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The New York Times' coverage of Trump's taxes is an emperor-has-no-clothes moment CNN (348 hits)


The New York Times' coverage of Trump's taxes is an emperor-has-no-clothes moment
CNN Digital Expansion 2018, BRIAN STELTER
Analysis by Brian Stelter, CNN Business

The New York Times just published one of the most important stories of the past five years.
The story is about President Trump's taxes. This is an "emperor has no clothes" moment for the president and the beginning of a long, drawn-out news cycle about his finances.

As CNN's John Harwood said during Sunday evening's breaking news coverage, the story is "a devastating picture of a president who is bleeding financially and is depending on his presidency to prop him up financially."

The Times' front page on Monday has a six-column, two-line headline — which is just about as big as it gets in print. The headline says "PRESIDENT'S TAXES CHART CHRONIC LOSSES, AUDIT BATTLE AND INCOME TAX AVOIDANCE."

READ MORE: The New York Times' coverage of Trump's taxes is an emperor-has-no-clothes moment https://www.cnn.com/2020/09/28/media/nyt-trump-taxes-reliable-sources/index.html


Posted By: Deacon Ron Gray
Monday, September 28th 2020 at 6:28PM
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Now, when I say the story is "important," I'm not saying it is going to change many minds. That was the go-to defense by some Trump supporters on Sunday: That no one in their world will care about the revelations.


Monday, September 28th 2020 at 6:30PM
Deacon Ron Gray
This story say's a lot about to what Trump allegedly has done. Can you believe it?




Tuesday, September 29th 2020 at 9:24AM
Deacon Ron Gray
How much AMT did Trump pay, and in what year Ron?

Tuesday, September 29th 2020 at 9:42AM
Steve Williams
Steve, if you are talking about " alternative minimum tax " Let us first look at what "AMT" is.

What is the AMT
Filers who are subject to the AMT would calculate their income tax liability twice: Once under ordinary tax rules, and a second time with the AMT, which would back out personal exemptions and certain itemized deductions, such as the state and local tax deduction.

“State and local taxes pushed people into AMT quite easily,” said Evan Morgan, CPA and tax director at Kaufman Rossin in Miami. “Prior to 2018, state and local tax deductions were one of the largest itemized deductions on most people’s returns.”

Taxpayers would look at their liabilities under the ordinary rules and the AMT and then pay whichever tax was the highest.

Trump taxes: Trump refuses to discuss returns after report he paid only $750 in income taxes in 2016 and 2017


Tuesday, September 29th 2020 at 10:47AM
Deacon Ron Gray
Also keep in mind that the Supreme Court has repeatedly ruled that the First Amendment allows the press to publish newsworthy information that was legally obtained by reporters even when those in power fight to keep it hidden. That powerful principle of the First Amendment applies here."


Tuesday, September 29th 2020 at 10:54AM
Deacon Ron Gray
When you pay AMT that gives you an AMT credit. AMT is like a deposit. For example Ron, if I order a new Jaguar today, and pay for it in full, and pick it up in a month, nobody can tell me at that time I didn't pay anything for it.

Tuesday, September 29th 2020 at 11:37AM
Steve Williams
AMT is no mystery to NBC. They are the ones I first heard from that Trump paid AMT. They just won't tell you what I just did.

Tuesday, September 29th 2020 at 11:39AM
Steve Williams
Steve, the problem with Trump paying Taxes is Bus Drivers, Teachers, Police, Steel Mill workers, paid more in TAXES then Trump did. Trump played the system and now, tonight Trump maybe asked to explain why.

Did you know Steve, Trump paid more to other countries than US

Here, let me run this past you.

The Times: "In 2017, the president’s $750 contribution to the operations of the U.S. government was dwarfed by the $15,598 he or his companies paid in Panama, the $145,400 in India and the $156,824 in the Philippines."

Trump faces a crunch
The IRS audit could force Trump to pay a massive tax bill, on top of millions in personally guaranteed loan debts that are due soon.

The Times: "His finances are under stress, beset by losses and hundreds of millions of dollars in debt coming due that he has personally guaranteed. Also hanging over him is a decade-long audit battle with the Internal Revenue Service over the legitimacy of a $72.9 million tax refund that he claimed, and received, after declaring huge losses. An adverse ruling could cost him more than $100 million."

