How Bad Could Trump’s Tax Returns Really Be?

How Bad Could Trump’s Tax Returns Really Be?


all right, let’s get into audience questions
for the week. Of course. Questions submitted by you. If you have questions that you would like
answered on this segment, just go to our website, David pakman.com send an email using the contact
[inaudible] first one. Hey, David. At this point, what could really be so bad
about what’s in Donald Trump’s tax returns that he still is fighting so hard to prevent
their release? Yeah, this is true. I mean the guy’s being impeached and there
are still all sorts of proceedings meant to hide Donald Trump’s tax returns. I won’t give you the full list of the different
mechanisms that have been attempted in order to try to obtain those tax returns. So let’s go through the list from the beginning
that we speculated was the justification for why Donald Trump didn’t want his tax returns
released. We’ll talk about how likely each of them is,
but then also more importantly whether it would still matter. I think that the reason now Trump wants to
hide the tax returns is different than what it was four years ago. First, we speculated maybe Donald Trump doesn’t
really make nearly as much money as he claims to and or although tax returns wouldn’t necessarily
show net worth, they would suggest that the net worth Trump claims is likely overblown. This could be a blow to Trump’s ego. Trump is obsessed with status and how he’s
perceived and wants to be seen as rich and all of this stuff. That’s one possibility. The other possibility we speculated about
was that there would be liabilities or um, uh, uh, entanglements exposed by his tax returns
that would be politically difficult for Trump. One was, he’s in huge debt to Russia. He took money from Russia. He’s way more tied in with Russia, uh, than
he has admitted that may be at this point, if that went public, I don’t know that it
would really be very damaging to Trump. It might be embarrassing to some degree, but
the Republican party at this point has a completely bought hook, line and sinker the story that
there’s nothing wrong with anything Trump did with Russia. Anytime Russia comes up, it’s a witch hunt. It was a hoax, whatever. I actually don’t think it would even be that
damaging if that was revealed, but that’s another possibility for what’s in Donald Trump’s
taxes. The other possibility is that there will be
discrepancies, um, uh, made, made public between Donald Trump’s, um, uh, private claims or
claims for lending purposes about the value of different assets and the ones that he claims
for tax purposes. So you might, if you’re using a certain, uh,
asset as collateral for a loan, when you apply for the loan, you claim a much higher value
to make you look like a better, uh, lending risk to the bank. But for tax purposes, you want to minimize
the value of that asset in order to pay less in taxes that depending on how the accounting
is done and how much of that stuff is on his personal taxes anyway, you may or may not
be able to glean that from personal taxes. In any case, it would be indicative of a crime,
I believe. Because in New York city you’re not allowed
to sort of have double books as it were, where you value assets differently for different
purposes. According to one accountant I spoke to, but
it sort of exceeds our scope. And again, politically I think his followers
would just say that that’s smart, that that’s, that’s all that is. There’s speculation that maybe some kind of
other crime would be exposed by Donald Trump’s taxes. I don’t buy that at all. If Donald Trump committed crimes that are
financial crimes, um, he has his, uh, professional accountants prepare taxes. I can’t imagine that a professional accountant
would plainly expose that some kind of crime has been committed. There might be something that alludes to one
that would require more research and other documents. I think at this point, the real reason Donald
Trump is still fighting this hard to hide his taxes are either number one, just because
of the income net worth thing. To the extent you could glean it because of
his ego or it’s just Trump doesn’t want to take the loss images. What matters to Donald Trump? If Trump wants his taxes to be private, Trump
wants to win the fight about keeping his taxes private and there’s really nothing for him
to gain by releasing them. At this point. It is only downside risk. Even if we agree the risk isn’t that great
that his followers would essentially justify, rationalize anything that’s in the taxes. It’s unlikely that there is an obvious crime
in the taxes and even if there is, Trump has been completely Teflon when it comes to everything
that he’s done that does or potentially breaks the law. I think now it’s just downside risk. There’s no advantage to releasing the taxes. Trump wants the win and that’s mostly what
it is right now. If you have a different view, let me know.

100 thoughts on “How Bad Could Trump’s Tax Returns Really Be?

  1. Trump received Russian money via companies in for example the Netherlands. That is common knowledge. In his tax returns, the scheme can be very specific. How he did this and which companies are involved and also who is involved. Trump does not want to expose this unless he cannot hide it anymore and then he will try to spin the truth as much as he can depending on the situation, he is in. That is simply how Trump operates. He hides as much as he can and when it comes out, he spins the truth depending on the situation. The GOP members are all involved but only Trump knows how. He has a good instinct to blackmail each one of them in every situation. He knows every weak spot. That is how he works.

