Funny stuff: the Times and the Trump tax story – The New Neo
"I can just picture the The New York Times gathering a team of actuaries, legal accountants, tax historians, advisers and financial consultants around a big executive office table, piled high with reams of papers and spent coffee cups, saying:
“We’ve got him now…. as soon as people understand: fixed asset depreciation schedules; and if the assets were depreciated legally using straight line or diminishing balance; then we move to whole-value equity pick-up, or minority interest accounting; before digging into section 1031 ‘like-kind’ asset exchanges; partnerships (limited or writ large), carried interest loopholes, pass-throughs, net capital losses/gains, seven-year income averaging and the difference between long-term and short-term capital gains”…
Seriously, the ‘Trump-taxes’ story has to be the biggest, funniest, most well documented, and most absurd, ongoing snipe hunt in history. “I was going to support President Trump’s re-election until I saw his depreciated amortization schedule from 1989?”… said no-one, like, ever."