Will President Trump Release His Tax Returns?

Will President Trump Release His Tax Returns?


Will President Donald Trump
ever release his tax returns? This burning question
dates back before Donald Trump officially announced
he was running for the highest office
in the country. Democrats ratcheted up
their investigations into President Trump. Donald Trump has finally been
cornered on his tax returns. I’m not continuing to go
down this again of you asking me 20
questions on this. More than two years into
his presidency and he still hasn’t
released them. Trump said on the
Hugh Hewitt Show. On the day you declare
how many years of tax returns will you release? Well, I’d certainly go
over tax returns. It’s not illegal for
presidents to withhold their tax returns and there’s
nothing requiring them to make the returns public. The IRS is obligated to
release tax returns if it’s subpoenaed
by Congress. And now this whole issue
is coming to a head. The Democratic controlled
Ways and Means Committee has subpoenaed
the treasury secretary and IRS commissioner to
release six years of Trump’s personal and
business tax returns. The committee has a
right to request financial documents of an
individual for policymaking purposes. The rationale? Chairman Richard Neal says he
wants to review the extent to, “which the IRS
audits and enforces the federal tax laws against
a sitting president.” But so far the Treasury
Department has refused to turn over Trump’s
tax returns. We will follow the law. But this is a
very important issue. We want to make sure
that we follow the law properly. While presidents unveiling their
tax returns is not baked into law,
just like delivering the State of the Union speech
it has become a tradition. Richard Nixon started the
tradition of presidents releasing their tax returns
in the 1970s. As the House was
starting to think about impeachment during
the Watergate scandal, journalists discovered
Richard Nixon took out large deductions in
his tax returns and in an effort to
defend himself he released
his documents. That I welcome this
kind of examination because people have got to know
whether or not their president’s a crook. Well,
I’m not a crook. He launched Executive Order 11786. This authorized his federal
income tax returns to be released to the
House Judiciary Committee. Nixon was eventually
exonerated of committing income tax fraud by
26 to 12 vote. But it didn’t work out
for him in the end. I shall resign the
presidency effective at noon tomorrow. Over the last 40
years every presidential candidate from a major party
has released her tax returns except for
Donald Trump. Despite not releasing his
own tax returns, Trump hasn’t shied away from
calling out other Republicans for not submitting
their finances in past elections. 2012: Donald Trump
called out the then-presidential candidate Mitt
Romney for not disclosing his tax returns.
He told Fox News. I mean Mitt has to
get those tax returns out. I’m a little bit surprised
that, you know, they weren’t better prepared for
that but I assume everything’s fine with
the taxes. Romney did eventually release
his tax returns. Three years later on the
Hugh Hewitt show Donald Trump hinted that he would
turn over his tax returns. On the day you declare
how many years of tax returns will you release? Well, I’d certainly go over
tax returns and I will tell you nobody knows the
tax return business or world better than me. And then Trump did what
he had been teasing for decades. He announced his
candidacy for the president of the
United States. And we are going to make our country great again. But the question of his
tax returns tainted his campaign. In an ABC
interview with George Stephanopoulos he tiptoed
around the topic. Getting any closer to
releasing your tax returns? Well, I’m thinking
about it. I’m thinking about maybe when
we find out the true story on
Hillary’s emails. You know, I’ve been saying
that for a while. Let’s find out. You know what? I’m
very honest with my tax returns. What is
your tax rate? I’m not going to say it
