Tag Archives: IRS

business news

Hillary and others were right? Uhh … yeah!

“It proves that Hillary Clinton was right all along Nancy Pelosi was right all along; Chuck Schumer was right all along; the Democrats were right all along. Reporting from The New York Times was right all along; the Washington Post, too, was 100% correct all along. Donald Trump was not under audit. Donald Trump was lying. He was desperate to hide the truth from Americans.”

So said a TV host today in comments relating to the former president of the United States and his stubborn refusal to release his tax returns for public review.

The host is Mika Brzezinski of MSNBC and her point off the top is that Donald Trump never was being audited by the Internal Revenue Service as he insisted as the reason why he couldn’t release his returns.

So … he lied? Wow! Who woulda thought that was possible?

Some of us — such as this blogger — noted long ago that Trump never even produced any proof that the IRS was auditing his returns. For its part, the IRS said its rules prohibited it from commenting on specific cases. The agency, though, did say that audits do not prevent anyone from releasing the returns.

Back to the returns that finally have been turned over to the House Ways and Means Committee, they haven’t yet revealed everything about Trump’s business dealings, but it has shown has been a doozy so far.

They show that Trump had negative income in four of the six years covered by the release of the returns. What does that mean? Well, I believe it means that Trump’s continual bragging about his business brilliance was — to borrow a phrase — a bald-faced lie.

This information reveals him to be the business fraud that many of us suspected of him all along. Just think, therefore, of the phony claim of business acumen being used as a campaign ploy to get him elected POTUS in 2016. Wasn’t that part of the carnival barker’s alleged “charm” to voters?

The public has a right to know the details of a president’s finances, regardless of what politicians might say. Now the public is on the cusp of knowing a great deal about the fraud who presented himself as the world’s most astute business executive on his way to being elected to the world’s most powerful public office.

Let the chips fall.

johnkanelis_92@hotmail.com

business news

Trump tax returns to go public

Republicans blasted the decision to release the returns, warning that the move will usher in a new era of disclosing personal financial documents as a “political weapon.”

What you see in the preceding paragraph comes from The Hill newspaper, quoting Republicans who are critical of a decision to release Donald Trump’s tax returns, turning them over to public inspection.

They are wrong to fear the weaponizing of tax returns.

The U.S. House Ways and Means Committee today voted along party lines to release six years of Trump’s taxes. The ex-president fought their release. He didn’t want to disclose to the public what previous presidents and presidential candidates had done since 1976.

So, what in the world should GOP officials fear now?

House Ways and Means Democrats who voted to release the tax returns now will give the public an inside look at the tax burden — or lack of burden — the one-time president had to bear while he was demanding that you and I pay our taxes.

It’s fair game.

johnkanelis_92@hotmail.com

business news

SCOTUS clears way for Trump tax return

How does the saying go? Oh, I know: Inquiring minds want to know … actually those inquiring minds need to know and have a right to know.

Know what? They have a right to know how much a former president of the United States paid in taxes. They have the right to know how much he gave to charity. They are entitled to know the nature of his business dealings. They also have a right to know whether Donald J. Trump is as wealthy as he claimed to be while running for POTUS in 2016.

The U.S. Supreme Court has cleared the way for the U.S. House Ways and Means Committee to get its hands on Trump’s tax returns. The court didn’t disclose any details of its decision or reveal how the justices voted on it. Now, that begs the question: Does that mean you and I will see them? Not right away.

However, given the sieve quality of Congress, my guess is that we’ll get a peek at them in due course. Maybe soon.

Why is this a big deal? It’s a big deal because Donald Trump made it a big deal in 2015 when he announced his intention to seek the presidency. He rode down the Trump Tower escalator and said, among many things, that he would release the returns as other candidates have done.

Then he backed off. Then he said he would release them when the Internal Revenue Service completed its audit of the returns. We never learned whether the IRS was actually auditing them; Trump never produced any evidence of an audit. The IRS said it couldn’t confirm an audit but said that an audit didn’t preclude someone from releasing the returns.

Then he balked again. He’s been fighting release of the returns ever since.

Many of us want to see the returns. We are entitled to see them. The man worked for us. Trump was our “employee” for four years.

He wants to run for POTUS again. He likely will bellow, blather and boast more about his wealth. I long have known that the truly wealthy among us don’t brag about it. Thus, I am suspicious of Trump’s dubious claims of fabulous wealth.

Let us see for ourselves.

johnkanelis_92@hotmail.com

religious news

Yes, tax churches too

Annette Ferrell is a Dallas resident who, in a letter to the Dallas Morning News, posed a question that I believe I am prepared to answer.

She wrote this in today’s newspaper: Am I the only one shocked that churches recommend political candidates? Are pastors announcing or suggesting which candidate to support to their flock? Am I mistaken that our nation was built on religious freedom from domination of any religion? Is it time to tax the churches?

