TaxProf Blog

Editor: Paul L. Caron, Dean
Pepperdine University School of Law

Friday, December 29, 2017

President Trump: 'I Know The Details Of Taxes Better Than Anybody. Better Than The Greatest CPA.'

From the New York Times thirty minute interview with President Trump:

"I know the details of taxes better than anybody. Better than the greatest C.P.A."

http://taxprof.typepad.com/taxprof_blog/2017/12/president-trump-i-know-the-details-of-taxes-better-than-anybody-better-than-the-greatest-cpa.html

Tax, Tax Policy in the Trump Administration | Permalink

Comments

“Who Knows the Tax Code Better Than Me?” (http://mauledagain.blogspot.com/2016/01/#1636983425182621150) (Jan 27, 2016) ("No, it’s not ME asking that question. Who asked it? According to this story, Donald Trump did. Trump added that rhetorical quip to the end of a paragraph in which he opined, “What’s going on on Wall Street is ridiculous. Who knows it better than me?” I daresay there are people who know Wall Street better than does Donald Trump. I am very confident that there are people who know the tax code better than does Donald Trump.

Trump shared his thoughts during a speech a few days ago in which he explained that he pays as little tax as possible, using “every single thing in the book.” As long as what he is doing is within the law, so be it. Of course, the tax law is skewed in favor not only of the Wall Street “hedge fund guys” Trump criticized, but also wealthy investors like Trump himself. Trump admitted that he manages to “pay as little as possible” because “I have great people.” It is far from impossible that his “great people” know the tax code very well. Perhaps they know it better than anyone else, though that is unlikely. But surely they know it better than Donald Trump. That’s why he’s willing to pay them to do the tax work.

So, the answer to Donald Trump’s question is, “Your great people, for starters. And a lot of other people, too.” ")

Posted by: James Edward Maule | Dec 29, 2017 7:59:16 AM

PLEASE!!!!!! The guy is ...............

Posted by: Sid | Dec 29, 2017 12:23:11 PM

Trump may think he knows more details about taxes than anyone but not tax policy. He may mean he knows more about his own taxes than anyone else. As for tax policy, he understands very little about how tax policy can be used to benefit our society. Ex. provide support to truly charitable organizations, not PACs; provide relief to those with major medical expenses; discourage tobbaco use; regulate interstate highway safety. He ignored conventional wisdom on economic impact studies and focused on his own needs in the tax code - behind closed doors, for political gain Fools rush in...

Posted by: jm | Dec 30, 2017 12:01:57 PM