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Old May 10th, 2019, 06:45 PM   #1
hayley2003
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Default Should it be a law to release tax returns if running for President?

Why, or why, not?

And how many total years, 1,3,5,10, more?

I was reading on the internet, that if there had been a law requiring a candidate for president to release tax returns, Donald Trump would never have run for president.
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Old May 10th, 2019, 07:42 PM   #2
ShineintheDark
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Default Re: Should it be a law to release tax returns if running for President?

It's already sort of a formality that most candidates do anyway to prove to the public that they're being transparent and don;t have any *explicit* financial interests (mot get massive bribes through campaign donations anyways). Trump refusing to do so, whilst perfectly legal, very much broke the etiquette of candidacy and that's why it's become such a major thing. That said, forcing people to release tax returns enters the realm of complex exceptions: you;d inevitably have o think of every possible case where releasing would not be wise and then have them written into the law so it;s easier to keep it as an extra-legal formality.

That said, I don;t think Trump refused because of major financial interests - everyone already knew how much the Trump Foundation was set to gain from his presidency even without tax returns providing further information. Instead, I'm pretty sure it was for the opposite reason: he spent so much time bragging about his great wealth that he's apparently accumulated and added to on top of his inheritance and I bet in truth a lot of it's been squandered on his string of failed financial ventures. Is he still a billionaire? Very likely. Is he the massively loaded titan of business that he brags about being? Na. If his base gets wind of the fact that he's a pretty mediocre business man who's declared multiple bankruptcies, it diminishes his claims of being the great negotiator that America needs.
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Old May 10th, 2019, 10:16 PM   #3
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Default Re: Should it be a law to release tax returns if running for President?

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Originally Posted by ShineintheDark View Post
It's already sort of a formality that most candidates do anyway to prove to the public that they're being transparent and don;t have any *explicit* financial interests (mot get massive bribes through campaign donations anyways). Trump refusing to do so, whilst perfectly legal, very much broke the etiquette of candidacy and that's why it's become such a major thing. That said, forcing people to release tax returns enters the realm of complex exceptions: you;d inevitably have o think of every possible case where releasing would not be wise and then have them written into the law so it;s easier to keep it as an extra-legal formality.

That said, I don;t think Trump refused because of major financial interests - everyone already knew how much the Trump Foundation was set to gain from his presidency even without tax returns providing further information. Instead, I'm pretty sure it was for the opposite reason: he spent so much time bragging about his great wealth that he's apparently accumulated and added to on top of his inheritance and I bet in truth a lot of it's been squandered on his string of failed financial ventures. Is he still a billionaire? Very likely. Is he the massively loaded titan of business that he brags about being? Na. If his base gets wind of the fact that he's a pretty mediocre business man who's declared multiple bankruptcies, it diminishes his claims of being the great negotiator that America needs.
I am not saying a candidate should, or shouldn't, release their taxes. But a law requiring them would provide evidence of how well they managed their personal money, and people don't have to have faith that they are being told the truth.

Trump clearly misled a lot people about his personal wealth, and probably has a long history of doing so in how he conducted private business. In recent news, it is being reported Trump has lost more money than he has made. Doesn't seem right that he allowed to lie about that kind of thing, leaving up to voters to decided if he is telling the truth or not.

Kinda like if a candidate had a criminal record, but hypothetically criminal records were not made public unless the criminal authorized it. Of course most candidates would release that information because they had nothing more than a few parking tickets. But if a candidate refused to release his criminal record, with the caveat that he would release them "some day soon", voters would have to make a choice to trust him or not.... In the case of Trump, it is clear he never ever ever will release his tax returns willingly. He will launch nuclear weapons before he agrees to release his returns.
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Old May 11th, 2019, 05:14 AM   #4
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Default Re: Should it be a law to release tax returns if running for President?

Yes, especially if your last name is Trump. He's cleary hiding something.
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Old May 11th, 2019, 11:28 AM   #5
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Default Re: Should it be a law to release tax returns if running for President?

Your tax information should always be private unless the government has a legitimate reason for seeing it. If the government can pry into your tax information, what is next? Your medical records too? Where does it stop? The government has to have reasonable proof of wrongdoings to get your taxes information. The public doesn't have the right to know how much taxes anyone pays. How would all Senators, Members of Congress, and other government politicians would feel if their tax information were made public for everyone to see. I'm sure that all of them would object to that. Your taxes are private information.

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Old May 11th, 2019, 11:50 AM   #6
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Default Re: Should it be a law to release tax returns if running for President?

Someone's tax returns can say a lot about that person. If you look at a guy like Bernie Sanders who we discovered is a millionaire and he's not using any loopholes or schemes to pay less taxes than he should. Added to that the fact he's campaigning on raising taxes on himself. It says a lot about the guy, and how honest he is. Going back to Trump if he release his tax returns we will most likely find that he's not a billionaire, not declaring how much money he's really making, and barely pays any taxes if any. The thing with Trump is his supporter won't care about that, it won't change anything. We're talking about a guy who we know sexually assaulted at least 16 women, payed porn stars to shut up about his affairs, started a fake university, used is charity to enrich himself, etc. They don't care about any of this, Trump is God to them. They see anything negative about him as fake news.

