Posted on 07/09/2020 7:52:30 AM PDT by servo1969
The Supreme Court on Thursday ruled that President Trump is not immune from a subpoena over his financial and tax records to Democratic Manhattan District Attorney Cyrus Vance, Jr., -- and declined in a separate case to issue a definitive ruling on whether congressional committees can have access to Trump's financial records, throwing both issues back to lower courts.
Vance had subpoenaed Trump's records as part of a criminal investigation into potential wrongdoing by the president and his organization. Multiple House committees had subpoenaed Trump's records ostensibly as part of an effort at oversight and to inform potential legislation.
"President is neither absolutely immune from state criminal subpoenas seeking his private papers nor entitled to a heightened standard of need," Chief Justice John Roberts wrote in the court's majority opinion in the New York case. The court limited its ruling and the arguments before it to whether Trump has "absolute immunity" and state prosecutors are required to show a "heightened need" in order to obtain documents as part of investigations into a president.
The president "may raise further arguments as appropriate," in lower courts in an effort to keep Vance from obtaining his documents, Roberts wrote.
Roberts also authored the opinion in the House case.
"Without limits on its subpoena powers, Congress could 'exert an imperious controul' over the Executive Branch and aggrandize itself at the President's expense, just as the Framers feared," he wrote.
The rulings, in the near term, represent a partial victory for the president -- he will not have to turn over financial documents in the midst of a fraught presidential election.
(Excerpt) Read more at foxnews.com ...
No, they won't. Both cases are remanded to their respective trial courts. No documents were ordered to be released.
The expectation is, I believe, that Trump’s net worth is a small fraction of the billions he claims.
A typical scenario is this ...
RedStateRocker owns a luxury residential tower in midtown Manhattan. It has an appraised value of $250 million.
Donald Trump owns an identical building next door. It has an appraised value of $350 million -- presumably because people are willing to pay far more to live in a building called Trump Tower than to live in one called RedStateRocker Tower.
The dilemma in all of these cases is that the value of the brand name can be highly subjective, and therefore comes under a lot of scrutiny by investors, lenders, etc.
To me, one of the most fascinating things about Trump's business practices is that he is willing to take a financial hit by organizing his business in a way that exposes him to more risk and seems to heighten his tax exposure. Everything I've seen indicates that he sets up his various business ventures as sole proprietorships and partnerships ... and maybe occasionally as a closed corporation (presumably with only internal family shareholders).
I think that would help him...
It's a win. A win for Trump and a win for the county. Without this ruling the ONLY people who could run for office would be corrupt insiders. Like Biden's son - who took bribes but 'know' how to do it so it was legal.
Interesting. You are quite probably right.
Personally, I think this has been a red herring all along; that there’s nothing untoward in his taxes, but by trying to keep them secret he’s caused his enemies to use a lot of time, money, energy and credibility. Then when they are revealed it’s a big ‘yawn’.
I think the left is going after the taxes because Trump’s claim to fame is that he is a great businessman. They think if they show he’s actually deeply in debt and it’s a all a Ponzi type fraud it will hurt him.
You know, I haven’t been to Drudge in forever and I just fired up and old computer that I had that as my home page.
Did Drudge sell his site? Looking at the headlines today and how they were written it is shocking how twisted he went there. He is actively gloating over everything liberal, and not just Trump which turned me off to begin with.
Yeah, it was Joe Wilson.
An income tax return does not necessarily give an indication of one's total wealth. Two people can have the same taxable income with vastly different levels total wealth.
That may change once the democrats achieve their dream of a total wealth tax.
I always thought that Trump was protecting future presidents. His taxes are audited every year. If there was something criminal it would have been leaked - I’m assuming everyone at the IRS hates him.
He pays millions of dollars in taxes. He donates his entire paycheck.
Yep, they split the baby.
I suspect out of fear rather than conviction.
We have ceded FAR to much power to the courts. At some point we’ll have to take it back whether anyone likes it or not.
Or we shall perish as a nation.
But...….if the IRS had found something wrong or illegal enough to charge Trump with something then it would make the news....Same with the state of NY Revenue service. None of those agencies have made any criminal referrals...right? So the only thing the congress or the NY prosecutors office will find is simply stuff to try to embarrass Trump over....but nothing they can jail him for. Congress wants to find evidence of Russian business contacts and business dealings but if there is nothing illegal from a tax stand point what could they charge him with other than than to raise allegations and stick their tongues out at him!
I am sure if they find one minor thing wrong with Trump’s stuff or any of that from his family even if it is a minor underwear donation that should not have been itemized the news would be out faster than jack flash! I think that has been Trump’s point all along....if they find something wrong the IRS and the NY tax authorities will charge him for it and he’ll pay the fines.
Everything is digital...there is no hiding the signal or the money! The Dems are stupid!
I think that’s the point. I suspect one reason Trump didn’t release the tax documents was to give a target for the Democrats. Let the Democrats spend millions of dollars in law fees trying to get his tax records.
Yes we can start with Robert’s adoption records and any taxes and deductions he took while playying multi-country monte in securing two Irish children for adoption.
Trump playing Brer president....oh don’t throw me into that tax briar patch....finally he sighs of oh okay look at them if you must and they find nothing with which they can charge him with....heh heh!
I read this as a WIN for President Trump!!
The Supreme Court just Granted Trump and AG Barr the Absolute Right to JAIL Barry the Muslim and all of his followers in the Seditious Conspiracy to Overthrow the United States Government.
Right, which is a crime, of course.
If they can't print dirt then the media will say "We will not release the information except to say we saw shocking, horrendous, impeachable felonies on every page. If we could print this there would be scarcely one vote for Trump in the election."
declined in a separate case to issue a definitive ruling on whether congressional committees can have access to Trump’s fin
The key, they still can’t
Basically, they are attempting to get him to drop out of the race.
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