The tax returns are here! The tax returns are here!

[NoleATL]

IRS form 1031 exchange. /thread

Also why are we releasing private citizens tax returns?

Only holding Trump to his word. He said he’d release them. Did he change his mind or did he never intend to? He really wasn’t under audit, you know. That was a lie, too. On that topic? Why wasn’t he audited? It’s been a common occurrence for modern day presidents.

 

[cohawk]

It's like the Democrats have zero concept of how pendulums work.
You are out of gas Dems, your flailing.


My prediction:

More people from the J6 committee will face charges for their actions in the committee than people being investigated by the committee.

This might be the most idiotic thing I've read in a while and that says something.

 

[TJ8869]

I'm not talking carte blanche. I'm talking releasing the returns to the public.

Lol. Your logic is a fvcking mess here.

And the law clearly gives Congress to power to do so if they wish.

No, it does not. The law gives Congress the power to review his returns. It does not give them the power to release them to the general public. Quite the opposite, in fact. The law prohibits them from releasing them to the general public.

Aren't you wondering why the courts won't step in to block the release?

The courts aren’t stepping in to block the release because they weren’t asked to step in and block the release. Courts can only rule on what is presented to them.

The Ways and Means Committee asked the courts to grant the access to the returns under the guise of reviewing how the IRS processes returns for President and Vice-Presidents. And the courts granted them access to the returns for that purpose. At no time did any court tell them “go ahead and release them to the public if you want to.”

The Ways and Means Committee voted to grant themselves the power to release the returns to the general public.

If the Ways and Means Committee did that to a Democrat you would have a conniption. But it’s Trump, so “Yay! Fvck the Law!”.

 

[Formerly Rockymtnole]

If the Ways and Means Committee did that to a Democrat you would have a conniption. But it’s Trump, so “Yay! Fvck the Law!”.

I would expect this is coming. Hunter Biden’s returns will become front and center. And on and on and on…

 

[abby97]

Are you gonna be okay little boy?????

boy?

 

[Rifler]

One more step towards the abyss,.. Those who don't seem to understand how we ever got to this divisive place should not feign surprise when this newly created tool gets turned around and shoved up Dem asses...

 

[TheonGreyJoy]

boy?

Did I stutter?

 

[abby97]

Again, it’s customary but not obligatory.

The Ways and Means Committee requested the returns under the pretext of reviewing how the IRS processes the returns of Presidents and Vice-Presidents.

What exactly was the legal imperative for releasing them to the public?

This is why the dem party has become the anti American party. Do whatever to whomever for power,
the law be damned. Millions of illegal immigrants and drugs, so what? Crime going without prosecution fine, as long as it brings more power.

 

[abby97]

Did I stutter?

I think you were drooling.

 

[goldmom]

But accurate.

Just look at their promises to investigate Dr. Fauci.

"Vindictive" is the perfect description.

Reactive is the word I’d use but you do you.

 

[Whiskeydeltadeltatango]

This might be the most idiotic thing I've read in a while and that says something.

Might be.


An asteroid might hit the earth in 4 minutes.


A monkey might fly out of your ass.


A political committee releasing the tax returns of a US citizen to the public might be against the law also.


Might's are fun.

 

[TheonGreyJoy]

I think you were drooling.

Oh am Eye??????

 

[TheonGreyJoy]

Might be.


An asteroid might hit the earth in 4 minutes.


A monkey might flight out of your ass.


A political committee releasing the tax returns of a US citizen to the public might be against the law also.


Might's are fun.

A monkey did fly out of my ass.

 

[TJ8869]

I would expect this is coming. Hunter Biden’s returns will become front and center. And on and on and on…

Yep. If Republicans are somehow able to convince the courts to grant them access to Hunter’s returns, you can damn sure bet that they’re going to immediately release them to the public using this case as precedent.

And suddenly Huey and Joel will forget everything they’ve written in this thread and agree with me that it’s wrong for them to do that.