Who do Trump OWE this money too, Russia?


Tuesday, September 29th 2020 at 1:11PM
Deacon Ron Gray
You know no more about Trump's debt than you do about how much he paid in taxes. All you've got is sound bites Ron and America is too smart to bite.

Tuesday, September 29th 2020 at 1:30PM
Steve Williams
In those so-called sound bites, holds information that, will tonight that Trump may be held by the American people, accountable for his taxes maneuvers and I will be right there to watch that outcome, no matter which way Trump plays it.

This time we, The American people can look at Trumps records on how he has been running this country and that will make the difference.


Tuesday, September 29th 2020 at 2:18PM
Deacon Ron Gray
I wonder what drugs Biden will be on.

Tuesday, September 29th 2020 at 3:08PM
Steve Williams
Is that all you GOT!!! Why do you want to know, do you want to join in on the party if any?

Steve, get back on topic and stay their:

Behind the scenes

This scoop was very, very closely held within the NYT — just like the paper's 2018 Trump tax expose was. I'm told that the reporters on the story have been working "around the clock" ever since they obtained the trove of tax-return data. Sunday's article was described as an "overview" with this note: "Additional articles will be published in the coming weeks." That's what Times reporters are saying in private as well: There's more to come...






Tuesday, September 29th 2020 at 8:35PM
Deacon Ron Gray
Trump confirms, he paid MILLIONS in taxes in 2016 and 2017. I'm sure you were watching Ron.


Tuesday, September 29th 2020 at 10:32PM
Steve Williams
Are you talking about when Biden said: All you got to do is show your taxes and prove us wrong.

Boy, that popcorn was good.


Wednesday, September 30th 2020 at 5:14AM
Deacon Ron Gray
Are you talking about when Biden said: All you got to do is show your taxes and prove us wrong.

Boy, that popcorn was good.

It really looks like Trump paid other counties that he is doing business in but in this country, you paid more in taxes then he did.

According to The Times: "In 2017, the president’s $750 contribution to the operations of the U.S. government was dwarfed by the $15,598 he or his companies paid in Panama, the $145,400 in India and the $156,824 in the Philippines."


Wednesday, September 30th 2020 at 5:24AM
Deacon Ron Gray
Chris Wallace asked Trump directly and Trump answered clearly. He paid millions of dollars in taxes for the years 2016 and 2017. Are you telling me you didn't hear the President Ron?

Wednesday, September 30th 2020 at 7:27AM
Steve Williams
Yes I heard that but I have not seen Trump's taxes, have you? All Trump has to do is show his taxes and prove us wrong.





Wednesday, September 30th 2020 at 8:53AM
Deacon Ron Gray
The NYT says it won't publish the actual tax return documents

Quoting from executive editor Dean Baquet's letter to readers: "We will continue our reporting and publish additional articles about our findings in the weeks ahead. We are not making the records themselves public because we do not want to jeopardize our sources, who have taken enormous personal risks to help inform the public."

Baquet's letter doubled as a defense of The Times against inevitable Trumpworld attacks: "Some will raise questions about publishing the president's personal tax information. But the Supreme Court has repeatedly ruled that the First Amendment allows the press to publish newsworthy information that was legally obtained by reporters even when those in power fight to keep it hidden. That powerful principle of the First Amendment applies here."

Wednesday, September 30th 2020 at 8:55AM
Deacon Ron Gray
You're not going to see Trump's taxes. Trump is an American citizen and as an American citizen his taxes are private. Just like my taxes are private and your taxes are private Ron. I take the President at his word.

Wednesday, September 30th 2020 at 9:00AM
Steve Williams
Trump said he had filed financial disclosure forms and “you get far more from that than you could ever get from a tax return.” THAT IS A LIE. Such forms don’t reveal effective tax rates, charitable giving and how the president complies with, or benefits from, tax laws.

He said, “Nobody turns over a return when it’s under audit.” THAT TOO IS A LIE. Because Richard Nixon did just that during his presidency. Plus, most sitting presidents since Jimmy Carter have released their tax returns, despite the fact that presidents are automatically subject to an annual IRS audit.

