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Trump’s Tax Filings Do Not Reveal What Democrats Had Hoped For
Lots of pages have been filled with rumors about President Trump's income tax filings. The Democrats had hoped that they would reveal criminal behavior or at least prove that Russia had illegitimate influence over him:
Trump says his tax returns reveal nothing that is not already disclosed on his official candidate financial disclosure, called Form 278e. As ethics counsels to the past two presidents, we dealt with both their tax filings and their Form 278's and so we know that Trump is wrong. His tax filings have an enormous amount of additional information which, in this case, could be critically important to determining whether his business overseas might affect his decision-making as president. That is because Trump’s 12,000-page tax return may tell us a great deal about his Russian and other foreign business ties that is not on his 104-page campaign financial disclosure. It’s now more vital than ever that we get that information in light of Trump's embrace of Russian hacking, leaking and interference in our election.
Now the New York Times has obtained Trump's tax filings. It has made a huge splash out of them.
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The story starts with this:
Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.
He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.
However, down in paragraph 78(!) it reports:
Mr. Trump was periodically required to pay a parallel income tax called the alternative minimum tax, created as a tripwire to prevent wealthy people from using huge deductions, including business losses, to entirely wipe out their tax liabilities.
Mr. Trump paid alternative minimum tax in seven years between 2000 and 2017 — a total of $24.3 million, excluding refunds he received after filing.
Reading the details of the 11,000(!) words story one finds that it is largely a bummer for the 'resistance', not so much for Trump.
It essentially says:
- Trump is a quite rich international real estate investor.
- U.S. tax laws allow investors to minimize their reported income by claiming various kinds of deprecations and other gimmicks.
- Tax regulations that allows investors to carry forward leftover losses to reduce taxes in future years are especially helpful.
- Trump has good accountants and tax lawyers and has used the laws to their full extent to minimize his tax payments.
Is any of the above something we did not already knew?
What the Times story does NOT say is:
- Trump's tax record reveal that he did something illegal.
The paper had surely hoped for more. It must have been especially bitter for its authors to write this paragraph:
By their very nature, the filings will leave many questions unanswered, many questioners unfulfilled. They comprise information that Mr. Trump has disclosed to the I.R.S., not the findings of an independent financial examination. They report that Mr. Trump owns hundreds of millions of dollars in valuable assets, but they do not reveal his true wealth. Nor do they reveal any previously unreported connections to Russia.
This is a dud. It is certainly not the campaign ammunition the Democrats had hoped for.
The essential corruption of US tax laws is by: Mark Thomason @ 61 mr. Thomason.. the tax laws were installed in the same month as the Federal Reserve Act, both 1919.. why, it dates back to 1787, when the constitution was written, the wealthy few refused to allow the states they lived in to tax their estates..to fund the USA before the USA that was formed by the constitution came into play. Before 1788, the USA operated under the Articles of Confederation and was a different government all together. Thing was, most of the landed real estate owners refused to pay their fair share of the taxes on landed estates that had been given to them by foreign governments, the massive monster estates were called land grants; and the Aristocrats in America were granted private ownership of these estates, by foreign governments.
The American Revolutionary Government[ARG], called the USA, operated under the Articles of Confederation (not the Constitution of the USA).. The ARG defeated the British, the ARG organized America, the ARG hired the richest man they could find, George Washington to be the General of the Army, and it was that Army that defeated the British at Valley forge..
The first president of the United States of America was John Hanson, 1781, .. there were 7 Presidents in all, before George Washington,
The Constitution came into being because the wealthy land grant feudal lords, ex British and French Aristocrats did not want the 1st United States of America to take away the land grant estates that foreign kings and queens had given these rich owners. No sir the land grant owners wanted to keep that wealth and the power that went with it.. So they over threw the ARG, known as the United States of America, by a devise known as ratification. Article VII of their 1987 constitution and used that constitution to install a government that suited Aristocrats, land grant owners, and their corporations.
Hidden deep in the 1787 Constitution is the clause which made sure the land grant owners would be able to keep their foreign grants (massive sized estates)? Besides using the Constitution 1787 to exterminate democracy in America, the land grant owners used it to keep their land grant. Article VI accomplished keeping large parts of America in foreign hands. It reads “All Debts contracted and Engagements entered into, before the Adoption of this (the 1787) constitution, shall be valid against the United States under this Constitution, as under the Confederation..” This clause explains how the Land grant Barons (British now America Aristocrats) managed to keep in their private ownership millions of Acres given to them by foreign governments; this clause kept the ARG from distributing those land grant acres to the warriors who helped George Washington at Valley Forge. ..
