Posts Tagged ‘refund’

Michael Cohen: Millions Tax Refund

Posted by admin on Wednesday, February 27, 2019

Michael Cohen Money Quote saying during congressional testimony on February 27 that President Trump told him in 2008 that the government was stupid for refunding him $10 Million on his taxes. Michael Cohen said:
 
in 2008 that he was cutting employees' salaries in half – including mine – he showed me what he claimed was a $10 million IRS tax refund, and he said that he could not believe how stupid the government was Quote
 

“When telling me in 2008 that he was cutting employeessalaries in half – including mine – he showed me what he claimed was a $10 million IRS tax refund, and he said that he could not believe how stupid the government was for giving “someone like him” that much money back” — Michael Cohen

 

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In this quote, Michael Cohen is describing an interaction he had with Donald Trump in 2008. Some key points:

  • Trump was cutting the salaries of his employees, including Cohen’s, in half due to financial difficulties at the time.
  • Trump then showed Cohen what Trump claimed was a $10 million tax refund he had received from the IRS.
  • Trump expressed disbelief and contempt and called the government “stupid” for giving “someone like him” such a large tax refund.
  • This implies Trump felt he did not deserve the refund or that it was too generous, even as he was reducing his employees’ pay.

Cohen’s anecdote portrays Trump as a boss who was willing to cut his workers’ salaries deeply but also critical of and benefited greatly from tax policies that returned millions to him personally at the same time. It provides Cohen’s perspective on Trump’s attitude toward his own wealth versus that of his employees during a challenging economic period.

Stanley Paskavich: Black Friday Boost

Posted by admin on Friday, November 25, 2016

Stanley Victor Paskavich Money Quote saying the government can choose dates to release refunds for taxes to increase spending and benefit the economy. Stanley Victor Paskavich said:
 
Stanley Victor Paskavich Black Friday Tax Refund
 

“You know if the U.S. Government wanted to boost the economy there’s a simple solution make Black Friday the refund date for your state and federal taxes” — Stanley Victor Paskavich

 

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In this quote, Stanley Victor Paskavich seems to be suggesting a somewhat tongue-in-cheek idea to stimulate consumer spending and boost the economy. Some key points:

  • He notes that if the government wanted to provide an economic boost, they could synchronize tax refund payment dates with Black Friday (the day after Thanksgiving, marking the start of the holiday shopping season).
  • By refunding state and federal taxes on Black Friday specifically, it would directly inject a large amount of money into Americans’ hands on one of the biggest spending days of the year.
  • Paskavich implies this would significantly increase retail sales activity as taxpayers would be eager to spend their refund money on holiday gifts and purchases.
  • It’s meant partly as a humorous proposal, but also highlights how precisely timing tax rebates could potentially increase consumption and short-term economic activity through the holiday period.

Overall, the quote suggests Paskavich’s view that aligning tax refund dates with Black Friday shopping could serve as a stimulus by putting more disposable income in the hands of consumers during a peak spending timeframe.

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