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Eric Trump: It Would Be ‘Foolish’ for Donald Trump to Release Tax Returns

Candidate's son warns 'people who know nothing about taxes' would scrutinize them

Eric Trump, show in a July file photo with his father at a campaign rally in Scranton, Pa. ENLARGE
Eric Trump, show in a July file photo with his father at a campaign rally in Scranton, Pa. Photo: carlo allegri/Reuters

Eric Trump said Wednesday it would be “foolish” for his father to release his tax returns and subject them to scrutiny by people who don’t know what they are looking at.

“You would have a bunch of people who know nothing about taxes trying to look through and trying to come up with assumptions on things they know nothing about,” Mr. Trump said on CNBC. “It would be foolish to do. I’m actually the biggest proponent of not doing it.”

The Republican presidential candidate has said he can’t release his tax returns until the Internal Revenue Service completes an audit.

His son reiterated that reason Wednesday, saying there is “no tax attorney in the world who will tell you to release your tax returns while you’re under a standard routine audit.”

Every major party candidate since 1976 has released their returns.  Democratic nominee Hillary Clinton and her running mate, Tim Kaine, released their returns earlier this month.

Mr. Trump’s running mate, Mike Pence, released a federally mandated disclosure form Aug. 18, and has said he intends to make public his tax returns before Election Day.

But Eric Trump said his father’s returns – a stack of documents “five feet tall” – would reveal little.

“You don’t learn that much from a tax return, in all fairness,” he said.

Tax returns don’t reveal someone’s net worth, but they would show what Mr. Trump claimed as income, how his businesses are organized, how much he donated to charity and how aggressively he attempted to minimize his tax burden.

– Richard Rubin contributed reporting to this article.

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29 comments
Dan Caldwell
Dan Caldwell subscriber

Might be prudent to muzzle Eric - the contempt of a trust fund baby for the unwashed masses keeps showing

DAVID CAY JOHNSTON
DAVID CAY JOHNSTON subscriber

 Donald Trump's 1984 income tax returns had badges of fraud, as shown in my bestselling book The Making of Donald Trump. Under oath Trump's CPA/tax lawyer disavowed the 1984 return, saying his photocopied signature was on it, but he did not prepare the return, which had a Schedule C with $600,000+ of business expenses against $0 income. So who did prepare and file that return?

 Public records show Trump paid no income tax in 1978, 1979, 1984, 1992 and 1994. Explanations for this  are in Perfectly Legal, the 2004 Investigative Book of the Year. Trump's youthful tax-free living is also explained in my 1992 book Temples of Chance.

  Trump's 1978-2008 returns (audits are closed, Trump says) would allow those of us with deep knowledge of tax to establish a great deal about Trump's finances and wealth.

   Trump has testified his net worth  fluctuates based on his emotional state, as The Making of Donald Trump reports. By his own standard, Trump should release the 1978-2008 returns.

Bob Acker
Bob Acker subscriber

Keep it up, you snotty little dunce.  See what good it does you.


DONALD ADAMS
DONALD ADAMS subscriber

Obviously you don't know much about tax returns.  They provide a world of information.  If you're worried that someone might misconstrue them, then have your own experts tell us what our lying eyes are deceiving us about.  Otherwise, Mr. Bwana Hunter, isn't there a big game safari to attend while we Americans go on with the business of electing a president.

Michael Johnson
Michael Johnson subscriber

Eric, Can you send us the Cliff Notes on tax returns since we're not bright enough to understand them?  I guess Warren Buffett's tax attorney doesn't know that "no tax attorney in the world who would tell you to release your tax returns while you're under a standard routine audit."  The public would like to know about Don's sources of income (Russia, international bad guys ?)  Also since Don likes to brag about "all the charities I give to" we would like to see proof.  Finally even if the unwashed cannot understand the returns there are extremely, tremendous tax experts who will certainly examine and comment about your father's returns.  What are you afraid of?  You sound like the voice of someone who grew up with great privilege but is not willing to give back (woke up on third and thinks he hit a triple).

Michael Moore
Michael Moore subscriber

"Eric Trump said Wednesday it would be “foolish” for his father to release his tax returns and subject them to scrutiny by people who don’t know what they are looking at."


Perhaps Eric would also agree that it would be "foolish" for the American people to elect as President a man who does not know what he is talking about most of the time.

Jack Craven
Jack Craven subscriber

I think the American people need to learn more about the Clinton Foundation and its ties to the State Department when Hillary was SoS.  There is a great deal we do not know about what went on behind the scenes, and how it affected foreign policy, and whether or not our vital national interests were impacted.  How can any voter rationalize or justify "pay for play" schemes that are being discovered every day now with more of those previously undisclosed emails from Clinton?  It is only going to get worse for her and her campaign because of this issue, and other topics, such as her poor health.  The Democrats can only hope that there is a potential distraction with the release of Trump's returns........................  

DONALD ADAMS
DONALD ADAMS subscriber

@Jack Craven  Stay on topic.  Its about Trump's tax returns.  Where does the Clinton Foundation appear in the article?  Where does Trump's tax returns fit into your post.  You are obviously auditioning as a Trump surrogate.

John Lusk
John Lusk subscriber

@Jack Craven When Congress takes "contributions" from well off people and Corporations what do you call that? We as a society have to get money out of politics completely!! If I donate $10. to my favorite politician

.. and someone else donates100K who do you think the politician is going to listen to?

