Trump's tax returns to be released to the Dems...

#427
#427
BigOrangeMojo said:
Who is ready to see Trump's taxes?

I'm curious since I think it will confirm my educated guesses about his business acumen but I REALLY, REALLY, REALLY do not like the precedent being set here....
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REALLY, why?
How about if all elected people at the federal level must show taxes?
 
#432
#432
hog88 said:
Nobody should be required to disclose their tax returns.
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I'm OK with disclosing returns as long as there is ENACTED LEGISLATION requiring office holders to disclose at least a summary. There's already plenty of financial disclosures required NOW.

The BS reasons for seeing Trump's returns are just that, BS...
 
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#433
#433
BigOrangeMojo said:
This is a political witch hunt, nothing more. That's a horrible precedent.

If Congress believed people running for the President needs to disclose their returns, ENACT LEGISLATION
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Every pres since Nixon has voluntarily released their return. 1/2 century.
Why weren't Trump's returns audited while he was in office? Seems odd?
 
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#434
#434
BigOrangeMojo said:
I'm OK with disclosing returns as long as there is ENACTED LEGISLATION requiring office holders to disclose at least a summary. There's already plenty of financial disclosures required NOW.

The BS reasons for seeing Trump's returns are just that, BS...
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Agreed. This precedent pretty much guarantees only career politicians will seek the office going forward.
 
#435
#435
Go aeiou said:
Every pres since Nixon has voluntarily released their return. 1/2 century.
Why wasn't Trump's returns audited while he was in office? Seems odd?
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Let’s see proof that they weren’t audited. The exact quote was something like “they weren’t really audited”. What does that mean?
 
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#436
#436
BigOrangeMojo said:
I'm OK with disclosing returns as long as there is ENACTED LEGISLATION requiring office holders to disclose at least a summary. There's already plenty of financial disclosures required NOW.

The BS reasons for seeing Trump's returns are just that, BS...
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If they had been audited Maybe bs, not audited though. Hard to believe. Who is running the IRS?

Why not the whole return. The devil is in the details.
 
#438
#438
Go aeiou said:
Every pres since Nixon has voluntarily released their return. 1/2 century.
Why wasn't Trump's returns audited while he was in office? Seems odd?
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Again, ENACT legislation like you have with other campaign finance documents.

Not to take IRS's side here but Trump's business returns, which flow through to his personal returns, are LB&I cases with expert referrals. Those take 18-24 months to complete with taxpayers meeting all the deadlines throughout. Uaually LB&I include 2 or 3 years at a time. His 15 and 16 returns were selected in Spring 2019 and his 2017 and 2018 returns in Spring 2021. Since Trump has made little money, he had huge losses from years prior to 2015, which were still being audited. You can't really complete 15 and 16 if loss carryforwards aren't audited yet...
 
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#440
#440
BigOrangeMojo said:
I actually believe he has big losses. He lost a ton with casinos. He's losing a ton now with golf coursrs. He'd be a whole lot wealthier than he is now based on market appreciation alone. The losses (and his lifestyle) is the only reason why he isn't worth 11 figures today given where he started.

I see a lot of legal tax planning (historical credits/AMT carryforwards/charitable CFs, cancellation of debt deferral). There's a sketchy easement in 2015 but he hasn't even monetized that yet due to insufficient income...
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I'm not doubting the losses at all. I'm saying that on its face it's hard to understand how he has these losses seemingly year in and year out and has the lifestyle he does.
 
#441
#441
lawgator1 said:
I'm not doubting the losses at all. I'm saying that on its face it's hard to understand how he has these losses seemingly year in and year out and has the lifestyle he does.
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He’s figured out the loopholes and you haven’t.
 
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#444
#444
BigOrangeMojo said:
Again, ENACT legislation like you have with other campaign finance documents.

Not to take IRS's side here but Trump's business returns, which flow through to his personal returns, are LB&I cases with expert referrals. Those take 18-24 months to complete with taxpayers meeting all the deadlines throughout. Uaually LB&I include 2 or 3 years at a time. His 15 and 16 returns were selected in Spring 2019 and his 2017 and 2018 returns in Spring 2021. Since Trump has made little money, he had huge losses from years prior to 2015, which were still being audited. You can't really complete 15 and 16 if loss carryforwards aren't audited yet...
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Sounds like Technical issues.
I have no problem with more agents. At least it used to be that an agent brought in several times their salary. Honest mistakes and dishonest filing.
 
#447
#447
lawgator1 said:
I'm not doubting the losses at all. I'm saying that on its face it's hard to understand how he has these losses seemingly year in and year out and has the lifestyle he does.
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Here's how. Let's say on 1/1/75, your dad gave you $100 million bucks. He said "Son, I want you to invest half in the S&P 500 and the other half on hookers and blow". If you followed his advice, you'd be richer than Trump today...
 
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