Trump MAGAthread II: Donald and Mike go to the White House

[Novus America]

Well sure, some people write stupid shit on theirs and the IRS does not audit or check everyone's. But Trump does not fill out his own tax returns, his lawyers and accountants do, and moreover he tax returns have been audited.

Ones that prominent do not just get passed through and dumped in a warehouse.

And if they had evidence of illegal behavior the IRS would have charged them. You (or your lawyer, CPA etc.) put on your tax returns what you want the government to know.

The are not secret diaries with your deepest darkest secrets. They are you telling the government about your finances.

Yes, but tax return secrecy is protected by law. IRS can't simply "turn over", unrequested, the prostitute's or blackmailer's return to local law enforcement.

That's illegal.

https://www.law.cornell.edu/uscode/text/26/6103

You are right, however, that Trump's lawyers wouldn't write "blackmail" on the return.

True, they are protected which is why we do not have acces to them. But they are not completely protected either, a court can demand you release them to an opposing party at times as well.
http://scholarship.law.duke.edu/cgi/vie ... ontext=dlj

Sure tax law is complicated. But like you said his lawyers would not put something like that on his tax returns anyways.

[Rio Cana]

And in true politician fashion, he was careful not to directly answer the tough ones... like whether his campaign colluded with Russian officials.

Say, remember when one of his main selling points was that he wasn't a politician and told it like it is?

He refused to answer a CNN question and called CNN "fake news."

Questions hurt Trump's fee-fees. He needs his safe space.

HGTV has more viewers then CNN.

[Hurdergaryp]

Seems not many here have mentioned the most important part of his speech which could be bad for consumers. That import tax (he called it a border tax). So on what items are they going to place an import tax on.

Pretty much the majority of non-food products currently sold by Walmart and other large chain stores, if I had to guess. Most of that stuff has been manufactured in China, after all.

[Hittanryan]

Seems not many here have mentioned the most important part of his speech which could be bad for consumers. That import tax (he called it a border tax). So on what items are they going to place an import tax on.

"Import tax." What, is "tariff" too fancy a word for him?

Now we get to all pay an arbitrary percentage more on consumer goods while our incomes stay the same. Yay!

[Novus America]

Well sure, some people write stupid shit on theirs and the IRS does not audit or check everyone's. But Trump does not fill out his own tax returns, his lawyers and accountants do, and moreover his tax returns have been audited.

Ones that prominent do not just get passed through and dumped in a warehouse.

And if they had evidence of illegal behavior the IRS would have charged them. You (or your lawyer, CPA etc.) put on your tax returns what you want the government to know.

The are not secret diaries with your deepest darkest secrets. They are you telling the government about your finances.

Yes, and having Trump's version of what he wants the government to know might be enlightening in some ways. It is as much his thumbing his nose at the tradition of releasing at least some tax return information as the information itself that keeps people on this. Mitt Romney was reluctant to release anything, too, but eventually did.

I do believe he should release them. That he was wrong not to. And they could contain interesting information.

Just not regarding Russian spying.

[Valrifell]

Seems not many here have mentioned the most important part of his speech which could be bad for consumers. That import tax (he called it a border tax). So on what items are they going to place an import tax on.

"Import tax." What, is "tariff" too fancy a word for him?

Now we get to all pay an arbitrary percentage more on consumer goods while our incomes stay the same. Yay!

Hooray for disproportionately harming consumers, especially the poor?

[Farnhamia]

Yes, and having Trump's version of what he wants the government to know might be enlightening in some ways. It is as much his thumbing his nose at the tradition of releasing at least some tax return information as the information itself that keeps people on this. Mitt Romney was reluctant to release anything, too, but eventually did.

I do believe he should release them. That he was wrong not to. And they could contain interesting information.

Just not regarding Russian spying.

Oh, no, not that. That's ridiculous. Sources of his income would be interesting, the amount he claims as taxable income.

[Galloism]

Yes, and having Trump's version of what he wants the government to know might be enlightening in some ways. It is as much his thumbing his nose at the tradition of releasing at least some tax return information as the information itself that keeps people on this. Mitt Romney was reluctant to release anything, too, but eventually did.

I do believe he should release them. That he was wrong not to. And they could contain interesting information.

