Four Months To Eternity In Prison If Trump Tax Data Leaker Caught
It will probably be a while before we are at cocktail parties or conferences or the like, but if you are at one and the subject of the New York Times disclosures comes up and people start getting into the Trump crimes that might be inferred, you can segue to “But what about the federal crimes the leaker might have committed?” By having actual statutes in mind, you can sound very knowledgeable. Here is what we identified:
New York Times Trump Tax Story Disappoints
If we want to look at the Trump as masterful dodger narrative, the question would be whether there is anything extraordinary about him given what he is involved in. In his capacity as commercial real estate master of the universe, there is nothing inconsistent with being successful and not paying much in the way of income tax.
The limitation on excess business losses enacted as part of TCJA and suspended as part of the CARES Act illustrates that principle. I had someone with expertise in that area speculating that Trump donates his presidential salary so that he can maintain the real estate professional status required to deduct some of his losses. I discuss that concept here.
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Over and over again courts have said that there is nothing sinister in so arranging one’s affairs as to keep taxes as low as possible. Everybody does so, rich or poor; and all do right, for nobody owes any public duty to pay more than the law demands: taxes are enforced exactions, not voluntary contributions. To demand more in the name of morals is mere cant.