Next came the bankers war.. called the America Civil War, and because A. Lincoln, issued currency without including the bankers, he was murdered, and every year until 1912, the Supreme Court of the USA refused to change Article I, Sec. 9, paragraph 4, of the 1787 constitution which read “no Capitation, or other direct, Tax shall be laid, Unless in proportion to the Census .. ” this mean the income tax you are familiar with was unconstitutional until in 1913, when in desperation the WWI war party, forced the the twenty-sixth amendment into ratification, to reverse every word in the Article I, Sec. 9, paragraph 4 (above). These events the American Civil War, Assassination of Lincoln [<=because Lincoln funded the civil war without benefit of the bankers], the Federal Reserve Act of 1913, the income tax act of 1913, and the 26th amendment of 1913, were important to the oil bandits and private bankers who wanted the oil under the Ottoman land. There would be no profit in lending to bankrupt European nations and war industries, if the loans were not repaid. The 1913 acts solved the repayment problem < it made Americans (by the income tax) guarantors of all war time loans made by private bankers.
so "Oligarchs, land Barons, and intangible property rights owners don't have to pay tax" because the income tax is an an elaborate scheme designed to finance the wealth of the rich by extracting the savings and earnings from the pockets of the masses. Importantly, the Oligarchs franchise the nation states to groups of oligarchs and their corporations and the franchisees keep the bankers plush with local franchise laws.
Posted by: snake | Sep 28 2020 22:48 utc | 64
Folks, you guys are all right and wrong.. the worst candidate is little if any better than the best candidate.. The problem is not the candidate, or those who support the candidate, the object of every election is to divide the voters, after all none of the votes for President count. The controllers of the two party system win every election, no matter the promises of the corrupt to change things.
The problem is the 256 nation state system divides 8 billion humans into 256 different governing people separating, faction polarizing franchises. Each franchise is different, but generally,typically the owners divide their franchises into separate smaller independently managed cells (the USA calls cells<= states, counties, and cities) and each franchise owner develops a system of governance that allows to the franchise owner to continuously keep divided those the franchise governs (guns/no guns; abortion/no abortion; socialism/capitalism, religion/no religion, etc <=these binaries keep the governed humanity separated and reduce the power of the masses below that needed to deny managerial corruption and out and out organized crime. .. Those privileged few, who franchise governments, leave organization and governance to the franchise owners, but each is expected to arrange to earn his or her reward by being able to rob blind those who are the governed. You at the bar are among the guilty governed.
Until humanity defines requirements sufficient for the governed to maintain control over the system and to hold those who govern accountable for their failings and wrongdoings, nothing significant is going to change. Even revolution will yield no different result.
Until humanity demands the right to and actually gains un infringed total access to the operation of the entire system and until that demand results in audits by the governed of lawmakers, government bureaucrats, military and contractors, and affairs of the rest of government nothing is going to change. Those who franchise the 256 governments expect those who franchise owners to derive franchise ownership reward from corruption. Humanity must force into place, a system that supports the needs, wants, and demands of governed mankind, and a system that makes sure no one person gets too far ahead. We humans are all in this life together and society is obligated to be sure everyone gets a fair portion of the goodies.
The private monsters, as in the MSM, the MIC, the bankers, the lawyers, the educators, the Indians, the corporations, the whatevers will survive as superior only so long as they control the parts of the government that affect their affairs. It is absurd that a population of humans, claiming to be proud of its democracy and right of self determination, allows itself to be governed by a constitution that presents a bunch of lousy corrupt leaders in false flag elections to be responsible to the needs of the governed. No government that allows its leaders to hide their affairs or to conduct their activities in classified secret fashion is rational. Unconscionable is a governed population that would allow its leaders to harass put whistle blowers and journalist like Assange in jail for exposing the crimes and failures of those who operate the government .. The joke is on you. Those who govern this USA franchise, govern, because you allow it..
My time at the bar is now about three years, and I have not heard but a few people even interested in changing things, all you want to do is drink the suds, and talk about the corruption, shoot at the owner, and after a few drinks to start fights among yourselves over whether or not the cow is brown or black. Shame on you..
Posted by: snake | Sep 29 2020 10:42 utc | 97
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