Just not regarding Russian spying.

No, not regarding that.

What would be interesting to release is all that K-1 information. Most of Trump's businesses (as I understand), are organized as LLCs that are treated as partnerships for US tax law purposes, and we're not exactly sure what he owns where in a lot of cases.

Since all those K-1s are individually listed (on schedule E page 2, and, no doubt, a supplemental statement) we would be able to see what he owns where. Then we could do investigations into THOSE entities to see what they are up to.

[Farnhamia]

I do believe he should release them. That he was wrong not to. And they could contain interesting information.

Just not regarding Russian spying.

No, not regarding that.

What would be interesting to release is all that K-1 information. Most of Trump's businesses (as I understand), are organized as LLCs that are treated as partnerships for US tax law purposes, and we're not exactly sure what he owns where in a lot of cases.

Since all those K-1s are individually listed (on schedule E page 2, and, no doubt, a supplemental statement) we would be able to see what he owns where. Then we could do investigations into THOSE entities to see what they are up to.

I bet we find he invested in that failed land deal, what was it called, Wet Water? No, no, white something or other ...

[Novus America]

Seems not many here have mentioned the most important part of his speech which could be bad for consumers. That import tax (he called it a border tax). So on what items are they going to place an import tax on.

"Import tax." What, is "tariff" too fancy a word for him?

Now we get to all pay an arbitrary percentage more on consumer goods while our incomes stay the same. Yay!

Your income might not stay the same. And at very least it stems slow death by trade deficit.
Deficits are not sustainable.
Every time you have a trade deficit somoeone has to borrow and pay for it eventually. Sure many people would rather kick the can down the road road. If my IPhone bankrupts the country after I am dead who cares right? I am dead. Screw future generations. I want "cheap" now. Have someone else pay for it later. Oh and about indirect costs and externalities. I pay them but I pretend not too. And pretend is what matters.

But personally I would say tarriff. Tax is a taboo word in politics.

[Novus America]

I do believe he should release them. That he was wrong not to. And they could contain interesting information.

Just not regarding Russian spying.

Oh, no, not that. That's ridiculous. Sources of his income would be interesting, the amount he claims as taxable income.

Sure. But the orginal poster I was replying to said the could prove things about Russian spying.

[Hittanryan]

"Import tax." What, is "tariff" too fancy a word for him?

Now we get to all pay an arbitrary percentage more on consumer goods while our incomes stay the same. Yay!

Your income might not stay the same. And at very least it stems slow death by trade deficit.
Deficits are not sustainable.
Every time you have a trade deficit somoeone has to borrow and pay for it eventually. Sure many people would rather kick the can down the road road. If my IPhone bankrupts the country after I am dead who cares right? I am dead. Screw future generations. I want "cheap" now. Have someone else pay for it later. Oh and about indirect costs and externalities. I pay them but I pretend not too. And pretend is what matters.

But personally I would say tarriff. Tax is a taboo word in politics.

If my income rises it will have nothing to do with Trump. I'm not going to be an investment banker. If I have to pay 12, 20, 35% more on basic consumer goods at WalMart, that will be Trump's fault.

Also I don't know if anyone has ever pointed this out to you: mercantilism is DEAD.

[Novus America]

"Import tax." What, is "tariff" too fancy a word for him?

Now we get to all pay an arbitrary percentage more on consumer goods while our incomes stay the same. Yay!

Hooray for disproportionately harming consumers, especially the poor?

Is hurting the future poor and forcing future generations to pay for our stuff good?
Those things are not cheap, the price you see on the sticker is not the price you or future generations actually pay.

[Ashmoria]

he could prove he isn't in thrall to the Russians by releasing his taxes.

when he doesn't do it I have to believe the buzzfeed report is largely true (given that they have already admitted that it isn't totally true)

Releasing his taxes would prove anything about unsupported allegegations of being blackmailed by Russia. Umm you do not put "blackmail" as a line item in your tax return...

Your obsession with his tax returns is odd. It does not have the information you want.

They would be good to verify his income. But verifying his income does not say anything about Russian spying.

I didn't say blackmail

but if he has hundreds of millions of dollars in loans from Russia that is a problem.

