The Great Trump Tax Mysteries: Is He Hiding Loopholes, Errors, or Something More Serious?
“Taxation, in reality, is life,” said Sheldon Cohen, a former commissioner of the U.S. Internal Revenue Service. “If you know the position a person takes on taxes, you can tell their whole philosophy. The tax code, once you get to know it, embodies all the essence of life: greed, politics, power, goodness.”
A rich person’s tax affairs will tell you lots about him or her—but the reverse is fuzzily true, too. Though Donald Trump has refused to release his tax returns, we can get a good idea of what’s in there if we start with what we know about his character and business affairs, then mix these up with the vast rich pudding of loopholes, abatements, and gray areas that wealthy folk in America use to milk the tax system. All this provides an entry into understanding Trump’s bewildering, ever evolving global business affairs, and helps answer some of the great questions of the day. How much is he really worth? Has he broken any laws? How much tax does he pay? Does he use tax havens?
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