I'm not being argumentative for the sake of being argumentative. I'm showing you how people funnel money from illegal activities through legal entities. If laundering is the wrong word, so be it. That doesn't change the fact that it is done. Are you saying that people DON'T take money from illegal activities (e.g major drug dealing) and funnel it through legal entities and report it on their taxes so that it looks legitimate?
I'm saying that when I say people don't put financial crimes in tax returns I'm talking about avoiding taxes. If Trump was laundering money it wouldn't be in his tax returns It wouldn't be in any individual's tax returns so yes I'm saying that's not true as far as people are concerned
Yes the IRS will audit someone if there is reason too. Being President of the United States is a particularly big reason especially if you have a history of questionable financial dealings. to note I’ve personally been audited as has my company. Running a small business where you have resources that get used for both personal and business uses is usually a red flag for audits. My business is a tiny fraction the size of Trump’s and I’ve not been President or in any elected office where I would be very susceptible to corruption and influence peddling. Trump very well should be audited as stated above. Even I’ve been audited. The big difference though besides size and complexity of company is that he was in the most important position of public trust in this country. I find it mind boggling that this would just be dismissed as not being important or witch hunt of Trump.
Honestly I don’t think you understand how this works or why this is so important. Yes money laundering and other financial crimes can be very well identified through tax filings. It can be done two ways: First is how Al Capone was ultimately convicted. By not declaring income that he had on his taxes. The second is by not accounting for income earned and reported in taxes. If my company suddenly declared $2 billion in income but could account for where that income had come from we are going to be flagged for potential money laundering. As is even a small company like mine we have to account for what we bill, what we collect and what we pay out. If we don’t do that we will rightfully get in trouble.
Al Capone was convicted of evading taxes not money laundering. He had a bunch of **** and couldn't account for the money he hadd to pay for it.
@rocketsjudoka My argument is that a president's tax returns shouldn't be made public. People have stated that people have a right to know if he is a crook as if they are going to find something illegal that the IRS couldn't find. As far as your Al Capone example I don't understand what you think i don't understand about Al Capone and tax evasion My point in response to people saying they have a right to know if Trump is a crook is that the IRS already blessed the returns. What do people think they are going to find that the IRS couldn't My point about people not putting illegal transactions in returns is backed by the Capone example situation as as he didn't put his illegal income in his returns. Yes he got caught for evading taxes but that doesn't dispute anything I've stated.
Five red flags in Trump's tax returns, MAMMOTH BUSINESS LOSSES: In 2016, for example, when he paid just $750 in federal income taxes, he reported $30 million in earnings but also $60 million in losses. MINGLING EXPENSES There are multiple instances in which Trump may be improperly deducting money spent on personal activities and hobbies as business expenses. LOANs TO HIS CHILDREN Trump reported receiving hundreds of thousands of dollars in interest payments on loans he gave Ivanka Trump, Donald Trump, Jr. and Eric Trump. This appears to be a scam to avoid paying gift tax, which is ~ 40%. Calling that money a loan would avoid the gift tax while also allowing his children to deduct from their own taxes the interest they paid him. LAND CONSERVATION Trump had claimed a $21 million deduction in 2015 for a conservation easement at his Seven Springs estate in Westchester County, New York. New York Attorney General Letitia James is now challenging this same conservation easement valuation in court, alleging Trump and his business “manipulated the appraisals to inflate the value of the donated development rights” at Seven Springs and another property. this deduction appears to be inflated. FOREIGN TAXES: while he paid a very small amount in taxes to the US treasury, he claimed a foreign tax credit for paying $1.3 million to other governments. Are these tax credits legitimate? the IRS can verify/cross check with tax agencies of countries to whom Trump had claimed tax payments
You can’t help yourself can’t you? Gotta throw some insults around. I was responding to the OP throwing insults around at a couple of posters who disagreed with his post. Everyone here is behaving except for you and him. You both are kind of mentally unstable!
Except the act of not listing income in your tax returns is illegal activity. That is the definition of tax evasion. Also this is the crux of the argument. You’re saying that the IRS are the only ones who should know what is in someone’s tax returns the problem is that this person has been and is running for the highest office in the land. How are voters to know if that person is actually trustworthy and not financially compromised without seeing their tax returns? You are basically just asking to be willfully ignorant and just take a person who has been and will be entrusted with massive power and state secrets on their word.
From the IRS website. The IRS Mission Provide America's taxpayers top quality service by helping them understand and meet their tax responsibilities and enforce the law with integrity and fairness to all. If the IRS is doing what it says it does then why do you need others looking at a candidate's tax returns?
thru sleight-of-hand, PGab is pretending that Trump was not a POTUS Trump was POTUS for 4 years, as such, like every POTUS since 1977, his tax returns (during his years in office) are subject to IRS's policy of Presidential audit.
I have never said the IRS shouldn't audit his returns. For the umpteenth time including the post you responded to, I'm talking about making them public
this links are from April 2016, which enable the public to download the tax returns of then-POTUS Obama and VPOTUS Biden. Download the Obamas' tax returns here. Download the Bidens' tax returns here. when they were made available to the public, PGab was silent. now that POTUS Trump's tax returns are made public, PGab is crying foul, also, the tax returns of Pence, Trump's VP, were made public every year his was in office; PGab was silent as well.
I wasn't posting in 2016. Obama didn't make an issue about his returns being public. If he did I would have supported him. If he was fine with it I don't care. I don't think it's public information, I don't care if it's the president. That being said Obama's return represents one of the issues I have about all the uproar about Trump's defiance. Most candidates are public officials. Obama's return is all government income. This only has become a big deal since Trump wanted his income to be private. I know Trump brags about his financial success and even runs on it but I still think information that isn't public, any candidate or office holder. People have been the right to not vote for them but our tax returns are personal information
Being president is a privilege, not a right. There are so many employers who won't hire you until they see your social media accounts and your credit score. You aren't entitled to a profession or job. If a job requires public disclosure of assets and investments because the job is holding public office and making decisions that effect the public and therefore people want to make sure the person seeking the job doesn't have conflict of interest, that is a normal desire. We can make it a legal requirement for a candidate to release their returns to the public and that wouldn't violate any rights because again, being president isn't a right.
What job requires you to make your tax returns public for the entire globe? I'm talking about making that info public. Your credit score is a different issue and the job still isn't making it public The IRS is already checking everyone's tax returns.
They especially check the tax returns of a top 1 percenter https://en.wikipedia.org/wiki/Tax_returns_of_Donald_Trump There is no law requiring public disclosure of tax information for presidents or presidential candidates, but all major-party candidates and all presidents have done so since underpayment of taxes by Richard Nixon was revealed in a leak.
