They do? I admit, I haven’t been following along. Is this part of the Russia investigation? And, assuming they do have the right, do they have the right to publish them to the general public?
I’m not sure where I stand on this. Basically, I just don’t care that much about their tax returns (or Trump’s in this specific case), but it does seem to be important to many in this thread so I guess there is that. I don’t see why it’s important, personally, so it’s just a disconnect with me I guess. It’s a pretty recent custom in the US to do this…I seem to recall it’s only been a thing since I’ve been voting.
Yes, Congress (specifically the head of the House Ways and Means Committee, the head of the Senate Finance Committee, or the head of the Joint Committee on Taxation) has the right to order the Secretary of the Treasury (who oversees the IRS) to provide the tax returns of any taxpayer. This has been a law since the 1920s, and was put in place specifically because of a political scandal (Teapot Dome) involving the president; before that law was enacted, only the president had the power to compel the release of someone’s tax returns. Note that, apparently; the Secretary of the Treasury and the IRS have no wiggle room on this; there’s no provision for them to refuse such a request.
It appears that there is no provision that these returns must then remain confidential, though, IIRC, in the letter to the IRS which Richard Neal (head of Ways and Means) sent, he indicated that the returns, when received, would be kept confidential.
Ah, thanks. I didn’t actually make that connection. I was thinking this war part of the Russia investigation. I assume that, in the past, it was basically not something that Congress did very often, but that this time they feel there is a need to do so. Appreciate the answer.
If the tax returns do come out and become public I have a feeling it will show what he wants most to hide. Not collusion or illegal activity. I mean come on his accountants aren’t stupid enough to put illegal activity on his tax returns. It will show he’s not as rich as he says he is.
I’m not sure that it’s entirely unrelated to the Russia probe, though it appears that at least part of the impetus for the request may have been Michael Cohen’s testimony to the House Oversight Committee in February. Under questioning from Alexandria Ocasio-Cortez, Cohen testified that Trump undervalued assets in order to reduce tax liabilities.
Perhaps. But income from, say, various Russian entities are not in and of themselves illegal, and I should think the accountants would include them, however disguised they might be, simply to avoid tax evasion charges. They’re on the hook as well if they file a false return on Trump’s behalf. Such payments would be evidence of influence such entities may have on Trump’s decision making/collusion.
There is no need to invoke the law when the President voluntarily releases his tax returns to the public. Which every President since Nixon has done, except Trump.
Trump’s father had illegal stuff in his tax report, showing how he illegally gave his son funds. Nixon had stuff that was well enough hidden that it survived an initial audit by the IRS, but not a subsequent one.
Trump’s lawyers do not seem particularly good at hiding illegal activity, why not his accountants? He says he hires the best people, but he clearly doesn’t.
I do however think he also likely is not as rich as he claims to be. Otherwise his false confidence would lead him to show it, since he still thinks he’s above the law.
IMHO, i think that the returns themselves need to be kept confidential, sadly. However the Chair should release a precis /summary of what was on Trumps returns.
Not in the slightest. This is only about you in so much as I know you’re too smart and too well informed to be “in a bit of a puzzle” about this. Clearly my comment was entirely directed at a transparent rhetorical ploy, not at a person. Or, as Colibri aptly states,
This kind of contrivance is not exactly new around here, either.
Money plays such an outsized role in U.S. politics that revealing tax returns is one of the very few ways the public has of learning if a candidate’s/politician’s income is influencing his policy positions. This seems so basic as to make me wonder why this would ever be questioned.
It’s hard to argue against people’s perception. Due to your past posts, when I see your username I think ‘that’s the guy who pretends to not like Trump… but really does’. Not knocking it because I don’t really care just saying, to me, that’s how you come across.
If I thought of you as stupid I could write it off. But you’re clearly too smart to ask those questions in earnest.
Right…since Nixon. But that leaves many decades that this law was in where Congress didn’t use it. I think there needs to be some sort of reasonable reason for Congress TOO do this. In the case of Trump, I think that a case could be made if this is part of the Russia investigation or has to potential to demonstrate conflicts of interest that might exist wrt Trump the private CEOs business holdings or dealings and Trump, the US President.
Myself, I think Trump doesn’t want his tax returns released because I think it will show he doesn’t have nearly the amount of wealth he has claimed he does, and he doesn’t want that to be general knowledge. Hell, he might have a LOT less than what he’s claimed, and that would be embarrassing for him, so I expect him to fight it tooth and nail. But such a release might also show some conflict of interest stuff that I think Congress does need to know. I support this effort, now having thought it through and seen why it’s being done. I also now see why it can be important. So, ignorance fought.
Let me give you some homework: write down what you think I think and try to justify that from what I’ve actually written, not what biased individuals like Colibri above say about me. I’ve been through this once with another person.
You might start here and here and here and well, off you go.
Personally this American doesn’t feel like anyone should be forced to release their tax returns. Obviously it’s mostly political opponents looking for dirt, which is understandable, but everyone should be able to keep their finances private if they want. Just because it’s “tradition” doesn’t mean it’s a good tradition.
Having said that, if there is anything criminal going on with Trump’s finances, then by all means the appropriate agencies should prosecute him fully. But I don’t think you or I should have any right to view a president’s tax returns.
I’m a public employee, and each year I have to do a financial disclosure listing my bank accounts, retirement holdings, etc. Plus, my salary is a matter of public record. I just take it as part of normal life to have such information about me in the public. Sure, my tax returns are not public, but if they were, they would be only marginally more intrusive than what I’m subject to today.
I’m sure other Presidents have looked at this similar set of facts and determined that making tax returns public just isn’t that big a deal to them. Clearly, Trump wants to hide something. I’m guessing it is that he got a raise when he took the job as President.
We know you’re the guy who defends Trump, but then once every six weeks posts a thread stating that he’s not your cup of tea. I assure you, such fragility does not come across as principled – merely weak.