Steve James wrote:
Trump uses his resorts and hotels to host government visitors and meetings, profits from them, and still ends up paying $750 in income tax. Yeah, it's legal. But, the Biden's paid $300K.
So, I get it. All perfectly legal, smart, and the rest of y'all are just suckers.
Didn't have to pay any taxes last year.... yep it is legal...
In other words, Trump paid the full amount of his taxes but spent $7,435,107 of his tax credit and $750 of cash. Both cash and the credit are government liabilities that the U.S. government accepts as payment for taxes. Paying the credit is not the equivalent of not paying taxes.
Trump paid most of his bill with the credit and a small part in cash. But he paid all of his $7.4 million tax bill. To the penny.
To argue that this does not count as paying millions of dollars in taxes is equivalent to arguing that every single one of us who does not have to cut a check on tax day, because we built up a credit through withholding, is not paying our taxes.
The argument would also badly hurt the U.S. government’s ability to coax households and businesses into undertaking projects for the public good in exchange for credits. Instead, the government would be forced to make cash payments because only these would count as tax payments.
https://www.breitbart.com/economy/2020/ ... axes-2017/