// Required code

Announcement

Collapse

Civics 101 Guidelines

Want to argue about politics? Healthcare reform? Taxes? Governments? You've come to the right place!

Try to keep it civil though. The rules still apply here.
See more
See less

Why did Trump conceal his tax records?

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Why did Trump conceal his tax records?



    Source: https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?action=click&module=Spotlight&pgtype=Homepage



    LONG-CONCEALED RECORDS SHOW TRUMP’S CHRONIC LOSSES AND YEARS OF TAX AVOIDANCE

    The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.

    By Russ Buettner, Susanne Craig and Mike McIntire

    Sept. 27, 2020

    • 1701

    Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.

    He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.

    As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.
    The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.

    The New York Times has obtained tax-return data extending over more than two decades for Mr. Trump and the hundreds of companies that make up his business organization, including detailed information from his first two years in office. It does not include his personal returns for 2018 or 2019. This article offers an overview of The Times’s findings; additional articles will be published in the coming weeks.

    The returns are some of the most sought-after, and speculated-about, records in recent memory. In Mr. Trump’s nearly four years in office — and across his endlessly hyped decades in the public eye — journalists, prosecutors, opposition politicians and conspiracists have, with limited success, sought to excavate the enigmas of his finances. By their very nature, the filings will leave many questions unanswered, many questioners unfulfilled. They comprise information that Mr. Trump has disclosed to the I.R.S., not the findings of an independent financial examination. They report that Mr. Trump owns hundreds of millions of dollars in valuable assets, but they do not reveal his true wealth. Nor do they reveal any previously unreported connections to Russia.

    THE PRESIDENT’S TAXES

    Charting An Empire: A Timeline Of Trump’s Finances18 Revelations From a Trove of Trump Tax RecordsAn Editor’s Note on the Trump Tax Investigation

    In response to a letter summarizing The Times’s findings, Alan Garten, a lawyer for the Trump Organization, said that “most, if not all, of the facts appear to be inaccurate” and requested the documents on which they were based. After The Times declined to provide the records, in order to protect its sources, Mr. Garten took direct issue only with the amount of taxes Mr. Trump had paid.

    “Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015,” Mr. Garten said in a statement.

    With the term “personal taxes,” however, Mr. Garten appears to be conflating income taxes with other federal taxes Mr. Trump has paid — Social Security, Medicare and taxes for his household employees. Mr. Garten also asserted that some of what the president owed was “paid with tax credits,” a misleading characterization of credits, which reduce a business owner’s income-tax bill as a reward for various activities, like historic preservation.

    The tax data examined by The Times provides a road map of revelations, from write-offs for the cost of a criminal defense lawyer and a mansion used as a family retreat to a full accounting of the millions of dollars the president received from the 2013 Miss Universe pageant in Moscow.

    © Copyright Original Source

    Glendower: I can call spirits from the vasty deep.
    Hotspur: Why, so can I, or so can any man;
    But will they come when you do call for them? Shakespeare’s Henry IV, Part 1, Act III:

    go with the flow the river knows . . .

    Frank

    I do not know, therefore everything is in pencil.

  • #2
    Why did Trump conceal his tax records?
    Because it's none of our business.

    /thread
    Some may call me foolish, and some may call me odd
    But I'd rather be a fool in the eyes of man
    Than a fool in the eyes of God


    From "Fools Gold" by Petra

    Comment


    • #3
      Originally posted by Mountain Man View Post
      Because it's none of our business.

      /thread
      Tax evasion is of interest and concern of the public and the Internal Revenue Service
      Glendower: I can call spirits from the vasty deep.
      Hotspur: Why, so can I, or so can any man;
      But will they come when you do call for them? Shakespeare’s Henry IV, Part 1, Act III:

      go with the flow the river knows . . .

      Frank

      I do not know, therefore everything is in pencil.

      Comment


      • #4
        Originally posted by shunyadragon View Post

        Tax evasion is of interest and concern of the public and the Internal Revenue Service
        There is no evidence that Trump is guilty of tax evasion. If he was, the IRS would have busted him a long time ago. This is another nothing-burger. Careful you don't bite your tongue trying to chew it.
        Some may call me foolish, and some may call me odd
        But I'd rather be a fool in the eyes of man
        Than a fool in the eyes of God


        From "Fools Gold" by Petra

        Comment


        • #5
          Originally posted by Mountain Man View Post
          There is no evidence that Trump is guilty of tax evasion. If he was, the IRS would have busted him a long time ago. This is another nothing-burger. Careful you don't bite your tongue trying to chew it.
          No tongue biting involved he is under investigation in New York for this. Trump has a vast legal support to force the gears of justice to move slowly.
          Glendower: I can call spirits from the vasty deep.
          Hotspur: Why, so can I, or so can any man;
          But will they come when you do call for them? Shakespeare’s Henry IV, Part 1, Act III:

          go with the flow the river knows . . .