During the 2016 presidential campaign, Trump refused to release his tax returns, bucking a decades-long tradition. Every major party candidate for president since 1980 has released tax returns during the campaign. Even in the 1976 campaign, Jimmy Carter publicly released tax returns, while Gerald Ford revealed a summary of his returns.

“Every other major party nominee since then has released complete tax returns: not just summaries, not just a Form 1040, but the whole thing,” Joseph J. Thorndike, director of the Tax Analysts’ Tax History Project, told us when we wrote about this issue in 2016. “That’s been standard practice and that’s what voters have come to expect.”

Some candidates have released returns for considerably more years than others: Republicans Mitt Romney and John McCain released two years of returns, while other nominees have released at least five. Democratic nominee Hillary Clinton released returns for eight years.

But Trump has released none, even after he was inaugurated.

Now that Democrats have won control of the House in the midterm elections, they could use subpoena power to demand the president’s tax returns. Trump was asked in a press conference the day after the midterms whether he would release those coveted returns.

Wednesday, September 30th 2020 at 10:53AM
Deacon Ron Gray
The Democrats won't get Trump's returns Ron. Neither they nor you have any right to see them.

Wednesday, September 30th 2020 at 11:22AM
Steve Williams
So you really don't want to deal with that LIE Trump just told you:

Trump said he had filed financial disclosure forms and “you get far more from that than you could ever get from a tax return.” THAT IS A LIE.

. Such forms don’t reveal effective tax rates, charitable giving and how the president complies with, or benefits from, tax laws. Steve, Richard Nixon did just that during his presidency. Plus, most sitting presidents since Jimmy Carter have released their tax returns, despite the fact that presidents are automatically subject to an annual IRS audit.

TRUMP don't want to to release his tax forms because he don't want the public to know how smart he really is...



That is a FACT.

Wednesday, September 30th 2020 at 11:51AM
Deacon Ron Gray
I haven't seen the financial disclosures. They wouldn't mean anything to me. I'm not even curious.

Wednesday, September 30th 2020 at 12:40PM
Steve Williams
I also think YOUR interest is morbid.

Wednesday, September 30th 2020 at 12:42PM
Steve Williams
YOUR WORDS: I haven't seen the financial disclosures. They wouldn't mean anything to me. I'm not even curious.

MY REPLY: You are NOT even curious, if the seating president of The United States of America was bound to Russia, China, India or some dictator in The Philippines because a debt owed?

YOUR WORDS: I also think YOUR interest is morbid.

MY REPLY: By the way Steve, "THANK FOR THAT POWER."

Now let's get back to this topic. The Times: "In 2017, the president’s $750 contribution to the operations of the U.S. government was dwarfed by the $15,598 he or his companies paid in Panama, the $145,400 in India and the $156,824 in the Philippines."

Would you still be faithful to Trump if, this information was verified, that debt was owed?




Wednesday, September 30th 2020 at 6:01PM
Deacon Ron Gray
I'll never know what this information is and neither will you Ron.

Wednesday, September 30th 2020 at 7:16PM
Steve Williams
There was no way I'd ever try to to do my own AMT. I left that to my accountant.

Wednesday, September 30th 2020 at 7:19PM
Steve Williams
If this information is verifiable, then we will all will know Steve and that is what TRUMP don't want you to know.

Would you still be faithful to Trump if, this information was verified, that debt was owed by Trump?






Wednesday, September 30th 2020 at 7:47PM
Deacon Ron Gray
This information won't be verified.

Wednesday, September 30th 2020 at 8:18PM
Steve Williams
People like you thought The Times' front page on Monday has a six-column, two-line headline — which is just about as big as it gets in print. The headline says "PRESIDENT'S TAXES CHART CHRONIC LOSSES, AUDIT BATTLE AND INCOME TAX AVOIDANCE," wouldn't come out neither but it did.


Wednesday, September 30th 2020 at 8:42PM
Deacon Ron Gray
Keep trying Ron if that's what floats your boat.

Wednesday, September 30th 2020 at 11:48PM
Steve Williams
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