Toddsterpatriot
Diamond Member
Gift tax? Who is the **** that came up with that one?
Dems Demand 10 Years of Trump's Financials
- Thread starter georgephillip
- Start date
Gift tax? Who is the **** that came up with that one?
You are allowed to gift 15,000.00 per person per year tax free. Anything over that is taxed.
Death tax is anything over 11.18 million.
georgephillip
Diamond Member
- Thread starter
- #223
That should have cost Trump his casino license, but, once again, the rich are different when it comes to legal accountability:
Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father
"Fred Trump was relentless and creative in finding ways to channel this wealth to his children.
"He made Donald not just his salaried employee but also his property manager, landlord, banker and consultant.
"He gave him loan after loan, many never repaid.
"He provided money for his car, money for his employees, money to buy stocks, money for his first Manhattan offices and money to renovate those offices.
"He gave him three trust funds.
"He gave him shares in multiple partnerships.
"He gave him $10,000 Christmas checks.
"He gave him laundry revenue from his buildings.
"Much of his giving was structured to sidestep gift and inheritance taxes using methods tax experts described to The Times as improper or possibly illegal."
You let me know when he broke the law, okay? Until then.......pound some sand.
Marianne
Diamond Member
Yes but don't tell that to democrats, they think they are above the law. If you tell them they aren't going to get their own way, they will cry and whine again. I think Trumps getting tired of putting them in the time out chair. Seriously it's another excuse like you said to fish until they find an impeachable offense. The precedence the Democrats are setting is a ridiculous one. If this is allowed fly we can expect this crap to continue onto every future President. The democrats don't seem to care that he's duly elected, all they care about is their own interests. I fully expect Trumps lawyers to continue to tell the democrats to get lost all the way through 2024. God Bless him.Here's the problem with you theory.They can request all they want but if there's no legal basis for the demand Trump doesn't have to comply.You thought two career Republican hacks had just put an end to investigating the most corrupt POTUS in history?
Wrong Again, Cons.
Democrats request 10 years of Trump's finances from tax firm
"WASHINGTON – House Democrats are pushing to gain access to President Donald Trump's finances and asked a tax firm for documents stemming back 10 years.
"The request came from House Oversight Committee Chairman Elijah Cummings, D-Md., who asked for copies of Trump's financial documents stemming from 2009 to 2019 from tax firm Mazars USA.
"The request follows testimony from Trump's former attorney and fixer Michael Cohen, who alleged that the president had inflated and deflated his worth...."
"In his request, Cummings asked Mazars' CEO Victor Wahba for all financial documents relating to Trump's wealth that was in the firm's possession, any audits done, all communications with Trump and those representing him, along with internal communications related to any concerns over Trump's finances.
"More: 'I am not protecting Mr. Trump anymore.' Michael Cohen ties the president to ongoing criminal probes
"The company was noted in documents Cohen gave to the committee before his February appearance, where he offered Congress a damning portrait of his former boss, saying the president encouraged him to lie to Congress and the public for Trump's protection.
"During his appearance, Cohen cast Trump as a 'racist,' a 'con man' and a 'cheat.'"Since Trump has been convicted twice on civil charges of tax fraud and he refused to submit federal tax returns prior to becoming POTUS, the legal basis for current demands is obvious to all but Republicans who don't care about Trump's many conflicts of interest or how the affect US national interests.
Democrats request 10 years of Trump's finances from tax firm
"The request came from House Oversight Committee Chairman Elijah Cummings, D-Md., who asked for copies of Trump's financial documents stemming from 2009 to 2019 from tax firm Mazars USA. The request follows testimony from Trump's former attorney and fixer Michael Cohen, who alleged that the president had inflated and deflated his worth...."
"Earlier this month, Treasury Secretary Steven Mnuchin suggested he would protect Trump’s privacy if he receives a request from House Democrats for Trump’s tax returns.
"At a House Ways and Means Committee hearing, Mnuchin was asked whether he would meet a request for Trump’s past tax returns. Chairman Rep. Richard Neal, D-Mass., is expected to formally ask for those as Democrats seek to shed light on Trump’s financial dealings and potential conflicts of interest..."
"Neal is one of only three congressional officials authorized under a rarely used 1924 law to make a written request for anyone’s tax returns to the Treasury secretary. The law says the Treasury chief 'shall furnish' the requested material to members of the committee for them to examine behind closed doors. But Mnuchin did not specifically say he would turn them over."
1.You keep using the word request. This means Trump doesn't have too comply. If they could legally get Trumps records without his permission they'd have already done so. This means they do not have a legal basis under any circumstances to see his tax returns. They need Trump to give permission and he doesn't have too.
2.To use that "rarely used 1924 law" are you suggesting that the IRS isn't doing their job? That would mean that the IRS who's job it is to investigate such things, is also in need of investigation. If such a law exists that's why it's not used.
3. I do care, this is why I leave it to the IRS. It's the job of the IRS to investigate his finances not politicians. If something were amiss I would hope they'd find it and act accordingly. This is another witch hunt.