 

[Finance85]

You're the one basing this on feeling. The Courts said that Trump has no protections on this. I understand this hurts your feelings, but that's the way it is. Absent another court challenge Congress appears to have the rightful authority to do this.

The courts said Trump must provide his returns to Congress because there is a law that says Congress can have them for the purpose of making laws or policy. Congress (Dems) lied to the courts when they said they were requiring the returns for that purpose.

I think Trump should have voluntarily made his returns public, even though they won't show anything like what Joe's Place and others said they will show. What they will show is how little tax he's paid, and that he's not nearly the businessman he thinks he is.

 

[Whiskeydeltadeltatango]

A monkey did fly out of my ass.

Working all that OT has a price bruh!

 

[lucas80]

Yep.
Can’t...let...go.

How does it feel to pay more in taxes last year than Trump did?

 

[lucas80]

Here’s a really good analysis by the same blogger. Pretty much sums up where I’m at.
Here’s his conclusion:

To be sure, these considerations are less compelling in the case of a president, who already lives in a fishbowl. And in the president’s case, countervailing considerations support a norm of tax return disclosure. In a 2017 Yale Law Journal Forum article, I highlighted four reasons why presidents should make their returns public: to bolster taxpayer morale, to aid voters in evaluating whether the president’s tax policies are motivated by self-interest, to shine a light on nontax conflicts of interest that might affect the president, and to serve as a check on improper presidential influence over the IRS. In my view, these countervailing considerations are strong enough to justify a federal statute requiring presidents to release their returns. Every president since Jimmy Carter—with the exception of Trump—has done so voluntarily.

But a statute—adopted after robust debate—is different from a decision by members of one party on one committee in one chamber to release an individual’s returns on their own. At the very least, one would hope that the Ways and Means Committee would conscientiously consider taxpayer confidentiality interests before plowing ahead along an unusual procedural route. Yet one searches Tuesday’s report in vain for any evidence that members analyzed the implications of full disclosure.

A high-level summary would have sufficed to show that—notwithstanding Trump’s campaign trail claim that his returns were “very beautiful”—his filings contained items that should have merited further IRS scrutiny, such as a very large net operating loss carryforward that wiped away years of taxable income. We don’t need to know, for example, precisely how much interest income Trump received from his adult children on intrafamily loans in order to conclude that the IRS’s failure to audit Trump for his first two years in office was potentially consequential.

Moreover, it’s not clear why the committee decided to include Trump’s tax year 2020 returns in the data dump—except for the scintillating fact that Trump paid $0 of federal income tax for that year (which was probably not unusual for owners of hotel properties at the height of the coronavirus pandemic). Trump’s tax year 2020 returns weren’t due until after he left the White House, and none of Trump’s predecessors have released returns for their last full tax year in office. Obama didn’t release his tax year 2016 returns; George W. Bush didn’t release his tax year 2008 returns; Bill Clinton didn’t release his tax year 2000 returns; and so on. Ways and Means Democrats are applying a different standard to Trump than past presidents applied to themselves.

The report also says nothing about the potential downstream consequences of the disclosure, which may well set off an interparty tit-for-tat. Granted, Republicans won’t gain much mileage from releasing President Biden’s tax returns when they take control of the Ways and Means Committee, because Biden releases his returns each year. But the Wall Street Journal editorial board is already making noises about Hunter Biden’s tax returns, which may soon displace Hunter Biden’s laptop as a perennial object of GOP obsession. Or House Republicans may target the tax filings of the Ways and Means Democrats who voted to disclose Trump’s returns—many of whom haven’t deigned to release their own. A scenario in which the two parties weaponize individual tax returns for political ends is not a happy scenario for the federal tax system. Tuesday’s decision doesn’t guarantee that we’ll tumble down that slippery slope, but it may well nudge the nation in that direction.

