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Political discussion involving past and present political events, candidates and elections. Please read Msg #1 before posting.


Re: Maybe Congress doesn
Posted by MikeC/TX of TX on 5/9/19 6:52pm Msg #72461
Some of them do. The whole point of the hoo-hah is that Trump was the first Presidential candidate in over 40 years who refused to release his returns. He said he would after the "audit" was over, and he then refused to do so after being elected, arguing that the issue had "already been litigated". By who? You said you were going to do something, and you didn't. Where was the litigation?

Every sitting President in the past 40 years has also been audited each tax year, and every one of them has released his tax returns that year - except for Trump. So the argument is not about what the members of Congress are doing - it's about what the President is doing.

The NY bill, which is expected to become law very shortly, will authorize the release of any NY resident's state tax returns - which contain most of the information on the Federal returns - to three Congressional committees in response to a valid request. I believe the committees are Judiciary, Finance, and Oversight.

But now Trump has done something incredibly stupid. In his inability to keep his mouth shut, he has given the House what they needed to support their subpoena. Mnuchin said that he would not comply because Congress had "no valid reason" to see the returns. It now has.

The NY Times published an article yesterday, documenting the facts that Trump's tax returns over 10 years in the '80s and '90s showed that he lost over $1Billion on paper. Trump stupidly tweeted today that these were non-monetary losses passed through tax shelters and that he considered this type of tax evasion to be "sport". So, in effect, he admitted he was gaming the system in a way the IRS doesn't allow.

So now, the House Oversight Committee - which has oversight of the IRS - has a "valid reason" to review the audits of Trump's returns to verify that the IRS acted properly, Even if Mnuchin continues to resist a valid subpoena, NY is waiting in the wings.

Trump has become so convinced that he is above the law that he will do stupid things like this, thinking that no one can touch him and make him accountable. Nixon though the same thing, and we know how that turned out.
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Messages in this Thread
 Maybe Congress doesn't need Mnuchin's help - MikeC/TX on 5/8/19 5:29pm
 Re: Maybe Congress doesn - shooterclay on 5/8/19 7:55pm
 Re: Maybe Congress doesn - MikeC/TX on 5/9/19 6:52pm
 Re: Maybe Congress doesn - shooterclay on 5/9/19 7:29pm
 Re: Maybe Congress doesn - MikeC/TX on 5/11/19 5:29pm
 Re: Maybe Congress doesn - bagger on 5/10/19 9:11am
 Re: Maybe Congress doesn - MikeC/TX on 5/11/19 6:25pm
 Re: Maybe Congress doesn - bagger on 5/10/19 3:21am
 Re: Maybe Congress doesn - MikeC/TX on 5/11/19 7:07pm
 Re: Maybe Congress doesn - bagger on 5/12/19 7:23am
 Re: Maybe Congress doesn - MikeC/TX on 5/13/19 5:45pm
 Re: Maybe Congress doesn - bagger on 5/14/19 7:31am
 Re: Maybe Congress doesn - MikeC/TX on 5/14/19 5:15pm
 Re: Maybe Congress doesn - shooterclay on 5/14/19 3:25pm
 Re: Maybe Congress doesn - MikeC/TX on 5/14/19 5:16pm
 Re: Maybe Congress doesn - shooterclay on 5/15/19 3:24pm



 
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