I made this post #4 in another thread about PROBABLE CAUSE, worth a look, here is a sample:
"Democrats appear to have NO probable cause to seize his tax returns, after all that is what the 4th Amendment is about, protecting against unreasonable searches. Since it is an obvious fishing expedition, the President can legally tell them to go away."
More in the link.
Marianne
Diamond Member
Here's the problem with you theory.They can request all they want but if there's no legal basis for the demand Trump doesn't have to comply.You thought two career Republican hacks had just put an end to investigating the most corrupt POTUS in history?
Wrong Again, Cons.
Democrats request 10 years of Trump's finances from tax firm
"WASHINGTON – House Democrats are pushing to gain access to President Donald Trump's finances and asked a tax firm for documents stemming back 10 years.
"The request came from House Oversight Committee Chairman Elijah Cummings, D-Md., who asked for copies of Trump's financial documents stemming from 2009 to 2019 from tax firm Mazars USA.
"The request follows testimony from Trump's former attorney and fixer Michael Cohen, who alleged that the president had inflated and deflated his worth...."
"In his request, Cummings asked Mazars' CEO Victor Wahba for all financial documents relating to Trump's wealth that was in the firm's possession, any audits done, all communications with Trump and those representing him, along with internal communications related to any concerns over Trump's finances.
"More: 'I am not protecting Mr. Trump anymore.' Michael Cohen ties the president to ongoing criminal probes
"The company was noted in documents Cohen gave to the committee before his February appearance, where he offered Congress a damning portrait of his former boss, saying the president encouraged him to lie to Congress and the public for Trump's protection.
"During his appearance, Cohen cast Trump as a 'racist,' a 'con man' and a 'cheat.'"Since Trump has been convicted twice on civil charges of tax fraud and he refused to submit federal tax returns prior to becoming POTUS, the legal basis for current demands is obvious to all but Republicans who don't care about Trump's many conflicts of interest or how the affect US national interests.
Democrats request 10 years of Trump's finances from tax firm
"The request came from House Oversight Committee Chairman Elijah Cummings, D-Md., who asked for copies of Trump's financial documents stemming from 2009 to 2019 from tax firm Mazars USA. The request follows testimony from Trump's former attorney and fixer Michael Cohen, who alleged that the president had inflated and deflated his worth...."
"Earlier this month, Treasury Secretary Steven Mnuchin suggested he would protect Trump’s privacy if he receives a request from House Democrats for Trump’s tax returns.
"At a House Ways and Means Committee hearing, Mnuchin was asked whether he would meet a request for Trump’s past tax returns. Chairman Rep. Richard Neal, D-Mass., is expected to formally ask for those as Democrats seek to shed light on Trump’s financial dealings and potential conflicts of interest..."
"Neal is one of only three congressional officials authorized under a rarely used 1924 law to make a written request for anyone’s tax returns to the Treasury secretary. The law says the Treasury chief 'shall furnish' the requested material to members of the committee for them to examine behind closed doors. But Mnuchin did not specifically say he would turn them over."
1.You keep using the word request. This means Trump doesn't have too comply. If they could legally get Trumps records without his permission they'd have already done so. This means they do not have a legal basis under any circumstances to see his tax returns. They need Trump to give permission and he doesn't have too.
2.To use that "rarely used 1924 law" are you suggesting that the IRS isn't doing their job? That would mean that the IRS who's job it is to investigate such things, is also in need of investigation. If such a law exists that's why it's not used.
3. I do care, this is why I leave it to the IRS. It's the job of the IRS to investigate his finances not politicians. If something were amiss I would hope they'd find it and act accordingly. This is another witch hunt.
I made this post #4 in another thread about PROBABLE CAUSE, worth a look, here is a sample:
"Democrats appear to have NO probable cause to seize his tax returns, after all that is what the 4th Amendment is about, protecting against unreasonable searches. Since it is an obvious fishing expedition, the President can legally tell them to go away."
More in the link.Trump is reasonably suspected of laundering money for Russian oligarchs linked to the Russian government; that alone is enough to demand his tax returns.
Congress wants to reveal Donald Trump's tax returns - CNNPolitics
"Neal, the only Democrat on Capitol Hill with the power to take such action, is using a little-known IRS code in requesting six years of Trump's personal returns and also wants records from eight of the President's business entities.
"His request is narrowly targeted and rooted in a legal technicality.
"But supporters of the drive to get clarity on Trump's taxes argue that it is vital for Congress to establish whether Trump has any conflicts of interest that bear on his official duties and to see whether he is getting payments from foreign states in violation of the emoluments clause of the Constitution."
Sunsettommy is right.
If he was "reasonably suspected" there would have to be evidence. If there were evidence they would seize his tax returns with no problem by way of court. This hasn't happened which means that no judge has seen enough evidence to sign off on it. This means that He is not "reasonably suspected" and this is another democratic witch hunt. The law is thus far doing it's job protecting Trump because here in the USA you don't get to have searches just because you don't like somebody. This is one of the reasons we had the revolution and one of the reasons the founding fathers wrote it into law.