“The public must have confidence that our tax laws apply evenly and justly to all, regardless of power or position,” the Ways and Means Committee wrote in its Tuesday report. As part of that, the public ought to be able to trust that the IRS will follow through on its promise to audit the president each year—and the committee deserves credit for revealing that this promise wasn’t fulfilled. But by the same token, the public ought to be able to trust that Congress—the body that wields the awesome power to tax—will think long and hard before exposing a private citizen’s tax returns to public view, even if that private citizen happens to be a former president of the United States with aspirations to occupy the White House again. And even when—at the end of the day—lawmakers decide that public disclosure is warranted, the minimum we should demand of them is that they recognize the weight of what they’re doing.

In short, the IRS appears to have fallen down on the job. But Democrats on the Ways and Means Committee—who promised to carry out a thorough review of the IRS’s presidential audit program, yet instead made a hair-trigger decision to release Trump’s tax returns—fell down on the job as well. And as a consequence, a pox on both Trump and the IRS has become a pox on the House too.

https://www.lawfareblog.com/house-d...-taxes-highlights-irss-failures—and-their-own

Do you think the GOP will get to the bottom of why Trump's tax returns weren't audited?
And, to the previous paragraph, the public must have confidence. I don't have confidence that people with means aren't gaming the system, or that Congress is doing it's job. I won't cry one tear over Trump's returns being released. It isn't like this is the one thing that will make the GQP go after Hunter Biden.
We have a public interest in people like Trump who gamed the system. Or, who most likely broke laws.

 

[lucas80]

Yep. If Republicans are somehow able to convince the courts to grant them access to Hunter’s returns, you can damn sure bet that they’re going to immediately release them to the public using this case as precedent.

And suddenly Huey and Joel will forget everything they’ve written in this thread and agree with me that it’s wrong for them to do that.

I won't if they can provide a compelling public interest in Hunter's returns.
Are you going to honestly say that we weren't going to get a steady diet of Hunter next year and in 2024 already?
You are working overtime today. Have a glass of water and take a few minutes off.

 

[TheonGreyJoy]

Working all that OT has a price bruh!

Oh yeah Boi! You gobblin some poppers for new years?

 

[Formerly Rockymtnole]

This is why the dem party has become the anti American party. Do whatever to whomever for power,
the law be damned. Millions of illegal immigrants and drugs, so what? Crime going without prosecution fine, as long as it brings more power.

I disagree with the House Dems on the tax returns but this is a silly post. “The Anti-American” party?

Come on.

 

[ICHawk-I]

The courts said that? The courts said j6 needed them, not the public, is my understanding.

The courts have long held that part of a healthy democracy and holding politicians accountable includes sharing of matters of interest to the public. I would say Trump, as a POTUS and candidate, falls under that umbrella as a public figure. If his tax returns show nothing nefarious, then he can laugh and say he told us so. If they show he falsified the returns in any way, then he needs to be held accountable.

You may not agree that its not right to release them and that Trump is owed some privacy but the courts have spoken and laws have been broken. Sorry that your feelings are hurt.

 

[MitchLL]

Yep. If Republicans are somehow able to convince the courts to grant them access to Hunter’s returns, you can damn sure bet that they’re going to immediately release them to the public using this case as precedent.

And suddenly Huey and Joel will forget everything they’ve written in this thread and agree with me that it’s wrong for them to do that.

Which political office is Hunter Biden seeking?

TIA

 

[BGHAWK]

The courts said Trump must provide his returns to Congress because there is a law that says Congress can have them for the purpose of making laws or policy. Congress (Dems) lied to the courts when they said they were requiring the returns for that purpose.

I think Trump should have voluntarily made his returns public, even though they won't show anything like what Joe's Place and others said they will show. What they will show is how little tax he's paid, and that he's not nearly the businessman he thinks he is.

