Will Trump Release His Tax Returns Now That the NYTimes Has Secured a Partial Return?
Will Trump Release His Tax Returns: Hell No.
The Latest Developments and Trump's Silence
The New York Times (NYT) has obtained a partial tax return of Donald J. Trump revealing possible zero tax liability from 1995 to 2013. Many are now asking if this will finally prompt Trump to release his full tax returns. However, Trump has no intention of doing so, and his only option right now is to keep the lid on the truth as best as he can. His team will likely prevent the publication of actual returns, aiming to minimize the impact of the news. If they're lucky, the NYT will only be able to publish stories about the contents of the returns without releasing them, diminishing the scandal's effect but still a significant blow to Trump's reputation.
The Complexity of Tax Returns
It's worth noting that many people, including the author of this article, don't fully understand taxes. There was a time, before beginning the process, when the idea of avoiding extensive taxes was not straightforward. However, the form in question (1120 or 1040) significantly impacts the complexity. The 1120 is for corporations, while the 1040 is for individuals. The differences in these forms can make it difficult to avoid large tax liabilities, especially over a long period. Trump's claim of zero tax liability over almost two decades is neither uncommon nor particularly credible, given the complexity of tax laws.
Trump's Historical Stance and the Debate
Trump has always boasted about his business acumen, taking advantage of people. During the first presidential debate between Trump and Hillary Clinton, Clinton pointed out that Trump paid no federal taxes. Trump’s response was, “That makes me smart.” This statement highlights his consistent approach of leveraging his business strategies, including tax strategies, to his advantage. Had Trump understood the implications, he might have reconsidered his stance on tax avoidance.
Historical Precedent and Current Politics
The leak of the partial tax return reminiscent of the Watergate scandal, where the trickle of documents forced Nixon to ultimately face the consequences. While the revelations from the NYTimes may not lead to immediate action from Congress, it does create a significant challenge for Trump moving forward. Currently, our 'do nothing' Congress has no plans to pass legislation compelling presidential candidates to release tax returns during the election cycle. This lack of action, however, may not prevent future scrutiny and demands for transparency.
Conclusion
Despite the partial reveal from the NYTimes, Donald Trump has no intention of releasing his full tax returns. This decision is consistent with his previous behavior and rhetoric. While it may diminish the impact of the latest news, it still represents a significant challenge for Trump and his campaign.