Trump On Taxes ‘I Pay As Little As Possible’

Posted by | August 3, 2015 10:00 | Filed under: Politics

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The Donald told CBS he tries to get away with paying “as little as possible” when it comes to taxes.

“I fight like hell to pay as little as possible for two reasons. Number one, I’m a businessman. And that’s the way you’re supposed to do it,” Trump said in an interview with CBS’ “Face the Nation.” “The other reason is that I hate the way our government spends our taxes. I hate the way they waste our money. Trillions and trillions of dollars of waste and abuse. And I hate it.”

Trump has not yet released his tax returns, but said he has “no major problem” with doing it. And he said he may tie a release of his tax returns to a release of Democratic candidate Hillary Clinton’s emails from her time as secretary of state.

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Copyright 2015 Liberaland
By: Alan

Alan Colmes is the publisher of Liberaland.

85 responses to Trump On Taxes ‘I Pay As Little As Possible’

  1. Annie August 3rd, 2015 at 10:15

    He is nothing but a horse’s ass.

    • whatthe46 August 3rd, 2015 at 10:19

      and then some.

    • The Original Just Me August 3rd, 2015 at 10:58

      True he does a lot in common with a Palomino Horse’s Ass like his comb forward hair do. But, I don’t agree with the nothing But part. He also keeps us laughing like a good comedian should.

      • Annie August 3rd, 2015 at 11:02

        True that

        • linda hanna August 3rd, 2015 at 11:34

          He who laughs last laughs best. Wait and see.

          • The Original Just Me August 3rd, 2015 at 11:38

            I see that you are one of those paid for comments people. Go suck an egg.

          • jasperjava August 3rd, 2015 at 23:31

            You’re a Trumpnik? I feel sorry for you. It must be awful to live with severe intellectual disabilities.

  2. Foundryman August 3rd, 2015 at 10:28

    But he’ll take government subsidies and grants, gov. backed low interest loans as much as possible.

    • Joe Carey August 3rd, 2015 at 10:47

      Well, yeah… he’s a businessman…

      • Foundryman August 3rd, 2015 at 11:09

        LOL…now that’s funny

        • linda hanna August 3rd, 2015 at 11:34

          What’s funny is the low information folks like yourself who don’t understand economics 101. Would you prefer Communist China? Oh wait, you probably would, redistribution of wealth and all. haha

          • The Original Just Me August 3rd, 2015 at 11:44

            At least we don’t want or push your Nazi programs.

          • Foundryman August 3rd, 2015 at 11:53

            The difference between communist china and here is “businessmen” don’t go begging for government handouts in China, then pretend they are “self made rugged individualists”.

          • jasperjava August 3rd, 2015 at 23:29

            You’re pretty ignorant if you haven’t realized yet that “Communist” China is the most capitalist place on earth, and has been for decades now.

        • FatRat August 3rd, 2015 at 15:36

          http://www.quickmeme.com/img/87/87d03068bd57a87df15561acbbf60c0d6d53361f7272b602c87b7bb8b5c5eb11.jpg

    • linda hanna August 3rd, 2015 at 11:33

      Wouldn’t you?

      • The Original Just Me August 3rd, 2015 at 11:43

        Unlike your type, some people have ethics.

      • Foundryman August 3rd, 2015 at 12:04

        No. Real American free market capitalists assume the risks of their business themselves, not put it on the taxpayers, that’s ahem…socialism.
        Real free market capitalists pay those they employ enough to avoid government welfare programs. People like Trump use them to supplement their labor costs. Low information people like yourself must not know that or choose to ignore it. Now run off to Wal-Mart and make your life better.

      • anothertoothpick August 3rd, 2015 at 16:17

        If I believed there was no such thing as the “common good” yes I would.

        cons like you do not believe there is any such thing as the common good.

  3. Hirightnow August 3rd, 2015 at 10:33

    ‘I Pay As Little As Possible’
    Because you love America,right?