Let’s see. OK, my answer is that, yes, it is time to tax churches the way we tax other institutions.

The Constitution declares only that Congress shall make no law that establishes a state religion. Beyond that, the nation’s government document is virtually silent on the issue of religion, although it does declare in Article VI that there should be “no religious test” demanded of political candidates. I suppose, though, that taxing authorities have deemed houses of worship to be untouchable, that they shouldn’t be taxed because they — ostensibly, at least — are not involved in the political process.

Well, many of them damn sure are involved.

Here’s an example I want to share briefly about something I witnessed during my first year in Texas. I attended a political rally in the spring of 1984 — in a church in Beaumont. It featured a stemwinder of a speech from the Rev. Jesse Jackson, the Baptist preacher who that year was running for the Democratic Party’s presidential nomination. Jackson had the place rockin’ with his rhetoric. It was, from a political standpoint, one of the most electrifying events I’ve ever witnessed.

The setting, though, did give me pause. That it occurred in a church troubled me at the time.

If we fast-forward to the present day, we see churches becoming involved in the election of Republican candidates for high office. Preachers have developed clever ways of dancing around their political activity. Their involvement is unmistakable.

If politicians must make their pitches in houses of worship, then the government has every right to assess tax liabilities on those places.

johnkanelis_92@hotmail.com

Donald Trump, economic news

Turn ’em over, Donald!

Donald J. Trump has just been punched in the gut once again by a federal judge who says the former POTUS cannot keep his income tax returns away from congressional review.

So … does that mean he turns ’em over to Congress? Not just yet, no doubt.

But he damn sure should. I want to see what’s in them, you know?

Trump has been fighting off and on ever since he declared his presidential candidacy in 2015 whether to release the tax returns to public scrutiny, as other candidates have done since 1976. He said he would; then he said he wouldn’t or couldn’t; then he changed his mind again; then he said the Tax Man was auditing them, which means he cannot release them.

A federal judge Tuesday tossed out a lawsuit Trump had filed to keep the tax returns from Congress. He said Congress is entitled to review the returns, despite Trump’s various specious claims.

It’s all baloney. Trump knows it. So do the rest of us.

I have this suspicion we’re going to learn a whole lot more about Trump’s “fortune” than we do now. That isn’t as rich as he claims to be. That he has business dealings with suspicious characters. That he gives practically nothing to charity.

You know. Fun stuff like that.

C’mon, Mr. ex-POTUS. Release ’em!

johnkanelis_92@hotmail.com

business news, national news

Who could have seen this coming?

By John Kanelis / johnkanelis_92@hotmail.com

Well now. A lawyer for the former Cheater in Chief says he will fight the order to release his client’s tax returns to Congress.

Who could have seen this coming? Oh, I don’t know. Just about … everyone!

According to The Hill: “There is no evidence of any wrongdoing here and I object to the release of the returns not only on behalf of my client but on behalf of all future holders of the office of the president of the United States,” Ronald Fischetti, a lawyer for (Donald) Trump, told The Wall Street Journal.

Think about the irony of that statement for just a moment.

“No evidence of any wrongdoing here.” That’s what the legal eagle says. My question is straightforward: If there’s “no evidence of wrongdoing,” then what in the world is the reason for withholding those returns, for keeping them from public view?

Trump attorney says he will fight release of tax returns | TheHill

The custom of releasing those returns arose from the Watergate scandal of 1973-74. Suspicion was rampant throughout the land about politicians’ wealth. Beginning with the 1976 presidential election, candidates of both parties agreed to release their income taxes to show the public they had nothing to hide.

To be sure, plenty of mega-rich individuals have sought the presidency in the more than 40 years since that time. For instance, Mitt Romney, the Republican presidential nominee in 2012, released his tax returns without a whimper.

The custom has held up over time. Then along came the 45th POTUS, who ran for the office in 2016. When he initially balked at releasing his returns, alarm bells began sounding all over the place. What’s he hiding? Is he as rich as he says he is? Are there business dealings he doesn’t want us to see? How much has he donated to charity? Is he paying his fair share of taxes?

The last question perhaps is the most pertinent, given that a president — along with Congress — helps set tax policy that forces all Americans to pay their share of taxes. I don’t know about you, but I want to know whether the president is doing his part, too, in paying for the government.

Of course, the 45th POTUS’s business dealings have become the subject of civil and criminal investigations. The former Liar in Chief said the feds are auditing his tax returns, so he can’t release them. The IRS says that’s malarkey.

Now his lawyer pledges to fight. Good luck with that. The former POTUS no longer can use the power of his office to stonewall what look to me to be legitimate requests to see his tax returns.