Marianne
Diamond Member
You can spit our U.S. codes all you want but I'm guessing there has to be some type of evidence in order to invoke such codes. Because democrats haven't been able to get his taxes means they have not met the necessary criteria for demanding it. This is why they keep asking and he not been forced to comply. He may be the President and a public servant, but he still has rights.
georgephillip
Diamond Member
- Thread starter
- #228
Here's the problem with you theory.Since Trump has been convicted twice on civil charges of tax fraud and he refused to submit federal tax returns prior to becoming POTUS, the legal basis for current demands is obvious to all but Republicans who don't care about Trump's many conflicts of interest or how the affect US national interests.
Democrats request 10 years of Trump's finances from tax firm
"The request came from House Oversight Committee Chairman Elijah Cummings, D-Md., who asked for copies of Trump's financial documents stemming from 2009 to 2019 from tax firm Mazars USA. The request follows testimony from Trump's former attorney and fixer Michael Cohen, who alleged that the president had inflated and deflated his worth...."
"Earlier this month, Treasury Secretary Steven Mnuchin suggested he would protect Trump’s privacy if he receives a request from House Democrats for Trump’s tax returns.
"At a House Ways and Means Committee hearing, Mnuchin was asked whether he would meet a request for Trump’s past tax returns. Chairman Rep. Richard Neal, D-Mass., is expected to formally ask for those as Democrats seek to shed light on Trump’s financial dealings and potential conflicts of interest..."
"Neal is one of only three congressional officials authorized under a rarely used 1924 law to make a written request for anyone’s tax returns to the Treasury secretary. The law says the Treasury chief 'shall furnish' the requested material to members of the committee for them to examine behind closed doors. But Mnuchin did not specifically say he would turn them over."
1.You keep using the word request. This means Trump doesn't have too comply. If they could legally get Trumps records without his permission they'd have already done so. This means they do not have a legal basis under any circumstances to see his tax returns. They need Trump to give permission and he doesn't have too.
2.To use that "rarely used 1924 law" are you suggesting that the IRS isn't doing their job? That would mean that the IRS who's job it is to investigate such things, is also in need of investigation. If such a law exists that's why it's not used.
3. I do care, this is why I leave it to the IRS. It's the job of the IRS to investigate his finances not politicians. If something were amiss I would hope they'd find it and act accordingly. This is another witch hunt.
I made this post #4 in another thread about PROBABLE CAUSE, worth a look, here is a sample:
"Democrats appear to have NO probable cause to seize his tax returns, after all that is what the 4th Amendment is about, protecting against unreasonable searches. Since it is an obvious fishing expedition, the President can legally tell them to go away."
More in the link.Trump is reasonably suspected of laundering money for Russian oligarchs linked to the Russian government; that alone is enough to demand his tax returns.
Congress wants to reveal Donald Trump's tax returns - CNNPolitics
"Neal, the only Democrat on Capitol Hill with the power to take such action, is using a little-known IRS code in requesting six years of Trump's personal returns and also wants records from eight of the President's business entities.
"His request is narrowly targeted and rooted in a legal technicality.
"But supporters of the drive to get clarity on Trump's taxes argue that it is vital for Congress to establish whether Trump has any conflicts of interest that bear on his official duties and to see whether he is getting payments from foreign states in violation of the emoluments clause of the Constitution."
Sunsettommy is right.
If he was "reasonably suspected" there would have to be evidence. If there were evidence they would seize his tax returns with no problem by way of court. This hasn't happened which means that no judge has seen enough evidence to sign off on it. This means that He is not "reasonably suspected" and this is another democratic witch hunt. The law is thus far doing it's job protecting Trump because here in the USA you don't get to have searches just because you don't like somebody. This is one of the reasons we had the revolution and one of the reasons the founding fathers wrote it into law.
There's no shortage of evidence for Trump's tax dodging, including a pair of civil convictions for failure to pay income tax, and the infamous "empty box" scam in which he cheated New York state out of thousands of dollars in sales tax. As much as you cons object, it won't change the fact Donald Trump is NOT above the law.
Congress wants to reveal Donald Trump's tax returns - CNNPolitics
"Neal's gambit now puts Charles Rettig, the current IRS commissioner, who was nominated by Trump and confirmed by the Senate, in a delicate political position.
"It is all but certain that the administration will take steps to challenge the Democratic interpretation of the law on which the request is based.
"Such a scenario could see the Ways and Means committee issue a subpoena after Neal's April 10 deadline and the unleashing of a complicated legal duel."
Yes but don't tell that to democrats, they think they are above the law. If you tell them they aren't going to get their own way, they will cry and whine again. I think Trumps getting tired of putting them in the time out chair. Seriously it's another excuse like you said to fish until they find an impeachable offense. The precedence the Democrats are setting is a ridiculous one. If this is allowed fly we can expect this crap to continue onto every future President. The democrats don't seem to care that he's duly elected, all they care about is their own interests. I fully expect Trumps lawyers to continue to tell the democrats to get lost all the way through 2024. God Bless him.Here's the problem with you theory.They can request all they want but if there's no legal basis for the demand Trump doesn't have to comply.You thought two career Republican hacks had just put an end to investigating the most corrupt POTUS in history?
