Posted on 01/07/2019 7:05:50 PM PST by Kaslin
Most of what has been written about what can be learned from the Trump tax returns has no basis in reality. While the President’s tax returns may be voluminous, his tax returns will yield far more questions than the occasional answer. For example, no tax return identifies lenders or whether the borrower has personal liability; tax returns only identify how much interest is paid. So, if President Trump borrowed funds from Russia or Bank of America, his tax returns would not disclose the lender. The tax returns will also not include the identity of the purchasers of his properties.
If the President of the United States has a sense of humor and a sense of how little we know about the finances of our Congress and how sensitive members of Congress are about their personal finances, he would propose that on a specific date, he, along with all elected members of both the House of Representatives and the Senate, be required to release their tax returns or be faced with enormous fines. The chances of the Members of the House or Representatives or U.S. Senate voting to release ten years of their personal tax returns is zero. That is because while tax returns may not release details on specific transactions, they do tell us quite a bit about the individual’s personal decisions and with some specificity, tax returns identify the activities of both the elected official and the official’s spouse. We do not get to see the activities of elected officials’ spouses in such detail from other required reports.
Tax returns do tell us interesting tidbits about income trends, charity, spousal earnings etc.
While no one seemed terribly interested at the time, when President Obama’s tax returns were released, they showed that Michelle Obama was elected to the Boards of Directors of two companies shortly after he was elected to the U.S. Senate. Many Members of the Congress have become very wealthy over the past ten years and tax returns should provide clues as to the source of such income. How much does the spouse earn as salary? Are spouses sitting on Boards of Directors and receiving significant fees therefrom? Does Schedule C show a spouse’s consulting income? Has my Member of Congress profited on stock and bond trades through insider information; there might be some clues on Schedule D. This would scare many Members of Congress to death.
Speaker of the House of Representatives Nancy Pelosi appears to have become very wealthy over the past decade. Her tax returns might provide some interesting insight into her world and how it has changed over that period. Senator Feinstein’s husband is a very successful businessman, wouldn’t his annual activities prove interesting? Their annual required federal disclosures are no different than the President and very little detail can be gleaned from those reports.
Most of what has been written about what can be learned from the Trump tax returns has no basis in reality. While the President’s tax returns may be voluminous, his tax returns will yield far more questions than the occasional answer. For example, no tax return identifies lenders or whether the borrower has personal liability; tax returns only identify how much interest is paid. So, if President Trump borrowed funds from Russia or Bank of America, his tax returns would not disclose the lender. The tax returns will also not include the identity of the purchasers of his properties.
If the President of the United States has a sense of humor and a sense of how little we know about the finances of our Congress and how sensitive members of Congress are about their personal finances, he would propose that on a specific date, he, along with all elected members of both the House of Representatives and the Senate, be required to release their tax returns or be faced with enormous fines. The chances of the Members of the House or Representatives or U.S. Senate voting to release ten years of their personal tax returns is zero. That is because while tax returns may not release details on specific transactions, they do tell us quite a bit about the individual’s personal decisions and with some specificity, tax returns identify the activities of both the elected official and the official’s spouse. We do not get to see the activities of elected officials’ spouses in such detail from other required reports.
Tax returns do tell us interesting tidbits about income trends, charity, spousal earnings etc.
While no one seemed terribly interested at the time, when President Obama’s tax returns were released, they showed that Michelle Obama was elected to the Boards of Directors of two companies shortly after he was elected to the U.S. Senate. Many Members of the Congress have become very wealthy over the past ten years and tax returns should provide clues as to the source of such income. How much does the spouse earn as salary? Are spouses sitting on Boards of Directors and receiving significant fees therefrom? Does Schedule C show a spouse’s consulting income? Has my Member of Congress profited on stock and bond trades through insider information; there might be some clues on Schedule D. This would scare many Members of Congress to death.
Speaker of the House of Representatives Nancy Pelosi appears to have become very wealthy over the past decade. Her tax returns might provide some interesting insight into her world and how it has changed over that period. Senator Feinstein’s husband is a very successful businessman, wouldn’t his annual activities prove interesting? Their annual required federal disclosures are no different than the President and very little detail can be gleaned from those reports.
Just the raw numbers would be news though.
I thought it was a violation of law to disclose someone else’s tax return.
I would like to see just how much money makes it’s way through Pelosi’s Goat Hill Pizza restaurant. Just for starters.
I have seen thousands of tax returns. Some from very wealthy or prominent people. They will tell the reader nothing important. There will be a hundred pages of Schedule E&R which will have summary numbers up the wazoo. And K-1’s with pass-though items with no identification other than dollar amounts. The best they will do is tell the reader how good his tax consultants were at minimizing his “taxable” income. Bunch or morons. I recall the first time I saw a really big tax return in 1981. B-U had 2500 subsidiaries. Each one had a K-1 with 5 or 10 numbers on it and not much else. I asked the CEO “what do all of these companies do? His answer: “Your guess is as good as mine.”
Is there an echo in here here here?
You know you can preview your posts to see if you pasted it twice.
Just show me the sexual harassment slush fund recipients.
https://www.indybay.org/newsitems/2018/06/18/18815756.php
http://michellemalkin.com/2010/08/18/pelosi-and-the-treasure-island-land-grab/
Trump should offer to release his tax returns if they release all the dirty details of the sexual slush fund. Gurantee his tax returns will never see the light of day. He actually could bargain for Obama transcripts and lots of info on Obama’s past in the deal.
I thought that guy at MSNBC - Smirky McSmirkface I think his name is - had a whole half hour show on tax returns he obtained, possibly illegally, only to show that... Trump made a lot of money and paid a lot of taxes.
These fools believe that DT's returns are akin to a 1040EZ or similar.
It should be a simple transparency law. You want to run for the Presidency, the Senate, or the House...and you win, then you have 90 days to submit tax returns for the past 3 to 5 years, with your private info ‘whited-out’, and post it so the public can see it themselves. If you did that, at least a quarter of the Senate would be embarrassed enough to quit.
Just draft up a law...maybe six lines max, and you can even call it the ‘show-me-yours’ law.
Just continue with Obama's 'Weaponized IRS' and 'leak' ALL Congress members, spouses and 'significant others' tax returns to the Press and the 'watchdog' organizations.
This would be done, of course, along with release of the details of the Congressional sexual harassment/coverup slush fund.
Most of what has been written about what can be learned from the Trump tax returns has no basis in reality. While the President's tax returns may be voluminous, his tax returns will yield far more questions than the occasional answer. For example, no tax return identifies lenders or whether the borrower has personal liability; tax returns only identify how much interest is paid. So, if President Trump borrowed funds from Russia or Bank of America, his tax returns would not disclose the lender. The tax returns will also not include the identity of the purchasers of his properties.
Keep the knifes sharp and the powder dry.
During one of the meetings, Trump asked Pelosi: "Why does everyone want to impeach me, Nancy?" To which Pelosi replied that no one wanted to impeach him, and tried to move back to border security... "The Vatican has walls. The Vatican has walls surrounding the city. You like the Vatican, Nancy?" ... "Let's change the subject, sir."
Often mentioned, off-on from MSM but never, never realized!
Would like to see where her money is made and invested
I’d be interested in calculating how much keeping minimum wage rules out of her cannery put into her pocket.
Why should ANY free American have to give up financial privacy, and be as observed as goldfish in a bowl, to run for office? If the returns have been privately audited by IRS, subject to judicial review, and found legitimate, that should be the end of it. Nobody should have to prove he’s not a criminal.
Attack, attack, attack.......
The President must attack and then destroy
The situation is kill or be killed.
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