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Wednesday, May 10, 2017
Tell Congress: No tax legislation until Trump releases all tax returns
On April 15, over 100,000 protesters took to the streets in dozens of cities to demand Donald Trump finally stop the excuses and release his tax returns. The show of force got under Trump’s skin, forcing him to reroute his motorcade and prompting a Twitter tirade against the protesters – including CREDO members.1
We cannot let this energy fade away. In the coming weeks, Congress is preparing to take up right-wing tax cut plans under the guise of “tax reform.”2 We need to make it clear that no tax legislation should get a second of consideration until Trump releases his tax returns.Tell Congress: No tax legislation until Trump releases all tax returns CREDO was a proud supporter of the Tax Day Marches, and CREDO members showed up in force. The people out in the streets know that Trump’s taxes cut the core of so many of the problems with his discredited regime. We have not forgotten Trump admitting in one of the 2016 presidential debates that he dodges taxes, declaring that not paying taxes “makes him smart.”3
Refusing to release the returns reflects an obsession with secrecy and open contempt for democratic norms – after all, every modern president has released their taxes. Trump’s taxes could also reveal his conflicts of interest, ties to foreign interests, potential corruption, history of making money by scamming hardworking Americans and dodging taxes. Given the enormity of potential conflict of interests, Trump owes it to the American people to be as transparent as possible and release any and all of his tax returns.4
Now, Trump is bragging that “we’re going to surprise you” with the speed of tax cut plans.5 Republicans are plotting nothing less than a massive handout to tax-dodging corporations and Wall Street hedge fund billionaires in the name of “overhauling” taxes.
There is no way the public can judge Trump’s tax plans when we don’t know how the so-called president and his businesses stand to personally benefit – and there is no justification for considering tax legislation until every single one of his returns is public.
Every modern president has released his tax returns even while going through the automatic yearly audits required for the president and vice president. Trump’s excuses that he couldn’t release returns while under an audit were always hogwash, but are even more outrageous now that he is in office.6
Americans need to get the truth about Trump’s business dealings, his claims of extreme wealth, how he truly makes his money, what tax loopholes he is using to dodge taxes and the tax rate he actually pays. As Congress starts considering massive tax cuts for corporations and Wall Street billionaires, the American people deserve to know how much Trump stands to personally profit from Republican tax plans.