[Farnhamia]

Oh, no, not that. That's ridiculous. Sources of his income would be interesting, the amount he claims as taxable income.

Sure. But the orginal poster I was replying to said the could prove things about Russian spying.

Posters say the darnedest things. I know, believe me.

[Ashmoria]

Why is anyone listening to this dog and pony show? It's Trump. He'll just lie his ass off as always.

I'm surprised he even took questions.

he is the president elect.

too bad we have no reason to believe anything he says.

[Hurdergaryp]

Releasing his taxes would prove anything about unsupported allegegations of being blackmailed by Russia. Umm you do not put "blackmail" as a line item in your tax return...

Your obsession with his tax returns is odd. It does not have the information you want.

They would be good to verify his income. But verifying his income does not say anything about Russian spying.

I didn't say blackmail

but if he has hundreds of millions of dollars in loans from Russia that is a problem.

The real question is if Alaska should be gift-wrapped when it is returned to Russia.

[Rio Cana]

Found this article in which it seems they want a 10% tariff on imports but no one in the business community is for it. Politicians believe a comprehensive tax reform would do the same and not cause a trade war with other nations.

Article from fake news CNN - http://edition.cnn.com/2016/12/21/polit ... p-tariffs/

[Ashmoria]

geez Donald whats the PLAN for getting mexico to reimburse us for the wall? a mexico tax?

All taxes in the end are paid by consumers. Strange that they have not privatized the building and maintenance of the wall. A toll to cross the border could pay for it. There is a toll on some US-Canada international bridges.

This is what they were planning for California-Baja California border - http://www.latimes.com/local/california ... story.html

I wonder what the law is on that.

[Novus America]

Your income might not stay the same. And at very least it stems slow death by trade deficit.
Deficits are not sustainable.
Every time you have a trade deficit somoeone has to borrow and pay for it eventually. Sure many people would rather kick the can down the road road. If my IPhone bankrupts the country after I am dead who cares right? I am dead. Screw future generations. I want "cheap" now. Have someone else pay for it later. Oh and about indirect costs and externalities. I pay them but I pretend not too. And pretend is what matters.

But personally I would say tarriff. Tax is a taboo word in politics.

If my income rises it will have nothing to do with Trump. I'm not going to be an investment banker. If I have to pay 12, 20, 35% more on basic consumer goods at WalMart, that will be Trump's fault.

Also I don't know if anyone has ever pointed this out to you: mercantilism is DEAD.

If a Walmart worker can get a factory jobs instead his income goes up.

Tell Xi mercantilism is dead. And no, it is a simply fact you cannot get anything for free. If you buy 300 million worth of stuff and sell 100 million that 200 million has to come from somewhere.

Nothing in life is free.

[Hittanryan]

Hooray for disproportionately harming consumers, especially the poor?

Is hurting the future poor and forcing future generations to pay for our stuff good?
Those things are not cheap, the price you see on the sticker is not the price you or future generations actually pay.

So "fuck the present-day poor" eh?

[Camaalbakrius]

I didn't say blackmail

but if he has hundreds of millions of dollars in loans from Russia that is a problem.

The real question is if Alaska should be gift-wrapped when it is returned to Russia.

And if Sarah Palin goes with it

[Galloism]

Is hurting the future poor and forcing future generations to pay for our stuff good?
Those things are not cheap, the price you see on the sticker is not the price you or future generations actually pay.

So "fuck the present-day poor" eh?

Maybe Congress and Trump will sign into law an expansive welfare program to help offset the cost of the taxes for the poor.

[Farnhamia]

So "fuck the present-day poor" eh?

Maybe Congress and Trump will sign into law an expansive welfare program to help offset the cost of the taxes for the poor.

Well, I suppose ... whoa, I think a pig just flew past my window!

[Gauthier]

Trump bullshitting on his vows? Unexpected!

What would a truly ironic and hilarious turn of events is if Trump goes back on his vow to support the Second Amendment and starts going after his supporters' preshus.

He might - he's supported the idea that we should strip people of the right to have guns if they're on the no-fly list, and he's from New York which has a lot of gun laws and has never seemed to object to them before.

(The no-fly list is problematic for a lot of reasons, and expanding it is just expands its problems)

The rage from that day could provide clean energy.