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Getbig Main Boards => Gossip & Opinions => Topic started by: JAGO on September 27, 2020, 03:31:15 PM
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Paid $750 the year he was elected - Yes SEVEN HUNDRED FIFTY DOLLARS. If you make $22 dollars an hour and have no kids you pay more.
What a business genius-
-New York Times: Trump paid no income taxes in 10 of past 15 years.
Donald Trump has paid no income taxes whatsoever in 10 of the past 15 years since 2017 as a result of reporting that he was losing significantly more than he made, according to an explosive report released Sunday by the New York Times.
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Anybody who overpays their income taxes has a lousy CPA. Utilizing net operating loss carryforwards is entirely legal and legit. There is nothing "explosive" about this. A net operating loss results from a business LOSING money. You don' t pay income taxes on negative income. How is this known since Trump's tax returns have not been released? What does "10 of the past 15 years since 2017" even mean? It makes no sense.
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Anybody who overpays their income taxes has a lousy CPA. Utilizing net operating loss carryforwards is entirely legal and legit. There is nothing "explosive" about this. A net operating loss results from a business LOSING money. You don' t pay income taxes on negative income. How is this known since Trump's tax returns have not been released? What does "10 of the past 15 years since 2017" even mean? It makes no sense.
JAGO is quite the retard. Everybody knows that.
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If he was not doing anything illegal to avoid paying taxes then what's the problem? Nobody pays more than they have to.
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So what? This just means that Trump hires competent accountants. The wealthy will always find legal ways to pay little to no taxes.
"After two straight years of paying $0 in U.S. federal income tax, Amazon was on the hook for a $162 million bill in 2019, the company said in an SEC filing on Thursday.
Of course, $162 million is still just a fraction of the $13.9 billion in pre-tax income Amazon reported for 2019 — roughly 1.2%, in fact. The federal corporate tax rate is 21%, but as in the past, Amazon likely employed various tax credits and deductions to reduce its federal tax bill. Amazon also reported $280.5 billion in total revenue in 2019."
https://www.cnbc.com/2020/02/04/amazon-had-to-pay-federal-income-taxes-for-the-first-time-since-2016.html
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only a libatard would pay more tax than needed to, but only a libatard would cheat on their tax and accuse others of cheating.
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During his first general election debate against Democrat Hillary Clinton in 2016, Clinton said that perhaps Trump wasn't releasing his tax returns because he had paid nothing in federal taxes.
Trump interrupted her to say, "That makes me smart.”
https://www.yahoo.com/news/ny-times-trump-paid-750-214154920.html
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only a libatard would pay more tax than needed to, but only a libatard would cheat on their tax and accuse others of cheating.
36 Obama aides owe $833,000 in back taxes
https://www.investors.com/politics/columnists/obama-white-house-staff-back-taxes/
Obama's treasury secretary apologizes for not paying taxes
https://www.theguardian.com/world/2009/jan/21/obama-treasury-secretary-geithner-taxes
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https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html. "By their very nature, the filings will leave many questions unanswered, many questioners unfulfilled. They comprise information that Mr. Trump has disclosed to the I.R.S., not the findings of an independent financial examination. They report that Mr. Trump owns hundreds of millions of dollars in valuable assets, but they do not reveal his true wealth. Nor do they reveal any previously unreported connections to Russia."
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I love how some folks jump to Trumps defense whenever something like this comes up. If he paid no income taxes in the last 15 years because he suffered a net loss of income, then the argument that he's a great businessman fails. Great businessmen make money, not lose it.
If the NY Times story does not seem completely credible, it is because they won't reveal their sources. However, if Trump says this information is wrong, he could sue the NY Times, (he's no stranger to using the legal system to his advantage). Of course, if he sued he'd have to prove they lied. How would he do this without revealing his tax returns to the courts.
Trump is his own spin-doctor. He'll do whatever it takes (like lie), to delay (indefinitely if possible), the truth being revealed about anything which paints him in a bad light.
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36 Obama aides owe $833,000 in back taxes
https://www.investors.com/politics/columnists/obama-white-house-staff-back-taxes/
Obama's treasury secretary apologizes for not paying taxes
https://www.theguardian.com/world/2009/jan/21/obama-treasury-secretary-geithner-taxes
You're point? Trump not paying his income tax does not equate to people who served in Obama's administration. If this were about a business, an employer is not responsible for his or her employees tax evasions.
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Tax avoidance = legally preparing tax return to pay as little tax as possible.
Tax evasion = illegally cheating on taxes.
Most people don't understand the difference.
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According to the New York Times...
More fake news to try to harm President Trump’s re-election campaign.
I am looking forward to the debate beating President Trump is going to lay on Hairplugs Biden. I honestly hope the senile old liberal fool Biden has an aneurysm right on stage.
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If you have inc or are a corporation you dont have to pay taxes because corporations are backed by the gov
Im sure he pays alot of property tax
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trump supporter" it's great that he got away with not paying any taxes, good for him, i wish i could!"...
newsflash: but you can't trump supporter, and he could and did....that's the whole point!
if anything regular joe should be even MORE pissed off at trump instead of praising him and wishing until their last breath they could be just like him!...