  2. What about his earnings? If he is supposedly divested of his properties and not taking a presidential salary, any earnings he's made during his presidency would be suspect right? Or is there some kind of loophole around this? Or am i just wrong in my thinking?

  3. I dont think they are bad. I really think this is one of the moments trump actually has brains. Hes using that as a diversion. He wants us go waste time for years trying to see them and when we do it's a big bust and everyone laughs

  4. GOP are a bunch of coverups. Wanting no witnesses like a CIA’s coup and that’s bad for America even for every action.

  5. I think part of the reason he doesn't want his taxes released is that it will show that he hasn't/doesn't donate (at all) and it will show he doesn't pay nearly what he should. If the average U.S. citizen is paying 8%, he doesn't want people to see he is only paying 2% or nothing at all.

  6. There are people who defended serial killer Ted Bundy and denied facts that he murdered anyone. People will never stop falling for a con artist. Now that trump has been in power for over three years, his supporters have so much invested in him that they will defend him more vociferously than ever. And they will do this without a shred of shame.

    Despite short term gains of the right wing agenda, eventually we will all pay a very heavy price. Our children will pay a heavier price, and our children’s children will pay the heaviest price of all.

  7. I think it is much simpler: Trump has massive loans in Deutsche Bank – they are guaranteed by Putin.
    Now if his tax-return reveals that is just the horrible credit risk, then Deutsche Bank will call in the loans – and they will just bill the losses to Putin if those loans are not paid in full immediately.

  8. Folks after the Senate vote yesterday he now can do anything he wants. Unless there's a leak no one will see any tax returns. SNDY is still part of DOJ an Barr at somepoint will shut them
    Down. All the reporting by news agencies for now is useless information. Impeachment now is mute as long as the Senate an SCOTUS are under Republican control.
    The only hope for the Republic now is to vote him out if we even have an election in November.

  9. I say all of the above. trump is owned by the Russians. He has committed tax fraud. He has devalued his properties and or inflated their values to gain money or pay less in taxes. He has cheated our country, with his deliberate bankruptcies, to pay pennies on the dollars he owed. He has lost one billion dollars in a ten year period of time. He has bankrupted his trump casino, when casinos only make money, never lose money. He has stiffed his contractors and that would show up in his taxes. His ties to the Russian mob would show up in his taxes. His illegal importation of undocumented workers would show up in his taxes. His charity frauds would be more pronounced. His over all pathetic life style would be evident. His criminal acts would be very, very evident. His true worth will show he is a con artist of the worst kind. It will show he presently is a parasite, sucking off the US tax payer, and looking for new ways to attach his mandibles to our life’s savings to both pay his installers and fill his endless greedy void.

    This is wearing on him. It’s showing. He is aging rapidly right before our very eyes. He is becoming demented right before the nation. His implanted hair is falling out in clumps. His dick is shriveling, trying to hide into his fat body. He is growing weaker and weaker. He is regressing back into the Protozoa/Amoeba he was before becoming a reptile. Sooner or later “the truth will out!”
    2020, the truth hammers down on trump! He knows it, we know it. Can’t wait!

  10. They say real estate is rife with money laundering. And Russia has loads of money laundering needs. See: Deutsche Bank.

  11. #1. He's always been broke.

    #2. His financial ties to Russia are more than just deep pockets, it's criminal.

    Do some digging into the Trump Panama Hotel. This is purely a mechanism for money laundering for Russian state theft and Columbian drug cartels. Two people have been murdered to keep this story quiet.

  12. How did this guy get away without showing his tax returns and they let him run for office. Trump has never done anything he is told to do.

  13. First I think there are multiple crimes revealed by his taxes. The IRS is forbidden by law from sharing evidence of criminal activity with law enforcement. You could literally report your earnings as a hitman and nothing would happen. So Trump's accountants do report all of his sources of income which would inevitably reveal his income from money laundering schemes (the evidence at this point that most if not all Trump organization projects of the last decade were just cover to launder money is overwhelming).

    Second it would certainly reveal his net worth and income are no where near what he claims.

  14. Presuming Trump and the people he hires dot all their i's and cross their t's, then there might not be anything in there other than a pride hit for Trump (and more proof of his eagerness and ease of lying). But that is presuming competence of a party that has repeatedly proven brazenly incompetent. I would be shocked if actual in depth analysis of his tax returns provided no discrepancies at all, it could even provide direct proof of fraudulent activity. Just because republicans might not act on that currently, doesn't mean we shouldn't be accumulating evidence.

