U.S. House Democrat predicts request for Trump tax returns in two weeks

[webfact]

U.S. House Democrat predicts request for Trump tax returns in two weeks

 

FILE PHOTO: U.S Congressman Bill Pascrell gestures to the media at the hotel where the seventh round of NAFTA talks takes place, in Mexico City, Mexico March 4, 2018. REUTERS/Ginnette Riquelme/File Photo

 

WASHINGTON (Reuters) - A Democratic member of the U.S. House of Representatives tax committee said on Tuesday that he believed his panel would ask for President Donald Trump's tax returns in as little as two weeks.

 

"My prediction would be the next couple of weeks," said Representative Bill Pascrell, who has led efforts on the tax-writing House Ways and Means Committee to seek Trump's returns over the past two years.

 

"That's my gut feeling. I told you four weeks ago that it would be a month. Now it's two weeks," he told reporters.

 

Pascrell made it clear he had not been given a timeline by House Ways and Means Committee Chairman Richard Neal, who is the only House lawmaker authorized by law to request Trump's returns from Treasury Secretary Steven Mnuchin. The administration is widely expected to refuse such a request.

 

Neal is under pressure to act from some Democratic lawmakers and outside groups. He has held his fire while pursuing other legislative priorities and crafting a legal argument that Democrats hope can weather an expected court battle with the administration.

 

"When I'm asked, I give you what my thoughts are," Pascrell said. He declined to say whether he had seen any draft requests for Trump's returns, calling the effort "a work in progress."

 

Trump defied decades of precedent as a presidential candidate by refusing to release the tax documents and has continued to keep them under wraps as president, saying his returns were under audit by the Internal Revenue Service.

 

But Trump's former lawyer Michael Cohen whetted Democrats' interest in obtaining the documents last week, when he testified before the House Oversight Committee that Trump avoided releasing his returns for fear he would be audited and penalized by tax authorities.

 

Democrats hope that obtaining the returns will allow them to identify any conflicts of interest posed by Trump's global business empire.

 

But Republicans oppose the effort, saying such a move would set a dangerous precedent by turning the confidential tax documents of a U.S. citizen into a political weapon.

 

(Reporting by David Morgan; Editing by Peter Cooney)

 

-- © Copyright Reuters 2019-03-06

[Chomper Higgot]

Trump gets to keep a campaign promise.

[pedro01]

My understanding is he's not obliged to give it, right?

 

So an exercise in futility?

[Berkshire]

3 minutes ago, pedro01 said:

My understanding is he's not obliged to give it, right?

 

So an exercise in futility?

I would think even Trump supporters would have no problem with Trump releasing his tax returns.  Why would you not want to see Trump's returns? 

[mtls2005]

For a start, the White House should clarify if trump's tax returns are or have ever been, subject to audit.

 

This was the main reason he gave for not releasing his returns.

 

14 minutes ago, pedro01 said:

My understanding is he's not obliged to give it, right?

Not up to him. Believe the House Finance Committee can request them from the IRS. Expect Mnuchin would balk. Could go to the courts. Of course, nothing to hide, but...

 

14 minutes ago, pedro01 said:

So an exercise in futility?

No. Obviously, if trump has nothing to hide he would release his returns after the Russian bits have been translated.

 

 

 

Edited March 6, 2019 by mtls2005

[darksidedog]

4 minutes ago, Berkshire said:

I would think even Trump supporters would have no problem with Trump releasing his tax returns.  Why would you not want to see Trump's returns? 

I think it would be a great dilemma for Trump supporters. All the accusations thrown at him, they brush off as Democratic mud, but real solid evidence of cheating or lying about taxes, when backed by the facts could not be repudiated. Their hero could be exposed for what he truly is.

[metisdead]

A troll post has been removed. 

[mtls2005]

13 minutes ago, darksidedog said:

Their hero could be exposed for what he truly is.

 

I think the base can pretty much justify anything, including cheating on his taxes. They'd say "he's smart"?

 

No clue why he wouldn't release them and just put this matter to rest?

 

 

 

[Berkshire]

51 minutes ago, mtls2005 said:

No clue why he wouldn't release them and just put this matter to rest?

There's been speculation that he committed tax fraud and/or evidence of the Russian/Saudi connection.  But the big one that he fears most is that it may reveal that Trump is not nearly as wealthy as he claims to be.