but at some point I’ll release it. He still hasn’t. Trump took to Twitter to
up to his followers on the state of his taxes
tweeting, “Just for your info, tax returns have zero
to do with someone’s net worth. I’ve already filed my
financial statements with the FEC. They are great!” Even members of the GOP
called on Donald Trump to release his tax returns. Mitt Romney spoke to Fox. You know, frankly I think
we have good reason to believe that there is
a bombshell in Donald Trump’s taxes. Following Romney’s interview
with Fox News, the then-presidential candidate
Senator Ted Cruz followed up with his
own message for Donald Trump. As Mitt Romney
observed the fact that Donald seems terrified to
release his taxes suggest that there is
a bombshell there. Why not release the
tax returns that aren’t involved in the audit? Because it’s a link. I have very
big tax returns. I’m sure you’ve seen
the picture where the returns are literally from the
floor to up to here. They’re
extremely complex. Do you think you can do
it before the election though? I hope so. I’d like to. I have no problem – Do you pledge to do
it before the election? Excuse me. Sure. If if the
audit is finished. I’ll do it as fast
as the audits finished. But that argument
is flawed. If anybody’s tax returns under
audit is there a rule that would prohibit
that taxpayer from releasing it. I think I’ve answered
that question, no. During the first
presidential debate, Hillary Clinton and Donald Trump squared
off over his tax returns and her
email controversy. I will release my tax
returns against my lawyer’s wishes when she releases
her 33,000 emails that
have been deleted. Then the next month, the
New York Times released a story saying 1995 tax records
show that Trump may have avoided paying anything
in income taxes for nearly two decades. That year Trump reported
a $916 million dollar loss. Trump was able
to use that almost $1 billion dollar loss
to cancel out future income taxes of
equivalent amounts. During the second debate,
Donald Trump was pressed on the New
York Times report. Did you use that $916
million dollar loss to avoid paying personal federal
income taxes? Of course I do. Of course I do. And so do all of her
donors or most of her donors. I know many
of her donors. And I will totally accept
the results of this great and historic presidential
election if I win. President Trump maybe
something that everybody needs to get used
to including the Republican Party. Despite not releasing his
tax returns the public like so many candidates
before him, Donald Trump was elected president of
the United States. It’s time for us to
come together as one united people. It’s time. But the controversy
surrounding his taxes continued. Just days for Trump
was inaugurated he continued to tiptoe around the
topic saying Americans don’t care at all about
his tax returns. You know the only one
that cares about my tax returns are
the reporters. They’re the only ones. No I don’t think so. I won. I mean, I
became president. No I don’t think
they care at all. But why are Americans so
fixated on Trump’s tax returns? Trump claimed he
took in hundreds of millions in revenue in
2017 from his hotels, clubs, golf courses
and merchandise. No president hasn’t paid
that much money from outside businesses. Other presidents such as
Ronald Reagan and George Bush put their assets into
blind trusts to avoid any conflicts
of interest. In January of 2017, Trump
handed over control of his empire to his
sons Donald Jr. and Eric. My two sons are going
to be running the company. But the profits still
flow to President Trump. Critics of the president
including ethics experts want to see for themselves
exactly how much he’s making, where it’s coming from
and if he’s paying the appropriate taxes. Former director of the
United States Office of Government Ethics, Walter Shaub,
has been a critic of Trump from
the start. Now some have said that the
president can’t have a conflict of interest, but that’s quite
obviously not true. The scramble to find
Trump’s taxes continued. On Twitter, MSNBC is
Rachel Maddow touted that she had Trump’s
