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knapplc

Trump's Taxes

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I wonder when the Republicans are going to again bring up the outrage about 47% of Americans not paying income taxes.

 

 

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So... this may be the end of this particular talking point by the Trumpists.

 

 

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Why would Trump be embarrassed by his tax returns?

Acting White House Chief of Staff Mick Mulvaney sat down with CBS News’ Major Garrett this week for a podcast interview that covered a fair amount of ground. Of particular interest, though, was the exchange that began at the 23:12 mark of the conversation.

 

The host noted that the Treasury Department has refused a congressional order to turn over Donald Trump’s tax returns, and Garrett asked why. This was the exchange that followed:

MULVANEY: Because they are not entitled to see them by law. By the way, they know, especially on this one, they know they’re never going to get these documents. This is a pure show-pony-type of situation. They know the legal reasons they can get those documents –

GARRETT: Legitimate legislative function.

MULVANEY: Right. And they’re not even close to that… They’re just doing this to make the president look bad. They don’t care. This is not about information about the president. Keep in mind, all of the president’s financial holdings, by law, are disclosed. Want to know what the president owns? Want to know how he makes money? All of that stuff is, by law, I have to fill out my form by the end of next week. So does he. This is just about trying to embarrass the president.

GARRETT: What’s embarrassing about his tax records?

MULVANEY: That’s what they want to know.

GARRETT: But what is it?

MULVANEY: I don’t know because I’ve never seen

GARRETT: Is there something embarrassing about his tax records?

MULVANEY: I have no idea and I don’t care.

 

 

 

 

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1 hour ago, deedsker said:

So this is why the infrastructure talks sank today?

 

Cool.

The one thing I actually thought Trump would come through on was some type of infrastructure bill.  It would be a real chance to put his name on a new highway, bridge, airport, or rail system of sorts.  And it would have been championed by almost everyone.  It had the potential to make swing voters "forget" about a lot of the stupid stuff he does/says on a daily basis.  

 

Instead, he went all in with a losing hand (at least it should be).  He was winning the messaging war about Dems being obstructionists and not wanting to "come to the table."  When they came to the table, he's the one that said he wouldn't talk.  It should be game over, but who knows....?

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3 hours ago, funhusker said:

The one thing I actually thought Trump would come through on was some type of infrastructure bill.  It would be a real chance to put his name on a new highway, bridge, airport, or rail system of sorts.  And it would have been championed by almost everyone.  It had the potential to make swing voters "forget" about a lot of the stupid stuff he does/says on a daily basis.  

 

Instead, he went all in with a losing hand (at least it should be).  He was winning the messaging war about Dems being obstructionists and not wanting to "come to the table."  When they came to the table, he's the one that said he wouldn't talk.  It should be game over, but who knows....?

 

Well, you see, Nancy Pelosi essentially called him a mean name he didn’t like, and we can’t have that.

 

Trump just took the one thing that had the potential to make him popular with anyone outside his base and flushed it down the toilet. Because Democrats were mean and used a word he didn’t like.

 

Master stroke by Pelosi to goad him into shooting himself in the foot, too. Another reminder that the president lacks the emotional maturity to lead a kindergarten class, much less run the country.

 

i don’t ever want to hear a woman accused of being “too emotional” in politics again.

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1 hour ago, BigRedBuster said:

:laughpound

 

Yeah....there's nothing to see there.

 

 

I hope we get to see his tax returns some day. With all the s#!t he says publicly with no shame like being attracted to his daughter and backing neo nazis whatever is in his tax returns must be terrible if he won't allow them to be made public.

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1 minute ago, LumberJackSker said:

I hope we get to see his tax returns some day. With all the s#!t he says publicly with no shame like being attracted to his daughter and backing neo nazis whatever is in his tax returns must be terrible if he won't allow them to be made public.

Right now he’s hoping that one benefit of losing in 2020 is that this lawsuit drags out till he’s out of office and it’s dropped. 

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Here's a possible reason why Trump doesn't want to show his tax returns - he engages in fraud.

 

 

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Never-Before-Seen Trump Tax Documents Show Major Inconsistencies

Documents obtained by ProPublica show stark differences in how Donald Trump’s businesses reported some expenses, profits and occupancy figures for two Manhattan buildings, giving a lender different figures than they provided to New York City tax authorities. The discrepancies made the buildings appear more profitable to the lender — and less profitable to the officials who set the buildings’ property tax.

 

For instance, Trump told the lender that he took in twice as much rent from one building as he reported to tax authorities during the same year, 2017. He also gave conflicting occupancy figures for one of his signature skyscrapers, located at 40 Wall Street.

 

Lenders like to see a rising occupancy level as a sign of what they call “leasing momentum.” Sure enough, the company told a lender that 40 Wall Street had been 58.9% leased on Dec. 31, 2012, and then rose to 95% a few years later. The company told tax officials the building was 81% rented as of Jan. 5, 2013.

 

A dozen real estate professionals told ProPublica they saw no clear explanation for multiple inconsistencies in the documents. The discrepancies are “versions of fraud,” said Nancy Wallace, a professor of finance and real estate at the Haas School of Business at the University of California-Berkeley. “This kind of stuff is not OK.”

 

New York City’s property tax forms state that the person signing them “affirms the truth of the statements made” and that “false filings are subject to all applicable civil and criminal penalties.”

 

The punishments for lying to tax officials, or to lenders, can be significant, ranging from fines to criminal fraud charges. Two former Trump associates, Michael Cohen and Paul Manafort, are serving prison time for offenses that include falsifying tax and bank records, some of them related to real estate.

 

 

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2 minutes ago, knapplc said:

Here's a possible reason why Trump doesn't want to show his tax returns - he engages in fraud.

 

 

 

 

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Fraud, while in office. 

 

Imagine if you grossly misrepresented your income to obtain a favorable mortgage.

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Couple things: I haven't read too deeply, but is he still "vested" in these companies/buildings, or are they part of the greater Trump organization? And secondly, do you really think he would take the fall for tax fraud, or would it be some sacrificial lamb within the company?

 

 

 

Anybody watch succession? This season is striking similar to real life, and the last episode they were trying to decide who their fall guy would be for the company hiding sexual assault allegations.

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