 

51 minutes ago, mtls2005 said:

I think the base can pretty much justify anything, including cheating on his taxes. They'd say "he's smart"?

The mind of a Trump minion....

 

"The President did not break any laws!"

"Ok, maybe he did, but it was his accountants and he knew nothing about it!"

"Ok, maybe he directed it, but it was just minor technicality stuff!"

"Ok, so he bilked taxpayers out of millions, but he was just being a smart businessman!"

[mtls2005]

9 minutes ago, Berkshire said:

But the big one that he fears most is that it may reveal that Trump is not nearly as wealthy as he claims to be.

 

Meh. 

 

https://www.documentcloud.org/documents/4464412-Trump-Donald-J-2018Annual278.html

 

Unless these are not truthful and accurate. Hmm?

 

10 minutes ago, Berkshire said:

The mind of a Trump minion....

 

"The President did not break any laws!"

"Ok, maybe he did, but it was his accountants and he knew nothing about it!"

"Ok, maybe he directed it, but it was just minor technicality stuff!"

"Ok, so he bilked taxpayers out of millions, but he was just being a smart businessman!"

 

"Please sir, can we give you hundreds of millions of dollars in taxpayer funds to build another golf course."

 

 

[Tug]

I don’t think Donald will like that.hopefulley they will succeed and expose him for what he is

[johnnybangkok]

My guess is his fan base just simply won't care. I mean look at what he's got up to in the last 2 years and still he can do no wrong in their eyes.

[SpokaneAl]

The mind of a Trump minion....
 
"The President did not break any laws!"
"Ok, maybe he did, but it was his accountants and he knew nothing about it!"
"Ok, maybe he directed it, but it was just minor technicality stuff!"
"Ok, so he bilked taxpayers out of millions, but he was just being a smart businessman!"

Isn’t that the job of the IRS to review tax returns? I see no reason why anyone should be required to release their personal tax returns.


Sent from my iPad using Tapatalk

[mtls2005]

8 minutes ago, SpokaneAl said:

I see no reason why anyone should be required to release their personal tax returns.


 

You forgot to add, ..."unless they may prove he broke the law".

 

9 minutes ago, SpokaneAl said:

Isn’t that the job of the IRS to review tax returns?

Steve Mnuchin, as Treasury Secretary oversees the IRS.

 

Congressional committees probably have the "job" of making sure the tax code is not being abused by Individual-1?

 

 

[Nickymaster]

 

 

https://www.businessinsider.com/warren-buffett-donald-trump-tax-returns-2016-presidential-debate-2016-10

 

"Finally, I have been audited by the IRS multiple times and am currently being audited," Buffett said in the statement. "I have no problem in releasing my tax information while under audit. Neither would Mr. Trump — at least he would have no legal problem."

 

 

[Berkshire]

5 minutes ago, SpokaneAl said:

 

Isn’t that the job of the IRS to review tax returns? I see no reason why anyone should be required to release their personal tax returns.


Sent from my iPad using Tapatalk

Presidents/candidates for President typically release their returns for transparency reasons, to show the American people they have nothing to hide.  It also goes to possible conflicts of interest, not only that Presidents will not benefit from their office, but that their policy decisions will not be made for personal financial reasons.  For example, we wouldn't want our President kowtowing to Putin or MBS when it's clearly against our national interest.  That sort of thing.

[johnnybangkok]

5 minutes ago, SpokaneAl said:

 

Isn’t that the job of the IRS to review tax returns? I see no reason why anyone should be required to release their personal tax returns.


Sent from my iPad using Tapatalk

 

Oh for God's sake he isn't just anyone is he? He's the President of The United States and as such should be held to a higher standard than most which MUST include whether he is beholding to outside influences and/or just making up BS about how much he is worth. 

Most politicians in western countries have to show they have no ties to corporations and or shareholdings in companies etc. But Donny is special isn't he? Well it certainly seems that way.

[Nickymaster]

1 hour ago, mtls2005 said:

 

I think the base can pretty much justify anything, including cheating on his taxes. They'd say "he's smart"?

 

No clue why he wouldn't release them and just put this matter to rest?

 

 

 

He has been audited for 12 years. And a few seconds later he has been audited for 2-3 years. lol

[Nickymaster]

One of the biggest con artist in the US is in control of the country. What a joke.

[SpokaneAl]

Steve Mnuchin, as Treasury Secretary oversees the IRS.
 