    • StoneyCurtisll August 3rd, 2015 at 21:02

      Fist bump and a High Five~!…]
      You be me to it…
      I was goin to post that..:)

  4. anothertoothpick August 3rd, 2015 at 11:07

    If this jerk off pays any federal taxes, which I doubt, believe me his rate is a lot lower than the working class people. The people that actually create the wealth this guy is swimming in.

  5. rg9rts August 3rd, 2015 at 11:30

    Big deal….does anyone pay MORE taxes than they have too???Please raise your hand

    • The Original Just Me August 3rd, 2015 at 11:38

      I pay more than I want to. Does that count ?

    • jmg09 August 3rd, 2015 at 16:07

      No, but it sounds like a lot of the wealth envy crowd think others should pay more. (Notice, they’re not volunteering themselves.)

      • rg9rts August 3rd, 2015 at 16:16

        What I don’t get is why try to demonize the Donald for doing what everyone does?

        • Dwendt44 August 4th, 2015 at 12:52

          Perhaps it because he rubs it in everyone’s noses. Flaunts it and brags about it.

          • rg9rts August 4th, 2015 at 14:07

            If ya got it flaunt it baby….Max Biawostok the Producers

  6. linda hanna August 3rd, 2015 at 11:31

    Why on earth would anybody want to pay MORE taxes than they have to? Go Donald!

    • The Original Just Me August 3rd, 2015 at 11:42

      You are the one the needs to go—–Far, far, away.

    • Dwendt44 August 3rd, 2015 at 12:14

      When it’s in your best interest to do so. Take Mitt Romney. His tax returns has him paying 14% tax on his ‘income’. Of course, after the election, he ‘amended’ his return and got the rate down to 9%.

      • illinoisboy1977 August 3rd, 2015 at 12:51

        That’s not tax on income, it on capital gains. When he cashes it out, he’ll have to pay the difference in “income” taxes. No one’s cheating the system, the system says it’s perfectly legal. Therefore, he’s paying his fair share because the law says so.

        • bpollen August 3rd, 2015 at 16:07

          Income – money received, especially on a regular basis, for work or through investments.

          Capital gains ARE income.

          • Dwendt44 August 3rd, 2015 at 17:00

            Cap Gains should be taxes the same as interest income. You still save a bunch because there’s no SS or Medicare taken out. While Capital Gains special treatment may have been a good idea, it’s currently largely a scam on the average tax payer.

            • Budda August 4th, 2015 at 13:32

              I have been an advocate for a sliding tax rate on Capital gains, i.e. if you hold the stock for , say 5 or 7 years there should be zero capital gains, however if you buy a stock at 10AM and sell at 2PM maybe 95% would be appropriate. Quick sales are gambles not investments. Also you shouldn’t get voting rights ( for board of directors etc.) until after you have held the stock for a year or so.

              Just an opinion and yes, I do pay capital gains each year. I’m sure a discussion will follow.

          • illinoisboy1977 August 4th, 2015 at 10:31

            No, they aren’t. Capital gains are often rolled back into the investment portfolio. It’s only when they’re liquidated and a check is deposited/cashed, that income taxes apply. Basically, you pay the lower tax on the money, to keep it in the stocks. When you take that money as cash, you then pay income tax on it, minus what you already paid in capital gains tax.

            • bpollen August 4th, 2015 at 14:49

              By definition, capital gains ARE income. You may not pay the SAME rate, but capital gains ARE taxed. For those earning around 70K or less filing jointly, you get taxed at 0%. But that only accounts for about 6% of all capital gains. 94% of capital gains go to the top 20% of incomes. Those capital gains are TAXED! At rates from 10-20%.

              Here’s Charles Schwab, Inc. proving you wrong:

              http://www.schwab.com/public/schwab/nn/articles/Taxes-Whats-New

        • jasperjava August 3rd, 2015 at 23:15

          It’s obscene that a greedy billionaire pays less tax on income he receives as capital gains while sitting on his ass, while a middle class person who earns his bread from the sweat of his brow has to pay more.

