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Friday, January 27, 2023

In the United States, Trump’s tax returns have (finally) been made public

first Amendment: Last change:

A commission from the United States Congress made public Donald Trump’s tax returns this Friday, December 30, after a long legal battle by the former president to keep his finances private. It is home to thousands of pages and data relating to the taxes of the former president, his wife and children as well as family businesses. In 2020 Trump paid zero taxes for example.

From RFI’s New York correspondent Lubna Anaki

The documents made public cover a period of six financial years, between 2015 and 2020. Remember, Donald Trump was President from January 20, 2017 to January 20, 2021. Some of the details had already been leaked, but these documents show, for example, that the former president paid just over a million dollars in taxes during his presidency between 2018 and 2019.

The commission’s report included an analysis of data from each of Trump’s six tax returns. Non-Party Joint Commission on Taxation (JCT), In the JCT’s findings, there are relevant contradictions: it paid $750 in 2017, but nothing in 2020. And it is this “nothing” that interests the experts.

It shows that the billionaire has declared huge losses, which is contrary to the image of a successful businessman that he presents. It was also made public that although Trump had pledged to donate all of his presidential salary to charity, he preferred to keep it all for himself in 2020.

a diary check new York Times It showed that Trump had reported huge net operating losses, which allowed him to carry forward and apply in future tax years, greatly reducing or eliminating his annual income tax.

For example, the JCT report states that Trump claimed $105 million in losses on his 2015 tax return, $73 million in 2016, $45 million in 2017 and $23 million in 2018.

Trump, who is preparing for another run for the White House in 2024, had not made his tax returns public, raising many questions about their contents, unlike all of his predecessors since the 1970s.

But in mid-December, a parliamentary committee voted to release the Republican billionaire’s tax returns.

For three years, this group of legislators had been demanding documents sent by Trump to the Treasury during that period, which the former president refused. Finally, in late November the Supreme Court ruled in his favor.

Trump, 76, strongly condemned the decision in a written statement sent to CBS on Friday.

“The ‘Trump’ tax return shows once again how proudly I have been successful and how I have been able to use depreciation and other tax deductions as an incentive to create thousands of jobs and wonderful structures and businesses.”

The publication represents a fresh blow to the former White House tenant, who has already been the subject of endless scrutiny over the management of his files as well as his financial affairs in New York.

his family business, the trump organizationThe conviction came in early December of financial and tax fraud following a trial held in New York in which the former Republican president was not prosecuted.

Trump’s finances have always been of great interest to the public, both because of the way he went about keeping them secret and because of his lavish lifestyle as a real estate mogul before becoming president.

Tax returns can show how much you donate to charity, whether you have business overseas or other conflicts of interest, and how your business has been affected by your presidency and the duration of the pandemic.

The Trump family business conglomerate was convicted of tax fraud earlier this month in what Manhattan District Attorney Alvin Bragg said was “about greed and deceit”.

Trump himself was not charged, but the Trump Organization and another entity were convicted of running a scheme to defraud and evade taxes by falsifying business records.

From Richard Nixon to Trump’s predecessor, Barack Obama, every US president has released his full tax return, except for Gerald Ford, who provided his summary.

(with AFP)

World Nation News Desk
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