NYC proposal would require Donald Trump to release tax returns

15 April, 2017, 01:35 | Author: Michele Stevens

President Trump has repeatedly said an Internal Revenue Service audit prevents him from releasing his records. His taxes would allow the American public to see if his family has any current investments in Russia, and, more important, if the Russians have any current investments in him. But, just as importantly, they will be calling attention to income inequality and demanding tax justice.

He also noted that the payroll tax system is far more regressive, since it starts taxing the very first dollar earned by an employee.

Despite some intra-party disputes on tax issues, English and Burton said they remained hopeful that Trump and GOP leaders would rally support for a big tax bill. After all, if he has nothing to hide, there ought to be no reason for the wealthiest president in American history to keep secret just how much he has been paying into the U.S.Treasury. While he was not prosecuted, his tax lawyer went to prison for backdating documents to take fraudulent tax deductions.

"The American people are outraged that President Trump has broken his promise to release his taxes raising doubts and casting shadows over countless actions taken by his administration", Karen Hobert Flynn, president of the watchdog group Common Cause, said Friday. Our president should be working only for us - not for his own enrichment through deals with offshore partners closely tied to foreign leaders.

Councilman Corey Johnson, whose district includes Chelsea, Hell's Kitchen and the West Village, plans to propose legislation that would require the company behind Trump Golf Links at Ferry Point to disclose the commander-in-chief's tax returns, a spokesman for Johnson confirmed Wednesday. "I care about transparency and conflict of interest", Taub said.

Sen. Chuck SchumerCharles SchumerSchumer: Tax reform gets harder if Trump doesn't release his returns How Gorsuch's confirmation shapes the next Supreme Court battle Trump's U-turn on Chinese currency stance a step in the right direction MORE (D-N.Y.) is warning that it will be more difficult to pass tax reform until President Trump releases his tax returns. "For his own good, he ought to make [his tax returns] public".

In March, MSNBC host Rachel Maddow reported that Trump paid $38 million in federal taxes, according to his 2005 1040 form.

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A protest earlier this year against US President Donald Trump's travel ban. Hayes said that's not true, noting that Americans living under the poverty line would get monthly assistance on top of any income, in essence lowering their effective tax rate from what it is now.

The Fair Tax would scrap federal income taxes for individuals and businesses, along with payroll taxes and state sales taxes and replace it with a 23 percent national retail sales tax.

A spokesperson for the Trump Organization did not immediately respond to a request for comment from Patch.

But neither Democrats or Republicans will risk Trump's the wrath, and that of his most dedicated supporters, unless millions of voters demand it.

"You work for us", the message to Trump on the Tax March website reads.

He said the alternative to the Fair Tax is a lot more audits.

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