Democrat members of the House Ways and Means Committee recently voted in a party-line vote to make public the Trump tax return documents that the Supreme Court ruled last month he had to hand over to them, saying that doing so was necessary for the sake of transparency.
Predictably, Trump exploded when discussing that release of his private tax returns in an emailed statement to supporters, sayin
The Democrats should have never done it, the Supreme Court should have never approved it, and it’s going to lead to horrible things for so many people. The great USA divide will now grow far worse. The Radical Left Democrats have weaponized everything, but remember, that is a dangerous two-way street! The “Trump” tax returns once again show how proudly successful I have been and how I have been able to use depreciation and various other tax deductions as an incentive for creating thousands of jobs and magnificent structures and enterprises.
Forbes: “Trump’s assets are worth an estimated $4.3 billion…The former president owns real stuff—mansions, golf courses, office buildings—that throw off real cash, even if his tax returns might suggest otherwise…The D.C. hotel opened in 2016 and, by 2018, Trump had already declared tax losses of $55.5 million there, according to the Times. Still, the property is worth something. One investor offered $175 million for it before the coronavirus decimated the hotel industry. The Trumps turned that offer down. Forbes now figures the hotel is worth closer to $168 million.”—Wrong, just sold the Hotel for almost $400 Million. Many of their other numbers are wrong too, but by even bigger proportions. But that’s O.K., being wrong doesn’t matter to the Fake News!
PBS, reporting on the story behind the release of Trump’s tax documents and why that release is important, said:
Democrats in Congress released six years’ worth of former President Donald Trump’s tax returns on Friday, the culmination of a yearslong effort to learn about the finances of a onetime business mogul who broke decades of political norms when he refused to voluntarily release the information as he sought the White House.
The returns, which include redactions of some personal sensitive information such as Social Security and bank account numbers, are from 2015 to 2020. Their release follows a party-line vote in the House Ways and Means Committee last week to make the returns public. Committee Democrats argued that transparency and the rule of law were at stake, while Republicans countered that the release would set a dangerous precedent with regard to the loss of privacy protections.
Trump had refused to release his returns when he ran for president and had waged a legal battle to keep them secret while he was in the White House. But the Supreme Court ruled last month that he had to turn them over to the tax-writing Ways and Means Committee.
The release, just days before Trump’s fellow Republicans retake control of the House from the Democrats, raises the potential of new revelations about Trump’s finances, which have been shrouded in mystery and intrigue since his days as an up-and-coming Manhattan real estate developer in the 1980s. The returns could take on added significance now that Trump has launched a campaign for the White House in 2024.
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