Trump wants part of the procedes of a private business deal. Is this even legal?

everysurfer

Phil Edwards status
Sep 9, 2013
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dOnnie said that unless Microsoft buys tic tok, they will be banned in the U.S..

He also said that if the deal goes through, he wants a big portion of the proceeds to go to the Treasury.

A federal sales tax on the sale of a private business? Is this even legal?

Am I the only Republican who is outraged by this government extortion and over reach?
 

Ifallalot

Duke status
Dec 17, 2008
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dOnnie said that unless Microsoft buys tic tok, they will be banned in the U.S..

He also said that if the deal goes through, he wants a big portion of the proceeds to go to the Treasury.

A federal sales tax on the sale of a private business? Is this even legal?

Am I the only Republican who is outraged by this government extortion and over reach?
All taxes are extortion and overreach.

What else is new?

LMAO "Republican"
 

Random Guy

Duke status
Jan 16, 2002
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I thought you meant trump personally wanted a cut, so this is way less disturbing
the bar has been lowered significantly
 
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the janitor

Tom Curren status
Mar 28, 2003
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dOnnie said that unless Microsoft buys tic tok, they will be banned in the U.S..

He also said that if the deal goes through, he wants a big portion of the proceeds to go to the Treasury.

A federal sales tax on the sale of a private business? Is this even legal?

Am I the only Republican who is outraged by this government extortion and over reach?
I don't understand the logic around a purchaser paying the Treasury, is he wanting Bytedance to pay tax on the transaction for the US asset?

Not sure I understand your stance on banning tiktok, what's your view on that?
 

hal9000

Duke status
Jan 30, 2016
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What would even be the rationale for this? A broker‘s fee?


You know, tru would actually be rich if he had

a) invested wisely with the $14million daddy gave him

b) simply become a real estate broker in NY and stuck with that.
 

Ifallalot

Duke status
Dec 17, 2008
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What would even be the rationale for this? A broker‘s fee?


You know, tru would actually be rich if he had

a) invested wisely with the $14million daddy gave him

b) simply become a real estate broker in NY and stuck with that.
What' the rationale for any taxation?

Why should the government get thousands of dollars of sales tax on a home when they're already taking out other fees as well as taking property tax?

Why should the government get a huge cut out of every dollar I earn?

Glad to see you're coming around
 

everysurfer

Phil Edwards status
Sep 9, 2013
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I don't understand the logic around a purchaser paying the Treasury, is he wanting Bytedance to pay tax on the transaction for the US asset?

Not sure I understand your stance on banning tiktok, what's your view on that?
Yes, dOnnie wants "China" to pay the U.S. treasury a large amount of money for the transaction to go through. I'm pretty sure that is government over reach, bordering on facism.

You're asking my take on forcing the sale? I'm not a lawyer, so I don't know the laws regarding allowing any foreign government to harvest our personal data.

My opinion is that it's creepy to allow China to harvest our data. I also think people should mainly be left alone to make stupid decisions. But many of the really stupid need to be protected to some degree. I guess, i would lean toward "if an adult wishes to give China personal data, and bad things happen to them because of it, as long as they were consenting and informed, it isn't my business."
 

Random Guy

Duke status
Jan 16, 2002
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What' the rationale for any taxation?

Why should the government get thousands of dollars of sales tax on a home when they're already taking out other fees as well as taking property tax?

Why should the government get a huge cut out of every dollar I earn?

Glad to see you're coming around
The government needs money for its citizens in order to fund the services and infrastructure it provides, and to fund the cost of the government itself
thats why
 

Ifallalot

Duke status
Dec 17, 2008
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The government needs money for its citizens in order to fund the services and infrastructure it provides, and to fund the cost of the government itself
thats why
So you all should be happy the government is taking a cut from this transaction as well
 

the janitor

Tom Curren status
Mar 28, 2003
11,843
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north of the bridge
Yes, dOnnie wants "China" to pay the U.S. treasury a large amount of money for the transaction to go through. I'm pretty sure that is government over reach, bordering on facism.

You're asking my take on forcing the sale? I'm not a lawyer, so I don't know the laws regarding allowing any foreign government to harvest our personal data.

My opinion is that it's creepy to allow China to harvest our data. I also think people should mainly be left alone to make stupid decisions. But many of the really stupid need to be protected to some degree. I guess, i would lean toward "if an adult wishes to give China personal data, and bad things happen to them because of it, as long as they were consenting and informed, it isn't my business."

I'm guessing that the entity paying the tax will be whatever corporation currently owns the US asset. Presumably that entity will make money on any sale, in which case they will pay tax as per usual, minus massive accounting fuckery as per usual. So that wouldn't strike me as over reach.

Given the data harvesting I've read about I'm not opposed to the US forcing a sale. But it does pose interesting challenges down the road because foreign companies now have precedent to do that to US firms.

Maybe we end up with stronger data protection for US consumers as part of this as well. Doubtful, but possible
 

everysurfer

Phil Edwards status
Sep 9, 2013
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I'm guessing that the entity paying the tax will be whatever corporation currently owns the US asset. Presumably that entity will make money on any sale, in which case they will pay tax as per usual, minus massive accounting fuckery as per usual. So that wouldn't strike me as over reach.
I'm guessing that d0nnie is talking out his ass again. Is oblivious to the amount of the sale, the amount of the tax, or even tbw legality of trying to collect it.

It's just another episode, where he cast himself in the central role.