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Drudge Retort: The Other Side of the News
Saturday, October 03, 2020

Danielle Fairbank closed the tailgate of her fire-engine red pickup truck in a Target parking lot in Oshkosh, Wisconsin and offered a hearty "Fake news!" to dismiss reports that President Donald Trump paid only $750 in income taxes in 2017.

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For 2117 Present Trump paid $7,435,857 in Alternative Minimum Tax (income tax).

www.breitbart.com

#1 | Posted by helio at 2020-10-02 07:47 PM | Reply | Funny: 1

It's a cult.

#2 | Posted by Angrydad at 2020-10-03 10:19 AM | Reply | Newsworthy 2

"For 2117 Present Trump paid $7,435,857 in Alternative Minimum Tax"

Three things about that:

1. Trump will probably be long dead by 2117.
2. If you meant 2017, the NYT tax experts would've demanded it be reported as such.
3. There's nothing on Breitbart about it.

#3 | Posted by Danforth at 2020-10-03 10:30 AM | Reply | Newsworthy 1

The New York Times' claim that President Donald Trump paid just $750 in federal income taxes in 2016 and 2017 is wrong, based on a flawed understanding of how taxes are paid.

The figures below, drawn from the New York Times's own analysis of Trump's tax-return data for 2017, show that Trump paid $7,435,857 in taxes in 2017.

The Times says the tax return data show that Trump's earnings were negative for the year, so he owned nothing in regular income taxes. But he was subject to the Alternative Minimum Tax (AMT), a parallel tax system aimed at making sure wealthy people cannot use deductions to eliminate their tax liability altogether. According to the Times, "the A.M.T. formula disallowed $45 million in losses that Mr. Trump had carried over from prior years."

As a result, Trump was left with an AMT bill of $7,435,857, according to the Times.

There was no way for Trump to avoid this tax liability. He had to pay it down using his assets. And he did.

#4 | Posted by helio at 2020-10-03 10:43 AM | Reply | Funny: 1

#4 is from "John Carney of the Panama Times"

panatimes.com

Who basically claims that Trump lost so much money that he didn't have to pay taxes. Great bidness man, hey?

#5 | Posted by Corky at 2020-10-03 10:48 AM | Reply

"As a result, Trump was left with an AMT bill of $7,435,857, according to the Times."

Feel free to show where the NY Times claimed Trump paid that AMT in 2017. Analysis shows he paid AMT in other years (2015), but not in 2016 or 2017.
www.usatoday.com

All you've got it Breitbart making another specious claim.

#6 | Posted by Danforth at 2020-10-03 11:03 AM | Reply | Newsworthy 1

#5

See #4.

#7 | Posted by helio at 2020-10-03 11:26 AM | Reply | Funny: 1

"See #4"

The article in #4 makes the claim "Trump was left with an AMT bill of $7,435,857, according to the Times."

Which Times...the Picayune Times? That one from NY made no such claims.

#8 | Posted by Danforth at 2020-10-03 11:40 AM | Reply

#8 | Posted by Danforth

You cannot argue with stupid.

#9 | Posted by Angrydad at 2020-10-03 11:55 AM | Reply | Newsworthy 1

#8 | Posted by Danforth

Or, as Roger Miller put it:

"You can't roller skate in a buffalo herd".

#10 | Posted by Angrydad at 2020-10-03 11:57 AM | Reply | Newsworthy 1

When this first was reported I was going to ask about the AMT but since it appeared Trump had virtually no earned income I wondered if it applied or not

#11 | Posted by eberly at 2020-10-03 12:20 PM | Reply

www.breitbart.com

Might as well just stick to getting your "news" from Trump's Twitter feed.

#12 | Posted by ClownShack at 2020-10-03 03:54 PM | Reply | Newsworthy 2

"I was going to ask about the AMT"

There is no way the tax experts at the NYT didn't sign off on the claims of $750. And if he owed millions, and used an AMT credit in 2016 from a prior year for millions, that would mean in 2016 he paid $750 in income taxes.

#13 | Posted by Danforth at 2020-10-03 04:12 PM | Reply

Some voters are unmoved by Trump's tax returns....
...because they are secretly envious that they aren't as clever at manipulating and breaking the law as Trump is.

#14 | Posted by e1g1 at 2020-10-04 10:20 AM | Reply | Newsworthy 1

Some of those who scream about "We the People" are more about "Me the Person". Take as much for themselves as possible, F* anyone else

#15 | Posted by hamburglar at 2020-10-04 10:22 AM | Reply | Newsworthy 1

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