Trump's Taxes

The NY Times gets Trump's taxes from the late 80's and early 90's. He lost a lot of money, as we already knew from earlier reporting and one of his own books.

But the House Ways and Means request for Trump's recent returns is heating up! Here is a Times story and editorial.

The story is not as dreadful as the editorial and makes a half-hearted effort to present both sides of the dispute:

Mr. Mnuchin, who is one of Mr. Trump’s most trusted aides, has signaled his concern about the request, arguing that it appeared to be political in nature and that honoring the demand would be a violation of taxpayer privacy. He has warned that if the I.R.S. releases Mr. Trump’s returns, then lawmakers from both parties could be vulnerable to such prying. In an April 23 letter to Mr. Neal, Mr. Mnuchin said that the demand amounted to “exposure for the sake of exposure.”

The Treasury secretary said that the Justice Department would memorialize its advice on the matter in a published legal opinion.

House Democrats have argued that the law is clear that congressional tax writing committees have broad authority to request the returns of any taxpayer. Mr. Neal said that the request was made so that Congress can assess the effectiveness of the automatic audits that all sitting presidents face.

In his letter, Mr. Mnuchin said that the Treasury Department was willing to provide more information to the committee about how the I.R.S. conducts its mandatory examinations of presidential tax returns.

I say "half-hearted" because despite a link to the May 6 letter from Sec. Mnuchin to Chairman Neal, there is no link to the April 23 letter mentioned above. Too bad, and a disservice to any readers seeking information rather than affirmation, since it is a 52 page opus surely representing the first draft of the legal opinion promised by the DoJ.

 

Also omitted is an interesting parallel to a case with which The Resistance is undoubtedly familiar, Trump's "Muslim ban". There, it was argued (with early but not final success!) that the public record of Trump's comments should count against his textual statutory powers.

 

Turnabout being fair play, Sec. Mnuchin and the DoJ argue (Apr 23) that there is a voluminous public record making clear that the Democratic goal is the release of Trump's tax returns (probably protected by privacy laws), not, as Chairman Neal claimed, an attempt to assess the rigor and vigor of Presidential tax audits.

 

Also missing from the Times account (but not the Mnuchin letter) is the tidbit that Neal, prior to his chairmanship, acknowledged that a request for the President's returns would be a first, and the goal would be public exposure. Sadly, it is behind the WSJ paywall (I really need to put in a budget request) but here is a taste from The Week (my emphasis of phrase quoted by Mnuchin):

 

The Democrats in line to lead the Senate and House finance committees say that if their party takes control of either house of Congress in the midterms, they will use their authority to obtain a copy of President Trump's tax returns. "We will do that," Rep. Richard Neal (D-Mass.), in line to chair the House Ways and Means Committee, told The Wall Street Journal. Sen. Ron Wyden (D-Ore.), a longer shot to become chairman of the Senate Finance Committee, said he would request Trump's tax returns, too.

 

"Under the tax code, the Ways and Means chairman can demand and receive any taxpayer's records from the IRS for confidential review," explains the Journal's Richard Rubin. "Neal wouldn't need approval from the full House, the Senate, or the administration." Neal said if he gets Trump's returns, he'll consult with his staff, House lawyers, and Democratic leaders; they could decide to release some or parts of the returns, which would require a committee vote, keep them confidential, or have them analyzed by nonpartisan analysts. "This has never happened before, so you want to be very meticulous," Neal told the Journal.

 

The Resistance HQ editorial sidesteps all this by imagining the April 23 letter out of existence. Despite links to other other letters amongst IRS Commissioner Rettig, Chairman Neal and Sec. Mnuchin, there is no link to the April 23 letter. Instead, we are assured that

 

"The Treasury secretary cited no authority for this stonewalling..."

 

The courts will sort this out. The editorial does link to the underlying law as well as the Supreme Court decision on Watkins, which limited the reach of Congressional oversight, thereby enhancing the illusion that this is a thorough recap of the topic.