          Frank

          I do not know, therefore everything is in pencil.

          Comment


          • #6
            Why would Trump try to conceal his taxes?
            • Because paying less tax than a minimum wage worker doesn't look good
            • Because making constant huge business losses doesn't look good
            • Because tax evasion and fraud doesn't look good
            • Because huge outstanding loans doesn't look good
            All of the above.

            Comment


            • #7
              Originally posted by shunyadragon View Post

              Source: https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?action=click&module=Spotlight&pgtype=Homepage



              LONG-CONCEALED RECORDS SHOW TRUMP’S CHRONIC LOSSES AND YEARS OF TAX AVOIDANCE

              The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.

              By Russ Buettner, Susanne Craig and Mike McIntire

              Sept. 27, 2020

              • 1701

              Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.

              He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.

              As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.
              The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.

              The New York Times has obtained tax-return data extending over more than two decades for Mr. Trump and the hundreds of companies that make up his business organization, including detailed information from his first two years in office. It does not include his personal returns for 2018 or 2019. This article offers an overview of The Times’s findings; additional articles will be published in the coming weeks.

              The returns are some of the most sought-after, and speculated-about, records in recent memory. In Mr. Trump’s nearly four years in office — and across his endlessly hyped decades in the public eye — journalists, prosecutors, opposition politicians and conspiracists have, with limited success, sought to excavate the enigmas of his finances. By their very nature, the filings will leave many questions unanswered, many questioners unfulfilled. They comprise information that Mr. Trump has disclosed to the I.R.S., not the findings of an independent financial examination. They report that Mr. Trump owns hundreds of millions of dollars in valuable assets, but they do not reveal his true wealth. Nor do they reveal any previously unreported connections to Russia.

              THE PRESIDENT’S TAXES

              Charting An Empire: A Timeline Of Trump’s Finances18 Revelations From a Trove of Trump Tax RecordsAn Editor’s Note on the Trump Tax Investigation

              In response to a letter summarizing The Times’s findings, Alan Garten, a lawyer for the Trump Organization, said that “most, if not all, of the facts appear to be inaccurate” and requested the documents on which they were based. After The Times declined to provide the records, in order to protect its sources, Mr. Garten took direct issue only with the amount of taxes Mr. Trump had paid.

              “Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015,” Mr. Garten said in a statement.

              With the term “personal taxes,” however, Mr. Garten appears to be conflating income taxes with other federal taxes Mr. Trump has paid — Social Security, Medicare and taxes for his household employees. Mr. Garten also asserted that some of what the president owed was “paid with tax credits,” a misleading characterization of credits, which reduce a business owner’s income-tax bill as a reward for various activities, like historic preservation.

              The tax data examined by The Times provides a road map of revelations, from write-offs for the cost of a criminal defense lawyer and a mansion used as a family retreat to a full accounting of the millions of dollars the president received from the 2013 Miss Universe pageant in Moscow.

              © Copyright Original Source

              Because it's nobody's business?

              And no, the returns do not show 'tax avoidance'. They show that he has good accountants. Tax avoidance is illegal. Nothing in those taxes show anything illegal. They just show that he hired accountants who know Edited by a Moderator.

              Moderated By: QuantaFille

              You've been warned recently about your language. You know better.

              ***If you wish to take issue with this notice DO NOT do so in this thread.***
              Contact the forum moderator or an administrator in Private Message or email instead. If you feel you must publicly complain or whine, please take it to the Padded Room unless told otherwise.

              Last edited by QuantaFille; 09-27-2020, 11:33 PM.

              Comment


              • #8
                Originally posted by Gondwanaland View Post

                Because it's nobody's business?
                It is the business of the public and IRS, and at least New York.where hearings are presently being held concerning Trump's Taxes.

                And no, the returns do not show 'tax avoidance'. They show that he has good accountants. Tax avoidance is illegal. Nothing in those taxes show anything illegal. They just show that he hired accountants who know Edited by a Moderator
                Like all Trumpster Dumpsters you are dodging the unethical, immoral and illegal enterprises of Trump.

