It's supposed to be a federal crime to publish tax returns that were not obtained legitimately. Of course, we know now that such rules are only for republicans and little people, not the grandees of the democrat party or their house organs like the NYT and WashPost.
Bombshell report on Trump taxes sends GOP nominee reeling
- Thread starter Tony Stark
- Start date
The New York Times risked legal trouble to publish Donald Trump’s tax return
Dean Baquet wasn't bluffing.
The New York Times executive editor said during a visit to Harvard in September that he would risk jail to publish Donald Trump's tax returns. He made good on his word Saturday night when the Times published Trump tax documents from 1995, which show the Republican presidential nominee claimed losses of $916 million that year — enough to avoid paying federal income taxes for as many as 18 years afterward.
Federal law makes it illegal to publish an unauthorized tax return:
Baquet said during a panel discussion at Harvard that if the Times' lawyers advised him not to publish Trump tax returns, he would argue that such information is vital to the public interest because the real estate mogul's "whole campaign is built on his success as a businessman and his wealth."
https://www.washingtonpost.com/news...-trouble-to-publish-donald-trumps-tax-return/
Dean Baquet wasn't bluffing.
The New York Times executive editor said during a visit to Harvard in September that he would risk jail to publish Donald Trump's tax returns. He made good on his word Saturday night when the Times published Trump tax documents from 1995, which show the Republican presidential nominee claimed losses of $916 million that year — enough to avoid paying federal income taxes for as many as 18 years afterward.
Federal law makes it illegal to publish an unauthorized tax return:
It shall be unlawful for any person to whom any return or return information (as defined in section 6103(b)) is disclosed in a manner unauthorized by this title thereafter willfully to print or publish in any manner not provided by law any such return or return information. Any violation of this paragraph shall be a felony punishable by a fine in any amount not exceeding $5,000, or imprisonment of not more than 5 years, or both, together with the costs of prosecution.
Baquet said during a panel discussion at Harvard that if the Times' lawyers advised him not to publish Trump tax returns, he would argue that such information is vital to the public interest because the real estate mogul's "whole campaign is built on his success as a businessman and his wealth."
https://www.washingtonpost.com/news...-trouble-to-publish-donald-trumps-tax-return/
The editor was aware of that and was willing to take his chances.
Should he need defense, I will help "pay his legal fees".
The Real Scandal Of Trump Paying No Taxes
According to the New York Times, Donald Trump declared a $916 million loss on his 1995 tax returns — which could have allowed him to legally avoid paying any federal income taxes for 18 years.
The loss stemmed from Trump’s investments in the early 1990s.
Ordinary investors in Trump’s business empire saw the value of their shares plunge to 17 cents from $35.50, bondholders got pennies on the dollar, and scores of contractors went unpaid.
But Trump got a bonanza because the tax code allows “net operating losses” to cancel out taxable income in future years. And the bankruptcy code allows wealthy people to stiff the people they owe by reorganizing their debts under Chapter 11.
Trump didn’t do anything illegal. Real estate losses are notoriously easy to create. Trump bought buildings with borrowed money. He could then deduct interest paid on that debt. On top of that, he could take depreciation deductions, even when his real estate was appreciating in value.
Presto! Trump claimed almost a billion dollars of losses that would cancel his gigantic income gains for years to come.
Bankruptcy is also easy to utilize, if you’re wealthy enough to find a good bankruptcy lawyer who can use the bankruptcy code repeatedly to shelter your fortune and avoid paying your debts. Trump has used bankruptcy to stiff his creditors at least four times.
The real scandal here is that Trump and other hugely wealthy people can get away with this, and do so all the time. It’s just another way the system has been rigged — by rich people who buy off politicians to alter tax, bankruptcy, and other laws and regulations to their advantage, just like Donald Trump has done.
“As a businessman and a very substantial donor to very important people, when you give, they do whatever the hell you want them to do,” Trump told The Wall Street Journal in July 2015. “As a businessman, I need that.”
Trump isn’t and was never a smart businessman. He was and is smart at gaming the system. There’s a difference.
Trump kicks the shit out of the IRS. Just imagine the kick ass trade deals he'll negotiate .
Supposedly we already have trade deals like his tax deals: they benefit the rich at the expense of everyone else.
The more "rich people" we have, the more they invest, the more jobs they create! How else does it work...only the government creates jobs? Why are you so scared of the wealthy? Just become one of "them" and then give a lot away to charity and quit worrying about other rich people...set an example for rich people. Ready...go...
About every 10 days the MSM screams that Trumps candidacy is over and declares Hillary Clinton the winner.
Shortly afterward some more damning information about the rank corruption Hillary Clinton has promulgated through her foundation or some other information about her security violations comes to light and the entire country is reminded that Hillary Clinton is a corrupt and incompetent political hack and completely unqualified to serve as the executive.
If the country actually elects Hillary Clinton it will get what it deserves just as it is now reaping the rewards of electing Barrack Obama... twice. Elections have consequences. My sense is that there will be some folks who simply aren't going to accept any more liberal leadership at the national level with all that implies.
Shortly afterward some more damning information about the rank corruption Hillary Clinton has promulgated through her foundation or some other information about her security violations comes to light and the entire country is reminded that Hillary Clinton is a corrupt and incompetent political hack and completely unqualified to serve as the executive.
If the country actually elects Hillary Clinton it will get what it deserves just as it is now reaping the rewards of electing Barrack Obama... twice. Elections have consequences. My sense is that there will be some folks who simply aren't going to accept any more liberal leadership at the national level with all that implies.