Trump pays no taxes? Oh, that’s not the half of it, America. In todays Atlanta Journal [View all]

[napi21]

http://jaybookman.blog.myajc.com/2016/10/03/trump-pays-no-taxes-oh-thats-not-the-half-of-it-america/?ecmp=newspaper_email##

But that’s not the worst of it. As we’ll see below, the worst of it is how, on the tax issue as in so much else, Trump continues to scam his followers into believing that he’s on their side, when in fact the exact opposite is true. If elected, he fully intends to cheat his supporters just as thoroughly as he has cheated almost everyone that he encounters, both in his personal and business life. Unfortunately, those supporters are too willfully blind to see what’s coming.

Fortunately, we already know what Trump intends to do with the tax code, because it’s the one area in which he’s given us a somewhat detailed plan. And according to every third-party analysis that I’ve seen, the Trump plan does nothing to ensure that he and other wealthy Americans will pay their fair share of the burden; to the contrary, the plan represents a multi-trillion-dollar giveaway to the wealthy that dwarfs the plans offered by other GOP candidates. For every loophole that the Trump plan alleges to close in the tax code, it opens a half-dozen more that will be even more lucrative.

However, I want to draw your attention to one particular part of the Trump tax plan, which deals with tax treatment for highly leveraged real-estate development of the type in which Trump specializes. Those provisions would allow developers to utilize two different tax loopholes, unlimited interest deduction and immediate expensing of investments, to create a massive new subsidy for that industry. Combined, those two loopholes would create what tax experts call a “negative tax rate.” Put another way, instead of Trump paying taxes to the government on his profits, the government would be paying taxes to Trump and his fellow developers. And if you don’t want to take my word for it, fine: It is such an outrageous, unfair proposal that it has alarmed even right-wing economists and supply-siders.

It's a fairly long article, but well written and exposes things I haven't seen anywhere else. and YES, it's in the Atlanta Journal
Constitution newspaper!