saying trump paid no taxes in the following years is pure speculation. 2. Anyone with large assets could live like a king (or a Soros or a Clinton) and pay no taxes for years. If one had a capital gain in 1990 of a billion dollars and paid 35% taxes and was left with 650 million, you could spend 5 million a year for 130 years and pay no taxes. Don't people get this?

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