Congressional committees probably have the "job" of making sure the tax code is not being abused by Individual-1?
 
 

That sounds like a fishing expedition.


Sent from my iPad using Tapatalk

[SpokaneAl]

Presidents/candidates for President typically release their returns for transparency reasons, to show the American people they have nothing to hide.  It also goes to possible conflicts of interest, not only that Presidents will not benefit from their office, but that their policy decisions will not be made for personal financial reasons.  For example, we wouldn't want our President kowtowing to Putin or MBS when it's clearly against our national interest.  That sort of thing.

 

Actually this was started by Richard Nixon, when he was Vice President under Eisenhower as a method of getting under the skin of their opponents.

 

 

Sent from my iPad using Tapatalk

[mtls2005]

In related (trump financial corruption) news...

 

Trump Organization's insurance records subpoenaed by NY financial regulator as investigations widen

 

NEW YORK – A state regulator has subpoenaed an insurance provider for The Trump Organization, opening a new front in the widening investigations focused on President Donald Trump, his business, family, and White House administration.

 

Aon, a London-headquartered financial services company that is one of the world's largest insurance brokerages, said it was served a subpoena on Monday by the New York Department of Financial Services. 

 

https://www.usatoday.com/story/news/2019/03/05/trump-organization-insurance-provider-subpoenaed-by-new-york-financial-regulator/3070499002/

[lannarebirth]

2 hours ago, Berkshire said:

I would think even Trump supporters would have no problem with Trump releasing his tax returns.  Why would you not want to see Trump's returns? 

I wouldn't want to show anyone my tax returns, but if I were running for president I would know that it is an expectation that should be met. My recollection is that Trump once said that "he'd love to show his returns except that he's currently under audit". Cohen cast some doubt on that and if it's true he is not currently under audit (hard to believe), he should release as returns just as he said he'd love to do.

[lannarebirth]

1 hour ago, Berkshire said:

There's been speculation that he committed tax fraud and/or evidence of the Russian/Saudi connection.  But the big one that he fears most is that it may reveal that Trump is not nearly as wealthy as he claims to be.

 

 

I think Forbes is pretty consistant about listing his wealth in the 4+ Billion range. His company is incredibly solvent with a debt to equity ration most S&P 500 companies would love to have. That said, no one knows how he arrived at that position. Fair to say not through brain power.

[zydeco]

We should see Trump's returns as well as President Kushner's too. I'm sure there are embarrassing things. I remember when the Clintons were found to be deducting their used underwear. But that is part of it. I doubt Trump has many used underwear deductions, but you never know.

[lannarebirth]

17 minutes ago, lannarebirth said:

I wouldn't want to show anyone my tax returns, but if I were running for president I would know that it is an expectation that should be met. My recollection is that Trump once said that "he'd love to show his returns except that he's currently under audit". Cohen cast some doubt on that and if it's true he is not currently under audit (hard to believe), he should release his returns just as he said he'd love to do.

 

[lannarebirth]

1 minute ago, zydeco said:

We should see Trump's returns as well as President Kushner's too. I'm sure there are embarrassing things. I remember when the Clintons were found to be deducting their used underwear. But that is part of it. I doubt Trump has many used underwear deductions, but you never know.

He should release it. It can't be any worse than Amazon's.

[zydeco]

1 minute ago, lannarebirth said:

He should release it. It can't be any worse than Amazon's.

A person's tax returns can tell a lot about their interests and character. I want to see Trump's. Their returns showed the Clintons being mean and grasping. I'll bet Trump's is full of expenses reinforcing his narcissism, boasting, bragging, and sleazy connections. 

[lannarebirth]

5 minutes ago, zydeco said:

A person's tax returns can tell a lot about their interests and character. I want to see Trump's. Their returns showed the Clintons being mean and grasping. I'll bet Trump's is full of expenses reinforcing his narcissism, boasting, bragging, and sleazy connections. 

I'm sure it's full of HUGE operating loss carry forwards and an expensing of his private lifestyle, together with taking losses on his "brand" which he keeps undervalued for tax reporting purposes and overvalued for all other purposes.

[mtls2005]

36 minutes ago, zydeco said:

I doubt Trump has many used underwear deductions, but you never know.

 

He wears Depends. 

 

Seems like those would qualify as a medical deduction, that along with the bronzer and tanning bed.