2016 Presidential Horse Race

[pkt77242]

Not agreeing or disagreeing with you, but do we know this for sure? Do other billionaires get audited less frequently? When you're making that much money each year I would think maybe the IRS would want to keep a closer eye on you than your average Joe.

There is no doubt that rich people get audited more frequently than people who make less but 7 years straight seems pretty odd.

2011/2014.

 

[BGIF]

Why? Most of the times in our political system, the winners get to make the changes. Handicapping yourself while the other team doesn't have to follow the handicap just means that you are more likely to lose and then less likely to get the change you want.

Once again you dodge the hypocrisy of the "party of the people" living like a commissar while preaching re-distribution.

Speaking of winners making changes:

Why didn't FDR with full control do so?

Or Obama when he and Nancy had control?

Or any other Democratic president in between?

 

[MJ12666]

There is no doubt that rich people get audited more frequently than people who make less but 7 years straight seems pretty odd.

2011/2014.

It may be odd but if they had found anything irregular or illegal they you have prosecuted him.

 

[NorthDakota]

There is no doubt that rich people get audited more frequently than people who make less but 7 years straight seems pretty odd.

2011/2014.

The same IRS that got into some hot water about targeting groups of a certain political persuasion?

 

[ACamp1900]

The same IRS that got into some hot water about targeting groups of a certain political persuasion?

This wouldn't apply to Trump tho, certainly not over the last decade or so...

 

[gkIrish]

Why? Most of the times in our political system, the winners get to make the changes. Handicapping yourself while the other team doesn't have to follow the handicap just means that you are more likely to lose and then less likely to get the change you want.

Come on man. Democrats rip Donald for outsourcing while running on a platform that he will bring back jobs to America. No one is saying they can't do what they do, but that it's ridiculously hypocritical. I wish both parties would stop with the hypocrisy.

 

[connor_in]

story-watch-obama-refer-himself-119-times-during-hillary-nominatin

 

[pkt77242]

You're sounding like Trump's Financial Advisor now.



But the point wasn't doing something controversial, it's about doing that thing as common practice while lambasting the other guy for doing what you're doing.

Watch the video.

Do the Dems sing "Look for the union label" while their leaders dine on caviar and eggs?



Speaking of "Look for the union label" I remember that use to be a standard ad run multiple times during Democratic Convention Week. I haven't heard it lately. Off the 800,000 new jobs Obama was patting himself on the back for last night, how many are in the garment industry? Has he gotten any garment/textile jobs back that NAFTA Bill send out of country or was he just talking about fast food jobs and nail polish shop jobs last night?

Who cares about how many are in the garment industry (which by the way isn't coming back to the U.S. in any significant numbers because most of us don't want to pay $20+ for a plain t-shirt). Are you just upset because a Democratic President managed to add 800K jobs?

Also hitting Bill for NAFTA is kind of funny because, he didn't negotiate NAFTA, GHWB did, but again why worry about that, lets just blame Clinton and not Bush or even members of Congress (yep both Dem and GOP). Also NAFTA isn't the horrific thing that it is made out to be (and it isn't great either, lets call it mixed). As the article linked below states, many of the manufacturing jobs were likely to leave the US eventually, NAFTA probably accelerated it, but if not to Mexico then they were going to end up in China.
NAFTA, 20 Years Later: Do the Benefits Outweigh the Costs? - Knowledge@Wharton

 

[Ndaccountant]

Oh boy, dshans is going to shit...

hope he has his diaper on

 

[woolybug25]

Well a tax return does not include a balance sheet but that's okay. So you don't have to go on. But you seem to have looked at her returns closely. So how much did they contribute to charity over the past five years and approximately how many different charities did they make contributions to?

Except that in Trump's case, they absolutely do. He has to file a ITR-4 form in his return, which includes a balance sheet. I look at personal tax returns of high net worth individuals all of the time. But nice try.

You learn a lot from tax returns. With Nixon, we learned that he was a cheating bastard that paid $6k in taxes with over $790k of income. That he used shady techniques like donating his campaign speeches, etc to cheat the system. We weren't surprised when he returned to his shady ways in Watergate. With Clinton, we learned of Whitewater on a national level when Deputy White House Counsel Vincent Foster filed three years of delinquent Whitewater corporate tax returns (and ended up with a bullet in the back of his head). These were corporate returns of course, but just like we have Clinton Foundation returns, we should have access to Trump Enterprises as well.

