Showing posts with label Donald Trump Tax Returns. Show all posts
Showing posts with label Donald Trump Tax Returns. Show all posts
Sunday, April 16, 2017
Thousands at US rallies demand Trump release tax returns
NEW YORK/WASHINGTON - Tens of thousands of people marched through midtown Manhattan and dozens of US cities on Saturday to demand that President Donald Trump release his tax returns and to dispute his claim that the public does not care about the issue.
Organizers of "Tax March" in more than 150 cities across the country and beyond wanted to call attention to Trump's refusal to disclose his tax history, as his White House predecessors have done for more than 40 years.
The marches coincide with the traditional April 15 deadline for US federal tax returns, though the filing date was pushed backed two days this year.
There were no reports of violence or arrests, in contrast to a clash between Trump supporters and opponents that erupted at a rally in Berkeley, California, where nine people were arrested.
Two of the biggest tax marches took place in New York and Los Angeles, with each drawing about 5,000 people, according to estimates by Reuters reporters. No official estimates were immediately available.
In Manhattan, a good-natured crowd rallied at Bryant Park before marching up Sixth Avenue to Central Park.
Among the marchers was an oversized inflatable rooster, sporting an angry expression and a sweeping metallic orange hairdo meant to resemble Trump's signature style.
“Thanks to Trump, I think that releasing your taxes when you run for president now has to be a law,” said New Yorker Marni Halasa, 51, who arrived in a tutu and leggings made of fake dollar bills and holding a sign that read “Show Me The Money!”
In Washington, more than 1,500 protesters gathered on the front lawn of the US Capitol, where members of Congress addressed the crowd before it marched to the Lincoln Memorial.
"We are taking the gloves off to say knock off the secrecy Mr. President," said Senator Ron Wyden of Oregon, the ranking Democrat on the Senate Finance Committee, which would play a leading role in tax reform measures being considered in Congress.
He described Trump's refusal to release his taxes as being "like a teenager trying to hide a lousy report card."
TAX REFORM
Among the marchers was Melinda Colwell, 34, a stay-at-home-mother from Ledyard, Connecticut. She said she was concerned that conflicts of interest in Trump's tax returns might foreshadow selfish interests in his tax reform policies.
"I think it's important to know how that could influence his decisions and how he could benefit from the decisions being made," she said.
As a candidate and as president, Trump has refused to release his tax returns, citing an ongoing audit by the Internal Revenue Service. The IRS has said that Trump can release his tax returns even while under audit.
The White House could not be reached immediately for comment on the marches.
Events were also planned in cities in Europe, Japan and New Zealand.
The marches were launched by a single tweet, organizers said. A day after the massive Jan. 21 women's march in Washington and other cities, comedy writer Frank Lesser tapped out on Twitter, "Trump claims no one cares about his taxes. The next mass protest should be on Tax Day to prove him wrong." It has been retweeted more than 21,000 times.
In Los Angeles, television director Mike Stutz turned up at the march dressed in costume as a Russian general and said he was called General Bullshitski. He carried a sign that read: "What Tax Returns? Putin paid cash. Trust your oligarchs," referring to allegations of contacts between Trump's campaign and Russia, led by President Vladimir Putin.
Joe Dinkin, spokesman for the Working Families Party, one of the groups organizing the marches, said investigations into the Trump campaign's alleged connections to Russia underscore the need to disclose his returns.
"Without seeing his taxes, we'll never really know who he's working for," said Dinkin, who expects the marches to draw at least 100,000 protesters.
There have been some glimpses into Trump's tax history. Last month, MSNBC host Rachel Maddow reported on two pages of Trump's 2005 return that were obtained by investigative reporter David Cay Johnston and released by DCReport.org. They showed Trump paid $38 million in taxes on more than $150 million in income.
And in October, The New York Times reported that Trump had declared a $916 million loss on his 1995 federal tax return, citing three pages of documents from the return.
(Additional reporting by Dana Feldman in Los Angeles and Peter Szekely in New York; Editing by Cynthia Osterman and Alistair Bell)
source: news.abs-cbn.com
Monday, October 3, 2016
Trump's tax writeoff shows his 'genius' at business, advisers say
WASHINGTON - Donald Trump's decision to take a $916 million loss on his 1995 income tax return showed his business acumen and "genius" at figuring out how to minimize his tax bill, two of the Republican presidential candidate's advisers said on Sunday.
"This is a perfectly legal application of the tax code. And he would have been fool not to take advantage of it," said Rudy Giuliani, the former New York mayor who is one of Trump's advisers.
Speaking on the ABC program "This Week," Giuliani said that as a business owner, Trump has a "fiduciary duty" to the investors in his real estate company to maximize profits.