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You're point? Trump not paying his income tax does not equate to people who served in Obama's administration. If this were about a business, an employer is not responsible for his or her employees tax evasions.
Well, hello resident pedo defender!
My point is that like many wealthy people, Trump likely used tax credits and deductions to reduce his federal tax bill.
These 36 liberals on the other hand, one of them non other than Obama's treasury secretary of all people, cheated on their taxes.
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Another self-ownage thread.
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JAGO,
With all due respect, taxes are for W2 employees.
If you own your own business or live off of passive income, you shouldn't have to pay more than 15% at best (more times than not, you pay nothing).
Shit, depending on the type of business (say a property management company), you not only pay NO taxes, but possibly get money in return.
Trump isn't an idiot.
"1"
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I'm still voting for Trump
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Another blatant lie by Jago. Just because a liberal rag states “according to an anonymous source” - doesn’t make anything a fact.
What are failing Canadian marijuana dealers concerned about the US for anyway? LOL
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Story’s been out for 15min and of course libtards believe it 😂😂😂
Eat (another) dick JAGO
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(https://compote.slate.com/images/bb69fb1d-40fb-448a-9035-98e6b67beb8e.png)
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Paid $750 the year he was elected - Yes SEVEN HUNDRED FIFTY DOLLARS. If you make $22 dollars an hour and have no kids you pay more.
What a business genius-
-New York Times: Trump paid no income taxes in 10 of past 15 years.
Donald Trump has paid no income taxes whatsoever in 10 of the past 15 years since 2017 as a result of reporting that he was losing significantly more than he made, according to an explosive report released Sunday by the New York Times.
Hey Mr. “I went to Cornell” ....you spelled “TAXES” wrong numbnuts
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Anonymous source = zero credibility = fake news.
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Paid $750 the year he was elected - Yes SEVEN HUNDRED FIFTY DOLLARS. If you make $22 dollars an hour and have no kids you pay more.
What a business genius-
-New York Times: Trump paid no income taxes in 10 of past 15 years.
Donald Trump has paid no income taxes whatsoever in 10 of the past 15 years since 2017 as a result of reporting that he was losing significantly more than he made, according to an explosive report released Sunday by the New York Times.
Thank for the info. Trump is even more of a genius than I thought he was. No wonder that he lives like a King and you sit all day in front of your computer typing on GetBig.
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NYT is reporting that there will be more articles coming in the next few weeks - all 100% verified. He made more money as the host of apprentice then his businesses made and he had to funnel his salary into the business to keep it a float.
The orange idiot is going to be locked up when Biden takes over.
J
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Why should I care? I'm confused ???
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I love how some folks jump to Trumps defense whenever something like this comes up. If he paid no income taxes in the last 15 years because he suffered a net loss of income, then the argument that he's a great businessman fails. Great businessmen make money, not lose it.
If the NY Times story does not seem completely credible, it is because they won't reveal their sources. However, if Trump says this information is wrong, he could sue the NY Times, (he's no stranger to using the legal system to his advantage). Of course, if he sued he'd have to prove they lied. How would he do this without revealing his tax returns to the courts.
Trump is his own spin-doctor. He'll do whatever it takes (like lie), to delay (indefinitely if possible), the truth being revealed about anything which paints him in a bad light.
Ah, what a pizza with piss & poop of Stinky Saggy Jay III & The New York Toilet Times !.
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NYT is reporting that there will be more articles coming in the next few weeks - all 100% verified. He made more money as the host of apprentice then his businesses made and he had to funnel his salary into the business to keep it a float.
The orange idiot is going to be locked up when Biden takes over.
J
Penniless YELLOW JaaGoo is pooping in jelaousy ............ ;D
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Story’s been out for 15min and of course libtards believe it 😂😂😂
Eat (another) dick JAGO
JaaGoo prefers Xi Jingping 1 ;)
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https://nypost.com/2020/09/27/trump-pushes-back-on-nyt-report-on-his-federal-income-tax-for-2016/
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NYT is reporting that there will be more articles coming in the next few weeks - all 100% verified. He made more money as the host of apprentice then his businesses made and he had to funnel his salary into the business to keep it a float.
The orange idiot is going to be locked up when Biden takes over.
J
You should be locked up. Spreading disease that ruined the world and being such a filthy and gross people eating anything and everything you savages can get your hands on.
Can you translate what this creature is saying as she devours baby birds she found in the bushes? I only know a little of Chinese and it sounds like she's saying, "Need some fly rice and
and shoyu to make mo betta."
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Harry Reid is back after saying Romney didn't pay his taxes.
It's called tax advantaged assets....depreciation of real estate - and it's the reason that anyone with high income gets into investing in real estate.
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Paid $750 the year he was elected - Yes SEVEN HUNDRED FIFTY DOLLARS. If you make $22 dollars an hour and have no kids you pay more.
What a business genius-
-New York Times: Trump paid no income taxes in 10 of past 15 years.
Donald Trump has paid no income taxes whatsoever in 10 of the past 15 years since 2017 as a result of reporting that he was losing significantly more than he made, according to an explosive report released Sunday by the New York Times.
You people generally only use the 1040 and EIC forms and take them to some schmuck at Wal-Mart, so taxes aren't something you need to concern yourself with.