Wrong Again, Cons.
Democrats request 10 years of Trump's finances from tax firm
"WASHINGTON – House Democrats are pushing to gain access to President Donald Trump's finances and asked a tax firm for documents stemming back 10 years.
"The request came from House Oversight Committee Chairman Elijah Cummings, D-Md., who asked for copies of Trump's financial documents stemming from 2009 to 2019 from tax firm Mazars USA.
"The request follows testimony from Trump's former attorney and fixer Michael Cohen, who alleged that the president had inflated and deflated his worth...."
"In his request, Cummings asked Mazars' CEO Victor Wahba for all financial documents relating to Trump's wealth that was in the firm's possession, any audits done, all communications with Trump and those representing him, along with internal communications related to any concerns over Trump's finances.
"More: 'I am not protecting Mr. Trump anymore.' Michael Cohen ties the president to ongoing criminal probes
"The company was noted in documents Cohen gave to the committee before his February appearance, where he offered Congress a damning portrait of his former boss, saying the president encouraged him to lie to Congress and the public for Trump's protection.
"During his appearance, Cohen cast Trump as a 'racist,' a 'con man' and a 'cheat.'"Since Trump has been convicted twice on civil charges of tax fraud and he refused to submit federal tax returns prior to becoming POTUS, the legal basis for current demands is obvious to all but Republicans who don't care about Trump's many conflicts of interest or how the affect US national interests.
Democrats request 10 years of Trump's finances from tax firm
"The request came from House Oversight Committee Chairman Elijah Cummings, D-Md., who asked for copies of Trump's financial documents stemming from 2009 to 2019 from tax firm Mazars USA. The request follows testimony from Trump's former attorney and fixer Michael Cohen, who alleged that the president had inflated and deflated his worth...."
"Earlier this month, Treasury Secretary Steven Mnuchin suggested he would protect Trump’s privacy if he receives a request from House Democrats for Trump’s tax returns.
"At a House Ways and Means Committee hearing, Mnuchin was asked whether he would meet a request for Trump’s past tax returns. Chairman Rep. Richard Neal, D-Mass., is expected to formally ask for those as Democrats seek to shed light on Trump’s financial dealings and potential conflicts of interest..."
"Neal is one of only three congressional officials authorized under a rarely used 1924 law to make a written request for anyone’s tax returns to the Treasury secretary. The law says the Treasury chief 'shall furnish' the requested material to members of the committee for them to examine behind closed doors. But Mnuchin did not specifically say he would turn them over."
1.You keep using the word request. This means Trump doesn't have too comply. If they could legally get Trumps records without his permission they'd have already done so. This means they do not have a legal basis under any circumstances to see his tax returns. They need Trump to give permission and he doesn't have too.
2.To use that "rarely used 1924 law" are you suggesting that the IRS isn't doing their job? That would mean that the IRS who's job it is to investigate such things, is also in need of investigation. If such a law exists that's why it's not used.
3. I do care, this is why I leave it to the IRS. It's the job of the IRS to investigate his finances not politicians. If something were amiss I would hope they'd find it and act accordingly. This is another witch hunt.
I made this post #4 in another thread about PROBABLE CAUSE, worth a look, here is a sample:
"Democrats appear to have NO probable cause to seize his tax returns, after all that is what the 4th Amendment is about, protecting against unreasonable searches. Since it is an obvious fishing expedition, the President can legally tell them to go away."
More in the link.
That is the correct motorcycle. Democrats never seem to understand that their tactics will be used against them, and that the cycle will continue until one side or the other decides they no longer want to be like their opponents.
Here's the problem with you theory.Since Trump has been convicted twice on civil charges of tax fraud and he refused to submit federal tax returns prior to becoming POTUS, the legal basis for current demands is obvious to all but Republicans who don't care about Trump's many conflicts of interest or how the affect US national interests.
Democrats request 10 years of Trump's finances from tax firm
"The request came from House Oversight Committee Chairman Elijah Cummings, D-Md., who asked for copies of Trump's financial documents stemming from 2009 to 2019 from tax firm Mazars USA. The request follows testimony from Trump's former attorney and fixer Michael Cohen, who alleged that the president had inflated and deflated his worth...."
"Earlier this month, Treasury Secretary Steven Mnuchin suggested he would protect Trump’s privacy if he receives a request from House Democrats for Trump’s tax returns.
"At a House Ways and Means Committee hearing, Mnuchin was asked whether he would meet a request for Trump’s past tax returns. Chairman Rep. Richard Neal, D-Mass., is expected to formally ask for those as Democrats seek to shed light on Trump’s financial dealings and potential conflicts of interest..."
"Neal is one of only three congressional officials authorized under a rarely used 1924 law to make a written request for anyone’s tax returns to the Treasury secretary. The law says the Treasury chief 'shall furnish' the requested material to members of the committee for them to examine behind closed doors. But Mnuchin did not specifically say he would turn them over."