          If anything, capital gains ought to be taxed at DOUBLE the rate of earned income. Not less.

          • illinoisboy1977 August 4th, 2015 at 10:08

            Capital gains are taxed at a lower rate, until liquidataion. When you cash out an investment, you then pay full income tax on the money you receive, minus what you already paid out in capital gains tax. So, the “greedy billionaire” still has to pay full taxes, when he gets the money from his portfolio. It’s no different than when you cash out money from a 401K. If you tax investments at a higher rate than income, people won’t be as eager to invest in new business ventures and products, because having a regular job is more lucrative than investing in a corporation. Less investment means less innovation, because there’s less money for R&D. The lower tax is what helped all these wonderful technological advancements come into being, by incentivizing financial investment.

            • Dwendt44 August 4th, 2015 at 12:50

              No one has suggested paying a higher tax in Cap Gains. It should be taxed like any other income. Interest income is taxed at the regular rate, yet people still save; buy savings bonds and CDs, etc..
              And short term Cap Gains is taxed higher than long term, and much of the money the rich is moving around is in short term, so the rate is higher. Yet they advocate cutting that tax rate too. In their little world, they would like it if once you made a million, the rest would not be taxed at all.

              • illinoisboy1977 August 4th, 2015 at 13:53

                I hate to let go of money, myself. I don’t blame anyone for wanting to minimize their tax burden, as long as it’s done within the confines of the law.

    • Foundryman August 3rd, 2015 at 12:27

      It’s not about paying more than you have to. It’s about paying your fair share.

      • jmg09 August 3rd, 2015 at 16:06

        As defined by whom? And for God’s sake, please stop using tired old tag lines lines like “fair share”.

        • jasperjava August 3rd, 2015 at 23:18

          As defined by the Buffett rule. It’s obscene that a billionaire pays less tax as a percentage of his income than his chauffeur or his secretary. If you think THAT’S normal, you’re the one with the screwed up view of the world.

          • jmg09 August 4th, 2015 at 08:14

            LOL, Buffett doesn’t, and rich people don’t. Buffett, like everyone else in the country, pays a lower capital gains rate than income tax. You’re comparing apples and oranges.

            • jasperjava August 4th, 2015 at 10:01

              Buffett recognizes this. That’s how he came up with the Buffett rule.

              I don’t get your apples.to.oranges comparison. Income is income, whether it comes from work or from capital gains. It should be taxed at the same rate.

              • jmg09 August 4th, 2015 at 12:02

                “I don’t get your apples to oranges comparison” Clearly.

                From TaxFoundation.org…

                The justification for a lower tax rate on capital gains relative to ordinary income is threefold: it is not indexed for inflation, it is a double tax, and it encourages present consumption over future consumption.

                First, the tax is not adjusted for inflation, so any appreciation of assets is taxed at the nominal instead of the real value. This means investors must pay tax not only on the real return but also on the inflation created by the Federal Reserve.

                Second, the capital gains tax is merely part of a long line of federal taxation of the same dollar of income. Wages are first taxed by payroll and personal income taxes, then again by the corporate income tax if one chooses to invest in corporate equities, and then again when those investments pay off in the form of dividends and capital gains. This puts corporations at a disadvantage relative to pass through business entities, whose owners pay personal income tax on distributed profits, instead of taxes on corporate income, capital gains, and dividends. One way corporations mitigate this excessive taxation is through debt rather than equity financing, since interest is deductible. This creates perverse incentives to over leverage, contributing to the boom and bust cycle.

                Finally, a capital gains tax, like nearly all of the federal tax code, is a tax on future consumption. Future personal consumption, in the form of savings, is taxed, while present consumption is not. By favoring present over future consumption, savings are discouraged, which decreases future available capital and lowers long term growth.