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NYT is reporting that there will be more articles coming in the next few weeks - all 100% verified. He made more money as the host of apprentice then his businesses made and he had to funnel his salary into the business to keep it a float.
The orange idiot is going to be locked up when Biden takes over.
J
Just a desperate attempt to get some votes for Biden in the election that is taking place in 6 weeks.
Biden must be losing badly if they are still talking this tax BS after a global pandemic & nationwide rioting
Biden is weak and has nothing to offer this country
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According to the New York Times...
More fake news to try to harm President Trump’s re-election campaign.
I am looking forward to the debate beating President Trump is going to lay on Hairplugs Biden. I honestly hope the senile old liberal fool Biden has an aneurysm right on stage.
You just don't get it. THIS is the story that will cause the Trump campaign to founder. It's his Chappaquiddick - worse than
a live boy or dead girl in Trump's closet.
:D
(https://pbs.twimg.com/media/Ei9bhTkXgAAFWL8?format=jpg&name=large)
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They've been saying this for 5+ years. Nobody cares...most of all the IRS, which is odd is it not? Not nearly big enough to save Biden in a debate.
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You just don't get it. THIS is the story that will cause the Trump campaign to founder. It's his Chappaquiddick - worse than
a live boy or dead girl in Trump's closet.
:D
(https://pbs.twimg.com/media/Ei9bhTkXgAAFWL8?format=jpg&name=large)
You are in denial. Biden has already lost.
Trump is steamrolling his way to a landslide victory
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You just don't get it. THIS is the story that will cause the Trump campaign to founder. It's his Chappaquiddick - worse than
a live boy or dead girl in Trump's closet.
:D
(https://pbs.twimg.com/media/Ei9bhTkXgAAFWL8?format=jpg&name=large)
BREAKING: Wealthy individual uses legal methods to avoid giving up his hard-earned money to the IRS.
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;D. ;D
I guess trump is no financial genius / billionaire...
The plot thickens...
Carry on...
(https://ih1.redbubble.net/image.1599465930.1709/st,small,507x507-pad,600x600,f8f8f8.jpg)
;D. ;D
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You are in denial. Biden has already lost.
Trump is steamrolling his way to a landslide victory
Man, I’d love to agree with you but the left is throwing out a SHIT TON of money to cheat this election. Even I’m not that confident. Left absolutely knows no matter who the candidate is, they can’t win on policies so they cheat the system
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NYT is reporting that there will be more articles coming in the next few weeks - all 100% verified. He made more money as the host of apprentice then his businesses made and he had to funnel his salary into the business to keep it a float.
The orange idiot is going to be locked up when Biden takes over.
J
"The New York Times Co. paid no federal taxes in 2017, despite earning $111 million that year."
https://www.cbsnews.com/amp/news/fedex-tax-break-fedex-ceo-fred-smith-challenges-new-york-times-leaders-to-debate-over-tax-claims/?__twitter_impression=true#app (https://www.cbsnews.com/amp/news/fedex-tax-break-fedex-ceo-fred-smith-challenges-new-york-times-leaders-to-debate-over-tax-claims/?__twitter_impression=true#app)
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Man, I’d love to agree with you but the left is throwing out a SHIT TON of money to cheat this election. Even I’m not that confident. Left absolutely knows no matter who the candidate is, they can’t win on policies so they cheat the system
Exactly. Don't get complacent. Most hang out with their own kind and their views are constantly reinforced. Remember when Nixon won people in New York were dumbfounded. They said they didn't know anyone, not a single person who voted for Nixon. Of course they didn't. They live in New York.
Most people don't follow and scrutinize the new or know how our government works. They vote on the overall impression they have of a candidate. And that is controlled by the media. And, of course the media is anti-Trump at a level that has never been experienced before. So, for instance when I talked to my neighbor the other day, typical guy. Speaks well, family man, successful about Trump his response was pretty typical of all my neighbors and most of whom I encounter: "I don't know. This Orange man is always causing drama. Seems corrupt. Always something shady coming up. Always angry and rude and doesn't seem to care about anybody but himself and his rich friends.
Nothing about what he has actually done: Crushing ISIS in record time when they were on the news daily were predicting another ten year war, nothing about lowering taxes where his daughter who works at a bank went from $12.50/hr to $15/her within a week when the capital gains raxes were cut, doubled the threshold for the "death tax" though he tried to eliminate it completely but Dems still control the house, built up our military, actually got a peace treaty in the Middle East; something no other President has been able to do, finally made us energy independent for the first time in over fifty years.
It goes on and on but most people are just oblivious to this. They just think of the guy who insists on saying, "China virus". "Why piss people off?" I'm asked.
Don't keep saying to yourself that the polls are completely off. That Trump is going to win in a landslide. There are a lot of people who are going to vote for Biden if only because they hate Trump and there are tons of those. They hate Trump with just as much passion, if not more so, that those who love him.
Admit he's an asshole but focus on what he has actually done. Do you want a nice guy who is an impotent puppet and may very well cede his position in one way or another to Kamala Harris, or someone without a charming personality that actually gets things done?
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You just don't get it. THIS is the story that will cause the Trump campaign to founder. It's his Chappaquiddick - worse than
a live boy or dead girl in Trump's closet.
