Editorial: Here's why Trump gets to exploit those tax loopholes — and you can't (via latimesopinion)
Donald Trump rode into office on a wave of distrust and anger at Washington “elites” — the insiders who supposedly play the system for their own gain, to the detriment of the rest of us. The New York Times’ analysis of Trump’s recent tax returns, however, show that he played the system to a breathtaking degree. The tax code is an insider’s game. And the changes Trump pushed in the first year of his presidency made it even more so — and more lucrative for him.
Here’s where billionaire investor Warren Buffett would point out that the president’s secretary was no doubtAs Buffett has observed, wealthy people earn most of their money from capital gains, which are taxed at a lower rate than wages. Trump enjoys not only that break, but also a series of advantages unique to real estate investors that cry out for reform.
Worse, there are a slew of rules and exemptions that uniquely help real estate investors — loopholes that are particularly hard to defend for investors on Trump’s scale. The
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