President Donald J. Trump continues to refuse to release his tax returns ever after thousands of Americans marched to make public his tax returns. Sean Spicer, the Press Secretary of the White House, said on April 17 that it is not possible for Trump to release the taxes as they continue to be under audit. Tax experts immediately refuted such a claim. Steven Rosenthal of Brookings Institution and the Urban Institute's Tax Policy Center told a prominent magazine that no legal impediment exists for those who is under audit when it comes to releasing tax reports. He said that the IRS audits every vice president and president while undergoing audit. He claims that if Trump continues this obstructionist policy, there will never be any chance of seeing these tax returns.
Tax reform in jeopardy
Trump's refusal to release personal tax returns has angered both Democrats and Republicans alike. It has also threatened his long promised tax reform. A growing number of Republicans have joined the chorus of President Trump releasing his tax returns. Democrats have mobilized a number of afforts to force Trump so that he is compelled to release taxes. Chuck Schumer, a Democrat from New York, said to the media that tax reform is impossible if President Trump do not release his tax returns. He pointed out that potential personal conflicts of interest beseige the president when it comes to real estate taxes and estate tax. Similar sentiments are echoed by Ezra Levin of Tax March and an Indivisible movement leader, said that when the President and his Republican Party discuss tax reform arev they really discussing about slashing Donald Trump's taxes by millions of dollars every year?
All must benefit
A high net worth group of progressive advocacy individuals, who have named themselves The Patriotic Millionaires, have also asked Trump to release his tax returns on April 18. Rich Boberg, an entrepreneur and group member, said that the government has a number of vital responsibilities so hat the country becomes an excellent place to live-and not cut taxes at expense of middle and lower income classes.
A prominent media house asserted that beyond President Trump's politics of tax returns, lawmakers are hesitant to overhaul the tax code which will enrich the highest ranking citizen of the land and his progeny. Steve Mnuchin, Trump's Treasury Secretary, admitted that the Trump administration's August tax overhaul deadline will in all probability not be met.