:D
(https://pbs.twimg.com/media/Ei9bhTkXgAAFWL8?format=jpg&name=large)
You are in denial. Biden has already lost.
Trump is steamrolling his way to a landslide victory
(https://media1.tenor.com/images/14bb2b10edf64cc5206f35392cf2dde5/tenor.gif)
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JAGO,
With all due respect, taxes are for W2 employees.
If you own your own business or live off of passive income, you shouldn't have to pay more than 15% at best (more times than not, you pay nothing).
Shit, depending on the type of business (say a property management company), you not only pay NO taxes, but possibly get money in return.
Trump isn't an idiot.
"1"
Poor shlubs never understand this.
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Prime, real men who dont "man the glory hole" are talking here, go back to sucking-caulk ya retard. ::)
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I hope you are watching this idiot trying to talk his way out of this. It’s really interesting to watch a fool tell fools it’s fake news when the most respected paper, with the most respected journalists in the business have the documents.
J
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MSNBC has just reported the orange idiot personally owes $412 million dollars and the $750 dollars he paid, was $10 less then someone who made $18,000 with no dependents.
J
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MSNBC has just reported the orange idiot personally owes $412 million dollars and the $750 dollars he paid, was $10 less then someone who made $18,000 with no dependents.
J
so what ??
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So,let me dumb this down for YOU.
The orange idiot campaigned on a platform of “I am a great deal maker, self made billionaire and I can fix things.” So, we now know . . . he is broke ( you don’t have to personally back any debt if you have equity) he is a liar and can’t cut a deal to save his business let alone save America.
Also, who is he indebted to, who wrote the paper, in other words WHO DOES HE OWE? PUTIN, THATS WHO.
32 days is it, until Biden wins in a landslide. And, we should see Trump in cuffs buy late spring. Did you see them chanting “ lock him up!” at Trumps recent public appearance?
?
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Harry Reid is back after saying Romney didn't pay his taxes.
It's called tax advantaged assets....depreciation of real estate - and it's the reason that anyone with high income gets into investing in real estate.
Indeed, and high income people including Mitt Romney do the same with stocks and retirement accounts too:
"Tax-loss harvesting is a strategy that can help investors minimize any taxes they may owe on capital gains or their regular income. It can also improve overall investment returns. As a strategy, tax-loss harvesting involves selling an investment that has lost value, replacing it with a reasonably similar investment, and then using the investment sold at a loss to offset any realized gains."
https://www.investopedia.com/articles/taxes/08/tax-loss-harvesting.asp
"A Roth IRA conversion is a transfer of retirement assets from a Traditional, SEP, or SIMPLE IRA into a Roth IRA, which creates a taxable event. A Roth IRA conversion can be advantageous for individuals with large traditional IRA accounts who expect their future tax bills to stay at the same level or grow at the time they plan to start withdrawing from their tax-advantaged account, as a Roth IRA allows for tax-free withdrawals of qualified distributions."
https://www.investopedia.com/terms/i/iraconversion.asp
"Reports that Mitt Romney has millions of dollars in his IRA caught the attention of media over the years, primarily those who continue to question how one was able to accumulate so much wealth in an IRA. It is estimated that Mr. Romney has between $20.7 and $101.6 million in an IRA account, a big chunk of his fortune."
https://www.forbes.com/sites/forbesfinancecouncil/2018/08/03/mitt-romneys-retirement-account-makes-case-for-roth-iras/#7284be61215a
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get over your self only little people pay tax
True dat - Trump nation!
Oh, there is a debate tomorrow- will don get coked up for this one?
J
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Enjoy four more years of Trump. He used every legal means to pay the minimum amount of taxes like everyone does. If Democrats don’t like the tax code they should have changed it under eight years of Obama or Bill Clinton. They didn’t because they all use the business losses to write off taxes. Yes Trumps businesses had major losses but even with the losses he’s still a billionaire.
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Enjoy four more years of Trump. He used every legal means to pay the minimum amount of taxes like everyone does. If Democrats don’t like the tax code they should have changed it under eight years of Obama or Bill Clinton. They didn’t because they all use the business losses to write off taxes. Yes Trumps businesses had major losses but even with the losses he’s still a billionaire.
And still the president of the most powerful nation in the world, after mopping the floor with both the Bush and Clinton dynasties.
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JAGO,
With all due respect, taxes are for W2 employees.
If you own your own business or live off of passive income, you shouldn't have to pay more than 15% at best (more times than not, you pay nothing).
Shit, depending on the type of business (say a property management company), you not only pay NO taxes, but possibly get money in return.
Trump isn't an idiot.
"1"
You really have no idea as to what you are talking about. Its ok.
J
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Just a desperate attempt to get some votes for Biden in the election that is taking place in 6 weeks.
Biden must be losing badly if they are still talking this tax BS after a global pandemic & nationwide rioting
Biden is weak and has nothing to offer this country
That's right, everyone is out to get poor misunderstood donny. ::)
J
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BREAKING: Wealthy individual uses legal methods to avoid giving up his hard-earned money to the IRS.
Well its official, YOU are the biggest idiot on this board and boy oh boy does that say a lot.