Give ’em up, Mr. ex-POTUS.

business news

Let’s see ex-POTUS’s tax returns

By John Kanelis / johnkanelis_92@hotmail.com

Well now, the Department of Justice has spoken, telling the Treasury Department that it must release the long-sought tax returns of the former Cheater in Chief to Congress.

Is that the end of it? Does that mean the former POTUS is going to comply?

Oh-h-h no. Not even close. He’ll find a way to fight it.

The DOJ memo issued today is a reversal of what it declared when POTUS 45 was in office. There’s a new sheriff in town, so now the posture is different.

The memo said the following, according The Hill: In a memo from the Justice Department’s Office of Legal Counsel (OLC), acting Assistant Attorney General Dawn Johnsen said the Treasury Department was required to defer to the congressional committee.

“The statute at issue here is unambiguous: ‘Upon written request’ of the chairman of one of the three congressional tax committees, the Secretary ‘shall furnish’ the requested tax information to the Committee,” Johnsen wrote in the 39-page memo.

Unambiguous? That means it’s crystal clear.

Justice Department says Trump’s tax returns should be released | TheHill

Many of us have argued all along that presidential political custom should prevail in this matter. Candidates going back to 1976 have revealed to the public their net worth and opened their books to public scrutiny. That held true until POTUS 45 entered the presidential field in 2016. He said he would release them, then he backed out, then he agreed again, then he balked once more.

He said tax gurus are auditing his returns. However, he’s never provided a shred of proof that the Internal Revenue Service in fact is auditing his returns; the IRS, meanwhile, has said that an audit does not preclude a politician from releasing them to the public.

The ex-Liar in Chief insists there is nothing untoward in his returns. Well, alrighty then. If that’s the case, then there should be nothing to hide. Right?

At issue now is whether Congress can review the returns in private and decide whether to make them public.

Speaking only for myself, I want to see it all. We deserve — at the very least — to know whether the ex-Con Man in Chief is as rich as he has bragged of being.

Uncategorized

Trump to be revealed as fraud?

1 Comment

By JOHN KANELIS / johnkanelis_92@hotmail.com

It occurs to me that the U.S. Supreme Court decision that clears the way for prosecutors to obtain Donald Trump’s tax returns is going to make the ex-POTUS an extremely nervous individual.

Why? Because I believe we are going to learn that Trump is every bit the phony and fraud that Sen. Mitt Romney said he was during the 2016 presidential campaign.

Yep, if I were Donald John Trump, I would be extremely nervous … maybe even frightened.

He bragged about being an uber-rich guy. I’ll bet we’re going to learn he isn’t nearly as rich as he has claimed to be. That’s just for starters.

national news

Sure, Donald, deny all you want

By JOHN KANELIS / johnkanelis_92@hotmail.com

Donald Trump wants us to believe he has nothing to do with a federal investigation into the business dealings of the son of the man who defeated him for re-election.

Do we take the word of the Serial Liar in Chief? Umm, I don’t think so.

Hunter Biden, son of President-elect Joe Biden, has declared that the Internal Revenue Service is investigating his business affairs. He has cooperated with the IRS. Meanwhile, Donald Trump continues to throw up roadblocks to Joe Biden’s transition into the presidency and his minions continue to raise the issue of Hunter Biden’s business dealings, as if to smear his father.

So now we have Donald Trump declare he has nothing to do with the feds investigating Hunter Biden. Do you believe him? Neither do I.

Indeed, I stand by my refusal to take a single thing that comes from Trump’s mouth at face value.

economic news

Trump gives us all the shaft

By JOHN KANELIS / johnkanelis_92@hotmail.com

It’s no surprise to anyone on Earth to know that I am not a wealthy man.

I made a nice living for many years and was able to provide for my family, but I certainly never acquired great heaps of material wealth, a la … Donald J. Trump.

However, I damn sure paid a whole lot more in federal income taxes than the Trumpkin in Chief paid over the course of the past 15 years, as revealed by The New York Times.

What am I supposed to think of this? Well, first of all, it’s no surprise to learn any of this, given Trump’s refusal to release his tax returns. Am I angry? Sure I am! However, I fall into the “never Trump” category of voters, so my anger is tempered a bit by what I have long suspected about the president of the United States, that is a fraud.

Here’s the question of the day: How should the Trumpkins out there, those who have paid their fair share of taxes, feel about their guy’s tax dodge?

I will shake my head violently if we hear from them that they’re OK with this. The guy who purports to speak for the masses of Americans disgruntled and angry with government now has been revealed to be someone who cheated the government out of revenue while understanding that his fervent, ardent and occasionally rabid followers are paying through their noses.

How many more lies is he going to concoct to persuade those among us that what he has done is OK, that it simply makes him “smart”?

This is what the cult of personality has produced, ladies and gentlemen. Go figure.