 

IMHO, further weaponizing the IRS is a dreadful idea in a country which relies so heavily on voluntary compliance with tax law. Personally, I wonder whether the Obama Administration went easy on tax audits of advisers such as Valerie Jarrett or big donors such as billionaire Episcopalian Tom Steyer. Or has Nancy Pelosi (who provides disclosure forms but not returns) been getting a pass from IRS auditors? Senate Republicans could get curious about this tomorrow, and it would be a disastrous abuse of government power if they did.

 

MORE: Unless they work up the nerve to commence impeachment, the law is against the House Democrats, argues this tax law prof. Bonus insight I read somewhere: House Judiciary can demand the returns in an impeachment context but has no legal avenue to release them. As if leaks never happen and wouldn't here...

Comments

[Narciso79]

This is the same carry forward tax loss that saban used in 09, that xarlos slim has used in the past.

[henry]

Face it, the Dems have gone full Mao.

[Narciso79]

Meanwhile in the real journalism department
https://mobile.twitter.com/Techno_Fog/status/1125831435695403009

[Jane]

I think Trump should pass an executive order revealing all of Congress' taxes.

[sbwaters]

I admire TM’s fortitude in his ability to stomach the NYTimes without retching.

[Captain Hate]

From the last thread, Kelly sounds like as big of a backstabber as Powell, giving ammunition to loons like Patterico.

[MissMarple2]

henry,

Full Mao or full Stalin.

https://spectator.org/sinking-to-third-world-status/

[Extraneus]

Re-linking Margot Cleveland's latest:

Robert Mueller’s 10 Most Egregious Missteps During Anti-Trump Russia Investigation

[James D.]

From the prior thread:

In a news release, House Oversight Committee Chairman Elijah Cummings, D-Md., said he advised the Department of the Interior in writing that "any official at the Department who 'prohibits or prevents' or 'attempts or threatens to prohibit or prevent' any officer or employee of the Federal Government from speaking with the Committee could have his or her salary withheld pursuant to section 713 of the Financial Services and General Government Appropriations Act."

Good. Let the Democrats set that precedent. Then the GOP can do the same in return as needed.

[Texas Liberty Gal]

Sorry I've been out of pocket for so long. I have had several complication with my broken arm - won't bore you with details Did want to update you on Mr. TLG'S election. There were 3 candidates, although one was ruled ineligible NEVERTHELESS THE 3 CANDIDATE RULE WAS IN EFFECT..So he had to get 50% + 1. He got 45% so there will be runoff June 8th. Prayers appreciated!!

[Captain Hate]

The tax leaks are another hit job by the Uniparty to warn any outsiders not to run for the highest office again. It's really a concerted attack on the concept of citizen government.

[Extraneus]

Remember when the Dem memo about stopping Miguel Estrada was unearthed? It included the reason they were so determined, which was that he was Hispanic, and would have been devastating if the whole narrative wasn't immediately shifted to the question of how the document was uncovered. This led to GOP firings & resignations, if I remember right, but not the slightest recrimination for the racist Dems.

Probably not going to play out like that regarding Trump's taxes, huh?

[Narciso79]

Prayer for you tlg

[JimNorCal]

If you applaud Eastern Europe standing up for Western Civ, this will make your reading list.

CRB (the publisher of the article) has the official stamp of Google Disapproval, too!

https://www.powerlineblog.com/archives/2019/05/crb-hungary-and-the-future-of-europe.php

[clarice]

You got 'em TLG

[MissMarple2]

ChiTown just sent me a poll result from C-SPAN. Should Attorney Heneral Barr be held in contempt?

Right now results are yes, 32% and No, 68%.

[MissMarple2]

Prayers, TLG!!

[Melinda]

Poll, so don't be shy!:

https://twitter.com/cspan/status/1126116099009982466

[JimNorCal]

This was posted last thread by MissM, and it reminds me to ask--is the House ONLY grandstanding?
More precisely, is ANY work being done on a federal budget for this year?