Holly Mottai
Holly Mottai user

I agree totally.  I don't want to hear news releases every day for the next two months about some moronic item a know nothing digs up in his return.  I want to hear more from the main stream media about how they intend to white wash Killary's Pay to Play racketeering scam she ran while Secretary of State.  Anyone who thinks it will stop if she wins is delusional.  

Jeffrey Anderson
Jeffrey Anderson subscriber

Ignorance is bliss. You won't have to hear anything negative about Donald Trump.

BTW, you are aware that Donald Trump hasn't released any of the details of HIS family foundation? He's criticizing Hillary for things he won't disclose.

Jerome Abernathy
Jerome Abernathy subscriber

Of course it would be foolish.  Trump has things he wants to hide.

Crawford Taylor
Crawford Taylor subscriber

He could just release a few things such as his tax rate and how much he contributes to charity, without releasing his total return.  We all know why he won't so it will continue to be an issue.

Michael Wiley
Michael Wiley subscriber

He may not have his Eddie Munster hair style anymore but he is still an ugly rich brat.

Tom Channing
Tom Channing subscriber

LOL.

So Trump is concerned that a bunch of idiots are going to pour through every line of his tax returns and sensationalize every little thing. I wonder where he got that idea?

Meanwhile Hillary Clinton has release her tax returns for the last 30 years, her family foundation has every detail of their operation made public in their filings, she has had all of her emails when she was in office released to the public and has had her party's emails released to the public by Russian hackers.

Hillery Clinton will be the most transparent president in the history of the USA.


Matthew Zobian
Matthew Zobian subscriber

Yet another failure of the Trump campaign. Who didn't see this disaster coming?

Julie Keene
Julie Keene subscriber

More excuses. Get a team of forensic accountants to review them thoroughly and issue a joint report answering the questions most of us are concerned about. In order, for me:

1) How financially involved with the Russians is Trump? What would happen if they called their loans?

2) What other business involvements might pose conflicts of interest?

3) What is his tax rate?

4) How much has he give to charity over the past five or six years?

These are material concerns.

Karen Thomas
Karen Thomas subscriber

The media/pundit tax return push is a farcial issue selectively used to denigrate the opposition. Usually republicans. 

Trumps son is correct. Show me a list of numbers and I'll show you a list of misleading talking points. 

If Trump was a crook, he'd be in jail. Of course the media ignores Clinton who actually should be in jail.

Tell the media to shove it. 


edmund knaysi
edmund knaysi subscriber

I am more interested in medical records than tax records.  Health affects a President every day because it impacts energy, focus, and general outlook.  The tax stuff is more "gotcha" than anything else unless the manner of enrichment raises issues.  That is HRC's problem in fusing government salary and family foundation business in an arrangement where no completely effective firewall could ever have been constructed, and where it appears no effort was made to even try for a partial one.  


For Trump, it is prurient interest---is he worth as much as he claims?  Did he give a decent percentage to charity?  All in all, details that are more interesting than they are relevant.  There are so many more fundamentally important reasons to possibly not vote for Trump, but they won't appear on a balance sheet or tax return.  HRC's quick journey from rags to riches is relevant because what she did and how she got there goes to the heart of who she is and how she might act as President.

edmund knaysi
edmund knaysi subscriber

@Daniel Herkes @edmund knaysi There is a way to do it without providing the data from urine samples.  It has been done before while protecting confidentiality by using a panel of doctors to review current medical records and certify in general terms health status.  It would be nice to know if we are really voting for Kaine or Pence.

Donald DeWitt
Donald DeWitt user

@edmund knaysi  Just out of curiosity -


Would FDR's disability and being in a wheelchair have been a reason to vote against him?


Would JFK's health problems have elected Nixon earlier?


What weight should be given to health relative to other issues? 


I think that a baseline ability to understand and do the job is key in leadership, not the ability to do an all-nighter or lift a 22 pound box every couple hours.


With this in mind I question the MENTAL fitness of a sociopath like Trump - but since mental health screening is voluntary, we will never have the medical records covering that aspect of his health to flesh out why he can't resist name-calling, Twitter wars, and temper tantrums (none of which are fit for a functional adult, much less a President).

Daniel Herkes
Daniel Herkes subscriber

Not releasing the tax return is harming the campaign, but the release would be a catastrophe at this point.  Trump is correct.

Donald DeWitt
Donald DeWitt user

@Daniel Herkes  Well Trump's returns could be clean of problems - he does have teams of dozens of accountants and lawyers who prepared them over the years...


If he falls 20 points behind in the polls and then releases them that would be the worst outcome - why not pull off the bandaid before the first debate and settle it? 


If the Foundation is HRC's Achilles heel - the tax returns are his (with swing voters).

Donald DeWitt
Donald DeWitt user

Donald and Eric Trump both have the same amount of experience in politics - zero.


NOT releasing tax returns CREATES AN ISSUE FOR TRUMP'S OPPONENTS - especially when Trump wants to jump all over HRC on the Foundation issue.


The core premise of the Trump campaign is selling Trump as a success.  The $10 billion lie of Trump's net worth won't survive a tax return with differing data.  The "I am generous with charity" lie won't survive either.


A tax return is a source of facts, and facts are poison for a campaign built on fiction and emotion.

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