Friday, April 28, 2017

How Trump Withholding His Tax Return is Affecting Tax Reform

Since his campaign, President Trump has refused to release his tax return documents to the public. He is the first president in four decades to not release those documents. By doing this, most of us have assumed that the (hard-hitting and nonstop) criticism he's receiving for not releasing those documents is more tolerable than the criticism he'd receive for whatever is actually on those documents. So what does this have to do with the new tax reform policy?

Well, this lasting criticism has undermined the unity of the Republican party and jeopardized their chances of successfully passing a tax reform. Democrats have used this dilemma as their main argument for voting against whatever tax reform the Republicans are going to have drawn up. Trump's complete unwillingness to release his tax documents puts the Republicans in a bind. Republicans want to talk openly about the bill they've planned and why the American people should get behind it - but they will not be able to do this without revealing how their own President would be affected by it. The goal of the Republican party regarding tax reform is to make a big tax cut, regardless of how big of a repair the reform is for the system, and this will be difficult with a strong opposing argument from the Democrats.

Trump withholding his personal taxes offers the Democrats a way to create a great debate - one that captures the attentions of many. The longer he withholds them, the more attention he draws and the more important each politician's vote for the tax reform bill becomes. With this ongoing dilemma, it's going to be difficult to find a solution that pleases one side. I believe that our President should absolutely release his tax documents to the public, no matter what the consequences to follow are. We cannot build a tax reform bill that Americans are supposed to abide by if our President doesn't do the same. I definitely anticipate the release (or the further withholding) of these documents.

1 comment:

  1. From the Politically Correct-ish’s blog, an article, “How Trump Withholding His Tax Return is Affecting Tax Reform,” provides arguments for why Donald Trump should release his tax returns by claiming the unity in the Republican party is ripping at the seams which is resulting in an unsuccessful tax reform bill.

    She begins by stating that the possibility of the release of his tax returns might result in widespread anger and frustration. Despite this, she argues that his tax returns are imperative for Republicans to come together in order to openly discuss the bill. With that argument in mind, I don’t believe Trump releasing his tax returns would benefit the economy. Trump should definitely be open about what every president has been open about in the past. His interests would be revealed and his true intentions would be recognized. However, the tax reform bill Republicans have in mind is one that would cut the taxes of the top businesses from 39% to 15%. Personally, I believe the more you make should require you to pay more taxes. Quite simply, the tax reform bill is unacceptable which is why Democrats are voting against the bill. With or without his tax returns, the bill would still be considered unsatisfactory. By this sense, releasing Trump’s tax returns should have no effect on how Congressmen should vote since their vote must be on their belief of whether it is good or bad for the economy.

    She goes on to examine how the tax reform bill could have a dramatic effect on Trump as well. She claims he must release his tax returns so politicians and citizens can truly understand how it would benefit him. Despite his possible advantages, she argues Trump should release his tax returns, “no matter what the consequences to follow are.” I agree with this claim. Cowering behind an audit does not allow him to be excused from years of tradition or from the criticism of citizens. In conclusion, I don’t agree with the author’s first reason to release his tax returns; the beliefs of the Congressperson should be what determines whether the tax reform bill gets passed. Yet, I also believe Trump should release his tax returns. After all, if he is such an honest man, then why not?

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