                • Dwendt44 August 4th, 2015 at 12:38

                  Sounds like a lot of conservative hooey.

                  • Budda August 4th, 2015 at 13:24

                    I wonder how much jmg09 is worth, probably a pittance compared to Trump.

                • jasperjava August 4th, 2015 at 12:57

                  These justifications ring hollow in a system where more and more wealth is being concentrated at the very top, while wage-earners are forced to pay a larger share of their income in taxes than millionaires and billionaires.

                  While there is some merit to the economic reasons for a lower tax rate for capital gains, it’s hard to escape the conclusion that the robber Baron class has set up a very convenient system for themselves. You can argue for the rich all you want, but the results don’t lie: the rich are getting richer, while the poor and the middle class are getting squeezed. This suggests a complete rethink of a tax code that tends to help the concentration of wealth in the hands of the few, rather than in those whose labor actually creates the wealth.

                • Budda August 4th, 2015 at 13:22

                  Stop with the double tax nonsense. How do you think society would be able to function if you only paid tax once ( on the income you earned in salary?) That is a totalyl greedy nonsensical statement.

        • Foundryman August 4th, 2015 at 16:12

          As defined by the conditions and needs of society, aka the common good, if you want the ‘greatest country in the world’, you have to pay for it.
          Is that what that is? A tag line? Funny how even mentioning fairness, equality, justice etc. makes you guys want to squirm. Being forced to think about the needs of others makes you want to go into convulsions, I bet you think you’re a christain too right?

          • jmg09 August 4th, 2015 at 17:16

            Wow, so many things wrong with that post. There’s the belief that government is the answer to all the problems, the belief that this country’s achievements were due to government (Hint: it was the freedom recognized by the government that allowed people to achieve). I’m all for fairness, equality (of opportunity), justice, etc. What I’m not for is people regurgitating things they heard on TV over and over. Have an intelligent thought of your own.

            And no, I’m not a Christian. And you’re a douche for saying that, but that’s typical. You have to lump everyone into their little category for your convenience. I bet you’re a giant douche too right?

  7. linda hanna August 3rd, 2015 at 11:32

    So it matters not that he employs thousands? Why would anyone volunteer to pay more taxes. If you don’t like his tax rate, speak to your democrats in congress about it.

    • The Original Just Me August 3rd, 2015 at 11:42

      He employees thousands of illegals AT MINIMUM WAGE or below. Typical Right Winger’s Nut.

    • anothertoothpick August 3rd, 2015 at 14:10

      Linda. As we speak we are not paying taxes under any “democrats” tax rate.

      We are stuck on the VooDoo economics of supply side economics, which never has worked for working class folks.

      You know, the tax rate where all the wealth gains travels up and never trickles down?

      I would favor the Roosevelt tax rates where anything over a re-DICK-u-lous amount of income should be taxed at 90%. At those rates the middle class actually grew. We had 40 years of middle class growth at those rates.

      But to answer your question Linda hanna I am glad he employs people. And so is he. Without those people that are willing to work for him he would be begging on the streets. That… and the billions his father left him.

  8. The Original Just Me August 3rd, 2015 at 11:40

    You don’t have to pay taxes on barrowed money so he probably doesn’t pay any taxes. You are correct.

    • anothertoothpick August 3rd, 2015 at 14:27

      You are not saying that the the rich guys have gamed the system ….are you Original?

      • The Original Just Me August 3rd, 2015 at 21:53

        Nobody who has gotten seriously rich ever did it with their own money. They always gamble with other peoples money and keep theirs in their pocket.

  9. labman57 August 3rd, 2015 at 12:14

    Engaging in nefarious accounting practices in order to avoid paying federal taxes is a fundamental component of Trump’s view of “good ol’ American capitalism”. Behavior which most people would regard as unethical is quickly dismissed by Trump, Romney, and other corporate bullies as being shrewd.

