Political Persecution? Trump Rages Against the Forthcoming Release of His Tax Returns
Jeffrey Simmons
Published Oct 8, 2024
New York prosecutors can now seek the president’s tax returns. Two of Trump’s conservative appointees, Brett Kavanaugh and Neil Gorsuch, sided with Chief Justice John G. Roberts Jr. concerning the matter. The president is not above standard duty. No citizen has the categorically right to deny documents when called upon during a criminal proceeding — as to which President Trump has since called foul.
Trump angrily chided on Twitter, “POLITICAL WITCH HUNT… Courts in the past have given ‘broad deference.’ BUT NOT ME!â€
“The Supreme Court sends the case back to Lower Court, arguments to continue. This is all a political prosecution. Won the Mueller Witch Hunt, and others, and now I have to keep fighting in a politically corrupt New York. Not fair to this Presidency or Administration!â€
However, in a different ruling, the Supreme Court ruled that Congress will not have access to such records at this time. The lower courts must decide as to whether to narrow the scope of records that Congress may have immediate access to for future decisions. Or in other words, Trump’s financial records will not see the light of day for this election year.
The majority opinion was decided by a 7 to 2 vote with Justices Samuel Alito Jr. and Clarence Thomas dissenting. The landmark rulings are like the Nixon and Clinton files. Nixon was forced to released taped conversations in the Oval Office, and Clinton released evidence for his sexual harassment lawsuit.
As Justice Kavanaugh stated, no president is above the law. Trump’s lawyers are primed to fight the release of Trump’s records. Jay Sekulow views the temporary setback as a small victory. At least for now, the Supreme Court has temporarily blocked New York prosecutors and Congress from viewing Trump’s financial records. Sekulow will continue to raise constitutional objections in the lower courts. Presidents are immune from criminal proceedings and prosecution while in office.
The Times did an investigation in October 2018 into the Trump Organization. President Trump had listed a $916 million loss on his tax returns in 1995. With such a loss, Trump could legally avoid paying taxes for the next 18 years. Of course, the Trump camp will neither affirm nor deny the allegations.
The president proudly boasts that he is a self-made billionaire. Nonetheless, a family informant advised that Trump had understated his earnings and his real estate holdings for years and paid little to no taxes. Trump proudly proclaimed that his father, Fred C. Trump, only gave him a $1 million loan in which he turned into multi-millions made through real estate dealings and leasing the family name to apartment buildings, golf courses, and casinos.
Fred Trump gifted his family and Donald Trump over $400 million in cash and properties to avoid paying the 55% estate and inheritance tax at death. Much of the money was disguised in shell corporations to avoid paying taxes legally. At his death, the New York real estate empire that Fred Trump spent his life building was conveniently sold by Trump. His share was $177.3 million in profits from the family real estate portfolio.
President Trump kept promising to release his tax returns while he was on the 2016 campaign trail. He started the barrage under the Obama administration by starting the birther movement. At first, Trump accused Obama of not being an American citizen and suggested that Obama provide proof of his American citizenship. In return, Trump would produce his tax returns.
Obama took him up on the challenge and immediately, within a few days, produced his long-form birth certificate from the great state of Hawaii. All that was left was for Trump to let America view his tax returns that showcase his wealth and his contribution to American society in the form of paid taxes.
Since the pressing challenge, Trump had produced nothing, and so the wait continues for Trump to disclose his tax returns to the inquiring public. Next, Trump promised to release tax returns from several years of IRS audits.
However, there is a secret to this. It can take the IRS six to eight years to complete an audit of a corporate tax return for each year filed. Since 2002, the IRS has been investigating Trump’s tax returns. And the investigations are still ongoing. There is no law stating that a sitting president cannot release his tax returns.
According to Steven Rosenthal, an associate at the Urban-Brookings Tax and Policy Center, all presidents’ taxes are automatically audited for every year in office. There is no legal reason for a president to hold back his tax records. “The excuse that he’s under audit is a non-excuse. He’s always under audit.â€
Trump has now stated he will release his tax returns once he leaves public office. Trump told the Economist that only journalists cared about his financial records. The American public does not care about his tax returns. But a June poll conducted by the Pew Research Foundation suggests that 56% of Americans would indeed like to view Trump’s tax returns. In the meantime, Americans may have to wait until after the next election.
