Patterico's Pontifications

9/27/2020

EARTHQUAKE: New York Times Gets Trump Tax Returns

Filed under: General — Patterico @ 3:29 pm



Wow. This is going to shake up the race.

Donald J. Trump paid $750 in federal income taxes the year he won the presidency. In his first year in the White House, he paid another $750.

He had paid no income taxes at all in 10 of the previous 15 years — largely because he reported losing much more money than he made.

. . . .

The tax returns that Mr. Trump has long fought to keep private tell a story fundamentally different from the one he has sold to the American public. His reports to the I.R.S. portray a businessman who takes in hundreds of millions of dollars a year yet racks up chronic losses that he aggressively employs to avoid paying taxes. Now, with his financial challenges mounting, the records show that he depends more and more on making money from businesses that put him in potential and often direct conflict of interest with his job as president.

The New York Times has obtained tax-return data extending over more than two decades for Mr. Trump and the hundreds of companies that make up his business organization, including detailed information from his first two years in office. It does not include his personal returns for 2018 or 2019. This article offers an overview of The Times’s findings; additional articles will be published in the coming weeks.

We’ll be talking about this through the election, I would guess.

Please let me know what the spin will be below. Options that leap to mind: Fake News; it’s smart to minimize taxes; focus on who leaked them … well, whatever I missed, you guys will tell me.

UPDATE: This is charming:

Rather, there appears to be a closer-to-home explanation for at least some of the fees: Mr. Trump reduced his taxable income by treating a family member as a consultant, and then deducting the fee as a cost of doing business.

The “consultants” are not identified in the tax records. But evidence of this arrangement was gleaned by comparing the confidential tax records to the financial disclosures Ivanka Trump filed when she joined the White House staff in 2017. Ms. Trump reported receiving payments from a consulting company she co-owned, totaling $747,622, that exactly matched consulting fees claimed as tax deductions by the Trump Organization for hotel projects in Vancouver and Hawaii.

Very slick.

Sunday Music: Bach Cantata BWV 87

Filed under: Bach Cantatas,General,Music — Patterico @ 12:01 am



It is the seventeenth Sunday after Pentecost. Today’s Bach cantata is “Bisher habt ihr nichts gebeten in meinem Namen” (Until now you have asked for nothing in My name):

Today’s Gospel reading is Matthew 21:23-32:

The Authority of Jesus Questioned

Jesus entered the temple courts, and, while he was teaching, the chief priests and the elders of the people came to him. “By what authority are you doing these things?” they asked. “And who gave you this authority?”

Jesus replied, “I will also ask you one question. If you answer me, I will tell you by what authority I am doing these things. John’s baptism — where did it come from? Was it from heaven, or of human origin?”

They discussed it among themselves and said, “If we say, ‘From heaven,’ he will ask, ‘Then why didn’t you believe him?’ But if we say, ‘Of human origin’ — we are afraid of the people, for they all hold that John was a prophet.”

So they answered Jesus, “We don’t know.”

Then he said, “Neither will I tell you by what authority I am doing these things.

The Parable of the Two Sons

“What do you think? There was a man who had two sons. He went to the first and said, ‘Son, go and work today in the vineyard.’

“‘I will not,’ he answered, but later he changed his mind and went.

“Then the father went to the other son and said the same thing. He answered, ‘I will, sir,’ but he did not go.

“Which of the two did what his father wanted?”

“The first,” they answered.

Jesus said to them, “Truly I tell you, the tax collectors and the prostitutes are entering the kingdom of God ahead of you. For John came to you to show you the way of righteousness, and you did not believe him, but the tax collectors and the prostitutes did. And even after you saw this, you did not repent and believe him.

The text of today’s piece is available here. It contains these words:

Forgive, o Father, our guilt
and yet have patience with us,
when we pray in devotion
and say: Lord, to Your commands,
(ah, speak no longer in parables,)
help us much more by intervening!

Happy listening! Soli Deo gloria.


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