tax returns. But it turned out to be
his tax returns from 11 years before. What I have here is a
copy of Donald Trump’s tax returns. We have his federal
tax return for one year for 2005. The returns show that
Donald Trump reportedly took in $152 million
dollars in income. The White House came out
and said that number was calculated after taking
depreciation into account. The paperwork showed
that Trump had a write down of $103.2 million dollars and Trump
paid around $38 million. The alternative
minimum tax. Some even thought it was
a political win for Trump. Now everyone was saying he
never paid any taxes. Everyone was saying that in
that he didn’t make the money that he
reputed to make. I think it was all
in for the White House obviously. And then in October of
2018, another bombshell New York Times report revealed
that Donald Trump received around $400 million
in today’s dollars from his father Fred. A lot of that
money came through sidestepping taxes in the 1990s. Why is it important? This goes against Donald
Trump’s claim that he’s a self-made billionaire who
had barely any financial help from
his father. Overall, Fred Sr. and Mary Trump gave
their children over $1 billion dollars. According to the report,
since that amount of money fell under the 55
percent tax bracket on gifts and inheritance the
Trumps should have paid $550 million dollars. The only ended up
paying 5 percent or $52.2 million dollars. A lawyer for Trump defended
the president in the report telling the paper,
“The New York Times allegations of fraud and
tax evasion are 100 percent false and
highly defamatory.” However, no defamation suit
has been brought against the New York
Times for their story. And more recently, the New
York Times got their hands on printouts of
Trump’s official IRS tax transcripts from 1985
to 1994. The newspaper broke the
story reporting Trump lost more than $1 billion
over those years more than nearly any
other American taxpayer. To defend himself, Trump
tweeted, “Real estate developers in the 1980s and
1990s, more than 30 years ago, were entitled
to massive write offs.” He went on to say,
“you always want to show losses for tax purposes. Almost all real estate
developers did and often renegotiate with banks. It was sport.” After Democrats took the
majority of the House back in midterm elections,
they opened up a potential route for getting
hold of Trump’s taxes. The chairman of the House
Ways and Means Committee Richard E. Neal sent a letter
to the IRS Commissioner Charles Rettig formally
requesting Trump’s personal and business
tax returns. He did this under a
fairly obscure part of the Tax Code Section 6103(f),
which says that upon request any individual tax
return, “shall be furnished to the committee
in a closed executive session.” However, the
committee could potentially vote to
make them public. Representative Neil give the
IRS until April 10th to comply. But the president doesn’t seem
too fazed by this inquest into his tax
returns saying if Robert Mueller didn’t find anything
in his nearly 400 page report then there’s
nothing to find. Mueller I assume,
for $35 million dollars checked my taxes. I say it’s enough. As of the beginning of
May 2019, it’s unclear if Mueller looked into
Trump’s taxes. Despite Trump’s talk, it seems
like he is making every effort to keep
his finances private. He hired a law firm
to help him fight the Democrats. Acting chief of staff Mick
Mulvaney told Fox News. You believe Democrats will
never see the president’s tax returns. No never. Nor should they. Also Trump, his three
children and the Trump Organization are all suing
Deutsche Bank and Capital One in an effort
to block the banks from adhering to other
congressional subpoenas. After missing multiple
deadlines, Treasury Secretary Steven Mnuchin said
in early May that he will not release
Trump’s tax returns to Congress. In response,
Representative Neil subpoenaed the treasury
secretary and IRS commissioner. This could end up
going all the way to the Supreme Court as
a separation of powers escalates this year’s long
battle over Trump’s taxes.

