As you know, the President’s tax returns are the scandal du jour. The New York Times just revealed some of his tax info from 30 years ago.

Suppose you complain about Trump’s tax returns. There is every chance the folks who prepared them would say you don’t know what you are talking about. The New York Times does not.

This would not be a taunt or a putdown. It would likely be a statement of fact.

Consider: Eight years ago GE’s federal tax return was 57,000 pages long. Nineteen feet high when printed. And this was only its federal return. It had doubled in length from only five years before. I hate to imagine what length it has grown to today.

Such returns are standard for big and complicated companies. Such as Trump’s.

Consider: The basic federal tax code is something like 6550 pages long. The case law attached to it is 60,000 pages.

Many columnists, journalists and tv’s bobbing heads are sitting in judgement on Trump’s returns. They are telling you that this means this and that means that.  They don’t know what in hell they are talking about. Many a big-time accountant would struggle to understand these returns.

Wait a minute, Tom.  Trump was declaring big successes those 30 years ago. But his returns showed he was losing money.  He’s a con man.

His tax advisors would snicker at your conclusions.  They would explain that many a healthy company – especially a real estate developer – can be made to appear the opposite. Through various deductions and allowances and deferred matters. All perfectly legal.

Sometimes he didn’t pay taxes!  Unfair! Illegal!

They would laugh at this too. He and his businesses used standard, legal devices to reduce and avoid taxes. Don’t call them loopholes. They are written into the code. If you feel this is unfair, complain to Congress.  Your representatives created our monstrous tax code. Or they allowed the IRS to create it.

And by the way, American hero Warren Buffett escapes many millions in taxes. By using the same devices Trump does.

Congress allowed the deductions, incentives and allowances. They did so, thinking each one would benefit an industry. Or would help the country in some way. Of course those congressguys got paid for their work. In big contributions.  From those who benefitted from the goodies the pols stuffed into the tax code.  

So, do complain that big companies and wealthy people pay no tax. But aim your complaint at your politicians.

The underlying problem is simple. Our pols use the tax code to re-arrange society and business. To them, it is a social engineering tool. They use it to favor this group and punish that group. Other countries use their tax codes to raise money. Period. No allowances. No deductions. No credits. You make X? You pay Z.

But surely, Tom, Trump is doing something illegal. Why else would he hide his returns?

You waste your time worrying about this. That is because there is an army of IRS auditors who feast like maggots on his returns. It is their full-time job, their career. You KNOW they are probably not Trump fans. Leave it to them to catch him up in something illegal. They dream of doing so.

But, but, but… He claimed success. While his returns showed huge losses and bankruptcies.

His advisors will explain that 25 to 30 years ago hundreds of major real estate developers took the gas. During a depression in Big Apple real estate at the time. Trump was pretty clever to survive. And given the hundreds of projects he undertook, his bankruptcy rate was low.

But other presidents released their tax returns!  They did. But none had returns thousands of pages long.  None had the complexities that Trump and his businesses have. (Mayor Mike Bloomberg only released bits of his returns. And only for glimpsing, not copying.)

Bottom line: If you think his returns show our system is unfair, complain to the guys who created it. Our tax code encourages and instructs people to limit their taxes legally.

If you feel he bragged about his wealth when his companies were suffering, fine. There is many a Barnum out there. And he did survive when others foundered.

If you think Trump is cheating, complain to the IRS. Maybe they will add more rabid auditors to his case. Thus far, they have apparently determined his returns are legal.

If you feel the public is entitled to see his tax returns, check the law. We are not so entitled.

Do you think we should be? Well, suppose then that you run for your school board. Or your local city or town council. Do you think it would be right for your tax returns to be splashed across the pages of your local newspaper? Aren’t tax payers entitled to them? After all, you would be spending their money.

Trump’s tax returns?  My guess is that you would need to read a few thousand pages of tax code to understand them. And a degree in high accountancy would help.

From Tom…as in Morgan.

Find Tom on Facebook. You can write to Tom at tomasinmorgan@yahoo.com.