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csziggy

(34,189 posts)
30. I keep remembering that the tradition of presidential candidates relaesing tax returns
Wed Dec 14, 2016, 02:33 PM
Dec 2016

Started because Richard Nixon did illegal things on his tax returns.

Nixon's Failed Effort to Withhold His Tax Returns

Aug 2, 2016 3:04 PM EDT
By Stephen Mihm

<SNIP>

But then things unraveled. The best account of Nixon’s tax travails comes from the historian Joseph Thorndike. Thanks to a deposition in a civil suit connected to the Watergate burglary in 1973, reporters learned that Nixon had taken a rather unusual tax break in 1969.

How unusual? The Washington Post determined that he had deeded his vice-presidential papers to the National Archives and taken a charitable deduction of around $500,000. Amazingly, such practices had been legal until 1969: Presidents and vice presidents donated their public papers and took a write-off. But that year, Congress closed the loophole.

<SNIP>

In 1970, Nixon proceeded to donate his papers, but ordered Morgan to backdate the deed of gift to March 27, 1969, before the law made it illegal for him to take the deduction.

But this wasn’t known at the time. In 1973, however, as the Watergate scandal put a spotlight on the secretive president, tax experts called for the IRS to audit Nixon. The agency refused. Then in early October, an employee at an IRS service center in West Virginia leaked information about Nixon’s tax returns showing that the president had only paid $792.81 in federal income taxes in 1970 and $878.03 in 1971, but reported income in excess of $200,000. The explanation, of course, was the fishy charitable donation.

More: https://www.bloomberg.com/view/articles/2016-08-02/nixon-s-failed-effort-to-withhold-his-tax-returns


When he tried to deny any problems Nixon said, “People have got to know whether or not their president is a crook. Well, I am not a crook.”

Maybe history will repeat itself and some employee of the IRS will leak Trump's returns. Unfortunately, history would repeat in that it will be too late to prevent Trump's election. Let's hope this time it will be in time to prevent Trump's re-election!

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What with his "conflict of interest" businesses AND the Russian connection whathehell Dec 2016 #1
Why won't our Dem leaders scream about this? SHRED Dec 2016 #2
mystery to me as well.... dhill926 Dec 2016 #3
I don't know...Maybe they're getting one ready? whathehell Dec 2016 #6
I'm feeling very disappointed in our Dem "leaders." cwydro Dec 2016 #7
If they did, would any media hear them? lake loon Dec 2016 #14
Are tax returns something the press can get under FOIA? Takket Dec 2016 #9
No. onenote Dec 2016 #13
I don't know, but that IS an excellent question.. whathehell Dec 2016 #18
No, but I wouldn't bet against The Company getting copies. mnhtnbb Dec 2016 #20
He will remain arrogantly duplicitous...because you know, he is Guilded Lilly Dec 2016 #4
Bingo - I can't get past this either. Baffling. NRaleighLiberal Dec 2016 #5
Me too -- and our so-called "liberal media" has been playing along with Trump's grotesque anneboleyn Dec 2016 #17
Yes, he does. And he will do it with impunity. MineralMan Dec 2016 #8
Like MM said, when trump said in debate "because I'm smart", voters loved him more because they Sunlei Dec 2016 #22
I keep remembering that the tradition of presidential candidates relaesing tax returns csziggy Dec 2016 #30
Yes. I remember that, too, very well. MineralMan Dec 2016 #34
We're going to have a short fingered vulgarian in the Oval Office csziggy Dec 2016 #38
I'm very afraid you are correct. MineralMan Dec 2016 #40
At least for the last few weeks I've had a distraction csziggy Dec 2016 #44
Yeah. Bunch of crap going on in my life right now, too. MineralMan Dec 2016 #45
The Supreme Court is what will truly screw us for a generation csziggy Dec 2016 #48
He won't release them JustAnotherGen Dec 2016 #10
The GOP are giving cover on this issue. Wellstone ruled Dec 2016 #11
It's not mandatory yeoman6987 Dec 2016 #12
Damn, I guess we should just give up then, eh yeoman6987? Kingofalldems Dec 2016 #15
I don't think anyone's suggesting any such thing. MineralMan Dec 2016 #31
I responded to him based on other posts as well, not just one. Kingofalldems Dec 2016 #32
Hmm...well, without knowledge of those other posts, MineralMan Dec 2016 #35
Search just today. Kingofalldems Dec 2016 #37
But that didn't answer the question dumbcat Dec 2016 #47
He is broke, 500mil to China, 300mil to Russia and 2x wives. CK_John Dec 2016 #16
I know Generator Dec 2016 #19
Republicans know-never pays any income taxes & personal expense a tax free charity, just like them. Sunlei Dec 2016 #21
Donnie F. Trump (With apologies to Robert Hunter and Jerry Garcia) Jacob Boehme Dec 2016 #23
Creative...I like it SHRED Dec 2016 #24
He's not going to release his tax returns. kentuck Dec 2016 #25
It looks like he can do anything doc03 Dec 2016 #26
is it because bdamomma Dec 2016 #27
This is the thing everyone avoids discussing... Moostache Dec 2016 #29
It is a sign of the times - blue blooded plutocrat refuses to divulge tax returns. Rex Dec 2016 #28
the electors NEED to SEE his taxes 1st. no vote if they don't or its NOT RUMP. pansypoo53219 Dec 2016 #33
Have any electors said that? MineralMan Dec 2016 #39
I don't get it either. BigDemVoter Dec 2016 #36
trump voters dont care AlexSFCA Dec 2016 #41
The country had the nerve to elect a black President and then run a woman for the job so.... TeamPooka Dec 2016 #42
under the circumstances, it's FUCKING INSANITY Fast Walker 52 Dec 2016 #43
Brainwashed people can not think rationally kimbutgar Dec 2016 #46
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