It's been a truly terrible ten days for Hillary Clinton. As a result, this morning we got a coordinated attack on Trump from the mainstream media. The New York Times led the charge with an article on the top of the first page about how twenty years ago Trump used a "questionable" tax move to avoid paying taxes. Trump exchanged debt for partnership interests before that debt was cancelled. The Times makes a big point that the internal revenue code was changed in 2004 so that it could no longer be used by taxpayers to avoid tax. After the Times published the article, all the other Hillary media started talking about it immediately. They are trying to change the subject from Hillary and the criminal investigation by the FBI into her email mess and from the corruption uncovered by Wikileaks.
Here's the problem with the new story: Trump was audited by the IRS for the years in question. We know that from all the prior discussions of Trump's tax returns. That means that two decades ago, the IRS reviewed this so called "improper" tax move. If there was anything illegal or even improper, the IRS agents doing the audit would have caught it and had it corrected. We know that there was no claim back then that Trump had done anything illegal on his taxes. As a result, the tax move that the Times and the other Hillary media is screaming about was at most something that the IRS corrected. The truth, however, is that we have no reason to believe that the IRS changed anything on Trump's return for that year.
Of course, we do know that the tax position that Trump took in the 1990s was taken away by Congress about ten years later. So what? Think about it. It's like your driving on a road near your house at 50 miles per hour when the speed limit was 50. You pushed it to the limit, but you didn't do anything illegal. If that speed limit is changed years later to 25, it doesn't make your original 50 mph driving illegal.
The funny thing about this story is that it shows that the Hillary media has run out of real items to throw at Trump. They are really scraping the bottom of the barrel with this one.
Here's the problem with the new story: Trump was audited by the IRS for the years in question. We know that from all the prior discussions of Trump's tax returns. That means that two decades ago, the IRS reviewed this so called "improper" tax move. If there was anything illegal or even improper, the IRS agents doing the audit would have caught it and had it corrected. We know that there was no claim back then that Trump had done anything illegal on his taxes. As a result, the tax move that the Times and the other Hillary media is screaming about was at most something that the IRS corrected. The truth, however, is that we have no reason to believe that the IRS changed anything on Trump's return for that year.
Of course, we do know that the tax position that Trump took in the 1990s was taken away by Congress about ten years later. So what? Think about it. It's like your driving on a road near your house at 50 miles per hour when the speed limit was 50. You pushed it to the limit, but you didn't do anything illegal. If that speed limit is changed years later to 25, it doesn't make your original 50 mph driving illegal.
The funny thing about this story is that it shows that the Hillary media has run out of real items to throw at Trump. They are really scraping the bottom of the barrel with this one.
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