Those Trump provided lawyers might be 40% more expensive than he thinks

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Friday August 25, 2023 · 8:05 PM PDT

2023/08/25 · 20:05

A minor detail so far unmentioned are the tax consequences from those Trump provided lawyers. There can only be two possible treatments neither of which will be welcomed by Trump or his band of co-conspirators:

1. Trump’s provision of legal services are taxable as income to the recipient. Imagine at the end of all this, a co-conspirator gets slapped with an income tax bill for the value of those legal fees. That’s going to leave a mark since the fees are likely to be quite hefty when it is all said and done.

or….

2. Trump’s provision of legal services is a gift to the recipient. In this case Trump himself would be liable for a gift tax. He gets to give each person only $17,000 per year gift tax free. After that, those gifts become taxable. While it is also true that he has a lifetime amount of around 13 million that can be given away without paying a tax, Trump is probably already using that amount for transfers to his kids. So, it is likely that he pays 40% on any incremental gifts he makes over the 17,000 annual exclusion.

So, if he provides ,say, $200,000 in legal fees either the recipient pays income tax on that amount, or Trump owes (200,000-17,000)*40% or $73,200. Given the number of people he is doing this for, the gift tax could be quite hefty.

Also, why would I think that Trump might try to stiff them with the tax bill??

Take your pick on which one you prefer. But in either case, the IRS will be the one providing the final gift to an unhappy recipient.

Poll

227 votes Show Results

which would you prefer?

227 votes Vote Now!

which would you prefer?

1. Co-conspirators pay a tax on the value of legal fees provided by Trump.

123 votes

2. Trump pays a gift tax on the value of those legal fees.

104 votes

We need a blue state, any will do

AnotherAmericanLie

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Sunday September 05, 2021 · 3:28 PM PDT

2021/09/05 · 15:28

The GOP have democrats on the defensive on many fronts including masks & vaccines, voter suppression, and the Texas anti-abortion law. It’s the last one which was achieved with the help of the Supreme Court that I want to address.

Several have already suggested the “two can play that game” approach and I heartily concur. So.. we need a blue-controlled legislature and Governor to pass a law outlawing semi-automatic guns with the same bounty structure as the Texas law. Any blue state will do.

The target of course would be the gun shop owners who could face a mountain of lawsuits. Seems to me if the Supreme Court looks at it they would have three options:

1. Rule as they did in Texas. In this case unless a state court intervenes, gun shops might have to close. Even if a state court intervenes as was the case in Texas, at least the GOP will understand that two really can play at this game.

2. Strike it down, including at least in part due to the bounty structure. Here, I think that would also invalidate the Texas law.

3. Strike it down under the 2nd amendment but not rule on the bounty structure. This would expose an enormous hypocrisy as the court refused to rule on the merits of the abortion matter.

Under the scenarios I can see, this move shows upside potential and serves notice on the GOP that democrats are tired of playing defense on politics. Who knows, maybe there would even be some forward motion on the matter of gun control.

So.. is there a blue state willing to take a shot or are we just going to see the red states act in the wake of the disastrous Supreme Court decision? That is the question.

My Wobbly Woozle needs a surgery

AnotherAmericanLie

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Friday November 10, 2017 · 11:51 AM PST

2017/11/10 · 11:51

When my Rudy-dog went to the Rainbow Bridge recently, I decided to get another shelter-dog.

I went to the Humane Society and found this irresistible Lab-Hound mix named Bow. She is a nine month old puppy who had been transferred from another shelter. Sadly, Bow has a very bad hip dysplasia which is going to cause her lots of suffering as she ages. They say she needs a complete hip replacement once she grows a bit more.. so sometime after New Years, if all goes well, Bow will be in for major surgery.

I am her foster parent until then and am so attached to her that I am going to keep her one way or another. The Humane Society just set up a funding page at Love Animals.org a non-profit organization that doesn’t take any percentage of the funds raised. God Bless organizations like this one.

Anyway, I thought I would pass on the link to the funding page in a shameless attempt to get wide circulation of their funding project for Bow.