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Your tax information should always be private unless the government has a legitimate reason for seeing it. If the government can pry into your tax information, what is next? Your medical records too? Where does it stop? The government has to have reasonable proof of wrongdoings to get your taxes information. The public doesn't have the right to know how much taxes anyone pays. How would all Senators, Members of Congress, and other government politicians would feel if their tax information were made public for everyone to see. I'm sure that all of them would object to that. Your taxes are private information.
We know most of those politicians are corrupted, I'm no expert in the US tax code but they would have to declare those briberies and from where they came. It would be interesting to see the effect of such laws on the massive corruption of almost every US politicians.

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Old May 12th, 2019, 12:55 PM   #7
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Default Re: Should it be a law to release tax returns if running for President?

if we are going to use a tax return to base how fit an individual is for a job congress and state officials are the bigger threat

i figure if Trump or anyone else making or losing big bucks needs to be investigated that is the IRS' job not mine

so in my opinion making a law about showing your tax returns is just another useless law on the books that won't actually change anything so why bother with the time, money and effort there are much bigger fish to fry in the legal world
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Old May 14th, 2019, 05:30 PM   #8
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Default Re: Should it be a law to release tax returns if running for President?

Would it really change anything? I mean bribery is essentially legal with the whole campaign funds, foundations and lobbying. If you release or do not release the tax returns, if you're getting into that house, you have to be corrupt as fuck anyway.

You might call it lobbying and campaign investment, I call it bribery and purchase of services.

I mean many politicians are known to change stances towards some third parties when donations to their canpaign funds or foundation accounts appear.

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Old May 16th, 2019, 04:13 AM   #9
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Default Re: Should it be a law to release tax returns if running for President?

people vote to decide the president. It’s just not necessary to make another law on this.
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Old May 16th, 2019, 02:49 PM   #10
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Default Re: Should it be a law to release tax returns if running for President?

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people vote to decide the president. Its just not necessary to make another law on this.
The few thousands people who's vote actually matter should have as much information as possible available to them for they vote.

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There is no such thing as liberal or conservative media, the only thing the media cares about is either money or the truth.
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Old May 16th, 2019, 03:16 PM   #11
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Default Re: Should it be a law to release tax returns if running for President?

I don't see why. The Consistution provide some basic guidelines for the Presidency, as long as candidates achieve those basic requirements they should be valid contenders.

What's more worrying is state governments deciding who can and can't be on a ballot via requirements not defined in the Constitution. Imagine if states in 2015 made a law saying all professional emails from the last 5 years must be made public. How would Libs appreciate it if Trump won simply because of a law like that? California doing this isn't a big deal by itself, Trump won't win it regardless, but it does set a dangerous precedent.
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Old May 17th, 2019, 12:11 AM   #12
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Default Re: Should it be a law to release tax returns if running for President?

Nah thatd be dumb



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Old May 17th, 2019, 03:14 PM   #13
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Default Re: Should it be a law to release tax returns if running for President?

I don’t see the harm in such a law, especially given that the wealthy elite tend to rise to positions of power that effect the rest of us.


Laws promoting financial transparency and educational discussion of tax law and finance is really something society needs more of.

It’s probably one area of my K-12 schooling that I think was really rushed in my senior year of high school.

Had my parents not raised me around basic finance and math when I was like first learning how to count $, I would be so dumb about it now.


Every year after age 6 my parents made me understand what tax season was by taking me along and that definitely helped understand the importance of how $$ and influence corrupt as not everyone has the same morals despite verbal “promises/lies”..


10 years of tax returns, especially disclosure of foreign business dealings and monetary transfers and assets of value (art, collectibles, real estate, or even intangible assets like patents or business rights of distribution or intellectual property) (given business is international these days) might be pertinent, to an election candidate’s ethos as a person for a higher office.

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Old May 17th, 2019, 05:53 PM   #14
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Default Re: Should it be a law to release tax returns if running for President?

I think so, it goes to integrity
With Trump he’s all about money and ego
He has been caught out lying about how rich he is before
If his tax returns showed the truth wasn’t what he said, I think that’s important
He’s too dishonest
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Old May 17th, 2019, 07:20 PM   #15
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Default Re: Should it be a law to release tax returns if running for President?

In the UK as far as I'm aware it's required but law for MPs to declare any vested interests they have in bills being debated and are expected to recuse themselves from voting (in case you're concerned about that skewing party numbers, they also have a 'partner' system of someone from the other side buddying up and also not voting if you can't due to maternity leave, recusing yourself or other common grounds)> I think that's something all governments desperately need to prevent major corruption within policy writing.
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Old May 18th, 2019, 09:15 PM   #16
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Default Re: Should it be a law to release tax returns if running for President?

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Originally Posted by ShineintheDark View Post
In the UK as far as I'm aware it's required but law for MPs to declare any vested interests they have in bills being debated and are expected to recuse themselves from voting (in case you're concerned about that skewing party numbers, they also have a 'partner' system of someone from the other side buddying up and also not voting if you can't due to maternity leave, recusing yourself or other common grounds)> I think that's something all governments desperately need to prevent major corruption within policy writing.
I'm pretty sure there is a conflict of interest law like that in the US too. I guess they just don't enforce it, because then there would be like 4 people in the entire US congress and senate that would be allowed to vote.

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Old Yesterday, 11:45 PM   #17
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Default Re: Should it be a law to release tax returns if running for President?

Why should such a law only apply for the president? Why shouldn't there be a law requiring members of the House and Senate, as well as Supreme Court Justices, all candidates running for federal public offices and all senior government officials to release the last 10 years of their income tax returns? Hades would freeze over before Congress ever passed any law requiring them to show their tax returns. They are no different than the president.

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