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  1. #1
    Senior Member JohnDoe2's Avatar
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    Trump: Won't release tax returns before November, won't take public financing

    Trump: Won't release tax returns before November, won't take public financing

    Published May 11, 2016 FoxNews.com

    NOW PLAYINGDonald Trump talks West Virginia, Nebraska wins
    Donald Trump, in an extensive interview Tuesday, said he does not intend to release his tax returns before the November election -- and ruled out accepting public money to finance his campaign for the White House.

    Speaking to the Associated Press, Trump cited an ongoing audit of his finances as the reason he does not expect to release his returns before November, but said he will release them after the audit is completed.


    "There's nothing to learn from them," he said, adding that he doesn’t think the voters are interested.


    He also ruled out taking public financing for his White House campaign. Doing so would have saved him the task of raising vast sums, but would also limit how much money he could spend fighting the Democratic nominee. He called public financing “inappropriate.”


    "I don't like the idea of taking taxpayer money to run a campaign. I think it's inappropriate," he said.


    The billionaire also said he wasn’t interested in spending a lot of money on data operations to identify potential voters and to model turnout scenarios. He called Obama’s data operation “overrated” and said he instead wants to rely on the large rallies that have helped him essentially lock down the Republican nomination.


    2016 Election Headquarters


    The latest headlines on the 2016 elections from the biggest name in politics.See Latest Coverage →



    "My best investment is my rallies," Trump said. "The people go home, they tell their friends they loved it. It's been good."

    In terms of naming his running mate, Trump told Fox News Wednesday that he has narrowed his list down to five or six people but has not yet made a choice. He added that he intends to hold off announcing his choice until the convention in Cleveland in July.


    “I think that’s traditionally the way it’s done. I like tradition and I think suspense is a good thing,” Trump said. He has previously said he is looking for someone with congressional ties who can help get bills passed through Congress.


    He also mocked a number of politicians who have stated publicly they would not be interested in being his running mate.


    "I do get a kick out of all of these people saying they’ve decided not to do it, they weren’t on the list.

    None of them. Everybody who talks about being vice president, they’ve decided not do it, they weren’t on the list,” Trump said. “But that’s okay, what difference does that make, let them have fun.”


    Trump is due to travel to Washington Thursday for meetings with top Republican leaders, including House Speaker Paul Ryan, who has so far declined to endorse the billionaire.

    http://www.foxnews.com/politics/2016...financing.html

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  2. #2
    Senior Member JohnDoe2's Avatar
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    NO AMNESTY

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  3. #3
    Senior Member JohnDoe2's Avatar
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    Why won’t Trump release his tax returns? Here are a few possible reasons.
    By Greg Sargent May 11 at 3:25 PM

    Donald Trump does not expect to release his tax returns before the November election, the Associate Press informs us today. He told the AP that he doesn’t believe voters are interested, adding: “There’s nothing to learn from them.”

    Define “nothing.”

    In an interview with me, Joseph Thorndike, the director of the Tax History Project, identified the problem here. It’s the juxtaposition of Trump’s blithe insistence that there is nothing to be learned from his tax returns — and his refusal to release them — with the revelations about just how complicated those returns are.


    Trump himself helpfully demonstrated the complexity of his returns for the world to see, when he tweeted this photo of himself:


    This was apparently meant to show (in keeping with Trump’s well documented modesty and restraint) how rich he is, but it also illustrates why not releasing his returns could prove politically untenable over time. “It’s disconcerting that someone who acknowledges how complicated his tax returns are refuses to release them,” Thorndike tells me.


    Thorndike and a second expert I spoke with today — Robert Willens, an independent tax consultant and professor at Columbia Business School — offered several reasons why Trump might be refraining from releasing them.


    First, it’s possible that Trump wants to obscure his charitable giving patterns. “If he isn’t doing much charitable giving, that’s relevant, and potentially could have an impact,” Thorndike notes. “He has claimed he is a very generous philanthropist. The tax returns would demonstrate whether or not that’s actually true.”


    The second possible reason is that Trump may have lots of money parked overseas, and if so, this would come out in the returns. “If you have foreign accounts, you have to disclose them and check boxes confirming you have them,” Willens tells me. “It could be embarrassing.”


    Will Donald Trump ever release his tax returns?



    Trump, of course, has cheerfully admitted he has long been one of those elites who milks the system to their advantage. Indeed, he has pointed to this as an argument for electing him president.

    He has openly boasted that he has bought and paid for politicians himself, so no one knows how to end the problem of bought-and-paid-for politicians better than he does, dammit! Trump is going to use his financial wizardry, and his inside knowledge of how elites scam the system, to put an end to that elite scamming and make America as rich as he is. As Trump has put it: “I’ve always been greedy. I love money, right? But you know what? I want to be greedy for our country.”


    So Trump might respond to revelations about parking money abroad by saying: Damn right I milked the system to my advantage, and got filthy rich doing it. Now I’ll make sure people like me can’t get away with it anymore.


    But at a certain point, this might no longer work.

    Trump has said that in his first 100 days as president, he’d get on the phone and browbeat CEOs into bringing jobs back to America. But if it comes out that Trump has money placed abroad, would he then pledge to bring it back? If not, Willens says, “that certainly dilutes your message.”


    Third, these experts note, it’s possible that Trump’s returns might reveal that he isn’t quite as rich as he likes to claim he is.
    “I’m leaning towards the idea that he’s income poor but asset rich,” Willens says. “The tax returns wouldn’t convey that. They would only convey the shortage of income without conveying the other side of the coin, his real estate holdings.”

    If there is one thing we know about Trump at this point, it is that he values being seen as a winner above all else. Trump may believe that if he is perceived as a loser (relative to his self-inflating boasts, that is), it could dramatically undercut what he believes is a winning argument for the presidency — i.e., that he is the greatest winner ever, and therefore can make America a bigger winner than it’s ever been before.


    Whatever the motive here, what Trump is doing may be unprecedented in one important respect.

    The tradition of presidential candidates releasing their tax returns dates back to Richard Nixon. As Philip Bump documents today, Nixon released his tax returns while president, even though he was under audit. Thus, Trump — who had previously said he would not release his returns until an ongoing audit is complete, and is now suggesting he may not release them at all — is not even willing to do what Nixon did.


    Worse, as Thorndike points out, Trump may well decline to release them, even though he is likely to have far more complex returns than Nixon did.

    “It’s disturbing,” Thorndike says. “Complexity can hide a multitude of sins. There’s going to be a lot going on in those returns, even if it is all legitimate. But we have no way of knowing whether it’s legitimate unless we can actually see them.”


    Of course, Trump has broken a whole string of political rules during this campaign, so maybe he’ll get away with this one, too. But it’s more likely that, as more and more details come out about his business past, this position will prove increasingly unsustainable.

    https://www.washingtonpost.com/blogs...sible-reasons/

    Last edited by JohnDoe2; 05-11-2016 at 08:51 PM.
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  4. #4
    MW
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    Any person running for the highest office in the country should fully expect to be vetted in every aspect of his or her life. That vetting would include personal, financial, .... or whatever.

    "The only thing necessary for the triumph of evil is for good men to do nothing" ** Edmund Burke**

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