1.You keep using the word request. This means Trump doesn't have too comply. If they could legally get Trumps records without his permission they'd have already done so. This means they do not have a legal basis under any circumstances to see his tax returns. They need Trump to give permission and he doesn't have too.
2.To use that "rarely used 1924 law" are you suggesting that the IRS isn't doing their job? That would mean that the IRS who's job it is to investigate such things, is also in need of investigation. If such a law exists that's why it's not used.
3. I do care, this is why I leave it to the IRS. It's the job of the IRS to investigate his finances not politicians. If something were amiss I would hope they'd find it and act accordingly. This is another witch hunt.
I made this post #4 in another thread about PROBABLE CAUSE, worth a look, here is a sample:
"Democrats appear to have NO probable cause to seize his tax returns, after all that is what the 4th Amendment is about, protecting against unreasonable searches. Since it is an obvious fishing expedition, the President can legally tell them to go away."
More in the link.Trump is reasonably suspected of laundering money for Russian oligarchs linked to the Russian government; that alone is enough to demand his tax returns.
Congress wants to reveal Donald Trump's tax returns - CNNPolitics
"Neal, the only Democrat on Capitol Hill with the power to take such action, is using a little-known IRS code in requesting six years of Trump's personal returns and also wants records from eight of the President's business entities.
"His request is narrowly targeted and rooted in a legal technicality.
"But supporters of the drive to get clarity on Trump's taxes argue that it is vital for Congress to establish whether Trump has any conflicts of interest that bear on his official duties and to see whether he is getting payments from foreign states in violation of the emoluments clause of the Constitution."
Sunsettommy is right.
If he was "reasonably suspected" there would have to be evidence. If there were evidence they would seize his tax returns with no problem by way of court. This hasn't happened which means that no judge has seen enough evidence to sign off on it. This means that He is not "reasonably suspected" and this is another democratic witch hunt. The law is thus far doing it's job protecting Trump because here in the USA you don't get to have searches just because you don't like somebody. This is one of the reasons we had the revolution and one of the reasons the founding fathers wrote it into law.There's no shortage of evidence for Trump's tax dodging, including a pair of civil convictions for failure to pay income tax, and the infamous "empty box" scam in which he cheated New York state out of thousands of dollars in sales tax. As much as you cons object, it won't change the fact Donald Trump is NOT above the law.
Congress wants to reveal Donald Trump's tax returns - CNNPolitics
"Neal's gambit now puts Charles Rettig, the current IRS commissioner, who was nominated by Trump and confirmed by the Senate, in a delicate political position.
"It is all but certain that the administration will take steps to challenge the Democratic interpretation of the law on which the request is based.
"Such a scenario could see the Ways and Means committee issue a subpoena after Neal's April 10 deadline and the unleashing of a complicated legal duel."
Translation: Trump ties it up in court for years and exploits it as a political weapon.
georgephillip
Diamond Member
- Thread starter
- #231
As if you care that Trump comes from a long line of corrupt, lying capitalists who regularly cheat on their taxes:
Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father
"The line between legal tax avoidance and illegal tax evasion is often murky, and it is constantly being stretched by inventive tax lawyers.
"There is no shortage of clever tax avoidance tricks that have been blessed by either the courts or the I.R.S. itself.
"The richest Americans almost never pay anything close to full freight.
"But tax experts briefed on The Times’s findings said the Trumps appeared to have done more than exploit legal loopholes.
"They said the conduct described here represented a pattern of deception and obfuscation, particularly about the value of Fred Trump’s real estate, that repeatedly prevented the I.R.S. from taxing large transfers of wealth to his children.
"'The theme I see here through all of this is valuations: They play around with valuations in extreme ways,' said Lee-Ford Tritt, a University of Florida law professor and a leading expert in gift and estate tax law. 'There are dramatic fluctuations depending on their purpose.'"
Toddsterpatriot
Diamond Member
As if you care that Trump comes from a long line of corrupt, lying capitalists who regularly cheat on their taxes:
Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father
"The line between legal tax avoidance and illegal tax evasion is often murky, and it is constantly being stretched by inventive tax lawyers.
"There is no shortage of clever tax avoidance tricks that have been blessed by either the courts or the I.R.S. itself.
"The richest Americans almost never pay anything close to full freight.
"But tax experts briefed on The Times’s findings said the Trumps appeared to have done more than exploit legal loopholes.
"They said the conduct described here represented a pattern of deception and obfuscation, particularly about the value of Fred Trump’s real estate, that repeatedly prevented the I.R.S. from taxing large transfers of wealth to his children.
"'The theme I see here through all of this is valuations: They play around with valuations in extreme ways,' said Lee-Ford Tritt, a University of Florida law professor and a leading expert in gift and estate tax law. 'There are dramatic fluctuations depending on their purpose.'"
"'The theme I see here through all of this is valuations: They play around with valuations in extreme ways,' said Lee-Ford Tritt, a University of Florida law professor and a leading expert in gift and estate tax law. 'There are dramatic fluctuations depending on their purpose.'"
