It’s Friday and 114 days until Christmas! It’s also time for our weekly shoot-the-shit topic and with national elections just around the corner we thought we would give our readers some perspective on the question of why Donald Trump won’t release his tax returns.
We have never seen a more inept media and more political swill coming from the Democratic Party than in 2016. One of several things the Clinton Campaign has been attempting to spin is the question of why Trump hasn’t released his tax returns. Here’s our take on the entire situation.
The Clinton Campaign is trying to create a little Kabuki theater around Trump not releasing his tax returns. They are attempting to promote the idea that something must be wrong or he wouldn’t hesitate to release them. It’s a Jedi mind trick at best, but it’s a largely vulgar and offensive attempt at taking advantage of an electorate that has a very limited knowledge of U.S. Tax Code. They’re like rabid dogs trying to get at his tax returns and creating the perception of wrong doing. This is further amplified by a pathetic media that should be asking the Clinton Campaign to detail what they’re looking for or expect to find.
One of the core principals of U.S. Tax Law was settled by Justice Black years ago when he ruled that “tax avoidance” is legal “tax evasion” is not. Tax avoidance is simply the effective utilization of legal tax deductions to achieve the lowest effective tax rate. You as a homeowner are allowed to take every deduction allowable under existing tax code to reduce your tax liability, business owners and corporations spend considerable amounts of money reducing their annual tax bill. It is precisely what managers and responsible business owners should do. So, short of tax irregularities or outright tax evasion, if Donald Trump made $600 million for 2015 and paid $10,000 legally he is within his rights to do so. In fact, he would be a piss poor executive if he didn’t do that. So, what is the Clinton Campaign looking for? Did he pay a small amount of tax? Did he not donate to charities? Apple Inc.’s , Tim Cook, paid the Irish government 1% of the company’s EU revenues, which is in the billions of $USD. The EU has ruled against Apple and the Company now has a $14+ billion tax liability to the EU. Somehow that didn’t deter Hillary Clinton from attending a fund raiser at Tim Cook’s home in San Francisco. So, what’s the deal folks?
Our question to our friends in the “professional” media is why aren’t you asking the Clinton Campaign what are they specifically looking for in Donald J. Trump’s tax returns?
We’re battling the elemental forces of nature but you guys have a great and safe weekend. Spend some time doing the things you enjoy with your friends and family. Remember that as always, all shoot-the-shit rules apply and we welcome your comments.