Trump Ducks Releasing His Tax Returns

Just last month, there had been a huge protest in Washington D.C. of people opposed to Donald Trump's decision not to release his tax returns. Although, standing publicly opaque in his own defense, he knew that it is not against the law to refuse exposure of his tax returns. The disclosure of Donald Trump’s 1995 tax maneuver led America to a rare time in which the government’s tax policy turned into a huge national political issue. According to documents by The New York Times, Mr. Trump claimed almost a billion dollars in operating losses that could be used to avoid future federal income taxation. The mind-blowing figure would amount to almost 2% of all of his net operating losses claimed by all American taxpayers that year.

In addition, The New York Times report, “The rule (loophole) that allowed Trump to shelter almost $1 billion in income from taxation dates far back to the year 1918. It was enacted to prevent businesses from being penalized by the administrative convenience of calendar-year taxation: If a company loses $100,000 one year, and makes $100,000 the following year, the law allows the company to pay nothing in taxes, as it has only broken even.”

   

Understandably, his deceitful maneuver could have concealed him for up to eight-teen years’ worth of income taxes, easing his smooth path to his new career, leveraging his name and expertise for publicity while minimizing all the potential risks to his fortunes. Trump-branded apartment buildings, golf courses, hotels, men’s wear and steaks were followed by his lucrative hit reality television series. 

Personally, as a millennial, my personal beliefs sway more as a liberal. I do agree with the facts of the author considering how Mr. Trump has revealed nothing less than a conniving approach within margins in eligibility for presidency. Now that this issue has become much more publicized, I openly advocate that our government should pass a law stipulating any future approach similar to the government's evaluation of Trump’s qualifications in making office which includes but not limited to anyone with no military/ congressional experience, served as senate, provide a transparent approach requiring tax returns of income, assets, and ownership, among many more, etc. If it is required by law that American tax paying citizens provide tax documentation for the approval of various issues, it should be enforced upon our superiors as a validation of proof and transparency.