Trump’s Taxes: Confirmation That Our Political System Favors the Rich

Trump’s Taxes: Confirmation That Our Political System Favors the Rich September 28, 2020

The New York Times reported on Sunday the bombshell that:

“Donald J. Trump paid $750 in federal income taxes the year he won the presidency. … He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.”

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Time will tell, when his taxes are more scrutinized by the press and other governmental and law-enforcement agencies, whether he’s committed any wrongdoing. Because on the surface, there’s nothing wrong with paying only $750.00, or zero taxes for ten years if the numbers are legit.

The bombshell

The “bombshell” as I see it, is that Americans now have the opportunity to see just how our capitalistic system is designed to favor the rich and powerful. This did not start with the Trump administration, it started decades ago by the policies administered by both republicans and democrats.

History has recorded – ad nauseam – how countries and civilizations have crashed when the gulf between rich and poor accelerated beyond the point of return. This unfolding reality is happening not only in the U.S., but in many other countries around the world.

Vote Blue: It’s the best form of protest. / Image by Please Don’t sell My Artwork AS IS from Pixabay

Clearly, what is needed is a radical change to the paradigm.

Not socialism, but at least a concerted effort by those who wield power to meet the basic needs of its citizens. This is not happening. While we have a system in America of electing officials to represent the people, they now primarily represent only corporations as people. So, citizens will need to rise up and make their voices heard. The best we to do this up to November 3 is to vote blue.

About Scott R Stahlecker
Scott Stahlecker is the author of the novel "Blind Guides, “Picking Wings Off Butterflies,” and “How to Escape Religion Guilt Free.” He is also a former pastor and previous owner of several hospice agencies. There are a lot of websites that offer a place for believers and nonbelievers to debate. Thinkadelics is different. It’s about discussing the benefits of being a freethinker, and providing other insightful tips, newsworthy posts, and in-depth features. You can read more about the author here.

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10 responses to “Trump’s Taxes: Confirmation That Our Political System Favors the Rich”

  1. agree 100 percent. remorseful trump voter. hope more people will face reality this time around instead of being coerced by fear and lies.

  2. From the perspective of the voter, we can only do our best given the information we have at the time. I’ve voted for the wrong “guy” a few times myself. This time around, it will be great to have a woman on the ticket.

  3. Mother Jones has an article on Trump’s indebtedness [LINK]. Basically in the next four years he has almost half-a-billion dollars he’ll need to refinance or pay off. He doesn’t have it. He’s been stealing from his charitable foundation and stiffing contractors because he needs the money. Even before the pandemic his properties were losing customers and revenue, now the entire hospitality industry is facing very hard times.

    Many years ago his father gave Trump hundreds of millions of dollars. He’s blown through it. His properties are all mortgaged (I won’t discuss interest mortgages but they’re a sign that the borrower needs money right now).

    It’s been my suspicion for years that Trump didn’t release his tax returns because they’ll show he’s worth a whole lot less than he claims. Now it appears that his net worth is in negative numbers. He owns property but it’s all mortgaged and used as loan collateral. Now the mortgages and loans are coming due.

  4. @Michael Neville: It has been obvious for a long time that the most accurate figure for Trump’s net worth has been the -$396,000,000 he was worth after his casino and airline bankruptcies in 1991. Any serious look at his business dealings shows a man who is incapable of coming up with a profitable venture, his only successful businesses have been the ones where his subordinates thought up of and ran the project with no input from him or where outsiders pitched him an idea he’d only have to put his face, or in the case of the Apprentice his squirrel toupee, to. Everything he personally involves himself in turns to shit.

  5. I wonder what his strategy is in trying to get reelected? Maybe he’s trying to buy time to keep the creditors and prosecutors off his back. Worse, he’s using the presidency as leverage to stall the loans he has outstanding or secure new ones.

  6. The only surprize is that he had so many business and capital losses. This is the first year in 4 years that I have had paid income tax. My money manager always beats the market.

  7. My thinking was along similar lines. Anyone would be foolish to not pay anymore than they have to and that includes Trump. The fact that he paid so little, like many wealthy individuals and corporations is indicative of how our system favors the rich. And for those who have this kind of wealth, and likely a team of lawyers and accountants, it’s even easier for them to manipulated the system.

  8. We need to eliminate the tax loopholes that, for example, allow people like T***p who have vast amounts of wealth (e.g., real estate) to pay little or no taxes. The government should seize his excess properties to make up for the tax he’s arranged not to have to pay.

  9. I’m pretty sure that we can’t on the republicans to close those loopholes for him, as well as themselves. And one can only hope if the dems get back ALL the control that they will do the right thing tax-wise. I’d like to see them adjust where the budget money goes too. Perhaps a little less on defense and more on healthcare or education?

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