After a multiyear legal process, six years of Donald Trump’s tax returns have been publicly released by the Ways and Means Committee of the House of Representatives.
The committee voted to provide the financial information on December 30, with Chairman Richard Neal (D-MA) claiming that the release served as a check on the power of the executive branch of the government.
“A president is no ordinary taxpayer. They hold power and influence unlike any other American,” Neal suggested. “And with great power comes even greater responsibility.”
The documents, including personal and business returns from 2015 to 2020, contained almost 6,000 pages of tax information. Prior to his successful presidential campaign in 2016, Trump had bank accounts in several foreign countries, including Britain, Ireland, and China.
Overall, from 2015 to 2020, Trump lost over $53 million and paid more than $1.7 million in taxes.
The committee originally requested the returns in 2019, triggering a legal battle. After lower courts ruled in favor of releasing the tax returns, Trump appealed to the Supreme Court.
However, the Court permitted the former president’s returns to be given to Congress in November, as reported by The Dallas Express. The Internal Revenue Service (IRS), in compliance with the Court’s order, then provided the documents to the Ways and Means Committee.
Trump responded to the news with a statement on Truth Social, suggesting, “The Democrats should have never done it, the Supreme Court should have never approved it, and it’s going to lead to horrible things for so many people.”
“The great USA divide will now grow far left,” he continued. “The Radical Left Democrats have weaponized everything, but remember, that is a dangerous two-way street.”
Addressing some comments that claimed the tax returns showed Trump was a bad businessman, the former president wrote that the returns “once again show how proudly successful I have been and how I have been able to use depreciation and various other tax deductions as an incentive for creating thousands of jobs and magnificent structures and enterprises.”
The Ways and Means Committee also released a report on the mandatory audits the IRS was supposed to have conducted on President Trump’s taxes during his tenure in office. The report suggested that the IRS did not provide the program the resources necessary to adequately examine Trump’s taxes, considering the scope of his investments and business dealings.
“We anticipated the IRS would expand the mandatory audit program to account for the complex nature of the form president’s financial situation yet found no evidence of that,” Chairman Neal explained. “This is a major failure of the IRS under the prior administration, and certainly not what we had hoped to find.”
What?! Trump’s taxes were not being audited? Successful Billionaire with $53 million in losses? Paid $1.7million in taxes. What tax bracket does that put a Billionaire in with bank accounts all over the world? Proudly successful using “depreciation and various tax deductions”? For a person who loves to brag about himself and how successful he is, he fought awful hard to hide it. I don’t know, but it sounds like tax evasion to me.
It said “…the IRS did not provide the program the resources necessary to adequately examine Trump’s taxes… “. It did not say that they did not examine. “Adequately” is the key word there. Obviously, the tax lawyers understand the tax laws better than the schmucks they hire at the IRS. Of course, the lawyers get paid better. And now the demdums have made it a law that they CANNOT be audited. Well, isn’t that convenient. But you don’t find that a bit screwy? NO ONE should be above the laws, most especially government personnel. Pelosi, and Biden and his son definitely need to be audited. They should never be allowed to make laws that benefit them, most especially only them, personally. Wake up and smell the evil.
Amazing they don’t have “adequate resources” to examine his taxes when they have adequate resources to examine the taxes of every other billionaire. Story I hear is that ALL Presidents taxes has been audited since Nixon. Don’t you think it odd that all of a sudden when TRUMP becomes President, they don’t have “adequate resources”? I am not aware of any law that says democrats can’t be audited. Did Trump or Tucker Carlson tell you that? I just thought it odd for someone who shouted so loud for Obama to release his birth certificate would say he can’t release his tax returns like all other Presidential candidates because they are being audited, when he knew all along they weren’t. But I shouldn’t be surprised when he lies almost every time he opens his mouth. Open your eyes and SEE the evil.
Here’s a millionaire who became President, donated his salary while POTUS and lost a lot of wealth in his personal businesses during the time he served. Then used every LEGAL loophole to avoid paying taxes.
I’m not that concerned with his taxes.
But I’d love to see the taxes of people in the senate and congress who became millionaires while serving in office getting paid less than $200,000. a year.
The math doesn’t add up!
And if we have agents with time to investigate stuff, how about The Biden’s? That laptop is horrific. And how about a good investigative reporter? Why don’t they look into all the Biden corruption, you know like they would if it was Trump.
But alas, let’s keep investigating Trump……surely at some point we’ll find something.
If you look a little further into the taxes, you’ll find he shows no charitable contributions while in office. I know he said he was going to contribute his salary. Now why do you think he would lie about something like that? Did he just forget to take the deduction?
You have examined 6,000 pages of Trump’s tax returns? Amazing!
Thank you for explaining that for me.
I want to see Clinton’s, obama’s, pelosi’s, biden’s tax return too, so I can compare who has done wrong or not.