Implications of the Trump tax debate
I'm not really sure how this is going to trend out in the long run, as a negative for Trump or a negative for Democrats and probably does depend on one's own tax situation and experience and underlying knowlege of our tax structure.
There are a couple of givens I think, one being that no one, or very few people at most, enjoy paying taxes and the other that it is the sworn goal of most companies, both large and small, to limit their taxable profits.
This is not some esoteric or arcane tax strategy, most businesses would rather eat up any profits in salaries (mostly to the upper tier, since their profit making strategy also includes underpaying the lower tiers) or re-investing in equipment and upgrades, or research and development, etc.
The risk is Democrats looking ignorant or disingenuous at trying to exploit Trumps' use of the "loss carryforward." If Democrats are against the concept in general, they will lose every single small business person in the country, most of whom use this strategy with the same enthusiasm as Trump, if not his scale. I think the majority of small business in this country is done as Subchapter S corps, which allows the business owner to carry the profit or losses through to their personal returns.
Aside from small business, most real estate investors make use of depreciation in their tax returns, again, not esoteric or arcane. This also creates a deduction which also causes a lower tax rate.
Trump could swing this whole discussion around by asking HRC or any Democrat - "So you are for banning the loss carryforward? Really? Better tell that to your business base." Or he could also say, "So you advocate eliminating depreciation in real estate investment?" If he did do that, you would see some massive wriggling and squirming by Dems if he broadened out the argument about what they are complaining about.
I think we should have a debate about how the tax structure favors the wealthy and corporations, but I'm not convinced that the Democrats are prepared to have the conversation they are opening.