To the editor:
Donald Trump asks us, the citizens of the United States, to elevate him to the position of president for a period of four, possibly eight, years. However, contrary to the practice of every major party candidate for the office since 1976, Trump refuses to let us have a look at his federal income tax returns.
Trump gives as his reason for this refusal the alleged fact that some of his tax returns are still being “audited” by the IRS. This excuse is bogus. The fact that his returns may still be under audit poses no legal impediment to his sharing copies of his returns with whomever he’d like.
Trump claims (ad nauseum) that he is very rich and successful. He claims that his “net worth” is about $13 billion. (Forbes magazine estimates that the true figure is more like $3 billion — quite a difference). Trump claims that his great wealth proves how capable he is — a smart, energetic businessman — he can “Make America great again.” Also, there is the implied suggestion that because of his staggering wealth, Trump is far above and free from any selfish needs or influences.
If Trump is really so rich and successful, he should let us see his actual federal tax returns, filed with the U.S. government, under oath and (in effect) under penalties of perjury. Trust, but verify.
Trump’s son Eric recently stated on CNBC that it would be “foolish” for Trump to release his tax returns: “You would have a bunch of people who know nothing about taxes [i.e. the general public, the voters] trying to look through and trying to come up with assumptions on things they know nothing about.”
In other words, if we, the people, had to look at these tax returns, it would very likely hurt Trump’s chances of getting elected.
James Stewart, a financial columnist, recently (Sept. 2) wrote that because of various tax “loopholes” that are available to real estate developers, “it’s entirely possible, (even likely), that Trump pays little or no federal income tax.”
I would like to know how much income Trump reported on his last five to 10 tax returns, and how much income taxes he paid on it.
I also would like to know: a) what specific issues the IRS has raised; b) has Trump taken outrageously “aggressive” or even fraudulent positions concerning his tax accounting; c) have some of these issues been taken to court, and if so, how have the courts ruled; d) how many years’ returns are still “under audit” and; e) why has it taken so many years to resolve these issues?
As a candidate for the office of president, Trump must disclose his personal finances. We cannot make an informed decision without this information. Trump’s stubborn refusal to open up strongly suggests that the tax returns contain highly relevant negative information relative to his candidacy.
Henry Hammond
Jaffrey