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

[hawkland14]

You are a decent poster in the Lounge, you lose it when you go Team Red. Answer honestly as a lawyer, do you think Trump is in a good place right now? The Trump Org conviction eases future prosecutions on financial crimes, and we now see he fudged his personal returns. The documents case is pretty straightforward. The GA case has a compelling witness in Brad Raffensperger and Trump on tape.

Trump has never been in a good place legally as he is a crook and at some point he might actually get charged and convicted. But Team Blue has been saying it for seven years now. At some point saying the same thing over and over again has to get old.

 

[Funky Bunch]

This is to me the most disheartening passage from the House report:

C. The IRS should provide adequate and appropriate staffing and resources necessary for a full and timely audit of the President and prescribe that the audit team be comprised of two senior IRS agents, a partnership specialist, a foreign specialist, and a financial products specialist.

Findings:
1. Insufficient IRS funding creates incentives for some taxpayers to take aggressive tax positions. The Inflation Reduction Act provides a long-term investment of $79 billion in the IRS to improve tax fairness by, among other improvements, increasing the examinations of high-income taxpayers with complex partnership and passthrough returns.

2. The mandatory audit of the former President was conducted, mostly, by one revenue agent. The individual tax return of the former President included the activities of hundreds of related and pass-through entities, numerous schedules, foreign tax credits, and millions of dollars in NOL carryforwards. The revenue agent noted that the lack of resources was the reason for not pursuing certain issues on the former President’s returns. An internal IRS memo stated: “With over 400 flow-thru returns reported on the Form 1040, it is not possible to obtain the resources available to examine all potential issues.”

3. Former IRS Commissioner Rettig testified before the Committee that the IRS does
“not have the resources to go after the bigs or the superbigs, as we refer to them, and we get outgunned routinely in that space.”
resources.

This is mine. But I am not surprised. Where are all the Lois Lerner haters on this?

The mandatory audit of the former President was conducted, mostly, by one revenue agent

 

[Funky Bunch]

Not a law. It’s an internal policy set out in the Internal Revenue Manual.

I agree with you and don't think that the returns should have been released to the public. But as far as the audit not being law, the IRM is treated as law within the IRS. These are the procedures that the IRS follows for everything when writing requirements. But this is HROT and if Biden was the first one to suddenly not be audited, TJ and Finance would be calling for some heads to roll and Joe would be out here saying 'Well, it's not a law'.

 

[Hoosierhawkeye]

okay then if you have nothing to hide, please post your tax returns on HROT

I am not nor have I ever been a presidential candidate.

 

[TheonGreyJoy]

Don’t release his taxes!!!!!!!!!!!!!!!! It hurts My lover Donalds feelings! Just because he used our money to bail him out of debts doesn’t mean anything, he is the greatest person of all time! Anything for you Donald, someone I will never meet, let me have your little meat Donald! I’ll blow you hard orange man! You are the greatest and I want to show you how grateful I am too breath the same air as you!!!!!!

 

[dandh]

I predict his support will drop from 30% to…30%.

Nailed it. It doesn't change anything for the hardliners on either side, imo. And in the long run, I think the Democrats did more damage to their own reputation than Trump's reputation with this move.

 

[TJ8869]

Treasury had the returns and sat on them. Everyone else had to fight despite a very clearly written law.

They had to fight, but ultimately they had them. And then immediately released them to the public.

I’m still waiting for someone - anyone - to provide a reasonable explanation for why making them public was an integral part of evaluating the presidential audit process.

If the Treasury Department was understaffed and unable to deal with the extraordinarily complex and lengthy returns then what is Sally Housecoat supposed to do with them? If the Democrats are set to lose their majority in the House then is Joe Meatball supposed to pick up the baton and run with it? If the Senate Finance Committee and the US Congress Joint Committee on Taxation can’t process thousands of pages of returns and draft new legislation then what is Eddie Punchclock supposed to accomplish?

 

[franklinman]

Nailed it. It doesn't change anything for the hardliners on either side, imo. And in the long run, I think the Democrats did more damage to their own reputation than Trump's reputation with this move.

IMPOSSIBLE, corrupt filthy Dons reputation was in the bottomless pit before this was done.

 

[Joes Place]

My singular objection here is that they almost immediately released the returns to the public

They had (literally) days to decide what to do, before McCarthy and Greene and the gang disposed of them for at least 2 more years.

