Fred Henneke, Attorney & Counselor-At-Law

A TAXING DEBATE; 10/01/2020

If you coulda sold tickets and popcorn, you could have retired the national debt. What a spectacular debacle. A mud fight between the school bully and the book worm. WWE couldn’t hold a candle to the disgraceful event put on Tuesday night. They should have worn tights. Not the finest moment in American political history.

Since I suspect most of you watched that train wreck yourselves, I will offer only a few comments:

1. President Trump failed to goad Mr. Biden into cowering or breaking down. He is currently losing, perhaps decisively, to Biden so he dropped back and launched the “Hail Mary” – attack, denigrate, bully and dominate to prove once and for all that Mr. Biden is not fit to be president. In doing so, Mr. Trump actually pointed the finger and spotlight on himself, and not in a good way.

2. “Stand down and stand by”. A classic dog whistle racial moment. He was telling this white supremacy group to pull back, but be ready to defend their race, perhaps by disrupting the election. Why dog whistle? Sheriff Bull Conner used dogs to attack the American of both races who marched in Selma for equal rights. Dogs are a symbol of oppression through violence.

3.  Mr. Biden was at his best when he ignored the comments from President Trump and spoke directly to the audience. The substance of those remarks was less important that the connection with the television audience. I don’t recall an instance when President Trump was anything but an intentional disrupter.

4.  Chris Wallace gets a “A” for effort but a dismal score for result. It was like a person trying to stem a sea tide with a sponge. The Commission on Presidential Debates has said that they are going to change the rules to prevent another such debacle, perhaps by allowing the moderator to turn off microphones. President Trump say he won’t participate if they change the rules. Guess he doesn’t have another strategy. Mr. Biden says he will participate.

I want to say a few things about the President’s tax returns as reported by the press. First of all, it might sound like I am defending the President, but I am not. However, in all truth, the tax laws are designed to provide great benefits for real estate developers and projects through depreciation, etc. Additionally, our tax laws are slanted to benefit the uber wealthy. I great deal of tax  liability can be reduced LEGALLY.. The question remains – was the President’s tax liability reduced legally or was there fraud in producing the deductions? The 10-year audit indicates to me that there are many questions on the part of the IRS regarding Mr. Trump’s tax returns.

Perhaps equally significant is the picture the tax information paints of the President. not the mega-rich mogul he likes to portray himself. Not the incredibly talented real estate developer, either; witness the bankruptcies of his Atlantic City casino hotels. If it weren’t for The Apprentice, and his ability to license his name (not his developer ability), he might be forced to work for a living. Will the real Donald J. Trump please stand up?

As Sherlock Holmes says, “The game is afoot.”  Wherever your are, whatever your political persuasion, whatever your station in life. PLEASE VOTE!!!!!!!!

STAY TUNED!

 

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