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Vidal

(642 posts)
Tue May 28, 2019, 10:02 AM May 2019

Fox News: Trump Tax Return Strategy Will Backfire

According to a new article on Fox News, recent court cases make it very likely that Donald Trump's strategy to keep his tax returns hidden will not work. What's worse for him, is that his delaying tactics now make it likely that the information he's trying to keep hidden will be revealed in the middle of the 2020 campaign.

The Trump administration is fighting back against the House Democratic push to obtain the president's past tax returns, but two court decisions in recent days indicate it's possible the administration's strategy could backfire.

Recent rulings from two federal courts went against President Trump in his efforts to block subpoenas from financial institutions. If the White House's arguments for withholding Trump's tax returns also fail to convince a judge, an ensuing appeal might only serve to delay the exposure until closer to the 2020 election -- when the president would prefer to talk about other issues.

Michael Stern, a former senior counsel in the House of Representatives' Office of General Counsel, told Politico, "I don't think anyone would say that it's impossible for there to be a final order for him to produce the tax returns by the middle of next year." That would be in the heat of Trump's re-election campaign.

First, Judge Amit Mehta of the D.C. District Court ruled that accounting firm Mazars USA must comply with a House Oversight Committee subpoena for Trump's financial documents. Then Judge Edgardo Ramos of the Southern District of New York ruled similarly regarding the House Financial Services and Intelligence Committees' subpoenas issued to Deutsche Bank and Capital One.


Read More: https://www.foxnews.com/politics/recent-court-decisions-indicate-trump-tax-return-strategy-could-backfire

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lagomorph777

(30,613 posts)
1. For once, I hope Fux is right. But if SCROTUS has the final say,
Tue May 28, 2019, 10:06 AM
May 2019

...I have a bad feeling about ever getting the truth out.

On the other hand, Turd's desperate efforts to hide something are showing the public that he is desperately hiding something BIG. I hope the public eventually pays atention.

sagesnow

(2,820 posts)
2. Thank you for watching Fox New so I dont have to :)
Tue May 28, 2019, 10:30 AM
May 2019

Good to know what their botched minds are thinking.

Freethinker65

(9,828 posts)
3. There will be nothing in his taxes that his voters care about.
Tue May 28, 2019, 10:43 AM
May 2019

Even if Trump is shown to be swimming in debt, taking advantage of every loophole unavailable to the average voter, while getting massive amounts of money from foreign governments and questionable less than Christian businesses and practices, Trump's voters will not care.

Criminally, Trump may be in trouble, but electorally he could survive.

Gothmog

(142,939 posts)
5. I strongly disagree
Tue May 28, 2019, 11:34 AM
May 2019

trump is working hard to hide these returns. Starting in 2005, trump acquired several golf courses and properties for all cash and Eric admitted that Russia was the source of these funds. I am a corporate attorney and I do complex partnerships and LLC deals. I suspect that many of the golf courses that trump claims to own are in effect really owned by others. You will see this on the tax returns by seeing the Percentage Interest or percentage of capital accounts held by the trump entity and the percentage interest owned by other entities (which are likely LLC owned by non-US persons).

trump voters may not care but these returns could explain why trump defers to the Saudis and Putin

renate

(13,776 posts)
12. This is a super interesting possibility
Tue May 28, 2019, 12:21 PM
May 2019

I don’t speak business so I don’t know how to ask what I’m curious about. If it’s an LLC in the USA, do all the owners have to be identified anywhere when a business license is applied for?

(I know that question sounds stupid to anybody who knows how businesses work!)

Gothmog

(142,939 posts)
14. The returns for each entity must list partners and provide K-1 for each member
Tue May 28, 2019, 01:28 PM
May 2019

On the K-1, each member or partner has to be show its percentage interest or share of total capital accounts

PRETZEL

(3,245 posts)
13. Great point,
Tue May 28, 2019, 12:27 PM
May 2019

Also, if I'm not mistaken, isn't most of Trump's revenue generated from licensing fees for these projects?

If so, then is the possibility that he has no stake in ownership of all these properties he claims to be his a bit of a misrepresentation to the public. Not that that's in and of itself a crime, it's just a bullshitter bullshitting.

 

Vidal

(642 posts)
15. I agree with you Gothmog
Tue May 28, 2019, 01:29 PM
May 2019

There is sure to be a lot in there of great interest to the public and to the authorities.

uponit7771

(90,152 posts)
6. Not if he's in jail, I don't see how electorally he could survive. Money laundering is illegal and..
Tue May 28, 2019, 11:52 AM
May 2019

... so is bank and insurance fraud by marking up assets like he's done.

Maddow showed one year he marked up his house nearly 300% in value to get a loan and devalued it next year for taxes.

He's a crook, no doubt.

Celerity

(42,106 posts)
8. The problem is Mueller has baked it into the cake that a sitting POTUS can't be indicted.
Tue May 28, 2019, 12:03 PM
May 2019

He re-affirmed that old DOJ position via his punting on the findings in his report. I honestly think that Rump could go do a border tour and whilst down there order the real-time murder of an undocumented, one who was 'caught in the act' of trying to cross near the Rump caravan, and he would 100% get away with it. Even if was a woman and her children.

Doubt me? Well......



 

Vidal

(642 posts)
16. The key is what happens in the elections
Tue May 28, 2019, 01:31 PM
May 2019

He won't go to jail till he leaves office.

So we need to make sure he's not reelected.

And tax return release could help with that.

uponit7771

(90,152 posts)
17. 2020 will ***NOT*** be more free and fair than 2016 ... NOT AT ALL !!! The only way we can make
Tue May 28, 2019, 03:39 PM
May 2019

... it more free and fair is to totally expose Red Don and the Kremlin KKKlan for working with Russia and like Warren said make it Russia proof cause Red Don doesn't want to.

stopdiggin

(10,916 posts)
10. that's my reading
Tue May 28, 2019, 12:12 PM
May 2019

Strongly agree. Financial lies and chicanery have been plain sight for quite some time (including back to 16 primaries and election, if you cared to look). The electorate has largely responded with a yawn.

machoneman

(3,912 posts)
7. Yes, his delays are pretty dumb...
Tue May 28, 2019, 12:01 PM
May 2019

in that he even now knows he will lose. Actually, releasing them even before the Mueller report came out would have been a smart move. Ah, but Trump and smart are two words that should never be used together!

Besides, the NYS AG's office can use those Federal returns if they don't already have them to determine not if, but how many tax dollars were illegally avoided. That and sham condo sales with kickbacks to the Russkie buyers, his efforts to illegally assist many foreigners in avoiding taxes in their home countries (collusion btw) and countless other charges (bank fraud for overvaluing properties to prop up big $ loans, then tax evasion (state and Fed'l) by undervaluing them at taxation time.

Oh, boy, he'll be in another heap-o-trouble by say January 1, 2020. Gives us lots of time to communicate same even to his most rabid followers.

GoCubsGo

(32,036 posts)
9. Finally coming to the same conclusion everyone else not named "Trump" has.
Tue May 28, 2019, 12:05 PM
May 2019

Better late than never, I guess.

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