Tag Archives: irs

David Cay Johnston on Trump’s 2005 Form 1040

David Cay Johnston is an investigative journalist and author who is a specialist in economics and tax issues, and the winner of the 2001 Pulitzer Prize for Beat Reporting.  Johnston also wrote the book on Donald Trump, literally: The Making of Donald Trump (August 2016).

Johnston’s latest scoop on “The Donald” is his 2005 Form 1040 tax summary that an unidentified individual mailed to him unsolicited. DCREPORT EXCLUSIVE: Trump Earned $153 Million In 2005; He Paid $36.6 Million In Taxes:

DCReport has obtained Donald Trump’s Form 1040 federal tax return for 2005. There’s no smoking gun there, no obvious evasion, but clearly some bending of the tax laws almost to the breaking point. The document offers a rare glimpse at how a super wealthy couple can manipulate and manage our complex tax laws to reduce their obligations far below rates paid by typical salaried professionals or even blue-collar wage earners.

The White House [preemptively] confirmed the authenticity of the tax returns [before this story was reported]. “Despite this substantial income figure and tax paid,” the White House said in a statement, “the dishonest media can continue to make this part of their agenda, while the President will focus on his, which includes tax reform that will benefit all Americans.”

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When our less-than-less-than-do-nothing Congress returns in September …

US CapitolOur less-than-less-than-do-nothing Congress decided to start its August recess early, failing to address legislative priorities, as they hightailed it out of town on July 14 for a seven-week recess.

Congress will return the day after Labor Day. “D.C. Work Week” days are only scheduled in the House until September 30. The Senate is scheduled to work the first week of October as well. (Schedules are subject to change).

September 30 is an important date that has not received much media attention. It is the end of the Fiscal Year. The House has passed five spending measures and the Senate has passed just three, leaving Congress with unfinished appropriations bills that need to be addressed following the August recess.

There is not enough time for this dysfunctional Congress to actually complete its essential job function on time.

None of the individual appropriations bills have been sent to the President, and it is likely that a stop-gap continuing resolution (CR) spending bill will be needed to fund the federal government past the end of the fiscal year on September 30.

With our less-than-less-than-do-nothing Congressional members wanting to get back to their districts to campaign some more for reelection in October — as if they deserve to be reelected — it is unlikely that the  Republican House Freedom Caucus has enough support to shut down the federal government in an election year stunt, but you never know.

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The IRS non-scandal fizzles

The Rush Limbaugh of The Republic, Doug MacEachern, simply regurgitates the right-wing noise machine talking points he internalizes from listening to talk radio and FAUX News all day, while surfing right-wing web sites on the “Internets.”

maceachernMacEachern, like FAUX News, has been a purveyor of the “IRS targeted conservative groups” for political retaliation conspiracy theory.

Not one of these conservative groups was ever denied tax exempt status — which is the real scandal, under the law they should have been — so the only “scandal” was that conservative groups may have had to wait to receive tax exempt status, a status they could have simply claimed without ever having to apply to the IRS for it. This is classic non-scandal faux outrage from the right-wing noise machine, of which MacEachern is a cog in that machine.

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A demonstration via Venn Diagram for a couple of AZ Dem delegation members

Crossposted at DemocraticDiva.com

Borrowing a page from Atrios, I’m going to just put this out there for Reps. Ron Barber of AZ CD2 and Kyrsten Sinema of CD9. (Please click on image to enlarge)

barber sinema venn

Note the complete lack of overlap between those two groups of people. I’m honestly mystified by their votes. There’s nothing here to even impress dimwitted centrist pundits. My first guess is that their offices have so many angry constituents calling about various right wing conspiracy theories that they’ve overestimated their importance in the district. But another (equally misguided )possibility is that they think that voting for this makes it “safe” to vote against crazy Benghazi bills. OH WAIT NEVER MIND THEY BOTH VOTED FOR THE GODDAMN BENGHAZI BILL. (Jesus.) Or they could simply be doing it to piss liberals off so they can point at how pissed off liberals are so as to look “moderate”. In any case, I eagerly await their explanations. I’m sure they will be doozies.