I'm OK with "shut the gov't down because the House was too busy to pass a budget"

[Captain Hate]

Did anyone get fired for leaking Linda Tripp's personnel records? I'm pretty sure the answer is no. Maybe this time will be different but nobody seems to have the appetite for dealing harshly with the feral deep state.

[lurkersusie]

Great article

Ned Ryun
@nedryun
·
"Mueller’s prosecutorial Pequod, the once-invincible, media-beloved, whale-killing man-of-war, carrying the impeachment hopes & removal from office dreams of many a Great Orange Whale-hunter. . . was sunk by an actual agent of cosmic justice." (link: https://amgreatness.com/2019/05/07/the-sinking-of-muellers-prosecutorial-pequod/) amgreatness.com/2019/05/07/the… #MAGA #TCOT

[MissMarple2]

Satement from the White House on Executive Privilege:

[MissMarple2]

Sarah posted that as a screen cap. I copied it here rather than embedding the tweet because the nasty people were in the Twitter comments.

[peter]

Prayers for TLG; for your hand healing and your hubby’s success

[JimNorCal]

Left out the link above ....

https://www.foxnews.com/politics/democrats-threaten-trump-officials-withhold-salaries-jesse-watters-reacts

Is this BS all that Congress is doing?
How can I find out the state of the budget?

[MissMarple2]

Jim,

Yes, that is all they are doing.

[MissMarple2]

Donald J. Trump
‏Verified account @realDonaldTrump
9m9 minutes ago

“Everyone wants to know who needs to be accountable, because it took up two years of our lives talking about this Russian involvement. It proved No Collusion, & people want to trace it back to see how this all happened?” @ainsleyearhardt @foxandfriends TREASONOUS HOAX!

[MissMarple2]

Donald J. Trump
‏Verified account @realDonaldTrump
6m6 minutes ago

“This British Spy, Christopher Steele, tried so hard to get this (the Fake Dossier) out before the Election. Why?” @kilmeade @foxandfriends

[MissMarple2]

The President retweeted himself from earlier this morning. Since we are on a new thread, I will post it again:

Donald J. Trump
‏Verified account @realDonaldTrump
4h4 hours ago

Real estate developers in the 1980’s & 1990’s, more than 30 years ago, were entitled to massive write offs and depreciation which would, if one was actively building, show losses and tax losses in almost all cases. Much was non monetary. Sometimes considered “tax shelter,” ......

....you would get it by building, or even buying. You always wanted to show losses for tax purposes....almost all real estate developers did - and often re-negotiate with banks, it was sport. Additionally, the very old information put out is a highly inaccurate Fake News hit job!

[Gentlejim]

TLG,
I hope your complications are all in the rearview.

Looks like Mr. TLG will be on the proper side of an asswhoopin’. Good luck to him and you.

[MissMarple2]

https://www.politico.com/magazine/story/2019/05/08/robert-kennedy-jr-measles-vaccines-226798

Kathleen Kennedy Townsend, Joseph P. Kennedy II, and Maeve Kennedy McKean break with RFK Jr. on vaccinations, and tell him he is spreading falsehoods which are dangerous.

[D]

TomR:
For absolute proof that Mueller wasn’t working with the President, please read Margot Cleveland’s article on the abject failure of Mueller.
President Trump doesn’t tolerate sloppy work, ergo no 4D.

[Beasts of England]

Obligatory:

https://youtu.be/dgaM43KCqT4

[D]

Lurkersusie:
Once again you provide the most interesting article and new information!

[JM Hanes]

Does anyone else find the President's tax returns, such as they are, a total snooze? I'd be surprised if even the Times tries to keep this story alive. Maybe I'm wrong, but I think that aside from the rabid partisans, most folks just don't want to hear about it any more. You can only cry Trumpen-Wolf so many times.

[D]

TLG:
Prayers for you and your husband.
Keep us updated.

[D]

JMHanes:
Totally agree!

