Donald Trump is refusing to release his tax returns. He claims that it is because he is being audited by the IRS, but that argument doesn’t hold a drop of water. First of all, Trump has plenty of older tax returns that are not being audited, and he refuses to release those too. And second, there is nothing wrong with releasing a tax return while it is under audit. In fact, Richard Nixon did so in 1973.
Donald Trump is the first major presidential candidate to not release his tax returns in 40 years. Given that Trump is not shy and talks about his private life all the time, it is obvious that his tax returns must contain a bombshell of epic proportions.
Electoral vote speculates on some of the possibilities:
- He’s paying a very low effective tax rate
- He’s using trickery of various sorts to (legally) game the tax system
- He’s not as wealthy as he claims to be
- He’s not giving much (or anything) to charity
- He’s been giving money to Democratic candidates
Unless proven otherwise, we can only assume that all of these are true. In fact, an editor of Bloomberg News has seen Trump’s tax returns, and while he legally cannot reveal what he saw, he strongly hints that there are multiple bombshells in them. At the very least, we already know that Trump routinely lies about how wealthy he is.
UPDATE: For several years, Trump has been receiving a deduction from New York State that is only available to people who make $500,000 or less. So, does this mean that Trump is cheating on his taxes, or does he really make that little, given that he claims to be “really rich”? What’s really ironic is that the tax break was worth a measly $302, and he had to apply for it.