NY wants rid of Trump. So why are they fighting it?

The_Waco_Kid's Avatar
Trump may face fight over planned move from NYC to Florida

https://www.yahoo.com/entertainment/...153636038.html

BERNARD CONDON and JONATHAN LEMIRE,Associated Press

NEW YORK (AP) — Donald Trump a Florida man? Not so fast.

Despite a stinging "good riddance" tweet from New York's governor, the president's home state may not let him go to Florida without a fight.


Trump's plan to shift his permanent residence to Palm Beach will likely be heavily scrutinized by New York state officials, who are notorious for auditing wealthy residents seeking to flee to lower-tax states to make sure such moves are real and not just on paper. Those cases can go on for years.


"New York says just because you fill out a piece of paper, that doesn't make you a Floridian," said Mark Klein, a tax lawyer who has handled hundreds of tax-residency audits. "People have this misunderstanding that if you go to Florida and fill out an affidavit, you register to vote and you get a driver's license, that is all it takes."


Even though it appears Trump has a strong case — he's only spent a few nights at his Trump Tower penthouse overlooking Fifth Avenue since he became president — tax experts say it's not a matter of if he will be audited but when.


"It's 100 percent he'll get audited," predicted Barry Horowitz, a tax accountant who has handled many change-of-residency cases. "They'll be a fight."


The general rule for avoiding New York taxes is to spend less than 184 days of the year in the state, but that's just the beginning. Auditors and judges could look at where his business is headquartered (also in Trump Tower), the size of his various homes, where he displays his family photos and his most valuable artwork, even where he gets his teeth cleaned.


In announcing his move in a tweet late Thursday, Trump said New York City "will always have a special place in my heart!" But despite paying "millions of dollars in city, state and local taxes each year," he complained, he had been "treated very badly by the political leaders of both the city and state."


New York Gov. Andrew Cuomo quickly tweeted: "Good riddance. It's not like @realDonaldTrump paid taxes here anyway..."


And then New York City Mayor Bill de Blasio chimed in, tweeting, "Don't let the door hit you on the way out" and "Deepest condolences to the good people of Florida."


Trump responded later Friday with a four-part tweet that blasted both Cuomo ("the brother of Fredo") and de Blasio, saying, "I love New York, but New York can never be great again under the current leadership."


In New York, Trump is paying a top marginal tax rate to the city and state that adds up to 12.7 percent. And because of Trump's own tax overhaul two years ago, he can no longer deduct most of those state and local taxes on his federal return.


In Florida, Trump would pay zero income taxes and zero estate taxes.


Trump is following a well-trod path of many other septuagenarian New Yorkers who have been drawn to Florida's year-round warmth, sunshine and low taxes. Last year alone, 63,000 New Yorkers became Florida residents.


"I think the governor of New York should take a look at his economic policies and what is happening there," said Kellyanne Conway, a counselor to the president. "The president is doing what many taxpayers have done and property owners have done, and that is to go to a state that is more hospitable to hard-working Americans."


For Trump, his planned move to Florida could mark the end of an era. The glittering Manhattan skyline has always been part of Trump's brand, interwoven with his brash, boastful, in-your-face style. Trump Tower, his gleaming high-rise home for decades, became a character in his 2016 presidential campaign, the site of his famous escalator ride to launch his bid and dozens of headline-grabbing events and news conferences.


But soon after Trump took office, few people around him thought it would remain his home, mostly because of the hostile reception he's gotten there. Upset with its Democratic leaders and the protests, Trump has privately raged against the city, according to three Republicans close to the White House not authorized to speak publicly about private conversations.


New York City's elite never full accepted the brash, tabloid-friendly, Queens-born businessman. And it got worse after he embraced right-wing politics, particularly on immigration. The deeply diverse and Democratic city turned on him, and he only received 10 percent of the vote in Manhattan.