J
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"The New York Times Co. paid no federal taxes in 2017, despite earning $111 million that year."
https://www.cbsnews.com/amp/news/fedex-tax-break-fedex-ceo-fred-smith-challenges-new-york-times-leaders-to-debate-over-tax-claims/?__twitter_impression=true#app (https://www.cbsnews.com/amp/news/fedex-tax-break-fedex-ceo-fred-smith-challenges-new-york-times-leaders-to-debate-over-tax-claims/?__twitter_impression=true#app)
Obvisously they had losses and posted them against income. However, THEY DID NOT STEAL $193+ MILLION BY CHEATING AND HAVE NEVER CLAIMED TO BE BUSINESS GENIUSES.
SORRY,
J
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4 consecutive post meltdown.
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You really have no idea as to what you are talking about. Its ok.
J
lol.....then explain it to him Mr. “I graduated from Cornell” If anyone on here gets it, It’s OMR.
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Lol this is perfect. Exactly the type of responses i was expecting.😆 Hook, line and sinker.
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A bombshell New York Times investigation has offered the most conclusive proof yet that US President Donald Trump's business empire is nowhere near as successful as he claims. Trump has for years cited his business acumen as a defining trait, and one that gave him an advantage over others seeking the presidency.
"I did a lot of great deals, and I did them early and young. And now I'm building all over the world, and I love what I'm doing," he said when he announced his presidential bid in June 2015. "I'm really proud of my success. I really am."
But that picture has been complicated in the years since the former host of "The Apprentice" was catapulted into the political spotlight. News reports have drawn attention to Trump's history of corporate bankruptcy and the outsized role his father played in his financial success.
On Sunday, the New York Times published the deepest dive ever into the US president's finances, citing detailed tax records that the newspaper says "portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses."
The tax returns for Mr. Trump and hundreds of his businesses reveal the hollowness, but also the wizardry, of the self-made-billionaire image honed through 'The Apprentice,'" the Times concluded. "They demonstrate that he was far more successful playing a business mogul than being one in real life."
Trump on Sunday denied the New York Times story and claimed that he pays "a lot" in federal income taxes. "I pay a lot, and I pay a lot in state income taxes," he said. A lawyer for the Trump Organization, which manages the president's family businesses, told the Times that "most, if not all, of the facts appear to be inaccurate."
Here's a look at what the Times investigation revealed:
Trump paid no or little federal income taxes for years- According to the Times, he paid no federal income taxes in 11 out of 18 years the newspaper examined. He also managed to pay federal income taxes of just $750 in each of the first two years of his presidency, 2016 and 2017. The report shed some light on how this was able to happen, namely by the way his businesses reported their earnings.
Throughout his career, Mr. Trump's business losses have often accumulated in sums larger than could be used to reduce taxes on other income in a single year," the Times reported. "But the tax code offers a workaround: With some restrictions, business owners can carry forward leftover losses to reduce taxes in future years."
Many of his businesses are burning huge piles of cash - According to the investigation, some of Trump's companies are doing well and profitable; others, not so much. Some of his best-known ventures "report losing millions, if not tens of millions, of dollars year after year," according to the Times. That includes his famous golf courses — which have reportedly racked up at least $315 million in losses over the past two decades.
For example, Trump's golf resorts at Turnberry and Aberdeen in Scotland lost over £11.8 million ($15.2 million) in 2018, company records show, and lost money the previous year too. British labor union RMT said Friday that Trump now plans to lay off up to 80 workers at Turnberry, or roughly 17% of its workforce, and cut salaries and working hours despite receiving UK government wage subsidies during the pandemic -Trump Turnberry did not respond to a request for comment on RMT's claims.
Trump Tower in New York is a major moneymaker - The storied skyscraper, which sits on Manhattan's Fifth Avenue, has "reliably delivered more than $20 million a year in profits, a total of $336.3 million since 2000," according to the Times. Trump's stake in two office towers in New York and San Francisco has also worked out well, delivering $176.5 million as of the end of 2018, the publication reported.
Trump's D.C. hotel is not - The Trump International Hotel in Washington D.C., which reportedly asked for relief on rent payments earlier this year due to the coronavirus pandemic, has lost more than $55 million since opening four years ago, the Times reported. The property has come under intense scrutiny in recent years amid allegations that Trump was unfairly profiting from his presidency.
He made money from foreign deals after becoming president- When he took office, Mr. Trump said he would pursue no new foreign deals as president," the Times reported. "Even so, in his first two years in the White House, his revenue from abroad totaled $73 million."
Trump had extensive foreign business interests before he became president, leading to questions about potential conflicts of interest. As of 2016, for example, his financial disclosures listed more than 140 companies that had dealings in at least 25 countries around the world, according to a CNN review.
Need I go on?
Bottom line is that most people on GetBig have more equity than the orange idiot. Everyone who votes for or has voted for the orange idiot need only hit the sunbeds, because they are already half way there.
J
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Why am I not surprised that libtards don't understand corporate taxes? Corporations only pay taxes on their gains AFTER expenses. That allows accountants to structure everything so there is as little as possible taxed. Trump's corporate taxes are no different than the Clinton's Foundation tax structure and probably Biden's as well.
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You really have no idea as to what you are talking about. Its ok.
J
You told me you are a Canadian pot dealer?? WTF would you know about this? I assure you that I pay ZERO income tax on many investments and most properties. (And yes I MAKE money on them but find legal ways to fck the tax system!!!)