  15. Narcissist's know they are dirty, But they need to prove to everyone else that they are not dirty! Egocentric to the point of stupidity.

  16. I think he was on the verge of bankruptcy again and now we're going to see how much money he's made off the White House and all the campaign contributions that he has stolen…!!!

  17. Love ya David, but, you do not believe his personal accountant would do something illegal for him when one of his personal lawyers is in prison and another really should be facing charges…

  18. David, you just said, even if it's according to his followers, if you cheat the tax code, "That's smart." Infuriating.

  19. In AC he didn't make any money with the casinos and the state and city gave him a 16 year tax deferment. How sad is that. Do you know any casino owner that never made any money, followed by Bankruptcies. No taxes paid, except by we the people and now the city is a great big ghetto, and he laugh his head off . Hay look at me I GOT OVER ON ALL OF YOU

  20. I think Bank Fraud is the big issue he’s afraid of. It was already reported on MSNBC. His supporters aren’t the important ones here; they’re locked in. It’s the swing voters he needs to keep.

  21. No no no!!! You are wrong about Russia. It isnot to hide his Russian affiliations and liabilities, his documents will show and prove that he is laundring money for a bunch of Russian oligarchs and that this is in violation of a lot of US regulations, up to a serious criminal offense.

  22. His tax returns will expose his insurance fraud, as he under valued his properties to pay lower taxes and over valued them with his insurance company to have better pay outs should anything happen to them.

  23. The Repugnacons have played all their cards, and can expect a huge backlash over the coming weeks & months. Any clear minded voter will not only vote them out, but will also write to their representatives right now.

  24. He said he'd release them, now he is going to extremely measures to prevent them from being released…
    He's clearly hiding something bad. Either way, he's breaking his word.
    His supporters, and the GOP don't care. He could rape their wives, they'd find a way to rationalize it.

  25. The GOP is becoming an alternate ruling body, attempting supplant the US government. A cancer.
    They just blacklisted mitt romney from cpac for voting for witness testimony.
    This guy was their TOP candidate to run for POTUS in 2012, and they basically kicked him out of the party cause he wanted the truth.

  26. His entire life is dominated to a pathological degree by his fragile ego, so whatever the motivation(s) for hiding his tax returns is that ego will be the main impetus behind it for sure.

  27. hiding his tax returns shows he is trying to hide corruption or lies. if he wants to win something, why not winning in trade wars, reduce the deficits????

  28. tax returns, school records, health records… his whole life is based on crime and lies!
    In 2016, during a debate, he admitted to tax evasion… Hillary was saying his tax returns (the ones he had to hand over to get a casino license) showed he hadn't paid federal taxes and his response was "that makes me smart" (with that usual smug face of his). It's more than known that he participated in all kinds of fraud to evade taxes. If he used 10% of the energy and creativity he uses to evade taxes to do something good for society, he would have already found a cure for cancer…

  29. He’s not as rich as he says, he’s evaded paying taxes for who knows how long, & there’s no doubt he has loans and financial ties with mobsters and foreign powers. Of course he’ll never reveal them.

  30. Well, a Danish journalist went to Miami to talk to a friend of Trump, they went to his boat for a day trip with some of his friends , he said this trip will approx cost 300.000 $, it is small change but if people knew how rich we are they would hang us, if the knew how much we pay in tax they would hang us he said, it must be Trump included…

  31. How much does he deduct for that orange paint he smears on his face and the hair spray to keep that bird's nest on his head?

  32. Regardless of what the tax returns show, Sean can spin it to make him look like a business and tax genius. There's no risk there.

  33. Personally, I believe that all roads lead to Russia and that its based on business entanglements and loans. Since he has hundreds of companies, it's very, very difficult to get an oversight, but his taxreturnsvis just a little thread in all of this and he doesn't want anyone to add this to other information.

  34. In the first grade, we learned that George Washington could not tell a lie, the room was silent. Now for future generations, they'll learn about George…then they'll learn that Donald Trump could not tell the truth, laughter will fill the rooms. Nice legacy

  35. David, he’s still hiding his school grades and we all know he’s dumb (cat’s out of that bag). As Freud wrote “its ego, man”

  36. The country has much more in common with North Korea and Russia today and it did yesterday. A day that changed everything. 🇺🇸

  37. How dangerous for the future is the failed impeachment? Trump and the Republicans have ignored subpoenas and avoided facing the truth – if Trump wins in 2020 how much worse could it get?

