By William Haupt III (The Center Square)
“A magician is not an accountant to figure out the US income tax code.” – Albert Einstein
Internal Revenue Service data on thousands of wealthiest Americans over the past decade provides insight into the finances of America’s wealthiest, including Michael Bloomberg, Rupert Murdoch, Warren Buffett, Bill Gates, George Soros, Mark Zuckerberg and others. It shows their income and taxes, their investments and stock transactions and how often they have been audited and the results.
Analyzing this data supports the cornerstone of our tax system: everyone pays their fair share, and the rich pay more. Records show that the wealthy can, legally, pay taxes that are a tiny fraction of the millions of dollars they make each year.
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The annual wealth earned by the rich is not taxable income. Only when sold, those assets are treated as income.
When Donald Trump was running for president in 2016, he refused to release his tax returns because he was being audited, which is not unusual for people in his income bracket. But Hillary Clinton’s Democratic operatives say she is hiding information that disqualifies her for office.
“It’s clear that Donald Trump has done a lot of things that he needs to hide from voters.” – Hillary Clinton
The US Constitution sets out a very limited list of qualifications for those running for president: a candidate must be a natural-born citizen over the age of 35 and have lived in the United States for at least 14 years. The Supreme Court has ruled against states adding any additional requirements.
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Trump campaign manager Kellyanne Conway said, “I don’t get why this is such a big issue for liberals?” Rudy Giuliani responded, “The way the media is treating this shows why no one wants to release their tax returns. His political opponents go through them and make non-issues.
Throughout Trump’s tenure as president, Democrats, the liberal media, and progressive naysayers have discovered and theorized reasons why Trump has refused to release his tax returns. And these same groups did not mention that Trump has returned most of his salary to the government. During the pandemic, he donated his entire salary to the FDA to help develop a COVID-19 vaccine.
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When Democrats petitioned the Supreme Court to get Donald Trump’s taxes, desperate to fill in the blanks to stage their witch hunt, he reluctantly agreed. Without legal precedent to do so, this is the first time in history that any court has forced a president to disclose his tax returns.
“When you put a man on the Supreme Court he ceases to be your friend.” – Harry S. Truman
Democrats unleashed a nuclear political weapon on the president, who spent four years trying to impeach him on conspiracy theories invented by Adam Schiff. To add insult to injury, they leaked Trump’s tax returns to the liberal media so all of America could see them. Politicians, political pundits, journalists, and many in the liberal media are outraged by the unethical extremism of the Democrats.
Political lawyer and scholar Rogan O’Handley said Democrats opened a can of worms, and he regrets it. “The Left just set a precedent they’re going to deeply regret. Now we can look at *everyone’s* tax returns: McConnell, Pelosi, Schiff, Schumer and Biden, let’s start with Corp.
“Trump’s tax returns examine how proudly successful Donald Trump is,” said Mark Levin.
Congressman Troy Nehls (R-TX) opined, “I’m not interested in seeing the tax returns of President Donald Trump, a man who left office worse than when he entered it. However, I would be interested to see the tax returns of all the elected officials who became millionaires while in office.
Judicial Watch President Tom Fitton said: “The Pelosi gang’s abuse of power to obtain and release former President Trump’s tax returns will lead to the removal of all responsible Democrats from the Ways and Means Committee.” Fox News anchor Geraldo Rivera agreed: “Trump’s federal tax returns were unfairly released to harass him. They illegally invaded their privacy!
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Sirius XM talk radio host Andrew Wilkow responded: “There is no law requiring a presidential candidate to release tax returns. Republicans must now use this political weapon in Congress. Democrats have no choice because they have found another way to silence those who stand in their way.
The 4th Amendment gives every citizen a reasonable expectation of privacy free from invasion of private space, whether physical or electronic, by an individual or by the government.
“The greatest danger to liberty lies in the insidious encroachment of men of passion.” – Louis D. Brandeis
Donald Trump is the richest person to run for president. Disclosing his income tax returns to anyone would be a huge security risk for Trump and his entire family. In order to protect himself and his family, he had the legal right to keep his tax returns private from everyone.
By using the Supreme Court to obtain a copy of Donald Trump’s tax returns, Democrats showed their disdain for the security of Trump and his family. This is a blemish on our democracy and is now contained in the Supreme Court judgment. Now Democrats feel they have “unlimited power to target and make public the tax returns” of private citizens and political enemies.
In 2018, California, the nation’s most liberal state, passed a bill requiring presidential candidates to release their tax returns before they can be put on the ballot, a move that Donald Trump condemned. The Supreme Court rejected it as unconstitutional. Even former far-left Governor Jerry Brown agreed.
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Wolfgang Goethe wrote, “We are our own demons.” According to Pew research, most Americans think Democrats have spent too much time investigating the Jan. 6 protests and not enough time running the nation. He thinks Liz Cheney is trying to blame Trump on Jan. 6, instead of punishing those who infiltrated the protest and turned it into a cacophony of chaos.
After Elon Musk blew the whistle on the Democratic Party, federal agencies and the Bidens for sleeping with Twitter executives in the last election, Americans are more concerned than ever about federal overreach. If the government and its agencies convince Big Tech to censor conservatives and refuse to print news about the illegal activities of a presidential candidate’s son, that would be terrible! Political activists, conservative candidates and private citizens fear that Biden and Democrats will use federal agencies to silence anyone they want, as Barack Obama did with the IRS.
The 4th Amendment protects your income tax returns from public scrutiny. And it protects us from selective audits requested by politicians who fear those who disagree with them. If no political party shows respect for the constitution and no one stops them, then we have to protect ourselves from the government with vigilance.
“Government exists to protect us from each other. If the government oversteps its bounds it decides to protect us from us. “- Ronald Reagan