Sounds serious.
If only we had a government agency that could examine such valuations.
We could call it the Internal Revenue Service...….
georgephillip
Diamond Member
- Thread starter
- #233
As if you care that Trump comes from a long line of corrupt, lying capitalists who regularly cheat on their taxes:
Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father
"The line between legal tax avoidance and illegal tax evasion is often murky, and it is constantly being stretched by inventive tax lawyers.
"There is no shortage of clever tax avoidance tricks that have been blessed by either the courts or the I.R.S. itself.
"The richest Americans almost never pay anything close to full freight.
"But tax experts briefed on The Times’s findings said the Trumps appeared to have done more than exploit legal loopholes.
"They said the conduct described here represented a pattern of deception and obfuscation, particularly about the value of Fred Trump’s real estate, that repeatedly prevented the I.R.S. from taxing large transfers of wealth to his children.
"'The theme I see here through all of this is valuations: They play around with valuations in extreme ways,' said Lee-Ford Tritt, a University of Florida law professor and a leading expert in gift and estate tax law. 'There are dramatic fluctuations depending on their purpose.'"
"'The theme I see here through all of this is valuations: They play around with valuations in extreme ways,' said Lee-Ford Tritt, a University of Florida law professor and a leading expert in gift and estate tax law. 'There are dramatic fluctuations depending on their purpose.'"
Sounds serious.
If only we had a government agency that could examine such valuations.
We could call it the Internal Revenue Service...….
How did the IRS let Fred get away?
Trump Engaged in Suspect Tax Schemes as He Reaped Riches From His Father
"How Fred Trump transferred 1,032 apartments to his children without incurring hundreds of thousands of dollars in gift taxes is unclear.
"A review of property records for the eight buildings turned up no evidence that his children bought them outright.
"Financial records obtained by The Times reveal only that all of the shares in the partnerships and corporations set up to create the mini-empire shifted at some point from Fred Trump to his children.
"Yet his tax returns show he paid no gift taxes on seven of the buildings, and only a few thousand dollars on the eighth.
"That building, Sunnyside Towers, a 158-unit property in Queens, illustrates Fred Trump’s catch-me-if-you-can approach with the I.R.S., which had repeatedly cited him for underpaying taxes in the 1950s and 1960s."
Marianne
Diamond Member
And yet the Democrats have let this slide? Nah. If this so called evidence actually does exist this would have been so much easier for the Democrats use than the whole Russian Collusion load of crap they tried to feed the American people. I don't think they have what you think they have or the impeachment would be a done deal by now.Here's the problem with you theory.Since Trump has been convicted twice on civil charges of tax fraud and he refused to submit federal tax returns prior to becoming POTUS, the legal basis for current demands is obvious to all but Republicans who don't care about Trump's many conflicts of interest or how the affect US national interests.
Democrats request 10 years of Trump's finances from tax firm
"The request came from House Oversight Committee Chairman Elijah Cummings, D-Md., who asked for copies of Trump's financial documents stemming from 2009 to 2019 from tax firm Mazars USA. The request follows testimony from Trump's former attorney and fixer Michael Cohen, who alleged that the president had inflated and deflated his worth...."
"Earlier this month, Treasury Secretary Steven Mnuchin suggested he would protect Trump’s privacy if he receives a request from House Democrats for Trump’s tax returns.
"At a House Ways and Means Committee hearing, Mnuchin was asked whether he would meet a request for Trump’s past tax returns. Chairman Rep. Richard Neal, D-Mass., is expected to formally ask for those as Democrats seek to shed light on Trump’s financial dealings and potential conflicts of interest..."
"Neal is one of only three congressional officials authorized under a rarely used 1924 law to make a written request for anyone’s tax returns to the Treasury secretary. The law says the Treasury chief 'shall furnish' the requested material to members of the committee for them to examine behind closed doors. But Mnuchin did not specifically say he would turn them over."
1.You keep using the word request. This means Trump doesn't have too comply. If they could legally get Trumps records without his permission they'd have already done so. This means they do not have a legal basis under any circumstances to see his tax returns. They need Trump to give permission and he doesn't have too.
2.To use that "rarely used 1924 law" are you suggesting that the IRS isn't doing their job? That would mean that the IRS who's job it is to investigate such things, is also in need of investigation. If such a law exists that's why it's not used.
3. I do care, this is why I leave it to the IRS. It's the job of the IRS to investigate his finances not politicians. If something were amiss I would hope they'd find it and act accordingly. This is another witch hunt.
I made this post #4 in another thread about PROBABLE CAUSE, worth a look, here is a sample:
"Democrats appear to have NO probable cause to seize his tax returns, after all that is what the 4th Amendment is about, protecting against unreasonable searches. Since it is an obvious fishing expedition, the President can legally tell them to go away."
More in the link.Trump is reasonably suspected of laundering money for Russian oligarchs linked to the Russian government; that alone is enough to demand his tax returns.
