The Trump Tax Returns Controversy: Why They Remain Unreleased

Ever since the 1980s, every major presidential candidate, including Gerald Ford, Ronald Reagan, and George H.W. Bush, has released their tax returns in preparation for their campaigns. Despite this long-standing tradition, Donald Trump has failed to release his own tax returns, raising significant questions among the public and political observers.

Trumponomics and the IRS Audit Excuse

Conservative figures like Letitia James, the New York Attorney General, have described the refusal to release tax returns as part of "The Art of the Steal." This phrase essentially suggests that there’s a dishonest or unethical scheme at play. The excuse of an ongoing IRS audit is widely viewed as a shallow attempt to avoid scrutiny. Historically, when candidates declare an ongoing audit, they eventually release their returns, as seen with President Nixon in his time.

Fear of Tax Accountants and the Likelihood of Discoveries

There is a deep-seated fear among Trump’s supporters and advisors that tax professionals would identify significant discrepancies. Some believe that Trump’s net worth, which he often boasts about, might not be as substantial as he claims. Specifically, calls to question his financial viability have been amplified by the possibility that his true wealth might be far less than the 10 billion he claims. There is a strong belief that Reagan, Nixon, and others have handled similar matters by providing their returns to the tax-writing committees of Congress, thereby avoiding the need for public disclosure.

Historical Patterns and Questionable Claims

Trump’s history of making inflated claims about his financial status is well-documented. For instance, he often claimed large portions of his father’s estate, thereby overstating his personal net worth. Every year, he would raise the value of his assets, even when the real estate market fluctuated. This pattern of increasing his assets’ value has been repeatedly highlighted by legal and financial experts.

Former New York Attorney General Letitia James has been particularly pointed in her critique, hinting that they have a witness who can confirm that Trump ordered the numbers to go in a specific direction, which would be significant if true. This also includes the use of inflated values in Forbes’ ranking, where Trump has been placed on the Forbes 400 list multiple times, often with figures that have been called into question.

Legal Battles and Public Skepticism

Much of the reluctance to release the tax returns has been legally driven. Trump went to court to prevent the release of his returns to the tax-writing committees of Congress, despite a federal law mandating their public disclosure. The rejection of this request in court further bolsters the narrative that he has something to hide.

Given the strong ethical questions raised by his past behavior and legal actions, it is highly unlikely that Trump’s true tax status will ever be fully known without these documents being made public. The public’s acceptance of his claims about his net worth and financial solidity would benefit greatly from transparency and public scrutiny.