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The Democrats on the House Ways and Means Committee loaded their guns and shot their load in the final days they remain in the majority to release six years of tax returns connected to former president Donald J. Trump. It turns out, their guns were loaded with blanks, unlike that of Alec Baldwin.
The committee Republicans condemned this unprecedented move because that's what they do in banana-republics, but the Democrats are as shameless as Whoopi Goldberg at a bar mitzvah.
Dick Neal (D-MA) the committee chairman put most of the blame on the IRS for failing to audit Trump enough when he was president. As hard as the Democrats tried to illegally leak Trump's tax returns [a felony] it took them this long to get their felonious-like wish granted and now the returns are public and this sets a terrible precedent which should, therefore, allow the public to see Joe and Hunter Biden's tax returns. All is fair in love and politics.
Regarding Trump's tax returns, according to expert auditors, his return is incredibly complicated, and that is totally understandable. But in order to show fraud, one needs a full audit, not a mere tax return and that doesn't even show net worth, just tax income or loss in a given year.
Ryan Ellis wrote in the National Review, "[T]ax returns are supposed to be secret, and revealed only voluntarily. Reading tax returns forcibly extracted from any taxpayer made me feel dirty, and a little sad for the integrity of the tax system going forward. But there is no smoking gun here, nothing that will finally “get Trump.” Nonetheless, below is a report of what I found."
Ellis then goes on to describe what he saw: dozens of individual ventures organized as its own LLC such as the "old Trump hotel in D.C., each Trump golf course, etc."
Other revelations show that Trump gave a lot of money to charity, [unlike Joe Biden]. He also loaned money to his children and they paid him back with interest that was rounded off. Terrible--he should go to prison for that and serve a life sentence, unlike Sam Bankman-Fried, who you might imagine will get a legal slap on the wrist because of his huge donations to the Democratic Party.
It turns out that Trump's tax returns easily adds up to over 1,000 pages of annual filed tax returns, not even including the LLCs.
But it's fake news to think that Trump was getting away with paying no taxes.
Ellis explains that from 2015 to 2020, Trump paid federal profit and "other" (e.g. self-employment, household employer, etc.) taxes every single year. In those years, Trump had a cumulative "total tax" of $4.4 million, ranging from $285 thousand in 2017 to a high of $2.1 million in 2018. The best indicator of tax liability, Ellis says, is the "total tax" line, which accounts for federal income tax and "all the things that proxy for federal income tax on a 1040.
Suffice it to say that Trump did not do anything anyone else in a similar situation would not do. Ellis describes him as a man who likes to create new ventures, perhaps make a profit, and then move on to another venture.
To the utter dismay of the Democrats, his returns were not fraudulent. Trump, over the years, created myriad businesses, some of which had lost money, cancelling out those that made profit. The tax burdens all fall upon the shoulders of the business owner. If you think Trump should pay more, than you must also think that a person's business losses should offset his business profits, and that is totally unfair.
So, like the "fine people" hoax and the "drink bleach" hoax, this entire exercise by the party of the jackass was another total fake news hoax.
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