#taxwriteoffs

The Untrumpables & the bookkeeper

The NY Times has Donald Trump’s tax returns from 1985-1994. So what? He made losses 25-30 years ago. He obviously made some terrible business decisions to rack up $1.17bn in losses over a decade. Yet the laws allowed him to do so. Two years ago, MSNBC’s Rachel Maddow hailed she had Trump’s 2005 tax return that showed he paid $38m tax on $150m income. So he has had some good with the bad.

Because the mainstream media and the Democrats couldn’t pin Russia collusion on him, they want to see if they can get him on tax evasion. Sounds like the accountant in the Treasury Department trying to bust Al Capone in The Untouchables. The Democrats want to make Trump talk with a gun in his mouth. Many Democrat-run states have passed legislation to ban Trump from the 2020 ballot if he doesn’t release his tax returns. CM has mentioned numerous times how this typifies the level to which Democrats think they are just in rejecting the democratic rights of their constituents.  Surely American voters can decide for themselves whether his tax returns are an important enough issue for them.

The question really boils down to whether he has “evaded” tax or “avoided” it? If he used the tax laws to minimise his ultimate tax liabilities then all power to him. In the immortal words of Australian billionaire, Kerry Packer, “if anybody in this country doesn’t minimise their tax they want their heads read. Because as a government I can tell you, you’re not spending it that well that we should be donating extra!

Truth be told, banks continued to lend to him despite having the highest tax losses of any American and he wound up in the highest office in the land. Even if his most recent tax returns show massive losses, if he hasn’t broken the law then what will House Democrats have gained?

Put it this way. The mainstream media might wish to point to the failures of Trump as a good reason to question his judgement. They might mock him by saying he benefitted from Daddy’s money. However, America has the lowest unemployment rate in decades, historic low black and female unemployment and 5.8m unemployed to fill 7m job openings. If individuals feel America is in a better place than when he started, one can be sure that he will be sworn in again in 2020.

When will the Democrats finally realise that putting forward sensible policies to convince the American public they are worthy of government is a more effective method than pushing more and more Trump Derangement Syndrome?