 

[pkt77242]

Once again you dodge the hypocrisy of the "party of the people" living like a commissar while preaching re-distribution.

Speaking of winners making changes:

Why didn't FDR with full control do so?

Or Obama when he and Nancy had control?

Or any other Democratic president in between?

Well the Supreme Court dashed anything that Obama could do about campaign finance, so your beef should be with them. Either the Supreme Court's composition would have to change and overturn it (unlikely) or we are going to need a Constitutional amendment (which while unlikely is remotely possible).

Also funny but Democrats want to raise taxes on the rich, which by the way includes themselves (and many of the rich people who donate to them). Wanting to raise taxes on the rich and wanting to get money out of politics doesn't mean that you hate rich people or the wealthy.

As to FDR, I am not sure what the political donations were like back then and so I can't speak to that (and really there was other issues to worry about back then).

 

[connor_in]

 

[connor_in]

 

[pkt77242]

The same IRS that got into some hot water about targeting groups of a certain political persuasion?

Except that Trump was supporting Democrats up until a few years ago (2?), so care to try again?

 

[pkt77242]

It may be odd but if they had found anything irregular or illegal they you have prosecuted him.

I agree if they found anything illegal, but good tax attorneys and accountants are helpful to avoid it. The IRS wouldn't want to take on someone like Trump unless they had a smoking gun because he will hire great attorneys, and if you don't have all your ducks in a row you will lose (and most prosecutors don't want to take on cases unless they are very likely to succeed).

My guess is that there is some shady/irregular things that are showing up but nothing they can nail him with, so they keep auditing him every year hoping for a slip-up. Having said that, maybe he is just a complete dick to them every year (completely believable that he would be that way) and so they keep auditing him to piss him off.

 

[Wild Bill]

Except that Trump was supporting Democrats up until a few years ago (2?), so care to try again?

Trump endorsed both McCain and Romney.

Doesn't necessarily mean that's why the IRS audits him all the time. I have no idea why they target some people and treat others favorably.

 

[MJ12666]

Except that in Trump's case, they absolutely do. He has to file a ITR-4 form in his return, which includes a balance sheet. I look at personal tax returns of high net worth individuals all of the time. But nice try.

You learn a lot from tax returns. With Nixon, we learned that he was a cheating bastard that paid $6k in taxes with over $790k of income. That he used shady techniques like donating his campaign speeches, etc to cheat the system. We weren't surprised when he returned to his shady ways in Watergate. With Clinton, we learned of Whitewater on a national level when Deputy White House Counsel Vincent Foster filed three years of delinquent Whitewater corporate tax returns (and ended up with a bullet in the back of his head). These were corporate returns of course, but just like we have Clinton Foundation returns, we should have access to Trump Enterprises as well.

So do the Clinton's have to file a balance sheet?

 

[MJ12666]

Except that in Trump's case, they absolutely do. He has to file a ITR-4 form in his return, which includes a balance sheet. I look at personal tax returns of high net worth individuals all of the time. But nice try.

You learn a lot from tax returns. With Nixon, we learned that he was a cheating bastard that paid $6k in taxes with over $790k of income. That he used shady techniques like donating his campaign speeches, etc to cheat the system. We weren't surprised when he returned to his shady ways in Watergate. With Clinton, we learned of Whitewater on a national level when Deputy White House Counsel Vincent Foster filed three years of delinquent Whitewater corporate tax returns (and ended up with a bullet in the back of his head). These were corporate returns of course, but just like we have Clinton Foundation returns, we should have access to Trump Enterprises as well.

I must admit I was curious about this form. It is not listed on the IRS website which seems strange. Are you saying that this form is required as an attachment to form 1040?

 

[woolybug25]

So do the Clinton's have to file a balance sheet?

With their real estate holdings, I would assume they do.

The Clinton Foundation in particular certainly does. As far as I know, all of their assets are between those two entities. Trump has so many personal real estate dealings outside of the Trump Enterprises entity, that he will certainly be required to do so personally.

 

[pkt77242]

Trump endorsed both McCain and Romney.

Doesn't necessarily mean that's why the IRS audits him all the time. I have no idea why they target some people and treat others favorably.

