Republican Owns Democrats Tells Them It’s Against The Law To Force Trump To Release His Tax Returns
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[Republican Owns Democrats Tells Them It’s Against The Law To Force Trump To Release His Tax Returns]
[Mr. Lewis (Chairman):] Source: LYBIO.net
Whether a President, Vice-President, or any candidate for this office should be required by law to make their tax return available to the public.
[Mr. Kelly:] Source: LYBIO.net
In today’s hearing I want to start by stating the obvious – all Americans, every single American has the right to privacy and personal information contained in their tax-return.
That’s why we have a Statue in law 61-03 that covers every American from the President, to your next-door neighbor, and your family.
It mandates that the federal government must keep tax returns and tax return information private.
Congress enacted taxpayer protections embedded in section 61-03 of the tax code, to ensure that every American’s privacy and to prevent the use of taxpayer information being made public.
Americans should be able to trust that the Federal government or some elected bureaucrat in Washington is not going to publicly release their tax returns without the taxpayers consent.
Tax returns can have a lot of sensitive information in them; it’s not just all income and expenses and deduction.
There’s information on where you live. What you do for a living. What kind of car you drive. Information on your bank account. Which cell phone is yours. Whether you have health insurance and the names and Social Security numbers of your spouse and all of your children.
Keeping this information confidential is critical to the integrity of the US tax system, which is only functional because taxpayers voluntarily pay their taxes.
According to the National Taxpayer Advocate, 98% percent of all tax revenue paid by American taxpayers is paid voluntarily.
That means that only a small 2% percentage of taxes are collected through audits and enforcement.
98% is voluntarily paid.
98% of anything is a lot – so I have to take a closer look and ask why?
I believe this is because of the trust the American taxpayers have in our system and in the privacy – is that the foundation of that trust.
Now some of my colleagues on the other side of the aisle have suggested using this committee as an avenue to obtain and release the President’s tax returns – in the name of transparency.
[Mr. Kelly:] Source: LYBIO.net
As leaders of the Ways and Means Committee, I don’t believe we have to choose between protecting privacy, and promoting transparency among public officials.
To begin with Congress is prohibited by law from examining and making public the private tax returns of Americans for political purposes.
Such an abuse of power would open a Pandora’s box – it would be tough to get a lid back on.
It would set a very dangerous precedent and the question is where does it end?
What about the tax returns of the Speaker, Members of Congress or federal employees, or for that matter – any political donors?
There is no end in sight for those whose tax information may be in jeopardy.
Thankfully violating taxpayer privacy is not the only option for increasing transparency.
I support the current ethics review in place which ensure that Presidents and Vice Presidents are held accountable to taxpayers.
My colleagues on the other side of the aisle have voiced the need to have experts review the President’s tax return with a fine-tooth comb, but isn’t that the exact reason why the IRS – the agency with just that level of expertise conducts mandatory audits of the President and Vice-President every year.
Yes, that’s right the IRS audits the President and the Vice-President every single year whether he or she is a Republican or a Democrat.
I don’t think most Americans know that’s the case. I certainly didn’t know it until I started doing some research myself and inquiring.
In addition to is IRS audits, there are also financial disclosures required.
If my colleagues have a valid concern with the financial disclosure requirements then let’s come together to legislate a thoughtful solution to require additional disclosures.
If there were challenges in obtaining required documents for disclosure then lets looks at how we can make that process better and more transparent.
[Mr. Kelly:] Source: LYBIO.net
But the reckless sharing of a taxpayers private information for both political purposes would be unprecedented and completely outside the bounds of Congress’s role as a legislative body.
Republican Owns Democrats Tells Them It’s Against The Law To Force Trump To Release His Tax Returns. All Americans, every single American has the right to privacy and personal information contained in their tax-return. Complete Full Transcript, Dialogue, Remarks, Saying, Quotes, Words And Text.