Posted on 10/05/2020 6:31:44 PM PDT by SeekAndFind
Finally Trump’s tax returns have been made public. Here are the 10 big things you need to know about them:
1. Did he break the law? Almost surely. Details of tax practices suggest fraud on a massive scale. As Michael Bromwich, a former inspector general at the Justice Department, said yesterday, based on the Times’s story, Trump faces federal and state prosecution for bank fraud, tax fraud, wire fraud, and mail fraud, as does his entire family.
2. How little has he paid in taxes? In 11 of the 18 years examined, Trump paid no taxes at all. In his first year in office he paid the most income tax he had paid in a decade: $750. He has deducted taxes for almost everything imaginable, including $70,000 for hairstyling.
3. But he paid taxes in other nations where he did business? Yes, in 2017, when he paid $750 to the U.S., he paid $15,598 in Panama —$145,400 in India —$156,824 in the Philippines. So much for America first.
4. Why did Trump run for president? He was deeply in debt in 2015, and was, as his former fixer Michael Cohen said, eager to rebuild his brand by running for president. The presidency has injected cash into Trump’s businesses, as lobbyists and foreign governments have invested in them. But he’s still losing money.
5. How broke is he? He owes more than $300 million in loans and can’t repay them. His businesses are constantly losing money. He’s fighting with the IRS and could owe another $100 million to the government. So much for the “successful businessman” image.
6. Who does he owe money to? We don’t know. And that’s part of the problem. Because whoever he does has huge leverage over him.
7. Does this make Trump a national security risk? You bet. Note that a bipartisan group of nearly 500 national security officials, past and present, last week endorsed Biden for president. The list includes retired General Paul Selva, who served as vice chairman of the Joint Chiefs of Staff for the first two and a half years of Trump’s presidency.
8. Why is he so desperate to stay in power? Presumably because a sitting president cannot be indicted, and he won’t have to face federal and state prosecution.
9. What’s Trump’s reaction to this bombshell? Not surprisingly, he claims it’s “totally fake news.” But the easiest way to refute it would be to make his tax returns public, which he refuses to do.
10. Will this bombshell affect the election? Probably not. His followers live in a Fox News bubble that this news won’t permeate. It will only confirm what the rest of us already knew. Trump is a conman and a crook.
How many phone books does this fool have to sit on to reach the microphone. He’s always been an angry man ever since he knew that he was the last one to know when it rains.
Another person who has never created or contributed anything to society other than hot air
The irs would not let trukps tax accountants get away with fraud for two decades. He’s in a higher audit category to begin with.
They go after people who havent made any mistakes. If they thought a guy with hundreds of millions made mistakes and errors, they’d go after him because statistically they can get more from him for the same amount of time.
Robert Reich is hardly an objective unbiased source.
Just like Mini Robert Reich I have not seen the tax returns.
Based on my observation of President Trumps tax returns that I have not seen it would appear that President Trump paid one billion in taxes per week since he was in high school.
This guy did one good thing in his ife. He sat in front of me at symphony for one entire season. It was great And he didn’t wear a stupid charm bracelet and hum along with the symphony as the previous subscriber.
I’m pretty sure I could ask 10000 random people at a football game, and not one person would know who the hell Robert Reich is.
Has Reich ever been right about anything? Ever? Even once?
The Trump family should sue the ever living aspirations out of that sawed-off little prig.
Hear ye! Hear ye! Lord Farquaad has spoken!
Nobody that wants to see his returns will vote for him anyway.
Every one of us that will vote for PDJT is glad that he knows how to work the law in his favor. We want a leader on the world stage that will do the same for our country!
In his first year in office he paid the most income tax he had paid in a decade: $750. "
He did pay taxes, many millions of dollars in taxes. The liberals played fast and loose with their info. His millions of dollars of taxes were paid for by carrying forward overpayments from previous years, with the remaining balance of $750. Another thing, as President he has no income, donating his entire salary as President.
After spewing his rant Reich still comes up short.
One straw man after another... Running for re-election is desperation to stay in power? Who knew? If he broke the law why isn’t the IRS coming after him? The Munchkin is wrong again and as usual.
Every Republican is under investigation. So what?
This from a man who served in the cabinet of the most successful grifter in history. The Horny Hick from Hope, William J Clinton.
This article seems a little short on facts.
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