Posted on 02/24/2016 8:25:17 AM PST by Kaslin
Famously on the Hugh Hewitt radio show, Donald Trump demonstrated that he had not the slightest idea of the United States' nuclear deterrent strategy, the nuclear triad. (The nuclear triad is the ability of the United States to respond to a nuclear attack via strategic bombers, land based intercontinental ballistic missiles and sea based intercontinental missiles. This week, also on the Hugh Hewitt radio show, Mr. Trump responded again to the question of releasing his tax returns: "They're very complex papers, but we're working on it .... I have to ask my accounting people. But we'll be working on it." Apparently the Xerox machine is broken.
Equally famously, Harry Reid from the lectern in the U.S. Senate declared regarding Mitt Romney:"So the word is out that he has not paid any taxes for 10 years." Donald Trump can expect the same from Harry Reid should it become clear that Mr. Trump has the Republican nomination in his grasp.
If the public is to learn about Donald Trump, the man, there is a triad of documents that need be released immediately. First, Mr. Trump should release his federal and state tax income returns for 2012 and 2013. Second, Mr. Trump should release his college transcripts. Third, the public needs to understand how much money was lost by his investors and who those investors (direct and indirect) were in his four corporate bankruptcies.
With respect to his federal and state income tax returns, all Mr. Trump needs is a Xerox machine. Given his myriad investment entities, that Xerox machine will be busy for a while, but that is the only tool required to release his tax returns. (If Mr. Trump is going green, he could alternatively use a scanner.) If he is thinking about releasing redacted tax returns which is the only reason he could not release his returns literally today, then he need tell the public he is afraid for voters to see his complete tax returns.
Given access to the finest legal and accounting gurus in the world, Mr. Trump's tax returns should be an absolute fascination. There are so many interesting questions that may be answered in his tax returns.
What is Mr. Trump's actual tax rate? Removing his residences from his net worth statement, Mr. Trump should have adjusted gross income of over $400 million if he is earning a five percent return on his disclosed net worth. That should result in a staggering amount of Federal taxes.
Is Trump organized in such a way that he is paying taxes at capital gains rates rather than ordinary income tax rates because he is using the carried interest loophole? The tax return may not reveal precisely whether his branding transactions are structured to result in capital gains treatment, but it makes a great follow-up question.
Is Trump paying taxes as a New York resident or is he claiming to be a Florida resident?
Mr. Trump's released financial statements indicate very, very little debt on his properties relative to their fair market value. His tax returns should confirm his low leverage by including very little interest expense on his properties.
Is any of Mr. Trump's income sheltered overseas? Are his individual investments profitable?
Before his decision to run for the presidency, was he making significant cash contributions to charity?
It is also time for Trump to release his college transcripts. He should demonstrate that his transfer from Fordham to Penn's Wharton School was based upon academic achievement at Fordham. Then since he repeatedly informs the public how smart he is, perhaps Mr. Trump can let us in on his academic achievements at Wharton. Was he an honors graduate?
Mr. Trump has repeatedly stated accurately that he has never gone bankrupt; he only used the bankruptcy laws with his corporate investments as is perfectly legal. Absolutely correct, but who were the financial victims of those bankruptcies. It appears tens or perhaps hundreds of millions of dollars were lost by investors in Donnie Trump's Atlantic City casino investments. Were his ultimate investors (losers) pension funds that support millions of retired and soon to be retired individuals? Were the ultimate investors (losers) state pension funds that required additional taxpayer contributions (taxes) to offset the money lost in those casinos when and after Mr. Trump put them into bankruptcy? Who were the real financial victims of Mr. Trump's disastrous investments in Atlantic City?
If Mr. Trump really wants to be President of the United States, he should be releasing all of the information mentioned in this piece so we can know more about him.
Are you serious? The cronies are fighting tooth and nail to deny him this nomination and this election.
He is not a creeping socialist as is the entire democrat party and a huge portion of the republican party. He is a bald-faced capitalist, he’s forced to operate in a pay-to-play system, and he’s out to smash it, because it’s gotten to the point that it is dysfunctional.
“For someone like Trump, to quibble over whether he got good grades in his MBA program is absolutely absurd. Lots of people get MBAs, few of them go on to build empires.”
