Supreme Court temporarily halts court order requiring accountants to turn over Trump’s tax returns

CNBC.com ^ | 11/18/2019 | Jacob Pramuk

[Oldeconomybuyer]

That this case went this far is a travesty of justice.

[PMAS]

Tax returns don’t show net worth anyway, it shows how much income, sources of income and deductions.
Trump’s accountants take every available deduction like any good accountant would do

[CurlyDave]

...I never said Trump was hiding anything. But right now he has a choice between releasing his tax returns and getting the Left to shut up forever about them or dragging his feet while they convince the fence sitters that he’s behaving in a suspicious manner...

As a small-time real estate investor, I can tell you that there are hundreds of perfectly legal deductions which would sound very bad to anyone not in the business. DJT is a big-time real estate operator and has thousands more of these things.*

The Dems would have a field day leaking perfectly legitimate things and saying he "cheated" on his taxes.

* Just as a "for instance". DW and I show a tax loss on our buildings, even though they throw off a substantial amount of spendable cash. The Dems would claim that DJT is a terrible businessman, unable to make money on any of his investments, even though they might be generating hundreds of millions in spendable cash.

The explanation for why this is the case is long, boring and going to put 99% of all voters to sleep.

[CommieCutter]

Well now it will be out in the open instead of Rats getting away with it in secret like they’ve always done.

[Qiviut]

The one motive that was openly stated is the one that Alec Baldwin mused : Trump isn’t really a billionaire.

+++++++++++++++++++++++++++++++++++++++++++++++++++++

Along the Alex Baldwin line of ‘reasoning’, I think what they’re trying to do is find proof that Trump falsified/lied on net worth statements that he used to get loans from banks ... his properties weren’t/aren’t what he stated they were worth. That was my understanding ...

Per this article, Congress critters are also trying to find evidence of “foreign influence in the U.S. political process” which is cr@p - like that is going to show up in anyone’s tax returns? Anyway, they just KNEW DB had the info they wanted, but DB now has said they don’t (’curses, foiled again!):

Deutsche Bank doesn’t have Trump’s tax returns, court reveals
https://www.marketwatch.com/story/deutsche-bank-doesnt-have-trumps-tax-returns-court-reveals-2019-10-10

[odawg]

“If there were any anomalies or violations of the tax codes, isn’t it the job of the IRS to flag this?”

That has been my question for a long time.

I suppose they think they will discover: Income item: $3,000,000.00 from Russian oligarch for favors granted.

[Dave W]

Because diplomats have immunity and presidents do not.

[kabar]

OK, can someone please explain to me this obsession with Trump’s tax returns?

Trump has an army of accountants that prepare his three foot high tax returns. The Reps are not looking for tax violations.

The Dems see Trump's tax returns as an operations research document. They want to see how much taxes he pays; how rich he is; what investments he has; how much he owes; and any other derogatory information.

Trump is a businessman. Letting his competitors see his tax returns could hurt his business. It could affect his ability to obtain loans.

We have never had a President who has owned an international, family-owned, multi-billion dollar business. Teresa Heinz did not divulge her entire tax return citing family trusts and privacy. Trump should not be forced to release his tax returns.

[dhs12345]

I guess we will all get to find out after the Dems leak Trumps financial information.

[ElkGroveDan]

You don’t pay taxes on your “net worth”, only the current year’s income.

Yes I know. I file tax returns too.

The fact is that a glance at several consecutive years' tax returns can reveal a whole lot about a person's means/income/worth. It's possible he has a trillion dollars hidden under a mattress somewhere but more likely that a large percentage of his assets are earning him income.

[Trump Girl Kit Cat]

Tax returns are NO ONES business except when getting a loan at a bank and YOU give access!! I am actually quite STUNNED no one has leaked them for money!!!

[Political Junkie Too]

Besides embarrassing him if he's worth less than he's publicly stated, they want to know how much tax he paid. They think he paid zero federal income taxes, and want to hammer him over that.

Also, they want to see his deductions so they can hammer him on "tax shelters," implying they are illegal, unethical, or the rich taking advantage of something not available to the rest of us.

Also, they want to see his bankruptcies and losses, so they can say that he's not as good a deal maker as he says he is.

-PJ

[Deo volente]

When it goes to the Supremes, Trump usually wins.

Hope Roberts doesn't screw it up.

[shotgun]

Obama placed a nuclear stranglehold on anything related to his past, but Trump is denied the same privileges.

Obama also got a judge to unseal court documents of his Senatorial opponent as well. He was taking at the time and this move sank his Republican opponent on grounds of marital infidelity or something along those lines.

[lee martell]

I’m sure in pained Judge Roberts to admit this was the most logical choice, whether one ‘likes’ this particular president or not. Sotomayor gave him the Evil Eye.

[Track9]

The wiener nation was moaning about this. “What does he have to hide..” bla bla bla. Of course if the shoe was on the other foot, he’d be whining like he’s known to.

[Track9]

Exactly

[Reagan80]

Yes; Obama’s Senate opponent had naked pictures of his own wife. Somehow that was embarrassing and scandalous enough to sink the candidacy of an R.

It cleared the decks for an Obama free shot at a U.S. Senate seat. Since he was then currently a State Senator in Illinois, I would guess a fair number of his voters (alive or dead, since it’s Chicago we are talking about here); either thought he was simply running for re-election to his current seat, or had no idea there was any difference between State Senate and U.S. Senate.

[COBOL2Java]

Stay away from Jerry Nadler. He go boom

[shotgun]

Thank you for clarifying it! FReepers have great memories.