You don’t own a business - so quiet down.
And dude - I get that you want to avoid conflict but don’t send me anymore homosexual advances via pm. I told you twice already that just because I don’t judge you for your proclivities - I have zero interest in “chatting with you” .... and I damn sure have no desire to “wrestle and the loser has to service the winner - WTF??? “
Yes guys - this Jago dude is a total oddjob.
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You really have no idea as to what you are talking about. Its ok.
J
I'm an accountant in NYC with over 30 years servicing small to large sized businesses. Have worked for 2 of the top 3 accounting firms and have a large clientele that solely does real estate investments much like Trump.
Please educate me on how the tax system works. I'm not saying I know everything, because I don't. But one thing I know is how real estate developers get around taxes. Everything Trump has done is 100% legal. But please help me understand, because I might be overlooking something.
"1"
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WTF is seriously wrong with Rob Z- yeah, our own 240 or bust, 240 is back, JAGO, etc etc. Just goes non stop on this anti-trumo shit every 4 years. Is it the failed website business, failed rock band, failed bodybuilding or failed marriage that is responsible?
What a truly messed up individual.
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I'm an accountant in NYC with over 30 years servicing small to large sized businesses. Have worked for 2 of the top 3 accounting firms and have a large clientele that solely does real estate investments much like Trump.
Please educate me on how the tax system works. I'm not saying I know everything, because I don't. But one thing I know is how real estate developers get around taxes. Everything Trump has done is 100% legal. But please help me understand, because I might be overlooking something.
"1"
JAGOWNED
He won’t return and will instead start a new thread about Amy Coney Barrett scissoring Dr. Ford’s face off at a frat party back in ‘82. The NYT told him so!
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Talks about the illegality of disclosing tax returns and separately discusses real estate tax loopholes:
Determining the source of tax leak....
Cernovich: "the 1099 income report is only something a handful of people would ever look at"
"This detail in NYT story on Trump’s tax returns greatly narrows who the source was"
(https://i.postimg.cc/tTP5nnkf/Ei-n5-0-UMAEttyr.jpg)
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One More Rep - PLEASE PLEASE PLEASE - do not attempt to educate this Canuck. You are one of the most reasonable, intelligent posters ever on this board. I have to hire people like you because without - I’d be offering 6-7 months of each years income to the wasteful feds. Jago is just not an intelligent little guy and honestly I feel like you would simply hurt his feelings by further proving this.
It’s certainly not for me to tell you what to do - but I can ask... You don’t seem like the kind of guy that agitates the monkeys at the zoo just to see them sling poo. That’s really all you can accomplish here man.
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WTF is seriously wrong with Rob Z- yeah, our own 240 or bust, 240 is back, JAGO, etc etc. Just goes non stop on this anti-trumo shit every 4 years. Is it the failed website business, failed rock band, failed bodybuilding or failed marriage that is responsible?
What a truly messed up individual.
Dude - no shit the freak emailed me about meeting and LITERALLY comparing cawk size!!he said he would meet me in the wrong to wrestle (no striking for some reason) and the loser has to “service” the winner. He made some creepy comment that if he lost he wasn’t scared and would laugh at my “straight ass blowing so fast”
Who the fck messages that kind of shit???
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I'm an accountant in NYC with over 30 years servicing small to large sized businesses. Have worked for 2 of the top 3 accounting firms and have a large clientele that solely does real estate investments much like Trump.
Please educate me on how the tax system works. I'm not saying I know everything, because I don't. But one thing I know is how real estate developers get around taxes. Everything Trump has done is 100% legal. But please help me understand, because I might be overlooking something.
"1"
There's more to this story than what is or isn't legal. There's the question of his possibly inflating his net worth over a long period of time. You're an accountant. You know all about the bottom line. Also, if he owes millions more than he can pay, he could be in serious financial trouble. Of course it wouldn't be the first time for him. And most business people leverage their investments. It's their willingness to take risks that often accounts for their successes and sometimes their failures.
As for income tax filing, the majority of people take all the deductions they can, as well they should. However, should they be audited by the IRS, they better be able to back those deductions up. Tax evasion and fraud are serious business, which can land people in jail when caught. Historically, the IRS has been more apt to go after the 'big fish'. Broke or not and Trump is a whale....of a catch.
IMO, Trump is a 'flimflam man' and he's a lot of smoke and mirrors. When he falls, he is likely to fall very hard.
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I'm an accountant in NYC with over 30 years servicing small to large sized businesses. Have worked for 2 of the top 3 accounting firms and have a large clientele that solely does real estate investments much like Trump.
Please educate me on how the tax system works. I'm not saying I know everything, because I don't. But one thing I know is how real estate developers get around taxes. Everything Trump has done is 100% legal. But please help me understand, because I might be overlooking something.
"1"
;D
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There's more to this story than what is or isn't legal. There's the question of his possibly inflating his net worth over a long period of time. You're an accountant. You know all about the bottom line. Also, if he owes millions more than he can pay, he could be in serious financial trouble. Of course it wouldn't be the first time for him. And most business people leverage their investments. It's their willingness to take risks that often accounts for their successes and sometimes their failures.
