Donald Trump may believe that with his Roy Cohnesque Attorney General William Barr standing between him and the Democrats, he is safe. He would be wrong. Even though Barr has already perjured himself by lying before Congress and trashed his own place in history, it will not be enough to shield POTUS.
New York state Senator Brad Hoylman (D) has discovered a way to make the president hand over his tax records. Since Trump’s businesses and primary home are headquartered in Trump Tower in Manhattan, he has been subject to New York state laws. Hoylman sent out a tweet announcing that the bill he has been moving forward to make the president share his state income tax records was up for a vote:
‘THREAD: TODAY, THE
@NYSENATE WILL VOTE ON THE #TRUSTACT—MY BILL THAT WILL AUTHORIZE THE NEW YORK STATE DEPARTMENT OF TAXATION AND FINANCE TO SHARE TAX RETURN INFORMATION WITH A REQUESTING CONGRESSIONAL COMMITTEE.’
Former assistant U.S. Attorney for the Southern District of New York Harry Sandick noted that Trump’s state tax returns showing his businesses’ losses and income, should show similar results as his federal ones. The Washington Post reported that he said:
‘THE NEW YORK STATE TAX RETURNS LIKELY CONTAIN INFORMATION THAT IS SIMILAR TO WHAT IS IN THE FEDERAL RETURNS.’
The New York Times just received a copy of the president’s federal tax records between 1985 and 1994. They indicated that Trump’s image of a successful businessman was just a charade. He lost over $11,000 an hour, every hour throughout that decade for a grand total loss of over $1 billion.
Trump ran his real estate businesses into the ground as well as his airline and casino. Then, he became a virtual human shingle, marketing his own brand, which earned him his television show.
Hoylman noted that Trump’s state taxes showed “many inconsistencies:”
‘ONE PERIOD OF TAXES THAT HAS BEEN LEAKED SHOWS MANY INCONSISTENCIES. A LOT OF AMERICANS WANT TO KNOW WHAT ELSE THERE IS.’
Earlier this week, Secretary of the Treasury Steven Mnuchin said the House’s Democrats’ call for the president’s income taxes:
‘(I)N RELIANCE ON THE ADVICE OF THE DEPARTMENT OF JUSTICE, I HAVE DETERMINED THAT THE COMMITTEE’S REQUEST LACKS A LEGITIMATE LEGISLATIVE PURPOSE, AND . . . THE DEPARTMENT IS THEREFORE NOT AUTHORIZED TO DISCLOSE THE REQUESTED RETURNS AND RETURN INFORMATION.’
University of Virginia tax expert George Yin has been consulting with Congressional officials about the president’s financial records. He said:
‘THEY’RE BOUND BY THE CONFIDENTIALITY AGREEMENT THAT APPLIES TO ALL FEDERAL TAX INFORMATION. THEY HAVE TO BE VERY, VERY CAREFUL IN WHAT THEY’RE DOING.’
Professor at the University of Chicago Daniel Hemel said:
‘THE CLAIM THAT NEW YORK CAN’T GIVE TRUMP’S RETURNS TO WAYS AND MEANS IS REALLY, REALLY, REALLY WEAK. NEW YORK HAS A REALLY GOOD ARGUMENT THAT IT’S JUST MIRRORING CONGRESS’S OWN CHOICE ABOUT CONFIDENTIALITY.’
After the vote, this bill still must be accepted by New York’s assembly, where the Democrats have a majority. Then, Governor Andrew Cuomo (D) will sign it. He has already said that he was in favor of the bill.