[JM Hanes]

TLG:

So sorry to hear of your surgical trials and hope you get the use of your right hand back soon! It's not till you have to rely on your left hand that you realize just how much your right hand "knows!"

Best of luck to you and Mr. TLG! I'm rooting for you both!

[Melinda]

JMH-

Does the appearance that parties in govt will use ANYTHING against a foe send any messages to the public? Or is the content more important?

The tepid response to the contents release tells me that the message being highlighted is not the contents at all.

[KevlarKid]

Nice Beasts. Smokin Joe owned that cover.... thanks for the great start to a heavy day. :D

[James D.]

JMH @ 11:04

There was nothing in that story that wasn't already reported during the 2016 campaign. It's a huge nothingburger.

Well, except for the fact that it's a crime, and it demonstrates (as though we needed more proof) that the entire federal bureaucracy is riddled with criminals and traitors; and that the Democrat party and the MSM are completely unhinged beyond any reason.

[Extraneus]

I like how the executive privilege statement noted that it's being done at Barr's request.

The righteous finger is duly raised.

They'll probably be sorry they pissed him off.

[Melinda]

Nice, Juncker's still drunk?

https://www.dailymail.co.uk/news/article-7004691/EUs-chief-Brexit-negotiators-brand-Theresa-insane-foul-mouthed-rant.html

[Extraneus]

(Click to open.)

[Extraneus]

(Click to open.)

[Extraneus]

COMEY HITS BACK AT BARR: ‘THE FBI DOESN’T SPY, THE FBI INVESTIGATES’

“I have no idea what he’s talking about,” Comey said in an interview on “CBS This Morning.”

...

“The Republicans need to breathe into a paper bag,” he said.

“If we had confronted the same facts with a different candidate, say, a Democrat candidate, where one of their advisers was talking to a foreign adversary’s representative, about that adversary’s interfering in our election, they’d be screaming for the FBI to investigate it, and that’s all we did.”

“People just ought to look at the predication for the opening of that investigation. We should have been fired if we didn’t investigate this.”

[Extraneus]

Despite Comey’s claim, there is no evidence yet the FBI had learned a representative of a foreign adversary had talked to a Trump campaign adviser about interfering in the election by the time the bureau opened its investigation.

Plus, the bags under his eyes make it appear that he hasn't been sleeping well.

[Narciso79]

What were the grounds inspector dreyfus,

[Beasts of England]

'...they’d be screaming for the FBI to investigate it, and that’s all we did.”'

Now, about the defensive briefing that was provided to Feinstein but not to Trump...

[Narciso79]

Well they know who was in who's pocket
https://audioboom.com/posts/7254543-the-russians-and-the-chinese-are-looking-at-this-russiagate-and-trying-to-figure-out-what-the

[henry]

Ext, Comey sounds like Wray’s testimony.

[Narciso79]

They were part of the legion of doom back in 2004,

[Jane]

Ex,

All that bitches' friends were the terrorists.

[Narciso79]

Indeed as choudary would say the magnificent t 19.

[Narciso79]

Of course the Brits are releasing chowdary.

[MissMarple2]

Donald J. Trump
‏Verified account @realDonaldTrump
15m15 minutes ago

GREAT NEWS FOR OHIO! Just spoke to Mary Barra, CEO of General Motors, who informed me that, subject to a UAW agreement etc., GM will be selling their beautiful Lordstown Plant to Workhorse, where they plan to build Electric Trucks. GM will also be spending $700,000,000 in Ohio...

....in 3 separate locations, creating another 450 jobs. I have been working nicely with GM to get this done. Thank you to Mary B, your GREAT Governor, and Senator Rob Portman. With all the car companies coming back, and much more, THE USA IS BOOMING!

[Jane]

This is cool:

Riverton, Utah, has declared itself a “sanctuary city for the unborn.”

https://dailycaller.com/2019/05/08/utah-community-sanctuary-city-unborn/

[Extraneus]

“If we had confronted the same facts with a different candidate, say, a Democrat candidate, where one of their advisers foreign opposition researchers was talking to a foreign adversary’s representative, about that adversary’s and then interfering in our election, they’d be screaming for the FBI to investigate it, and that’s all we did didn't do.”