    Republican response to the outrage? “It’s how we roll. Get over it!”

    • Dwendt44 August 3rd, 2015 at 12:15

      The rich use well paid ‘creative’ accountants to do their income taxes.

  10. illinoisboy1977 August 3rd, 2015 at 12:48

    There’s nothing wrong with taking advantage of the tax code and finding every little deduction and exemption you can. I’ve been itimizing and doing that for years. I’ve been audited twice and have been found to be in good standing and well within the law, both times. If anyone has a problem with so many exemptions and deductions, it’s not the taxpayer who’s at fault. It’s the tax code. Yes, I deduct every PENNY I can.

    • eyelashviper August 3rd, 2015 at 13:41

      Just because some things are legal, do not make them the right thing to do. When someone like Trump, who brags about his billions, spends money on gold fixtures in his abodes and planes, strong arms those with less clout (as he has done in real estate, and certainly in Scotland, where he bullied locals and built a golf course on fragile coastal property, etc.), and calls people “losers” when they confront him, pays smaller percentages of taxes than hard working people who struggle to get by, then he should be called out for his avarice and lack of civic responsibility.

      • jmg09 August 3rd, 2015 at 16:03

        I’m not a fan of Trump, but are you seriously saying that if someone is rich, they should pay more than they are required to by the tax code? I’d rather see them reinvest in their business, donate to charity, buy things so that other hard working people can share in the wealth. Any number of things would be better than giving more than is owed to the government.

        • eyelashviper August 3rd, 2015 at 16:31

          Funny how not all rich people spend a fortune on a cadre of tax attorneys to save every red cent, yet others do not, and understand that paying taxes, especially when they are so well off, is a responsible thing to do.
          The greed of Trump and his ilk is a cancer on civilization.

          • jmg09 August 3rd, 2015 at 19:46

            Wow. I don’t know what else to say to someone with that screwed up a view on the world.

            • Dwendt44 August 4th, 2015 at 12:35

              Nothing screwed up about it. This country has made it so that the rich can get even richer, you’d think that they’d appreciate that by paying taxes without cheating, fudging, or hoarding their wealth in tax havens like the Cayman Islands.

        • Budda August 4th, 2015 at 13:17

          sounds good, however they don’y spend it on ‘things’, they already have everything they want or need. Charity? Humph, most contribute proportionally less than poor people. They hoard their money in tax havens and off shore accounts. The money literally is taken OUT of the economy.

      • illinoisboy1977 August 4th, 2015 at 10:37

        The opinions of others don’t define our “civic responsibility”. The law has the final word on what’s “right” or “wrong” in business. As long as someone is within the law, I have no business telling them what they should or shouldn’t do with THEIR money. If a billionaire wants to put gold fixtures in his home, I have absolutely no standing to tell him that’s wrong. It’s not my money, it’s his.

  11. amersham46 August 3rd, 2015 at 20:42

    The Helmsey Theorem , Rich people don`t pay taxes

  12. StoneyCurtisll August 3rd, 2015 at 20:57

    If trump had to pay the 90% of his income, he would still be a multi-Billionaire..
    What is he worried About?..
    being short on money?

  13. William August 3rd, 2015 at 23:49

    Yeah but just look at all the jobs that were created by the Bush tax cuts.

    • Dwendt44 August 4th, 2015 at 12:28

      And wonder why there are so many poor people.

  14. jasperjava August 3rd, 2015 at 23:50

    Trump strikes me as the type of “shrewd businessman” who would pay a tax lawyer $10,000 if it could save him a hundred bucks in taxes.

    And he would brag about it afterwards.

  15. Tommie August 4th, 2015 at 00:22

    When you have the type of lawyers he has, they know all the loopholes to give him the minimum amount to pay!

  16. robert August 4th, 2015 at 00:25

    I WILL BE THE BEST PRESIDENT GOD HAS EVER CREATED..I TELL YOU THIS

    but..but..but god never created a president

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