                The hearing in New York where his son is forced to testify now tells a different story. Trump's changes in the tax law over whelming accelerated the national debt, and did not benefit the Middle Class.
                Last edited by QuantaFille; 09-27-2020, 11:34 PM. Reason: Quoting modded text
                Glendower: I can call spirits from the vasty deep.
                Hotspur: Why, so can I, or so can any man;
                But will they come when you do call for them? Shakespeare’s Henry IV, Part 1, Act III:

                go with the flow the river knows . . .

                Frank

                I do not know, therefore everything is in pencil.

                Comment


                • #9
                  Originally posted by shunyadragon View Post

                  Source: https://www.nytimes.com/interactive/2020/09/27/us/donald-trump-taxes.html?action=click&module=Spotlight&pgtype=Homepage



                  LONG-CONCEALED RECORDS SHOW TRUMP’S CHRONIC LOSSES AND YEARS OF TAX AVOIDANCE

                  The Times obtained Donald Trump’s tax information extending over more than two decades, revealing struggling properties, vast write-offs, an audit battle and hundreds of millions in debt coming due.

                  By Russ Buettner, Susanne Craig and Mike McIntire

                  Sept. 27, 2020

                  • 1701

                  Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.

                  He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.

                  As the president wages a re-election campaign that polls say he is in danger of losing, his finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million.
                  The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.

                  The New York Times has obtained tax-return data extending over more than two decades for Mr. Trump and the hundreds of companies that make up his business organization, including detailed information from his first two years in office. It does not include his personal returns for 2018 or 2019. This article offers an overview of The Times’s findings; additional articles will be published in the coming weeks.

                  The returns are some of the most sought-after, and speculated-about, records in recent memory. In Mr. Trump’s nearly four years in office — and across his endlessly hyped decades in the public eye — journalists, prosecutors, opposition politicians and conspiracists have, with limited success, sought to excavate the enigmas of his finances. By their very nature, the filings will leave many questions unanswered, many questioners unfulfilled. They comprise information that Mr. Trump has disclosed to the I.R.S., not the findings of an independent financial examination. They report that Mr. Trump owns hundreds of millions of dollars in valuable assets, but they do not reveal his true wealth. Nor do they reveal any previously unreported connections to Russia.

                  THE PRESIDENT’S TAXES

                  Charting An Empire: A Timeline Of Trump’s Finances18 Revelations From a Trove of Trump Tax RecordsAn Editor’s Note on the Trump Tax Investigation

                  In response to a letter summarizing The Times’s findings, Alan Garten, a lawyer for the Trump Organization, said that “most, if not all, of the facts appear to be inaccurate” and requested the documents on which they were based. After The Times declined to provide the records, in order to protect its sources, Mr. Garten took direct issue only with the amount of taxes Mr. Trump had paid.

                  “Over the past decade, President Trump has paid tens of millions of dollars in personal taxes to the federal government, including paying millions in personal taxes since announcing his candidacy in 2015,” Mr. Garten said in a statement.

                  With the term “personal taxes,” however, Mr. Garten appears to be conflating income taxes with other federal taxes Mr. Trump has paid — Social Security, Medicare and taxes for his household employees. Mr. Garten also asserted that some of what the president owed was “paid with tax credits,” a misleading characterization of credits, which reduce a business owner’s income-tax bill as a reward for various activities, like historic preservation.

                  The tax data examined by The Times provides a road map of revelations, from write-offs for the cost of a criminal defense lawyer and a mansion used as a family retreat to a full accounting of the millions of dollars the president received from the 2013 Miss Universe pageant in Moscow.

                  © Copyright Original Source

                  Because he's Rich, and its known that the democrats would go over it with a fine-tooth comb to find anything they could manufacture outrage on. I mean, Harry Reid straight up lied in order to manufacture outrage against Romney. The more important question is given the Democrats propensity to do so, why would ANY republican candidate release their tax returns?

                  Comment


                  • #10
                    By the way many people suffered financially and many went bankrupt in the trail of financial disaster of Trump's incompetence. or maybe intentional manipulation on his part. Bankruptcy only benefits corporation going under, and of course Trump when he ducks out before the House of Cards fall.
                    Glendower: I can call spirits from the vasty deep.
                    Hotspur: Why, so can I, or so can any man;
                    But will they come when you do call for them? Shakespeare’s Henry IV, Part 1, Act III:

                    go with the flow the river knows . . .

                    Frank

                    I do not know, therefore everything is in pencil.