When the president-elect ran his presidential transition out of the Tower, aides actively explored scenarios in which Trump would return to New York most weekends. But as demonstrators clogged midtown streets, Trump, who is loath to face protesters, began to back away from the idea.


Since taking office, New York's attorney general has announced investigations into the Trump Organization, and the state Legislature has moved to obtain his tax returns, efforts that likely will not be affected by his planned move to Florida.


"If people could escape New York charges simply by moving to Florida, there would be a lot of criminals walking around Miami Beach right now," said Duncan Levin, a New York City lawyer specializing in money laundering and fraud cases.


Trump returns to New York City on Saturday to cheer on a mixed martial arts fight. As if on cue, protests are already scheduled to pass in front of Trump Towe
Unique_Carpenter's Avatar
Why?
$$$$
The NYT actually has a good point, unless someone actually has to work in NYC, the taxes are quite horrendous.
But it will be nice for him to walk to a golf course. Sorry, golf cart himself to a course.
WTF's Avatar
  • WTF
  • 11-02-2019, 07:27 AM


Trump's plan to shift his permanent residence to Palm Beach will likely be heavily scrutinized by New York state officials, who are notorious for auditing wealthy residents seeking to flee to lower-tax states to make sure such moves are real and not just on paper. Those cases can go on for years.

Originally Posted by The_Waco_Kid
The answer you seek was in the article you posted....


He can just issue an "Executive Order" declaring Chapter 7 Bankruptcy for the United States. He's the obvious choice for such a "high-profile" bankruptcy, given his extensive experience.
WTF's Avatar
  • WTF
  • 11-02-2019, 07:51 AM
He can just issue an "Executive Order" declaring Chapter 7 Bankruptcy for the United States. He's the obvious choice for such a "high-profile" bankruptcy, given his extensive experience. Originally Posted by mezsat2
We hit 23 Trillion yesterday under Trump's watch....


bambino's Avatar
We hit 23 Trillion yesterday under Trump's watch....


Originally Posted by WTF
Yeah, Trumps a piker. Obama took from 9 to 21 trillion in just 8yrs!!!!!!
rexdutchman's Avatar
That's Fucking funny,,,, All older New Yorkers flee to Florida (DA) to get away from Tax's and the liberal progressives SOOOOOOOOOOOOOOOOOOOOOOOOOOOOO OOOOOOOOOO what
WTF's Avatar
  • WTF
  • 11-02-2019, 11:15 AM
Yeah, Trumps a piker. Obama took from 9 to 21 trillion in just 8yrs!!!!!! Originally Posted by bambino
You're a fucking idiot if you believe that.



https://www.thebalance.com/us-debt-b...ercent-3306296


Barack Obama: Added $8.588 trillion, a 74% increase from the $11.657 trillion debt at the end of Bush’s last budget, FY 2009.

bambino's Avatar
You're a fucking idiot if you believe that.



https://www.thebalance.com/us-debt-b...ercent-3306296


Barack Obama: Added $8.588 trillion, a 74% increase from the $11.657 trillion debt at the end of Bush’s last budget, FY 2009.

Originally Posted by WTF
Obama added more debt than any other modern President. If you don’t believe that you’re an idiot.


National Debt Increase

Obama added $8.335 trillion to the public debt – more than any modern president
In 2001, the public debt was 54% of GDP. By 2009, it had increased to 77%
The Medicare Part D Bill was passed reduce the cost of prescription drugs. This added billions to the debt but slowed the cost of Medicare
Debt-to-GDP ratio

The debt-to-GDP ratio grew enormously from 77% to 105%
I hate talking politics, but liberals are so scitzo when it comes to taxes its unbelevable. I sometimes wonder if they all aren't just mentally insane?

These same people love socialim, but claim the reason that country A (Venezuala, Zimbabwe) are at the brink of collapse is because of Mismanagement, greed, or some combination thereof.

They Love Scandanavian countries, even though they have lower business taxes and Regulation than in the US and Everybody pays more taxes, NOT JUST THE RICH.

