"I HAVE NOTHING TO HIDE". So sayeth the Dondon. AND YET he hasn't released his tax returns! WHY NOT? WHAT IS HE NOT HIDING?

Well there is solid proof that he overstated the value of his property to get bank loans. THAT IS BANK FRAUD, a felony. There is solid proof that he understated his income to reduce the amount of taxes he owes his country. I believe the IRS looks very dimly on that. Thank you for your reply L and Happy Friday.

Where is that solid proof? From a statement from convicted liar Cohen?

I believe it was more than Cohen's statement.  I'm pretty sure there were copies of the balance sheets provided to the Committee.  

:):):)

Value for a bank loan is determined by the bank appointed appraiser. No bank takes the debtor's word for the value of an asset. 
For income tax purposes it would be based on purchase/cost of the asset. 
For local/state taxes the Clerk values the asset based on their system. Most times that is way below market value. 

One of the criteria for making a loan is the ability of the borrower to pay it back.  If he was inflating his assets in order to entice the bank to make the loan, that's fraud, especially if he was then devaluing the value of his assets to avoid paying taxes.  If you or I did that, we'd find ourselves in orange jumpsuits behind bars.  How in heaven't name can you make so many excuses for someone who is literally stealing from you - and every other tax payer?

Again, the City Accessor is in charge of the value of asset accessed. Not the individual. 

You do not pay income tax on assets.  So there is no deflating value for income taxes. 

If a bank is considering an asset a part of a loan will not simply take a debtors valuation of an asset. They will require an appraisal. The appraisal will be by an appraiser they approve and most likely appointed. The debtor does not value their own property. 

The question is whether or not the statute of limitations has run on any of these irregularities.  If it did, he gets away with it, but I wouldn't doubt that this kind of thing is ongoing.

I shall never understand why there is a statute of limitations on any crime at all L. I think there is none on murder but what about other crimes, felonies? Thank you for your reply!  :)

I suppose that, with the exception of murder, if prosecutors can't prove the crime within a period of time, there is not sufficient evidence to convict.  Not all statutes of limitation are the same length.  The worse the crime, the longer the statute.

DNA is good for decades. Folks have been charged and convicted of murder 35 years later due to DNA! I know sometimes witnesses die but I don't understand why evidence disappears. I dunno L. The vics never get justice. The perps walk away and live a life and get away with if they wait long enough. How is that fair? Thank you for your reply! :)

Yes, DNA is good for decades as long as it's preserved properly.  Evidence disappears because of carelessness and negligence.  It can also disappear if there's a flood or fire.  

 I wonder how much "disappears" due to evidence tampering? Maybe I've seen too many "bad cop" movies. Thank you for your reply and Happy Monday! :)

 

I guess there's really no way of knowing how much disappears.  Happy Monday. :)

Very true!

That is ILLOGICAL. If there is nothing to hide. If the tax returns are all in order...there is nothing that can be used to attack the filer m2c. If you have nothing to hide you hide nothing. I do not relate to the way your mind works although I do realize it is always skewed to justify whatever he does/doesn't do. If you are honest you prove it by releasing your tax returns. If you are not you don't. There is no middle ground there LOGICALLY no matter how much you try to convince yourself there is. Ever it shall be thus! :( This post was edited by RosieG at March 31, 2019 8:24 AM MDT

When a rich person shows their 1040. All you hear is their tax rate was this % and their secretary's tax rate was this % and how that is unfair. 

"If you have nothing to hide, you hide nothing": how do you apply that to Pres Obama who had all of his college records sealed? What is he hiding? (Yes, Trump told this schools not to leak his....but they are not actually sealed as Obama's are.) This post was edited by my2cents at March 31, 2019 9:40 AM MDT

Why do you not think it's unfair for someone who supposedly earns millions of dollars to pay a lower tax rate than his secretary?  And why, for the love of all that is holy, do you always have to bring up what Obama, Clinton or anyone else has done in the past?  Obama produced his tax returns.  Clinton produced her tax returns, so why has Trump refused?  

We do not have a flat tax rate system. If that is what we want then we should tell Congress to pass it. I don't believe most people want that. Most pay nothing. I paid nothing for decades. 

Out tax system is used to encourage people to do things the gov wants us to do. ie. Buy a home, buy stocks, donate to charities, buy more environmentally friendly products, create jobs, buy depreciable assets, etc. 

If the rich person is doing these things, why shouldn't they get that better tax deduction?

I bring up Obama because it applied to the question. If it is withheld then something is being hidden? So what is Obama hidding about his schooling. (I do not care...but what is good for the Dem is good for the Rep) This post was edited by my2cents at March 31, 2019 9:28 AM MDT

If you don't earn anything, then you don't pay taxes.  No, we don't have flat tax rates, but if you earn billions of dollars, your tax rate should be higher than a person who earns $75,000.  

I'm not sure where you get the idea that our tax system is used to encourage people to do those things.  You do those things when you can afford to buy then or do them, not because the government wants you to.  If that was the case, then the government shouldn't tax anyone earning under $1 million so that we can afford to buy.

Surely you aren't foolish enough to equate Obama not divulging his school grades with Trump not divulging his tax returns.  Nothing in Obama's school grades would show a possible conflict of interest or possibly affect national security.  The same can't be said for Trump's returns.

There are tax breaks and even bonus depreciation for some things.  I know this from doing my own taxes. I am not in a position to take advantage of most of them.

Don't believe the gov uses tax code to cause influence/force what people to buy things...what was the Obamacare fine then?

The only way to take the game out of tax code is to make it a straight flat tax for everyone.  But that will never happen. People like getting their refunds. And most even think they actually paid that much in...lol.

As far as the Obama/Trump neither has choose to divulging their grades. So Apples to Apples for once.   As I said if I had money and was running for office I would never give out my tax returns.  

Why should people who earn millions of dollars be able to take advantage of loopholes and tax credits when the average person can't?  They need the deductions less than the average person, so why the double standard?  You think that's fair?  I don't.  

I'll tell you something else.  Trump's "tax cut" did nothing for me.  I earned about the same as I did the year before and I got a refund for 2017.  For 2018, I owed more than $3700!  That's after claiming -0- for withholding - so please don't talk to me about tax refunds.