At what point did I come across as pro taxes, regulations, etc? Trump forcing the pipeline to be built by American steel is ********. It will quietly go away.
Rover pipeline approved
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Maybe, maybe not. I feel more comfortable with him negotiating than a career bureaucrat who has never paid matching SS.
I don't want a trade war, but do we let them continue with zero retribution? We have many ways to counter their manipulation. Work with allies to grant the IMF and/or WTO more authority on this issue. Another approach is import quotas to even out the currency manipulation. If we do nothing, China's behavior will never change.
Are you really that much of a homer to think that his companies, in paying salaries for himself and all his employees have not paid into sS? How many people work for him? It's not an abstract thing when he talks about business but when a community organizer who has hung out with anarchists all his life, it is abstract when he talks about jobs.
I believe his companies have paid in to SS. I said Trump has not and I'll stand by that, but I'm glad you got to bring Obama up for to make yourself feel better(?). Has no relevance to anything in this thread.
This is not a quota. This is an agreement reached between Trump and the pipelines. He gets the pipelines approved, they use American steel. No quota. It's called a deal and the pipelines could have refused.
What is your basis for making this claim? Any factual basis or just a guess? Do you understand tax law in this area? Do you understand tax law for the types of partnerships/corporations Trump employs?
Guess. Based on the 1 year of tax returns leaked and the assumption Trump's accountants have a functioning brain. I do understand tax laws for partnerships/corps/scorps and real estate professionals.
Hmmmm. I think we have 2 different topics going on in this thread. I mentioned quotas failing in response to this quote from you: "I don't want a trade war, but do we let them continue with zero retribution? We have many ways to counter their manipulation. Work with allies to grant the IMF and/or WTO more authority on this issue. Another approach is import quotas to even out the currency manipulation. If we do nothing, China's behavior will never change."
Had nothing to do with the pipeline, imo.
I guarantee he has paid the max every year for a long time. Unlike the child molester HarryReid, I know he has. There's no way around it he has made over 125,000 every year.
SS taxes are paid based on individual earnings. If you are employed you pay half and the company matches. If you are self employed, you pay the full amount. Thus, in Trump's partnerships, he is considered self employed. He therefore pays roughly 15% in SS taxes on his share of earnings paid to him by that partnership. For his C corps, he pays roughly 7.5% on his salaried earnings, but if he owns the company then his company matches, which means he and his company pay the full 15%. If he has multi-member LLC's they are treated as Partnerships and he pays the full 15% on all LLC income attributed to him.
Again, not sure how you can conclude he pays no SS taxes, unless all of his companies lose money.
I thought you were referring to the pipeline. If China continues manipulation, we must take action. It's all about leverage. Bills have been proposed to punish China for this action, including import quotas and tariffs to equalize the currency manipulation. Others feel that more power should be invested in either/or the IMF and the WTO to establish penalties for all.
I am ok with any of this if it stops the unfair manipulation.
lol. Thanks, I had no idea. What you said makes sense for 99.9% of Americans. Donald Trump, fortunately for him, does not fall in to that camp. Again, based on the huge loss from the leaked year and the field he works in, I'll stand by my guess. Once he releases his tax returns we'll get it all figured out.
My wife took real estate professional. "She" not me, owns 4 rental properties. That's what's wrong with our tax code. Buffet gets all his money in dividends so he doesn't have to pay income tax, only capital gains.
Neither the dividend nor the capital gains tax has anything to do with Social Security taxes. Capital gains are taxed at 20%. Dividends are normally taxed at ordinary income except in special circumstances regarding qualified dividends.
And don't forget, the corporation pays taxes on all its income. Some of it's income could then be distributed to owners in the form of dividends which is taxed yet again. That is double taxation on the same amount of income. First at the corporate level then at the individual level.
As for capital gains being taxed at a favorable rate, that is because we have decided that the formation of capital to start and grow businesses is very, very important to our economy. So we try and encourage people to save and invest to help grow the economy and jobs. Capital formation is critical to these two goals. And keep in mind, capital gains are not indexed for inflation. So if I own a property for 10 years, The original investment I made in dollars is not increased by inflation on an annual basis. Thus my capital gain it's much larger than it would be otherwise and the corresponding taxes much higher.
No, capital gains are taxed at 20%. But you make a great point. I did not include state taxes in that calculation.