He also gave Harry Reid money on 2009, Rahm Emanual money when he ran in Chicago, Kirsten Gillibrand in 2010, Schumer in 2009, Anthony Weiner in 2010 and the NY Democratic committee in 2010. It seems around 2012 or so is when he switched to donating almost exclusively to the GOP.

 

[Rizzophil]

New docs reveal irs targeted Tea Party sonce 2011

 

[MJ12666]

With their real estate holdings, I would assume they do.

The Clinton Foundation in particular certainly does. As far as I know, all of their assets are between those two entities. Trump has so many personal real estate dealings outside of the Trump Enterprises entity, that he will certainly be required to do so personally.

The Clinton's return did not include a balance sheet but they do claim 25% of there home as part of their business and do take depreciation expense on their schedule C. Also between 2009-2014 they claimed $10.3M in charitable deductions of which 99% went to the Clinton Foundation. I am pretty sure the Foundation hired some key campaign personnel when she dropped out of the 2008 race. I wonder if some of this money went to pay for their salaries. This would be pretty slick. Getting an immediate deduction on their personal return which she would not get if she paid them directly while they worked in advance planning her 2016 campaign. No evidence of this but it would not surprise me. Also, they reported significant (app $16M) income from Laureate Education Inc. No indication from the return exactly what was done to earn this money.

 

[BGIF]

There is no doubt that rich people get audited more frequently than people who make less but 7 years straight seems pretty odd.

2011/2014.

Interesting chart

Audits have dropped considerably between '11 and '14. In '11 IRS audited 72.5% of the multimillionaires and higher. In '14 IRS only audited 33%. That's a more than a 50% reduction in audits among the big bucks crowd.

Was that drop due to Lois Lerner and company spending so much time on conservative 503 corp applications?

Curiously the only category where audits when up in that chart was the No AGI group which went from 3.42% to 5.62%, a 53.8% increase. Did the IRS finally read the articles about the dozens and hundreds of No AGI returns refunds going to the same P.O Box numbers?

It is kind of strange to see audits dropping substantially in every category except the No AGI. That's a decrease in audits in 10 of the 11 categories.

 

[Irish Insanity]

Guys, let's stop all the bickering.
Let's Make America Great Again!

 

[ACamp1900]

Guys, let's stop all the bickering.
Let's Make America Great Again!

With food discussions???

 

[connor_in]

With food discussions???

Dammit I posted Spider-Man waffles earlier this week already!

 

[pkt77242]

Interesting chart

Audits have dropped considerably between '11 and '14. In '11 IRS audited 72.5% of the multimillionaires and higher. In '14 IRS only audited 33%. That's a more than a 50% reduction in audits among the big bucks crowd.

Was that drop due to Lois Lerner and company spending so much time on conservative 503 corp applications?

Curiously the only category where audits when up in that chart was the No AGI group which went from 3.42% to 5.62%, a 53.8% increase. Did the IRS finally read the articles about the dozens and hundreds of No AGI returns refunds going to the same P.O Box numbers?

It is kind of strange to see audits dropping substantially in every category except the No AGI. That's a decrease in audits in 10 of the 11 categories.

I also thought it interesting that the graph entitled, "IRS Audits By Adjusted Gross Income, 2011 vs 2014" doesn't add up to 100% for either set of numbers. By casual inspection the 2014 numbers look to total only about 55%. Where's the other 45% of the audits in Adjusted Gross Income category?

IRS audits are down because the IRS budget is down. The IRS is down over 20% of its auditors since 2010.

As to the percentage not adding up, I think that you are reading it wrong. When it says 5.26% for NAGI, it means that 5.26% of people with no adjust gross income were audited not that it made up 5.26% of IRS audits.

 

[connor_in]

How to sell Hillary - POLITICO

 

[connor_in]

<blockquote class="twitter-tweet" data-lang="en"><p lang="en" dir="ltr">Baier/Tapper 2020<br><br>"Basic cable in every living room, home in time to put the kids to bed" <a href="https://t.co/kkOdkgVgd1">pic.twitter.com/kkOdkgVgd1</a></p>— Jake Tapper (@jaketapper) <a href="https://twitter.com/jaketapper/status/758740747340226561">July 28, 2016</a></blockquote>
<script async src="//platform.twitter.com/widgets.js" charset="utf-8"></script>

 

[wizards8507]

Baier/Tapper 2020

I'd vote for that in 2016.