[GUS]

FULL MAO or FULL STALIN???

This sounds familiar.

[Stephanie Nene Not Your Normal Granma]

Archie Harrison Mountbatten Windsor

[GUS]

Withholding salaries, OH THE HUGE MANATEE another FULL COMMIE GUBMINT SHUT DOWN.

I APPROVE!!!!

[MissMarple2]

Archie?

[henry]

Gus, this difference is the amount of snow at the camps.

[Narciso79]

Short for Archibald

https://babalublog.com/2019/05/07/coverage-of-venezuelan-crisis-the-media-is-either-lazy-or-complicit-with-the-murderous-socialist-dictatorship/

[GUS]

Sugar, oh honey honey, you are my candy girl, and you've got me wantin' you.

[GUS]

Ext, sorry to be so blunt, BUT....Comey sounds like an unhinged pussy.

[MissMarple2]

Donald J. Trump
‏Verified account @realDonaldTrump
7m7 minutes ago

Republicans shouldn’t vote for H.R. 312, a special interest casino Bill, backed by Elizabeth (Pocahontas) Warren. It is unfair and doesn’t treat Native Americans equally

[Narciso79]

This was the fellow the BBC had profiled:

https://www.google.com/amp/s/www.telegraph.co.uk/news/2019/05/08/footage-london-bridge-attack-shown-inquests-victims-deaths/amp/

[Tom R]

CH @ 10:02

I think that article is mischaracterizing Kelly’s comments just like Gatewaypundit and Sundance were guilty of mischaracterizing Wray’s testimony yesterday.

The WH Chief of Staff traditionally is 100% responsible for the activities of the WH staff. Everything WH staffers do has to be run by the CoS before it gets presented to the POTUS. Instead the past WH staffers who bypass the CoS and go directly to the POTUS on policy issues likely got fired.

Ivanka and Jared are unique WH staffers and thanks to their family relationship could bypass Kelly and go straight to Trump. I think it’s reasonable on Kelly’s part to get frustrated if Ivanka and Jared left him out of the loop on major policy issues, especially if it was foreign policy related which we know Kushner is heavily involved with. Regardless of their relationship with Trump bypassing the chain of command is typically frowned upon.

I think Kelly was just explaining how this was a unique challenge he had to deal with on a daily basis. I think Kelly is smart enough to realize it would be colossally stupid on his part to insist Ivanka and Jared seek his permission before discussing issues with Trump.

[D]

I like the name Archie.
Very British.

[Tom R]

S/B In the past WH staffers who...

[Narciso79]

No Tom r he was evasive he could have said I wasnt aware of any spying at the time, but we are reviewing procedures under which said investigations were conducted.

[Tom R]

Maryrose @ 11:01

Once again a pundit has triggered your confirmation bias and convinced you they have “absolute proof”. I really suggest you take Rosenstein’s warning about punditry seriously because you keep making the same mistake of forgetting they don’t have all the information and are only speculating on the matter.

[Narciso79]

It's a fair bet:

https://www.dailycaller.com/2019/05/07/papadopoulos-2016-gop-campaigns-spied/

[henry]

Tom R, in the transcripts I saw, Wray never uttered that icky “spy” word.

[MissMarple2]

Steve Contorno
‏Verified account @scontorno
7m7 minutes ago

BREAKING: The Florida Bar has determined that further investigation into U.S. Rep. Matt Gaetz is warranted for the Republican's menacing tweet at Michael Cohen. The case now moves into a grand jury-like phase.

http://www.tampabay.com/florida-politics/buzz/2019/05/08/further-investigation-into-matt-gaetz-is-needed-for-tweet-at-michael-cohen-florida-bar-determines/

[Captain Hate]

Tom,

Kelly was smart enough to avoid the land mines to become a general and he's plenty savvy enough to know what to avoid in a gotcha interview, like even subjecting himself to one. Regarding Gateway Pundit, as long as they insist on using gossipy Jim Hoft on these "blockbusters", they're not a credible source.

