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Trump's tax returns

Bob001 said:
One reason why the IRS might not be able to close that audit:

https://www.propublica.org/article/...nal-revenue-service-global-high-wealth-audits
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Keep in mind, nobody knows the tax code. Some people have a subject matter expertise, say in collection procedure, but as a whole? It's a mess. Gets worse every year. Actually twice a year.

It could stand a total rewrite. But that will never happen. Too many special interests. Not only big money, but things like child tax credit and the EITC. Can't say when it happened, but the tax code went from revenue creation to social engineering. But that is a rant for another day.
 
The Great Zaganza said:
Ignore him.
Don't report anything coming directly from Trump.
Cancel his social media accounts.
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That won't work unless everyone does that - which requires his allies to cooperate with us.

I think mockery does hurt him. The trouble is that his base likes him being a strong bully.
 
Leftus said:
.....
It could stand a total rewrite. But that will never happen. Too many special interests. Not only big money, but things like child tax credit and the EITC. Can't say when it happened, but the tax code went from revenue creation to social engineering. But that is a rant for another day.
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The tax code has always leaned toward what you call "social engineering." Capital gains breaks, deductions for business losses, farm subsidies, mortgage interest deductions etc. are all intended to benefit "approved" groups. It's only things like the child tax credit and the EITC -- which deliver benefits efficiently to some of the poorest Americans while creating incentives for them to hold jobs -- that somehow are "social engineering." The richest people in America are the fattest welfare recipients.
 
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Leftus said:
Keep in mind, nobody knows the tax code. Some people have a subject matter expertise, say in collection procedure, but as a whole? It's a mess. Gets worse every year. Actually twice a year.

It could stand a total rewrite. But that will never happen. Too many special interests. Not only big money, but things like child tax credit and the EITC. Can't say when it happened, but the tax code went from revenue creation to social engineering. But that is a rant for another day.
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Bob001 said:
The tax code has always leaned toward what you call "social engineering." Capital gains breaks, deductions for business losses, farm subsidies, mortgage interest deductions etc. are all intended to benefit "approved" groups. It's only things like the child tax credit and the EITC -- which deliver benefits efficiently to some of the poorest Americans while creating incentives for them to hold jobs -- that somehow are "social engineering." The richest people in America are the fattest welfare recipients.
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Bob is right. And actually, the tax code is constantly being rewritten. How does Leftus think the rich in this country pay so little in taxes? The top marginal tax rate under Eisenhower was 90 percent. Its less than half of that. And certain groups pay far less. I give you Trump. Pick just about any part of the code, it has undergone almost constant change.
 
The Don said:
Yes, I think it's likely that it is IF this is tax avoidance and isn't a true reflection of the success of the Trump businesses.



It could, but it seems that too many Americans don't consider themselves poor but instead think of themselves as temporarily inconvenienced millionaires and so they want those loopholes in place for when they get their true deserts. :rolleyes:
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Little do they know they'll be out in the desert when they do get their just dessert.
 
SuburbanTurkey said:
Beefing up the IRS and going after rich tax cheats isn't some moonshot commie hypothetical. If there's actually a goal besides screeching "Orange man bad", a systematic approach to wealthy tax evasion is very much in reach.

Hell, pass it through the house and have McConnell block it, or have Trump veto it. It's a political lay up. Do it right now before the election and watch the Republicans lockstep to defend the elites that don't pay their taxes.
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You seem to be under the delusion that the Dems are not very much in bed with the wealthy.
 
SezMe said:
You seem to be under the delusion that the Dems are not very much in bed with the wealthy.
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Less so than the Repubs. There are socially responsible wealthy people, and Dems generally think government is obligated to serve everybody.
 
To anyone that is interested..

The "Legal Eagle" has recently posted a video where he discusses Trump's taxes. If you are unfamiliar, the Legal Eagle is a practicing lawyer who runs a youtube channel where he posts videos where he discusses things like pop culture (such as the accuracy of courtroom scenes in movies) or current events (such as the constitutionality of Trump trying to be president for more than 3 terms).

There doesn't seem to be anything that he covers about Trump's tax situation and potential legal problems that weren't discussed here or in other forums, but he does go a bit deeper into some of the legal aspects, and it is good to get an expert opinion on some of this stuff.

 
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Skeptic Ginger said:
What makes you think they haven't finished the audit and Trump is fighting the result?
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The negotiations, compromises and appeals are part of the audit process, especially for a return as complicated as Trump's. It's not over until the taxpayer and IRS agree about what he's supposed to pay.
 
Bob001 said:
The negotiations, compromises and appeals are part of the audit process, especially for a return as complicated as Trump's. It's not over until the taxpayer and IRS agree about what he's supposed to pay.
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Semantic nonsense. No offense.
 
Bob001 said:
What makes you think they haven't finished the audit and Trump is fighting the result?
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The negotiations, compromises and appeals are part of the audit process, especially for a return as complicated as Trump's. It's not over until the taxpayer and IRS agree about what he's supposed to pay.
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According to Legal Eagle (referenced previously), the problem is Trump had a multi-million dollar refund that is likely the source of the audit. The problem is, refunds of that size often end up involving congress.

(It should also be noted that a whistlblower indicated that there was an attempt to put political pressure on auditors over either Trump's or Pence's audits, which might add to the delays.)
 
Segnosaur said:
According to Legal Eagle (referenced previously), the problem is Trump had a multi-million dollar refund that is likely the source of the audit. The problem is, refunds of that size often end up involving congress.
(It should also be noted that a whistlblower indicated that there was an attempt to put political pressure on auditors over either Trump's or Pence's audits, which might add to the delays.)
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:confused: Why?
 
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