In my mind though, its irrelivant, if The libs take over Im taking my money and moving to a tax sanctuary or starting my own tax free country in the middle of the freaking Pacific Ocean. No more liberals ruining Shit. Ill build a wall that keeps all Democrat and Labour Voters the Hell OUT!
Go back to your shithole countries run into the ground where everybody has to eat their pets to survive.
</End Rant>
dilbert firestorm's Avatar
We hit 23 Trillion yesterday under Trump's watch....

Originally Posted by WTF
You're a fucking idiot if you believe that.



https://www.thebalance.com/us-debt-b...ercent-3306296


Barack Obama: Added $8.588 trillion, a 74% increase from the $11.657 trillion debt at the end of Bush’s last budget, FY 2009.
Originally Posted by WTF

Trump had a net gain of 2 trillion (21 trillion to 23 trillion)



Obama had a net gain of 8.5 trillion. (9 trillion to 21 trillion)


you're splitting hairs dude.
Hotrod511's Avatar
I hate talking politics, but liberals are so scitzo when it comes to taxes its unbelevable. I sometimes wonder if they all aren't just mentally insane?

These same people love socialim, but claim the reason that country A (Venezuala, Zimbabwe) are at the brink of collapse is because of Mismanagement, greed, or some combination thereof.

They Love Scandanavian countries, even though they have lower business taxes and Regulation than in the US and Everybody pays more taxes, NOT JUST THE RICH.

In my mind though, its irrelivant, if The libs take over Im taking my money and moving to a tax sanctuary or starting my own tax free country in the middle of the freaking Pacific Ocean. No more liberals ruining Shit. Ill build a wall that keeps all Democrat and Labour Voters the Hell OUT!
Go back to your shithole countries run into the ground where everybody has to eat their pets to survive.
</End Rant> Originally Posted by HndsmGntlmn
I would say here is a man who lives in Texas and is tired liberals moving to the state of Texas and bringing their liberal ways with them
dilbert firestorm's Avatar
is 184 days arbitrary? why not 180? its six months basically.
eccieuser9500's Avatar
We hit 23 Trillion yesterday under Trump's watch....


Originally Posted by WTF

Debt is his middle name. I hate citing wikipedia, but . . .

Economic policy of Donald Trump

The economic policies of Donald Trump, which were outlined in his campaign pledges, include trade protectionism, immigration reduction, individual and corporate tax reform, the dismantling of the Dodd–Frank Wall Street Reform and Consumer Protection Act, and the repeal of the Patient Protection and Affordable Care Act ...

What a fuckin' asshole.

Ability To Repay Standards Under the Truth in Lending Act (Regulation Z)



Ability To Repay Standards Under the Truth in Lending Act (Regulation Z)

The Bureau is proposing to exempt an extension of credit made pursuant to a program administered by a housing finance agency (HFA) from the ability-to-repay requirements. The Bureau believes that this exemption may be necessary to preserve access to credit for low- to moderate-income (LMI) consumers. The Bureau is concerned that the ability-to-repay requirements may undermine the underwriting requirements of these programs. For example, the ability-to-repay provisions may require consideration of underwriting factors that are not required under HFA programs, such as the consumer's credit history. The Bureau is also concerned that the ability-to-repay requirements may affect the ability of HFAs to offer extensions of credit customized to meet the needs of LMI consumers while promoting long-term housing stability. Furthermore, the Bureau is concerned that the costs of implementing and complying with the ability-to-repay requirements would result in a severe curtailment of the credit offered under these programs. The proposed exemption related to HFAs is discussed in more detail below in the section-by-section analysis of § 1026.43(a)(3)(iv).






























LexusLover's Avatar
I would say here is a man who lives in Texas and is tired liberals moving to the state of Texas and bringing their liberal ways with them Originally Posted by Hotrod511
They come here for lower taxes and better jobs!!!!!!!!!!!