I’m baaack.
So Trump’s tax forms…
https://www.usatoday.com/story/news/politics/2022/12/30/documents-trump-tax-returns/10965563002/
have been released, and he’s bummin’ (predictably).
“The top tax-writing committee in Congress released former President Donald Trump’s tax returns to the general public Friday morning, ending a years-long battle and shedding light on a complicated labyrinth of businesses and holdings typical of billionaires but rarely seen in detail by the public.
The release included six years of tax returns for the time he was president and campaigned for the presidency, from 2015 to 2020. Thousands of pages across dozens of files included personal returns filed by him and wife Melania and business returns for a handful of entities, including DJT Holdings and DJT Managing Member LLC.
The returns span nearly 6,000 pages, including more than 2,700 pages of individual returns from Trump and his wife, Melania, and more than 3,000 pages in returns for Trump’s business entities.”
https://www.usatoday.com/story/news/politics/2022/12/30/trump-tax-returns-release-experts-deductions/10955777002/?csp=chromepush
As for those “business entities”, let’s not forget that they are in some trouble, right about now, which could very well reflect directly on Trump.
“A jury in New York has convicted the Trump Organization of criminal tax fraud in a stinging rebuke of the former US president’s company.
Although Donald Trump was not personally on trial, prosecutors in the case brought by the Manhattan district attorney insisted he was fully aware of the long-running scheme in which they said executives were enriched by off-the-books perks to make up for lower salaries, reducing the company’s tax liabilities.
“This was a case about greed and cheating,” Alvin Bragg, the Manhattan district attorney, said in a statement celebrating the guilty verdict. “In Manhattan, no corporation is above the law.”
The 12-person jury in New York’s state court was sent out to deliberate on Monday morning after a six-week trial in which Trump Organization lawyers pinned blame for the fraud solely on the greed of longtime chief financial officer Allen Weisselberg.”
https://www.theguardian.com/us-news/2022/dec/06/trump-organization-guilty-verdict-tax-fraud
“During their deliberations, jurors had zeroed in on the last count listed on the verdict sheet: falsifying business records. Jurors sent notes twice Tuesday asking for clarity on the falsifying business records charge and a reading of related testimony.
Weisselberg testified that he ordered accounts payable supervisor Deborah Tarasoff to delete “per Allen Weisselberg” notations from entries in Trump’s personal general ledger reflecting that Trump personally paid private school tuition for Weisselberg’s grandchildren.
First, jurors asked the judge to reread the charge and the elements they are required to find for a guilty verdict. Later, they asked to again hear Tarasoff’s testimony. Tarasoff, a Trump Organization veteran, testified that Weisselberg called her into his office and told her, “Go in and take my name off it” in September 2016.
After resuming deliberations Tuesday, jurors sent a note asking the judge to reread three counts of falsifying business records pertaining to the creation of false W2 tax forms for Weisselberg for 2015, 2016 and 2017.”
https://www.theguardian.com/us-news/2022/dec/06/trump-organization-guilty-verdict-tax-fraud
“The Trump Corp. and Trump Payroll Corp. were found guilty on all charges they faced.”
https://www.cnn.com/2022/12/06/politics/trump-organization-fraud-trial-verdict/index.html
To be certain, this doesn’t look good on Trump, given his organizations have been found deeply, and criminally corrupt, and everyone is trying to pin this directly on Trump, himself, whether they have evidence, or not, I imagine. Then, there’s the fact that his tax returns seem to have a lot of irregularities, in and of themselves:
“A key Congressional committee that reviewed the returns before their release raised questions about hundreds of millions of dollars in deductions and credits that reduced how much Trump and his related companies would have needed to pay in taxes. They also questioned interest income from loans made to his children and unusual accounting calculations.
The Joint Committee on Taxation, staffed with tax experts, found Trump only paid $1.1 million in federal income taxes during the first three years of his presidency and paid no federal tax in 2020 – the year that he claimed a loss of $4.8 million.”
https://www.usatoday.com/story/news/politics/2022/12/30/trump-tax-returns-release-experts-deductions/10955777002/?csp=chromepush
Now, Trump’s less than critical thinker defenders all try pointing to the $1,100,000.00 payment in taxes, but they also lie by omission, in not putting into context the fact that he paid that over the span of 3 years, meaning he only paid some $366,666/year. Given the convoluted, unconstitutional system of taxation that totally violates the vision of the Founders and Framers that the Republicans and Democrats have foisted upon us, that kind’ve seems abnormal. Unfortunately, instead of clarity after years of literally hiding this data, Trump resorted to “whataboutism” arguments, and demanded Biden release his tax returns. Or, more directly, that Congress take Biden’s returns, and release them, like they did his.
