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Trump rose on Forbes richest list as other billionaires slipped

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56 minutes ago, spidermike007 said:

In the law business there are certain types of avoidance that essentially are seen or construed as an admission of guilt. There are very good reasons why he will not release his tax returns.

 

1. No payment of taxes for over a decade. He essentially admitted to using the losses from his massive bankruptcies and bad deals as write offs. Legal yes. Ethical? Subjective. I think not. But, ethics has never been paramount at Trump International.

 

Of course it is both ethical and legal to utilize operating loss carry forwards and capital loss provisions on tax returns. The question that needs to be answered is were the value of the losses reported properly? If not, that's illegal. Also, dd he drive a business to fail in order to create the reported losses. I don't think that's illegal but it would be unethical.

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  • spidermike007
    spidermike007

    This is absolutely true. It has been over the course of his entire career. And it could end up being his undoing, as it constitutes financial fraud, and probably tax fraud too. He could end up in pris

  • I read somewhere recently (don't ask me for a link) that Trump's alleged 'reported' wealth fluctuates along with the reason for reporting. It seems like his wealth is aggrandized when practicing  brag

  • lannarebirth
    lannarebirth

    Yep, all income within a given year must be declared, although I think I read he donates his POTUS salary to some charity or other. Hopefully not to the Trump Foundation.

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