More Secrecy, Anyone?

It was reported in the New York Times that US President Donald Trump paid just US$750 in federal income taxes in 2016 (the year he won the election). The POTUS paid no income taxes at all in 10 of the previous 15 years because he reported “losing much more money than he made”. Trump is now in a bind. Either (a) he’s a terrible businessman who hemorrhages money and thus owes no taxes, or (b) he’s a deceitful very wealthy man who uses shady methods to shield his riches from
taxation.

When I research and study tax law & policy, I saw one fine line – Most of the important criteria are usually things that can’t be seen! The “ very people that would pass legislation are the same people who don’t want any transparency when it comes to how they made their money and how they plan on growing that money”. Not that “making money” is a bad thing but, in the case of politicians, they’d rather the public didn’t know just how wealthy they really are or how they, like Mr. Trump, use loop holes they created to protect and enhance power and privilege. For greater riches once connections are made by quid pro quos, not to mention cushy benefits for “public servants” paid for by the public. As long as men and women see government as a way to enrich themselves, the pigs will gorge themselves at the public trough (my apologies to pigs).

Remember, they work for us, not the other way around. So, when WE THE PEOPLE say JUMP, they must ask “How high?!” It’s We The People who tell them what to do, Country first and We The People first NOT party.

For what it’s worth, in Norway everyone’s tax returns are public records. Just google a Norwegian’s name, and his or her tax return will be one of the first items that pops up. I can’t see that ever happening in most countries, but Norway seems to stay functional and prosperous, with this high level of transparency. (The newspapers also cover the tax returns of leading political and public figures when the tax returns are posted — front page news in all the dailies and the lead story in all broadcast news.)

It’s scary that politicians feel we should simply trust that they are honorable people. If politicians are honorable people they should be proud to meet a simple standard of releasing their tax returns. There should be nothing to hide if they are honorable people. It seems prima facie evidence of something to hide if a politician refuses to provide his tax returns to the public from whom he seeks public office. If you seek the goodwill of the people, show goodwill to the people.

 

SojoüRner

 

 

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7 Responses to “More Secrecy, Anyone?”

  • xoxo:

    Even the wife’s PRIVATE SECTOR salary is STATE SECRET?

    HOW COME?
    I dont know where our $100 Billion goes to .
    I n so many others got only $600???

    Can i return the PEANUTS ($600) and get NO INCREASE IN GST FOR NEXT 10 YEARS?

    $$100 BILLION WILL CAUSE HEAVY TAX BURDEN ON ME EVEN IF WE GOT ONLY $600 WHILST FTs/PRs take BIGLY SUMS AND GO HOME?
    FTs/PRs will not have to shoulder HIGHER TAXES ONCE THEY TAKE THE MONEY N LEAVE SINKINGPORE?

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  • TumasikPatriot:

    I thought CNBC revealed a tax return of Trump amounting to Millions and gleefully waving it???…hmmmm

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  • TumasikPatriot:

    TumasikPatriot:
    I thought CNBC revealed a tax return of Trump amounting to Millions and gleefully waving it???…hmmmm

    Sorry, tax return on MSNBC was for the year 2005 $38 million…must have lost a few big deals thereafter to claim Tax Rebate…all businessman DOES that if you don’t you are an IDIOT or Santa Clause

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  • Tranparency:

    Transparency breed trust…

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  • SojoüRner:

    TumasikPatriot: Sorry, tax return on MSNBC was for the year 2005 $38 million…must have lost a few big deals thereafter to claim Tax Rebate…all businessman DOES that if you don’t you are an IDIOT or Santa Clause

    Sure. Must have lost a few big deals or IRS wouldn’t have let him off that easy.

    As I said:
    Either (a) he’s a terrible businessman who hemorrhages money and thus owes no taxes, or (b) he’s a deceitful very wealthy man who uses shady methods to shield his riches from taxation.

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  • TUMASIK Patriot:

    SojoüRner:
    TumasikPatriot: Sorry, tax return on MSNBC was for the year 2005 $38 million…must have lost a few big deals thereafter to claim Tax Rebate…all businessman DOES that if you don’t you are an IDIOT or Santa Clause

    Sure. Must have lost a few big deals or IRS wouldn’t have let him off that easy.

    As I said:
    Either (a) he’s a terrible businessman who hemorrhages money and thus owes no taxes, or (b) he’s a deceitful very wealthy man who uses shady methods to shield his riches from taxation.

    Taught this by my partner a CPA in my little business…if lose money declare more if possible and get a rebate or offset the following year from profits…if MAKE money keep and spread it over the years to pay LESS…”tio bo???”… I left it to him to do what he likes as a CPA I am only a simple deal maker and “pak-kang-kia” less deceitful than the govt

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  • MarBowling:

    Looks like only the Dishonorable and Deceitful folks use shady methods to shield their riches from taxation!

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