  38. I will say he is flat broke and deep in debt to Russian and other foreign banks. In the end he will be homeless or in prison but still broke

  39. DJT is owned by Russia they saved him after the MULTIPLE bankruptcies. Should people trust him with our treasury. What a joke

  40. Lmaooo the world will never know!! This dude is the 🐐 he can do whatever he wants stealing the election again n there’s nothing we can do about it hun

  41. All these anti-Trump channels are really grasping at straws. They may have even scratched through the bottom of the barrel to floor itself.

    The sad thing is CNN the network I can't stand has even admitted that Trump will win and none of the Democratic contenders are barely a threat to him.

  42. Thank god trump is an old fart and not a picture of health. The obese, mentally and physically unfit crotch grabber should die below life expectancy, and the world will throw a party that’ll make Prince’s prediction of a 1999 party look like a little girl’s tea party with all her dolls.

  43. Having people peeking behind the curtain into the reality of the "rich rockstar billionaire President" and seeing him for what he is would serve a blow to his ego. He can't have that.

  44. Suffice it to say, he is scum. He has no place as president of anything let alone of the USA. If it were not so, why is he constantly squirming and hiding his tax returns, school reports etc etc. If he gets in again then the US definately deserves him!

  45. Could it be that Trump doesn't want to release his tax returns because he's been doing tax evasion? He's been lying about everything else so far, the apple wouldn't fall far from the tree.

  46. What happened to the states that said that candidates cannot run without disclosure of years of tax returns? They back tracked?

  47. A COVER UP right in our face. The whole Republican Party is corrupt. I hope the American people remember this in November.

    They just disregarded the will of the people, 75% of the people wanted to hear witnesses. Donald Trump is guilty as sin and should be removed from office.
    We have a lying traitor running the most crooked administration in American history. Congress is also treasonous in their allowing this sorry spectacle to go on and trying to defend the indefensible… Wake up America

  48. Still painful; after three years later of tRUMP’s presidency. Both, Red and Blue always having to clean-up after tRUMP’s continual corruption schemes to rip off Americans of our 37% taxes versus Zero taxes of the 1%. However, tRUMP can now say he has achieved a spot in the history books. He has officially become the first POTUS in US history to have been impeached in his first term in office. No one can refute, by a “UNANIMOUS VOTE” of both the house and Senate; is extremely telling. Murkowski was not yet intimidated by the spineless Right. Kudos to Susan Collins and Mitt Romney for doing whats right against this crooked POTUS!!!

    It never ceases to amaze me what a man will do to get into the Oval Office; Even more amazing what he’ll do to keep it! ~ The Pelican Brief

    All this, for slime-ball tRUMP’s rigged election of (2016), now re-election of (2020). AND, who has already exhausted executive privilege and abuse of power in both accounts for his conman’s personal gains. tRUMP-drones are too st*pid to acknowledge.

  49. Bad enough he still won't release them apparently. Oh, it's going to be fun hearing his same promises over again! "We'll build that wall, and Mexico will pay for it!"

  50. His taxes don’t matter now he’s been made a king..Does America not understand what their War Of Independence was fought for????

  51. Bull hockey, tRUMP’s finances would not be a bad reflection on him!!!! It’s been proven no US banks would lend to tRUMP as of 2013, due to his bankruptcy’s and bad reputation with regards to repayment. Why he/clan obtained loans from a Russian bank. His taxes definitively reflect his indebtedness to his ski-vies, in bed with Russia:

    FBI officials are conducting an ongoing money-laundering investigation into Deutsche Bank. That may also include tRUMP’s Moscow project (albeit not-evolved) evidenced by his signature.

    VTB Bank – The bank that allegedly underwrote Trump’s loans is one of the largest banks in Russia, and is majority owned by the Russian government.

    VTB (Vneshtorgbank) was placed on a sanctions list by the U.S. and the European Union in July 2014 as punishment for Russia’s invasion of Ukraine, ensuring anyone who continued doing business with the bank after that date could be subject to criminal liability

    Trump’s loans were issued by DBTCA, not the main bank (Deutsche Bank), and underwritten by VTB, ensuring that the Russian-owned entity would take the financial hit if Trump defaulted.

    Records show; At the time Trump took office, he owed DBTCA approximately $350 million – nearly 1% of DBTCA’s entire assets. Trump still owes $350 million to the bank, and his daughter Ivanka and son-in-law Jared Kushner owe the bank up to $50 million.

