Why the public must see the tax returns of Donald Trump

Forum Forums Politics Why the public must see the tax returns of Donald Trump

This topic contains 10 replies, has 6 voices, and was last updated by  SteveL 9 months, 2 weeks ago.

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  • #18010 Score: 0

    oregonliberal
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    Many will remember Nixon’s quote below but mistakenly think it involved Watergate. It actually involved Nixon’s tax returns.

    “People have got to know whether or not their President is a crook. Well, I am not a crook.”

    – Preident Nixon, November 1973

    Nixon fought releasing his tax returns saying they were under audit [sound familiar]. A government audit later found that Nixon owed another $476,431 or about $2.5 million in today’s dollars. Nixon earned almost $800,000 in 1970, 1971, and 1972 yet paid less than $6,000 in taxes. And Nixon earned far, far more than $800,000 because he didn’t properly report the sale of property and land and overvalued charitable donations. Nixon also took deductions that weren’t legal.

    $6,000 is 0.75% of $800,000. And at the time federal taxes were higher than they are now.

    Nixon paid no state or D.C. income taxes in his 1970, 1971, and 1972 tax returns even though money was owed.

    Adjusted Gross Federal Income / What Nixon Paid

    1970: $262,942 / Taxes: $792

    1971: $262,384 / Taxes: $878

    1972: $268,777 / Taxes: $4,298

    “On October 4, the Providence Journal-Bulletin published an article asserting that Nixon and his wife had paid only $792.81 in federal income taxes for 1970 and $878.03 in 1971, despite having a joint income of more than $200,000 in each year. The revelation, which the White House eventually confirmed, gave a stark populist cast to the presidential tax debate. The New York Times observed that Nixon’s payments were “about the same tax as would have been paid by a family of three with an income between $7,500 and $7,550 in 1970 and a family of three with an income between $8,450 and $8,500 in 1971.”

    http://www.taxhistory.org/thp/readings.nsf/cf7c9c870b600b9585256df80075b9dd/f8723e3606cd79ec85256ff6006f82c3?OpenDocument

    http://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=9&cad=rja&uact=8&ved=0ahUKEwitrJnCz9XMAhVR5WMKHX73A2kQFghEMAg&url=http%3A%2F%2Fuschs.org%2Fwp-content%2Fuploads%2F2016%2F02%2FUSCHS-History-Role-Joint-Committee-Taxation-Thorndike.pdf&usg=AFQjCNHPV3n_QEyc-w4Gd3C_WNL7ZKiXDw&bvm=bv.121658157,d.cGc

  • #18019 Score: 0

    supergnat
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    There’s four decades of precedent for major party candidates releasing tax returns. What’s Trump hiding?

  • #18025 Score: 0

    progressivejack
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    Hillary Clinton released tax returns going back to 1977. I wouldn’t be surprised if Trump pays no taxes.

  • #18026 Score: 0

    SteveL
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    Trump had to give his tax returns to the New Jersey Casino Control Commission when he applied for a casino license in 1981. The returns showed he paid no federal income tax in 1978 and 1979 and less than $75,000 TOTAL in 1975, 1976, and 1977 (about $25,000 each year).

  • #18027 Score: 0

    Marty
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    “I think there’s something there. Either he’s not anywhere near as wealthy as he says he is or he hasn’t been paying the kind of taxes we would expect him to pay, or perhaps he hasn’t been giving money to the vets or to the disabled like he’s been telling us he’s doing.”

    – Mitt Romney

    “Realistically, Romney is right. Trump could absolutely release those returns now – even in the middle of an audit. While an audit could result in a change (or two) to his returns, it does not change what Trump filed, signing “Under penalties of perjury, I declare that I have examined this return and accompanying schedules and statements, and to the best of my knowledge and belief, they are true, correct, and complete.”

    http://www.forbes.com/sites/kellyphillipserb/2016/02/26/trump-wont-release-tax-returns-citing-irs-audit-is-it-a-legitimate-excuse/#182dc1ed66d0

  • #18035 Score: 0

    supergnat
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    Trump claimed on his candidate financial disclosure that his 147-acre luxury golf course in Westchester County, New York is worth at least $50 million. He brags about it.

    When it comes to taxes, Trump’s lawyers have said the course is worth $1.35 million. That alone would cut his tax burden on the property by 90% forcing you, I, and all other taxpayers to make up for it.

  • #19816 Score: 0

    progressivejack
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    So presidential appointees have to provide every tax return and loan and investment document in their lives yet the Donald provides NOTHING. He loses my vote if returns aren’t released.

  • #19818 Score: 0

    oregonliberal
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    We’ll never see the returns for this reason.

    “Among 1,931 registered voters polled, 45% said that not releasing a tax return made them view Trump less favorably. Furthermore, 37% of likely voters said it made them less likely to vote or him.”

    “Trump has claimed to give many millions away in charity, but the Washington Post has found evidence that Trump has given less than $10,000 of his own money to charity since 2008. If the returns showed that Trump had donated less to charities than he has previously claimed, a significant chunk of people—including 45% of Republicans and 41% of independent voters—say that will make them less likely to vote for him.”

    http://fortune.com/2016/08/05/trump-tax-return-voters/

  • #19842 Score: 0

    Marty
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    The Times has a piece out about on who Trump owes money to. It includes Germany and China. I remember his son saying Russia. Since Trump is obsessed with money we need to know what countries and banks can sway his decisions as president.

    It’s absurd that he can hide his returns.

    http://www.nytimes.com/2016/08/21/us/politics/donald-trump-debt.html?_r=0

    Trump’s real estate holdings in the United States reveals that companies he owns have at least $650 million in debt — twice the amount than can be gleaned from public filings he has made as part of his bid for the White House.

  • #19969 Score: 0

    jackiemckenna
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    Obvious Trump pays no taxes and maybe nothing on everything he’s ever pocketed. What about the years not under audit? Trump is hiding stuff because he’s even refused to reveal basic stuff about his taxes like his overall tax rate.

  • #19974 Score: 0

    SteveL
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    I’m shocked that anyone would want to see Donald Trump’s tax returns. The audacity of some people wanting to pry into a person’s private life is plain un-American. Trump has been open and honest about women being inferior to men and his statements make it clear he hates Hispanics, Blacks, Muslims and Jews.

    The poor man is only trying to survive in this world and he built his business with his own set of family values, those being a total lack of ethics proven by the massive amount of civil and criminal suits, along with five bankruptcies where the “little people” got screwed. Then there’s the ripoffs of condo buyers, investors, Trump U students, and most others who’ve had the misfortune to get involved with this con man.

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