Again: Had Trump simply allowed proper protocols to be followed (audits, records going to Congress as they were intended - following Tea Pot Dome), then releasing them immediately would have been improper.

After all those delays AND with him gunning to run again, I have no issue with the public seeing them BEFORE the 2024 elections. Releasing them is the ONLY way that happens.

 

[Joes Place]

This is why his returns should be public record.

Next thing you know....MTG and the gang will release Biden's taxes!!! THE HORROR!!!!

 

[dandh]

IMPOSSIBLE, corrupt filthy Dons reputation was in the bottomless pit before this was done.

Way to make my point for me.

 

[BioHawk]

I haven't read this whole thread, but I've read enough to be amazed at the people who are more concerned about tax returns being released than the fact that Trump lied to them about almost every single thing he ever said. Why do they keep defending that guy?

 

[Joes Place]

I haven't read this whole thread, but I've read enough to be amazed at the people who are more concerned about tax returns being released than the fact that Trump lied to them about almost every single thing he ever said. Why do they keep defending that guy?

They like supporting someone who steals from a children's cancer charity...

 

[ThorneStockton]

People tend to completely lose their minds when they have children and whiskey was already starting out at a Dale Gribble level of reality

Yeah but are you familiar with his extreme masculinity?

 

[Huey Grey]

View embedded media

They like supporting someone who steals from a children's cancer charity...

Yet another example of why the public needs his returns.

 

[TJ8869]

They had (literally) days to decide what to do

At least try to be honest here. That decision was made a long time ago. If they had received his returns last March they would have released them to the public last March. This has been the plan since day one.

 

[joelbc1]

I’m on record numerous times stating that Senate Republicans should have given Garland hearings and a vote. And I’m also on record stating that anyone who voted for ACB after refusing to vote on Garland was a hypocrite.

Keep trying, dude.

Are you claiming to be. MAGAt/Republican with a moral compass, TJ? Good for you...

 

[TJ8869]

Are you claiming to be. MAGAt/Republican with a moral compass, TJ? Good for you...

I’ve never been a MAGAt, Joel. I hate Trump and always have. But wrong is wrong and what the Dems did in this case was wrong.

 

[BioHawk]

I’ve never been a MAGAt, Joel. I hate Trump and always have. But wrong is wrong and what the Dems did in this case was wrong.

The only thing that was wrong about this was these should have been released before he was elected in 2016. If you want your financial dealings to be private, don't run for President. We have a right to know about potential conflicts of interest our President might have.

 

[Huey Grey]

I've learned two brand new things from this release. Trump has bank accounts in China and he lied about donating his salary. Both are major red flags the public deserves to know.

 

[Joes Place]

At least try to be honest here. That decision was made a long time ago.

Sure, Jan.

If they'd have had them in 2019, they'd have reviewed them and issued a report by now.
Getting them with a couple weeks left before the MAGAs take over pretty much sealed the decision here.

 

[BGHAWK]

Plus Ireland, UK and St. Martin in addition to China. And trump accused Biden of being China's puppet. trump's MO, accuse his opponent of whatever he's doing.

 

[fsu1jreed]

This is interesting to me because for the life of me I don't recall any of my city councilors, state reps, congressional reps ever releasing their tax returns.

Do they deal with other government?

 

[ICWestfan]

Do they deal with other government?

Yes. City with county, state with cities, counties, and Fed. Congress with Exec.

 

[fsu1jreed]

Yes. City with county, state with cities, counties, and Fed. Congress with Exec.

Foreign governments

 

[TJ8869]

Sure, Jan.

If they'd have had them in 2019, they'd have reviewed them and issued a report by now.
Getting them with a couple weeks left before the MAGAs take over pretty much sealed the decision here.

Are MAGAs taking over the Senate Finance Committee? Are MAGAs taking over the Joint Committee on Taxation? Are MAGAs taking over the Treasury Department?

The notion that the Ways and Means Committee was backed into a corner and left with no other choice is pure, unadulterated bullshit and you know it. Everyone with at least 5 functioning brain cells knew the Dems were going to release the returns to the general public as soon as they could get their hands on them, whether it was in 2022 or 2019.

And what exactly does releasing them to the public accomplish toward the stated objective of codifying the presidential audit process into law?

