Wrong, Drive-Bys! Trump Oughta Be
High-Fiving Over These Tax Rulings
rushlimbaugh.com,
by
Rush Limbaugh
Original Article
Posted By: Harlowe,
7/9/2020 3:38:22 PM
RUSH: Well, as usual, I find myself all alone in analyzing the Supreme Court decisions.(Snip)The court sent the case back to the lower court because the court said the lower court did not take into account seriously enough the separation of powers, that the lower court did not sufficiently give enough weight to idea that Congress might have been acting totally politically instead of with legitimate oversight.(Snip)The idea that Trump’s tax records or related financial information has not leaked in four years, what does it tell you? That maybe it ain’t that big a deal anyway, that maybe there isn’t a whole lot there.
Reply 1 - Posted by:
MickTurn 7/9/2020 3:42:58 PM (No. 472585)
All they will find...OMGod is that Pres Trump took advantage of tax laws passed by Democraps for their Rich Friends...
8 people like this.
Reply 2 - Posted by:
hershey 7/9/2020 3:51:13 PM (No. 472593)
I am so very very tired of these simple minded liberals in their constant search for some way to bring Trump down...it would better help the country if they would get on his bandwagon instead of enabling BLM, Anti-fools, rioters and anarchists...
8 people like this.
Reply 3 - Posted by:
woastew 7/9/2020 4:13:10 PM (No. 472613)
Good points, and also that they've probably already been leaked and aren't as bad as the dims hoped, so they're keeping quiet...
4 people like this.
Reply 4 - Posted by:
Calico Al 7/9/2020 4:23:09 PM (No. 472623)
If this had passed would Trump have been able to see ten democrats tax returns? If the gates are open to see one persons tax returns, shouldn't they be open for all? I would love to see Biden's taxes.
6 people like this.
Reply 5 - Posted by:
lakerman1 7/9/2020 4:40:32 PM (No. 472635)
allow me to make a comparison here.
A few days ago, Erie, Pa police arrested a cocaine dealer, and he wouldn't allow himself to be handcuffed. Three or four officers tried to subdue him, and one of the officers punched the drug dealer in the head, 7 times.
the erie police chief was asked to comment. He said, "It looks awful, but is fully lawful."
Real estate investors have all sorts of income tax considerations, including depreciation. A fully depreciated property, if sold, causes capital gains taxes to be paid. But if the property is swapped for a like property, no capital gains taxes have to be paid. The property swap tax exclusion was written into the IRS code back in the 1930s, meant for farmland acreage swaps, to make farmers more efficient. But real estate investors caught on to the tax provision quickly, and have used it regularly.
I suspect that DJTs income taxes reflect all sorts of machinations to minimize tax liability. And as Judge Learned Hand opined, back in the 1920s, 'there is nothing wrong with a person limiting his tax liability.
Or, as the Erie police chief put it, "Looks awful, but is fully lawful.
8 people like this.
Reply 6 - Posted by:
mindsport 7/9/2020 4:51:01 PM (No. 472644)
Just have to point out that Trump never does anything without thinking 5 steps ahead. This just drags it out even more. By the time this goes back to the district court, and then back to the supreme court the election will be over.
4 people like this.
Reply 7 - Posted by:
Ida Lou Pino 7/9/2020 5:43:14 PM (No. 472703)
Rush - - you are not alone.
I wrote the same thoughts on this forum minutes after the decision was handed down - - at 11:07am EDT - - about 50 minutes before you came on the air. See them here - - https://www.lucianne.com/2020/07/09/breaking_supreme_court_hands_brtrump_win_blocks_congress_from_brgetting_his_tax_returns_for_now_38475.html
I'm always delighted to have my words backed up by the Mighty Rushbo. God bless you!
5 people like this.
Reply 8 - Posted by:
czechlist 7/9/2020 7:36:32 PM (No. 472820)
#5
"loopholes"?
They have a bad connotation, but, they ARE legal.
2 people like this.
Reply 9 - Posted by:
lakerman1 7/9/2020 11:22:08 PM (No. 472980)
2nd post apologies, but, number 6, I did not use the term loop holes. I never use it.
there are ways to navigate the complexities of the tax code, and even the best IRS gents don't agree on everything.
And if you ask the IRS if something is legal under the tax code, the answer will be , if yes, only this one time - it is non precedential.
A billionaire hires the best accountants and tax attorneys to navigate the IRS code, and relies on their advice. (Willie Nelson listened to the wrong tax advisors.)
0 people like this.
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The thrust of today’s U.S. Supreme Court rulings are that President Trump’s tax returns cannot be seen for now, and that the presidency does not have absolute immunity from subpoena. Denying access to President Trump’s tax returns by the New York District Attorney or by Congress means today’s rulings are of no immediate political value to Democrats before the November election.