Comments

  1. Post
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    Steven

    He is right. The only people that care about his tax returns are the politicians and reporters to make up a bs story!!!! He just work after the tax rules. He does nothing wrong. If he would cheated, the irs would already get him. It’s all a political hate story against trump. The only reason I would care about his returns is, so I can learn from him to apply it myself!!!!

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    Ame Elia

    he doesn't dare release his taxes and related information… those documents would show he has committed felony fraud, tax evasion, bribery and even treason (just to list a small amount of the crimes that would be revealed)… the real question is, will congress continue to protect a sitting president from the ramifications of life long continuous criminal activity…??>..

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    imaGINAtion

    None of the government officials, except the president is elected by the American people nationwide. Also, unlike the proof of natural born citizenship and residency, tax returns by law are NOT part of the requirements for any political candidates. As result, requesting the sitting president to release his tax returns is ignorant and disturbing. In fact, it's against the people's will. Well, in an extreme case if the Congress wants it, we the American people demand all government officials, including all federal judges, all governors, mayors and all state representatives such as Nancy Pelosi, Adam Schiff, Jerry Nadler and Eric Swalwell, must release all of their tax returns first before the president releases his. We the American people who voted for Trump, do not want Trump to be unfairly singled out.

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    Raviero Martino

    He's a fraud so he will NEVER show the American people the fact that he doesn't pay income tax

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    Karl Hao

    I don't care. His tax return is irrelevant to me. If Congress can demand the President to publish his tax returns, they can do that to me. No, thank you.

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    Uncle Sam

    Steve MUNCHKIN is gonna go to jail …ITS THE LAW to hand over anyone's taxes to the ways and means Committee …it say they SHALL turn over their taxes ..not maybe …not NO …that means you have to BY LAW

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    Theodore Monroe

    Fred Trump didn’t pay taxes,his sister the judge didn’t pay taxes and most definitely Trump didn’t pay taxes at all! The wealthy don’t pay taxes so why elect them to run the country! Very oxymoronic!

  11. Post
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    Uncle Sam

    Do you know they started planing TRUMP running for president in 2012 …this was a well planed Russian plot

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    Mark Boyer

    We don't give a damn about his tax returns. He is getting things done for the people and the leftist/communist politicians are doing nothing but obstructing ( like the border wall). The tax return issue is just another distraction in a long list starting with the fake Russia probe.

  14. Post
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    DAV

    This is a disgusting democRAT channel for garbage rats. The only reason you want his tax release is so that you can begin to accuse and accuse.
    The IRS will deal with that if there is a problem not you trash democRATS garbage rats!

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    Christopher L

    Who cares? Could you imagine how much better our country would be if Trump had any main stream media support? Finally, we have a president with balls, and our country is doing phenomenally, better than ever.
    #MAGA #Trump2020

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    Just Human

    Dumpf is the scare crow that if he is put in the middle of an agricultural field, the crows would flock and the crops would die. Dumpf pollutes and dishonors everything he touches. He is the reverse Midas. He is the malignant cancerous tumor on America's pocket book and respect.

  22. Post
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    Just Human

    America does not need to get used to anything! Drag this con man across the white house lawn handcuffed and shackled, throw him in prison and throw away the keys.

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    Jamin Walker

    I could careless, the left is just pushing an agenda. Including this network, President not releasing tax returns who cares. Is this the same "bombshell" when the left accused him fasley of being a traitor.

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    Trevor Phillips

    Who cares. There's no reason for him to release them. They is no law that says he have to release them.
    Congress just wants to see it for political reason. They no legal reason that they need to see them.

  28. Post
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    Bryce Salte

    Trump 2020. Look CNBC Morons, If he did not pay his taxes and got away with it like Jeff Bezos then he’s not only the best president that ever lived he’s one of the best businessman to. Anybody who knows the legal system well enough to avoid paying most of their taxes is quite frankly a genius and we all admire that. You’ve lost enough as it is American people hate. Go hug some more trees at the Bohemian Grove. Just don’t do it naked or somebody might sneak up behind you 😉

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    jackgoldman1

    This is not a "saga". No requirements to release taxes. None of your public business. The "FED" is part of our business. Why not audit the Fed? Why doesn't the Fed release their financial statements? Why the secret privacy over the Fed who runs our economy? End the Fed. Trump will release his taxes after the 2020 election when there are no more political interests harping for political ammunition. Get it?

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    Quantum Crash

    Thank you for making the left look absolutely ridiculous and boosting Trump's approval ratings to an all time high of 51%. Keep up the good work!

  38. Post
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    Quốc Tế

    I believe he would do that if he met Venom or Hulk here.
    https://www.youtube.com/watch?v=R19JlQYSUQs

  39. Post
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    Andrew O'Sullivan

    News: How on earth could you lose a billion dollars over 10 years!
    Hillary after the election: Sweats profusely.

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    Gijoe215062056 Ham

    I need lungs and heart I know miss malana has to have a under ground connection on a good lungs and heart please.