 

[ICWestfan]

Foreign governments

Is that a question? Yes. Iowa had a relationship with the Chinese govt. back when Branstad was governor. Not sure if they still do. Many states and cities have sister relationships with their foreign contemporaries.

 

[fsu1jreed]

Is that a question? Yes. Iowa had a relationship with the Chinese govt. back when Branstad was governor. Not sure if they still do. Many states and cities have sister relationships with their foreign contemporaries.

Then yes, their taxes should be released also

 

[lucas80]

Trump has never been in a good place legally as he is a crook and at some point he might actually get charged and convicted. But Team Blue has been saying it for seven years now. At some point saying the same thing over and over again has to get old.

He doesn’t have Bill Barr fronting for him anymore. He has Team Red supporting him, though. The US system is imperfect, and for someone as morally bankrupt as Trump it’s advantageous to flout the rules. His taxes are a perfect example. He blusters and dares, he openly breaks the law, and he threatens a protracted legal battle which Team Red is still paying for. But, it’s cumulative, and hubris is the downfall of many. And, eventually he’s going to be worth less and less to Team Red and they will cut him free, and will say as Donald did about many close associates, “I barely knew the guy”.

 

[lucas80]

They had to fight, but ultimately they had them. And then immediately released them to the public.

I’m still waiting for someone - anyone - to provide a reasonable explanation for why making them public was an integral part of evaluating the presidential audit process.

If the Treasury Department was understaffed and unable to deal with the extraordinarily complex and lengthy returns then what is Sally Housecoat supposed to do with them? If the Democrats are set to lose their majority in the House then is Joe Meatball supposed to pick up the baton and run with it? If the Senate Finance Committee and the US Congress Joint Committee on Taxation can’t process thousands of pages of returns and draft new legislation then what is Eddie Punchclock supposed to accomplish?

You answered your own question as to why? The system failed miserably, and the people have a right to know that. But, by all means keep typing a Leon Uris level of words not defending Orange Jesus in any way.

 

[Bulldogs1974]

Correct. I have absolutely no quarrel with the Ways and Means Committee accessing Trump’s returns for the purpose of evaluating why that didn’t happen and how they can ensure that it does happen going forward. That’s a perfectly valid process.

My singular objection here is that they almost immediately released the returns to the public (and fully intended to do so all along if given the chance), which does absolutely nothing to address their stated purpose.

Merrick garland.

 

[TJ8869]

Merrick garland.

?

 

[sabula]

?

Referenced earlier, or in another thread maybe. Basically the recipient of horrible despicable revengeful spiteful Republican politics. Plus any other negative I did not think of 😏

 

[TJ8869]

Referenced earlier, or in another thread maybe. Basically the recipient of horrible despicable revengeful spiteful Republican politics. Plus any other negative I did not think of 😏

Also completely irrelevant to the post to which he was responding. Republicans should have given Garland hearings and a vote. But they didn't break any laws by not doing so. But it sure seems like Democrats did by releasing Trump's returns.

"No officer or employee of the United States shall disclose any return or return information obtained by him in any manner in connection with his service as such an officer or an employee or otherwise or under the provisions of this section."

 

[lucas80]

Also completely irrelevant to the post to which he was responding. Republicans should have given Garland hearings and a vote. But they didn't break any laws by not doing so. But it sure seems like Democrats did by releasing Trump's returns.

"No officer or employee of the United States shall disclose any return or return information obtained by him in any manner in connection with his service as such an officer or an employee or otherwise or under the provisions of this section."

GO TEAM RED!!!

 

[CarolinaHawkeye]

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.

If one could go to jail for stupidity, you'd have a life sentence.

 

[CarolinaHawkeye]

Like when Adam Schiff said he personally saw direct and irrefutable evidence that Trump collided with Russia?

Don't kid yourself.

A huge collision.

 

[TJ8869]

GO TEAM RED!!!

Lol. Posting a link to federal law apparently is "Team Red".

 

[Pete Malloy]

Nobody with a fully functioning brain cares about anyone’s tax returns but their own. Congress has wasted so much time on this fruitless vendetta.

 

[globalhawk]

Nobody with a fully functioning brain cares about anyone’s tax returns but their own. Congress has wasted so much time on this fruitless vendetta.

Do you wear velcro shoes?