Tuesday, 25 July, 2017

White House: Trump won't release 2016 tax returns because they're being audited

Protesters attend the Tax Day March in Cambridge Protesters march to demand Trump release tax returns
Melinda Barton | 20 April, 2017, 06:53

Leaving aside his explanation of being under audit, Trump's essential message is: "Read My Lips".

Get free real-time news alerts from the White House Patch. "And a growing roster of more than a dozen Republican lawmakers now say Mr. Trump should release them". The call for nationwide protests to seek Trump's returns was made by the Indivisible Project, an anti-Trump coalition organized by former congressional staffers.

The first pitfall for Trump was the debacle of his health care plan, which burned political capital and precious days off the legislative calendar.

President Trump's refusal to release his tax returns "is emerging as a central hurdle" for his promise of tax reform, The New York Times reports.

ZARROLI: Sheppard says much of Trump's income appears to come from licensing agreements, leasing out his name to sell real estate and luxury goods. "And I would love to do that".

In my community of Evanston, Illinois, we paid our taxes today.

Trump broke with decades of precedent when he declined to release his returns as a candidate for the Oval Office. Then there is the "big, lovely wall" that will cost billions of dollars, that we are told Mexico will pay for, but that we know full well will be our financial responsibility.

Asked if he would release them publicly, Trump said, "we're working on that now".

Trump told CNN's Anderson Cooper that he has a "very complex system of taxes".

He said the bill would allow the public to determine whether candidates have conflicts of interest, and that there is widespread support for this kind of legislation.

But Lee Sheppard, contributing editor at Tax Notes, says there's a lot that won't be in the returns.

The disclosure forms do give wide estimates of asset value. "He promised during the campaign that he would reveal his taxes".

"I've had it for years".

"The president is under audit".

Vice President Pence released the past 10 years of his returns in 2016. "After the audit, no problem!"

But Trump's own taxes have provided crucial leverage for his opponents.

Trump has said he won't release his returns because he is under audit - though nothing in the U.S. tax code prevents him from doing so.

"I don't mind releasing". 'But the President has been very clear throughout the campaign and consistent that he's under a routine audit'.

Reverting to the stance the administration has taken on the president's taxes since the billionaire beat Hillary Clinton out for the Oval Office, Spicer said the American people knew what they were getting when they elected him. "I want to know if Donald Trump is personally profiting from the Keystone pipeline, coal mining or the expansion of private prisons..." "Let's release them. Boys, release the taxes!"

President Trump spent Easter morning defending his decision not to show the American people his tax returns, one day after protesters took to the streets to demand their release. We litigated this all through the election.

Conway clarifies her comments with a tweet: "On taxes, answers (& repeated questions) are same from campaign: POTUS is under audit and will not release until that is completed".

Demonstrators in dozens of US cities and towns, including Washington D.C., New York, Philadelphia, Chicago and Palm Beach, where Trump was spending Easter Weekend at his resort Mar-a-Lago, marched on Saturday to demand Trump release his tax returns.

'I did what was an nearly an impossible thing to do for a Republican-easily won the Electoral College!

NOAH BOOKBINDER: When he has tweeted out the pictures of his tax returns, it's stacks of paper that are inches and maybe feet high.

"We'll have to get back to you on that", White House press secretary Sean Spicer said Tuesday when asked if the White House would declare that the returns would never be public, even after the completion of the audit.