As for income tax filing, the majority of people take all the deductions they can, as well they should. However, should they be audited by the IRS, they better be able to back those deductions up. Tax evasion and fraud are serious business, which can land people in jail when caught. Historically, the IRS has been more apt to go after the 'big fish'. Broke or not and Trump is a whale....of a catch.
IMO, Trump is a 'flimflam man' and he's a lot of smoke and mirrors. When he falls, he is likely to fall very hard.
Still your President.
Cankles lost.
So will Plugs.
Hope this helps.
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Orange Julius must have hard working accountants to protect the money his father earned and gave to him.
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Orange Julius must have hard working accountants to protect the money his father earned and gave to him.
If you had ever met your father, would he have given you any money?
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Yellow JAGO & PEDO defender Saggy should get together ;D
OBW, they both donate salaries to charities , just like Mr.Trump ;)
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If you have inc or are a corporation you dont have to pay taxes because corporations are backed by the gov
Completely false.
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Completely false.
look up americas corporate top 10 tax avoiders
Youll see
GE
Verizon
Boeing
Not only did they avoid paying tax they got refunds
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A bombshell New York Times investigation has offered the most conclusive proof yet that US President Donald Trump's business empire is nowhere near as successful as he claims. Trump has for years cited his business acumen as a defining trait, and one that gave him an advantage over others seeking the presidency.
"I did a lot of great deals, and I did them early and young. And now I'm building all over the world, and I love what I'm doing," he said when he announced his presidential bid in June 2015. "I'm really proud of my success. I really am."
But that picture has been complicated in the years since the former host of "The Apprentice" was catapulted into the political spotlight. News reports have drawn attention to Trump's history of corporate bankruptcy and the outsized role his father played in his financial success.
On Sunday, the New York Times published the deepest dive ever into the US president's finances, citing detailed tax records that the newspaper says "portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses."
The tax returns for Mr. Trump and hundreds of his businesses reveal the hollowness, but also the wizardry, of the self-made-billionaire image honed through 'The Apprentice,'" the Times concluded. "They demonstrate that he was far more successful playing a business mogul than being one in real life."
Trump on Sunday denied the New York Times story and claimed that he pays "a lot" in federal income taxes. "I pay a lot, and I pay a lot in state income taxes," he said. A lawyer for the Trump Organization, which manages the president's family businesses, told the Times that "most, if not all, of the facts appear to be inaccurate."
Here's a look at what the Times investigation revealed:
Trump paid no or little federal income taxes for years- According to the Times, he paid no federal income taxes in 11 out of 18 years the newspaper examined. He also managed to pay federal income taxes of just $750 in each of the first two years of his presidency, 2016 and 2017. The report shed some light on how this was able to happen, namely by the way his businesses reported their earnings.
Throughout his career, Mr. Trump's business losses have often accumulated in sums larger than could be used to reduce taxes on other income in a single year," the Times reported. "But the tax code offers a workaround: With some restrictions, business owners can carry forward leftover losses to reduce taxes in future years."
Many of his businesses are burning huge piles of cash - According to the investigation, some of Trump's companies are doing well and profitable; others, not so much. Some of his best-known ventures "report losing millions, if not tens of millions, of dollars year after year," according to the Times. That includes his famous golf courses — which have reportedly racked up at least $315 million in losses over the past two decades.
For example, Trump's golf resorts at Turnberry and Aberdeen in Scotland lost over £11.8 million ($15.2 million) in 2018, company records show, and lost money the previous year too. British labor union RMT said Friday that Trump now plans to lay off up to 80 workers at Turnberry, or roughly 17% of its workforce, and cut salaries and working hours despite receiving UK government wage subsidies during the pandemic -Trump Turnberry did not respond to a request for comment on RMT's claims.
Trump Tower in New York is a major moneymaker - The storied skyscraper, which sits on Manhattan's Fifth Avenue, has "reliably delivered more than $20 million a year in profits, a total of $336.3 million since 2000," according to the Times. Trump's stake in two office towers in New York and San Francisco has also worked out well, delivering $176.5 million as of the end of 2018, the publication reported.
Trump's D.C. hotel is not - The Trump International Hotel in Washington D.C., which reportedly asked for relief on rent payments earlier this year due to the coronavirus pandemic, has lost more than $55 million since opening four years ago, the Times reported. The property has come under intense scrutiny in recent years amid allegations that Trump was unfairly profiting from his presidency.
He made money from foreign deals after becoming president- When he took office, Mr. Trump said he would pursue no new foreign deals as president," the Times reported. "Even so, in his first two years in the White House, his revenue from abroad totaled $73 million."
Trump had extensive foreign business interests before he became president, leading to questions about potential conflicts of interest. As of 2016, for example, his financial disclosures listed more than 140 companies that had dealings in at least 25 countries around the world, according to a CNN review.
Need I go on?
Bottom line is that most people on GetBig have more equity than the orange idiot. Everyone who votes for or has voted for the orange idiot need only hit the sunbeds, because they are already half way there.
J
Yes, go on. I stopped reading after “Bombshell, NY Times”
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And then there’s this...
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No one is accusing Trump of doing anything illegal. If you pay more to the government than you are legally required to pay then you are a fool. Trump, or at least his accountants, know their tax laws. Good for them.
