In regard to Donald Trump’s taxes and Hillary Clinton’s lack of knowledge on legal tax codes, businesses are allowed to deduct losses so that they can stay in business and keep people working. Individuals pay taxes on their incomes and their employers pay many taxes and expenses for them.
Some of those are property taxes, Social Security taxes, workman’s compensation, Medicare, sales tax, operating permits, etc. Then people and businesses spend that income for things they need. They buy goods and services from those who pay taxes and the cycle continues.
These tax codes were written by Republicans and Democrats. Hillary and many of the Democrats obviously do not understand tax codes or want to tell the truth.
An article by the Associated Press quoted a university professor by the name of Neil B. Buchanan, who said, “People can’t deduct loss on the sale of a home if they lose money.” He doesn’t tell us that people don’t have to pay tax on the sale of a home if they get more for it than what they paid. They can also deduct repair and updating expenses they incurred. There is a limit based on how much profit they made. In many respects, there should not be since they have to go buy another home, often at a higher price.
Businesses here have to pay capital gains taxes and in other countries, they don’t. I completed courses in engineering, math, economics, accounting, etc. One accounting class was taught by Henry Block (before he started H&R Block).
Perhaps Professor Buchanan missed that class and so did Hillary and her friends.
“Aunt Hillary,” like “Uncle Obama,” just wants all the money sent to them and Washington, D.C. Then they will decide who to hire. Many of their energy projects are more like “science fair projects” – not new technology.
Many years ago, Geraldine Cox, PhD., a former director of the American Chemical Manufacturing Association stated, “We can solve these problems of technology, if they will let us.”