So we have had access to Trump's taxes for a few days now.
So far, nothing earth-shattering. We already knew he was a tax cheat (thanks to the recent conviction of the Trump organization for tax fraud). We already knew he is a failed businessman (based on his multiple bankruptcies). And his taxes seem to re-enforce those notions.
Lets take a look at what we have learned:
- A mandatory audit (that all presidential tax returns are subject to) was not initially done, until the returns were actually requested by the committee (and even then they didn't give the required resources to do a proper audit.)
- He had a bank account in China (as another poster pointed out). Yet he had claimed that he had closed that account down before he was elected. Which brings up the question... what was it used for? Did he have some sort of business there that might have influenced his actions?
- Trump paid very little in taxes for the 6 years. Some years had zero taxes, others had $750. About the only 'successful' year that he had was when he sold one of the properties he inherited from his father. This tells us 2 things:
* It points to him being a failed businessman
* It reminds us that he lied in the 2020 election, when he claimed he paid "millions" in taxes
- Very limited charitable donations (and they haven't found evidence of him donating his salary to charity for at least some of the time, like he claimed he was doing)
- He actually paid more in taxes to several foreign countries than he did to the United States
- Trump may have been abusing something called Schedule C. (This involves him making "sole proprietor reports" for businesses with no revenue but high expenses, allowing him to claim a loss to offset his taxes. Trump had been found guilty of tax fraud back in the 1980s for doing the same thing.)
- Other potential areas of tax fraud include claiming personal expenses as business expenses and giving non-repaid 'loans' to his children in order to avoid gift taxes
See:
https://www.independent.co.uk/news/world/americas/us-politics/trump-tax-returns-2020-debate-video-b2253769.html (Trump's lie of paying millions in taxes)
https://www.salon.com/2022/12/28/brazen-cheating-revealed_partner/ (A description of possible tax fraud)
https://news.yahoo.com/foreign-accounts-melania-modelling-no-072853278.html (information about his non-existent charitable deductions, as well as foreign business dealings)