tRump's tax issues

[SHRED]

Is what he has pulled off, for decades, legal?

If not then what is the IRS waiting for?

[BSdetect]

1. There will be a huge outcry from the GOP etc etc

I just don't know the answer but they will take their time I guess.

Imagine all the new conspiracy theories?

It would be so poetic if they took him away in handcuffs.

[unblock]

2. the real reason they don't go after the ultra-rich is due to the complexity

it takes a lot of irs people a lot of time to unravel a massively complex tax return and then try to prosecute and quite possibly not be able to win because (a) it's complex and hard for a judge/jury to understand and (b) the ultra-rich can afford a team of great lawyers who can stall and so on and make it cost even more. as a result it's a major effort with uncertain outcome.

so as a practical matter, it's just more cost-effective to go after ordinary people.

that's not to say people like trump don't get audited; they do, perhaps statistically more than other as they have more red flags on their returns. but they're just harder for the irs to pursue and the outcomes reflect that.

[Bernardo de La Paz]

3. It's on purpose. Scrap tax deductions; Only direct Govt payments are accountable to the public.

The scandal is that the tax system is rigged to give hidden subsidies to the rich and the corporations.

There should be no tax breaks for anything besides basic citizen breaks, like interest payments on mortgages on primary residences.

Every other monetary aspect of government policy should be handled by direct payments where the benefit is public and accountable.

[font size = "+1"]Hidden tax benefits are a very corrupt cause of the corrosively massive inequality of wealth and income.[/font]

[Trust Buster]

4. The Tale Of Two Right Wing Realities:

TALE #1: An individual acquires a sub-prime loan to buy a house, defaults, loses the house and destroys his credit.

REPUBLICAN RESPONSE: That individual is a deadbeat and the bank was blameless in offering the loan.

TALE #2: Trump acquires billions in loans by way of the corporate equivalent to a sub-prime loan, high interest junk bonds, he defaults, screws his creditors and suppliers by filing for bankruptcies, writes off the losses against his revenue to avoid paying any federal taxes and merrily goes on living a lavish lifestyle.

REPUBLICAN RESPONSE: Trump executed brilliant business strategy within the laws of this great country and should be president.

CONCLUSION: Right wingers are phony to their very core.

ADDENDUM: The intent of the Republicans attacking the IRS and threatening to impeach it's commissioner is much larger in scope than to protect Right wing PACS from blatantly violating SuperPac tax exemption laws. They wish to intimidate the IRS from going after any Republican person of stature. Between now and November 8, the IRS won't go after any well known Republican whose last name begins with a "T'. After November 8, when Republicans fess up to what a loser the failed Trump is, then you might see some action out if the IRS on that front.

[forgotmylogin]

5. He said he's been under audit for 15 years.