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    Gijoe215062056 Ham

    Thank you all for following the map even down south . And out west and east a d north all these yrs .

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    Gijoe215062056 Ham

    I'm in white trouble. Too and secret trouble. Just like when you were talking crap in the election .

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    Gijoe215062056 Ham

    See those guys came . I don't know why I was allowed to pay them back I was a little late but paid. There's no comparison

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    Sench

    Better question, is the democratic owned media ever going to get therapy for TDS? Are democrats ever going to start applying law equally?
    First it was prostitute pee tapes, 100% fabricated, dem media pushed it as proven fact. Then it was sexist comments, lies about what he actually said, dem media pushed it as factual sexual harassment. Then it was russian conspiracy, 100% fabricated, dem media pushed it as proven fact. Then it was obstruction of justice, 100% fabricated, dem media pushed it as proven fact. Now it's taxes from before he became a president which he is under no obligation to reveal, dem media says he must – wrong – else it proves he's a criminal – wrong – and he's stealing budget – wrong.
    But of course the same media is just gonna sweep under the rug the FBI conspiracy against Trump in 2016, that the same Mueller was part of it, the whole Hillary emails, and everything else that's inconvenient for them and "extremely dangerous for our democracy".

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    Si ms

    cnbc is as bad as msnbc and cnn. The msm is nothing but Corporate Globalist Propaganda
    Use Independent Media for Real News

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    GOOSE

    NOBODY CARES ABOUT HIS DAM TAX RETURNS. He has the legal right not to provide them. Asking for six years of tax returns to look for a crime. Partisan hacks like this phony tax return documentary. Nobody cares about his tax returns! He will not and I hope he never releases his tax returns. He had a loss but he didn’t break any laws. How about doing a documentary on Hillary Clinton and that fake “Clinton Foundation.”

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    John Jones

    HEY FAKE NEWS, HOW ABOUT A STORY ON THE DEMOCRATS AND FBI SPYING ON THE TRUMP CAMPAIGN?  LETS HEAR SOME REAL NEWS YOU BONEHEADS. CNBC IS SO FAKE.

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    Apache Sakai

    Trump will shoot back, Pls well prepared all Democrats leader and Fake news, Trump will dig all your tax record

  65. Post
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    Relaxation Station

    NAZISM, IS THE ONLY THING IN MEMORABLE HISTORY THAT HAS CAUSED LARGE GROUPS OF PEOPLE TO BEHAVE AS COMPLETELY LAWLESSLY, UNETHICALLY AND MORTALLY DETRIMENTALLY RECKLESSLY AS THIS, DEEPLY ROOTED NAZISM, THAT HAS NOW COME TO BE CALLED POPULISM AND, EVEN IN NORTH AMERICA, WAS QUITE POPULAR IN IT'S DAY!

    HISTORY RECORDS THAT NAZISM WAS STOPPED DURING WORLD WAR TWO, HOWEVER, WHAT HISTORY DOES NOT PLAINLY STATE IS THE FACT THAT MONSTERS CREATE MONSTERS AND THEY ARE EVENTUALLY DEVOURED BY THE MONSTERS THAT THEY HAVE CREATED.

    AND PEOPLE, LIKE THE LONG STANDING GLOBAL SUPERPOWERS, ONLY WANT TO STOP OTHER PEOPLE, LIKE NAZIS, FROM DOING THINGS SO THAT THEY CAN DO THOSE SAME THINGS THEMSELVES!

    https://www.amazon.com/dp/198517801X/ref=rdr_ext_tmb

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    TheMoringa123

    Choose some-one with charachter next time — A ton of great articles on the link from Tulsi2020 to Medium among the social media links

  69. Post
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    Thermal Reboot

    I don't care if he releases his tax returns or not, but I love that assholes heads explode over it.

  70. Post
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    Air Nomads

    I have been off the radar for quite a while….Why is he being investigated over all of these things? Why does it matter?