    No question; tRUMP’s being lap-dogged by Putin. tRUMPers non-acknowledgement of the conman squatter in the people’s Oval Office.

  52. (40 Wall St.) On December 7, 1982, five Germans bought the land under the tower from its long-term owner, the Metropolitan Life Insurance Company. The buyers: Stephanie von Bismarck, Joachim Ferdinand von Grumme-Douglas and siblings Anita, Christian, and Walter Hinneberg. Trump, who took out a $160 million loan against his leasehold in 2015 from Ladder Capital, pays the owners $1.6 million a year under the terms of the ground lease, according to SEC documents cited by the New York Times. The Hinnebergs spent the holidays with Trump at his Florida estate Mar-a-Lago this year.(2017)

  53. I don't trust the right-wing judges on the Supreme Court to order his taxes released or even looked at for the criminal case.

  54. 2 things, he can object to being named in regulation alone in violation of the 16th amendment. If american citizens we not named in 26 CFR 1.1-1 the tax code dont apply to americans. Now second how did 26 USC section 83(a) operate in your conclusion he had gross income.

  55. Oh yeah, it's gonna be bad. Worse than you are describing, but trumptards won't get it. Should be enough to get a decent human being into the white house next year though.

  56. Bruh…seriously?! I actually had to double check the date of this video. Bob Mueller had teamed up with the IRS back in 2017. His probe has enlisted the help of agents from the IRS' Criminal Investigations unit. If Mueller didn't find anything in Trump's taxes after his 32 million dollar investigation, I think it is safe to let it go.

  57. Trump is in hock up to his eyeballs his claim to being a billionaire is the amount of money he owes to the deutsch bank and Russia

  58. I hear he like never made any money, just losses. So for a supposed billionaire, that’s so embarrassing, enuf to scramble to keep it from light of day. Now as Pee pee resident he’s making money hand over fist. More reasons to crawl it under a rock

  59. With paper votes Russia can't steal our election (AGAIN)
    If you vote #AbsenteeVotes or #AdvanceVotes they are #PaperVotes.
    Follow Me on Twitter for #ResistanceArt you can share!      @ckbiomechanics

  60. The tax filings would show a lack of valuable physical assets which would in turn raise more questions as to why Deutsche Bank continued lending to him. The massive foreign involvement to get him into the WH was instigated by those who were owed the most.

  61. Latest battle ground state polls! We are slightly ahead in all of them, including N. Carolina, Florida, and Arizona. But being that this race will tighten up to pretty close to 50/50, it is IMPERATIVE we must biggly get out the vote! Tell all your friends! Phone your friends in the battleground states, and tell them statistically the left doesn't vote near as much as the right, though there are more of us! We MUST show up! In November! Sorry to say, Biden is first place in all, but VOTE! It could easily change to Bernie at the top in these states, in fact Bernie is pretty much a statistical tie in a couple of them. But we must show up whoever wins the nomination. Put on your non-pouty face and beat Trump in November! (But always vote every election that exists. The small elections count, though you may not understand why).

  62. Corrupt trump 🤑 and republicans 💩 are the worst government fake leaders in the history of the United States 🇺🇸.

  63. David, what you meant to say was that the Republican Party has drunk the Kool-Aide and is ready to die before seeing what is coming.

  64. here's MY question… how's Trump's TAX AUDIT coming along?
    🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔🤔
    (are they bout done YET?)

  65. How bad could Trump's tax returns really be?????? Bad enough to spend millions of dollars on lawyer fees every year to keep them from ever seeing the light of day. While I do agree that one of the reasons why he doesn't want the public to see his tax returns is because they will show us that he's not as rich as he says he is, I don't think that is the main reason why. Everything in the public record that we do know about his business dealings and tax returns seems to be pointing to one specific thing or rather one specific category, fraud. When Michael Cohen testified under oath, he was asked about Trump's tax returns and explained that if any tax expert were to see them, they would find a goal mine of fraud that goes back decades.

  66. Trump literally said once if he released his taxes he wouldn't be elected. Most likely his claims of being a billionaire are greatly exaggeratated & we already know he's gone through 6 major banqrupcies & we know by some sources he had reported the largest business losses of any taxpayer in the 1985 to 1995 time frame, somewhere close to a billion dollars reported losses. In other words Trump's the biggest looser 😁

  67. Trump’s Bank account has millions in Russian Rubles!!! Putin pays him well for his role in demolishing our country!

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