The Tax Deduction That Donald Trump Loves And Warren Buffett Probably Likes
The loophole Hillary Clinton is referring to came out of the Supreme Court Gitlitz decision. I’m skeptical that Trump took advantage of Gitlitz. The loophole would have benefited Mike Pence, whose “at-risk” carryover from the cigarettes and gasoline went up in smoke. Pence also voted for the act that closed the loophole, probably costing himself around $100,000. whether he knew it or not
Donald Trump’s Deep Love Of Tax Depreciation – An Affair To Remember
The managing partner is at least moderately sociopathic and a dictator of greater or lesser benevolence. He, and it is almost always a “he”, is charged with the responsibility of making sure his partners don’t give away the store to clients and staff. At any rate, the deal is that they get what the managing partner thinks they deserve with enough grease thrown in to stop them from squeaking too much.
It goes without saying that Trump is the managing partner in the enterprise, although he would probably prefer something more reflective of his value, maybe God-Emperor. On the asset side, there is no such thing as accumulated depreciation. That is because an asset under Donald Trump’s umbrella can only go up in value.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.