  71. Post
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    Chas Lehmann

    By law, he isn’t required to. However, if you want to look at tax returns, let’s look at the Senate millionaires who make 174,000 per year. How have they become millionaires?

  72. Post
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    Blip Blip

    Dems LOL – Your own party is sick of hearing Russia this and tax return that! https://youtu.be/xC_Ng_lR_3Y

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    R Fisher

    Of course he won't. You'd see all of his illegal activities. He's certainly not fighting to keep them from being released because of his massive innocence lmao. Duh….

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    God_Laughs _At_Atheists

    I'd rather see Barack Obama's college records that he had sealed. What is he trying to hide? Evidence that he was never born in Hawaii?

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    david snider

    His taxes are a nunya yep none of ya business he worked alittle made
    allitle money and spent some and that is all you need to know he went to
    the bathroom 4 times yesterday 3 wees and a major if that helps It's as
    close to his taxes as your getting oh yea two silent and two loud
    stinkers I know It's a bombshell.

  81. Post
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    TheJukeboxhero15

    today he did, https://www.foxnews.com/politics/federal-judge-house-democrats-mazars-subpoena-trump-financial-record

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    Martin Ljubic

    Good to see Congress score after 3 years of effort.
    Americans are rightly proud to have MORONS hard
    at work on their behalf. President Trump, is just so
    fantastically good that future tax legislation can be
    drafted based solely on his tax returns. So goes the
    psycho logic embraced by the Democrats.

    *We The People know, leaking will be the name of the game!!*
    *And Maxine Waters, is the oldest leaking bowel of them all!!*
    *And leaking tax returns … that … Constitutionally … is overreach!!*
    *That will make for a Constitutional Crisis!!*

  85. Post
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    Martin Ljubic

    Dangling that meatless bone, in front of the Democrats,
    going on three years, its priceless- because its meatless.
    *The Democrats- a bunch of hungry, starving wolves!!*
    And they are happy, for now, gnawing bone, after 3 years.
    *

  86. Post
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    Ong Xuanzong

    Normal people dun care about trump past tax record. But I want to see how politician earn millions of dollars

  87. Post
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    Conrad Werner

    He better… He's the one whose racked up the trillions of dollars worth of debt with China – you still think you aren't a crook? You're about as crooked as my guts.

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    Patriot

    I got an idea. President Trump can show his tax returns, just as soon as Michael Obama shows us his vagina.

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    technoway

    26 US Code § 6103 (f) (1)
    "Upon written request from the chairman of the Committee on Ways and Means of the House of Representatives, the chairman of the Committee on Finance of the Senate, or the chairman of the Joint Committee on Taxation, the Secretary shall furnish such committee with any return or return information specified in such request…"

  92. Post
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    ad cd

    As powerless Democrats I would like to say Trump doesn't have to show his Tax Returns. Look at all the other stuff we haven't been able to make him do. I have lost total faith in the Democratic party. Hillary is lucky that Trump haven't thrown her in jail, she's been awfully quiet, she's like a little quiet church mouse🐭🐁🐀

  93. Post
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    Robert Garcia

    Well, it would only be fair to see ALL of our elected members of Congress Tax returns.
    I am especially interested on whether Schumer and Pelosi will account for the millions "El Chapo"
    stated he paid to them.

  94. Post
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    SWLinPHX

    It's not about whether he is doing anything illegal with his taxes necessarily. It is that he doesn't want us to see that he is not nearly as wealthy as he wants people to think. Just like he forgot the other $399 million his daddy gave him when he claimed to have only gotten $1 million and be "self-made", LOL.

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    Vermonster90

    All Presidential candidates should show Taxes and Birth Certificates prior to even getting on a Primary Ballot… It's not that hard you can't register for your kids for sports or get a mortgage without either… It's not that high of bar to set… I say both of these requirements should be federal law…

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