[GUS]

I guess he's no longer in love with SUNDUNCE and JACK DIDDLEY.

[MissMarple2]

Bo Snerdley
‏ @BoSnerdley
8m8 minutes ago

Rush on the judiciary hearing - "this is what the slow creep of insanity looks like"

[Captain Hate]

Archie?

Dimwit Junior.

[Tom R]

Narciso and Henry

Wray parsed his words to indicate his personal knowledge of FBI actions were limited to what occurred after he became FBI Director. He said the allegations of misconduct by the FBI that occurred against Trump were under investigation by the IG and that he had no personal knowledge of what all occurred during that timeframe. His statement got dishonestly twisted by both the Fake News media and pundits like Gatewaypundit and Sundance.

[henry]

Tom R, he never said the word “spy.” That omission was a gift to the media.

[GUS]

Capn, Jim Hoft is a creepy dude.

[Jim Eagle]

narciso,

Choudry is back in Finsbury wearing an ankle bracelet with a number of restrictions but still another step in national suicide.

[Neo]

lawmakers from both parties could be vulnerable to such prying

Clearly, Nancy Pelosi (self proclaimed to be "equal to the President") must reveal her tax returns, too.

[Narciso79]

Well hes had two (redacted) years to look into it, get out the kris knives.

[Rocco]

I never trusted Wray, didn't he try to squash the release of the FISA docs?

https://bigleaguepolitics.com/fbi-director-wray-covers-for-deep-state-alleges-no-evidence-of-illicit-spying/

[Narciso79]

Unless hes wearing a muzzle like Loki in avengers even then,

[Captain Hate]

Yes, GUS, his untrustworthiness is brought up by the Horde as much as Shemp-in-training Liz Claman's massive rack.

[Jim Eagle]

Archie is the tennis playing crocodile in the Koala Brothers cartoon show. Don’t ask how I know this.😉

[Neo]

Ocasio-Cortez suggests Trump may be 'vulnerable to shady activity' due to alleged business losses

.. says the lady who never saw a garbage disposal.

[lyle]

menacing tweet

How pathetic. IHTFP

[Extraneus]

So Krassenstein is the first and third response to Trump's casino tweet, and he even mentions that he grew up in Atlantic City or something, meaning he had at least a few seconds to compose his tweet after he read Trump's.

Does Twitter allow people to pay extra to be the highest response? If not, how is it possible unless Twitter is holding Trump's, giving Krassenstein a heads-up and allowing him time to schedule his response for right after they publish Trump's?

Is anyone looking into this obviously corrupt situation?

[GUS]

Yes NEO, DOUBLE ZERO doesn't have to worry about being vulnerable because her BIZNESSES lost money.
She couldn't even share tips accurately.

[Tom R]

CH @ 12:27

Glad to see you and I and even Gus are in agreement on Hoft. Somehow Hoft is the most frequently linked pundit on this blog which has me scratching my head trying to figure out why.

[Buckeye]

Jack Dorsey needs the Mitch Rapp treatment.

[Beasts of England]

Harrison but no Ringo? 😐

[henry]

Block chain is so secure... we can guarantee our elections with it. Oops.

@marketwatch

More than $40 million in bitcoin stolen in hack of world’s biggest cryptocurrency exchange

[Neo]

Multiple sources close to the investigation told Denver7 late Tuesday night that the second suspect, who is a minor, is a transgender male who was in the midst of transitioning from female to male.

The sources said that the motive of the alleged shooters went beyond bullying and involved revenge and anger towards others at the school and that at least one of the suspects was involved in legal and illegal drug use and had been in therapy.
https://www.thedenverchannel.com/news/local-news/at-least-one-victim-in-shooting-at-stem-school-highlands-ranch-authorities-say

I suspect this story will disappear quickly.

[Narciso79]

They really thought it was unbreakable, lol.