IRS Urged to Examine Donald Trump’s Loans to His Children
Wall Street JournalNov 25, 2022
The Facts
Following a congressional report that found the Internal Revenue Service (IRS) failed to inspect former Pres. Donald Trump's tax returns until Democrats pressed for their release, the agency's mandatory audit of presidents' and vice presidents' taxes has come under scrutiny.
The three-point policy states that individual returns for the president and VP should be filed in an orange folder, kept away from the eyes of IRS agents, and securely locked away when not being reviewed by an examiner.
The Spin
Democratic narrative
It seems Trump wasn’t lying when he said he was under audit during the 2016 election. But while some thought he was hiding nefarious tax evasion – which he still may be guilty of, to the tune of tens of millions of dollars – he was actually afraid of his less-than-masterful business skills being revealed. The IRS is also at fault here, and it's time the agency rebuilds itself to finally go after the rich and powerful.
Pro-Trump narrative
This report isn't about holding the IRS or the wealthy accountable, it's about Democrats taking one more baseless jab at nailing Trump before they're out of power in less than two weeks. This is also an attempt to codify the release of any and all public officials' taxes in the future, creating a weapon against political opponents, and dissolving the separation of powers between Congress and the White House.
