"Conservative estimates say Trump owes more than a billion dollars in unpaid taxes."

[Demovictory9]

Link to tweet

Replying to
@ScenarioLENS
Assumptions:

From 2008–2016 Trump’s net worth increased from $2B to $4B.

Billionaires pay 23% + 9% to NY for income tax.

$250M per year x 32% = $80M x 8 years = $640M.

Trump boasts he paid nothing.

IRS penalties can double the amount owed — and worse for offshore accounts.

[unblock]

1. Net worth can increase without any current taxable income

Capital gains, such as from the value of stock or real estate going up, aren't taxable until sold.

And that's without even getting into things like business expenses and depreciation.

[stopdiggin]

2. good lord. this is pure simple minded dreck.

"Conservative Estimates" are apparently those plucked straight out of thin air.

the linked NYTimes article makes absolutely no such claims .. either in terms of dollar amounts .. or in fact, of taxes in arrears.

[Duppers]

5. THIS

Thank you!

[Duppers]

4. Has he even made that much money?

I'd love to see all his real estate holdings confiscated.

[bluestarone]

6. I'm just hoping the penalties for his UNPAID TAXES

Keep increasing!

[gratuitous]

7. The story says Trump is asking for a review by the full DC Circuit

As I recall, the Chief Judge of the DC Circuit is the Honorable Merrick Garland. Being the thoroughgoing professional he is, I suspect Judge Garland will simply issue a pro forma affirmation of the panel's judgment. But the temptation to write a full opinion . . .

[whopis01]

8. Taxes don't work that way.

If I buy $100k work of stock and it doubles in value, my net worth has increased by $100k. But I owe nothing in taxes.

[FiveGoodMen]

10. If you sell that stock, you owe taxes then

Capital Gains taxes which are lower than paying taxes on the money you actually work for, but still.

[whopis01]

11. Of course. However the op wasn't about income or capital gains

It was about net worth. An increase in net worth does not trigger a tax consequence. Income and capital gains do.

[Codeine]

9. Good lord, a little research would help.

Not how taxation works.