                    Comment


                    • #11
                      Originally posted by shunyadragon View Post
                      It is the business of the public
                      It's no business of the public

                      and IRS,
                      The IRS already had them, genius.

                      and at least New York.where hearings are presently being held concerning Trump's Taxes.
                      And?


                      Like all Trumpster Dumpsters
                      Not sure what that means. If it means a Trump supporter, I'm sorry you live in such a binary world that you think those who disagree with you automatically support Trump. Didn't vote for him last election, not voting for him this election.

                      you are dodging the unethical, immoral and illegal enterprises of Trump.

                      The hearing in New York where his son is forced to testify now tells a different story. Trump's changes in the tax law over whelming accelerated the national debt, and did not benefit the Middle Class.
                      Nothing to do with the topic.

                      Comment


                      • #12
                        Looking further through the various information that's come out today, it appears Trump is broke, and that he owes over $1b in outstanding loans to foreign entities due soon.

                        I wonder what foreign powers will do with the leverage they have over him through this huge debt?

                        Comment


                        • #13
                          Originally posted by Gondwanaland View Post

                          Because it's nobody's business?

                          And no, the returns do not show 'tax avoidance'. They show that he has good accountants. Tax avoidance is illegal. Nothing in those taxes show anything illegal. They just show that he hired accountants who know Edited by a Moderator.

                          Moderated By: QuantaFille

                          You've been warned recently about your language. You know better.

                          ***If you wish to take issue with this notice DO NOT do so in this thread.***
                          Contact the forum moderator or an administrator in Private Message or email instead. If you feel you must publicly complain or whine, please take it to the Padded Room unless told otherwise.

                          Tax evasion is illegal. Tax avoidance is what you get with good accountants.

                          I'm always still in trouble again

                          "You're by far the worst poster on TWeb" and "TWeb's biggest liar" --starlight (the guy who says Stalin was a right-winger)
                          "Of course, human life begins at fertilization that’s not the argument." --Tassman

                          Comment


                          • #14
                            Originally posted by Starlight View Post
                            it appears Trump is broke, and that he owes over $1b in outstanding loans to foreign entities due soon.
                            Who can forget Trump's famous poem, "Ode to Debt", which he composed live on CNBC on May 5, 2016:

                            I am the king of debt.
                            I do love debt.
                            I love debt and I love playing with it.


                            although, personally, I think the poem would have been greatly improved if Trump had repeated the first line at the end of the poem, therefore emphasizing the poem's theme that Trump IS the King of Debt.

                            Below is my revised and much improved version of Trump's poem:


                            ODE TO DEBT
                            by Donald J. Trump.


                            I am the king of debt.
                            I do love debt.
                            I love debt and I love playing with it.
                            I am the king of debt.
                            "The Republicans are the party that says government doesn't work and then they get elected and prove it." - P. J. O'Rourke

                            Comment


                            • #15
                              Originally posted by shunyadragon View Post
                              It is the business of the public and IRS, and at least New York.where hearings are presently being held concerning Trump's Taxes.

                              Like all Trumpster Dumpsters you are dodging the unethical, immoral and illegal enterprises of Trump.

                              The hearing in New York where his son is forced to testify now tells a different story. Trump's changes in the tax law over whelming accelerated the national debt, and did not benefit the Middle Class.
                              It is funny watching your people salivate over this hoax.

                              Russia has to be in there somewhere.....oh ya, he made money from the misses universe thingy in Russia. Shocking!

                              Maybe you can roll impeachment into a two pronged strategery. Impeach because the IRS didn't find anything illegal, and impeach because he presented a justice for a vote, like the constitution says.

                              You will win over AOC and her minions. Are you an AOC minion? Just askin.

                              Comment

                              Related Threads

                              Collapse

                              Topics Statistics Last Post
                              Started by Whateverman, Today, 12:47 PM
                              7 responses
                              24 views
                              0 likes
                              Last Post rogue06
                              by rogue06
                               
                              Started by Ronson, Today, 10:00 AM
                              31 responses
                              216 views
                              2 likes
                              Last Post Ronson
                              by Ronson
                               
                              Started by seanD, 10-18-2020, 05:25 PM
                              2 responses
                              63 views
                              3 likes
                              Last Post seanD
                              by seanD
                               
                              Started by Whateverman, 10-18-2020, 01:23 PM
                              8 responses
                              86 views
                              2 likes
                              Last Post Whateverman  
                              Started by CivilDiscourse, 10-18-2020, 10:30 AM
                              67 responses
                              426 views
                              0 likes
                              Last Post Whateverman  
                              Working...
                              X