Congress wants to reveal Donald Trump's tax returns - CNNPolitics
"Neal, the only Democrat on Capitol Hill with the power to take such action, is using a little-known IRS code in requesting six years of Trump's personal returns and also wants records from eight of the President's business entities.
"His request is narrowly targeted and rooted in a legal technicality.
"But supporters of the drive to get clarity on Trump's taxes argue that it is vital for Congress to establish whether Trump has any conflicts of interest that bear on his official duties and to see whether he is getting payments from foreign states in violation of the emoluments clause of the Constitution."
Sunsettommy is right.
If he was "reasonably suspected" there would have to be evidence. If there were evidence they would seize his tax returns with no problem by way of court. This hasn't happened which means that no judge has seen enough evidence to sign off on it. This means that He is not "reasonably suspected" and this is another democratic witch hunt. The law is thus far doing it's job protecting Trump because here in the USA you don't get to have searches just because you don't like somebody. This is one of the reasons we had the revolution and one of the reasons the founding fathers wrote it into law.There's no shortage of evidence for Trump's tax dodging, including a pair of civil convictions for failure to pay income tax, and the infamous "empty box" scam in which he cheated New York state out of thousands of dollars in sales tax. As much as you cons object, it won't change the fact Donald Trump is NOT above the law.
Congress wants to reveal Donald Trump's tax returns - CNNPolitics
"Neal's gambit now puts Charles Rettig, the current IRS commissioner, who was nominated by Trump and confirmed by the Senate, in a delicate political position.
"It is all but certain that the administration will take steps to challenge the Democratic interpretation of the law on which the request is based.
"Such a scenario could see the Ways and Means committee issue a subpoena after Neal's April 10 deadline and the unleashing of a complicated legal duel."
"Congress wants to reveal Donald Trumps tax returns" Sure they want to reveal them so they can look for something to get him on. It doesn't mean they have it already. They are fishing. Considering the link is from CNN which has already been proven to take rumor and raise it to a level of hysteria that people actually think it's fact, the source has lost it's credibility with me. I have their feed on my social media account and their reporting has be laughable and on the level of the Daily Mail. They had democrats everywhere believing in Russian Collusion to the point that when the Mueller found nothing they were almost in tears and having a melt down.
Nevertheless let them take it to court and let a Judge decide the same way Mueller investigated the whole faux Russian collusion. If nothing is found again or if any attempt on Trumps taxes turns out to be another Democratic fueled witch hunt they will make Trump look like a victim and he will win in 2020.
Speaking about above the law,why is it that nothing has been done about Hillary's Emails? How about the meeting of Bill Clinton and Loretta Lynch which smacks of obstruction of Justice. How about the rigging of the DNC? Then there's Obama and Iran. Benghazi? The list goes on and on. This is clearly a witch hunt and not about justice. The Left is simply butt hurt that a non politician stole their thunder and won after they poured millions of dollars into the Clinton Campaign. We don't elect our politician's, they buy our vote... that is until Trump came along. Now that a non politician has proven how worthless Washington is and has instead let the people see they have the ultimate power,the Washington elitists are all bent our of shape. This is nothing but sour grapes by Democrats and some RINO's.
Marianne
Diamond Member
The Democrats GAVE him the weapon on a silver platter because they are so stupid. He'd be dumb not to use it.
Or even more clever, Trump knows he hasn't broken the law and makes himself look like a victim. That would be great for re-election don't you think?
Until Trump was elected nobody cared much about his taxes. All his life he, like other men of business, he's had a team of lawyers and accountants doing this shit for him. Like all men of Business they try to get around the loop holes just like the rest of us try to get out of paying more than we have too. The basic stuff won't shock anyone. I'd bet just about everyone in Congress has some sketchy taxes. This isn't new, it's not a big deal and most importantly of all the IRS has been doing it's job making sure Trump and other business men don't get away with too much. If the democrats do this and don't find something explosive, and I doubt they will, it's only going to make the party look bad. Trumps legal team are prepared so have at it.
Russian Collusion,Stormy Daniels and now taxes. The Democrats already look desperate so they might as well finish the job.
DGS49
Diamond Member
The idea or theory that the Trump's have flown under the radar and have been routinely able to get away with tax evasion strategies is so ridiculous as to be pure fantasy. The Trump's have been high-profile residents of New York for DECADES, hated and resented not only by New Yorkers, but by the very officials who write and enforce the tax laws. They are audited EVERY YEAR, not only during the Donald Era, but previously.
EVERY BUSINESS reports different levels of asset value, revenue, and profits ALL THE TIME, depending on the purpose of disclosure and who is receiving the communication. Anyone who has ever read corporate financial statements with any curiosity has noted that the amount reported as "profit" has almost no relationship with the amoint indicated as paid in FIT. Often very profitable corporations pay no FIT, due to deductions and credits AUTHORIZED BY CONGRESS in the tax code.
The Fourth Amendment and the largely fictitious Right of Privacy trump the curiosity of the Leftists in Congress. Mark my word.
