Monday, September 28, 2020

The Drums of October - Trump's taxes on display for each day remaining until the election

In Letters from an American Heather Cox Richardson reports on Trump’s taxes.

Late [September 27] afternoon, the New York Times published the story we have been waiting for since 2016: the story of Donald Trump’s taxes. There was never any doubt that whatever was in those taxes was bad or he never would have worked so hard to hide them. But the picture the New York Times story revealed was worse than expected.

Moreover:

The Times says it will not release the actual documents in order to protect its source(s). It also says it will continue to drop more news from this trove over the coming weeks.

Trump is a national security risk

… The Times notes that “within the next four years, more than $300 million in loans—obligations for which he is personally responsible—will come due.”

This, of course, means that Trump is a huge national security risk. He owes money—to whom we don’t know—and he does not have it to pay his debts. It is no wonder that a bipartisan group of nearly 500 national security officials, past and present, last week endorsed Biden for president. According to Defense News, the list included “five former secretaries of the Navy, two former Army secretaries, four former Air Force secretaries, two retired governors, and 106 ambassadors.” Retired General Paul Selva, who served as vice chairman of the Joint Chiefs of Staff for the first two and a half years of Trump’s term, signed the letter.

The tax returns also suggest that Trump’s desperation to stay in office is sparked by the 1973 Department of Justice’s Office of Legal Counsel memo saying a sitting president cannot be indicted. Former inspector general of the Department of Justice Michael Bromwich tweeted “Trump knew something we didn’t when he started balking at the peaceful transfer of power. If he loses the election, he faces federal and state prosecution for bank fraud, tax fraud, wire fraud, and mail fraud, as does his entire family. No OLC memo will spare him.”

Fake news? Come on, Trump

Trump had a press conference scheduled for shortly after the New York Times story broke. When asked about it, Trump claimed the story was “totally fake news,” although a lawyer for the Trump Organization could only try to refute the story with misleading information. After the conference, CNN’s Ana Cabrera pointed out that Trump could stop the New York Times story if it were wrong by “releasing his tax returns, by making them public.”

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