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There’s no point in Presidential candidates disclosing their tax returns. With a year or two preparation, you can make your tax return say whatever you want. I
by pyuser583 3y ago
There’s no point in Presidential candidates disclosing their tax returns.
With a year or two preparation, you can make your tax return say whatever you want. Its only purposes is to determine taxes owed for a given year. That’s it. Not provide a summary of your financial interests.
I’ve personally seen political candidates structure their lives in a way so that their tax return says nothing.
One candidate and her husband sold massive business interests two years before running, with no expectation of payment until after the election.
Those tax forms honestly said they had no income and no business interests.
Which is legit, because the IRS is about getting the money it’s owed, not providing transparency into an individuals financial incentives.
- outworlder 3y ago> With a year or two preparation, you can make your tax return say whatever you want Which is why they usually disclose more.
- pyuser583 3y agoWhen a person applies for a sensitive job, usually have to declare their assets and accounts. Assets and accounts aren’t taxable, so don’t appear on income tax forms. Tax forms really aren’t about transparency at all.
- jwestbury 3y agoCorrect. When I held a security clearance, I had to file financial disclosures every other year, detailing every asset and debt I had -- bank accounts, loans, cars, boats (LOL), retirement accounts, cryptocurrency, everything. Positions like President should have to disclose most of this information publicly -- lightly redacted, so no need to publish their bank account numbers, but the figures and institutions should be public knowledge, or at least metadata about institutions.