EVERY BUSINESS reports different levels of asset value, revenue, and profits ALL THE TIME, depending on the purpose of disclosure and who is receiving the communication. Anyone who has ever read corporate financial statements with any curiosity has noted that the amount reported as "profit" has almost no relationship with the amoint indicated as paid in FIT. Often very profitable corporations pay no FIT, due to deductions and credits AUTHORIZED BY CONGRESS in the tax code.
The Fourth Amendment and the largely fictitious Right of Privacy trump the curiosity of the Leftists in Congress. Mark my word.
skookerasbil
Platinum Member
Indeed......the DUMS setting themselves up for another self-insertion of the bumpy. Just cant get past the makey-uppey loose association garbage they get in places like the Don LeMon show.
georgephillip
Diamond Member
- Thread starter
- #238
Some elected Democrats have proven they are NOT willing to criminally prosecute rich capitalists who make generous bipartisan campaign donations.
How to Make Trump's Tax Returns Public | DCReport.org
"On June 14, (2018) the New York State attorney general, Barbara Underwood, filed a civil complaint against President Trump and his three oldest children, accusing them of 'persistently illegal conduct' in using the Donald J. Trump Foundation as 'little more than a checkbook for payments from Mr. Trump or his businesses to nonprofits, regardless of their purpose or legality.'
"Ms. Underwood believes there is abundant evidence to bring criminal charges against Mr. Trump as well.
"She made that position very clear in the letters she sent to the Internal Revenue Service and the Federal Election Commission in Washington recommending 'further investigation and legal action.'
Under New York statutes, Underwood lacks the authority to initiate criminal charges in this matter, but Governor Cuomo does and so far he has chosen to take no action.
Watch Cynthia Nixon's brutal ad slamming Andrew Cuomo's refusal to return Trump campaign donations
georgephillip
Diamond Member
- Thread starter
- #239
Trump's handpicked IRS chief and IRS legal counsel both have ties to Trump businesses
"President Trump personally lobbied Senate Majority Leader Mitch McConnell (R-Ky.) to prioritize the confirmation of his nominated Internal Revenue Service chief counsel on Feb. 5, about the time House Democrats started talking seriously about telling the IRS to turn over Trump's tax returns, The New York Times reports.
"On Feb. 27, the Senate confirmed the nominee, California tax lawyer Michael Desmond, and now Desmond will be advising the IRS on how to respond to House Ways and Means Chairman Richard Neal's (D-Mass.) request for six years of Trump's personal and business tax returns.
"As a private tax lawyer, Desmond had briefly advised the Trump Organization on what a spokesman called a 'discrete' IRS reporting matter before Trump took office, Bloomberg reported last July, and he worked alongside two current tax counsels to the Trump Organization, Sheri Dillon and William Nelson.
"Trump's IRS commissioner, Charles Rettig, meanwhile, owns 50 percent shares of two one-bedroom residential rental units in the Waikiki Trump International Hotel and Tower in Hawaii, each worth $1.1 million, The Wall Street Journal reported last June, before Rettig's confirmation hearing.
"And as ProPublica and WNYC noted in October, Rettig — then a California tax attorney — argued in Forbes in February 2016 that Trump shouldn't release his tax returns, four days after Trump unveiled his dubious 'I'm under audit' excuse for keeping his returns secret."
Never Underestimate Trump.
Crixus
Gold Member
They can request all they want but if there's no legal basis for the demand Trump doesn't have to comply.You thought two career Republican hacks had just put an end to investigating the most corrupt POTUS in history?
Wrong Again, Cons.
Democrats request 10 years of Trump's finances from tax firm
"WASHINGTON – House Democrats are pushing to gain access to President Donald Trump's finances and asked a tax firm for documents stemming back 10 years.
"The request came from House Oversight Committee Chairman Elijah Cummings, D-Md., who asked for copies of Trump's financial documents stemming from 2009 to 2019 from tax firm Mazars USA.
"The request follows testimony from Trump's former attorney and fixer Michael Cohen, who alleged that the president had inflated and deflated his worth...."
"In his request, Cummings asked Mazars' CEO Victor Wahba for all financial documents relating to Trump's wealth that was in the firm's possession, any audits done, all communications with Trump and those representing him, along with internal communications related to any concerns over Trump's finances.
"More: 'I am not protecting Mr. Trump anymore.' Michael Cohen ties the president to ongoing criminal probes
"The company was noted in documents Cohen gave to the committee before his February appearance, where he offered Congress a damning portrait of his former boss, saying the president encouraged him to lie to Congress and the public for Trump's protection.
"During his appearance, Cohen cast Trump as a 'racist,' a 'con man' and a 'cheat.'"
If republicans took the house back, what would stop them from requesting the tax’s of Pelosi, Schumer, Schiff, and so on? Where does all this stop? Democrats best hope the RMC keeps gutless cowards running the party. This shit will get out of hand fast.
Similar threads
New Topics
-
Is it true that the Iranian Embasay in Denmark raises the old Persian Flag?- Started by BackAgain
- Replies: 1
-
-
-
-