That is true, but the trouble with that kind of thing is you are using reason, logic, and facts, a bridge too far for some people, especially a pundit who has an axe to grind or a deadline to meet, or a deceptive narrative to create.
Someone who benefits from connections with the big banks and supports TARP is by definition a crony capitalist. His shady business dealings at the expense of the little guy will all be exposed by the MSM if he gets the nomination.
I think you don’t know what a crony is.
If they are trying to kill you, you’re not a crony.
They beat him up over something that doesn’t exist. There hasn’t been a nuke Triad since SAC got the sack decades ago.
I could say the same thing to you. Look up the definition. Trump has benefited from his relationships with the big banks and supports bailing them out. The money never gets to the little guy/small business, just the big guys. Where is your proof that Goldman Sachs is "trying to kill" Trump?
In this cycle, Bush, Clinton and Sanders have already released theirs. Last time, Romney had already released them (going back over 20 years!)
As to his school transcripts; he should publish his transcripts, when Obastard publishes his transcripts.
Trump is no authoritarian. He has many libertarian leanings, to be fair. And he will show loyalty to the people who elected him.
Trump will absolutely demolish the status quo in Washington, for both parties, and there's nothing that is more important than that. NOTHING.
He is a crony capitalist who supports TARP and the bailouts.
Crony capitalist? Compared to 0bama, previous Presidents, and Congress? You're delusional.
Make no mistake: Trump is flawed in many ways. But he loves his country and will work his butt off for the People to do what he believes is the right thing.
Inasmuch as he's supported some bailouts, Trump is far from perfect. But the proper governmental policies would probably have prevented the "necessity" for most of those bailouts in the first place.
Trump will cut corporate welfare more than any President in the last 30 years. He'll cut the deficits and start paying down the national debt.
Also, be aware of the fact that Trump isn't just about money. He could be taking in millions of dollars from wealthy donors, and yet he is turning them down.
The polls show Cruz beating Hillary and trump losing to her.
You are grasping at straws while jumping the shark. Such polls are, and always have been, meaningless, 8 months out from a general election.
If you think Trump is merely a cult of personality, you have totally missed the boat, and are being willfully blind.
Trump is a man of IDEAS. And a lot of his ideas about immigration, terrorism, trade, veterans, common core, the Second Amendment, etc., make plenty of sense.
So take your broad-brush smears and have a good day...
Whereas Bill Gates never finished college at all, everything Trump has done in the nearly fifty years since graduation don't count!
The pecksniffian butthurt from this guy's candidacy is astounding.
Trump is no authoritarian. He has many libertarian leanings, to be fair. And he will show loyalty to the people who elected him.You mean like his enthusiastic support for Eminent Domain for his limo parking lot?
You mean like his recent statement that the the federal government should hang on to federal land, because "the people" can't be trusted to take care of it?
Trump is no libertarian.
And, I agree that he will "take care" of his friends, I believe he will also punish anyone who didn't support him. I don't want that in a President, even if I were one of his "friends".
Just go on thinking it will be "amazing." Unless you have ESP you really don't know what Trump would do since he has no core principles as he has demonstrated. I do know what Cruz would do since has lived up to his word to fight GOPe.
I will take my principles and have a nice day. I am not engaging in smearing- just stating facts you refuse to look at. Bye.
That's false. You're obfuscating. I didn't engage in any name calling against you AT ALL.
Nice try.
If calling someone delusional and willfully blind as you did to me does not qualify as name calling, I will leave you to your alternate reality. Bye.
That's quite a defense mechanism you've got going there: if, during the course of a discussion, somebody says something critical of your position, or characterizes your perception in a negative way, that's suddenly "name-calling".
How very convenient.
I don't get accused of name-calling very often, and that's probably because reasonable people don't hysterically retreat to that accusation when subjected to a mildly (or even harshly) critical statement.
"Trumpbot", "Trumpet", "Cruzbot", etc.: that's name-calling.
You need to learn to distinguish between bona fide name-calling versus engaging in an energetic (or even heated) discussion.
So, once again, I reject your false accusation...
” Donald Trump can expect the same from Harry Reid should it become clear that Mr. Trump has the Republican nomination in his grasp.”
The difference is that Trump will not BUCKLE AND FOLD like Romney - rather Mr. Reid will have HELL TO PAY if he tries a stunt like that on Trump.
That’s why Trump has so much support, at this point.
Ping
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