Trump's Only Consistent Position on Taxes Is That He's Not Going to Release His Returns
In a move sure to strike terror into the heart of the Republican donor class, Donald Trump said this weekend he’d be willing to raise taxes on the wealthy. Then again, maybe nobody really cares, because last fall he said he’d lower taxes for everyone.
“For the wealthy, I think, frankly, it’s going to go up,” he said on ABC’s This Week. “When it comes time to negotiate, I feel less concerned with the rich than I do with the middle class.”
In September, Reuters notes, Trump released a tax proposal that included reducing the highest income tax rate to 25 percent from 39.6 percent. When asked what precipitated the change, Trump said the original proposal was “a concept.”
It seems that one of the only consistent positions Trump has held is his unwillingness to release his tax returns, citing once more an Internal Revenue Service audit that prevents him from making his returns public. (This is an imaginary problem. The IRS has said, “Nothing prevents individuals from sharing their own tax information.”)
“I’ll do it as fast as the auditors finish,” he said Sunday. From the Guardian:
The former reality TV star insisted that “you don’t learn much from tax returns” and that his “financials” show a value of more than $10bn. His financial filings with federal officials, however, do not always correspond with other declarations of his worth.
For instance, in a financial disclosure made when he announced his run for the White House last year, Trump listed a New York state golf club at $50m. But in a lawsuit, as part of his argument that he should pay 90% less tax on the property, he told a judge the same club was worth only $1.4m.
“I have very big tax returns,” Trump said. “They’re extremely complex.”