What’s The Deal With Trump’s Tax Returns?
Apparently, the US Congress needs a primer on taxes. Thankfully I’m here to help them out. To begin with let’s take a look at the one tax return from President Trump that is public.
What exactly does that tell you? Trump was pretty rich back then too, but the actual return has little to no information about sources of income, interest payment sources, or who he owes or who owes him.
Two Types of Returns
When you reach the income level of Donald Trump you have two tax returns. Your personal tax return which says zilch — other than your “taxable” income.
Notice that taxable is in quotes. The reason is that all income is not taxable. There are deductions and allowances that reduce your total income.
This is your Adjusted Gross Income.
The other return is your corporate tax return. A separate one for each company you own. For example, if you’re Proctor and Gamble you may have many brands under that one name and an individual return would be prepared for each division as its own individual corporation.
Not to mention that all public companies issue an annual report to stockholders and the Securities and Exchange Commission as to how much they made and how much in taxes they paid.
Big Mac Tax Returns
Since the president serves Big Macs and Whoppers to sports teams when they visit the White House then using congressional thinking, we need McDonald’s tax returns in order to find out just exactly who paid for the Fast Food.
What if Trump wears a Brooks Brothers suit? Shouldn’t we examine their returns to make sure the suits were purchased by Trump and not taxpayers?
Are the clouds beginning to part for you yet?
Do You Really Want To Go Down This Road?
Those who are really out to get Trump — Maxine Waters, Elijah Cummings, Gerald Nadler, and Adam Schiff — are sure that some kind of “forensic” audit will surely find that Trump is the crook they assume he is.
Perhaps congress doesn’t realize that the President has to produce all sources of income each year he is in office before his name can be placed on any ballot.
Some Final Thoughts
The current front runner on the Democrat Party is Bernie Sanders (VT-I) running as a Democrat. Bernie has three homes.
If we could only see one of his tax returns.
Please tell me where the money to maintain three homes comes from by looking at Bernie’s tax return.
And they’re filing jointly. Oh, and they got a $4,172 tax refund.
As you can see tax returns are not the answer unless you have every single scrap of paper associated with the preparation of that return.
In Trump’s case that would be several 18 wheelers full of receipts for all the businesses he owns and/or properties he has interest in.
If you see any red flags in any of the links please let me know so I can alert the Justice Department. Inquiring minds want to follow the money.
You can reach the KMMS Morning Soapbox with Tom and Shane by calling 406-522-8255 during the show, use our new text line at 406-478-8298, or click the “Message Us” button on your AM 1450 KMMS app.
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