The returns may show a little more than what you state. lol

 

[Whiskeydeltadeltatango]

The courts have long held that part of a healthy democracy and holding politicians accountable includes sharing of matters of interest to the public. I would say Trump, as a POTUS and candidate, falls under that umbrella as a public figure. If his tax returns show nothing nefarious, then he can laugh and say he told us so. If they show he falsified the returns in any way, then he needs to be held accountable.

You may not agree that its not right to release them and that Trump is owed some privacy but the courts have spoken and laws have been broken. Sorry that your feelings are hurt.

What law was broken by Trump? If you find yourself having to adjust facts to make your narrative work, you have lost. Feel that one pal.

 

[Whiskeydeltadeltatango]

Raise your hand if you think there could have even been a morsel of dirt in those returns and chis wouldn't have already posted 4k tweets.

 

[Whiskeydeltadeltatango]

Oh yeah Boi! You gobblin some poppers for new years?

Hahaha Nah bruh. I actually just had the "let's go hang out for awhile but head home before the OSU game so we don't have to deal with Drunk drivers" convo. I am a borings now.

 

[TheonGreyJoy]

Hahaha Nah bruh. I actually just had the "let's go hang out for awhile but head home before the OSU game so we don't have to deal with Drunk drivers" convo. I am a borings now.

Welcome to the club mang!

 

[TJ8869]

Which political office is Hunter Biden seeking?

TIA

Why should that matter? The law applies equally to everyone, regardless of whether or not you’re running for office.

 

[TJ8869]

I won't if they can provide a compelling public interest in Hunter's returns.

A compelling public interest doesn’t supercede the right to privacy. Not for Trump and not for Hunter.

Are you going to honestly say that we weren't going to get a steady diet of Hunter next year and in 2024 already?

Of course we were and of course we are. Except that now Democrats have given Republicans justification for doing so.

You are working overtime today. Have a glass of water and take a few minutes off.

I’m trying to get to 50K before HORT implodes this weekend. If you could toss a few courtesy likes my direction I’d be much obliged.

 

[Kelsers]

Reactive is the word I’d use but you do you.

Reactive to what?

 

[Chishawk1425]

🎤

 

[luvmyhawks]

The returns may show a little more than what you state. lol

Like what. Here is all 3000 pages for you. Feel free to find the big ol gotcha hidden in there we have been hearing about FOREVER.

Trump’s tax returns released, launching fresh scrutiny of his finances

The documents, covering 2015 to 2020, could provide new insight into Trump’s wealth, the performance of his business empire and how he was able to reduce his tax liability.

www.politico.com

 

[timinatoria]

He promised to release them when he ran for President. He should have released them when he became President. And he is running for President again. It's more than fair to make them public.

Then make it the law. Otherwise this is a cheap political stunt and nothing more.

 

[goldmom]

How does it feel to pay more in taxes last year than Trump did?

I didn’t but I wish I had the income. 😉

 

[goldmom]

Reactive to what?

Uh...witch hunt? Desperate efforts that used taxpayer money? Need to keep Trump front and center?

 

[Rifler]

How does it feel to pay more in taxes last year than Trump did?

Feels just fine if he's following current tax law...

 

[abby97]

I disagree with the House Dems on the tax returns but this is a silly post. “The Anti-American” party?

Come on.

I'm sorry I believe the dem party has jumped the shark.

 

[sabula]

Adam Schiff is going to be one of the first people that goes to jail over his Trump derangement syndrome. Dude was hell bent on taking Trump down, he certainly crossed lines to find dirt somewhere.

That's a joke. If Schiff goes to jail I'll send $1000 to your fav charity. If he actually ends up in jail you donate to mine. Zero chance I lose that bet. Give it a 2 year window. Zero chance. Trump is still out of jail, so nobody is going to jail.

 

[MitchLL]

Why should that matter? The law applies equally to everyone, regardless of whether or not you’re running for office.

In reality, it matters because Turd is running for public office and I doubt HB ever will.

There's always the fear that elected officials can or have been compromised.

It's more common sense and national security than anything else.