Trump blasted Democrats for releasing his tax returns, arguing the premise that it would guide tax law changes is baseless. He said in a video statement that the release is an “outrageous abuse of power” and urged House Republicans taking over the chamber in January to obtain President Joe Biden’s taxes and release them.
Trump said his returns show “show only that I’ve had tremendous success.”
https://www.usatoday.com/story/news/politics/2022/12/30/trump-tax-returns-release-experts-deductions/10955777002/?csp=chromepush
That’s a highly subjective statement, from a “businessman” of Trump’s noted caliber.
In any event, Biden’s tax returns are already public. He released his 1998 – 2019 tax returns, years ago, and, when he did it, challenged Trump to do the same (and we all know Trump refused, and kept them hidden). This also brings up other problems: Biden has a lot of things dogging his steps, such as his crackhead son, and his less than savory business deals, including those with America’s enemies, like Communist China. Did Joe Biden get a cut of that, like many believe? I’ll bet his tax returns don’t reflect that.
Again, Trump’s less than intellectual followers are reliably going to automatically say everyone is wrong, and Trump is responsible for nothing. If Trump’s tax returns, indeed, showed nothing but allegations that Trump “…had tremendous success,” why would he hide that? (One of) Trump’s biggest problems is his inability to override his ego, and his mouth. Combined, they are two of his worst enemies. A guy like Trump can’t resist flaunting his wealth, so it makes no sense, and is completely out of character, that he wouldn’t use his tax returns to show ‘how much better he is, than everybody else’. Honestly, it seems like he did have something to hide, and it’s coming out.
Businesses expenses zeroing out taxes
Many businesses for which Trump and his wife filed taxes from 2015 through 2020 made no money. Often, they reported only expenses, or they reported income that was almost entirely offset by the reported expenses, effectively zeroing out any taxes owed. The filings raise questions about “whether these were valid trade or business activities” or “costs derived from personal activities or hobbies,” the committee experts wrote.
- Donald J. Trump’s speaking business reported income of $50,000 in 2015 and travel expenses of $46,162.
- In 2016, DT Endeavor I LLC — Trump’s private aviation company — reported income of $680,886 and expenses of $680,886. The same for DJT Aerospace LLC, another aviation company, which reported gross income of $376,493 and total expenses of $376,493 in 2016.
- In 2019, a business filing for “Melania Trump (modeling)” reported gross income of $3,848 and expenses of $3,438.
- In 2020, another filing reported as “Donald J. Trump (management services)” reported gross income of $87,442 and expenses of $87,442.
Some filings also reported losses with large discrepancies between gross income and expenses. For example, in 2018, DJT Endeavor I reported gross income of $38,392 and expenses of $312,773, meaning the company operated at a net loss of $274,381. In 2019, another aviation company, DJT Operations II LLC reported no gross income at all while there were expenses of $7,382.
https://www.usatoday.com/story/news/politics/2022/12/30/trump-tax-returns-release-experts-deductions/10955777002/?csp=chromepush
It goes on, and on, and on. This is, in part, biting Trump in the ass, because he deserved it. Oh, and let’s not pretend that Democrats don’t have their own tax irregularities in their skeleton closets. The Republicans were greatly responsible for the foisting of permanent, unconstitutional income taxation on the People, and have never been held accountable. Just as Democrats point fingers at Republicans, blaming them for their bad behavior, the Republicans do it, too. Trump could’ve called the Republicans and Democrats to account for this gross violation of the vision of the Founders and the Framers. Just because you amend something in the Constitution, doesn’t really make it Constitutional. Taxation, and the mechanism was already laid out in the document. In Michigan, for instance, the Legislature has literally made constitutional the ritualized murder of unborn children, by writing it in, but that does not make it constitutional. It violates the very spirit of the document. Just as writing in blood the non-existent, “constitutional” right to murder doesn’t really make it legal, neither did the 16th Amendment make government theft right. In any event, Trump could’ve called Congress, the States, and the People, together, and – in his claims of only hiring the best people – had his “best” people work out an overturning of the 16th Amendment, which has done the country no good. SPOILER ALERT: the government is not entitled to a cut of your money. Furthermore, Trump could’ve worked to actually make good on his promise to cut spending. He didn’t. There was no abatement to the unconstitutional spending Congress loves to indulge in. Had he spend his time doing things like this, instead of what he was doing, not only would the Average American, and the American business have more money in their pockets, it would be their own money, instead of some kind of “stimulus” check (which is nothing more than UBI). Had he tried doing that, and got some retroactivity in that, a lot of people would be out of tax debt and sticky situations, including him, and his businesses. Trump was popular with his less thoughtful, more reactionary base, but not much with anybody else. Love him, or hate him, if he had conquered income tax, only a fool would not vote for him, if he promised further such reforms. Problem is, like all politicians (and their mindless minions), his interests weren’t really with the Constitution; everything, especially for him, was motivated by self interest.