Frank's Musings

Donald Trump and his family are in the real estate development business.  I suspect that it is not unusual for those developers to pay minimal income taxes on the property they own.  They realize their income only when they dispose of those properties, as capital gains. Those capital gains, of course, are taxed at a very favorable rate.   In the meantime, they find ways to expense all their living coats, as well; so they don’t need to have steady taxable ordinary income; this is the way we have written our tax laws.

It would be unwise, therefore, for Mr. Biden to question his opponent with regard to his taxes during the Presidential Debates.  There surely will be many other weaknesses in Trump’s behavior and Presidential record that can be exploited.