Giuliani compared Trump's ability to come back from the nearly $1-billion loss to turnarounds made by Apple co-founder Steve Jobs and Winston Churchill, the former British prime minister who led the United Kingdom through World War Two.
"It shows what a genius he is. It shows he was able to preserve his enterprise, and then he was able to build it," Giuliani said on CNN's "State of the Union."
The New York Times reported on Saturday that it had obtained Trump's 1995 tax records and it quoted experts as saying that the $916 million loss he reported for that year may have allowed him to avoid paying federal income taxes for up to 18 years.
Susanne Craig, one of the Times reporters who was bylined on the story about Trump's tax records, said the tax documents arrived in a manila envelope in her mailbox at the Times with a return address of the Trump Organization.
She said a lawyer for Trump had threatened the newspaper with legal action if it decided to publish the documents.
The tax benefits outlined in the documents stemmed from financial deals Trump made that went bad in the early 1990s.
The Trump campaign, in a statement on Saturday, said the tax document was obtained illegally and accused the New York Times of operating as an extension of the presidential campaign of Hillary Clinton, Trump's rival in the Nov. 8 election.
"I know our complex tax laws better than anyone who has ever run for president and am the only one who can fix them. #failing@nytimes," Trump wrote on Twitter on Sunday.
Chris Christie, the New Jersey governor and head of Trump's presidential transition team, said that Trump's records showed that the U.S. tax code was an "absolute mess" and that Trump was the best person to fix it.
"There's no one who has shown more genius in their way to maneuver about the tax code as he rightfully used the laws to do that," Christie said on "Fox News Sunday."
But Clinton spokesman Brian Fallon said the tax writeoff "shows the colossal scale of his business failures" and that the wealthy real estate developer operates under a different set of rules than ordinary taxpayers.
Clinton has repeatedly called on Trump to release his tax returns, as is standard procedure for modern presidential candidates.
Trump has declined to release his tax records, saying he will not do so until an audit of his returns by the Internal Revenue Service is complete.
The IRS has said that an audit does not bar an individual from sharing their own tax information.
(Additional reporting by Susan Cornwell and Lindsay Dunsmuir; Editing by Caren Bohan and Nick Zieminski)
source: www.abs-cbnnews.com
Monday, August 3, 2015
Trump coy on releasing tax returns
WASHINGTON, United States - Billionaire Republican presidential hopeful Donald Trump said Sunday he tries to pay as little tax as possible, and kept Americans in suspense as to whether he will release his tax returns.
That disclosure is a staple for American presidential candidates. Democratic front-runner Hillary Clinton did so on Friday, making public the returns of her and husband Bill for the past seven years. Over the years the duo have released their tax returns going back to the 1970s.
Trump, the brash, trash-talking real estate mogul leading the crowded pack of Republican hopefuls as they prepare for their first debate this week, did the rounds of US morning talk shows again Sunday. He was on three of them.
Among other things, he said President Barack Obama, the nation's first African-American president, has done little for blacks in America.
"I thought he would do a fabulous job for the African-American citizens of this country. He has done nothing. They are worse now than just about ever," Trump said on ABC's "This Week".
On national security, when asked if he would bring back the practice of interrogating terror suspects with waterboarding, Trump said he is sure the torture technique works.
"When you see the other side chopping off heads, waterboarding doesn't sound very severe," added Trump.
Clinton jab
On money and taxes, Trump said on CBS' "Face the Nation" that as a businessman, and like every other American, he tries to pay as little as possible.
Another reason is that "I hate the way our government spends our taxes. I hate the way they waste our money."
Trump, who has said he is worth more than $10 billion, told CBS he has "no major problem" with disclosing his tax returns.
He added, though, "I may tie them to a release of Hillary's emails."
This was an allusion to Clinton's use of a private server and email account while she was serving as secretary of state under Obama.
Clinton has turned over 55,000 pages of emails, which the government has now started to study and release, at least those not considered confidential.
A new poll again showed the power of Trump at this point in the campaign for next year's presidential election.
The NBC News/Wall Street Journal survey said he is the first choice among 19 percent of Republicans polled, followed by Wisconsin governor Scott Walker with 15 percent, and former Florida governor Jeb Bush at 14 percent. But the poll had a margin of error of six percentage points.
Trump will almost certainly be the center of attention of at Thursday's televised debate among the top 10 Republican hopefuls in Cleveland, Ohio. A total of 17 are running for the nomination.
Some of Trump's adversaries say he is a mere flash in the pan and will not last.
Trump was coy when asked if he would run as an independent if he does not do well in the party primaries. Such a breakaway candidacy would presumably draw votes away from the Republicans and pose a nightmare for them.
"If I'm treated fairly by the Republican Party, I would have no interest in doing that," he told ABC.
"If I'm not treated fairly by the Republican Party, I very well might consider that. And I would certainly not give that up."
source: www.abs-cbnnews.com
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