The Pootie and Woozle crowd at Kos have my admiration and I used to frequent their diaries. But ever since became ill, I rarely post but often lurk..

So here is the link to the Humane Society’s page they set up for Bow. Thank you all for helping to spread the word!

www.loveanimals.org/...

Take The Poll - Gulf Oil Spewage

AnotherAmericanLie

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Tuesday June 08, 2010 · 7:06 PM PDT

2010/06/08 · 19:06

So..today we hear maybe it is 100,00 bpd...gee..there are quite a few choices...

so..what's your guess??..

(note: all options are in barrels..not gallons)

Poll

105 votes Show Results

Current Gulf Oil Spegwage Rate is:

105 votes Vote Now!

Current Gulf Oil Spegwage Rate is:

5,000 ......intial BP EStimate

2 votes

19,000 :..."high end" of low-end so loved by CNN

0 votes

22,800..... previous estimate increase by 20% for riser cut

8 votes

40,000.... 25k original est doubled for riser cut less 10k caputre rate

13 votes

84,600.....1 brl/sec..simple,elegant, and pehaps closer to the truth

34 votes

100,000.... nice and round...

13 votes

150, 000 ... omg...this can't be

19 votes

A metric fuck-tonne......pie

16 votes

It Has Become A Campy Sci Fi Movie

AnotherAmericanLie

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Sunday May 16, 2010 · 12:26 PM PDT

2010/05/16 · 12:26

I hate to admit it, but I actually like the series of campy sci-fi movies that the Sci Fi channel has put out over the past few years...

They all have these fantastic plots of something ridiculous like a living monster rock, or solar flares gone crazy...

AnotherAmericanLie

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Monday March 29, 2010 · 12:26 PM PDT

2010/03/29 · 12:26

this issue does not turn on the commerce theory...

it turns on the power to tax.

AnotherAmericanLie

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Friday September 11, 2009 · 11:30 AM PDT

2009/09/11 · 11:30

that is all there is to it...pure, plain and simple.

AnotherAmericanLie

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Thursday September 10, 2009 · 10:23 AM PDT

2009/09/10 · 10:23

Just now, Tom Harkin was interviewed by Andrea Mitchell, and he got it right!!

This coin has two sides to it....

AnotherAmericanLie

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Monday June 22, 2009 · 9:42 AM PDT

2009/06/22 · 09:42

We keep hearing the same drone over and over..America is going socialist - you have to stop this at all costs.

Well..I say - if this is Capitalism, then I want socialism.

AnotherAmericanLie

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Thursday June 18, 2009 · 10:05 AM PDT

2009/06/18 · 10:05

In this world full of serious problems , Sarah Palin shines as the queen of tabloid politics...catnip for the media, she knows that personality and gossip/charm can go a long way.

AnotherAmericanLie

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Tuesday June 16, 2009 · 10:56 AM PDT

2009/06/16 · 10:56

I recall his attempt to get the Democratic presidential nomination a few years back and what sticks with me from that time is how radical he seemed at the time...

Of all the political figures, Howard has had the biggest upside surprise.

AnotherAmericanLie

Community (This content is not subject to review by Daily Kos staff prior to publication.)

Monday June 15, 2009 · 10:40 AM PDT

2009/06/15 · 10:40

There has been a lot of arguing over elements of the upcoming health care reform plan. Frankly, the debate is over. The only thing left is to see if the Democratic Party has the nerve to get things done.

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Those Trump provided lawyers might be 40% more expensive than he thinks

We need a blue state, any will do

My Wobbly Woozle needs a surgery

Take The Poll - Gulf Oil Spewage

It Has Become A Campy Sci Fi Movie

Mandate IS Constitutional...and here is why

The Republicans Are Flat Out Racists

Tom Harkin Got It Right

If This Is Capitalism..I Want Socialism

Sarah Palin - Queen of Tabloid Politics

Howard Dean - This Year's True Political Surprise

The Debate Over A Public Plan Is Over