16 October 2019

CNN: Here's a BIG clue on the real reason Donald Trump doesn't want to release his taxes

None of those reasons made -- or make -- any sense. But now, thanks to CNN reporting, we may know the real reason why the President is fighting so hard to keep his returns from ever seeing the light of day: Because he paid so little in taxes -- especially for someone who makes as much money as Trump does. [...]

CLINTON: "So you gotta ask yourself -- why won't he release his tax returns? And I think there may be a couple of reasons. First, maybe he is not as rich as he says he has. Second, maybe he's not as charitable as he claims to be. Third, we don't know all of his business dealings but we have been told through investigative reporting that he owes about six hundred and fifty million dollars to Wall Street and foreign banks. Or maybe he does not want the American people, all of you watching tonight, to know that he has paid nothing in federal taxes because the only years that anybody has ever seen for a couple of years where he had to turn them over to state authorities when he was trying to get a casino license. And they showed he did not pay any federal income tax. [...]

So, if Trump did indeed pay no taxes for almost 20 years, you could see why that's the sort of thing he wouldn't want to be made public before he runs for a second term. Because what might have been smart for Donald Trump, the private citizen, looks a lot worse for Donald Trump, the president. Especially since Trump has routinely railed against companies taking advantage of the tax code to avoiding paying any taxes at all.

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The Guardian: Why China fears sending the tanks into Hong Kong

The problem of open-ended civil unrest in Hong Kong, which has been punctuated by rising acts of violence and vandalism carried out by a distinct but hardline minority, is a reflection of China’s new assertiveness under Xi – an assertiveness that marks a break with the caution of the post-Mao era. It can be seen in Xi’s signature undertaking, the Belt and Road Initiative – an infrastructure building project with global ambitions. Or, most recently, the flaunting of new weapons systems during the military parade commemorating the 70th anniversary of Communist party rule – a declaration of China’s intention to rival American military power more openly than at any time in the recent past.[...]

This blocking of any path forward that would permit more self-determination under Chinese sovereignty – as promised when Britain handed Hong Kong back to the mainland in 1997 – has led to a marked radicalisation of Hong Kong’s population this year, and created a revolt of the middle class. The peaceful demonstrations that have regularly drawn hundreds of thousands of residents into the streets since the summer have included many older people, as well as plenty of residents from other segments of the population long assumed to be conservative or at least acquiescent, whether civil servants or business people. [...]

From here, Beijing’s choices in Hong Kong will not grow easier. The ultimate option, of course, is to mount a police or military intervention from the mainland in order to put down the protests. But at what cost? Hong Kong would lose forever its status as a global, cosmopolitan city, a goose that lays golden eggs for China. Since Deng Xiaoping introduced capitalism to China, Hong Kong has served as a critical business and investment portal for the country: a place where foreign companies feel it is safer for them to be based because of the independent judicial system and a banking structure that allows the free conversion of currencies and unlimited international transfers. As China has grown vastly richer it has become less dependent on Hong Kong for such purposes, but lots of investment into China still passes through the city.