Trump angrily chided on Twitter, “POLITICAL WITCH HUNT… Courts in the past have given ‘broad deference.’ BUT NOT ME!â€
“The Supreme Court sends the case back to Lower Court, arguments to continue. This is all a political prosecution. Won the Mueller Witch Hunt, and others, and now I have to keep fighting in a politically corrupt New York. Not fair to this Presidency or Administration!â€
The Ruling
However, in a different ruling, the Supreme Court ruled that Congress will not have access to such records at this time. The lower courts must decide as to whether to narrow the scope of records that Congress may have immediate access to for future decisions. Or in other words, Trump’s financial records will not see the light of day for this election year.
The majority opinion was decided by a 7 to 2 vote with Justices Samuel Alito Jr. and Clarence Thomas dissenting. The landmark rulings are like the Nixon and Clinton files. Nixon was forced to released taped conversations in the Oval Office, and Clinton released evidence for his sexual harassment lawsuit.
As Justice Kavanaugh stated, no president is above the law. Trump’s lawyers are primed to fight the release of Trump’s records. Jay Sekulow views the temporary setback as a small victory. At least for now, the Supreme Court has temporarily blocked New York prosecutors and Congress from viewing Trump’s financial records. Sekulow will continue to raise constitutional objections in the lower courts. Presidents are immune from criminal proceedings and prosecution while in office.
Susceptible Tax Schemes
The Times did an investigation in October 2018 into the Trump Organization. President Trump had listed a $916 million loss on his tax returns in 1995. With such a loss, Trump could legally avoid paying taxes for the next 18 years. Of course, the Trump camp will neither affirm nor deny the allegations.
The president proudly boasts that he is a self-made billionaire. Nonetheless, a family informant advised that Trump had understated his earnings and his real estate holdings for years and paid little to no taxes. Trump proudly proclaimed that his father, Fred C. Trump, only gave him a $1 million loan in which he turned into multi-millions made through real estate dealings and leasing the family name to apartment buildings, golf courses, and casinos.
Fred Trump gifted his family and Donald Trump over $400 million in cash and properties to avoid paying the 55% estate and inheritance tax at death. Much of the money was disguised in shell corporations to avoid paying taxes legally. At his death, the New York real estate empire that Fred Trump spent his life building was conveniently sold by Trump. His share was $177.3 million in profits from the family real estate portfolio.
Yearly Audits
President Trump kept promising to release his tax returns while he was on the 2016 campaign trail. He started the barrage under the Obama administration by starting the birther movement. At first, Trump accused Obama of not being an American citizen and suggested that Obama provide proof of his American citizenship. In return, Trump would produce his tax returns.
Obama took him up on the challenge and immediately, within a few days, produced his long-form birth certificate from the great state of Hawaii. All that was left was for Trump to let America view his tax returns that showcase his wealth and his contribution to American society in the form of paid taxes.
Since the pressing challenge, Trump had produced nothing, and so the wait continues for Trump to disclose his tax returns to the inquiring public. Next, Trump promised to release tax returns from several years of IRS audits.
However, there is a secret to this. It can take the IRS six to eight years to complete an audit of a corporate tax return for each year filed. Since 2002, the IRS has been investigating Trump’s tax returns. And the investigations are still ongoing. There is no law stating that a sitting president cannot release his tax returns.
According to Steven Rosenthal, an associate at the Urban-Brookings Tax and Policy Center, all presidents’ taxes are automatically audited for every year in office. There is no legal reason for a president to hold back his tax records. “The excuse that he’s under audit is a non-excuse. He’s always under audit.â€
Trump has now stated he will release his tax returns once he leaves public office. Trump told the Economist that only journalists cared about his financial records. The American public does not care about his tax returns. But a June poll conducted by the Pew Research Foundation suggests that 56% of Americans would indeed like to view Trump’s tax returns. In the meantime, Americans may have to wait until after the next election.
