I have no idea what’s in President Trump’s tax returns, but I would be willing to bet the following things are true:
First, Trump’s tax returns have been regularly audited. When he claims he is under audit, there is no reason to doubt that he is telling the truth. It’s a safe bet that a billionaire’s taxes are audited regularly by the IRS. It is also a safe bet that if they ever found something serious, he would have been charged with tax evasion. Since he has not, it’s a safe bet he has done nothing illegal.
Second, it’s a safe bet that Trump doesn’t do his own taxes, nor does he have them done at H&R Block. Call me crazy, but I would bet that he has a team of accountants and tax attorneys who prepare his return on his behalf. And I would bet that they take full advantage of all tax credits, deductions, write-offs, depreciation, and other legal means used regularly by millions of other tax filers.
Third, considering the behavior of Obama’s IRS employees and their hatred for conservatives, it would come as a complete shock if they found something salacious in his tax returns and were able to keep it a secret. It would be illegal for them to disclose such information, but it is also illegal to target groups for their political beliefs, keep classified information on an unclassified system, leak confidential information to the press, present false information to a FISA, etc. When the self-appointed guardians of truth and justice do it, it’s okay because they’re Leftists. Rules and laws don’t apply to them.
There is no law requiring any elected federal official make their private tax returns public. There is nothing in the Constitution requiring it. There is a Fourth Amendment, but that pesky little thing won’t stop Democrats in their quest to smear Trump. In case you forgot, or graduated from school in the last 20 years, or have a degree from Boston University and represent New York’s 14th Congressional District, the Fourth Amendment states, “The right of the people to be secure in their persons, houses, papers, and effects, against unreasonable searches and seizures, shall not be violated …”.
In other words, Trump’s tax returns are none of the Democrats’ business. And by the way, the Fourth Amendment also makes it illegal to be spied upon by government agents without extreme justification.
Anyone who has two brain cells that can be rubbed together to create a spark should be able to figure out why are Democrats want to see Trump’s tax returns and it has nothing to do with “oversight.” They want to smear Trump and demonize the rich. It’s safe to assume that Trump at some point wrote off some serious losses and/or used depreciation to get his taxes down to a more reasonable amount, or even zero. He likely even carried forward losses over one or more years.
I can hear the Democrats screaming, “He made millions and didn’t pay any taxes!” That claim would replace phrases like “Russia collusion!” “Obstruction!” and “Trump Tower!” Democrats are too stupid to understand that there is a difference between gross and net income, profit and loss, revenue and expenses.
Trump should tell the Democrats, the media and people like Jay Lustgarten that he will release his tax returns not on the day Hell freezes over but on the day after Hell freezes over.