The issue should be the type of tax system we have. It's so convoluted and complicated that it allows the rich and savvy to exploit the various loopholes. If we had a consumption tax then everybody pays their "fair share" -- even those engaged in the black market and illegal transactions.
We all have to buy things.
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The media promised that President Trump’s tax returns would reveal deep ties to Russia.
Didn’t happen!
Know whose finances would reveal deep ties to Russia?
Hunter Biden.
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This is a good listen
https://www.facebook.com/officialbenshapiro/videos/1049989002125614/?vh=e&extid=AXZxj9BuJAMtAiLF
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The majority of people on this board are a special kind. The kind that burned women at a stake because the Church has told them so. Trump is their church. When he loses in November they will have a fake reason why he lost and will complain for the next eight years. Unreal, but has been happening for millenia. Inadvertently, the light always wins.
Evoluton and natural selection always choose the smart, the strong and the patient!
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So a really rich guy didn't paid that much in taxes? Zzzzzzzzzzz
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The majority of people on this board are a special kind. The kind that burned women at a stake because the Church has told them so. Trump is their church. When he loses in November they will have a fake reason why he lost and will complain for the next eight years. Unreal, but has been happening for millenia. Inadvertently, the light always wins.
Evoluton and natural selection always choose the smart, the strong and the patient!
When have Republicans ever protested, rioted, and screamed in the streets when their side lost? When have they ever contested the results like Gore did? Remember it was Hillary that said that Joe Biden should not concede under ANY circumstances.
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look up americas corporate top 10 tax avoiders
Youll see
GE
Verizon
Boeing
Not only did they avoid paying tax they got refunds
That has nothing to do with being an inc or corp being backed by the gov't. I can assure you they file and pay taxes just like everyone else. The ones you listed most likely had expenses and deductions that was claimed to be higher than profits. Which will result in a refund no matter how the business is structured or filed as. It doesn't mean they were exempt from it. My gf runs her businesses through both an S-Corp and an inc (and property management through an LLC), and for the S-Corp alone she pays $16,000 per quarter.
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When have Republicans ever protested, rioted, and screamed in the streets when their side lost? When have they ever contested the results like Gore did? Remember it was Hillary that said that Joe Biden should not concede under ANY circumstances.
LOL at all the libtardz ^^^
Pellius, keep owning these clowns. 8)
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I'd like to see the NYT look at the top 1000 richest people in America and see how much they paid in taxes. I'm sure it's close to $0 as well. Don't hate on them but hate on the IRS system that enables this and allows it.
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Didnt wesley snipes have the same accountant ;D
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Story’s been out for 15min and of course libtards believe it 😂😂😂
Eat (another) dick JAGO
And a day later....the story is debunked. Stupid libtards
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What taxes did the Biden family pay on the illegal payments they received from foreign countries and companies?
What taxes did the Clinton family pay on the illegal payments received and withdrawals made from the Clinton Foundation?
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Another JAGO thread backfire
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They are just going to roll these stories out one after the other until the election. The media will back every Biden story and "fact check" every negative story about Biden.
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What taxes did the Biden family pay on the illegal payments they received from foreign countries and companies?
What taxes did the Clinton family pay on the illegal payments received and withdrawals made from the Clinton Foundation?
Dude, are you fucking crazy???? Don't call out the Clintons or you could get Epsteined.
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Dude, are you fucking crazy???? Don't call out the Clintons or you could get Epsteined.
Only libidiots give the Clintons any power any more.
They’re as flaccid and useless as the dick Primehomosexual just pulled out of his ass.
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Yellow JAGO & PEDO defender Saggy should get together ;D
OBW, they both donate salaries to charities , just like Mr.Trump ;)
I don't earn a salary. For that you have to have a job. I am retired. I donate part of my retirement income to charity.
"According to news coverage and White House news releases, Trump has written checks equal to a quarter of his $400,000 annual salary every quarter to various government agencies."
Trump earns income in addition to his salary.
"Trump once again made money like a king in 2018, claiming nearly $434 million in income, according to a report released by the White House on Thursday."
https://www.usatoday.com/story/news/factcheck/2020/07/11/fact-check-donald-trump-donates-salary-but-he-still-makes-money/5410134002/
https://www.newsweek.com/heres-breakdown-president-trumps-434-million-income-2018-1428521
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https://www.newsmax.com/t/newsmax/article/989227?ns_mail_uid=6ed30507-5585-4a9c-85f9-ddde72800842&ns_mail_job=DM150248_09292020&s=acs&dkt_nbr=0105040auyak&fbclid=IwAR1qu6jO5BdbN5AAki0_bwyuxVOGMZ1z-efeZ4M1W840D_2sQJTtscUD-BA§ion=morris&keywords=refund-withheld-paychecks&year=2020&month=09&date=28&id=989227&oref=m.facebook.com
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The majority of people on this board are a special kind. The kind that burned women at a stake because the Church has told them so. Trump is their church. When he loses in November they will have a fake reason why he lost and will complain for the next eight years. Unreal, but has been happening for millenia. Inadvertently, the light always wins.
Evoluton and natural selection always choose the smart, the strong and the patient!
Really, looks like mother nature never ever select Serbs , they allways get smashed by others ;D