Perhaps related:
Narrator: “Rettig turned the blind eye for cash.”
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It’s jailing time!
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Looking forward to the day when that sheet of ones represents the Mnuchin’s net worth.
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Repubs are already threatening to release the tax returns of all the Democratic presidents. I think they really might not know…
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I read where one of them was lip spitting that eventually all the Supreme Court justices would have their tax info released.
I’m ok with that. In fact it should be a requirement.
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Bring it on!
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“He added that following his resignation as CEO, Musk would “run the software & servers teams” at Twitter, indicating he may continue to exercise significant influence on the company’s decision-making.”
Weasel words to try and mollify the Tesla board.
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YEAR ADJUSTED GROSS INCOME TAX BASED ON
INCOME AND A.M.T. TAX CREDITS FINAL TAX BILL
AFTER CREDITS
2020 –$4,795,757 $0 $0 $0
2019 4,380,714 558,780 –425,335 133,445
2018 24,339,696 9,356,232 –8,356,766 999,466
2017 –12,916,948 7,435,857 –7,435,107 750
2016 –32,409,674 2,234,725 –2,233,975 750
2015 –31,756,435 2,127,670 –1,485,739 641,931
Tax credits include foreign tax credits, the General Business Credit and other credits.
Mr. Trump’s income, by source
| CATEGORY | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 |
|---|---|---|---|---|---|---|
| Wages | $14,141 | $978 | $373,629 | $393,957 | $393,928 | $393,229 |
| Interest | 9,393,096 | 8,994,141 | 6,758,494 | 9,435,377 | 11,332,436 | 10,626,179 |
| Dividends | 1,729,897 | 337,938 | 21,984 | 60,254 | 71,921 | 25,347 |
| Business income | –599,030 | 8,797,393 | 1,433,030 | –430,408 | –225,560 | –29,686 |
| Real estate | –7,882,011 | –15,939,523 | –16,746,815 | –11,992,220 | –16,472,951 | –15,676,469 |
| Other business | –76,909,237 | –44,955,324 | –12,306,111 | 4,826,478 | 0 | 0 |
| Capital gains | 35,835,453 | 10,941,053 | 7,528,298 | 22,015,123 | 9,257,197 | 0 |
| Other gains | 6,603,042 | –444,633 | 33,740 | 0 | 0 | –501,255 |
| Pensions | 77,808 | 77,808 | 84,351 | 86,532 | 86,532 | 86,532 |
| Refunds | 0 | 0 | 0 | 0 | 0 | 382,065 |
| Total income | –31,736,841 | –32,190,169 | –12,819,400 | 24,395,093 | 4,443,503 | –4,694,058 |
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So, just to confirm, he’s a loser. Bigly.
Here’s the archive link: archive.ph
Wouldn’t it be great for the rest of us if our income dropped that we’d stop paying taxes all together?
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It’s more that he’s a cheater. Those ‘losses’ are really bookkeeping sleight of hand to offset any income he can’t hide from the IRS due to required reporting by other companies which do follow tax laws correctly.
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We are guaranteed to see many more trump tax cheats but here’s one that makes one wonder who the hell is even looking at anybody’s tax filings:
- Among items report says merit scrutiny are US$126.5 million in write-offs over five years tied to sales from an entity that didn’t appear to be selling anything
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It was some very high level quantum accounting.
They were generated from nothingness in the quantum asset vacuum.
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Zero point financing! The holy grail of quantum grifting!
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That’s some Ferengi level grifting!
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He has not navigated the Great Material Continuum with skill and grace. It’s the shoals of prison for him at the hands of the Ferengi Commerce Authority.
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I guess that lack of oversight is inevitable when the IRS assigns a total of (checks notes) ONE agent to audit a guy who has an entire accounting empire dedicated to hiding his business transactions:
In April 2019, on the very day the committee inquired about the status of mandatory presidential audits, the IRS notified Mr. Trump that his 2015 return would be examined. But the audit was assigned mainly to one agent, and Mr. Trump threw sand in the gears. The lone IRS employee had to review a return that included over 400 pass-through entities, numerous schedules, foreign tax credits and millions in carried-over losses from previous years.
I assume if the IRS employee actually beat the odds and uncovered anything then Trump would make it his personal mission to destroy that person’s life and career forever.
And that was what happened when they did audit one of Trump’s tax returns, apparently the IRS didn’t bother auditing his returns for the first two years of his Presidency at all even though they were legally required to.
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The legislation considered on Thursday specifically calls for audits of presidential tax returns and those of other entities controlled by the commander in chief to be carried out as quickly as possible after the information is filed. Additionally, the bill would mandate that the president’s tax returns are disclosed within 90 days of them being filed.
“The Committee expected to find that the mandatory examinations were conducted promptly, and that more staff had been dedicated to the program to meet the more rigorous demands. Instead, after years of stonewalling and litigation ending at the Supreme Court, the Committee found that, for all practical purposes, the mandatory audit program was dormant,” he said.
“It wasn’t just functioning poorly — it was not functioning at all,” he added.
The chairman said the “best available recourse” after the agency “failed to administer” its own policy “is for Congress to fill this void with legislation that eliminates the IRS’s discretion in the matter.”
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Cool, cool. So, can we expect to see legislation for all those other rules 45 and his minions managed to ignore or evade while he was in office? They could start with the emoluments clause, time limits for interim appointees who aren’t confirmed, firing staff members who don’t qualify for a security clearance, etc…
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